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The Lies of Our (Financial) Times
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Introduction

The leading financial publications have misled their political and investor subscribers of emerging crises and military defeats which have precipitated catastrophic political and economic losses.

The most egregious example is the Financial Times (FT) a publication which is widely read by the business and financial elite.

In this essay we will proceed by outlining the larger political context that sets the framework for the transformation of the FT from a relatively objective purveyor of world news into a propagator of wars and failed economic policies.

In part two we will discuss several case studies which illustrate the dramatic shifts from a prudent business publication to a rabid military advocate, from a well-researched analyst of economic policies to an ideologue of the worst speculative investors.

The decay of the quality of its reportage is accompanied by the bastardization of language. Concepts are distorted; meanings are emptied of their cognitive sense; and vitriol covers crimes and misdemeanors.

We will conclude by discussing how and why the ‘respectable’ media have affected real world political and market outcomes for citizens and investors.

Political and Economic Context

The decay of the FT cannot be separated from the global political and economic transformations in which it publishes and circulates. The demise of the Soviet Union, the pillage of Russia’s economy throughout the 1990’s and the US declaration of a unipolar world were celebrated by the FT as great success stories for ‘western values’. The US and EU annexation of Eastern Europe, the Balkan and Baltic states led to the deep corruption and decay of journalistic narratives.

The FT willing embraced every violation of the Gorbachev-Reagan agreements and NATO’s march to the borders of Russia. The militarization of US foreign policy was accompanied by the FT conversion to a military interpreter of what it dubbed the ‘transition to democratization’.

The language of the FT reportage combined democratic rhetoric with an embrace of military practices. This became the hallmark for all future coverage and editorializing. The FT military policies extended from Europe to the Middle East, the Caucasus, North Africa and the Gulf States.

The FT joined the yellow press in describing military power grabs, including the overthrow of political adversaries, as ‘transitions to democracy’ and the creation of ‘open societies’.

The unanimity of the liberal and rightwing publications in support of western imperialism precluded any understanding of the enormous political and economic costs which ensued.

To protect itself from its most egregious ideological foibles, the FT included ‘insurance clauses’, to cover for catastrophic authoritarian outcomes. For example they advised western political leaders to promote military interventions and, by the way ,with ‘democratic transitions’.

When it became evident that US-NATO wars did not lead to happy endings but turned into prolonged insurgencies, or when western clients turned into corrupt tyrants, the FT claimed that this was not what they meant by a ‘democratic transition’ – this was not their version of “free markets and free votes”.

The Financial and Military Times (?)

The militarization of the FT led it to embrace a military definition of political reality. The human and especially the economic costs, the lost markets, investments and resources were subordinated to the military outcomes of ‘wars against terrorism’ and ‘Russian authoritarianism’.

Each and every Financial Times report and editorial promoting western military interventions over the past two decades resulted in large scale, long-term economic losses.

The FT supported the US war against Iraq which led to the ending of important billion-dollar oil deals (oil for food) signed off with President Saddam Hussein. The subsequent US occupation precluded a subsequent revival of the oil industry. The US appointed client regime pillaged the multi-billion dollar reconstruction programs – costing US and EU taxpayers and depriving Iraqis of basic necessities.

Insurgent militias, including ISIS, gained control over half the country and precluded the entry of any new investment.

The US and FT backed western client regimes organized rigged election outcomes and looted the treasury of oil revenues, arousing the wrath of the population lacking electricity, potable water and other necessities.

The FT backed war, occupation and control of Iraq was an unmitigated disaster.

Similar outcomes resulted from the FT support for the invasions of Afghanistan, Libya, Syria and Yemen.

For example the FT propagated the story that the Taliban was providing sanctuary for bin Laden’s planning the terror assault in the US (9/11).

In fact, the Afghan leaders offered to turn over the US suspect, if they were offered evidence. Washington rejected the offer, invaded Kabul and the FT joined the chorus backing the so-called ‘war on terrorism which led to an unending, one trillion-dollar war.

Libya signed off to a disarmament and multi-billion-dollar oil agreement with the US in 2003. In 2011 the US and its western allies bombed Libya, murdered Gadhafi, totally destroyed civil society and undermined the US/EU oil agreements. The FT backed the war but decried the outcome. The FT followed a familiar ploy; promoting military invasions and then, after the fact, criticizing the economic disasters.

