“Bankruptcy For Moderna, Definitely Pfizer”

Yves here. I’m in no position to verify the underlying data, but the fact that both Moderna and Pfizer stocks are markedly down says investors regard these concerns about vaccine liability as serious.

A lawyer buddy thinks that even if this take on the frequency of bad side effect is spot on, Pfizer and Moderna still might get off the hook on product liability in the US. However, shareholders would have them dead to rights on securities fraud, for not disclosing to investors the information they had about serious vaccine side effects and the impact that could have on willingness to get boosted. In addition, foreign countries that also gave liability waivers are not as likely to be forgiving as the US. We could see a Boeing 737 Max replay, of foreign regulators lowering the boom and the US position eventually becoming untenable.

The plural of anecdote is not data, but consider this from IM Doc:

I will report what I am hearing as recently as yesterday.

An ex-Covid-vaccine company executive.

There are lots of detonations getting ready to happen. The life insurance companies and many Wall Street firms who feel they have been defrauded are the ones getting the cannons ready to fire.

My understanding is the liability is actually not the adverse events as such. They have liability waivers for that. It is for fraud. Once fraud is proven, the liability wavers go poof. Apparently, there are people lining up with hands open willing to sell all kinds of damning documents.

We were apparently not alone with the “something is wrong” take from the earliest paper. The incident with the testing centers being accused of fraud by employees, the subsequent bmj paper about that, the two vaccinologists resigning from FDA, and now the latest CDC admissions and presenting papers for FOIA with everything redacted – all are taking a toll.

apparently, the play here is the insurance companies and hedge funds screwed by disastrous Moderna and biontech share prices are taking the lead for the fraud to be shown. Then they will sue these companies for damages.

I asked the guy if he thought it would work. His response “Pfizer certainly does.”

In the meantime, as alluded to above, this sort of thing does not inspire confidence:

By Raúl Ilargi Meijer, editor at Automatic Earth. Originally published at Automatic Earth

Justus R. Hope, MD, at Desert Review has a long article up on the views of former Blackrock exec, hedge funder, investment adviser Edward Dowd, along with a neverending list of podcasts. To which I will add a few at the bottom of this article. We’ve seen a few Dowd videos lately, but nothing like this. He should be on Joe Rogan ASAP.

The entire thing is so complete, devastating, shocking, that I don’t know what else to do than give you some quotes. It very much feels like the end of mRNA, and of the FDA in its present shape, because they -the government itself- are deeply complicit in outright investor fraud. Wall Street (“multiple brokerage houses”) is finding this out, Moderna stock is already down 70%, and that’s just the start.

mRNA vaccines are killing and maiming people: “..no matter the effort, one cannot hide the bodies – and “the bodies are piling up.”

Good luck with your vaxx mandates.

Pfizer & Moderna Investors Run for the Exits

Wall Street investors are dumping their Moderna and Pfizer stock faster than the world can drop the mandates. Moderna is down 70 percent from its high, while Pfizer is off 19 percent. Former Blackrock Executive and investment adviser Edward Dowd calls for Moderna to go to zero and Pfizer to end under ten dollars per share.

How is this possible given that Pfizer now enjoys record earnings per share and a market capitalization of some $270 billion, making it the 29th largest corporation globally? With nothing but profits in sight for the Pharmaceutical giant, what could be the problem?

[..] For the skeptics, consider that Pfizer stock lost $20 billion in market capitalization on February 8, 2022, when their record earnings fell short of more optimistic expectations. Also consider that Moderna’s stock is down some 70 percent from its high of $484 on August 9, 2021, wiping out almost $ 140 billion in investment. Dowd predicts Moderna will drop to zero with bankruptcy as fraud related to concealing the COVID vaccine dangers surfaces, and he predicts Pfizer will become a sub-ten-dollar stock. Dowd explains that the smart money has already left Moderna and will soon be exiting Pfizer.

Dowd foresees an avalanche of lawsuits coming as the insurance industry continues to uncover the legions of mounting deaths coming from the complications of the mRNA COVID-19 vaccines. Dowd teamed up with an insurance industry analyst and researched the life insurance claims. They found that since OneAmerica shocked the world by announcing a 40% rise in non-COVID deaths in younger working-class employees, multiple other insurance companies worldwide have seen the same thing – massive rises in non-COVID deaths. And the evidence inescapably points to the vaccines as the cause.

Meanwhile, the funeral company stocks have outperformed the S&P. “Funeral Home companies are growth stocks. They had a great year in 2021 compared to 2020, and they outperformed the S&P 500. The peer group of Funeral Home stocks was up 40 plus percent while the S&P was up 26 percent – and they started accelerating price-wise in 2021 during the roll-out of the vaccines – You don’t need to be a rocket scientist to connect the dots here.”

Other insurance companies have reported the same or worse death numbers as OneAmerica. For example, “Unum Insurance is up 36%, Lincoln National plus 57%, Prudential plus 41%, Reinsurance Group of America plus 21%, Hartford plus 32%, Met Life plus 24%, and Aegon – which is a Dutch insurer – saw in their US arm plus 57% in the 4th quarter – in the 3rd quarter they saw a 258% increase in death claims.”

“They raised (mortality) expectations 300,000 for 2022 over 2021 due to COVID plus ‘indirect COVID,’ which I think we know what that’s code for… They (Aegon) did a $1.4 billion reinsurance deal with Wilton Reinsurance…what they were reinsuring were high face amount individual policies from 1 million to 10 million… (So) I think there is an asymmetric information situation going on in the insurance industry where some people have figured out something’s going on. They are off-loading their risk – they are not going to say what it is as they don’t want that information to get out as they unload the risk.”.

“Someone is going to be the bag holder here.” And Dowd is confident it won’t be the insurance industry. A court in France has already held that a life insurance company cannot be held liable for a death because of the mRNA vaccine. But that does not explain how mRNA manufacturers can be held responsible for an emergency product they were told was liability-free. Aren’t the vaccine manufacturers immunized from lawsuits? After all, they were granted EUA, the specialized Emergency Use Authorization, which means they cannot be held legally accountable for deaths or adverse effects stemming from the experimental vaccines.

The idea is that no company – upon government request – should have to pay for unforeseen complications resulting from an emergency product that they released to the world out of their goodness of the hearts, with the best of intentions. Right? Wrong – not when your company accomplishes this through deceit, also known as fraud. Fraud undoes all these protections. If a company or person intentionally deceives another to profit, we have fraud. If Pfizer’s data showed increased all-cause mortality and hid this to motivate people to take the vaccine while claiming it was safe, then fraud exists.

Under common law, the required elements to prove fraud amount to: #1. A materially false statement or purposeful failure to state or release material facts which non-disclosure makes other statements misleading. #2. The false statement is made to induce Plaintiff to act. #3. The Plaintiff relied upon the false statement, and the injury resulted from this reliance. #4. Damages include a punitive award as a punishment that serves as a public example to discourage any future similar fraud. Punitive damages are generally proportional to the Defendant’s assets.


Dowd has been researching the COVID-19 vaccines and what he considers obvious evidence of knowing concealment of the actual risks of death – and he points to the Herculean efforts of Pfizer with FDA in withholding their data despite legal challenges to release it. He likens the FDA today to the rating agencies during the Mortgage Crisis. “FDA is the trusted third party, just like the rating agencies were. And a lot of doctors in this country, a lot of local governments are placing their trust in the FDA which gets 50 percent of its budget from large cap pharma. It wasn’t any one person…I think they overlooked things…An all-cause mortality end-point should have stopped this thing in its tracks – and it didn’t.”

There were more deaths in the vaxxed group than in the unvaxxed. Dowd assumes fraud based upon the FDA backing Pfizer in not releasing their data. He believes this is a knowing attempt to conceal the deaths. “When one party enters into a contract…and fraud was occurring when they entered into that contract, and the other party did not know that – the contract is void and null. There’s no indemnity if this can be proven, and I think it will be.” “Pfizer got blanket immunity with EUA. If fraud occurred, to my mind and what I’m seeing from their refusal to release the data – if there is fraud and it comes out – and we need whistleblowers – and it’s looking more apparent that this product is deadly – fraud eviscerates all contracts – that’s case law. So you go down the daisy chain, and that’s liability – that’s bankruptcy for Moderna, definitely Pfizer.”

Dowd remarks that no matter the effort, one cannot hide the bodies – and “the bodies are piling up.” He notes that the deaths skyrocketed after the vaccine rollout when they should have dropped. And the deaths are what distinguished the 2021-2022 vaccine scandal as far worse than what happened with Enron. “People are dying and being maimed. This is a fraud that goes beyond the pale…We have the VAERS data…We have the DoD leak…And now we have the insurance company results and the funeral home results…We don’t need to think too hard about this…Deaths should have gone down after the vaccines rolled out. This is the most egregious fraud in history of the nation – and it’s global…Pfizer’s involved, and they committed fraud,” Dowd explained.

