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UK Mulling Bailout for Tech Firms After Silicon Valley Bank Collapse

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Authorities in the United Kingdom are considering a possible bailout for tech firms after the collapse of the British branch of the Silicon Valley Bank.

Jeremy Hunt, the Chancellor of the Exchequer, is reportedly mulling a possible bailout for tech firms and startups affected by the collapse of the Silicon Valley Bank UK, a subsidiary of America’s Silicon Valley Bank (SVB).

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The failure of SVB represents the second-largest failure of a bank in U.S. history, only beaten out by the collapse of Washington Mutuals during the 2008 financial crisis.

According to a report by the BBC, there is now significant fear about the knock-on effect the bank’s collapse could have on startups in Britain, with many firms set to lose large sums of money after the Bank of England declared that SVB UK would enter insolvency on Friday.

As a result, the Treasury is now reportedly aiming to offset the damage done by the bank’s collapse, with Hunt telling the public broadcaster that authorities are considering various ways of rescuing the tech firms affected.

One such rescue plan even involves providing an emergency cash lifeline for companies hit by SVB going under.

“We want to find a way that minimises or avoids all losses to those incredibly promising [firms],” the Chancellor said, arguing that while the impact on the United Kingdom’s overall economy is expected to be minimal, SVB’s collapse would nevertheless risk wiping out many of the country’s budding tech enterprises.

Meanwhile, the Treasury is reportedly putting plans in place to meet the immediate needs of the firms affected by the crisis, with a statement made early Sunday morning emphasising that the entire British government were taking the matter seriously.

“The government is treating this issue as a high priority, with discussions between the Governor of the Bank of England, the Prime Minister and the Chancellor taking place over the weekend,” the statement read.

“The government is working at pace on a solution to avoid or minimise damage to some of our most promising companies in the UK and we will bring forward immediate plans to ensure the short term operational and cashflow needs of Silicon Valley Bank UK customers are able to be met,” they added.

SVB’s collapse has left many working within the realms of tech and venture capital in shock, with the bank seemingly going from a rock-steady financial institution to a car wreck in a matter of days.

The bank’s collapse has also reportedly left many major tech companies in the lurch, with some major multinationals having bank balances numbering in the hundreds of millions within SVB at the time it went under.

There also appears to be some fears that SVB may not be the end of the story, with Reuters reporting European bank stocks falling amid fears regarding the crisis.

“The market is treating this as a potential contagion risk,” one strategist explained. “It makes sense to me that a remote probability of a U.S. banking system-wide crisis should also come with a small probability of contagion to Europe.”

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UK Govt Aimed to Use ‘Fear/Guilt’ to ‘Frighten’ Public Into Obeying Lockdown: Leaked Messages

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UK Govt Aimed to Use ‘Fear/Guilt’ to ‘Frighten’ Public Into Obeying Lockdown: Leaked Messages

The British government aimed to “frighten” the general public into obeying the lockdown regime during the COVID pandemic, leaked messages have revealed.

Leaked messages seen by the British press have revealed how the British government aimed to use “fear” and “guilt” to force mass compliance with the country’s lockdown regime.

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In particular, then-Health Secretary Matt Hancock appeared to be at the centre of the campaign — nicknamed “Project Fear” by pundits — with the then-Prime Minister, Boris Johnson, also being described as jumping in and out of lockdown “fascism” throughout the pandemic.

According to a report by The Telegraph, the 100,000 leaked WhatsApp messages have shown how those inside Westminster and Whitehall aimed to twist data into making the pandemic look more severe, seemingly hoping it would increase voluntary compliance with lockdown rules and even increase support for further restrictions.

In one exchange sent in December 2020, Hancock discusses how best to replace talk of the Conservative Party’s Brexit failings within the media with fear about the pandemic, seemingly suggesting a strategic drop of news regarding a new variant of the virus in order to heighten people’s fear response.

“We frighten the pants of everyone with the new strain (sic),” he said in a chat with a Department of Health media advisor, before going on to ask when exactly the state should “deploy” the new variant of the virus to maximise impact and best fight off anti-lockdown elements within both the Tory Party and Britain’s Mail on Sunday newspaper.

Simon Case, who as Cabinet Secretary is Britain’s top civil servant, appeared to display similar sentiments in other messages, telling Hancock that “ramping up messaging [with] the fear/guilt factor [is] vital” at the beginning of 2021.

