May 10, 2023 - The Truth Central - Dr. Jerome Corsi
36:53
Russia Wants to Block Ukraine's Access to Black Sea, US Real Estate Crisis Mounts
US Commercial Real Estate has hit urban areas hard as the entire sector is in the midst of a bubble. San Francisco is another city reported to have fallen into crisis mode in that department. Overseas, Russia says it wants to block Ukraine's access to the Black Sea while China is backing Iran over the recent seizure of a us tanker carrying 800,000 gallons of crude from Iraq.As Dr. Jerome Corsi breaks it all down on The Truth Central, he also discusses new forensic evidence found from the JFK assassination which will prove the common narrative wrong.Follow Dr. Jerome Corsi on Twitter: @corsijerome1Our website: https://www.thetruthcentral.comOur Sponsors:1MyVitalC: https://www.thetruthcentral.com/myvitalc-ess60-in-organic-olive-oil/Swiss America: https://www.swissamerica.com/offer/CorsiRMP.phpThe MacMillan Agency: https://www.thetruthcentral.com/the-macmillan-agency/Pro Rapid Review: https://prorrt.com/thetruthcentralmembers/RITA: https://members.sayrita.com/truthcentralreaders/Become a supporter of this podcast: https://www.spreaker.com/podcast/the-truth-central-with-dr-jerome-corsi--5810661/support.
this is jerome corsi and today is wednesday its may tenth twenty twenty three and uh we're
here with the the truth central the truth central dot com thank you for joining us
There's a lot to cover today, so we're going to get right into it.
The first story I want to deal with has to do with the commercial real estate crash again.
A major building in San Francisco, which is the Union Bank Tower, right downtown in San Francisco, a building I've known for many, many years.
I did a lot of work with banks over about 20 years in annuities and mutual funds, starting in the mid 80s.
This bank building now, it's essentially foreclosure, and it's marking a trend of what's gonna be happening in commercial real estate.
That these older office buildings, many of them built in the 80s and 90s, when they finally get to sell in a foreclosure or regular transaction, they have to be deeply discounted.
So there's two towers, these two towers in Houston sold at a foreclosure auction, where the price, the lenders, the holders of the commercial mortgage-backed securities lost 80% and 88%,
they lost that much, 80% of their value in foreclosure sales in these 46 story buildings.
Now, the Union Bank is also up for sale.
And again, they're basically trying to find a buyer for it.
There's a number of towers on the market right now in San Francisco, and the commercial real estate market
is crashing because people aren't going back to work in offices, many are staying home,
and these buildings are largely 40% vacant.
It's measured, of course, by not only the leases, but also the people going through with their cards to get through security to get into these towers.
At any rate, these buildings are going to be sold at a very, very deep discount.
So what happens is that when these banks sell, the lenders get stuck with huge losses.
And so it's essentially dealing with a market that's going to collapse in the following way.
The offices aren't rented.
The people aren't going into these office buildings.
The landlords are not collecting as much money as they need to to finance their debt, their debt service.
They also are going to have to devalue the building because the building is not gonna have its economic worth if it can't be occupied.
And what happens is these buildings are sold into mortgage-backed securities, which are securitizations of the mortgages.
that are bought again by banks and other institutions as investments in their asset portfolios. When
this all starts collapsing in value, the assets, the commercial real estate value and the loans made
to basically finance these buildings, all of that has to be marked to market at a deeply discounted
80 percent in some markets, which is going to be a major hit.
And that collapse means that the banks in turn are holding these loans or the mortgage backed securities.
And those who hold those bonds have to mark those to asset assets to market.
And they don't have the asset liability ratio then that they need to remain solvent.
This is the kind of crisis that occurred in 2008, 2009, when the mortgage-backed security market collapsed and the subprime real estate collapsed, when people were being given loans, mortgages, when they couldn't afford to pay the monthly amounts.
And as interest rates rose, These loans became more expensive if they were adjustable rate and became more difficult to sell these properties because people buying them had to pay, right today, 6.5% interest, pretty common on mortgages.
That really stifles the mortgage market.
So we're in for a major collapse here and I don't see any way to avoid it.
The next story I want to cover, and you're not going to hear these stories covered very adequately in the mainstream media, but I'm following them and I think they're very important in terms of where we're going economically.