[..] Dowd emphasized that he is not short on Pfizer or Moderna stock. He explained that he does not profit from their share prices dropping. He also points out that his predictions are not the cause of the steep declines as these occurred before he came out with this analysis. “Let me make a point here. The mainstream media may ignore this. Wall Street is not.”

[..] Edward Dowd cautions those who continue to slumber, “If you are long these two stocks, you are long mandates, you are long government control, and you are long the selling of your freedoms.” Let us get everyone on board the freedom train.


More Dowd.

Multiple Brokerage Houses Now Investigate MRNA Jabs

EXCLUSIVE: Wall Street Taps Pfizer Whistleblower to Help Probe Alarming Details of Fraud During VAX Clinical Trials; Former Blackrock’s Edward Dowd Drops More Bombs as ***MULTIPLE*** Brokerage Houses Now Investigate MRNA Jabs






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  1. Lina

    I don’t know but what I do know is that the Pfizer vaccine gave my daughter a severe reaction. The first was bad, the second horrible. 2 weeks post vaccine and she’s still struggling with bad stomach / GI issues. She will NOT get another one if these vaccines again.

    1. lordkoos

      I refuse to take more MNRA vaccines after my bad reaction two weeks after my second Pfizer shot.

      Bankruptcy for Pfizer and Moderna? Sweet.

  2. Henry Moon Pie

    The Biden Administration has given us all these “tools” to allow us to protect ourselves now that the government has stepped aside to “let ‘er rip.” The only problem is that the tools were made by Acme. (video)

    1. anon y'mouse

      the “tools” were dumbo’s feather to get us all to go back into the workplace without asking too many questions about actual steps towards mitigation.

  3. outside observer

    How do we know the non-covid deaths are not post-undiagnosed-covid deaths? Are insurance companies in other countries with better health data collection seeing the same results?

    1. Larry Carlson

      I don’t think we really know much of anything at this point. Life insurance companies only get access to death certificates, which don’t really give a detailed picture of what led to someone’s death. The FDA and CDC don’t seem to want to collect certain data, and they don’t want to release all the data they have. The clinical trials for the vaccines were hastily conducted by parties with a strong financial interest in the results, and were unblinded fairly quickly.

      I have zero interest in a booster at this point, since the basic fact that COVID deaths haven’t really dropped off much after the vaccines became widely available suggests to me that they have a very limited benefit. I tend to think of them as being similar to flu vaccines, which may offer minimal mortality reduction, but can look more effective due to self-selection of their relatively healthy recipients.

    2. Objective Ace

      That might play a roll, but the underlying clinical trials that show the vaccine arm is more likely to end up dead is pretty damming.. even if there are other variables at play compounding the matter

      1. t

        Didn’t see anything addessing the very common US practice of vaccinated, partially vaccinated, and rabidly anti-vax Assuming a Covid-is-over policy as soon as vaccines were available.

        Also no indication if anyone at Moderna or Pfizer has a peek at data from organizations, like Fox News or Akin Gump maybe, who effectively have vaccine mandates and pretty good data on who and when for vaccinations, Covid cases, and outcomes. (Missing data on some remote workers, people who left.)

        1. anon y'mouse

          Also no indication if anyone at Moderna or Pfizer has a peek at data from organizations, like Fox News or Akin Gump maybe, who effectively have vaccine mandates and pretty good data on who and when for vaccinations, Covid cases, and outcomes.

          what good does that actually do? yes, you may be much more likely to “catch” such things at work, but what are you doing in your off-time?

          people can catch this virus standing in line at the grocery store, vaxxed or unvaxxed. until the companies you list can regulate every hour of their employee’s lives (yes, i know—don’t give them ideas!) and track everyone at all times, it’s only a set of assumptions that the data would “prove” anything about these mandates or vaxx shots being effective.

          this is a lot like the set of assumptions that the shots themselves “have resulted in lower hospitalization/severe outcome rates”. which version of the virus are we talking about, and how has anyone accounted for varying activities (and possibly changing behaviors over time in reaction to circumstance) of the participants?

          it’s about as garbage science as most dietary consumption (“consuming x 3times per week –resulted– in lower y levels!”) studies are.

    3. jeff

      This is a good question. Kind of like the question I’ve been asking for the last 18 months: Since hospitals were incentivized to report covid cases, when will an audit take place to ensure the reported numbers were accurate and that hospitals weren’t spiking the numbers?

        1. Socrates Pythagoras

          As we are often told, “The plural of anecdote is not data.” However, I have multiple relations in the areas of medical coding and healthcare analytics. Six months ago they were ALL talking about hospitals revising their records to include COVID-19 diagnoses so they could get a piece of the treasure trove of reimbursement money. Providers were allowed to go as far back as one year and make those changes.

          On top of that, providers have been defaulting to making COVID the primary diagnosis regardless of the reason a patient came seeking treatment. So, if I came in with a broken arm and tested positive for COVID, my visit was coded “COVID with broken arm” not “broken arm with COVID”. COVID being the primary juiced the reimbursement rate.


      1. JBird4049

        Some, like certain states, fudged the numbers downward, while others, like hospitals, might have fudged them upwards. We might have accurate numbers, the number of covid deaths might be tracked between all the fudging. I hope.

        1. 1 Kings

          Dr. Robert Malone said the hospitals got $3500 per for every diagnosed case, and more if a death ‘attributed’ to Covid, determined by their accountants I’m sure.

          1. Yves Smith Post author

            Malone is not a good source. I’d trust this only from a hospital-connected whistleblower or better yet, someone who could point to who and how this was being paid, as in under what program.

            Moreover, causes of death go on death certificates. Family members have to have them to settle the affairs of the dead. If this was happening on any significant basis, you’d expect to see family members telling the press. I would most certainly have screamed it to the rooftops if that had happened with my mother.

            1. James

              Ya there’s no actual evidence of this being a widespread thing. There was one hospital in Texas that got caught and then everyone just started saying that all hospitals were doing it. If it was as common as people are claiming then why are so many hospitals on the verge of bankruptcy? I would also think it would be pretty obvious from analytics and diagnosis records. The main problem with a lot of covid issues just seems to be a lack of transparent data, data standards and just a lack of ability to get to primary sources.

              1. 1 Kings

                OK. But do we assume that all the Private Equity controlled hospitals are doing just fine.

                First rule of monopoly make competition go bankrupt, then buy cheap. Mr Potter showed us that vs Bedford Falls

              2. Mikel

                “If it was as common as people are claiming then why are so many hospitals on the verge of bankruptcy?”

                Institutions rife with fraud or bad management can go bankrupt. It’s about where the money flows in and out.

    4. HotFlash

      Insurance companies have a lot of experience predicting the likelihood that they will have to pay out on policies. They are very, very good at it so that so they can set premiums high enough to cover future claims. This is actuarial science, and it’s pretty dam’ precise with industries having special expertise in predicting the events they insure, whether deaths, sickness, injury, floods, Betty Grable’s legs or — whatever. Lloyd’s of London has been doing this since (checks notes) at least 1688, but there are many, many more.
      So what insurance companies can check, with real numbers, ie death claims filed, medical insurances claimed, what damages is being done to a population, and compare those to historic rates. They don’t really care what people die of, but if there is an overall increase in the expected rate of death, this is known as ‘excess deaths’, they will notice it for sure.

      I have watched this pandemic unfold for over two years (thanks, Yves and all!) and when it was clear what a clusterfork it was in every possible way, I wondered when the insurance co’s would start asking questions. I so hope they really get those answers, and that a whole bunch of folks get matching orange jumpsuits.

    5. Telee

      For myself, I want to see more evidence that excess deaths were actually predominately caused by the RNA vaccine. So I have questions along the line those suggested by outside observer. Listening to the broadcast does not provide adequate support of the premise. We need to see the results of their trials. I just read that India was ready to buy from Pfizer but the deal was terminated because Pfizer would not show the trial results. Involvement of the CDC and the government in fraud would not surprise me. The level of corruption in this society can’t end well.

      1. Yves Smith Post author

        Due to being distracted by events in Ukraine, I failed to add an important caveat:

        The bad vaccine reactions could to a significant degree be the result of getting vaccinated too close to an undiagnosed Covid case, either the famed asymptomatic cases or a mild case.

        Covid also has some bad effects on a delay, particularly long Covid. That would also need to be parsed out.