“Mr Hancock and his advisers did not even try to imagine how the tactics they were gleefully discussing to achieve ‘proper behaviour change’ would affect the most vulnerable in society,” Isabel Oakeshott, the journalist who first leaked the messages, said regarding the then-Health Secretary’s actions.

In particular, Oakeshott highlighted the severe impact the government’s lockdown rules had on the mental health of children, discussing in detail the suicide of one 15-year-old boy who had his life upended by the government restrictions.

The boy’s family is said to have been put under extreme pressure by “over-zealous council officials” who shut down local amenities, eventually forcing the teenager and his family to move to another part of the country.

However, the family was then reportedly unable to find a new school for the teen, who was at this point struggling mentally due to the impact of lockdown.

Eventually, with news of another lockdown on the cards, the boy left his home, telling his mother he was going to the local stores, but never returned.

He was reportedly found “hanging from a tree” three days later.

Hancock and his team were far from the only government officials trying to push Britons into harsh lockdown restrictions, with Boris Johnson also repeatedly sending WhatsApp messages supporting restrictions.

Early on in August 2020, Johnson was reportedly sceptical about pushing lockdowns, saying that even the elderly would likely prefer for England to remain open considering the suspected mortality rate of the disease.

“If I were an 80 year old and I was told that the choice was between destroying the economy and risking my exposure to a disease that I had a 94 per cent chance of surviving I know what I would prefer,” he wrote in one message.

However, the PM is later seen agreeing in messages with officials supporting greater lockdown efforts, with Johnson ultimately being responsible for multiple serious COVID lockdowns in 2020 and 2021.

Speaking to The Telegraph, Johnson’s sister, Rachel Johnson, described her brother as frequently being “bounced” between anti-lockdown beliefs and hardcore “Covid-sanitary fascism” by the data presented to him by those working under him, adding that he ultimately seemed to do what the “gibbering control freaks” in the office wanted.

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England Bans Violent ‘Transgender’ Male Inmates from Women’s Prisons

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England Bans Violent ‘Transgender’ Male Inmates from Women’s Prisons

Violent male criminals who claim to be “transgender” women will be banned from female prisons from Monday, Britain’s Justice Secretary has claimed.

Justice Secretary Dominic Raab has announced that males incarcerated for committing violent crimes in England and Wales will not be allowed to be housed in women’s prisons, even if they claim to be “transgender”.

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Although Raab claims otherwise, the changes to the English prison regime appear to be in response to the controversy in Scotland surrounding “Isla Bryson”, a biological male convicted of two rapes who was sent to a women’s prison after claiming to be transgender.

With the British government having already promised to ban biological males entering women’s prisons if they still have male genitalia or if they have committed a sexual offence, for the most part, Raab has now announced that the ban will extend to all violent transgender criminals.

Writing on Twitter, the Justice Secretary touted the change as being “common-sense”, arguing that it would ” improve safety for prisoners across England and Wales”.

“We are very clear that from next week we will introduce new rules which means that any trans offender with their male genitalia intact or who have been convicted of a sexual offence and, adding to that, if they have been convicted of a violent offence, they will not be allowed into the female prison estate,” he told broadcaster Sky News on Sunday.

Even under this ban, however, dispensations will reportedly be available for some transgender male prisoners who wish to be housed in women’s prisons, with ministers being able to sign off on allowing a male who identifies as a woman to be housed in a facility for biological females should they deem it fit to do so.

Raab was also reportedly keen to emphasise that the changes to the prison system were — despite the timing — supposedly not in response to the infamous Isla Bryson scandal.

Born Adam Graham, Bryson was convicted of raping two women last month while he identified as a man, with his defence even trying to claim that his transition was reason to see him acquitted of the charges.

Once convicted, the original plan was to hold Bryson in a segregated part of a women’s prison, with it even being suggested that he could be moved into the main part of the prison should he be judged as not being a threat to the biologically female prisoners.

Such a suggestion was eventually shot down though after the story gained traction in the British media, with many pundits and members of the public expressing concern that Bryson’s presence could endanger women.

Despite the political backlash though, and the subsequent tightening of prison rules, Raab was keen to emphasise that the Conservative (Tory) Party are actually very much pro-transgenderism.

