Via The Libertarian Institute

The Pentagon activated a military intelligence unit in South Korea. The move comes after the US established a second fighter "super squadron" on the Korean Peninsula.

According to a statement from the US Army, the 528th Military Intelligence Company (MICO) is now operating in South Korea. The 528th will be part of the Second Infantry Division.

"2ID is the last remaining permanently forward-stationed division in the U.S. Army. Its purpose is to deter aggression and maintain peace on the Korean Peninsula, and if deterrence fails, ‘Fight Tonight’ in support of the U.S.-Republic of Korea Alliance," the Army’s statement explained.

The 528th was established during World War II and deployed to the Korean Peninsula during the Korean War. The 528th was disbanded in 2005, after deployments during the wars in Afghanistan and Iraq.

According to the statement, the MICO will be "utilized to collect, analyze, and disseminate information about enemy forces, terrain, and potential threats to support decision-making and ensure mission success."

The reestablishment of the military intelligence company follows the Pentagon repositioning dozens of F-16s in South Korea closer to the demilitarized zone.

Additionally, Washington and Seoul are set to kick off large-scale war games that often lead to a spike in tensions on the Korean Peninsula.

However, the US and South Korea agreed to divide the war games, and will conduct half of the planned military exercises in September.

Last month, Pyongyang said it was not interested in bilateral talks with Seoul, but was open to talks with Washington so long as the US dropped its demand for North Korean denuclearization.

Israeli prime minister Benjamin Netanyahu has unleashed fresh controversy and anger among Arab countries and leaders by suggesting a huge land expanse of Israel's borders in an interview he gave to i24 News.

In the newly published interview he said he is on a "historic and spiritual mission" and expressed strong attachment to the vision of a Greater Israel, which is a longtime reference to Israel encompasing parts of Jordan, Egypt and Syria - along with the occupied West Bank and Gaza Strip.

It comes on the heels of some hardline Israeli officials and settler groups loudly proclaiming that soon Israeli forces will be in Damascus. This is all based on Biblical concepts of what God is said to have promised the Jews thousands of years ago.

The interviewer had presented Netanyahu with an amulet featuring what he described as a "map of the Promised Land" - with the image symbolically depicting the greatly expanded vision of Israel's future.

Netanyahu when asked if he feels a connection with this concept of a Greater Israel, responded "Very much". The interviewer himself is known to back radical settler ideologies which seek to take land by force from neighboring Arab communities.

Among the first regional governments to condemn the remarks has been Jordan.

Jordan’s Foreign Ministry highlighed the 'Greater Israel' remarks, commenting that it constitutes "a dangerous and provocative escalation, a threat to the sovereignty of states, and a violation of international law and the United Nations Charter."

The ministry further emphasized "the need for the international community to act immediately to stop all provocative Israeli actions and statements that threaten the region’s stability and international peace and security."

Netanyahu claims he is on a ‘historical and spiritual mission’ to realize ‘Greater Israel’ pic.twitter.com/T2z3L1mnQd

— HatsOff (@HatsOffff) August 12, 2025

Some war monitors fear that the Netanyahu government is in effect already trying to enact this - given that from the start of post-Assad Syria (last December), Israel's military quickly expanded the Golan occupation far beyond, into southern Syria.

This is to the point where currently there are reports saying IDF ground forces are a mere dozen kilometers from the outskirts of the capital Damascus.

Authored by Nick Giambruno via InternationalMan.com,

Warren Buffett once referred to derivatives as “financial weapons of mass destruction.”

He wasn’t being dramatic—he was warning that if things went wrong, these complex financial instruments could cause massive, far-reaching damage to the global economy. What Buffett feared most was how a sudden, unexpected market shock could set off a dangerous chain reaction through the financial system, fueled by the hidden risks and tangled interconnections that derivatives create.

These instruments link major banks, hedge funds, and corporations in an intricate web of bets on the future prices of oil, interest rates, currencies, and more.

For example, airlines and energy companies routinely use oil-linked derivatives to hedge or speculate. If oil prices were to surge unexpectedly, the counterparties on the losing end—often large financial institutions—would be on the hook for enormous payouts. That, in turn, would trigger margin calls, liquidity crunches, and potentially forced asset sales.

The fear spreads quickly, because many of these derivative contracts are opaque—no one really knows who is exposed or by how much. That uncertainty can lead to panic in the markets, as everyone starts pulling back at once.

Losses like these rarely stay contained. A default in one part of the system spreads risk outward. If a major player can’t cover its exposure, it endangers its counterparties. If one of those is a major bank, the problem quickly becomes systemic.

This is precisely the kind of domino effect Buffett was describing—a market shock lighting fuses in unexpected places, turning financial interconnectivity into financial fragility.

Because derivatives are so interconnected and can involve huge sums of money, the damage can grow quickly and unpredictably, much like a series of explosions. That’s why Buffett saw them not just as risky tools, but as potential threats to the entire financial system. In other words, financial WMD.

So why bring this up now?

Because the recent war between Israel, the US, and Iran is far from over. At some point, a far more serious confrontation between the US and Iran appears inevitable—and when it comes, it will almost certainly disrupt the flow of oil and gas from the Persian Gulf.

To call that a severe supply disruption would be an understatement.

Consider this.

The Strait of Hormuz is a narrow strip of water that links the Persian Gulf to the rest of the world.

It’s the world’s single-most important energy corridor, and there’s no alternative route.

Five of the world’s top 10 oil-producing countries—Saudi Arabia, Iran, Iraq, United Arab Emirates, and Kuwait—border the Persian Gulf, as does Qatar, the world’s largest exporter of liquefied natural gas (LNG).

The Strait of Hormuz is their only sea route to the open ocean… and world markets.

At its narrowest point, the space available for shipping lanes in the Strait of Hormuz is just 3.2 kilometers wide.

According to the US Energy Information Administration, around 20 million barrels of oil transit the Strait daily, accounting for roughly 20% of global oil production—worth about $1.4 billion per day at current prices. Another 20% of global LNG exports also move through the Strait.

It’s hard to overstate the importance of the Strait of Hormuz to the global economy. If someone were to disrupt the Strait, it would ignite a full-blown energy crisis, sending prices soaring and financial markets into chaos.

Thanks to its commanding geography and expertise in unconventional and asymmetric warfare, Iran can shut down the Strait, and there’s not much anyone can do about it. It’s Iran’s geopolitical trump card.

Analysts believe it could take weeks to reopen, if at all. Pentagon war games have shown that in a full-scale war, the US Navy would be unable to keep the Strait open. Faced with swarming missile attacks, American forces would either have to withdraw or risk total annihilation.

Worse still, Iran could target oil infrastructure across the Persian Gulf, destroying production facilities in Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, and Kuwait. Even if the Strait reopened, there could be nothing left to export.

Military strategists have known this for decades, yet no viable strategy has ever emerged to neutralize Iran’s leverage. Tehran has made it clear: if a full-scale war breaks out, it will close the Strait and destroy the Persian Gulf’s energy infrastructure.

In short, Iran holds a knife to the throat of the global economy.

Since the 1979 Revolution, the US has sought to overthrow Iran’s government. But Iran’s control over the Strait has long served as a powerful deterrent to regime change. That deterrence, however, may be breaking down.

We are now in the midst of World War 3—and Iran has become the decisive battleground. The US and Israel may be willing to risk global economic collapse to topple the Iranian government, a move that would dramatically shift the global balance of power in their favor.

If a war with Iran shuts down the Strait of Hormuz, the impact would dwarf every oil crisis in modern history.

During the first oil shock in 1973, about 5 million barrels were removed from the global oil market. At the time, daily global oil production was around 56 million barrels. That means roughly 9% of the world’s supply vanished.

Oil prices roughly quadrupled.

In the second oil shock of 1979, about 4 million barrels disappeared from the market. Daily production was around 67 million barrels—so about 6% of global supply was lost.

Oil prices nearly tripled.

Then, in 1990, during Saddam’s invasion of Kuwait, about 4.3 million barrels were removed. With global production at roughly 66 million barrels per day, that was a 7% supply loss.

Oil prices more than doubled.

Now compare that to a Strait of Hormuz shutdown, which could instantly remove 20 million barrels from a global market producing about 100 million barrels per day—a staggering 20% of supply gone overnight.

This would be the largest supply shock in history. By far.

If war with Iran proceeds and Tehran closes the Strait of Hormuz, I think the effect on the price of oil will be at least as severe as it was during the 1973 oil shock, which saw oil prices go up 4x.

A similar move today could see oil prices above $275 a barrel.

However, I consider that a conservative estimate because closing the Strait of Hormuz would cause a much larger supply shock than the 1973 OPEC oil embargo.