        1. VIGuy1952

          Ummmmm……….more died in the Pfizer “vaccine” cohort than in the control. While from a logical and practical point of view, you would think that all-cause mortality would be more significant than anything else, that was not the end-point they were attempting to establish. Additionally, they ended up “vaccinating” everyone. That completely negated any results.

          It reminds me of the recent Malaysia trial for Ivermectin. 3 died in the IVM group and 10 in the “standard care” group but the trial was touted as another IVM “flop”. Why? because the trial was looking for cases leading to severe illness. How much more severe could you get than death? I don’t get it. And yes, what’s happening in Ukraine is very disturbing.

          1. Yves Smith Post author

            Yes, you appear to have missed that we criticized the failure to use all cause mortality as an endpoint.

            However, the “control” was only in place during the pretty short clinical trial period. Pfizer and Moderna quickly corrupted that by offering vaccines to the controls and I am pretty sure nearly all if not all took them.

    6. VIGuy1952

      Yes, this increase could definitely be partially attributable to deferred care. However, do a little research and have a look at the correlation between vaccine rollout campaigns and all-cause mortality. From every country that has published those stats the direct correlation is clear and undeniable.

  4. scraping_by

    For a quick primer on fraud in approval studies, read ‘The Real Anthony Fauci’ by Robert F Kennedy Jr. The book is depressing as hell, but tells a pretty consistent story about double dealing on public health.

    As one old enough to remember the AIDS hysteria, I always wondered why that just disappeared and left a few drugs in its wake. Now I know that story, I’m waiting for Covid to similarly shuffle off stage and leave a bunch of guys shrugging and asking “19 who?”

    1. Yves Smith Post author

      Just so you know, that book is very uneven. I checked out some of the footnotes and they abjectly misrepresented studies they cited. Having said that, it is probably good on the AIDS part (old settled history) and on money influences, but his reading of the science with respect to Covid is pretty skewed.

      1. scraping_by

        Kennedy is a lawyer, after all. Since his practice is environmental injury, this might be the outlines of a class action case. Not the sort of passive voice labelled three times as speculation one reads in scientific papers.

      2. lordkoos

        That was exactly my impression. I began reading it until the part where he started going off on how wearing masks is bad, and then stopped reading.

    2. HotFlash

      Another book worth reading, from 2002 (so untainted with current scams, but an indicator of general modi operandi even back then, is Jeffrey Robinson’s “Prescription Games”. Amazon lists used hard cover at $3.15 with free shipping.

      I read it around the time of the ‘clinical trials’ and decided did I not trust Big Pharma with that mRNA thingy. Based on my layperson’s understanding of corona viruses, I already had doubts that there could be an effective vaccine against a virus that mutates so quickly. Then came IM Doc’s specifics on the tests, GM’s serious doubts as to the vaccine trials method, immunologist ignacio’s concerns, then Robert Malone, Byram Bridle warning about the spike protein being possibly cytotoxic, and on and on. The prompt, vigorous, and global suppression of any negative info on the vaccine concomitant with suppression, with extreme prejudice, of any preventions and/or therapies other than “take Tylenol and come back when your lips turn blue and we’ll maybe put you on a ventilator” set my spidey-sense a-tingling even more. My heartfelt and sincerest thanks to the lady Yves, Lambert, the NC Covid braintrust and all of the invaluable commentariat for saving lives.

      1. Objective Ace

        I’d also add “Sickening, How Big Pharma Broke American Healthcare and How we Can fix it” by John Abramson. He also did a podcast on Joe rogan. Very good specifics on the Vioxx clinical trials which amounted to fraud as well. Not at all surprising to see the same dynamics play out since Pfizer only ever seems to receive a slap on the wrists for fraud

    3. Geoff S

      I work for a HIV charity and I can assure you that the virus has not gone away. It is just extremely well controlled by combination drug therapy, to the point that most properly-treated HIV+ people have undetectable levels of virus. This means that infection rates in rich countries have fallen by a lot, and life expectancy is not terribly far off normal.
      Quite a different state of affairs exists where treatment is harder to get.

  5. voislav

    Another factor in the falling stock price is that the variant-specific boosters have not found any customers. Both companies were developing omicron-specific vaccine, but they no takers for it.

    With other vaccines coming into the market that are cheaper to store and administer, it looks like that the COVID vaccine will be one-and-done product for Pfizer and Moderna rather than recurring source of revenue.

    1. Arizona Slim

      About a month ago, I was chatting with a neighbor who works in a supermarket. She told me that the pharmacy hadn’t given any booster shots in several days. People just weren’t coming in anymore.

    2. albrt

      Yes, the stock was priced for everyone in the world getting one of these shots every six months forever at government subsidized rates. Now that is looking extremely unlikely for a whole bunch of reasons.

      I don’t think it takes much more than that to explain the stock price declines.

  6. Chris

    Christ, capitalism seems hellbound on destroying any remaining faith in our institutions that we might have left. This country is going to become ungovernable very soon

    1. Jeff

      This isn’t capitalism. It’s the marriage between corporate interests, bought politicians and their appointees and reporting/brainwashing/propagandizing 330 million of us to believe myths along the lines of Zeus and Athena.

      When questions are shouted down and scapegoating replaces conversations, it’s not hard to see that something’s rotten in Denmark. The propaganda was/is so effective it made normally intelligent people believe garbage. Even got them to believe the unvaccinated shouldn’t get medical treatment.

      Guess we should be adding “Ordinary Men” to high school reading curriculums.

      1. Alex

        “This isn’t capitalism. It’s the marriage between corporate interests, bought politicians and their appointees and reporting/brainwashing/propagandizing 330 million of us to believe myths along the lines of Zeus and Athena. ”

        How is that not capitalism?

      1. Louis Fyne

        The P/E valuation of Moderna is at distressed company levels—unheard of for an allegedly healthy biotech company. Compare forward P/E MRNA 4.8, Pfizer 8.49, versus JNJ 14.6. Amgen 11, Merck 10.5.

        Something smells.

        Maybe Dowd is right, maybe he is wrong, but something still smells

  7. flora

    Thanks for this post. Dowd seems like a no-spin commentator on the topic, well versed in analyzing all the factors around stock price and like price movements, and with no personal financial stake in either company.

    1. albrt

      I do not agree that Dowd seems no spin – he seems to be hyping his short, and I was disappointed to see that the whole article was based on speculation from him.

      I do not have any problem believing that serious problems will emerge relating to the vaccines. I do not have any problem believing that the FDA and CDC are corrupt. But the “deaths skyrocketed” and similar language from Dowd implies numbers too large to have been hidden up to this point. He doesn’t use actual numbers, but the numbers he seems to be implying would not make sense.

      There is definitely something afoot, probably multiple somethings, along the lines of what we have heard from the brain trust. But this article does not tell us much beyond the fact that these stock values were way overinflated and there are a bunch of people running around with pins.

      You could say that about most stocks right now.

        1. albrt

          I am not at all surprised to see total death numbers way up for life insurance companies. A bunch of people died of something that wasn’t in the actuarial tables. If those people had a known condition the insurance companies never would have written the policies. But I would be very surprised if the increase in insured deaths were even 10% attributable to the vaccines.

          Anything approaching 1% of deaths being attributable to the vaccines would be a terrible scandal, and the numbers would be plenty big enough to explain some of the CDC’s curious behavior if the CDC is covering things up. But that is not in the same ballpark as implying that a 20% to 50% increase in death rates of insured people is all attributable to the vaccines.

          1. flora

            Understand that the life insurance claims the companies are referencing are for group life insurance policies; policies written for corporations’ work force employees as a worker benefit. I have a corporate life insurance policy. So these are policies for working people between the ages 18-65. The companies numbers aren’t about individually written policies. My presumption here, and it is a presumption, is that these are people healthy enough to keep a job, people not drown in substance abuse or poverty despair/deaths of despair or old age declines in health. But like I said, this is my presumption about the population with group life insurance from their company employers.

          2. Grebo

            “40% rise in non-COVID deaths in younger working-class employees” is what the insurance man said. We know Covid kills mostly old people. So what could it be? Opioids? Misadventures with hydroxy and bleach? Solar particles depressing the sea bed and altering the ocean currents?

            1. albrt

              We don’t know that Covid mostly kills old people, we only know that it mostly kills old people in the initial acute phase. Plus young people normally aren’t very likely to die, so a modest number of deaths is a big increase.

              But the important takeaway is we don’t know and this article does not increase our actual knowledge.

            2. Charlino

              Many young people were told to get a vaccine or lose their job. I have relatives in the medical field, and know many people who tested negative of covid, yet tested positive and got sick after getting vacs and boosters. 80 year old aunt who got a shingles vac got shingles after getting a covid vac.