This one is about Russia.
Russia has been having some meetings on the Black Sea.
Ukraine exports a lot of its grain through the Black Sea.
The Black Sea is a very active sea for exporting.
And it goes through into the Mediterranean and then out to the Atlantic.
It's the southern route to the Atlantic for Russia, for Ukraine, and for many of these countries.
Now, when the Russian invasion of Ukraine started, Russia began blocking Ukraine's access to export through the Black Sea.
What Ukraine did was Ukraine then began exporting through Poland and other countries, but they began flooding the Polish market with grain from Ukraine, trying to find another way to get it into the international markets.
And that caused problems for the growers of wheat, for instance, in Poland.
So you had a major disruption of the market.
Now, recently, there was a Black Sea Grain initiative meeting on May 18th and Russia was threatening again to block Ukrainian seaboard exports of corn and wheat.
And the European Union has banned Ukrainian agricultural exports to Romania, Bulgaria, Poland, Holland, and Slovakia until June 5th with an extension due possibly year-end because of these local price pressures.
So again, it's a major disruption of the market and Russia at the same time is increasing its export of grain.
So the Ukraine's role in the global markets has eroded as its exports moved overland to the neighboring countries.
I'm just reading part of this article.
And without this Black Sea corridor, you're going to have a major economic impact on Ukraine.
Ukraine is one of the world's leading wheat exporters and what that threatens is a worst-case scenario of higher food prices worldwide.
Now, this is not a particularly good scenario.
Again, we're in a situation where we're having economic stagnation.
Because high interest rates are depressing economic activity, the U.S.
is printing an enormous amount of money on this modern monetary theory, and the BRIC nations are getting together.
They'll be meeting in the first week in June in South Africa.
Maybe as many as 15, 16, 19 countries could join the BRICs, which is Brazil, Russia, India, China, and South Africa.
Right now, the BRICS nations have 40% of the world's population or 25% of the GNP.
That's going to increase the GDP or GNP.
Basically, that's gross domestic product, gross national product.
That's all the goods and services produced in the world or in a country.
So we've got major disruptions going on economically that will produce stagflation, a period of economic stagnation and inflation like we had in the 1970s.
And this story about Russia and Ukraine has got to be watched very carefully.
Right now, Russia is not attacking the wheat-growing areas of Ukraine, which are in the east.
Russia's in the, I'm sorry, in the West.
Russia is in the East by Donbass, by Russia.
Ukraine is a divided country.
The East, closer to Russian, is much of it Russian-speaking and allied with Russia, whereas the West is closer to Germany, has been neo-Nazi even today, and was very closely aligned to Nazi Germany in World War II.
So, Ukraine is a divided country.
But the wheat fields are in the West, And right now they're able to produce harvests.
If the war expands into the West, even the wheat producing capacity of Ukraine is going to be threatened.
Ukraine is a important country in terms of wheat and corn production for the world.
And a lot of people are going to suffer and prices will go up and continue to skyrocket.
Among the major sources of inflation right now are food prices.
I mean, go to the grocery store, see what $100 will buy you.
It's pretty shocking how little you can get.
Now, this next story is also not being very closely followed, but it's very important.
There have been a couple of seizures Largely unreported again, in April, in May, on April 27th, Iranian Revolutionary Guard forces seized an oil tanker, this Advantage suite, as it sailed through the Persian Gulf into the Gulf of Oman.
And basically, the tanker was carrying 800,000 barrels of Iraqi crude oil.
It was for Chevron.
And then a few days later on Wednesday, May 3rd, the same Iranian naval vessel seized another tanker after it left Dubai for one of the ports also in the UAE, the Strait of Hormuz.
So Iran essentially is being backed by China.
And although Iran was saying that the second seizure was to a legal dispute going back to 2020, That involved the U.S.
and the U.S.
embargo on oil with Iran.
We're trying to block Iran's oil exporting.
One of the incidents here in 2020 involved the oil tanker, an oil tanker that was filled with crude oil and was destined for China.
Now, China essentially has given Iran support that encouraged Revolutionary Guard
to seize these two tankers recently.
And basically what this means is that we're seeing that the Iranian Petroleum Ministry and China
have entered into a 25-year comprehensive cooperation agreement
in which China has wide access to various elements of Iran's economy and are also buying Iranian oil
at a 30% discount.