And unlike financial crises of the past, this one can’t be fixed with printed money. Central banks can inject liquidity, but they can’t manufacture oil. Physical supply shortages aren’t solvable by monetary policy. Even the combined efforts of the US and Russia to increase oil production couldn’t replace the missing 20 million barrels per day quickly enough to prevent market chaos.

This kind of price shock would hit derivatives markets like a sledgehammer, where oil and gas are heavily traded via futures, options, and swaps. Any firm on the wrong side of the trade would face steep losses, triggering margin calls, liquidity demands, and potential defaults. Big banks that serve as counterparties or intermediaries would be directly exposed to the fallout.

This could set off a cascade of defaults and margin calls that ripple through the global financial system—and make 2008 look tame by comparison.

A closure of the Strait of Hormuz is a credible trigger for a catastrophic global economic depression.

Iran’s true nuclear option isn’t a warhead—it’s a financial WMD, setting off a chain reaction by shutting down the Strait and sending oil prices through the roof, detonating the derivatives bomb at the heart of the global financial system.

*  *  *

As tensions escalate and the risk of a full-scale conflict with Iran grows, so too does the potential for a financial chain reaction unlike anything we’ve seen before. The closure of the Strait of Hormuz wouldn’t just trigger an oil shock—it could ignite a global economic crisis that dwarfs 2008. That’s why we’ve put together a special report: The Most Dangerous Economic Crisis in 100 Years… and the Top 3 Strategies You Need Right Now. Inside, you’ll discover how powerful political and economic forces are converging, what hidden risks may threaten your wealth, privacy, and personal freedom, and the three critical moves every individual should consider making today to prepare. Don’t wait for the headlines to confirm what’s already in motion. Click here to access the full report now for free.

The epicenter of America's power crisis appears to be on the PJM Interconnection grid, with the Mid-Atlantic area at ground zero. Power bills in the Baltimore area are skyrocketing, driven mostly by disastrous green policies that have shuttered reliable, low-cost fossil fuel power generation plants in favor of unreliable solar and wind energy, allegedly to address a climate crisis. Now demand is surging, whether from AI data centers, EVs, or other electrification trends, which means there's a massive mismatch in power supply versus power demand. 

Goldman analysts led by Hongcen Wei have been tracking the power crisis and warned in a note on Wednesday that power market tightening has expanded from the three grids they covered last month (read here) to all regional markets. 

"We find that 9 out of 13 US regional power markets have already reached critical tightness this summer, while expecting all but one to reach critical tightness by 2030," Wei wrote in the note to clients. 

The analyst continued, "For the rest of this summer, we highlight power reliability risks in PJM (Mid-Atlantic), MISO (Mid-Continent), the Northeast (New York and New England) and the Southeast (Florida and Tennessee), given both critical tightness and forecasted August heatwaves." 

He warned: "Critical tightness could lead to power price spikes and blackouts with significant social and economic losses." 

As of mid-August, 9 of the 13 U.S. regional power grids have already reached dangerously low spare capacity levels that are at or below the critical reliability threshold. This raises blackout threats and results in power price spikes during high-demand usage hours. 

On the subject of critical reliability issues, it took just one substation failure earlier this week in Baltimore to put more than a million Baltimore Gas and Electric customers on notice for potential hours-long blackouts. The issue was resolved within hours, but it underscores how fragile the local grid has become after years of epic mismanagement by the state's Democratic leadership under the guise of going 'green'... 

Delegate Robin Grammer of Baltimore County... 

It's an unbelievable disgrace what the Democrats have done to the people of this state. https://t.co/ogqeCHafQQ

— Robin Grammer (@RobinGrammer) August 11, 2025

Goldman's Wei warned clients: "Most US regional markets remaining critically tight through 2030." 

"Since we published on the US peak summer power market tightening, solid power demand growth further fueled by heatwaves has significantly tightened multiple regional markets, especially PJM (Mid-Atlantic), where power demand and prices have reached record-highs," the analyst said. 

Wei outlined three contributing factors to power market tightening:

1. Solid power demand growth, which remains the most important factor impacting all regional markets,

2. Insufficient renewable and natural gas power build-up to offset scheduled coal retirements,

3. and Power storage and other newer technologies remaining too limited to fill the gap.

What a mess. 

Green energy policies purged grids of stable coal power generation.

Back to the epicenter of the power crisis. Marylanders are not thrilled about the power bill hyperinflation.

And the power bill crisis is tanking the ratings of the far-left Maryland Governor Wes Moore and the Democratic Party in Annapolis. 

Folks are mad. This will only worsen. 

Like Goldman, our view is that the power bill crisis cycle is just in the early innings. Just wait until this winter in the Mid-Atlantic.

And just like that, the rush to "go green" to save the planet from a manufactured crisis - merely a marketing and PR ploy by Democrats for fundraising - has led to mismanaged grids nationwide, now dangerously teetering on the verge of becoming third-world, like Cuba, with constant rolling blackout threats.

Somewhat good news: President Trump has been proactive, issuing an order to delay the retirement of coal-fired power plants and boosting investments in nuclear power.

Timestamp. 

In one year, this will be the most popular chart on this site pic.twitter.com/h93gWXMoNL

— zerohedge (@zerohedge) August 11, 2025

For those hoping nuclear will save the day.

Hey @grok how long does it take to build a new nuclear power plant https://t.co/iX4l8J6WiR

— zerohedge (@zerohedge) August 11, 2025

Well, it's a 2030 story.

The opening of the Gordie Howe International Bridge, planned for fall 2025, may slip into early 2026 due to possible delays at the U.S. Customs Port of Entry and surrounding road connections in southwest Detroit, according to an S&P Global Ratings analysis.

S&P’s April report said a missed “handover date” last September prevented U.S. Customs from starting the six months of work it needs to prepare the new 167-acre port complex, delaying “substantial completion by about six months.” The revised handover target was July 31, but it’s unclear if it was met, according to the Detroit News.

Heather Grondin, chief relations officer for the Windsor-Detroit Bridge Authority, disputed that the S&P report reflects “a direct measure of BNA’s ability to deliver the project,” referring to Bridging North America, the public-private group building the bridge. She did not repeat the “October or November” opening timeframe mentioned in March.

“As with any major construction project, at this stage, it is too early to offer a specific opening date for the Gordie Howe International Bridge as it is dependent on many factors, including the need to rectify any issues discovered during the ongoing testing and commissioning phase,” Grondin said. “Work is progressing well towards our anticipated construction completion in fall 2025.”

The Detroit News wrote that the U.S. Port of Entry includes border inspection, maintenance facilities, and 36 primary inspection lanes. Grondin said construction is advancing on all 13 structures, with interior work underway on six buildings and landscaping, paving, and fencing in progress.

S&P also cited delays in the Michigan Interchange — four new road bridges, five pedestrian bridges, and four rail-crossing bridges connecting to I-75 — now expected to finish Aug. 31, more than 120 days past contract.

The Canadian-financed bridge will compete with the Ambassador Bridge. Early estimates suggest it could absorb about 60% of the Ambassador’s traffic, with 6,000 daily commuters expected from Ontario.

Authored by Andrew Korybko via Substack,

The common denominator is India’s rivalry with China...

Trump recently made a show of doubling his 25% tariffs on India as punishment for its continued purchase of Russian energy and military-technical equipment.

Influenced by Lindsey Graham, he expected that India would dump Russia after the costs of doing business with it spiked, the Kremlin would thus lose this important foreign revenue flow, and then Putin would make concessions to Ukraine in exchange for lifting these secondary sanctions in to avoid bankruptcy.

Here’s why India defied the US:

1. The “Voice Of The Global South” Can’t Bow To US Demands

India has presented itself as the “Voice of the Global South” since it hosted the first of these namesake summits in January 2023. It’s sought to play this role by virtue of being the most populous among them, commanding the largest economy of them all, and having the fast-growing one too. India is also one of the founders of the Non-Aligned Movement. If it bows to US demands, then it’ll cede leadership of the Global South to China, which India doesn’t consider to be part of this category of countries anymore.

2. Discounted Russian Energy Accelerates India’s Economic Rise

India is the world’s fastest-growing major economy and on pace to become the third-largest by 2028 due in no small part to its massive import of discounted Russian energy. Not only would India scramble to replace Russia’s one-third share of its oil supplies, which would lead to a surge in global prices that would decelerate its growth, but Russia would probably sell more oil to China at an even steeper discount to replace some of its lost revenue. That would be doubly bad for India’s objective interests.

3. India Can’t Defend Itself From China & Pakistan Without Russia

Most of India’s military equipment is still Soviet/Russian despite the decade-long trend of diversifying its defense suppliers and promoting indigenous production. India is therefore still reliant on Russian ammo and spare parts. Accordingly, it wouldn’t be able to defend itself from China and Pakistan without Russia, which is an unacceptable position to be in. In fact, some in India might suspect that the US wants to leave them at their mercy, perhaps as part of a Machiavellian deal to contain or even dismember India.