  8. Rick Quickly

    The article is extremely unclear because it doesn’t really state it’s premise directly. It leads you to infer that a problem with the Pfizer and Moderna vaccine are causing deaths … but the evidence they are laying out is that Pfizer and Moderna are at sever risk of fraud because they overstated the effectiveness of their vaccines and the approval process was far from objective.

    1. Yves Smith Post author

      There are two sets of exposures.

      One is that if there was fraud in the presentation to the various governments on vaccine efficacy and safety, those liability waivers could be revoked. That would result in a tsunami of vaccine injury litigation.

      Second is securities fraud, that the drug makers hid/misrepresented the safety data after widespread vaccinations. They should have disclosed to investors and didn’t.

      1. Larry Carlson

        In particular, pretty much anything bad can be seen as securities fraud these days. To quote Matt Levine at Bloomberg:

        A company does something bad, or something bad happens to it. Its stock price goes down, because of the bad thing. Shareholders sue: Doing the bad thing and not immediately telling shareholders about it, the shareholders say, is securities fraud. Even if the company does immediately tell shareholders about the bad thing, which is not particularly common, the shareholders might sue, claiming that the company failed to disclose the conditions and vulnerabilities that allowed the bad thing to happen.

        And so contributing to global warming is securities fraud, and sexual harassment by executives is securities fraud, and customer data breaches are securities fraud, and mistreating killer whales is securities fraud, and whatever else you’ve got. Securities fraud is a universal regulatory regime; anything bad that is done by or happens to a public company is also securities fraud, and it is often easier to punish the bad thing as securities fraud than it is to regulate it directly.

        1. Yves Smith Post author

          I am sorry, that is ridiculous and Levine knows better. Levine regularly defends securities industry bad conduct with intelligence-insulting claims. We went after him regularly both on CDOs/CDS and later on chain of title abuses. It’s disappointing to see him sell out so regularly when he’s often a superb commentator on technical issues.

          Securities fraud requires showing intent (scienter) as in active deception, and tying that deception to investor harm.

  9. Queenslawyer

    The safety signals have been present from almost the beginning, which is why some of us chose to remain in the control group. For that we have become second class citizens, lost friends, had family members wish us dead… Jus look at the vaers numbers and the suppression of same. Look at the world class athletes dropping dead on the field in the dozens. Plenty of signals out there. Glad to see more people catching on. There needs to be prosecutions. It would also be nice for the medical field to start taking vaccine injuries seriously and start, oh, maybe trying to treat them? I won’t hold my breath. The medical profession has, at least for me, sacrificed itself at the alter of pharma profit. What little trust was there is now gone. Well done all!

    1. Hickory

      I really like your phrase, which I will borrow: I decided to stay in the control group!

      Man, the vitriol and condescension and who-do-you-think-you-are, the accusations of selfishness and ignorance and shortsightedness… very stressful. Being called anti-vax is the worst, esp since it’s not true. But I knew from the beginning not to trust those people. It’s like George Carlin said: “They don’t care about you. They don’t care about you! They don’t care about you! They don’t give a flying F– about you!”

      Weird how people who know not to trust regulators, who know not to trust the media or military or big oil or big banks will happily trust the pharma companies.

      Also weird how people who’re super my-body-my-right happily change positions when it comes to vaccination.

      I do feel a relief that evidence has been coming out the past few months supporting my mistrust.

    2. Larry

      I’m sorry, where are all these world class athletes dying left and right? I follow the NBA avidly, and they’re the league in America with the highest vaccination rate. How any of them have died during this pandemic? It’s zero, in case you aren’t aware.

      1. Robert Auld

        Most of the reports of athletes dying that I have seen have been of soccer players (football for europeans). And there have been some reports of basketball players dying or coming down with heart problems, but they have generally been high school or college players.

        1. Larry

          My home state of Massachusetts has seen no uptick of amateur athlete mortality. Being one of the most jighly vaccinated states with many amateur athletes at the secondary and post secondary level really throws cold water on your anecdotes.

  10. Tom Stone

    Chris’s point is extremely important.
    These vaccines were pushed HARD as the solution to Covid 19 and many people had the choice of taking them or losing their livelihood.
    Welcome to a low trust society whose structures depend on a high degree of trust to function…
    It is 10 months to the day since my second Moderna Jab and the first thing I noticed on awakening was how much my once fully healed elbows hurt.

    1. judy2shoes

      Tom Stone
      February 24, 2022 at 11:44 am

      “many people had the choice of taking them or losing their livelihood.”
      I would reiterate that people who chose not to be vaccinated (because of health reasons or logical concerns about the safety of the new vaccines), also have “become second class citizens, lost friends, had family members wish us dead…” as Queenslawyer commented above.

      Personally, I don’t know if I would still be unvaccinated now, but I ended up getting the Moderna vaccine because I had a friend dying with cancer and I knew his wife would never let me near him otherwise.

      In another thread, petal noted that she tried to get a medical waiver from her employer, which was denied, IIRC. She had to take the vaccine to keep her job, which caused a medical complaint to flare [gross understatement]. There are so many people like you,Tom, and petal, who had or are having side effects who have been ignored as if you don’t exist.

      1. truly

        Not just “had to take the vaccine to keep her job”, sometimes, have to take vaccine to keep insurance cost down.
        I have a friend who has decided to “stay in the control group”, unvaccinated. His employer is requiring that he pay an additional $200 per month or they will take his health insurance away. On principle he will not pay the 200. So now without insurance, but at great risk as a multiple myloma survivor. (For now).

    2. J.B.

      I found almost exactly the same article, published 3 days earlier, in The Desert Review ¨an award winning, locally owned, and independent online news source and weekly printed publication that covers the events, sports, and people of the Imperial Valley in southern California and the stories that matter to the community.¨
      And only there. Otherwise, the tanking of stocks of Moderna and Pfizer are explained by other sources as being caused by; overenthusiastic investing and a resulting over-valuation, the impending end of the pandemic, the abundance of vaccines coming out, and the possibility that the patents will get shared. I see no actual data, and the plural of anecdote, as pointed out by the author, is not data. I would love to see real evidence. Not all the scientists, the virologists, etc, are participating in some grand conspiracy to hide evidence. Anecdotally, everyone I know has been vaccinated, none has had anything more than a sore arm. I also have many friends who have had Omicron, and are doing well. No hospitalizations, no oxygen tanks, etc. I do hope the writer is absolutely without a doubt sure of their assertions, because anti-vax rhetoric is costing real, countable, data confirmed, deaths.

  11. Louis Fyne

    ironically if true, Warp Speed might keep Trump off the 2024 ballot when everything else thrown at him by the Beltway bounced off.

    Which further only increases the odds that DeSanctis or other generic Republican will crush the Dem. nominee

    1. Nikkikat

      But it was Biden that put mandates in place. It was Biden that claimed the vaccine would protect you from Covid.

      1. foghorn longhorn

        Technically there was no mandate.
        Biden said some shit, but nothing was passed by congress.
        Nevertheless, the play would seem to be to go after the businesses that did mandate and fire employees for not taking an EUA experimental drug.

        1. Objective Ace

          Tell that to federal workers.. or anyone who was on the end of a company’s mandate at the behest of Biden

            1. foghorn longhorn

              To clarify, congress never passed a bill mandating a shot.
              Biden said some words and enthusiastic employers gleefully jumped on board.

              Congress, the USPS, etc., were not mandated to take the shot.
              You join the military, you do as you are told, or else.

              A few thousand delayed flights and the airlines dropped that turd quick.

  12. Carla

    What a country. Wantonly killing possibly thousands of people while letting a million die due to outright negligence doesn’t matter. But de-frauding investors? OOOhhhh… you in trouble now!

    1. tegnost

      Thank you Carla.
      This thought occurred to me as well.
      They’ll make money on the way up, and on the way down as well.
      the irony, it burns…

    2. Jokerstein

      Patient consequences not quite so bad, but investor fraud is what got Elizabeth Holmes, not patient fraud.

  13. tindrum

    There are issues now in Germany with the medical insurance companies starting to see problems in the data. Here is an article in the serious newspaper “Die Welt” saying that the insurance group BKK is asking for a public enquiry into the alarming numbers of side effects that they are seeing in the millions of data points that they have available.


    Eine Analyse von Millionen Versichertendaten der Betriebskrankenkassen BKK kommt bei den Nebenwirkungen auf erheblich höhere Zahlen als das Paul-Ehrlich-Institut. Die neuen Daten seien ein „Alarmsignal“, sagt BKK-Vorstand Andreas Schöfbeck.

