I assume Tom Luongo will continue the victory laps he’s been running—deservedly—for the last few days: Additional translation: Banking and money isn’t just about domestic policy in this environment. It’s very much tied in to geopolitics That’s it for now, as far as banking goes. No doubt there’s lots more to come.
I found Danielle DiMartino-Booth’s brief interview with David Lin (formerly of Kitco News) this afternoon to be especially lucid… or maybe I’m just finally getting what she’s been saying through my thick skull:
During the interview she references a monster essay she just posted for free on substack titled, “Too Small to Not Fail: A Short History of the World,” in which she goes into great detail explaining her interpretation of what JayPow is up to:
Good article - the office commercial real estate market is in trouble, especially in blue cities. Plus the loans are short term, 7 years and under, and can be variable.
Multi family has good vacancy rates, recent rent increases, but those that bought recently betting on continual higher rent increases to service their loans may be in for a nasty surprise.
Thanks, BA! Very clear messages from her in the video (as you note). I appreciate hearing her succinctly state her view of what Powell may be doing and why that would be a good thing, beginning around 13:30. Totally in accord with Luongo's views.
The essay is excellent reading but scary. We all could be in for a very rough and unpredictable ride over the next couple of years. I had thought the small community banks might have some immunity to SVB issues like interest rate risk, bank runs, and credit risk in a tightening liquidity environment. But alas quite the contrary according to the essay. It appears the Fed is going to be very busy dealing with the effects of its well-intended desire to take back control of U.S. monetary policy and reintroduce proper risk assessment to the markets.
This is waay off topic, but I saw that someone over at American Greatness just tweeted that the FBI has had an informant on the legal defense team of one of the Jan 6 defendants!!! How in the hell does that happen? Just when I thought that I couldn’t possibly have a lower opinion of Chris Wray, this news pops up. Brings a whole new dimension to the word despicable.
I keep holding my breath and thinking, “ok, we’ve hit bottom, so the only direction left is up.” WRONG. The Neanderthals in DC apparently possess an infinite capacity for depraved and treacherous conduct.
I try to remain optimistic, but it is rapidly slipping from my grasp.
How are we any different from the old Soviet Union? This is just incredible and Christopher Wray is worse than useless. I can’t believe this is the United States.
Our prestige and respect among nations is pretty much gone, laying in tatters at the feet of Joe “laughing boy Biden and his sorry incompetent lot of handlers and manipulators.
Our once proud country is now almost universally reviled and despised, but the elites still possess the unbridled temerity to look down their noses while lecturing the rest of the world.
Who was it that said, “America’s chickens have come home to roost”?
In his 1998 book, Brzezinski said US could have greater hegemony if not for the obstacle that most Americans dislike war and the economic sacrifice (defense spending) it requires. He wrote: “America is too democratic at home to be autocratic abroad. This limits the use of America’s power, especially its capacity for military intimidation. Never before has a populist democracy attained international supremacy. But the pursuit of power is not a goal that commands popular passion, except in conditions of a sudden threat or challenge to the public’s sense of domestic well-being. The economic self-denial (that is, defense spending) and the human sacrifices (casualties even among professional soldiers) required in the effort are uncongenial to democratic instincts. Democracy is inimical to imperial mobilization.” [The Grand Chessboard, Basic Books, pp. 35-36]….
Brzezinski was a virulent opponent of…any challenge to the existing capitalist order from the left. In 1968, during the mass protests against the Vietnam War, he wrote in the New Republic that students should be prevented from protesting by locking them up, adding that if the protests’ “leadership cannot be physically liquidated, it can at least be expelled from the country.""...May 29, 2017, “Zbigniew Brzezinski, architect of the catastrophe in Afghanistan, dead at 89,” Bill Van Auken, wsws.org
Ok, so we can determine with high confidence two things from these Yellen comments. First, she does not have a smartphone. Second, she does not realize deposits are up 4x since the FDIC last increased insurance to $250k Oct. 3rd, 2008.