The FT led the media charge in favor of the western proxy war against Syria: savaging the legitimate government and praising the mercenary terrorists, which it dubbed ‘rebels’ and ‘militants’ – dubious terms for US and EU financed operatives.

Millions of refugees, resulting from western wars in Libya, Syria, Afghanistan and Iraq fled to Europe seeking refuge. FT described the imperial holocaust – the ‘dilemmas of Europe’. The FT bemoaned the rise of the anti-immigrant parties but never assumed responsibility for the wars which forced the millions to flee to the west.

The FT columnists prattle about ‘western values’ and criticize the ‘far right’ but abjured any sustained attack of Israel’s daily massacre of Palestinians. Instead readers get a dose of weekly puff pieces concerning Israeli politics with nary a mention of Zionist power over US foreign policy.

FT: Sanctions, Plots and Crises: Russia, China and Iran

The FT like all the prestigious media propaganda sheets have taken a leading role in US conflicts with Russia, China and Iran.

ORDER IT NOW

For years the scribes in the FT stable have discovered (or invented) “crises” in China’s economy- always claiming it was on the verge of an economic doomsday. Contrary to the FT, China has been growing at four times the rate of the US; ignoring the critics it built a global infrastructure system instead of the multi-wars backed by the journalist war mongers.

When China innovates, the FT harps on techno theft – ignoring US economic decline.

The FT boasts it writes “without fear and without favor” which translates into serving imperial powers voluntarily.

When the US sanctions China we are told by the FT that Washington is correcting China’s abusive statist policies. Because China does not impose military outposts to match the eight hundred US military bases on five continents, the FT invents what it calls ‘debt colonialism” apparently describing Beijing’s financing large-scale productive infrastructure projects.

The perverse logic of the FT extends to Russia. To cover up for the US financed coup in the Ukraine it converted a separatist movement in Donbass into a Russian land grab. In the same way a free election in Crimea is described as Kremlin annexation.

The FT provides the language of the declining western imperial empires.

Independent, democratic Russia, free of western pillage and electoral meddling is labelled “authoritarian”; social welfare which serves to decrease inequality is denigrated as ‘populism’ —linked to the far right. Without evidence or independent verification, the FT fabricates Putinesque poison plots in England and Bashar Assad poison gas conspiracies in Syria.

Conclusion

The FT has chosen to adopt a military line which has led to a long series of financially disastrous wars. The FT support of sanctions has cost oil companies billions of dollars, euros and pounds. The sanctions, it backed, have broken global networks.

The FT has adopted ideological postures that threaten supply chains between the West, China, Iran and Russia. The FT writes in many tongues but it has failed to inform its financial readers that it bears some responsibility for markets which are under siege.

There is unquestionably a need to overhaul the name and purpose of the FT. One journalist who was close to the editors suggests it should be called the “Military Times” – the voice of a declining empire.

 
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  1. War is a proven money maker. Obscene profits are to be made which outshine the death and destruction.

    • Replies: @lulu
  2. I read the weekly British “Economist” for years, which is a well known international news magazine. It has good stories and insight, but they are always pro-war and pro-empire, and in recent years push open borders. I tired of supporting this propaganda and canceled by subscription four years ago.

    Unz.com and Antiwar.com are better, and free!

    • Agree: Brewer
    • Replies: @Anon
    , @Alfred
  3. dearieme says:

    We used to take the FT on a Saturday. We gave it up not on the grounds of its politics – we hardly glanced at that sort of pish anyway – but because of the decline in the standard of its Arts coverage. That was so sudden that I imagine that it corresponded to a change in the editor of the section.

    Otherwise – well what do you expect? I no longer watch the TV news or listen to the radio. We haven’t taken the local rag for years. We take a national morning paper during the week only on my wife’s insistence. We’ve given up the magazines we’ve taken in the past, including the Economist. The last magazine we took – second-hand, as it happens – was Quadrant, an Aussie publication. It was rather good. We stopped it only because our supply dried up.

    • Replies: @Johann
    , @jacques sheete
  4. I know this is going to sound crazy, but that sounds just like the track record for the New York Times. Come to think of it, the Washington Post as well. Wow, what are the odds? Sounds like collusion.