    1. worn out immunologist

      I can’t be arsed to do google translate, but let me guess. The adverse effect data all comes from a public accessed database. Does that give you any worries as to the validity of that data? Has anyone done a proper comparison of vacc versus nonvacc in age and lifestyle matched controls? Funny how when comparisons are done WITH PROPER CONTROLS the side effects are the same as the regular population. Well except for the ones where they make up the data.

      1. Queenslawyer

        You are making a very strong claim (vax side effects are equally present in unvaxxed population) that needs to be backed up by evidence. The German health insurer position is based on proprietary claims data.

      2. tindrum

        The data comes from the insured members of the BKK who are visiting doctors or hospitals ans using their insurance cards.This is not a public data set it is insurance company data.

        1. Tom67

          I am German and have read the letter. It is from the 22nd of February and from the head of one insurance company which is part of a larger group with 11 million members. The letter is adressed to the head of the PEI (German FDA) and calls for urgent investigation of shocking numbers of side effects. Here a translated quote from the letter:
          “The data available to our institution give us reason to believe that there is a very significant under-reporting of suspected cases of vaccine adverse events following Corona vaccination. I am enclosing an analysis of this in my letter. The data basis for our evaluation is physician billing data. Our sample is from the anonymized data set of the company health insurance funds. The sample comprises 10,937,716 insured persons. So far, we have the physicians’ billing data for the first half of 2021 and approximately half for the third quarter of 2021. Our query includes valid ICD codes for vaccine adverse events.
          This evaluation has shown, although we do not yet have the complete data for 2021, that we now already assume 216,695 treated cases of vaccination side effects after Corona vaccination from this sample, based on the available figures. If these figures are extrapolated to the whole year and to the population in Germany, probably 2.5-3 million people in Germany have received medical treatment for vaccination side effects after Corona vaccination. We regard this as a considerable alarm signal that must be taken into account in the further use of vaccines.”
          The mainstream press is trying to downplay the significance of the letter. But there is indirect corroborating evidence from official goverment data. For instance in the number of emergency hospitalisations for neurological and cardiovascular reasons which increased by more than 50% when they started the vaccinations. Correlation is not causation but by now there are so many indications that the other day I bet a 1000€ that in 3 years the heads of our goverment drug regulation agency will be in court and staring at a good few years in prison.

    2. flora

      Thanks. Per google translate:

      ‘An analysis of millions of insured persons’ data from the BKK company health insurance company comes to significantly higher figures for side effects than the Paul Ehrlich Institute. The new data is an “alarm signal,” says BKK board member Andreas Schöfbeck. ‘

      1. tindrum

        The “Dachverband” is a couple of people who do soem general marketing and PR for many state insurers like the BKK. They are not responsible for releasing such data. They state in the twitter feed that they did not release the data, but they have no comment on the validity of the information released. I.e. they want everyoe to know that they are good little PR people and woud very mucg luke to keep getting paid. This Tweet has no bearing on the Die Welt article whatsoever,

  14. flora

    per Yves: A lawyer buddy thinks that even if this take on the frequency of bad side effect is spot on, Pfizer and Moderna still might get off the hook on product liability in the US. However, shareholders would have them dead to rights on securities fraud, for not disclosing to investors the information they had about serious vaccine side effects and the impact that could have on willingness to get boosted.

    I thought the TBTF banks and financial houses who engaged in fraud and created the GFC would get their reckoning, but the US govt stepped in to make them whole (and then some), no one went to jail, and they carried on as before. The DoJ and the SEC fiddled (see Lanny Breuer), if I remember correctly. I’m not sure the same bailout wouldn’t happen again, this time with the big pharma companies, considering their … uh… “campaign contributions” and “regulatory agency gifts.” Too cynical? (Of course, that doesn’t mean customers would return.)

    1. Nikkikat

      They will bail them out. Too bad since it was their own greed that got them into this mess.
      After they bail them out it will austerity time again. Money for the greedy scum on Wall Street and not a thing for you and me. I wonder if they will invest in some generic Iv%*mect*n.

      1. JBird4049

        If the pharma and insurance companies are bailed out while everyone gets no help with the injuries from the vaccines, I am thinking massive protests, bigger than the last two summers.

        Also, what about all those people who will not be taking all the other effective vaccines like polio because of these greedheads? “Let’s kill some people to make some money”

      2. foghorn longhorn

        It seems they already bailed them out. The gov bought the vaccines to begin with.
        This is just a giant s show.
        The folks who were so sanctimonious about these, …. …

        1. Mr. House

          The CARES ACT wasn’t a massive bailout? Bigger then 2008? Its funny what people forget when the media whips them in a rage of fear for their lives from something they can’t prove.

  15. LawnDart

    Both stocks are way, way off their peak… …good. Maybe the hay-day of pandemic profiteering is past, and we move into the next phase: squeezing nickles from the unfortunates suffering from long-covid, surely to be a growth-industry (no pun intended/or reference to t-cell stuff).

    With 1M dead, we’ve gone from fleecing the flock to outright slaughter.

  16. Nikkikat

    Well now, isn’t it rich that all the censoring and smear attacks undertaken by our phones media and all the rich musicians and Hollywood liberals has come back to bite them? My family took J&j I had a bad feeling all along about MRna vaccines. As time went on I realized that something bad was going on with the two drug companies. We were 6 months out on our vaccinations when with all the booster talk that we decided no more vaccines.
    We will continue to stay in and wear masks and only go out for food or banking. I have relatives that got covid and their employers made them get the Pfizer shots because that claimed that J&j didn’t work as well. They have had heart and blood pressure problems which they did not have before. Their doctor told them it was long covid. I read the Kennedy book and decided no more flu shots either, I’m wearing a mask anyway. I listened to both Dr Malone and Dr McCullough on Joe Rogan and Jimmy Dore. Maybe Fauci is planning his retirement and he takes Walensky with him. Maybe people will finally wake up to the fact that our Government does not care about us and stop letting them mandate that we give up our personal choice. I have been outraged over the mandates since it started.

    1. JoeC100

      My doctor told me on day one to stay away from the mRNA vaccines. I did J&J primarily as I have a camp in Nova Scotia and assumed I would need proof of vaccination to cross the border next summer. And J&J was initially hard to find..

  17. TBellT

    They raised (mortality) expectations 300,000 for 2022 over 2021 due to COVID plus ‘indirect COVID,’ which I think we know what that’s code for…

    Long Covid could easily explain this. We just had the VA study with heart effects even in non hospitalized cases. Nice way for them to scare monger though.

      1. TBellT

        This is an excess mortality study. An excess mortality study is also going to capture deaths from long covid complications going forward in addition to the stuff you mention, so yes there was “indirect” before vaccine and they’re will continue to be “indirect”.

        The podcast transcript is implying indirect is due to vaccine injury and I don’t buy it. All data I’ve seen is consistent with primarily from direct covid and indirect fallout from pandemic. If vaccine induced deaths were at the rate some ppl are claiming the 2021 over 2020 % increase in excess mortality would be much higher than the comparable calculation from “official covid death” and case numbers.

        Of course there may come time when we are so far out from baseline that the meaning of the calculation may become blurred but should be reliable for next few yrs.

    1. CoryP

      Yeah I’m really not seeing anything here to justify the breathlessness of these posts. I went through the original article ta The Desert Review and it all just seems like a bunch of assertions, though I didn’t listen to the podcast that seems like the original source.

      Is there an actual source for even the assertion that all cause mortality was higher in the vaccine arm? I’m open to the idea of nefarious goings on, but this isn’t doing it for me.

  18. Jason Boxman

    As fantastical as this all seems, we know from Vioxx that this kind of information is certainly very enlightening and difficult to ignore, given how voluminous it is. This much death showing up at the population level across so many actors, in different sectors, is difficult to ignore.

    If this proves out, that’s the end of any legitimacy for the FDA. For vaccination. For mandates. For elite rule. For a whole host of things. And it “proves” anti-vaxxers that reject vaccination on principal as being correct, which is extremely damaging to public health, almost incalculably damaging.

    Stay safe out there!