According to the Justice Secretary, the Tories want to take a “liberal, sensitive, tolerant approach to the LGBT community as a whole and in particular the trans community” — though it is unclear whether this is a position shared by the party’s perennially ignored base of activists and voters.

Raab’s desperation to suck up to advocates of transgenderism is ultimately unsurprising, considering his party’s track record, with the infamous Gender Identity Development Service (GIDS) at Tavistock rising to prominence on his party’s watch.

The National Health Service (NHS) outfit is now supposedly being shuttered after a report deemed its medical approach to treating children with gender dysphoria to be putting them at risk — although a report in The Times earlier this month revealed that is in fact still operating and still referring children for trans hormone drugs, despite much sound and fury in the press about it being closed down last year.

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Arrested Development? Record Number of Britons Still Living at Home with Parents

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Arrested Development? Record Number of Britons Still Living at Home with Parents

A record number of British adults are still living at home with their parents as younger generations put off marriage and raising children, the country’s official statistician revealed on Friday.

According to the Office for National Statistics (ONS) there were some 4.9 million adults living in the same home as their parents in 2021, the highest figure on record and an increase of 14.7 per cent over just ten years ago.

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The jump was recorded across the board, with all age groups seeing an increase, however the largest rise was seen among 25 to 29-year-olds.

London, where house prices are sky high and social housing in short supply, was the most impacted region, with many boroughs of the capital recording over 30 per cent increases in non-dependant adults living at home.

The ONS attributed the concerning rise in part to the fact that young adults are increasingly delaying major life milestones such as getting married and having children. The statistician also pointed to the Chinese coroanvirus crisis as a likely contributor to the rise in 2021.

However, this has been a longstanding trend, with 50 per cent of people in 2017 waiting until they were 23 to leave home, compared to over 50 per cent of 21-year-olds having already moved out two decades prior.

Steve Smallwood, demography topic lead at the ONS, said: “We can see that there has been a significant increase in grown-up children living with their parents, with over half of those aged 19 to 23 doing so.”

The ONS also found that those living together as a couple, but not in a marriage or civil partnernship, has increased from 20.6 per cent in 2011 to 24.3 per cent in 2021.

A recent report from the Marriage Foundation found that the welfare policies of the so-called Conservative government have created a perverse incentive structure in which it can be financially beneficial for parents at the lower end of the economic spectrum to remain unmarried after having children, as single people are prioritised for government handouts.

The foundation reported that while seven in ten new parents from ‘highly-paid’ families, who are not reliant on welfare to make ends meet, were married in 2021, just one-third of couples with ‘lower incomes’ are, perpetuating the cycle of poverty given the disadvantages for children growing up in single-parent households.

The anti-family policies of the government also extend to tax, with one-income households being taxed at a higher rate than those in which both parents are required to work — making it is more difficult for mothers to stay at home to raise their children in traditional single-breadwinner families.

The combination of such factors has resulted in the majority of babies (51.3 per cent) being born to unmarried women for the first time since records began in 1845, with over 320,000 born out of wedlock in England and Wales in 2021.

The age at which women are having children is also hitting record highs, with a majority of women remaining childless at the age of 30 for the first time.

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Woketocrats Call for Jeremy Clarkson’s Head After Criticisms of Meghan Markle

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Despite infamous UK TV host and columnist Jeremy Clarkson’s remorse, and an essay-length apology, cultural safetyism totalitarians are still baying for his blood.

The former Top Gear host-turned-farmer for Amazon drew condemnation in early December after penning a reckless article for The Sun criticising the uncriticisable Meghan Markle.

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The rabid woke mob has been trying to beat public support into pyres, torches and pitchforks ever since.

Honest Opinion

In his December column, Clarkson, generally hated by Leftists for his non-conformism and gas-guzzling, free-thinking masculinity, tore into the American celebrity-cum-British Royal, stating:

“I hate her. Not like I hate Nicola Sturgeon or Rose West. I hate her on a cellular level.”

Driven by Markle’s woke, perpetual victim class mentality, and Markle Inc.’s apparent exploitation of Harry [“The Spare”] Windsor, (third in line for the throne), Clarkson slammed the Suits actress, saying:

“At night, I’m unable to sleep as I lie there, grinding my teeth and dreaming of the day when she is made to parade naked through the streets of every town in Britain while the crowds chant, ‘Shame!’ and throw lumps of excrement at her.”