  5. kiers says:

    You can not
    hope to bribe or twist,
    Thank God!
    the British Journalist,
    but seeing what the man will do
    Unbribed,
    there’s no reason to.

    • LOL: RadicalCenter
    • Replies: @Felix-Culpa
  6. tiny Tim says:

    It would be of interest to see who owns FP and the Economist, I would expect Jewish.

    • Replies: @lulu
  7. lulu says:
    @Walter Duranty

    War is a proven money maker.

    Spot on! Tha’s why every entity (media, academia, mic, banks, etc. ) would bend over to money.

  8. lulu says:
    @tiny Tim

    FT is now owned by Japanese media group Nikkei Inc. , which bought Financial Times from Pearson for £844m ($1.32 billion). Take a look of current Editor Lionel Barber cv:

    Lionel Barber, 52, is the editor of the Financial Times. He has lived in Washington, Brussels, London and New York during his 20-year career at the publication, covering the end of the Cold War, the first Gulf War and several US presidential campaigns. He also briefed George W Bush ahead of his first visit to Europe as president.

    He surely belongs to the insider club: https://www.independent.co.uk/news/media/lionel-barber-my-life-in-media-768671.html.

    Econimst, according to wiki:

    Peason PLC held a 50% shareholding via The Financial Times Limited until August 2015; at that time Pearson sold their share in the Economist. The Agnelli family’s Exor paid £287m to raise their stake from 4.7% to 43.4%, while the Economist paid £182m for the balance of 5.04m shares which will be distributed to current shareholders. Aside from the Agnelli family, smaller shareholders in the company include Cadbury, Rothschild, Schroder, Layton and other family interests as well as a number of staff and former staff shareholders.

    • Replies: @Dan Hayes
    , @Wally
    , @Dave Bowman
  9. jim jones says:

    The FT sent me an email recently saying my account was being closed due to lack of activity. Maybe if they practiced actual journalism I would have read it more.

  10. Dan Hayes says:
    @lulu

    lulu:

    Eamonn Fingleton has discussed Nikkei’s FT takeover in the UR (July 24 and 30, 2015).

    (In the interim, it appears that Fingleton has ceased being a UR contributor.)

  11. Wally says:
    @lulu

    Revealing interview with Barber here: http://www.alainelkanninterviews.com/lionel-barber/

    This pretty much describes him.

  12. All economists and their newspapers are nothing but bullshit. Recently, Bloomberg News keeps pumping up Africa with the investment from China into some new Financial Mecca. The entire continent of Africa is always one step away from collapse from disease, revolution, corrupt leaders, and just plain idiocy. My friends work there in the fields of medicine, commerce and investment. They tell me you would not believe how difficult it is to get anything done no matter how many times the people are trained.

    China will rape Africa just slightly less than the West or the International Monetary Fund or The World Bank. All the financial papers will tell you how great it’s going to be. Even the Wall Street Journal is nothing more than another pro war, pro death of Americans for the Corporations of the World.

    The entire World’s Economy is just a giant Ponzi Scheme and the economists and the financial papers must keep selling the smoke and mirrors and illusions to a dimwitted public.

    • Replies: @Anon
    , @james charles
  13. Anon[424] • Disclaimer says:
    @Carlton Meyer

    The same with me , I suscribed to The Economist for years , but got tired to be duped and no longer .

    Beware of british news ( lies )

    And Unz is much much better and free , yeaaaa

    • Replies: @prusmc
  14. Epigon says:

    Anyone separating economics and military/war from politics is either being disingenous or stupid.

  15. Nothing new here, just the usual pro-Putin propaganda that’s been trotted out a thousand times.

    • Replies: @Dave Bowman
  16. Alfred says:

    I subscribed to the FT for over 30 years. First, the printed version and then the digital version. Quite a few letters of mine got published – a long time ago.

    Around 5 years ago, I got fed up with the nonsense they were feeding their readership. Simultaneously, they stopped publishing my letters. I got blocked with a red message any time I tried to comment. The online letter column was taken over by people working for the UK government or Israel – it makes little difference.

    Let me describe briefly some of their columnists:

    * Martin Wolf woffles endlessly about economics but has never ever been correct in any of his analysis. He is there simply to cover up what is really going on and to give things an academic gloss.