  19. Petter

    Personal note – There’s no way I can prove it and am getting not even a hint of support from all the health personnel I’ve talked to but I’ve suspected that the reason my health went south this summer was due to the vaccines. I had my second dose on May 13th and in the first week of June had a series of other level dyspnea attacks as well as a escalating series of arrhythmias, culminating in a hospitalization on New Years Day, when my heart rate was 190 for over an hour.
    I posted back in December that I’d been infected with Covid while on the pulmonary unit in late November. It was while I was on the unit that the CT scans suggested a pulmonary thrombosis and when a pulmonologist informed me and assumed I was on blood thinners. I told him this was the first I’d heard of it.
    In my December post I wrote that I was fully recovered from Covid. Wishful thinking on my part, probably because I was so happy to have survived. I still have no sense of smell to mention just one lingering symptom.Actually I don’t know what what symptoms are caused by what anymore seeing as I now have four diagnoses from just one last summer: COPD, pulmonary hypertension, supraventrical tachycardia (loop type) and esophageal reflux.
    To cop the title of Richard Farina’s book – been down so long it looks like up to me.

      1. Petter

        The timing -second dose and about three weeks later the severe dyspnea which is a symptom of thrombosis and then the arrhythmia.

        1. Karen

          The cure may or may not be worse than the disease but, due to the toxicity of the common spike protein, it looks a lot like the disease.

          From Robert Kadlec:
          Biodefense Programs Director, DHS (1998):

          “Using biological weapons under the cover of an endemic or natural disease occurrence provides an attacker with the potential for plausible denial. Biological warfare’s potential to create significant economic loss and subsequent political instability, coupled with plausible denial, exceeds the possibilities of any other known weapon.”

          1998 Pentagon Strategy Paper, “21st Century Germ Warfare, in Barry Schneider, Lawrence Grinter: “Battlefield of the Future – 21st Century Warfare Issues.” Studies in National Security No. 3, Air War College, September 1995, Revised September 1998. S 228, 248

  20. urblintz

    Good to see Raúl back. Those of us who’ve worked hard to undermine confidence in these bs mrna vaccines, rebuffed through unverifiable statistics designed to support the bs “miracle” narrative, could have used some help.

  21. Canadadanac

    This looks like vindication for those in the Canadian truck convoy protest whose self-stated, number one goal was the removal of vaccine mandates.

    1. Code Name D

      Hay, its a good thing this new broke before Canada stole the truckers money and had them arrested. Oh wait!

  22. Anna

    Recall this observational study in AHA journal from Nov 2021 by cardiologist, Dr. Steven Gundry, regarding labs from his patients after vaccine: https://www.ahajournals.org/doi/10.1161/circ.144.suppl_1.10712. ” The PULS score has been measured every 3-6 months in our patient population for 8 years. Recently, with the advent of the mRNA COVID 19 vaccines (vac) by Moderna and Pfizer, we tracked the changes of the PULS score and three of the inflammatory markers it measures in all of our patients consecutively receiving these vaccines…… These changes resulted in an increase of the pre vac PULS score of predicted 11% 5 yr ACS risk to a post vac PULS score of a predicted 25% 5 yr ACS risk”.

  23. FredsGotSlacks

    I feel so confused now and don’t know what to believe. I got my three shots of Pfizer based on what I understood to be a) a great safety record so far across millions of doses and b) the notion that even if side effects occurred, it wouldn’t be as bad as the potential nasty illness and death that could result from COVID. My immune system is awful and I had gotten deathly ill from swine flu back in 2009 or whenever that was. I’m not in any way antivaxx but I was suspicious of something like these vaccines which were rolled out so quickly. However, my cost-benefit analysis and my desire to remain healthy for my kids pushed me to get the shots. To note, I’ve had no noticeable side effects so far. For better or worse (some existing chronic issues) my health remains the same.

    But now, this is the first serious indication I’ve seen from my favorite source of news (NC) that maybe all the “loony” anti-vaxxers are right (not meant to demean anyone here or elsewhere with legitimate questions, issues, etc.). Like, the people ranting about Bill Gates, new world order, giant genetic experiment who sounded so unhinged…were they right all along? While I didn’t lose any friends or family over this, it certainly caused a strain in some areas. I’m a huge fan in getting things right and not denying truth just because I’ve had to admit I was wrong or was duped or what-have-you. But, this is the first time I’m seeing anything from what I consider to be the best source of info out there (cheers to NC again) that would indicate the vaccines are actually not just ineffective, but harmful.

    I’m a leftist (really an old-school new deal dem via inheriting that world view from my grandparents) and generally despise both the institutional parties at this point. And, I’ve grown pretty cynical as I’ve started to enter middle age. But man, I still had a tiny shred of trust left in some aspects of our institutions in this country (hard to believe I know). IF this turns out to be true re: the vaccines, that they (particularly public health agencies) were hiding this much adverse side effects, etc., that will probably kill the last shred of optimism I have for anything good to happen.

    I saw some comment above re: “world class athletes dropping dead on the field in the dozens”. That’s definitely the first I’ve heard of that. Does anyone have any sources for that information? I’d be very interested in hearing about those cases.

    But anyway, this feels like the biggest “bombshell” I’ve encountered on NC in terms of changing what I perceived as a generally positive outlook (at worst less effective than advertised) on vaccines to one of total rejection of the generally accepted narrative. I very, very much hope to see follow-up on this here on NC because this really freaked me out.

    Anyway, keep up the good work Yves, Lambert, Jerry-Lynn. This remains my only source of sanity in the news world and gives me a break from Twitter doom scrolling.

    1. tegnost

      re: “world class athletes dropping dead on the field in the dozens”.

      That kind of claim definitely deserves a citation

        1. Cojo

          RE: https://en.wikipedia.org/wiki/List_of_association_footballers_who_died_while_playing

          Looking at the wikipedia numbers the prior 6 years (2014-2019) there were on average 10 deaths per year. 2020 only listed 3 deaths, likely due to reduced matches due to the lockdowns. Many of these players were in lower league divisions which may not have picked up activity after the initial shutdowns. 2021 listed 21 deaths, three of which were over the age of 40 which also is high compared to the prior years. One can argue that by averaging out 2020 and 2021 numbers, you’re still around the mean for the last 7 years. Perhaps 2021 was a “catch up” year, for those who would have died in 2020 of cardiac arrest had they played a full season. This makes biologic sense in some genetic causes of sudden death such as hypertrophic cardiomyopathy or arrhythmogenic right ventricular dysplasia. The phenotypic changes may start manifesting as the body and heart age.

    2. Arizona Slim

      Me? I am standing here in Tucson, Arizona, and I am blowing kisses at my computer screen.

      Thank you, thank you, THANK YOU to the Naked Capitalism crew for publishing this story.

    3. IM Doc

      This is what I would say to you.

      In medicine, when we do any intervention, we have to assess risks and benefits. I spend a large amount of my time daily going over all of this with my patients on all kinds of medications and procedures.

      The same thing should be done with any vaccine. I am not now nor have I ever been an “anti-vaxxer.” I have never been one taken to conspiracy theories. I have literally given out 30K or more vaccinations in my career. I do, however, do everything by the numbers and strive to do the very best for my patients.

      And here is where I got to where I am right now. I knew from the very first days with this vaccination program that critical things were not being shared with the American people in a way that a) was accurate and b) was based on science. The two big problems among many others was 1) the constant use of “herd immunity” as a reason for vaccination for COVID. Coronaviruses are respiratory viruses – like the flu and rhinoviruses. Because of their makeup, herd immunity is simply not possible. This has been known and settled science for decades. They will absolutely attenuate over time in a pandemic and from babyhood to adulthood – but there is no such thing as herd immunity. We will catch and be sick from each of these multiple times in our lives no matter our immune status – vaccinated or natural immunity. This was absolutely not told to the American or world people in this way. I wish I could find the Rachel Maddow clip and the Dr. Walensky clip telling Americans that these were going to stop transmission in its tracks. This was never in the cards. Ever. More apropos to the conversation here was a tweet done on Apr 1 2021 by Bourla the CEO of Pfizer – stating the vaccine was 100% effective. That simply could never have been true ( I at the same time was going to one lecture after the other stating that it could not be true) If we want to think about fraud – that tweet may be exhibit #1 – what did he know and when did he know it – as they say. #2 – The initial vaccine papers used a statistical construct called a relative risk reduction which completely misled the American people in the efficacy of these vaccines. NO ONE – and I MEAN NO ONE – in the media ever bothered to explain this in terms normal people could understand. I tried my best to explain this on this site on numerous occasions.

      And so what happened when the efficacy issues detonated in July at the Provincetown event was 100% predictable. I had been screaming it from the rooftops for weeks. And now we have all kinds of experts who were cheering these deceptions on for months now stating that “everyone knew” this was going to happen. No one ever promised that kind of efficacy, etc. THE DECEPTION WAS GOING ON FOR 6 MONTHS FROM THE TOP DOWN.

