Elon Musk: Enemy of the State

Will They Break Him? [The Daily Reckoning] November 12, 2022 [WEBSITE]( | [UNSUBSCRIBE]( Elon Musk: Enemy of the State - “Elon is now an official enemy of the state”… - Absolute corruption… - Elon Musk is showing us how to beat the bad guys… [Attention! Before You Read Any Further…]( Before you read any further in today’s issue, an urgent situation needs your immediate attention. If you don’t plan on claiming this new upgrade to your Strategic Intelligence subscription, you’re missing out on a huge opportunity. Right now is your chance to grab one of the biggest (and most valuable) upgrades our company has ever made to a newsletter. I’m taking Strategic Intelligence to an entirely new level and I’d hate to see you left behind. [Click Here Now]( West Hartford, Connecticut November 12, 2022 Editor’s note: As you likely have heard by now, Elon Musk has purchased Twitter. But as Jeffrey Tucker shows you today, this was no normal business transaction. Jeffrey shows you the massive implications it has for freedom and the fight against the “deep state.” [Jeffrey Tucker] JEFFREY TUCKER Dear Reader , Elon Musk never should have bought the puffed-up and unprofitable site Twitter, which had blown up way beyond its sustainable size due to cheap credit, and certainly not for $44B. The courts should not have forced this once Elon discovered that the company’s claims for its reach were impossible to verify. Still, we should be glad it happened as it did. By buying Twitter, Musk has not only set the site on a course to end the bans and censorship. What this really does is smash the Big Tech cartel that has become nothing but an agent of the national security state, spying and ratting people out and enforcing government propaganda priorities. Elon is now an official enemy of the state. It’s not clear that he wanted to become that but he somehow could not let go of his common sense. When the lockdowns came, he pulled up his factory and moved to Texas. That’s how fast he moves. He fears not being agile or taking risks. That’s how his mom raised him and how he became the richest man in America. Looked At I was watching one of those ridiculous presidential press conferences the other day and the reporters were, as usual, lobbing softball questions at the elderly patient we call the president. The reporter asked the strangest question: Will the government be investigating Elon Musk and his relationships with foreign governments? For some reason, Biden gave out a wry smile, almost as if the issue had somehow come up previously. He gave a halting reply that almost seemed improvisatory. He said that the government would be “looking at” Musk over his relations with Saudi Arabia and China. It was utterly bizarre. I thought at the time that this was just some bloviating nonsense designed to fill air time. Nothing serious. In retrospect, it seems like more. The head of state specifically announced that Musk was under investigation by the deep state. That’s an incredible thing but perhaps entirely expected. They cannot tolerate free speech on such a big platform. It threatens to disrupt the great agenda of the last three years, which has been to reestablish the information controls that existed before the age of the internet. [Man Who Predicted Bitcoin Warns: “Don’t Buy Bitcoin!”]( [Click here for more...]( James Altucher first predicted Bitcoin all the way back in 2013… And ever since, he’s been one of the biggest advocates for it. But now, he’s warning Americans that buying Bitcoin could be a big mistake… [Click Here To See Why]( Musk CAN’T Succeed In the view of the deep state, Elon cannot be allowed to succeed. This is why so many establishment advertisers immediately pulled out of the platform. It was an attempt to bankrupt the thing even before it got going. So when Elon rocked up, the company was immediately bleeding millions each day. His first action was to fire the top management and make life as uncomfortable as possible for those who remained. It took a week or so but they packed their bags. He proceeded to lay off half the 7K-plus workers. Then he ordered some all-nighters to patch the bleeding wounds by going to a pay model. He sold something as little as a blue checkmark but those have been coveted on the platform for a very long time. It turned out that many Twitter employees had been selling them in some kind of black market. Absolute corruption. The Purge Unique to Musk’s style is his blunt honesty in public about his businesses and business conditions. It’s variously gotten him in grave trouble with the Securities and Exchange Commission because, as we all know, free speech is not allowed when it comes to the financial industry. Elon doesn’t care. He speaks his mind. And so the other day at a staff meeting of exhausted employees, newly required to actually come to work, he dropped the B word: bankruptcy. It’s entirely possible that the company could move into Chapter 11 in time, even before the year’s end. This is despite having more users and usage than ever before. Elon has made the company a huge success in only two weeks but, as we all know, success in business and finance is not defined by popularity but by the balance sheet. The company is bleeding money and creditors are getting extremely antsy. Adding to the problems is that the state has targeted him and Twitter for complete destruction. The deep state was clearly emboldened by election returns on Tuesday, which failed utterly to terrify the powers that be but rather shored up the impression that the ruling class is here to stay. A New Business Model No question that he and his new toy are in a situation of profound difficulty. Maybe his model of monetization works or maybe it doesn’t but he has still made a great contribution. He has exposed the great lie or great truth of highflying social media companies. If the service is for free, that means that YOU are the product. They have been getting a free ride for 10 or more years, pillaging data and selling it to all buyers, including governments. They push ads on you and the big advertisers are those who are also connected to the powers that be: most importantly Pfizer. Ever wonder why you so rarely heard about the downside of vaccines and mandates? This is why. The companies were taking orders from this one company rather than minding their customers and stockholders. [[CHART] Could Inflation Hit 20%+ In 2023?]