There's a lot of focus on banks out there right now, and deservedly so. Nor do I need rehearse all the reasons why that focus and concern is well deserved, nor could I do so even if I tried.  I'm not a finance or investment expert, and when it comes to such things I leave them to my friend and colleague in this alternative media and research field, Catherine Austin Fitts.  But we all probably have more or less the same list of factors: the financial meltdowns of 2008, the mortgage fraud, the credit default swaps, the bundling of ever larger amounts of ever more dubious securities in larger and larger tranches, the unmentionable derivatives crisis, so-called digitial, or crypto-currency and all the scams associated with it:

Now just think of that commercial in connection with Central Bank Digital Currencies, and a social credit system, and you get the idea.  All of it leads one to formulate the First Moral Law of Banking: The bigger the bank, the more likely the fraud. I had to learn that lesson the hard way, almost three decades ago, when I was even poorer than I am now, and had a checking account with a then-large and well-known bank (which has long since been gobbled up by an even bigger and well-known bank).  The experience was pure hell. I'd deposit money, or a check, go out, buy something and write a check for it, and then get dinged by the bank for an overdaft fee. Fifty dollars a pop. This happened so many times I realized the bank was simply crooked, and my hypothesis at the time was that the bank was using the period of the float to make money for itself, including by charging me overdraft fees on money that had already cleared, but which they were saying had not cleared. Lo and behold! a couple of months later I received a letter from an attorney's office, stating that I was elligible for participation in a class-action suit against that bank that was being brought for - you guessed it - "playing" with the float period to charge overdraft fees to its customers.  The bank settled out of court, the attorney took his lions' share of the settlement, and the rest of us received our small little cheques and a pat on the head and were sent our way. Needless to say, I pulled my pittance of an amount of money - in cash of course - out of that bank, and went to a much smaller local credit union. I've not banked with a bank, and particularly a big bank, since.

Or as Catherine Fitts has been known to say, why are you banking with your enemy, (fill in the name of a big bank here)?

All that is true enough, but what I've been watching a lot more closely, lately, is the insurance business. After all, they underwrite a lot of businesses: homes, cars, &c. And yes, families, homes, cars, are businesses. So when insurance companies start acting all skittish and nervous, as for example, they have been doing with their actuarial tables and the sudden jumps in death rates after the covid planscamdemic and its accompanying "safe and effective" injections , then I sit up and take notice. With that in mind, take a look at the following recent story that, I'll bet, did not make your local evening news. Nary a peep, to my knowledge, was bleated from the national propotainment media, not SeeBS, not Faux Tuckerless News, not any of them that I can recall. Even if they did, they probably mentioned it once, passed quickly by it, and moved along to something else. Here's the story that K. shared:

State Farm to stop accepting homeowners insurance applications in California due to wildfires, construction costs

Now, even though this story is being run by a major member of the propotainment business, notice this story appears under "Climate", for ostensible reasons that will become apparent once we look at actual statements in the article, and not under "business" or "investments" or "finance", where one might expect to find it.  But it's what's in the short article that says it all, and, I strongly suspect, is a hint or precursor of what is to come, especially in out-of-control radicalized state or local governments like Nuttyfornia:

State Farm General Insurance Company on Friday announced that it will stop accepting new homeowners insurance applications in California, citing “rapidly growing” catastrophe risks like wildfires, “historic increases” in construction costs and a challenging reinsurance market.

“We take seriously our responsibility to manage risk,” the company said in a release.

State Farm said it will stop accepting new business, personal lines property and casualty insurance applications starting Saturday. The new policy will not impact personal auto insurance, according to the release. State Farm’s independent contractor agents will also continue to serve existing customers.
Translation: "We've had it with trying to operate and make a profit in this state when it is doing nothing to secure its own citizenry and their property. It's more worried about rare fish in the San Joquin Valley than it is with its struggling farmers.  And, we saw all those fishy videos of the strangeness surrounding all the fires, and they sure look like someone is starting them... we've had too many home inspectors looking at fires that were started in the electrical connections to homes, and they're saying they have no explanation for it..."

The company said it will work with the California Department of Insurance and other policymakers to improve conditions in California, but that State Farm decided to take action to improve its “financial strength.

Translation: "These losses are due entirely to the nutty wacked-out radical policies coming from Sacramento and the party that has controlled it for decades. We'll suggest the correct policies that they should follow, but our bottom line is at stake and we cannot afford, under these conditions, to underwrite any new policies in the state, period.

“We will continue to evaluate our approach based on changing market conditions,” State Farm said.

Translation: "If Nuttyfornia does not change it's game, we might be forced to leave the state altogether. Get your game together, Gavin, and do it quickly."