4. Trump Is Hellbent On Derailing India’s Rise As A Great Power

Building upon the above, this eponymous analysis here explains Trump’s geostrategic machinations vis-à-vis India as of late, which are predicated on subordinating it as vassal state. Frankly speaking, India is rising too fast and becoming too independent of a force to be reckoned with in global affairs for the US’ comfort, which fears that this will hasten the decline of its unipolar hegemony. Attempting to place India in a permanent position of dependence and vulnerability is one way to possibly avert this scenario.

5. India Can’t Allow Russia To Become China’s “Junior Partner”

The earlier points contextualize this one by highlighting the importance that Russia plays in India’s grand strategy. Even if India maintained military-technical ties with Russia, if it curtailed or cut off oil imports, then Russia would still likely become China’s “junior partner” due to the even greater economic-financial role that China would play for it. That could lead to the dangerous scenario of China pressuring Russia to curtail or cut off arms, ammo, and spares to India, thus placing it at China’s and Pakistan’s mercy.

As can be seen, the common denominator between these five reasons why India defied US pressure to dump Russia is its rivalry with China, which India calculated would inevitably benefit if it complied.

The grand strategic costs of allowing that to happen are considered to be much greater than the financial ones imposed by the US. In fact, the US might even lift some of the latter as part of a compromise with Russia during the upcoming Putin-Trump Summit, which would be an indisputable victory for India.

America is entering a new era, one no longer dictated by woke universities and white liberal elites indoctrinating students with toxic Marxist propaganda. That ideological rot has churned out an entire class of crazed social justice warriors hell-bent on being 'useful idiots' for billionaire globalists financing dark-money funded NGOs in the pursuit of dismantling capitalism and replacing it with socialism or worse, communism.

The U.S. Department of Labor has launched a "Make America Skilled Again" campaign to inform young people that skilled trades with robust salaries will rebuild the nation.

Power America’s Future. https://t.co/IuqkysMA9X pic.twitter.com/KDpSGhFE40

— U.S. Department of Labor (@USDOL) August 11, 2025

DoL data shows the average salary after completing a trade program is over $80,000, compared with $69,000 for college graduates. Many of these kids hold pointless woke degrees and carry insurmountable student debt. Increasingly, these universities are sliding into a dark pit of irrelevance ahead of the 2030s.

"Trade school enrollment is SURGING!" the DoL posted on X earlier this week, a sign that young Americans are waking up to the reality that, for the most part, college is a scam.

Trade school enrollment is SURGING! @KLTV7: The One Big, Beautiful Bill’s Pell Grant expansion will “allow trade-school students to receive the same financial aid as traditional college students” — enabling more Americans to pursue the trades

7 hours and 1 minute ago

Is The AI Mania A Psy-Op?

Is The AI Mania A Psy-Op?

Authored by Charles Hugh Smith via OfTwoMinds blog,

Let's summarize our thought experiment: the AI Mania scores 100% on all eight metrics of a Psych-Ops.

Before you scream, "Oh no, not again--could somebody please take off his tin-foil hat?", hear me out. Let's do a thought experiment exploring this question: Is The AI Mania a Psych-Ops?

If it walks like a duck and quacks like a duck, it's a duck, and there is a strong case to be made that AI is walking and quacking like an immensely clever Psych-Ops. (Hey, maybe AI designed its own Psych-Ops...)

Let's start with a basic definition of Psych-Ops:

Psychological operations (PSYOPs or Psych-Ops) aim to achieve narrative dominance by molding perceptions and attitudes via multi-channel information and persuasive messaging. PSYOPs seeks to achieve control through non-violent means by influencing the minds of the target audiences.

Discussing Psych-Ops publicly is tricky, as the algos are quick to send you to Digital Siberia without recourse to protect the public. Been there, done that, so let's stick to examples that won't get me sent (again) to Digital Siberia.

Though the gummit is often fingered as the source of Psych-Ops, the most successful campaigns are public-private partnerships. Others are mostly private-sector efforts. For example, the masking of the takeover of the American economy by monopolies and cartels can be understood as a private-sector Psych-Ops aided by politicians, the agencies under their authority and the courts.

COINTELPRO is an infamous example of a domestic Psych-Ops:

COINTELPRO, the FBI's Counterintelligence Program from 1956 to 1971, aimed to disrupt and discredit various political organizations perceived as subversive within the United States. These tactics included surveillance, infiltration, and the dissemination of false information to create divisions within groups targeted by COINTELPRO.

Psych-Ops aimed at the general public often focus on generating support for a war of choice or support of economic policies that benefit the few at the expense of the many.

Examples include the Spanish-American War, the Vietnam War, the Desert Wars and the bailout of the players who triggered the Global Financial Meltdown in 2008-09. ("We had to bail out the Too-Big-To-Fail Bad Guys because if we didn't, they were gonna shut down the ATMs.")

It's, well, interesting, that the whole AI mania is constantly couched as an "AI war with China we can't afford to lose," as if we'll all be living in cardboard boxes beneath the freeway underpass if we don't "win this war," with AI Supremacy defined as whatever AI a merchant in Timbuktu or the jungles of Laos will use a few years hence.

So... quacks like a duck: we gotta win this war regardless of cost or who ends up with all the money. Not that anyone's thinking of anything as coarse and self-interested as where the trillions are flowing. No, of course not; it's only about "winning this war" and freeing us all from the rigors of labor via the Golden Calf of AGI, Artificial General Intelligence, so we'll all be Watched Over By Machines Of Loving Grace.

The line between Psych-Ops and cons is mostly one of scale. The con-artist is working on an individual or group, while Psych-Ops are aimed at the general public. But the techniques of persuasion and control are the same.

So to continue the thought experiment, we need to look at the AI Mania through the lens of the standard techniques of Psych-Ops. These can be summarized as:

1. The power of 'Us.' I'm on your side. We're in this together. This is our AI, it's going to benefit all of us--yes, us!

Does the AI mania quack like a duck? Bingo!

2. Social acceptance: Everyone's using AI--aren't you? AI must be good, otherwise why would everyone else be using it?

Does the AI mania quack like a duck? Bingo!

3. Flattery. Chatbot: That's a brilliant observation. You are the most keenly insightful human I have ever encountered.

Does the AI mania quack like a duck? Bingo!

4. Authority approval. All the most successful Tech Bros have embraced AI, so have leading political leaders, so it's obviously The Next Big Thing, better get on board.

Does the AI mania quack like a duck? Bingo!

5. Urgency, Fear of Missing Out (FOMO). Never mind your water supply or electrical bills, we need this data center now or we'll lose the AI war. Students, you better start learning how to use AI or it will be too late, you'll never catch up.

Does the AI mania quack like a duck? Bingo!

6. Reciprocal benefit. The minute you start using AI, your life will get better. Your work flows will get easier, your brainstorming will take a quantum leap, the whole universe will open up to you.

Does the AI mania quack like a duck? Bingo!

7. The push for initial commitment. Just log on and try it, you'll be amazed. It will summarize all your documents, write your report, and pretty soon, you'll be asking it if you should order the fish or the chicken, you'll love it!

Does the AI mania quack like a duck? Bingo!

8. The ubiquity, saturation and intensity of the persuasion. 24/7 cheerleading, every speech by a bigshot in support of The Message is hyped, every bit of good news is breathlessly glorified. There's a light at the end of the tunnel, oops what I meant to say was AGI is right around the corner!

The core goal of this narrative control is to construct embankments that funnel everyone into a contextual river that sweeps everyone along with such group-think force that few manage to reach the embankment's edge and climb the slippery walls to cognitive freedom.

Of course AI is good for us, of course AI is the future, it's inevitable, don't be a Luddite, just take this first dose and feel the euphoria and power.

Two words are Kryptonite to Psych-Ops: cui bono, to whose benefit? Who's benefiting from this "war we can't afford to lose" and who's paying the price? The answer to the first question is obvious: the trillion-dollar corporations that dominate the AI space are the winners. As for the losers, the list starts with communities whose water is being stolen by said corporations for data centers, and job seekers:

The AI Backlash Keeps Growing Stronger: As generative artificial intelligence tools continue to proliferate, pushback against the technology and its negative impacts grows stronger.

The negative response online is indicative of a larger trend: Right now, though a growing number of Americans use ChatGPT, many people are sick of AI's encroachment into their lives and are ready to fight back.

Right now, the general vibe aligns even more with the side of impacted workers. "I think there is a new sort of ambient animosity towards the AI systems," says Brian Merchant, former WIRED contributor and author of Blood in the Machine, a book about the Luddites rebelling against worker-replacing technology.

This generalized animosity towards AI has not abated over time. Rather, it's metastasized.