Good geo politics. Add in Jeff Nyquist on China/Russia. Fake dissolution of Soviet Union, false Soviet/Sino split, leaked General Chi docs about biological warfare against US, etc. They are masters of deception and patience. For whole picture start here - https://jrnyquist.blog/2023/03/11/the-triumph-of-misdirection/
What stupidity! Total global hegemony. I'm sure the average American goes to bed dreaming of this. If only we could take over the most important region in the world: the Heartland! Nice to know "the USSR had foiled Israeli zionist expansion for a long time." Like when little Israel ceded the West Bank and Gaza to the Palestinians and became even more tiny. If these theories are what is driving our 'elite,' I suggest they spend some energy on propping up their support among normal American citizens before they attempt to project their power globally.
The Russians are firmly in control of the World Island, and have invited China, India and Iran to visit. The Russians, Chinese and Saudis are sorting out a lot of the current geopolitical issues and the first the neocons know about it is when they read the morning papers. The neocon foreign policy - if it can be dignified with that name - is in total collapse.
Good riddance to Neocon "foreign policy". They act like they are fighting (with others' lives) for the benefit of the US and "democracy". They're not. They're fighting for the globalists who profit from this BS while the average US citizen is left picking up the tab.
G'SPRING-day, S'21, (we of the more northern-climes are glad for the warming Springtime is bringin'! Since you folk of the SW tended to remain cozy-warm these past months...)
Your comment rings true; I'll only marginally disagree with the Neocon's policies being in Total collapse. Failing spectacularly but with the resources of the US, they just alter 'policy' to accommodate their failures and keep movin' on. Not even millions of lost lives for their 'policies' seem to matter; the US Military Industrial Complex has that (once formidable) US Manufacturing capacity at it the Neocon's rear, so to speak. Question is whether their ultimate dismantlement will be done as that requires the American citizens' arising against it. Sadly, those alleged 81 million Biden/Harris voters indicate an inability to do what's right. Always sir, my best wishes! (WrH)
Hey WrH, I deeply (and sadly) suspect that those supposed 81M Biden votes are inflated by a factor of at least two. He couldn't get more than two dozen non-media or body guard types to his so-called rallies. No way he got more than half of what they credited him with. The rest were manufactured until they had enough. And even that took days after the election was "over.".
I have grave misgivings about the 2020 'Covid Election'. Mail in ballots at Federal request/requirement is, as I understand it, unconstitutional. Not being a lawyer of any sort but trying to be a law-abiding citizen, I can read and see that such elections are the responsibility of States' legislatures and laws. There's no 'due to Pandemic Emergency' clause to be found anywhere in our Constitution.
That said, I was blessed to be able to volunteer and serve for a State (local) election here in Idaho a week or so ago. The requirements for proof to register and/or vote here are easy - but vilified by Democrats nationally. Picture ID to prove it's you, as registered, to vote and 2 picture ID's Plus evidence of residency of >30 days to register. These are required even if registered/registering individual is known to we workers - required. (Knowing folks coming in is really common in my small SW Idaho town). The system in place takes no one for granted; example - I worked with getting a ballot for a Local Police officer, well known and respected, who's home is new and it's address not listed yet on state voting records (new development): this required an additional affidavit being filed so he could vote. And you know what? Not him nor a single other voter that day minded these requirements a bit. And every one (of us) proudly stuck on the 'I Voted' sticker provided at completion of their vote as their ballot was confirmed as legit again (a 2nd time!). And this was for a School Finance issue, BTW. All voters simply were being proud, responsible, caring and patriotic people, period.
81 million? I don't believe it. As you described, often there were more Trump supporters that showed up at Biden rally's. He couldn't even get get people to fill up a double-spaced parking event remaining in their cars. Risk of 'spreading Covid' obviously wasn't the issue, of course. No . lack of interest was. And that suddenly interest soared to the record vote count claimed just doesn't compute.
But, I come to be considered an insurrectionist-conspiracy theory nut job questioning that count. Never mind, as you noted, the sudden stoppages of counting, or, that sudden vote count change in Arizona ON LIVE TV that happened during a station break. Those #'s in Arizona alone would have given that state to Trump, but at the risk of the Fascist arm, I mean FBI seizing me and my assets, I shall stop now as my blood pressure needs to settle down a bit... My absolute best to you sir! (WrH)
Well WrH, I'm glad that Idaho is NOT like Arizona! I lived in Phoenix a few years back in the 80's, but am very glad to be only about a mile or two from Lake Superior now (ever since I left there). Never liked the traffic light to traffic light travel. Even the freeways are overcrowded. I go back from time to time and am always glad to get back home. Unfortunately, this is a university town, so a certain percentage of it is far too liberal. But I still pray for them and point the Way in case one (or more!) will turn to the Lord.