And I hope you enjoyed it.
And this 25 year agreement gives China a hold over that area of the world, including the Persian Gulf, which is extremely strategic part.
If you look at the Middle East, And Iran continues to be working with Russia, supplying drones in the attacks on Ukraine.
So you're getting an alliance forming between China, Russia, and Iran.
Iran continues to support the terrorists in the Middle East.
Who are launching missile attacks against Israel.
I just saw yesterday, in fact, there were airstrikes from Israel and Gaza trying to block some of these Hamas rocket attacks into Israel, which have stepped up and escalated.
So, if Iran, which has vowed to destroy Israel is supplied economically, supported economically by Russia and China.
Iran's going to become more dangerous at exporting terrorism.
I've been writing about this.
I've written three books on Iran.
My first one was Atomic Iran in 2006.
What I was worried about in 2006 seems to be happening today.
It looks to me as if Iran will have nuclear weapons because the Biden administration and John Kerry, John Kerry's been a supporter of Iran since 2004 when I opposed him with Unfit for Command, the book on the swift boat.
veterans who opposed John Kerry, I co-authored the book with John O'Neill, who was a swiftboat
veteran who commanded John Kerry's boat when John Kerry left Vietnam. At any rate,
this is a very dangerous axis and it again affects the oil transport because a large
percentage of the world, about 30 percent of the world's crude oil moves through the Straits of
Hormuz at any given time, and if China has control over a lot of that area, China's going to be in a
strategic position to control a lot of the world's oil flow.
below.
Again, if the United States backs away from producing oil, natural gas, etc., which is, I think, suicidal economically, We're going to be seeing China and Russia taking full advantage of hydrocarbon fuels and building their economies.
So this is a extremely difficult time.
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Let's go back to a couple more stories I want to cover, and Chris, do you want to comment at this point?
We've covered a lot already on the show.
It looks to me, when you see the fact that Iran is able to seize our oil supplies when they kind of fly by their territory, China is flexing its muscles a bit more, Russia is going as deep as it can into Ukraine, knowing that it's not stupid enough to destroy the actual productive portions of the, or the food-producing portions of the country.
That's one of the reasons why they want Ukraine.
The other one, of course, the access to the Black Sea.
One wonders is, China and is Russia are the BRIC nations, the Middle Eastern nations who traditionally have been adversarial toward us.
Are they looking at a one and a half year window of opportunity left to actually do what they can do to destroy our standing economically before a change is made in, let's say, national leadership, most likely?
Well, that's a very good question.
I mean, Biden has been Everything you could do to destroy the country.
I mean, the border situation, the economic printing money, the not caring about Iran going to nuclear weapons, I think you're raising a very good point.
And by the way, Chris has put up the store, and here we have my first cup I got of it, which is the, you can see it's got the logo on it for the For the Truth Central and you can get these now on the store on the top bar.
We have a lot of different items up there you can order and we're going to get the truthcentral.com logo out there and hopefully seen throughout the United States.
A nifty logo.
I like the logo a lot too.
I think it's the best logo I've ever had.
Now two stories that I want to cover as well.
I have an article today on American Thinker, and this is a very important article, I believe, because I'm showing that the IPCC, the Intergovernmental Panel on Climate Change at the UN, which is saying that we need to go to net-zero emissions, that this is a neo-Marxist, post-modern value narrative.
It's not science.
In fact, what I point out in the article is that I thought that was a pretty nifty image.
I'll explain the image in a minute that goes with this, but one of the editors of American Thinker put that together.
The article is basically saying the following.
The scientists doing the global warming science, like Michael Mann, who did the hockey stick theory.
The hockey stick theory is that the Earth had perfect weather, the temperatures were just copacetic until the Industrial Revolution when we started burning hydrocarbon fuels, and then like a hockey stick, the blade of the hockey stick, the Earth's temperature just shot up.
And that's where it became extremely warm because we were using hydrocarbon fuels that emit carbon dioxide, which is a greenhouse gas.
Now, even Michael Mann knew it was a lie.