      Now as it happens – we were so very lucky – the vaccines did nothing to stop transmission – but at least initially they did seem to keep people out of the hospital at first. I cannot even say that now – it seems at best they keep people out of the ICU. BUT THAT WAS NEVER A CLINICAL ENDPOINT IN ANY OF THE INITIAL STUDIES. That is by happenstance what has become clear after they were out. And it is not clear how long this will continue. But again, we have no idea exactly what this hospitalization effect is – our agencies are now admitting that they are withholding data ABOUT THIS VERY TOPIC.

      So for efficacy – it is clear from a public health standpoint – these vaccines do nothing. They should never be the foundation of vaccine mandates or passports. That is simply scientifically ridiculous at this point. And these mandates are dividing the country and cratering our rural health care systems. There is nothing in medical science to back their use up at this point.
      HOWEVER, individually – for some patients the risk benefit ratio of the vaccines absolutely makes 100% sense. I HAVE LITERALLY BEEN ON MY KNEES BEGGING HIGH RISK PEOPLE TO GET VACCINATED. MULTIPLE TIMES.

      As far as the safety issues, it is literally a big unknown. I have had 1 vaccine related death in my practice. I am now up to 15 issues that are severe enough to warrant ER visits or hospital stays and multiple dozens of others with office visits. Many of have recovered fully – many have not. These problems remain very rare – I have about 2800 patients in my practice – so you can do the math about prevalance – but is actually very troubling for vaccines. And many of these have happened in younger people – patients with their whole lives in front of them. For perspective – in my entire career of 30 years – I have had less than 5 very mild issues with all the other vaccines combined. And no – this is NOT just OK. This is very troubling. It has tormented me for months. And it is not just me – it is happening to my colleagues everywhere. At least those willing to face the obvious.

      And it makes me all the sicker to know the constant cry of 100% effective and 100% safe from our media and officials. I get very angry. It is MY JOB to discuss the risk benefit ratio with my patients – but we have been completely hampered in complete information in this by stonewalling and blank FOIA forms.

      The thing that seems to be a complete fail is that I have 30 years of experience going through things like this with patients. I know how to address fear and panic. And I and all of my primary care colleagues have been completely sidelined by dissembling and claptrap. How much better would it have been to arm us all with complete and transparent and correct information – and let us all do what we have been trained to do and have been doing for years. That was the approach not taken. Instead, we have all kinds of rumors and this or that family or friend falling ill after vaccination – and scaring people to death – and then a President on national TV with a rictus grin badgering people – your arm or your job. Our patience is running thin. What a complete abdication of the principles of medicine and public health.

      As an IRB member for years – I know for a fact that once any study is showing the all-cause-mortality is elevated in the treatment group above the placebo group – instant cessation should be done. This has been the case EVERY SINGLE TIME in my tenure on IRBs. Unfortunately, we now know this was the case in the original Pfizer trial – MORE PATIENTS DIED IN THE TREATMENT ARM THAN THE PLACEBO ARM. That was released months after it should have been – and is very ethically concerning. There is no excuse for this. And that is why I find this whole thing so troubling. And am very concerned now about all these life insurance reports. This is so confounding too – could these people be dying from LONG COVID? VACCINE ISSUES? SOMETHING ELSE? – It is going to take a long time to tease this all out. But the fact that we have companies, media, and agencies who to this day are still not being transparent is alarming in my opinion.

      1. ChristopherJ

        Thank you Doc, very generous of you to risk your rep and career to keep us informed of what is happening on the ground. 60 yo rare unvaxxed person here and still haven’t caught a cold yet alone covid, although that might be from being privileged to live in far north Queensland and being denied entry to pubs and restaurants because I am unvaxxed and, hence, a disease vector that all should avoid…

        The above story if true will bring the issues out into the open, it has to as the insurers will not cop the fall from excess deaths and disabilities from unsafe vaccines. If as many suspect the vaccine trials were not done properly and there were problems for people which were hidden in the results, people will find out. Many here are hoping for a reckoning, but they will probably be bailed out, too big and important to fail and all that.

        Thanks for being an honest broker here, many appreciate it.

    4. Yves Smith Post author

      The problems seem to be:

      1. For nearly all people, the vaccines are OK (see IM Doc, 16 really bad outcomes out of 2800 patients). But the % of people for whom they cause trouble looks to be way too high. This a not a good level for a shot to be administered across the board, as opposed to people who have an ailment and the risk of the treatment can be assessed v. the consequences of not being treated.

      2. If the drug cos and government had been honest about 1, they could have collected better data on who was more likely to get in trouble. And one has to wonder if simple fixes, like making sure an individual has low/no antibodies (no recent Covid infection) and adjusting the dose by bodyweight would have reduced the bad outcomes.

      1. Skippy

        The real dramas are unknown and will unfold in the future not unlike various infections of the past, which manifest in latter years, infection rates dictate broader social outcomes. The McCrazzypants part is its made even more complex due to the experimental approach to dose a population with non scientific IRB administrated drug for the pleasure of some investors and a non government totalitarian approach which might make markets sad.

        Gosh its like when I got Streptococcal pharyngitis in Basic Training and almost delusional with fever, got out of line for sick call, saw med, got a swab and a bag of numbing meds, returned to usual duty, PT and the lot, what a wack week and won the lotto for not getting Rheumatic fever …. I’m sure some econometrics cover this sorta thing for the betterment of Humanity … is everything the “The life of Riley’?” ….

  24. jimmy cc

    Moderna lost a patent lawsuit in December and their stock price dropped then.

    Pfizer released projections for 2022 which were below investors estimates, and the price dropped.

    If a threat of an insurance lawsuit was the reason for the price drop, I would expect the drop to be concurrent. Who knows.

  25. Bart Hansen

    Question: The fraud is that, following the trials that saw some deaths, the companies did not then add the common drug disclaimers about side effects, one of which being death?

    1. anon y'mouse

      -some- theorize that the entire point of the eua/mandates etc was to get the mRNA placed on the childhood vaccination schedule and thus subject to no company-held liability (the gov’t administers a liability fund paid for by a tax the customers pay).

      who’s going to mass vaccinate their kid if they know that one of the potential side effects is death?

      and yes, i know that the vaccines that are already on that schedule probably also carry such warnings (almost every medical intervention carries the possible side effect of death for someone) but most people have been thoroughly desensitized to such things because in the past, such side effects have genuinely been rare.

  26. Anthony G Stegman

    We can talk fraud all we like, but in my humble opinion Pfizer (and perhaps Moderna) will be seen as too big to fail, too systemically important to be plunged into bankruptcy. The feds will intervene on any fraud cases filed, and they will be dismissed by the courts. Don’t forget the world we presently live in. The big guys are NEVER held accountable. EVERYTHING is rigged in their favor.

  27. OliverN

    I’ll have to mull over this for a while, but share price change + Moderna CEO sell off do hint that something really is happening.

    My only amusement for now is hidden somewhere in the tone of the article: the reason that this is serious is that life insurance companies are coming after them.

    Complaints by the people: ignore or marginalise them; nothing happens
    Complaints by the government (not that I’ve really seen any, but…): wait a while; nothing happens
    Complaints by life insurance companies: Moderna+Pfizer at risk of bankruptcy……..

    In a similar vein to Cuomo being undone by SA allegations instead of gross negligence and deaths in nursing homes, I have no problem with the end result (Pfizer and Moderna need to tell us the truth so we can make informed decisions, not “noble lies”) but I am unsure if I’m satisfied with the method of getting to that end result.

  28. Maritimer

    The starting point for me from Day One as to the injections has always been the fact that Pfizer, AZ and JJ are convicted, proven criminal organizations. Their rapsheets are readily available online. In all the injection propaganda, I have never seen any article, reason why I should participate in an experiment run by a criminal organization. Never any explanation from Phauci and company. And having also examined Informed Consent forms, the fact that these companies are convicted criminals is never mentioned. A very telling omission, I guess a Noble Omission from the Pharma Nobles.

  29. mtnwoman

    I would love to see Pfizer (and FDA, and Moderna, and CDC) face real comeuppance.

    Yes, Pfizer is a Pharma company. They are also well known criminals with >70 fines totalling $4.6 billion over 20 years for everthing from bribery, harm, lying.

    Is Pfizer/FDA still trying to hide their vax trial data for 75 years? Yeah, nothing suspicicous there!

  30. The Rev Kev

    Wow. Just wow. Is this going to be the runaway story for 2022? I mean, 300,00 deaths alone and god knows how many injures? And the Feds signed off on the whole thing and brutally suppressed any push-backs with their mandates? If this becomes general knowledge, how will this play out with all those people that punished friends, family and colleagues to force them to take the shots? It may be a total mindf*** as they realize that they were betrayed. I have been trying to think of a similar story that though small at first, had massive consequences in the long run and the one that comes to mind was a minor burglary way back in 1972 of the DNC headquarters.