Drawing the ire of every evil unforgiving activist, happy in their hatred for everything wholesome, Clarkson is now being erased, along with his Amazon contract for Clarkson’s Farm, and Top Gear spin-off The Grand Tour.

Relentlessly hunted down by cultural safetyism’s thought police, cancel culture totalitarians are now cancelling Clarkson.

As is frequently the case with woketivists who are fed a steady diet of Cultural Marxist propaganda, the game is zero-sum.

Enemies — people relegated as “oppressors” by the intersectionality rubric such as heterosexuals, Christians, and those who are a lighter shade of melanin — are not to be loved. They have to be crushed.

Merciless Mob

Forgiveness and grace do not exist in Karl Marx’s 21st-century woke dojos.

This is evident in the mass dismissal of Clarkson’s regret for his recklessness in mid-December, when, of his own volition, he asked The Sun to remove his column, in light of a retraction he had posted on Twitter.

Clarkson’s a big target for woke warriors fighting in neo-Marxism’s nihilistic culture war against the Classical Liberal West.

Viewed as the patriarchy, he’s white. Very British. Independently minded. Sympathetic to the monarchy, heterosexual, a Brexit convert, loves cars, views climate catastrophism as a scam, and is by, and large, a great supporter of classical liberalism.

He’s also just as flawed as the next man.

The difference is he was humble enough to own his mistake with Markle, and commit to being less reckless with his wording in the future.

This was reiterated in a comments-frozen, essay-length apology he posted on Instagram, with Clarkson writing:

“One of the strangest things I’ve noticed in recent times is that whenever an MP or a well-known person is asked to apologise for something, no matter how heartfelt or profound that apology may be, it’s never enough for the people who called for it in the first place.”

He then added:

“So, I’m going to buck the trend this morning with an apology. I really am sorry. All the way from the balls of my feet to the follicles on my head. This is me putting my hands up. It’s a mea culpa with bells on.”

Pleading to be heard, Clarkson asked:

“Can I move on now? Not sure. It’s hard to be interesting and vigilant at the same time. You never hear peals of laughter coming from a health and safety seminar. But I promise you this, I will try.”

The besieged journalist finished with a sigh, and a hint of surrender, writing:

“Who knows? Very soon now I shall be a grandfather so in future, maybe I’ll just write about that.”

Nigel Farage, in his response to the Cultural Marxist cancellation of Clarkson, said this wasn’t Jeremy at his best.

He wrote an ill-advised column, but the response to the apology “tells you everything you need to know about Harry and Meghan, and it gives a big lesson for the King.”

They’re unwilling to accept a heartfelt apology. In its stead, they’re doing what the “Left always do, accuse people of spreading hate, misogyny etc. When the truth of it is, the most hateful people are those who accuse others of hate.”

Harry and Meghan “won’t accept Clarkson’s apology, they want him totally and utterly destroyed. As they do to anybody with a different view on the World to their own woke West Coast outlook on things.”

The demand for Clarkson’s head “just shows you how unpleasant, how nasty, how destructive they really are.”

___

Originally published at Caldron Pool.

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UK Military Would Run Out of Ammo In One Day of Fighting Russia, Warns General

TruthPeep Ammunition, Ben Wallace, Boris Johnson, Britain, British army, British military, Defense Spending, Economy, HM Armed Forces, London / Europe, military spending, NATO, Politics, Russia, Tobias Ellwood, UK Armed Forces, UK Army, Ukraine, Ukraine war, United Kingdom, USA News , , , , , , , , , , , , , , , , , , , 0 Comment
UK Military Would Run Out of Ammo In One Day of Fighting Russia, Warns General

The British military’s supply of ammunition would run dry in just one day in a direct engagement with Russia as a result of years of spending cuts to the nation’s defence, a former top general has warned.

General Sir Richard Barrons, who formerly served as the Joint Forces chief, claimed that spending cuts have depleted the British military to such an extent that, in a hot war with Russia, the UK would run out of ammunition and artillery shells within just one day.

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According to research conducted by The Sun newspaper, the United Kingdom’s ammunition plants would need at least one year to produce the amount of shells currently used by the Ukrainians in their conflict with Russia.