Analysis and Prediction: this is not just a warning shot across the bows of Nuttyfornia, but merely the first of many, and it will spread from Nuttyfornia to other areas similarly afflicted with the policies of wackery. It's kind of hard to insure something in an "opportunity zone" if the zone is only an "opportunity" because all the property in it has been burnt to the ground. Repeatedly.

That's a quick and sure way to make something uninsurable. And it's a possible indicator that the make-money-cheap scams of disaster capitalism might be ending, too.

See you on the -

[Folks, just as I finished this blog, K.M. sent the following story about another major insurer pulling out of new underwriting in Nuttyfornia... that didn't take long:

Another major insurer is halting new policy sales in California]


See you on the flip side, take two...



Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and "strange stuff". His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into "alternative history and science".

No Comments

  1. Steve Hepple on June 8, 2023 at 10:27 pm

    Here’s an archived link to the cnbc story about State Farm if you’re having trouble accessing it

  2. james11 on June 7, 2023 at 9:24 pm

    BlackRock sounds like Black Eagle.

  3. marcos toledo on June 7, 2023 at 8:36 pm

    Our master’s high priests of Moloch are preparing to sacrifice the rest of us to their gods of power and greed.

  4. InfiniteRUs on June 7, 2023 at 5:09 pm

    Well, If I survive a nuclear attack but my home doesn’t you can bet I’ll be filing an insurance claim for it getting burned down! Looks like the radically religious Banker families are lobbying our politicians pretty heavy for us to push Russia into a corner where they will have no choice but to use their nukes on our politicians and us. Likely why they also seem to have lobbied not to let us evacuate to underground bunkers like the Russians have built for their people. All the insurance claims from survivors in bunkers must be a nightmare for them. But prophecy must get fulfilled and the US has no shortage of useful, corruptible fools willing to unwittingly help them fulfill it. I doubt if many of our politicians and three letter unintelligent agencies are sophisticated enough to even figure out what they are really being paid and blackmailed to accomplish.

  5. John Cawley on June 7, 2023 at 1:07 pm

    Dear Fellow Travelers of the Weirdosphere,

    Please hold for a moment while my Ouija Board team completes its message . . .

    Ah, here we go. “California will soon pass a law requiring all companies offering automobile insurance in the state to also offer minimal policies covering residential property. To make the insurance market more attractive to the insurance industry, California will also backstop new homeowners by offering its own highly affordable state-funded minimal policy. We anticipate the residential policies provided by the state will have vastly expanded force majeure clauses.”

    • anakephalaiosis on June 7, 2023 at 5:26 pm

      My Ouija board says, that antisemitism is going to rise through the roof in America, and that financial land grab will be blamed on the Jews, who, without an escape option in the Ukraine, are pinned down in America.

      The Khazars will never return to Europe, and collective secession from the union, will invent the “wandering Jew” between states in America, until shoe leather is worn out.

      Those, who are trying to dig themselves bunkers underground, are obviously ahead of the curve, and a litmus test on, what the real sentiment is, about Hollywoodism in general.

      Elijah is lightning thunder – the great golem slayer – who pulls the plug on the golden calves, on the big screen.

    • Joseph P. Farrell on June 7, 2023 at 5:59 pm

      Sad but probably true John.

  6. June on June 7, 2023 at 12:27 pm

    Yesterday, in a review of my insurance coverage (with a major national company), my representative said companies were turning down coverage for new homes and newly purchased homes in many instances and not even giving reasons. She said brokers told her these companies did not seem to want to be in insurance anymore. Given that mortgage companies insist on insurance at replacement levels this is a conundrum.

    • Barbara on June 7, 2023 at 8:06 pm

      No conundrum here. This is part of building of the Serfdom Society that rhymes with “you will own nothing and you will be happy”. Big corp. or so called 1% will own everything and rest of us nothing. Now another news from the same box is that Gov. of Texas is proposing lowering property taxes. Color me skeptical, didn’t just one third of real estate in Texas got purchased during Covid years by BlackRock, Carlyle and alike?

      Governor Abbott released a statement this evening where he said, “The Texas House is the only chamber that passed a property tax cut bill that is germane to the special session that I called to provide Texans with property tax relief.”He seems misinformed about the roles of the…— Office of the Lieutenant Governor Dan Patrick (@LtGovTX) May 31, 2023

      • FiatLux on June 9, 2023 at 4:17 am

        Barbara, I think you’re probably right. If individuals can no longer purchase mortgage or homeowner’s insurance, home ownership will become nearly impossible. That would fit the Great Rest goals perfectly. But first, insurance companies need an excuse to stop selling homeowner’s insurance.