    * Gideon Rachman is a Zionist through and through who is quite incapable of ever saying the truth about anything that is happening in the Middle East.

    * Roula Khalaf is actually a representative of the Saudi Arabian government and, again, anything she writes about the Middle East may as well come out of one of the public relations firms that are so generously compensated by the Saudi government.

    * Wolfgang Münchau has for years been presenting the European Union as a thoroughly efficient and representative form of government. He is working for the German government.

    I really am surprised at how many people take it seriously. I am in touch by email with several other ex-readers who had similar experiences. I have sent a link to this article to all of them.

  17. Alfred says:
    @Carlton Meyer

    The Economist was excellent – 40 years ago.

    Sadly, it has been in the hands of Rothschild interests for some time now and it presents a very doctored version of reality.

    It seems that the Agnelli family is the biggest shareholder, but I suspect that is just front to hide the real control.

    https://en.wikipedia.org/wiki/Economist_Group

  18. prusmc says: • Website
    @Anon

    Hey there! No need to change name to Military Times that would be copyrite violation. A Military Times with an Army, Navy and Air Force version already exists. It used to be a large, informative and credible weekly.
    It was bought out by one of the big publishing firms. It has degenerated into a politically correct POS about 15 percent it’s former size and about 2 percent of its former validity.

  19. Anon[732] • Disclaimer says:
    @niteranger

    “They tell me you would not believe how difficult it is to get anything done no matter how many times the people are trained.”

    Yes. But of course all the operations must kept to be run by the helpers from the West.
    All they want is to help, and they want it so much that no amount of realization of how unwanted/unhelpful their “help” is would ever prevent them from going on.
    Alright.

    There’s no helping people, and peoples, and even things, becoming what they are not.
    The helpers only seek to help themselves.

  20. Anonymous[207] • Disclaimer says:

    Lame-stream media has prostate problems and urgency. Soon die of cancer.

  21. anon[244] • Disclaimer says:

    With the majority of smartphones, an oxymoron, you pay for the privilege of a tracking-recording device. Soon to be used against you.

    With legacy media you are paying for the privilege of being misinformed+propagandized to.
    !modern ‘capitalism’?

  22. @kiers

    No question, issue, principle, or right;
    No wit, no argument, nor no disdain:
    No hearty quarrel: morning, noon and night
    The old, dead, vulgar fossil drags its train;
    The while three journalists and twenty Jews
    Do with the country anything they choose.

  23. Agent76 says:

    The Biggest Scam In United States History | G. Edward Griffin and Stefan Molyneux

    Stefan Molyneux and G. Edward Griffin discuss the basics of the central banking scheme, the secrecy which went into the creation of the Federal Reserve System in the United States, why central banking is important, the true nature of the income tax, the government control of currency interest rates, the erosion of market signals by government policies, the possibility of a cashless society, the similarity between the Republican/Democrat establishment and the dangers of collectivism.

  24. Johann says:
    @dearieme

    You can get quadrant on line for free.

  25. Why single out the Financial Times? They lie about as much as the rest of Western MSM, like 90% of the time (in the remaining 10% they twist the truth beyond recognition).

    • Replies: @Agent76
    , @The Alarmist
  26. @lulu

    I can’t get any definitive information as to whether Barber or his family are Jewish. But given that Lionel is certainly an uncommon name for Englishmen, but a popular and common Jewish name (cf. Rabbi Lionel Blue, an omnipresent figure in BBC broadcasts), and that his main “High” School was Dulwich College, London, which is and always was very popular with wealthy Jewish families, I’d lay money on it.

  27. AlanSp says:

    I cancelled my subscription to the Economist in 2003 when after researching 9/11 I came to the inevitable conclusion that it was a complete lie and the MSM had played a major role in the cover up.

    Since then I havent bought a single newspaper or news magazine.

  28. @Michael Kenny

    Nothing new here. Just the usual Michael Kenny anti-Right, anti-facts, anti-truth anti-White, pro-Jew, pro-Israel leftist propaganda that’s been trotted out a thousand (financial) times.

  29. Agent76 says:
    @AnonFromTN

    This will give you some great insight.