“This is truly shocking. But it is true. And we must fix it,” General Barrons wrote. “The UK spends more on defence than any EU ally and our brave Armed Forces have long been one of Britain’s most influential levers around the world.”

“Yet for decades they have been hollowed out by spending cuts,” he added, saying that the government would need to spend an additional £3 billion per year on the military to fall in line with the top level of the NATO alliance.

The Ministry of Defence, for its part, said that while ammunition levels are “highly classified”, it was boosting spending on ammunition stockpiles to “more than pre-invasion levels” with an extra £560 million earmarked by the Treasury.

The MoD also suggested that judging Britain’s readiness by the current conflict’s standards was disingenuous.

“The war in Ukraine is an example of Soviet doctrine which uses vast quantities of artillery. We do not, nor ever have, used artillery in such methods, so to try and draw such conclusions is misleading,” they claimed.

Meanwhile, Defence Secretary Ben Wallace also said this week that the United Kingdom’s defence apparatus has been “hollowed out and underfunded” — although he neglected to mention who was responsible for this.

“There’s a recognition that as the world gets more dangerous, unstable, defence should continue to get a growing proportion of spend, we can then debate how much that proportion should be,” he said.

In the first seven years after the so-called Conservative Party came into power after 2010, annual defence spending fell by £6.6 billion in real terms — a reduction of 14.6 per cent compared to the 2009-10 budget.

While slashing the military budget, the supposedly right-wing government has poured billions into left-wing projects such green energy and foreign aid, ironically including money for other nations’ militaries.

However, last year the government finally promised to increase military spending, pledging £7 billion in extra funding for the 2024-25 fiscal year, which should see defence spending rise to £51.7 billion.

Despite the apparent lack of military readiness, war hawks in the Conservative Party such as former prime minister Boris Johnson and the head of the House of Commons Defence Select Committee, Tobias Ellwood, have both called this week for Britain to double down on its support for Ukraine, with Mr Johnson calling for the government to send fighter jets to the Ukrainians.

Ellwood, meanwhile, said that Britain should engage “directly” with Russia in Ukraine rather than letting the local fighting force “do all the work”, despite noting that currently the British military is in a “dire” state, with 10,000 fewer troops than necessary.

“It is up to the Treasury and Number 10 to recognise the world is changing — we are now at war in Europe, we need to move to a war footing,” Ellwood said.

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British Military ‘Unable to Protect the UK’ or Allies After Years of Cuts

TruthPeep Britain, British army, Conservative Party, Cuts, Defence Spending, Defense Spending, HM Armed Forces, London / Europe, NATO, Politics, Rishi Sunak, Royal Air Force (RAF), Royal Navy, Tobias Ellwood, Tories, Tory party, Ukraine, Ukraine war, United Kingdom, USA News , , , , , , , , , , , , , , , , , , 0 Comment
British Military ‘Unable to Protect the UK’ or Allies After Years of Cuts

Britain’s armed forces are no longer able to play a full role in NATO or defend the homeland after years of cutbacks, according to British defence sources, with a senior American general warning London that it has a “barely tier two” force.

Broadcaster Sky News reports multiple British defence sources lamenting Britain’s military decrepitude, with one warning that the “bottom line” is that the armed forces are will be “unable to protect the UK and our allies for a decade” despite extremely heightened tensions with Russia and increasingly tenuous relations with Communist China, particularly in the South China Sea, among other dangers.

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Other NATO powers have been blunt with the British government, with a “high-ranking U.S. general” reportedly telling the British defence secretary, Ben Wallace, that Britain was no longer on the level of tier-one powers like America, China, and Russia, but “barely tier two” — the level of countries like the neutered former Axis powers Germany and Italy.

“We have a wartime prime minister and a wartime chancellor,” one British defence source emphasised, referring to Rishi Sunak and his de facto finance minister, Jeremy Hunt.

“History will look back at the choices they make in the coming weeks as fundamental to whether this government genuinely believes that its primary duty is the defence of the realm or whether that is just a slogan to be given lip service,” they added.

In reality, despite traditionally being seen as the party of the armed forces and law and order, Britain’s governing Conservative (Tory) Party has seen the military and the police, in particular, as easy targets for heavy government spending cuts since they regained office from the Labour Party in 2010, as their ability to strike and otherwise make life difficult for politicians is extremely limited compared to often institutionally leftist public sector institutions such schools and universities.