And don't worry about our fake President. He and his enablers and string pullers will pay an eternal price if they don't repent. Let's pray for our fellows and our children and our grandchildren. May they not be deceived, and may they lead many others to God's glory.
G'evening Chuck, Your comment is such a good reminder for me to not get caught up in the foibles of this world. It's necessary to be responsible and I am an advocate for my daily-life being intentional as a testimonial of a greater-good in Jesus. But sometimes frustration and concern for this country's spiral 'round the drain' stuff providing a scary future for my Grandkids becomes a distraction from the Truth. This world will fail - this country was "after God's Heart", so to speak, in it's founding principals having been grounded in God's inalienable rights as Truth. Less God has equated to less value throughout. It has been quite interesting for me taking up Mark's 'Meaning in History' regularly. I'm confident I've 'commented' on this blog 30 times more than my total previous online-postings in total. Some folks have become sorta friends here and while I do not intend on offending anyone, I've not experienced rude interactions (known of as normal, elsewhere). I will simply leave you with my appreciation for you contributing for the Blessing aspect here. Hope your weekend is awesome! Those Great Lakes are really an amazing part of this amazing Creation we get to live in. (WrH) <-- :^) -->
Glad you are walking with the Lord, Wayne. Keep on doing that and sharing the Good News of the Kingdom of God! Here's the first song on the playlist my wife and I listen to each Sunday morning as we are getting ready to go worship our Lord:
The Greens in Germany may be starting to get their come-uppance as a new poll shows, finally, that the AfD (Alternatif für Deutschland) has taken a slight (1 point) lead in polling before elections in May…seems coal isn’t so bad after all. After Russia and China, is it too much to ask that Europe take its own destiny in its own hands?
I saw an article yesterday that said that even a slight fender bender with an EV, if it damaged the battery pack in any way, could lead to the whole car being junked.
G'day RNo, I hope you're wrong about Europe going with Putin's likely offers. Worse, the fact that the US has created this circumstance is very real. The 'good' the US could represent for this world is not what's being perpetrated. I think we common US citizens kinda 'think positive' that our 'Leaders' are doing what's moral and righteous when it is exactly the opposite. "Are We the Baddies?" (to quote a Nazi-movie scene). Hope you're warming up, up there! *(Insider - Idaho joke)... (WrH)
With you I am - (did that sound kinda Yoda-ish?). This is a GREAT Country experiencing a consequence of affluence. But it's the People that make it great and in spite of our Marxist overrun education system, people can (and I believe will) return much of it's former great self. The constitution was well thought out and contains avenues of repair. Tnx RNo! (WrH)
RNo suggested Putin working with EU folks, 'post NATO'. From your comment, I think that might be better for them vs. Davos's plans. Hard-to-swallow consequences being wrung out in all this. Hope you're have the best day possible Castellotto! (WrH)
Biden joined the Cabal wanting to be-friend Iran rather than constrain it. Like most current regime plans, it didn't quite work out so well for them. (IMHO is off a little for me to use here: I don't feel particularly humble in that it hurts to think of the results: Afghanistan pull-out HURTS; and Iran having Nukes is not in anyone's best interest). Best regards RNo! (WrH)
Drone strike by Iran on the US in Syria.
Then this mocking of Biden on Saudi TV:
https://www.zerohedge.com/geopolitical/national-embarrassment-saudi-tv-mocks-biden-skit
What are we gonna do? A drone strike on Riyadh? Drone strikes are not a universal solution. It's like the guy with a hammer.
I found Danielle DiMartino-Booth’s brief interview with David Lin (formerly of Kitco News) this afternoon to be especially lucid… or maybe I’m just finally getting what she’s been saying through my thick skull:
https://youtu.be/ZQw5pgqFH4A
During the interview she references a monster essay she just posted for free on substack titled, “Too Small to Not Fail: A Short History of the World,” in which she goes into great detail explaining her interpretation of what JayPow is up to:
https://dimartinobooth.substack.com/p/too-small-to-not-fail-history
Good article - the office commercial real estate market is in trouble, especially in blue cities. Plus the loans are short term, 7 years and under, and can be variable.