    1. Arizona Slim

      True story: One of my friends was driving across the USA with one of her daughters. During a June 1972 weekend, they were passing through the great state of Kansas.

      They were reading the Sunday paper, oh, in a restaurant near an Interstate highway and what’s this? A story about a break-in at the Watergate?

      My friend was a newspaper reporter in southern Illinois, and she knew what was up. So did the daughter.

      Their reaction to that story in the Sunday paper? Nonstop laughter, which the other restaurant patrons found to be quite perplexing.

      1. The Rev Kev

        When I was a teenager, I use to read the Sunday papers and one featured those only-in-America stories. One Sunday I read about a bunch of murders in L.A. and I wondered at the time where that story would go. Yeah, that was the first note of the Manson family. Some stories start off small and then go big. Come to think of it, these Sunday papers once reported that the Chinese communists were having their army all march in the one direction at the same time to screw with the spin of the Earth and cause weather disruption in America. No, that story I did not believe. But I am surprised that that hoary old story has not been refloated again. :)

  31. EarlyGray

    They found that since OneAmerica shocked the world by announcing a 40% rise in non-COVID deaths in younger working-class employees, multiple other insurance companies worldwide have seen the same thing – massive rises in non-COVID deaths. And the evidence inescapably points to the vaccines as the cause.

    I’m sceptical about this. As a counterpoint, here in Japan there is a high vaccination rate (at least up to second dose), exclusively using mRNA vacccines, compared to the US. However there hasn’t been the excess deaths that many Western nations have.
    If the vaccines (rather than undetected Covid) was the cause for this rise in deaths then shouldn’t that show up in the Japanese data also?

    1. TBellT

      Yea theyre mangling the oneAmerica thing, the 40% is against prepandemic levels not 2021 over 2020.


      “Just to give you an idea of how bad that is, a three sigma or 200-year catastrophe would be a 10 percent increase over pre-pandemic levels,” Davison said. “So, 40 percent is just unheard of.”

      He said the data shows COVID deaths are greatly understated among working age Americans.

    2. awildsheep

      I watched that press conference where OneAmerica CEO Scott Davison talked about that 40% rise. What he actually said has been twisted wildly out of context to the point of inaccuracy. He stated there was a 40% rise in deaths among working people aged 18-64 — not “younger working-class employees.”

      More importantly, this 40% rise included deaths for ALL causes, COVID and non-COVID.

      Davidson did say that the reported COVID deaths for people 18-64 “greatly understate” the actual number of people who’ve died during the pandemic. He didn’t specify how great this understatement was, nor did he say what the other causes of death were. But he later clarified to the AP:

      “CDC data indicates that 65% of 3Q excess deaths can be directly attributed to COVID,” Davison said. “Our own claims data is consistent with that as well. Based on the data and our analysis, we believe that a significant portion of the remaining excess deaths are driven by deferred medical care and individuals who recover from COVID but later die from the toll COVID has taken on their bodies.”

      In other words, OneAmerica pegs 2/3s of excess deaths among that 18-64 demographic as COVID — properly recorded on a death certificate or not — while most of the rest are thought to be the indirect result of COVID. We can speculate about what caused the remaining small percentage of excess deaths. But the “40% rise in non-COVID deaths in younger working-class employees” is just not true.

      Anyone can watch the presser for themselves here: https://youtu.be/5AOHrZHG5L0

      1. CanCyn

        “and individuals who recover from COVID but later die from the toll COVID has taken on their bodies.” This is still death from COVID IMO. Egads, it will take years to sort this out. It is in the interest of too many people and companies to cover everything up. I am cynical enough to believe that, as with the GFC, there will be no consequences for any of those responsible

    3. Still Above Water

      The best explanation I’ve seen for this is that it depends on several variables, especially which shot and the time between shots, and these vary between countries. There may be other factors as well, such as serum vitamin D levels. Raw fish is one of the best dietary sources of D.

  32. PrairieRose

    My goodness. So what are we to do then? If the mRNA vaccines are useless, then is there no way at all to protect ourselves? As a simple gal from the Midwest, my head is spinning. I guess the answer is if there’s nothing that can be done, I will have to accept that, sooner or later, I’ll contract and die of COVID. Sigh.

    1. Nancy Kramer

      Just wear an N95 mask when out and about and get the Novavax vaccine when it is approved in the USA. It is protein based like traditional vaccines, and is supposed to be better at protecting one from new variants. It is approved and shipping to Germany and France. The USA as usual is late on everything for the pandemic, testing masks etc.
      And for you financial types I am not long Novavax stock nor do I plan to be.

    2. Michael McK, psychic MD?

      Nonsense, and bad juju- I mean, don’t court the nocebo effect. You may be likely to contract Covid but are very unlikely, even in the worst scenarios, to die from it. Also new (old style tech) vax options are around elsewhere in the world, hopefully the Baylor Texas Children’s one will prove safe and effective enough for the FDA (I think it is already approved elsewhere).
      If you have severe co-morbidities or are just very cautious and fearful of potential as yet unknown long term consequences of even mild Covid such as naive T-cell depletion (as I am) then by all means check out the FLCCC website for their prevention protocol, get exercise (but not too much), eat well and most importantly don’t let your brain disarm your immune system by accepting death from a disease that spares most people and you don’t even have.
      Since you seem never to have had it so far and were fine (I am guessing) when assaulted by the spike protein in the vax, I predict you are naturally immune and will never get it and super tough to boot, sure to live out a super healthy and happy life! Nevertheless, do take all precautions you feel could be useful if only as an example to the rest of us :).

      1. CanCyn

        You leave out the idea of our connectedness and trying to ensure that you don’t inadvertently (asymptomatic case) pass on the virus to someone more vulnerable than yourself.

  33. Oh

    It’s the battle between two powerful interests, the Insurance companies and the Pharmaceutical companies with the FDA in the middle. The winner will be the one that provides the most political contributions. The losers are the people.

    1. Rume

      Is this just about the financial health of the life insurance industry? They might be in distress due to unplanned excess payments due to Covid. They may well planning to sue the pharmaceutical companies since there might be money to get.

  34. dao

    I never got the shot. Initially it was because of my health issues as I feared an adverse reaction from the shot. By last summer, I made up my mind I was not going to get it because I realized I did not trust Big Pharma one iota.

    Last Fall was a rollercoaster of waiting to see if I would be “forced” to take it by my employer and then have to make a decision whether to retire early. I did not want to have to make that choice. The Supreme Court came to my rescue (as well as the recuse of millions of others).

    I will not forget those who tried to threaten my livelihood to get me to take a shot that I did not want.

  35. David Anthony

    It’s the same FDA that allowed the Oxy crisis to happen. Should have torn in down and started from scratch after that. This is just more of the same corruption.

  36. Michael McK

    Wow! Thank you!
    As to the issue of lies in regulatory filings, in California, things are murky. Maxxam Corp., a front for Charles Hurwitz (whose condo was under G. H. W. Bush’s), made misrepresentations in it’s declarations to the State of California in the process of creating and getting approved a Habitat Conservation Plan. When do gooders finally sued Maxxam prevailed in the California Supreme Court on a free speech defense. The Court agreed that it was the duty of the California State Department of Forestry to validate the submissions on their own and Maxxam could say what ever they wanted. I know it sounds crazy but… Hopefully Barefoot Charley can pipe up and refresh my memory as to the nuance and perhaps even remember a case name for me.

  37. p fitzsimon

    Is this post for real? Pfizer is up 2.49% this morning and the stock has done just as well even better than the S&P500. Posting this message based on anecdotal evidence is evil.

  38. TRUTH

    So they now launched the next distraction as their covid BS plandemic is taking wate from all parts: the ‘war in ukraine’.

    And suddenly since Russia entered Ukraine, shares of mass murderers pfizer are going up again!

    Thanks Vladimir from demented pedo joe biden and from klaus schwab…

    Wait to see if it works

  39. arte

    I would just like to point out that according to Our World in Data, there is no excess mortality spike in New Zealand, a country that does have a highly vaccinated population, a country where the main vaccine is – as far as I can figure – Pfizer – and, of course, a country that is just about the closest thing to COVID-free as well as (internally) lockdown-free over the duration of the pandemic… though this is now slowly, or not so slowly, changing.

  40. niels

    What ideal timing for western hegemony to incessantly provoke an inflated crisis between the Ukraine and Russia. Simply another isolated crisis to blame for the crumbling of global capital and its ideological foundations. I think it’s obvious to NC readers that the US wanted so badly for combat between those two states and this just provides another set of rationale for that desire.

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