    Jun. 14, 2012 These 6 Corporations Control 90% Of The Media In America

    That’s consolidated from *50* companies back in 1983. But the fact that a few companies own everything demonstrates “the illusion of choice,” Frugal Dad says.

    http://www.businessinsider.com/these-6-corporations-control-90-of-the-media-in-america-2012-6

  30. Agent76 says:

    Jun 6, 2017 How This Man Created the Modern American Financial System

    Martin’s connection to the Federal Reserve was forged through his family heritage. In 1913, Martin’s father was summoned by President Woodrow Wilson and Senator Carter Glass to help write the Federal Reserve Act that would establish the Federal Reserve System on December 23 that same year. His father later served as governor and then president of the Federal Reserve Bank of St. Louis.

  31. Anon[425] • Disclaimer says: • Website

  32. DB Cooper says:

    Its not just the Financial Times that is full of fake news and agenda driven BS, practically all MSM are the same. This includes the Guardian, NYT, WSJ, the Economist. And this is why people are on unz.com. I don’t know unz.com readership, but I am sure more and more people have wise up to the nonsense of the MSM.

  33. @dearieme

    I no longer watch the TV news or listen to the radio. We haven’t taken the local rag for years…We’ve given up the magazines we’ve taken in the past, including the Economist.

    I can say the same, and one of my sons can as well. He happened to comment the other day that many of his colleagues, like us, don’t even own a television.

    About 15 years ago while driving on a long trip, I turned on the radio. I couldn’t stand it, so off it went after less than 5 minutes.

    The local rags are every bit as horrible and content-free as the big time propaganda sheets.

  34. War is a racket.
    Think about it? UN security council.
    The Korean war of the 50′s.
    Soviet Russia could have blocked it.
    Who was the US President? IKe. What was his leaving speech famous for. MIC. There is a famous radio interview with Ike where he in passing criticises the MIC. Why build a bomb when I can build a school a hospital. Ike in this day in age would have been considered a socialist . Biggest infrastructure spending in the history of the USA. Progressive taxation system PAYE taxing the wealthy at 96 percent.Forcing the wealthy to spend or be taxed.
    It is estimated since Gulf war 2 over 12 trillion dollars was spent on WAR. Meanwhile the western infrastructure system is collapsing everywhere.
    The largest wealth gap since the Gilded age. In the 70′s the average workers annual grosss income was roughly one third to one quarter the value of a roof over his or her head. Today it is more like one tenth to one fifteenth.
    Like Dr Petras states the Chinese spend on infrastructure and industrial goods and service capacity we in the west spend on the industrial military complex and corporate socialism which bye the way is fascism ( the corporate state) term coined by none other than Benito Mussolini in an article he wrote in the 20′s just b4 seizing power in Italy.

    • Replies: @Wizard of Oz
    , @DB Cooper
  35. @AnonFromTN

    Stick to The Daily Mail. Many of the same lies, but more T&A.

    • Replies: @Antiwar7
  36. Anon[425] • Disclaimer says: • Website

    Canary Mission and its Patriot-Baiting.

  37. I am a regular online reader of the FT so I must start looking out for all the wickedness the author detects. Still, I am already ahead of my somnolent 5 am self because I looked up Petras on Wikipedia to check my recollections and I learned something….

    Petra contributes regularly to X and Y and… this seems to be a volunteer editor’s addition – “the far right website Unz.com”. Now that we know the correct label for UR’s orientation who should we thank for that insight? Wally, Art, NoseytheDuke ,,, amongst 100 other UR stalwarts… you can tell us who keeps an editorial watch on Wikipedia and slips in such gems.

  38. @falcemartello

    No the Soviet Union could not have blocked the (resolution which launched the UN into) the Korean War. It wasn’t there

    https://www.history.com/this-day-in-history/soviets-boycott-united-nations-security-council

  39. DB Cooper says:
    @falcemartello

    Imagine the US used the money it spent on the industrial military complex on infrastructures and other civilian projects.

  40. denk says:

    The United States has the right to reject a positive partnership with China but as the world moves on, such a reactionary mentality is out of step with the manifest realities of the world as a whole. Recent American rhetoric towards China only adds supreme insult to this self-harming injury.