( [Click here for more...]( Take a close look at this scary chart pictured here… What you see is the money supply in America… And as you can see, the number of dollars in circulation has exploded in the last few years. In fact, more than 80% of all dollars to ever exist have been printed since just 2020 alone! Which is why some say inflation could soon explode even higher than it is now, to 20% or more. And if you’re at or near retirement age you must take action now to protect yourself… otherwise you risk losing everything. See how to survive America’s deadly inflation crisis. [Click Here To Learn More]( Musk is absolutely right to move to a pay model. The free model under centralized platforms has failed. To be sure, there will be innovative ways in the future to fund free platforms via blockchain technology. But for the time being, this is becoming legally very difficult. One innovative platform called Odyssey attempted this but ran afoul of the regulators because they said that the platform was selling securities. Just a few days ago, a judge agreed. This means that the government is being deployed to stop via coercion the next generation of technologies that George Gilder has correctly written represent the future of information economies. Future Not Yet My friends, we all want all this horribleness to go away sooner rather than later. But as the elections have demonstrated, the future keeps being pushed forward in time. The slog will be long and hard. Meanwhile, Wall Street is trying to make the best of it. This week’s CPI report was absolutely awful: 0.4% month-over-month, same as last month, and 7.7% over 12 months, which is only lower overall due to a summer softening that seems to be abating. Regardless, this is intolerable inflation. Still, financial markets went nuts with joy, simply because it seems to signal that the Fed might loosen its grip sooner rather than later. I happen to think this is wrong: I think Jerome Powell is conducting a holy war against cheap money. He wants it to be his legacy. Still, Wall Street is hoping against hope that he will dial it all back just a bit. This Is Pathetic No one doubts that inflation is still embedded and raging but there is now the remote possibility that Powell will chill sometime next year. To put it bluntly, this is pathetic. But hey, in these times, markets look for good news whenever they can find it. For now, and probably not for long, traders have found it in traditional, dividend-paying stocks, even while they continue to eschew the highflying and puffed-up tech giants that once bestrode the Earth. The world will right itself at some point, thanks entirely to economic and not political forces. Elon is showing the way. Even if Twitter goes belly up, the case study is a lesson in the failure of woke ideology and censorship. No one said that the trajectory from our world of lies to a peaceful and prosperous land of plenty would be a straight line. Regards, Jeffrey Tucker for The Daily Reckoning Editor’s note: Everywhere you turn in tech circles, people are talking about [the Metaverse.]( In case you didn’t know, Facebook’s now called Meta. Microsoft’s CEO says, “The Metaverse is here.” Apple’s all in too. But there’s a [critical piece of the Metaverse story]( you’re NOT hearing about. But if you’re an investor, you definitely want to hear about it. [Click here now for the full details.]( Thank you for reading The Daily Reckoning! We greatly value your questions and comments. Please send all feedback to [feedback@dailyreckoning.com.](mailto:feedback@dailyreckoning.com) [Jeffrey Tucker] [Jeffrey Tucker]( is an independent editorial consultant who served as Editorial Director for the American Institute for Economic Research. He is the author of many thousands of articles in the scholarly and popular press and eight books in 5 languages, most recently Liberty or Lockdown. He speaks widely on topics of economics, technology, social philosophy, and culture. [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2022 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your The Daily Reckoning e-mail subscription and associated external offers sent from The Daily Reckoning, feel free to [click here.]( Please note: the mailbox associated with this email address is not monitored, so do not reply to this message. We welcome comments or suggestions at feedback@dailyreckoning.com. This address is for feedback only. For questions about your account or to speak with customer service, [contact us here]( or call (844)-731-0984. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized financial advice. We allow the editors of our publications to recommend securities that they own themselves. However, our policy prohibits editors from exiting a personal trade while the recommendation to subscribers is open. In no circumstance may an editor sell a security before subscribers have a fair opportunity to exit. The length of time an editor must wait after subscribers have been advised to exit a play depends on the type of publication. All other employees and agents must wait 24 hours after on-line publication or 72 hours after the mailing of a printed-only publication prior to following an initial recommendation. Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. The Daily Reckoning is committed to protecting and respecting your privacy. We do not rent or share your email address. Please read our [Privacy Statement.]( If you are having trouble receiving your The Daily Reckoning subscription, you can ensure its arrival in your mailbox by [whitelisting The Daily Reckoning.](