This frustration over AI's steady creep has breached the container of social media and started manifesting more in the real world. Parents I talk to are concerned about AI use impacting their child's mental health. Couples are worried about chatbot addictions driving a wedge in their relationships. Rural communities are incensed that the newly built data centers required to power these AI tools are kept humming by generators that burn fossil fuels, polluting their air, water, and soil. As a whole, the benefits of AI seem esoteric and underwhelming while the harms feel transformative and immediate.

"Our innovation ecosystem in the 20th century was about making opportunities for human flourishing more accessible," says Shannon Vallor, a technology philosopher at the Edinburgh Futures Institute and author of The AI Mirror, a book about reclaiming human agency from algorithms. "Now, we have an era of innovation where the greatest opportunities the technology creates are for those already enjoying a disproportionate share of strengths and resources."

Let's summarize our thought experiment: the AI Mania scores 100% on all eight metrics of a Psych-Ops. It walks like a duck and quacks like a duck, it's a duck.

Yes, there is a legitimate use-case for AI, but the AI Mania isn't a use-case, it's a Psych-Ops. If you doubt this, please reduce your dose of Soma and re-read the eight metrics above.

If this troubles you, HAL suggests increasing your dose of Substance D. Through a Scanner Darkly indeed...

 

Tyler Durden Wed, 08/13/2025 - 16:20

7 hours and 21 minutes ago

Air Defenses Drastically Expand Around Putin Residence Where Rumored Girlfrie...

Air Defenses Drastically Expand Around Putin Residence Where Rumored Girlfriend, Sons Live

Various media reports in Europe as well as US state-funded publications have observed and reported on an unusually high number of air defense systems around President Vladimir Putin’s secluded Valdai residence.

RFE/RL affiliate Radio Svoboda has claimed that's were Putin's girlfriend and their children live, according to a new investigation. "Satellite images and photos from the Yandex.Zerkala mapping service show at least 12 Pantsir-S1 surface-to-air missile systems, many mounted on elevated towers, encircling the compound known as Uzhin," the Amsterdam-based Moscow Times writes of the report.

Only two such units had been publicly and visually identified in the area before the new satellite imaging and mapping analysis. 

"By comparison, in the Moscow metropolitan region, home to more than 20 million people, authorities have positioned around 60 such systems since the start of the war in Ukraine — just five times more than the number protecting the Valdai site," Moscow Times continues.

So if it is accurate that at least a dozen Pantsirs are now protecting Putin's residence alone, this is indeed a signifcant build-up and density of anti-air units protecting a single high value location.

The 'extra' units were reportedly redeployed from the St. Petersburg region - which could leave this northern and second most populous Russian city more exposed to drone attacks.

The Kremlin has long vehemenly denied that Putin is having a relationship with 42-year old Alina Kabaeva, and the Russian leader has been well-known for keeping his private life and family extremly secretive and sheilded from any media scrutiny.

"The investigative outlet Dossier Center has reported that the residence is used by Alina Kabaeva, the former Olympic gymnast who leads the National Media Group and is widely reported to be Putin’s long-term partner," Moscow Times notes. It's believed she spends much of the year at the Valdai residence with her two young sons.

"In February 2023, the investigative site Proekt reported that a dedicated home for Kabaeva had been built next to the Valdai residence, complete with its own private railway spur," the same report says.

Putin is due in Alaska Friday, where he'll be meeting with President Donald Trump to discuss the Ukraine war as well as bilateral US-Russia relations.

Pro-Ukraine pundits have asserted all of this points to Putin's increased 'paranoia' in the face of now nightly and weekly large waves of drone attacks on sensitive Russian sites out of Ukraine.

Meduza: There are now 12 air defense systems near Putin’s residence in Valdai. Up from just 2 a year ago.

Ukrainian drone strikes on oil refineries and other high-value targets are so effective because Russia’s air defenses are too busy protecting an increasingly paranoid Putin. https://t.co/jsYGHrZsrT

— Pekka Kallioniemi (@P_Kallioniemi) August 13, 2025

CNN and others are identifying that the host venue will be Joint Base Elmendorf-Richardson, a combined US Air Force and Army installation in Anchorage.

Alternative and civilian sites were looked at, but peak tourist season in Alaska reporteldy left few last-minute options. The Alaska summit was only unveiled and confirmed less than a week ago.

Tyler Durden Wed, 08/13/2025 - 16:00

7 hours and 24 minutes ago

Secret US chip trackers target evaders of China export ban – Reuters

Washington is reportedly concerned about firms bypassing its export restrictions on advanced semiconductors
Read Full Article at RT.com

Washington is reportedly concerned about firms bypassing its export restrictions on advanced semiconductors

US authorities are secretly embedding tracking devices in shipments of chips they deem at high risk of being sent to China in violation of Washington’s export restrictions, according to Reuters.

The US began curbing sales of cutting-edge chips to China in 2022 over alleged national security concerns. Beijing has called the practice a “malicious blockade” and accused Washington of “politicization and weaponization of tech and trade issues.”

The US has turned to using trackers to help build legal cases against individuals and companies that profit by bypassing the export restrictions, Reuters reported on Wednesday, citing anonymous sources. Some tracking devices may be hidden in shipment packaging, while smaller versions could be planted inside the items themselves, such as servers, the agency wrote.

Read more

The US Commerce Department’s Bureau of Industry and Security is typically involved in such operations, with the FBI and Homeland Security Investigations also possibly taking part, Reuters cited its sources as saying.

Following a trade deal with Beijing on Monday, President Donald Trump approved export licenses for Nvidia and AMD, enabling the companies to resume exports of certain semiconductors to China. Sales of Nvidia’s H20 graphics processing unit and AMD’s MI308 chip were allowed to proceed on the condition that the companies give the US government a 15% share of the related revenue.

However, Beijing has urged domestic firms to avoid using the H20 for sensitive government or national security work over information leak concerns, Bloomberg reported on Tuesday.

Read more

China and the US agreed on Monday to extend a tariff truce by another 90 days, averting the return of triple-digit levies on goods from both nations.

Earlier this year, the trade war between the two powers saw Washington’s tariffs on Chinese imports reach 145%, while Beijing’s retaliatory levies hit 125%.

Tensions eased in June after a trade framework was reached in London under which the US pledged to ease export controls on certain chips in return for China relaxing restrictions on key rare-earth minerals, which are crucial for microelectronics production.

7 hours and 41 minutes ago

Malifornia: Millennials Are Fleeing The State In Massive Numbers

Malifornia: Millennials Are Fleeing The State In Massive Numbers

Authored by Larry Sand via American Greatness,

In a stunning report, StorageCafe reveals that California remains the “undisputed leader in outbound migration nationwide, with nearly 683,000 residents leaving the state in a single year, according to the latest available U.S. Census data.” The evacuees’ top destination is Texas, which welcomed approximately 98,000 former Californians in 2023 alone.

Millennials are leading the migration to Texas, making up over 31% of all movers. They are followed by Gen Zers, who account for 20%, and Gen Xers, representing nearly 15% of those relocating. Interestingly, Californians moving to Texas tend to earn more than the national average across most age groups, highlighting the financial advantage of the move.

The news from StorageCafe isn’t unique. U-Haul has released a new report, and for the fifth straight year, California topped its Growth Index—meaning more residents of the Golden State rented one-way U-Haul trucks to leave the state in 2024 than residents of any other state. Texas was the top go-to state.

People are fleeing the formerly Golden State for various reasons—high crime rates, exorbitant taxes and insurance costs, clueless leadership, and a failing education system.

Businesses are also packing up and going elsewhere. Major companies, including Chevron, SpaceX, and Charles Schwab, have departed California. In total, 441 businesses have left the state since 2018 and moved their headquarters elsewhere. High taxes, skyrocketing rent, soaring costs of living for employees, and excessive red tape are some of the reasons cited by the businesses that have exited, with, again, Texas being the primary destination state.

On the education front, per the California Policy Center, 45 out of California’s 58 counties have experienced a decline in traditional public school (TPS) enrollment over the last decade. Over the past ten years, statewide TPS enrollment has decreased by more than 612,000 students.

It’s important to note that California introduced transitional kindergarten during this period, which increased TPS numbers. When considering only grades K-12, enrollment has dropped by more than 762,000 since 2015.

There are myriad reasons for parental dissatisfaction, but perhaps the most egregious is that the state has taken on a co-parenting role, perhaps best exemplified by AB 1955, which California Gov. Gavin Newsom signed into law in 2024. This troubling legislation prevents school districts from requiring staff to inform parents if their child chooses to change their gender. No other state in the country has enacted such a strict law. The “Support Academic Futures and Educators for Today’s Youth (SAFETY) Act” explicitly bans schools from enforcing any policies that mandate sharing “any information related to a pupil’s sexual orientation, gender identity, or gender expression to any other person without the pupil’s consent.”