Defence has also simply not been a priority for the notionally right-wing party, with the green agenda and foreign aid, for example, having been largely spared the cuts inflicted elsewhere in the name of fiscal discipline.

Tobias Ellwood, a senior Conservative Party backbencher who heads the House of Commons Defence Select Committee, conceded that years of cutbacks had left the armed forces in a “dire state”.

“Our army is simply too small, we have cut down by 10,000 troops,” he told Sky News.

“It is up to the Treasury and Number 10” — the Prime Minister’s residence and office — “to recognise the world is changing — we are now at war in Europe, we need to move to a war footing,” he said.

“We have become complacent. We need to invest to make sure we retain people, the good people that are there, but there are not enough of them and the equipment is now obsolete.”

Ellwood highlighted the parlous state of Britain’s tank fleet in particular, noting that the country had around 900 “a couple of decades” ago but is only upgrading 148 of its Challenger 2s into Challenger 3s, with the remainder set to be used for parts — likely a large part of the reason Rishi Sunak has only been able to commit a token force of 14 tanks to the Ukrainian war effort.

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Energy Shortages: Britons to be Paid to Not Use Electricity Between 5pm and 6pm on Monday

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Energy Shortages: Britons to be Paid to Not Use Electricity Between 5pm and 6pm on Monday

More than a million UK households will be offered money for them to cut their electricity use between 5pm and 6pm on Monday in a move that follows the National Grid bringing back mothballed coal plants today to ensure supply.

Some people across Britain are to be offered up to £20 (~$24.76) to dramatically reduce their electricity usage between 5pm and 6pm on Monday evening in an attempt to curb the country’s electricity use in the face of potential shortages.

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It will be the first time such payments will be issued under the National Grid’s Demand Flexibility Service, which was introduced late last year in the hopes of preventing power blackouts.

Now, according to an online statement by the energy board, the emergency system is planned to be engaged for the first time this evening, with freezing cold temperatures reportedly causing problems for energy availability in Britain.

So far, three coal-fired power plants in the country have been ordered to make themselves ready for use to combat the shortages, with a combination of freezing temperatures, short days, and little wind hammering the UK’s green energy production at a time when significant supply is needed to heat and light people’s homes.

Wind energy in particular has appeared to have dropped dramatically, going from making up just under 58 per cent of the UK’s electricity supply one week ago to only 25 per cent on Saturday, pushing the country back onto more reliable alternatives.

While the National Grid insists that there are no chances of blackouts, it has admitted that the country’s energy supply has been significantly reduced, and that energy-saving measures are needed to “maintain the buffer of spare capacity we need”.

“Our forecasts show electricity supply margins are expected to be tighter than normal on Monday evening,” a statement from the body on Sunday evening read. “We have instructed coal-fired power units to be available to increase electricity supplies should it be needed tomorrow evening.”

“We are also activating a Live [Demand Flexibility Service] event between 5-6pm tomorrow,” it continued. “This does not mean electricity supplies are at risk and people should not be worried.”

According to a report by the Daily Mail, the more than a million households eligible to take part in the energy-saving project will be asked to refrain from using high-consumption appliances such as ovens, washing machines, tumble dryers, dishwashers and certain games consoles.

These households will be eligible for the programme as a result of having controversial “smart meters” with an eligible provider within their home, with the technology recently emerging as a point of controversy within the British press for the reason that it gives unprecedented control of electricity consumption to electricity companies.

Though the plan is voluntary, with many in Britain struggling to make ends meet as a result of the massively inflated price of fuel, food and electricity, the opportunity to be paid for saving energy for one hour may be a defacto necessity.

What’s more, these same households may be handed another opportunity to turn off their appliances for cash on Tuesday, with the National Grid reportedly saying that they may implement the measure again tomorrow should the supply situation not improve.

Officials from within the energy operator also have reportedly suggested that such energy-saving events could become a regular feature of winters in the UK, with one even suggesting that it will help boost the UK’s green agenda goals.

“It is something we strongly believe in,” Craig Dyke, Head of National Control at National Grid ESO, reportedly remarked. “It provides flexibility for the system and the consumer. We see this as a growing market.”

“We see this as a world-leading step forward into a space where we can only grow and drive forward towards Net Zero,” the official went on to say.

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