    Joyly · about 4 hours ago
    Unfortunately FUKUS focuses solely on benefit for themselves and they are not capable of conceiving the idea of benefit for other countries let alone benefit for the world or humankind. They are in fact against humanity and only benefitting the chosen few.

    https://www.sott.net/article/398001-Americas-confrontational-approach-to-China-is-a-rejection-of-reality

  41. Agent76 says:

    Mar 20, 2017 US Debt of $20 Trillion Visualized in Stacks of Physical Cash

    Showing stacks of physical cash in following sequence: $100, $10,000, $1 Million, $2 Billion, $1 Trillion, $20 Trillion.

    • Replies: @alexander
  42. Anon[130] • Disclaimer says: • Website

    All publications should be named after the publisher. It would clear things up…

    like Bloombergs.

  43. The MSM legacy media is fighting back. Apart from helping to de-platform dissenting points of view, they are increasingly building a case in the public realm bascially stating that only they (the MSM) can save us from ourselves. Lies are Truth. War is Peace. Open Borders are better than having any borders in the first place, etc., etc.

    For an instructive case in point about how the MSM is constructing this latest blanket attack on any alternative to their own echo chamber script, listen to this BBC World Service broadcast below. As usual nowadays, it commences with yet another allegation regarding the 45th POTUS. The “Who Cares?” question is aimed at us—the general public. Not to worry, the Bloomberg News folks and the New York Times (the sources for the BBC World Service broadcast) are on our side, making sure we never wake up.

    Trump’s Tax Scandal – Who Cares?

    https://www.bbc.co.uk/programmes/w3cswgfk

  44. denk says:

    Strictly for ‘conspiracy nuts’.

    The 5lies….

    O, what a tangled web we weave when first we practise to deceive!

    https://truthandshadows.wordpress.com/2014/11/08/canadas-false-flag-terror-fingerprints-of-u-s-involvement/#more-2202

  45. Antiwar7 says:

    All those newspapers always sucked, as far as foreign policy goes. Where is the evidence that they were ever any good?

  46. alexander says:
    @Agent76

    Love the visualization.

    And here comes the 20 trillion dollar question.

    “If the American people were “LIED INTO WAR” and, as a result , our nation is now 21 trillion dollars in debt, on whom should the burden of the cost be shouldered…..The LIARS or…. The LIED TO ?

    Shouldn’t all those who participated in this defrauding be forced to pay its cost ?

    If not, why not ?

    Isn’t “lying us into war” the greatest form of “taxation without representation” there is ?

  47. alexander says:

    Mr Petras,

    I just watched Stephanie Kelton try to explain deficit spending to Jimmy Dore on the “Jimmy Dore Show”.

    On the most key issue, she misses the boat by a country mile

    What Ms. Kelton does NOT understand, is that every PENNY the government “prints” today, to pay for our “overspending” ….is BORROWED from future generations of Americans..Which is exactly why every penny of “overspending” gets recorded and rolled into our NATIONAL DEBT.

    She actually believes that when our government “prints” money…they actually “CREATE ” the money…out of thin air.

    This is total fraud.

    ….EVERY PENNY the Government “prints”..is borrowed from our “future”.

    Our national debt is the amount of money we owe future generations for all the overspending we do today.

    Nothing more, nothing less.

    Do I believe the federal government should have the right to “overspend” what it takes in per year in taxes…..Absolutely….but only on the terms satisfactory to the American People…and no one else.

    Here’s an example.

    let us say Hurricane Michael was five times as powerful as it was…and created a Tsunami which wiped out half the eastern seaboard…..

    The federal government is called upon to help out in this catastrophe…to allocate 650 billion in emergency funds…to help those areas clean up, rebuild, and get back to work…

    It has two choices…it can demand a tax increase of every American citizen, right away, of $2000.00, or it can print the money, borrowing it from our future, and defray the cost of the clean up over twenty years…..this allows the current economy to remain on an “even keel” without imposing a “tax shock” to consumers, homeowners or capital investment….

    This is smart stuff, and the American People think so too….which is why we do it.

    But the government cannot just print money out of thin air..(Ms. Kelton is full of Sh#T when she says so)..Every dollar it prints..is a dollar borrowed from our future.

    And that is a fact.

  48. ‘…The US and EU annexation of Eastern Europe, the Balkan and Baltic states led to the deep corruption and decay of journalistic narratives…’

    The end. That’s the sort of indefensible hyperbole that lets me know I may now stop reading.

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