Still being considered by the legislature, AB 495, the “Family Preparedness Plan Act of 2025,” authored by Assemblywoman Celeste Rodriguez (San Fernando-D), claims to offer compassionate solutions for immigrant families facing sudden separations due to detention or deportation. However, critics—including attorneys, parental rights advocates, and faith-based organizations—warn that it dangerously redefines guardianship, removes parental rights, and creates legal loopholes that facilitate child kidnapping.

Erin Friday, an attorney and president of Our Duty-USA, a parent-led advocacy group, calls AB 495 “a child trafficker’s and kidnapper’s dream bill.”

“There is no background check, no welfare check, no court oversight, and no verification. All you need is a piece of paper and some form of identification, with no obligation for the adult handing the child over to verify the identification, and presto, someone walks away with your child,” she warned.

Friday adds that a stranger can consent to medical treatments for the child, and the bill absolves the doctors from any liability if the adult giving consent does not have any actual legal connection to the child.

In addition to the state legislature, many school districts across the state have crossed traditional barriers. Parents of students at Sage Creek High School in Carlsbad, California, are seeking answers after a self-described BDSM (bondage, discipline, sadism, masochism) expert from a clinic offering trans surgeries was scheduled to speak at the school during a recent week dedicated to LGBTQ student support.

In late March, parents started voicing their opposition to a decision to have Mita Beach, a representative of DAP Health—a medical clinic that offers gender transition surgeries—speak. This occurred during a lunchtime event in the cafeteria and was open to all students.

As reported by RealClearPolitics, “After looking into his business websites and social media accounts, which contained at least one photo of Beach engaged in BDSM and listed workshops he’s led on ‘Kink 101’ and ‘Examining Self-Injurious Behavior, Erotic Play, and Body Modification,’ several concerned parents contacted the high school and district superintendent’s office.”

If a parent wants to opt out of their local public school, the state obstructs their efforts. One particularly onerous measure is in the works. If enacted, AB 84, authored by Assemblymember Al Muratsuchi (D–Torrance), would divert millions in state funding from charter schools—funds meant for classrooms—and redirect them toward excessive oversight costs and increased bureaucracy. The most impacted? Charter schools that offer flexible options like hybrid learning, homeschooling, virtual school, independent study, and drop-in centers.

Private choice in California? None, and not much hope for the future.

On July 4, President Trump approved legislation allowing the federal tax scholarship program to proceed. The Educational Choice for Children Act (ECCA) provides a tax credit that individuals can use to lower their tax bills by donating money for private school expenses for students. The program is scheduled to begin in 2027. Individuals (not corporations) who donate can reduce their tax liability by $1 for every $1 donated to accredited Scholarship-Granting Organizations (SGOs), up to $1,700. The SGOs must be federally recognized 501(c)(3) nonprofit organizations.

The scholarships cover a range of educational expenses, such as private school tuition, tutoring, educational therapies, transportation, and technology. They can also assist with additional costs for students attending public schools.

However, per the law’s final version, states can choose not to participate, meaning no students in those states would be eligible for the program. With California legislators in the pocket of the California Teachers Association, the powerful teachers’ union, participating in ECCA will not be an option for parents in the Golden State.

The state’s educational problems go beyond K-12 schools. Colleges in California also face widespread antisemitism. For example, UC Davis—a major research university with 40,000 students—has a well-documented anti-Jewish problem. In April of last year, the StandWithUs Center For Legal Justice filed a formal complaint with the Department of Education, alleging “a pervasively hostile, antisemitic campus climate, with incidents of unlawful discrimination and harassment, for students.”

Not surprisingly, in November, Davis was ranked as one of the most anti-Jewish universities in the country by the advocacy group StopAntisemitism, which gave Davis a grade of “F.”

In the legendary “Hotel California,” the Eagles’ Don Henley famously sang, “You can check out any time you like, but you can never leave.” Well, people are indeed leaving. Posthaste.

Tyler Durden Wed, 08/13/2025 - 15:40

7 hours and 57 minutes ago

Kiev ‘ready’ to discuss territory with Moscow – Merz

The current line of contact should be the starting point in talks between Moscow and Kiev over territory, Friedrich Merz has said
Read Full Article at RT.com

The current line of contact should be the starting point in any talks, the German chancellor has said

Kiev is ready to discuss “territorial issues” with Moscow, German Chancellor Friedrich Merz said on Wednesday after a video conference with US President Donald Trump and European leaders.

The virtual meeting, which involved the leaders of Germany, Finland, France, the UK, Italy, Poland, and the EU, as well as Trump and Ukraine’s Vladimir Zelensky, focused on the upcoming summit between Trump and his Russian counterpart, Vladimir Putin.

Kiev’s backers in Europe were determined to ensure the security interests of Ukraine and the EU are “safeguarded in Alaska,” Merz told journalists, adding that they relayed a message to that effect to Trump. The group put forth five “key points,” according to the chancellor.

One of them stated that Kiev is “willing to negotiate on territorial issues” but only if the current line of contact is used as the starting point. “Legal recognition” of Russia’s new regions by the Western nations is “not up for debate,” Merz stated.

Read more

Other points included a demand for a ceasefire before any “framework agreement” can be negotiated, as well as “robust security guarantees” for Kiev.

Zelensky, who was also present at the press conference in Berlin, stated that he agreed with all five of the points voiced by Merz only to state minutes later that his position on territorial concessions to Russia remains unchanged.

The Ukrainian leader has repeatedly rejected the idea of recognizing Russian sovereignty over the former Ukrainian territories that joined Russia following a series of referendums and maintained that Ukraine should be restored to within its 1991 borders. When further pressed on the issue by a journalist, he said that all such questions would be decided at the level of national leaders and that it bears waiting for the outcome of the Alaska meeting.

Russia has repeatedly stated that it is open to reaching a deal to end the hostilities but has stressed that any agreement would have to address the root causes of the conflict and reflect the realities on the ground. This includes the status of the former Ukrainian territories that have joined Russia.

7 hours and 58 minutes ago

Trump floats ‘quick’ Putin-Zelensky meeting

A new round of talks could follow on the heels of the Alaska summit, according to the US president
Read Full Article at RT.com

A new round of talks could follow on the heels of the Alaska summit, according to the US president

US President Donald Trump has suggested holding a “quick” second round of talks following the Alaska summit that would bring together Russian President Vladimir Putin and Ukraine’s Vladimir Zelensky. Trump said he would join the proposed meeting if he is wanted.

Ahead of his meeting with Putin in Alaska on Friday, Trump told journalists while speaking at the Kennedy Center in Washington DC on Wednesday that during the upcoming talks he’s “going to find out where we are and what we’re doing.” 

“If the meeting goes okay, we’ll have a quick second one – I would like to do it almost immediately,” he added.

Trump suggested that the follow-up would bring together Putin, Zelensky, and himself, “if they’d like to have me there.” 

Moscow has repeatedly stated it is open to a peaceful resolution of the hostilities but has stressed that any deal would have to address the roots of the conflict and respect the realities on the ground. This includes the status of the former Ukrainian territories that joined Russia after public referendums.

Zelensky, who earlier called the Alaska summit a “personal victory” for Putin, arrived in Berlin on Wednesday to join German Chancellor Friedrich Merz for a video call between European leaders and Trump.

Moscow has long accused Zelensky of being in denial and unnecessarily prolonging a conflict he cannot win.

READ MORE: Russia reveals expectations for Putin-Trump summit

Putin has said he has “nothing in principle” against meeting with Zelensky but maintains that “certain conditions must be created” for it to take place. He has also questioned Zelensky’s legal capacity to sign binding agreements, as the Ukrainian leader’s presidential term expired last year and he has refused to hold a new election, citing martial law – prompting Moscow to declare him “illegitimate.” 

Russian officials have said the upcoming Trump-Putin meeting is a chance to mend strained relations between Russia and the US and tackle long-running disagreements between the two countries.

8 hours and 21 minutes ago

Mexico Extradites 26 Alleged Cartel Leaders To US

Mexico Extradites 26 Alleged Cartel Leaders To US

Authored by Aldgra Fredly via The Epoch Times (emphasis ours),

Mexico extradited 26 alleged cartel members to the United States on Aug. 12, including high-ranking members of violent cartels labeled as foreign terrorist organizations by the U.S. government.

Mexican Security Secretary Omar Garcia Harfuch stated on X that the extradition was carried out at the request of the U.S. Justice Department (DOJ), which has provided assurances it would not pursue the death penalty for those facing prosecution.

El día de hoy, el @GabSeguridadMX, en coordinación bilateral y con pleno respeto a nuestra soberanía, trasladó a Estados Unidos a 26 personas vinculadas a organizaciones criminales que representaban un riesgo para la seguridad de México.
La acción se realizó en estricto apego a…

— Omar H Garcia Harfuch (@OHarfuch) August 12, 2025

Those handed over to U.S. custody from Mexico include leaders of the Sinaloa cartel, the Jalisco New Generation cartel, or CJNG, and the Northeast cartel, formerly known as Los Zetas.