Multi family has good vacancy rates, recent rent increases, but those that bought recently betting on continual higher rent increases to service their loans may be in for a nasty surprise.
I have a 12th floor corner office on a heavy technical area and it’s a ghost town outside. Parking lots are growing trees in the pavement cracks.
Thanks, BA! Very clear messages from her in the video (as you note). I appreciate hearing her succinctly state her view of what Powell may be doing and why that would be a good thing, beginning around 13:30. Totally in accord with Luongo's views.
The essay is excellent reading but scary. We all could be in for a very rough and unpredictable ride over the next couple of years. I had thought the small community banks might have some immunity to SVB issues like interest rate risk, bank runs, and credit risk in a tightening liquidity environment. But alas quite the contrary according to the essay. It appears the Fed is going to be very busy dealing with the effects of its well-intended desire to take back control of U.S. monetary policy and reintroduce proper risk assessment to the markets.
This is waay off topic, but I saw that someone over at American Greatness just tweeted that the FBI has had an informant on the legal defense team of one of the Jan 6 defendants!!! How in the hell does that happen? Just when I thought that I couldn’t possibly have a lower opinion of Chris Wray, this news pops up. Brings a whole new dimension to the word despicable.
I keep holding my breath and thinking, “ok, we’ve hit bottom, so the only direction left is up.” WRONG. The Neanderthals in DC apparently possess an infinite capacity for depraved and treacherous conduct.
I try to remain optimistic, but it is rapidly slipping from my grasp.
The informant was a defense witness, and even prayed with the defendant’s families. The accusation is they were spying on the defense team.
https://twitter.com/julie_kelly2/status/1638619833125183496?cxt=HHwWkICxtc6Dxr0tAAAA
And the fbi is alleging they can spy on defendants legal discussions, since they are in prison. And shared it with doj.
How are we any different from the old Soviet Union? This is just incredible and Christopher Wray is worse than useless. I can’t believe this is the United States.
And how do other country leaders view US Lecturing / hectoring/ bullying on rule of law, election integrity, and corruption?
Mexico’s President just brought up the Nord sea pipeline bombing, as pushback to US pressure.
https://theconservativetreehouse.com/blog/2023/03/22/mexican-president-amlo-hits-biden-over-likely-arrest-of-trump-while-pushing-back-against-dangerous-cartel-narrative/
Our prestige and respect among nations is pretty much gone, laying in tatters at the feet of Joe “laughing boy Biden and his sorry incompetent lot of handlers and manipulators.
Our once proud country is now almost universally reviled and despised, but the elites still possess the unbridled temerity to look down their noses while lecturing the rest of the world.
Who was it that said, “America’s chickens have come home to roost”?
Amazing.
In his 1998 book, Brzezinski said US could have greater hegemony if not for the obstacle that most Americans dislike war and the economic sacrifice (defense spending) it requires. He wrote: “America is too democratic at home to be autocratic abroad. This limits the use of America’s power, especially its capacity for military intimidation. Never before has a populist democracy attained international supremacy. But the pursuit of power is not a goal that commands popular passion, except in conditions of a sudden threat or challenge to the public’s sense of domestic well-being. The economic self-denial (that is, defense spending) and the human sacrifices (casualties even among professional soldiers) required in the effort are uncongenial to democratic instincts. Democracy is inimical to imperial mobilization.” [The Grand Chessboard, Basic Books, pp. 35-36]….
Brzezinski was a virulent opponent of…any challenge to the existing capitalist order from the left. In 1968, during the mass protests against the Vietnam War, he wrote in the New Republic that students should be prevented from protesting by locking them up, adding that if the protests’ “leadership cannot be physically liquidated, it can at least be expelled from the country.""...May 29, 2017, “Zbigniew Brzezinski, architect of the catastrophe in Afghanistan, dead at 89,” Bill Van Auken, wsws.org
Danielle DiMartino Booth
@DiMartinoBooth
·
Third, she’s in way over her head.
Randy Woodward
@TheBondFreak
·
Replying to @DiMartinoBooth and @business
Ok, so we can determine with high confidence two things from these Yellen comments. First, she does not have a smartphone. Second, she does not realize deposits are up 4x since the FDIC last increased insurance to $250k Oct. 3rd, 2008.
Will anyone do something to make use of Lagarde- you know, maybe turn her an ottoman or a good pair of boots.