And that was proven with the There was a big scandal shortly after he did this paper where a whole set of emails were hacked out of a computer in East Halifax in Great Britain and this is one of the computers that the IPCC scientists were using to communicate with each other and it was clear that they were rigging the data because historically there's been much more carbon dioxide in the atmosphere, much more,
And we've had ice ages.
And they erase things like the Little Ice Age, which occurred again in the Industrial Era.
It occurred around the time George Washington was fighting the British Revolutionary War.
The big ice flows you see in the Delaware, Washington crossing the Delaware.
Well, the Delaware doesn't freeze like that anymore.
And the same little Ice age that got Napoleon's troops frozen coming out of Russia.
We've had varying, the sun is really the major factor, and climate scientists know this.
When the sun is dormant, the earth gets cooler, we have little ice ages.
When we get further from the sun in our elliptical orbit, about every hundred thousand years, we're farthest away from the sun, we have ice ages.
It has nothing to do with carbon dioxide.
Now, what I'm pointing out is that the left, we have to understand that today's left, with this critical theory, which is all out of the Frankfurt School, a group of Marxists from the Weimar Republic in Germany were fighting against, the communists were fighting against the socialists, the Nazis were national socialists, it was a fight on the left, they were having street riots.
The Nazis won, the communists actually had to leave, the Frankfurt School largely came to the United States during the war, and that and these post-modernist French writers like Jean Baudrillard, who I'm sure very few people listening to this show know about, but these are taught in the universities.
Now What it means is, and this will be my new book on the truth about neo-Marxism, cultural Maoism, and anarchy.
I'm trying to write about all this stuff and get it out there so it's available to you as fast as I can.
But really, for neo-Marxism, they oppose carbon dioxide because they want to destroy capitalism.
And they've decided the best way to do it is to attack the culture of capitalism.
So they want to make you think that carbon dioxide is noxious, even though we exhale carbon dioxide, even though it's plant food.
Because they don't want us to use hydrocarbon fuels.
They know it will reduce our standard of living about 75%.
We'll be eating bugs.
We'll be not able to have gas stoves.
We're gonna have to redesign our cars to be electric vehicles.
Saw recently an article, somebody had a accident electric fender bender with an EV.
It cost them $40,000 to repair it.
These are not practical vehicles.
Now, Baudrillard is extremely important.
The Matrix movies used Baudrillard.
Baudrillard said there is no such thing as objective reality.
We only perceive reality through our senses, and so therefore we have narratives about what we're seeing.
So, during the Gulf War in 1991, he actually wrote a book saying the Gulf War did not take place.
No, but really I knew that there were troops over there fighting.
What he meant was that the narrative about the war, that Saddam Hussein had weapons of mass destruction and that there was a need to go over there and save Kuwait.
And we had an international coalition under George H.W.
Bush.
So that was all nonsense.
Saddam Hussein stayed around.
Nothing really changed.
It was just basically, he discarded the whole event.
So, Baudrillard said, it's like the Matrix.
All we experience is the narrative, what we're being told.
And so, in fact, the Matrix movies started with one of Baudrillard's books.
He had a very famous book called Simulacra.
Simulacra is the image of something.
The artistic representation of it, the image of it, well he was saying all there are is images and so we live these images and it became John Lennon, let's imagine, all this reimagining, let's reimagine the police, let's reimagine, so we could make up our own reality since everything is subjective.
And so when the left says that there is a scientific consensus that carbon dioxide is causing global warming, they do not mean that the science supports that.
What they mean is that scientists who understand their future utopia see why it's wrong for us to use hydrocarbon fuels because they're dirty, they're polluting, there's too many people.
We've expanded the earth to exhaust its resources and therefore we need to get away from capitalism.
We need to have a lower standard of living.
John Lennon wanted us to imagine there was no God in heaven.
So the nations wouldn't fight.
Well, I'd like to imagine there was no John Lennon, because there is reality, and this whole woke reality is living in a make-up Marxist utopia that they think is the way the world should be, but it isn't the way the world works.
And a lot of the 20th century has been about discarding ideas that sound good, but just don't work.
And this is an idea that doesn't work.
The idea that we can have solar, wind, and battery, and sustain everyone.
So the image that's done here is really kind of a Baudrillard echo imagining his wasteland from carbon dioxide, and it's really a fantasy in the left's head.
Because carbon dioxide does not scientifically cause much change in the Earth's atmosphere at all.