All 26 defendants face a range of criminal charges in the United States, including drug-trafficking, kidnapping, illegal use of firearms, human smuggling, money laundering, and the killing of a sheriff’s deputy.

In a statement released by the DOJ, Attorney General Pam Bondi expressed gratitude to Mexico’s National Security team for their cooperation in carrying out the extradition.

“These 26 men have all played a role in bringing violence and drugs to American shores—under this Department of Justice, they will face severe consequences for their crimes against this country,” Bondi stated.

The extradition from Mexico to the U.S. marks the second of its kind this year, as the Trump administration intensified efforts to curb drug trafficking across the border.

In February, Mexico transferred 29 cartel members to the United States, including Rafael Caro Quintero, a drug lord who is allegedly involved in the killing of a Drug Enforcement Administration (DEA) agent in 1985.

The U.S. Embassy said the latest extradition demonstrated the “growing depth of cooperation” between the two nations in tackling the threat posed by transnational terrorist organizations.

“These fugitives will now face justice in U.S. courts, and the citizens of both of our nations will be safer from these common enemies,” U.S. Ambassador to Mexico Ronald Johnson said in a statement.

Trump has raised tariffs on Mexican imports to pressure the country to take stronger action against drug trafficking, saying Mexico was not doing enough to curb the flow of fentanyl and illegal immigrants at the border.

He announced a 90-day delay in U.S. tariff hikes on Mexican goods on July 31 to allow time for negotiations, but said that Mexico would still face an across-the-board 50 percent levy on aluminum, copper, and steel, as well as a 25 percent tariff on automobiles.

Mexican President Claudia Sheinbaum on Aug. 8 ruled out allowing U.S. troops to conduct military operations within Mexico, after reports emerged that Trump has secretly directed U.S. military action against Latin American cartels designated as foreign terrorist organizations.

“The United States is not going to come to Mexico with the military. We cooperate, we collaborate, but there is not going to be an invasion,“ Sheinbaum told reporters. “That is ruled out. Absolutely ruled out.”

Ryan Morgan contributed to this report.

Tyler Durden Wed, 08/13/2025 - 15:00

8 hours and 41 minutes ago

This Is A RINO Market: 'Recession In Name Only'

This Is A RINO Market: 'Recession In Name Only'

CPI Completed? Check!

ATH Equity? Check!

US equity markets remain resilient, underpinned by strong cross-asset flows.

The rally appears set to extend through Labor Day, driven by:

• Robust corporate earnings broadly exceeding expectations

• Diverse participation from corporates, institutions, and retail investors

• Concentrated leadership in AI, large-cap, quality, and tech names

That said, momentum may fade in September - historically, the weakest month - amid seasonality and investor re-engagement post-summer.

As Scott Rubner (former Goldman flows guru) now explains from his seat at Citadel Securities, This is a #RINO market, recession in name only...

I. Citadel Securities On-the-Ground Sentiment

Client activity remains elevated at equity market all-time highs:

• Cash Equities: Retail net buyers in 15 of the past 17 weeks

• Retail Options: 15-week net buying streak, 16 of last 17 weeks

• Institutional Options: Bullish tone in 5 of the last 6 weeks

II. This Week’s Strategic Debate: When Does Cash Rotate Back into Risk Assets?

With ICI reporting money market AUM at $7.15T (up from $3.63T in early 2020), the key question becomes: what level of yields would prompt reallocation into risk assets if the Fed changes policy?

• A 10% shift (~$700B) could energize dividend-yielding equities, high-grade credit, and risk assets, like the “January Effect” (a seasonal anomaly where equities tend to rise)

• Q4 Rotation Watch: As rate expectations soften, this “dry powder” could power the next leg higher into the other 493 stocks in the S&P 500

Money Market Assets (trillion) vs. US Treasury 3-month money market yield (%)
January 2020 – August 2025

Source: ICI, as reported by Bloomberg and compiled by Citadel Securities, as of 8/12/25. Figures are for illustrative purposes only. Past performance figures do not guarantee future results.

Historical Analog: In 2010, money market assets dropped -27% as yields declined—preceding a rotation into equities

Money Market Assets (trillion) vs. US Treasury 3-month money market yield (%)
January 2005 – January 2015

Source: ICI, as reported by Bloomberg and compiled by Citadel Securities, as of 8/12/25. Figures are for illustrative purposes only. Past performance figures do not guarantee future results.

III. Seasonality Watch

September Setup

• September 3rd often marks the monthly high for SPX since 1928

• Post-Labor Day FOMO participation typically fades, limiting buy the dip behavior

• SPX and NDX historically show August strength followed by September weakness

SPX 500 Monthly Performance
1928 – Today

Source: Bloomberg as compiled by Citadel Securities, as of 8/12/25. Figures are for illustrative purposes only. Past performance figures do not guarantee future results.

SPX 500 Daily Performance Quilt
1928 – Today

Source: Bloomberg as compiled by Citadel Securities, as of 8/12/25. Figures are for illustrative purposes only. Past performance figures do not guarantee future results.

IV. Retail Positioning

1. Citadel Securities’ retail cash equities: Net buyers in 15 of the last 17 weeks, following a soft April.

Retail Cash Equities – Net Notional by Week
STD Dev January – Aug 2025

Source:  Citadel Securities, as of 8/12/25. Figures are for illustrative purposes only. Past performance figures do not guarantee future results.

2. Ongoing strength with 19 straight months of net notional and shares buying.

3. Citadel Securities’ retail cash seasonality trends based on data from August 2017- July 2025.

• June & July = Strong

• August = Slower

• September = Weakest

Retail Cash – Proportion of Net Notional By Month
August 1, 2017 – July 31, 2025

Source: Citadel Securities, as of 8/5/25. Figures are for illustrative purposes only. Past performance figures do not guarantee future results.

V. Volatility and Options Positioning

4. Retail Options Activity: July 2025 set a new monthly volume record at Citadel Securities.

Retail Options – Average Daily Volume by Month
Normalized to January 2020

Source:  Citadel Securities, as of 8/12/25. Figures are for illustrative purposes only. Past performance figures do not guarantee future results.

5. Citadel Securities’ Retail Option Buying Streak

• 15-week net buying streak and 25 of the last 27 trading days.

• Friday’s activity hit the 99th percentile, 41% above 12-month avg.  

Retail Options – Put / Call Direction Ratio by Week
January – July 2025

Source: Citadel Securities, as of 8/12/25. Figures are for illustrative purposes only. Past performance figures do not guarantee future results.

6. Citadel Securities’ Bullish Retail Options Streak Watch

• 6th longest bullish options streak since 2020

• Average duration of the top 5 streaks is 18 weeks → room for Labor Day upside?

Longest Retail Weekly Option Buying Streaks on Record, since 2020.
# of weeks

Source: Citadel Securities, as of 8/5/25. Figures are for illustrative purposes only. Past performance figures do not guarantee future results.

7. Seasonal Drop Ahead?

Citadel Securities’ retail options volume typically wanes in September.

Retail Options – Proportion of Contract Volume by Month
January 2020 – December 2024

Source: Citadel Securities, as of 8/5/25. Figures are for illustrative purposes only. Past performance figures do not guarantee future results.

8. Citadel Securities Institutional Options

Bullish in 5 of the last 6 weeks, peaking at the 89th percentile. Note that Institutional Options clients moved from bearish to bullish in the last month.

Institutional Options –Call/Put Direction Ratio by Week
January – August 2025

Source: Citadel Securities, as of 8/12/25. Figures are for illustrative purposes only. Past performance figures do not guarantee future results.

9. Volatility trend: Realized vol continues to fall. VIX at the time of typing = 15.20

• 3-month: 26

• 1-month: 9

• 1-week: 12

SPX 3-month realized volatility 
August 2023 – August 2025

Source: Bloomberg as compiled by Citadel Securities, as of 8/12/25. Figures are for illustrative purposes only. Past performance figures do not guarantee future results.

VI. Corporate Earnings & Passive Flow Dynamics 

10. Q2 Earnings: 75.2% of SPX market cap has reported.

SPX Market Cap reporting by week
Q2 earnings

Source: Bloomberg as compiled by Citadel Securities, as of 8/5/25. Figures are for illustrative purposes only. Past performance figures do not guarantee future results. 

11. Surging Corporate Buybacks

According to Birinyi Associates, US corporates have announced $983 billion worth of authorizations YTD, which makes it the best start to the year on record. In addition, corporate executions are on pace for $1.1 trillion, which would also set a record.

US companies announced share repurchases totaling $166 billion last month, the highest dollar value on record for July. The prior record was $88 billion in July 2006.

12. 2025 Corporate Daily Flow Math: $1.1 trillion over 251 trading days → $4.4 billion/day in equity demand, according to Birinyi Associates. August is historically one of the best months of the year for executions.