Good geo politics. Add in Jeff Nyquist on China/Russia. Fake dissolution of Soviet Union, false Soviet/Sino split, leaked General Chi docs about biological warfare against US, etc. They are masters of deception and patience. For whole picture start here - https://jrnyquist.blog/2023/03/11/the-triumph-of-misdirection/
Great read today, thx Mark!
What stupidity! Total global hegemony. I'm sure the average American goes to bed dreaming of this. If only we could take over the most important region in the world: the Heartland! Nice to know "the USSR had foiled Israeli zionist expansion for a long time." Like when little Israel ceded the West Bank and Gaza to the Palestinians and became even more tiny. If these theories are what is driving our 'elite,' I suggest they spend some energy on propping up their support among normal American citizens before they attempt to project their power globally.
Clark? Seriously? Bill and Hillary's chosen Military Man? We will have to see.
The Russians are firmly in control of the World Island, and have invited China, India and Iran to visit. The Russians, Chinese and Saudis are sorting out a lot of the current geopolitical issues and the first the neocons know about it is when they read the morning papers. The neocon foreign policy - if it can be dignified with that name - is in total collapse.
Good riddance to Neocon "foreign policy". They act like they are fighting (with others' lives) for the benefit of the US and "democracy". They're not. They're fighting for the globalists who profit from this BS while the average US citizen is left picking up the tab.
G'SPRING-day, S'21, (we of the more northern-climes are glad for the warming Springtime is bringin'! Since you folk of the SW tended to remain cozy-warm these past months...)
Your comment rings true; I'll only marginally disagree with the Neocon's policies being in Total collapse. Failing spectacularly but with the resources of the US, they just alter 'policy' to accommodate their failures and keep movin' on. Not even millions of lost lives for their 'policies' seem to matter; the US Military Industrial Complex has that (once formidable) US Manufacturing capacity at it the Neocon's rear, so to speak. Question is whether their ultimate dismantlement will be done as that requires the American citizens' arising against it. Sadly, those alleged 81 million Biden/Harris voters indicate an inability to do what's right. Always sir, my best wishes! (WrH)
Hey WrH, I deeply (and sadly) suspect that those supposed 81M Biden votes are inflated by a factor of at least two. He couldn't get more than two dozen non-media or body guard types to his so-called rallies. No way he got more than half of what they credited him with. The rest were manufactured until they had enough. And even that took days after the election was "over.".
G'day Chuck, Than you for sharing your note here.
I have grave misgivings about the 2020 'Covid Election'. Mail in ballots at Federal request/requirement is, as I understand it, unconstitutional. Not being a lawyer of any sort but trying to be a law-abiding citizen, I can read and see that such elections are the responsibility of States' legislatures and laws. There's no 'due to Pandemic Emergency' clause to be found anywhere in our Constitution.
That said, I was blessed to be able to volunteer and serve for a State (local) election here in Idaho a week or so ago. The requirements for proof to register and/or vote here are easy - but vilified by Democrats nationally. Picture ID to prove it's you, as registered, to vote and 2 picture ID's Plus evidence of residency of >30 days to register. These are required even if registered/registering individual is known to we workers - required. (Knowing folks coming in is really common in my small SW Idaho town). The system in place takes no one for granted; example - I worked with getting a ballot for a Local Police officer, well known and respected, who's home is new and it's address not listed yet on state voting records (new development): this required an additional affidavit being filed so he could vote. And you know what? Not him nor a single other voter that day minded these requirements a bit. And every one (of us) proudly stuck on the 'I Voted' sticker provided at completion of their vote as their ballot was confirmed as legit again (a 2nd time!). And this was for a School Finance issue, BTW. All voters simply were being proud, responsible, caring and patriotic people, period.
81 million? I don't believe it. As you described, often there were more Trump supporters that showed up at Biden rally's. He couldn't even get get people to fill up a double-spaced parking event remaining in their cars. Risk of 'spreading Covid' obviously wasn't the issue, of course. No . lack of interest was. And that suddenly interest soared to the record vote count claimed just doesn't compute.