Water vapor is 70% of all greenhouse gases, not carbon dioxide.
Let's move to this last story.
Yesterday, Gateway Pundit Robert Kennedy Jr., who is running for president, has been talking about the CIA assassinated Jack Kennedy.
Well, coincidentally, it just happens that I've been working for the past, I don't know, close to a year.
We, in fact, when I had my old show, Corsi Nation, we did interview Dr. David Mantic.
Mantic is a radiologist.
Radiologists study x-rays.
Oncologist, so he x-rays with a specialty on cancer.
Been practicing this for decades.
He has both a Ph.D.
in physics and an M.D.
in medicine.
Now, David Mantek had, for 30 years, got permission to go to the archives and the Kennedy family granted him permission to take a look at the x-rays, JFK's clothing, the ballistic evidence of the shooting and the assassination.
And what Dr. Manning did is he made optical density measurements, which are scientific measurements.
I'm writing a book with him.
We're going to have a new book out.
The new book is going to be called The Assassination of John F. Kennedy, The Final Word, because now we have scientific evidence.
It's certain with beyond a doubt, beyond any doubt reasonably.
If you understand physics, this stuff is dead certain.
What David Bantik did, optical density, you measure how much light gets through onto a negative.
And what he was able to do, he was able to see elements, objects, the three x-rays in the archives are all forged.
And they were forged to hide the evidence of the real shooting.
And you can, Dr. Manik has determined the real shooting.
He's measured every metal fragment that was in Jack Kennedy's head.
You see, these x-rays were x-rays from Jack Kennedy in the autopsy, but they were altered.
And you can tell that because there were x-rays of Jack Kennedy's head, skull, when he was alive, and they matched them, and there's characteristics that match identically, and including the teeth.
In the x-rays, so these are Jack Kennedy's autopsy x-rays, but they're altered.
A bullet was placed in one of them, it looked like a 6.5 Mannlicher Carcano shell, but that bullet is a fake object.
The optical density makes it clear.
Now, I happen to have studied photography, going back to when I was a kid, and I understand optical density measurements.
And when you understand, when this book is published, Robert Kennedy will have definitive scientific proof that Jack Kennedy was shot with three times, two shots hit him from the front, both from the front right, the grassy knoll, and one shot hit him from behind, but at a low angle, probably from the Daltex building, not from the school book depository, Texas School Book Depository.
These were not shots fired by Lee Harvey Oswald.
And shots from the front and the back, Which the x-rays and the optical density measurements leave to be absolutely clear and irrefutable.
We can show you one of the shots from the front and how the metal is still in, was in Jack Kennedy's skull and didn't exit.
So, I mean, this is going to be a shocking book, and we're going to be offering it to Robert Kennedy, Jr., if he wants to write the foreword.
We're going to be getting in touch with him and making him an offer to have—it was on Hannity last night.
And when they said, what's your proof?
What's your evidence that the CIA killed Kennedy?
Robert Kennedy Jr.
had to be vague because he had all the evidence, which has been circumstantial and argued about for 60 years.
This evidence is not arguable.
Dr. Mantek has really solved the case.
This book will explain the science to the public in a way the public will understand.
I'll have it finished.
We're doing the draft right now.
We should be finished with it sometime early June.
We'll get it into print this year.
Any final comments here, Chris, as we wrap up?
I've always found the JFK assassination and the RFK assassination rather interesting intertwined with the Marilyn Monroe, and I'll call it assassination.
Recently on another show that I host, We've discussed all three of those with a gentleman named Jay Margolis who has been studying all three of those killings over the years and has written several biographies and discussions on each of those characters and things like that.
It's amazing how a lot of those three, and I'm going to say it again, murders were intertwined.
Well, that's a good point, and we'll be covering that more as this book comes out, and hopefully working with Robert Kennedy Jr.
on it.
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Anyway, this is Dr. Jerome Corsi.
Let's wrap up.
Today is Wednesday.
It's May 10, 2023.
Like I say, in the end, God always wins.
God will win here, too.
Things may look difficult and tight, and they are.
We're going through a very Dark age of disinformation, but I see Tucker Carlson emerging on Twitter.
I see Robert Kennedy Jr.
emerging with the truth about the assassination of his uncle and his father.