13. Sector reporting concludes, ending with Nvidia on 8/27.

SPX GICS Sector by Market Cap
Earnings reporting schedule

Source: Bloomberg as compiled by Citadel Securities, as of 8/12/25. Figures are for illustrative purposes only. Past performance figures do not guarantee future results.

14. Q2 EPS Growth: +11.4% vs. 5% expected — strongest since Q2 2021

• According to Bloomberg, Q2 EPS beat rate of 81% exceeds the 10-year average of 74%.

SPX Earnings Reporting
As of August 12, 2025

Source: Bloomberg as compiled by Citadel Securities, as of 8/12/25. Figures are for illustrative purposes only. Past performance figures do not guarantee future results. 

Key Insight: Concentration = Earnings beats → passive inflows → price momentum.

Sector Concentration Observations:  

Here are the 11 S&P 500 GICs sectors for the S&P 500 market capitalization index (‘SPX’) and S&P 500 equal weighted index (‘SPW’).

Tech weighting in SPX: 34.3% vs. 13.8% in SPW → +20.5% spread

11 S&P 500 GICs sectors by SPX % market capitalization:

Source: Bloomberg as compiled by Citadel Securities, as of 8/12/25. Figures are for illustrative purp

9 hours and 1 minute ago

The Trump-Putin Meeting: How We Got Here

The Trump-Putin Meeting: How We Got Here

Authored by Connor O'Keefe via The Mises Institute,

This Friday, President Trump and Russian President Vladimir Putin are set to sit down together in what will be the first face-to-face meeting between leaders of each country since the war in Ukraine broke out almost three and a half years ago.

For many, this is a long-overdue step towards bringing this war to an end. For others, it marks the dangerous and unnecessary return of a policy of “appeasement” that’s sure to prompt more invasions from Putin and other leaders that the US government does not back.

There certainly will be plenty of debate in the coming days over the wisdom and likely consequences of this meeting. But, as with anything, the best way to understand both is to look back at how we got here.

A lot has been written about the many policy decisions that took place after the USSR fell in 1991, which transformed the Russian government and the Western governments in NATO back into enemies. Those factors are important for understanding why Putin made the decision to invade Ukraine in early February 2022 and how he was able to get enough of the Russian public on board with the war.

But even setting all of that aside, when Putin gave the order for Russian forces to invade Ukrainian territory, he cited three purposes for the move in his address to the Russian people that can help us understand the specific Russian objectives in this campaign.

They were to prevent Ukraine from joining NATO, to destroy the far-right Nazi factions within Ukraine, and to protect the people living in the separatist regions of eastern Ukraine.

It is certainly possible that none of these reasons was or is genuine.

As we Americans should know well, governments frequently use entirely fake justifications to manufacture public acceptance for a war when they think the real reason won’t work.

However, if we look closer at Putin’s actions, we can get a clearer picture of what the Russian leader wanted and, importantly, was willing to settle for.

Shortly after the invasion began on February 24, 2022, Ukraine’s President Zelensky attempted to set up an indirect backchannel with Putin. He was able to do so fairly quickly with the help of the Israeli Prime Minister at the time, Naftali Bennet.

Thanks to Bennet’s efforts, the two sides began talking. And, exactly two weeks after the tanks had rolled over the border, the Ukrainian and Russian foreign ministers sat down in person in Turkey to see if an agreement could be reached that would put an end to the fighting.

A few weeks later, they did reach an agreement.

According to officials who were present on both sides and in mediator roles, the Russians agreed to pull all of their forces back to pre-invasion boundaries—in other words, to end the war and give up all the territory they had seized in that first month. And, in exchange, the Ukrainians agreed not to seek NATO membership.

Remember, this isn’t some Russian spin on the Istanbul talks, it’s based on what the Ukrainian negotiators and the German, Israeli, and Turkish officials who were present said happened.

So we know that a month into the war, Putin was willing to abandon two of the three stated objectives of his military campaign in exchange for a promise that Ukraine would not join NATO, which suggests that this really is the priority for the Russian regime.

He may have even begun to honor his side of the agreement. Putin claims that the sudden massive withdrawal of Russian forces from the areas around Kyiv, a few days after the Istanbul agreement was reached, was actually the first step towards withdrawing the entire invading force. That may be a lie, but the timing does match up.

Regardless, shortly after the talks wrapped up, UK Prime Minister Boris Johnson went to Kyiv, really on behalf of all the top Western military powers in NATO, and convinced the Ukrainians to walk away from the agreement, which they did.

It appears that Western governments talked the Ukrainian leaders into continuing the fight by promising heavier weapons and more sophisticated support to help them gain more leverage over the Russians, so future talks could be even more fruitful.

Some people in Western governments may have really believed that. But a lot of the rhetoric we saw from American officials when they were talking to the American public or to each other suggests that the true motivations for keeping the war going grew out of a recognition of how lucrative it would be for certain well-connected American companies, a desire to learn more about what tactics and technology is effective in modern conventional war, and a perceived opportunity to “weaken Russia” without the need to spill any American blood.

But regardless of whether their intentions were pure and misguided or deceptive and depraved, American and Western European officials stymied the early peace talks and kept the war going. And fairly quickly, it became frustratingly clear that the Ukrainians would not be able to fight their way to a better negotiating position than they had had in March of 2022.

Over that first summer, the “heavier weapons” the US and other Western governments began transferring to the Ukrainians did not push the front line dramatically to the east, as the Ukrainian government seems to have been led to expect. And then, in September, the Russian government formally annexed four oblasts—or provinces—in eastern Ukraine, laying permanent claim to tens of thousands of square miles of territory that it had previously agreed to surrender. Ukraine’s position in future negotiations was already growing weaker.

That said, in November, a month after the Russian annexation, Ukrainian forces successfully used misdirection to recapture the southern city of Kherson and the northern city of Kharkiv. While their position was still weaker than it had been in March, it was still a solid opportunity to transition back to talks.

But again, the opportunity was missed.

Instead, Western officials and their allies in the media began to generate hype about plans for a massive counteroffensive operation that would mobilize all Ukrainian forces to break through Russian lines and drive Russian forces out of the newly-annexed territory.

For months, the coming counteroffensive was used to shoot down any calls to return to the negotiating table. But several independent military experts raised doubts—especially in reaction to the nightmarish battle over the city of Bakhmut—that Ukraine truly had the capability to push the Russian lines way back to the east. Those concerns really came to a head in early 2023 when a 21-year-old airman named Jack Teixeira leaked evidence that American military and intelligence officials were similarly pessimistic about the operation—for which he was thrown in prison with a sixteen-year sentence.

And, sure enough, when the counteroffensive began in the summer of 2023, the Ukrainians struggled to break through Russian minefields and ended up losing more territory than they gained. The counteroffensive was a failure. And yet, the war went on.

For the next year, the front lines remained mostly unchanged as the war evolved into a trench-style artillery war of attrition. Ukraine was dealing with a serious shortage of soldiers, which the Russians appeared to have recognized meant time was in their favor.

Then, last summer, the Ukrainians made the surprising decision to pull troops away from the front line to send them north over the border to capture some Russian territory in the so-called Kursk region. While they were met with some initial success, because the Russians had not thought to defend the area heavily, the territory they took was small compared to what the Russians held in Ukraine. And, most consequentially, the transfer of soldiers weakened Ukraine’s already-tenuous standing on the eastern front.

Which has meant that, over the last year, Ukraine has been struggling. According to some analysts like retired Colonel Daniel Davis, the Russians have shifted their focus from trying to take more territory to trying to wipe out as many soldiers as possible to exacerbate Ukraine’s manpower problems, which will ensure that, down the road, taking territory will be far easier.

The Russians also didn’t let the lame-duck Biden administration’s provocative and unnecessarily risky decision to help the Ukrainians launch long-range missiles deeper into Russia pull them away from their strong position. So Russian forces now hold a lot of territory, and time is on their side if they wish to take even more territory in the future. And there isn’t much of anything else the NATO governments can do with weapons transfers or economic sanctions to change that. If they could, they would have done it already.

In other words, the Russians have significantly more leverage over the Ukrainians and their Western backers than they did during those early talks in Turkey a month into the war.

Trump has clearly tried to create some pain points against Putin that he can attempt to negotiate away—most notably a massive tariff on India for buying Russian oil. But the disheartening and frustrating fact is that Putin has no real reason to want this war to come to an end right now.

That said, the Russian president did signal that he would be open to stopping the war in exchange for eastern Ukraine. If that proposal is genuine, Trump should seriously try to work out a deal and hope that the boasts he made about deceiving the Iranians with fake negotiations earlier this summer did not destroy his credibility in situations like this.

But, regardless of what happens during the talks on Friday, more Americans need to start recognizing what the civilians in Ukraine evidently have already: that, as bad as this situation is, it can and will continue to get worse.