But, I come to be considered an insurrectionist-conspiracy theory nut job questioning that count. Never mind, as you noted, the sudden stoppages of counting, or, that sudden vote count change in Arizona ON LIVE TV that happened during a station break. Those #'s in Arizona alone would have given that state to Trump, but at the risk of the Fascist arm, I mean FBI seizing me and my assets, I shall stop now as my blood pressure needs to settle down a bit... My absolute best to you sir! (WrH)
Well WrH, I'm glad that Idaho is NOT like Arizona! I lived in Phoenix a few years back in the 80's, but am very glad to be only about a mile or two from Lake Superior now (ever since I left there). Never liked the traffic light to traffic light travel. Even the freeways are overcrowded. I go back from time to time and am always glad to get back home. Unfortunately, this is a university town, so a certain percentage of it is far too liberal. But I still pray for them and point the Way in case one (or more!) will turn to the Lord.
And don't worry about our fake President. He and his enablers and string pullers will pay an eternal price if they don't repent. Let's pray for our fellows and our children and our grandchildren. May they not be deceived, and may they lead many others to God's glory.
God bless!
G'evening Chuck, Your comment is such a good reminder for me to not get caught up in the foibles of this world. It's necessary to be responsible and I am an advocate for my daily-life being intentional as a testimonial of a greater-good in Jesus. But sometimes frustration and concern for this country's spiral 'round the drain' stuff providing a scary future for my Grandkids becomes a distraction from the Truth. This world will fail - this country was "after God's Heart", so to speak, in it's founding principals having been grounded in God's inalienable rights as Truth. Less God has equated to less value throughout. It has been quite interesting for me taking up Mark's 'Meaning in History' regularly. I'm confident I've 'commented' on this blog 30 times more than my total previous online-postings in total. Some folks have become sorta friends here and while I do not intend on offending anyone, I've not experienced rude interactions (known of as normal, elsewhere). I will simply leave you with my appreciation for you contributing for the Blessing aspect here. Hope your weekend is awesome! Those Great Lakes are really an amazing part of this amazing Creation we get to live in. (WrH) <-- :^) -->
Glad you are walking with the Lord, Wayne. Keep on doing that and sharing the Good News of the Kingdom of God! Here's the first song on the playlist my wife and I listen to each Sunday morning as we are getting ready to go worship our Lord:
https://m.youtube.com/watch?v=DfW2mkkMTAg
There's a related expression:
He who smelt it dealt it.
The Greens in Germany may be starting to get their come-uppance as a new poll shows, finally, that the AfD (Alternatif für Deutschland) has taken a slight (1 point) lead in polling before elections in May…seems coal isn’t so bad after all. After Russia and China, is it too much to ask that Europe take its own destiny in its own hands?
FYI - Apparently German auto makers are throwing a wrench into the EU legislation outlawing the sale of cars with ICE’s by 2035!
https://www.theguardian.com/world/2023/mar/22/germanys-e-fuel-eu-loophole-could-mean-135bn-more-litres-of-petrol-burnt
Absolutely. EVs mean less distance traveled keeping people closer to cities. All about control.
I saw an article yesterday that said that even a slight fender bender with an EV, if it damaged the battery pack in any way, could lead to the whole car being junked.
G'day RNo, I hope you're wrong about Europe going with Putin's likely offers. Worse, the fact that the US has created this circumstance is very real. The 'good' the US could represent for this world is not what's being perpetrated. I think we common US citizens kinda 'think positive' that our 'Leaders' are doing what's moral and righteous when it is exactly the opposite. "Are We the Baddies?" (to quote a Nazi-movie scene). Hope you're warming up, up there! *(Insider - Idaho joke)... (WrH)
With you I am - (did that sound kinda Yoda-ish?). This is a GREAT Country experiencing a consequence of affluence. But it's the People that make it great and in spite of our Marxist overrun education system, people can (and I believe will) return much of it's former great self. The constitution was well thought out and contains avenues of repair. Tnx RNo! (WrH)
RNo suggested Putin working with EU folks, 'post NATO'. From your comment, I think that might be better for them vs. Davos's plans. Hard-to-swallow consequences being wrung out in all this. Hope you're have the best day possible Castellotto! (WrH)
Biden joined the Cabal wanting to be-friend Iran rather than constrain it. Like most current regime plans, it didn't quite work out so well for them. (IMHO is off a little for me to use here: I don't feel particularly humble in that it hurts to think of the results: Afghanistan pull-out HURTS; and Iran having Nukes is not in anyone's best interest). Best regards RNo! (WrH)