        I think the insurance industry is going to be used to push various new policy goals. For now, State Farm says its recent decisions aren’t going to affect personal auto insurance policies. But just wait — at some point, cars that don’t comply with some looney carbon-emissions rules will be uninsurable. Buildings codes will start to require “carbon-neutral” construction, and the cost of complying with those codes will be unaffordable to mere mortals. Only the big corporations and financial firms will have the money to build or retrofit houses or apartments, which they will be happy to rent to you.

      • Kaibosch on June 10, 2023 at 5:28 am

        Correct Barbara. All roads lead to WEFers goals as stated in the now infamous you’ll own nothing video. Everything that you require to get a mortgage and service it is being targeted, in addtion to the smaller insurers being put out of business, just like the rest of the small, independent sector. Weather tech is SO handy isnt it ? I mean, imagine what you can do with it to squeeze everyone into the digital concentration camp under the phony climate pretext. The water op is in full swing in Europe – heading towards the 2025 “existential” water crisis the head of the Bank of England “predicted” a few years ago. Now how would he know that I wonder and what is the Head of the BoE doing talking about weather? Hardly his area of expertise. Banking isnt even his area of expertise. Its all part of the “we told you so” occult practice that they use to avoid karmic blowback. No water = no food, no crops, farms going bust etc etc leading to “apocalyptic” food and water prices… Youre going to need that digital coupon…

  7. Kevin Ryan on June 7, 2023 at 12:16 pm

    Given the fires and flooding that have hit California, including the suspicious fires that seem to suggest targeting by disaster capitalists or other hostile entities, an insurer might ask, “Why are we doing business in a war zone?” With the increased and increasingly unpredictable costs for construction materials and labor, State Farm’s analysts may have concluded the disaster trend will likely continue to worsen and so it is time to contain losses by not taking on new customers. It will be interesting to see the attrition rate in State Farm’s California customer base over the next year. State Farm’s California announced strategy may signal more of a withdrawal than they have let on.

  8. Robert Barricklow on June 7, 2023 at 11:39 am

    Finance, Insurance Real Estate = Unearned income = not taxed
    = 1% economy = bottom of the heap in global compet1tion.
    “They” wanted a globalized world.
    The world’s leading economies are the ones
    using basically what’s called industrial capitalism,
    that works for 100% of the economy.
    The other is financial capitalism, that works for the 1% of the economy.

    Hard to insure an obvious loser.
    Especially when the 1% rely on Acts of God[read weather warfare,
    DEW[direct energy weapons], and other advanced hidden technologies.
    Add in the Commiecrat policies of a budding, back-to-the-future Soviet-style USSA,
    and you got a loser in spades, hearts, diamonds and whatever club you belong to.

    The controlled demolitions of disaster capitalism have gotten way out of hand.
    And “they” plan to finance space & beyond – by the 1% disaster capitalism system?

    Many economist call this Western system of finance: Casino Capitalism.
    There’s only two kinds of Casino Capitalists:
    Liars & Losers.

  9. anakephalaiosis on June 7, 2023 at 6:22 am

    When the Wild West is getting too wild, then there is a quick fix, by Elijah the Tishbite, who makes trouble go away, in flash of thunder.

    Man has free will, except within the realm of sanctity, where paradoxical crossover is observed as a principle, amongst natives.

    The Hollywood golem is a golden calf, and its industrial priesthood is incapable of producing truth, in the face of Elohim-Yahweh.

    1 Kings 18:15
    And Elijah said, that because the “solstice gathering of law assembly” is still at large, before whom I stand, I shall surely make my case, on this very day.

  10. Reka-Agota Kvalsund on June 7, 2023 at 5:22 am

    Oh, boy… Guess we can expect the same “phenomena” in Europe, too…

    • anakephalaiosis on June 7, 2023 at 6:43 am

      Europeans don’t buy into the Hollywood Jezebel of feminism. At some point, rabid females are just taken out. Euripides’ Bacchae is a known phenomenon, and only occurs under specific circumstances, when induced, by conjurers having been given free rein, that then quickly is turned into a noose, in response.

      In 1993, Ingmar Bergman made Euripides’ play into an opera:

    • Marco Fredriks on June 7, 2023 at 3:14 pm

      also in New Zealand with many once in a hundred years of rainfalls leading to massive floodings and one in a hundred years storm causing huge damages. Of course these once in a hundred years events are happening monthly.

      • Brendan on June 7, 2023 at 6:13 pm

        It’s the same here in Australia as in NZ. Though we don’t have volcanoes yet we do have some earthquakes. We have had our share of major floods in the last 10 years or so though. And then there are bushfires which it is predicted is going to be another bad one this summer.

        • Marco Fredriks on June 8, 2023 at 12:08 am

          if they can predict, they should also be able to mitigate isnt it?

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