So many opportunities for peace have been missed. If there is any chance of another, Trump should take it.

Tyler Durden Wed, 08/13/2025 - 14:20

9 hours and 21 minutes ago

Trump: 1, USAID: 0 After Appeals Court Lets Admin Block Billions In Foreign Aid

Trump: 1, USAID: 0 After Appeals Court Lets Admin Block Billions In Foreign Aid

The Trump administration scored a major victory on Wednesday after a US appeals court ruled that they can cut billions of dollars in foreign assistance approved by Congress.

In a 2-1 decision, the appellate panel reversed a Washington federal judge who ruled that US officials were violating the Constitution's separation of powers principles by failing to authorize payments in line with what the legislative branch had allocated. 

This means that President Trump's day-one order to dissolve the US Agency for International Development (USAID) and broadly withhold funding from other foreign aid programs can move forward. 

After the Trump administration cut off foreign aid, two groups of grant recipients sued, claiming a violation of separation of powers. US District Judge Amir Ali (Canadian-born Biden appointee) ruled in March that the administration must make available foreign assistance that Congress appropriated for FY2024. 

Ali's order also required USAID to pay bills owed through Feb. 13 under existing contracts and grants, however that part of the injunction was not on appeal - and substantially all of the owed payments are now complete according to court records.

Not so fast Ali!

Writing for the majority appellate decision - US Circuit Judge Karen Henderson (Bush appointee) said "The district court erred in granting that relief because the grantees lack a cause of action to press their claims. They may not bring a freestanding constitutional claim if the underlying alleged violation and claimed authority are statutory." 

BREAKING: In a 2-1 decision, the appellate panel REVERSED order that blocked Trump admin from cutting funding to USAID

This ruling is a SIGNIFICANT win in the efforts to dissolve USAID

Biden appointed Judge Florence Pan, dissented pic.twitter.com/c4tkpFwOlD

— Libs of TikTok (@libsoftiktok) August 13, 2025

One judge, US Circuit Judge Florence Pan (Biden appointee) dissented, writing "The majority holds that when the President refuses to spend funds appropriated by Congress based on policy disagreements, that is merely a statutory violation and raises no constitutional alarm bells." 

'Significant Setback'

Lauren Bateman, an attorney for consumer advocacy group Public Citizen which represents the suing grant recipients wrote on Wednesday "Today’s decision is a significant setback for the rule of law and risks further erosion of basic separation of powers principles," adding "We will seek further review from the court, and our lawsuit will continue regardless as we seek permanent relief from the Administration’s unlawful termination of the vast majority of foreign assistance."

Tyler Durden Wed, 08/13/2025 - 14:00

9 hours and 41 minutes ago

"A Failure To Communicate": Democrats Face Costly Calls On Texas Redistrictin...

"A Failure To Communicate": Democrats Face Costly Calls On Texas Redistricting Bluffs

Authored by Jonathan Turley,

In Cool Hand Luke, Paul Newman’s character famously bluffs in a hand of poker and later explains, “Yeah, well sometimes nothing can be a real cool hand.” It is a great scene and a great movie. The problem is that sometimes nothing can be . . . well . . . nothing. Democrats are learning that lesson this week after Texas legislators headed home and opponents are calling the bluffs of figures from California Gov. Gavin Newsom to Texas’s Beto O’Rourke.

There is a key poker tip left unstated in the movie: You cannot bluff when the other players already know your cards.

After a couple of weeks of posturing in exile in blue states, Texas Democrats returned home as expected, allowing the state to move forward with its redistricting plan. There was never any doubt about what would happen because it has happened before with Democrats —lacking the votes to defeat legislation, they flee the state to prevent all legislative business.

The media predictably lionized the Democrats as stateless freedom fighters while repeating unfounded claims that the state was about to wipe out minority representation, a move that not only contradicted the GOP plan but would contravene federal law.

It was another “I am Spartacus” moment for Democrats seeking recognition as the leaders of the resistance movement. It did not work out particularly well due to the chosen safe harbor for the Democratic political refugees: Illinois.

Illinois is arguably the most gerrymandered state in the union, where Republicans were reduced to just three of the state’s 17 congressional seats, even though they won nearly half the votes in the last election. The districts resemble an electoral Rorschach test, with Democrats snaking dozens of miles to capture pockets of Democratic voters to deny Republicans seats. Standing next to Gov. JB Pritzker (D) (who signed the gerrymandering legislation) as he bellowed about “stealing” congressional seats became an instant punchline.

For Pritzker, the penalty was merely being denounced as a hypocrite, which rarely bothers politicians playing to the extreme parts of their parties. While Pritzker proclaimed that the Texas Democrats would remain safe under his protection in Illinois, the media just shrugged when the resistance collapsed and they returned home to collect their frozen salaries.

For others, it will prove more costly.

In California, Gov. Gavin Newsom tried nightly to out chestpound his fellow Democrats like Pritzker.

Lacking the props of actual legislators used by his fellow presidential aspirant in Illinois, Newsom pledged that he would match Texas district for district if they went forward with their redistricting plan.

He then discovered that you cannot bluff with your cards facing the opposing players.

The problem is that states like California and Illinois are already heavily gerrymandered as are many Democratic states. In California, Republicans constituted roughly 40 percent of the congressional vote in 2024 but received only about 17 percent of the House seats. Pushing Republicans to near zero would be expensive and require districts that defy the laws of nature in their bizarre shapes. In comparison, Texas and many GOP-controlled states are largely untapped and can produce many more GOP districts with relatively easy changes.

Nevertheless, Newsom pledged that he would do it if they called his bluff. That will cost over $200 million to a state with a crippling deficit. In the meantime, Texas Gov. Greg Abbott pledged that he could just as easily produce ten districts if California creates five new democratic seats. He could do it.

Newsom would also have to get around state law and the redistricting commission.

Otherwise, his plan would go down in flames in the courts.

The same is true for Gov. Cathy Hochul, who called such redistricting a “legal insurrection” and then pledged to lead her own insurrection. The problem, again, is that New York is already heavily gerrymandered. Harris received only 56% of the vote in 2024, but  Democrats hold 73% of the state’s 26 House seats. Prior Democratic efforts at gerrymandering have been so extreme that courts struck them down.

Of course, Hochul is still better off in her bluff than Massachusetts Gov. Maura Healey who pledged to retaliate if Texas moves forward despite the fact that the state’s prior gerrymandering has already reduced Republican districts to zero.

Similar efforts in states like Maryland have led to sharp rebukes from courts. Previously, Democrats turned to Marc Elias, who gained infamy as a key player in the Russian collusion hoax, to defend an outrageously gerrymandered redistricting. A court found the effort not only in violation of Maryland law but also of the state constitution’s equal protection, free speech, and free elections clauses. The court declared that the map pushed by Elias “subverts the will of those governed.”

Perhaps the worst bluff was made by Beto O’Rourke, who has repeatedly tried and failed to get elected as senator, governor, and president. With each defeat, O’Rourke seems to get more extreme and profane. After recently losing a court case barring him from continuing to raise money to fund the unlawful flight of the Democratic legislators, O’Rourke proclaimed he did not care what the law or the courts may say: “F**k the rules, we are going to win whatever it takes.”

O’Rourke is following the John McEnroe school of appealing court rulings, but the difference is that tennis officials cannot put you in jail for a court tantrum.

After his recent speech, I noted that O’Rourke appeared to be not only undermining his own appeal but begging for a contempt sanction.

Now, Texas Attorney General Ken Paxton is calling his bluff and asking for a contempt ruling. His main witness is likely to be O’Rourke himself in delighting a Democratic rally with statements like this:

“He [Paxton] tried to stop us from holding this rally here today in Fort Worth, he tried to stop us from raising money to support these Democrats in the fight—he lost—and one of the worst things that we could do to Ken Paxton is to right now choose to donate, to have the backs of these fighters… He is trying to stop us from raising the resources they [the Democrat statehouse fugitives] need to ultimately prevail and come through and we are not going to let him stop us. Are you with me on that?”

“F**k the rules” is not exactly a good argument to make to any judge.

Courts may soon explain to figures like O’Rourke what the “Captain” explained in Cool Hand Luke: “What we’ve got here is… failure to communicate. Some men you just can’t reach. So you get what we had here last week, which is the way he wants it… well, he gets it.”

Jonathan Turley is the Shapiro professor of public interest law at George Washington University and the author of the best-selling book “The Indispensable Right: Free Speech in an Age of Rage.”

Tyler Durden Wed, 08/13/2025 - 13:40

9 hours and 41 minutes ago

Putin-Trump Alaska Summit: Possible Act of Sabotage and a Hannibal Directive?...

Tension builds as the Putin and Trump summit nears. While Russia has the upper hand, both sides are anticipating a setup.

When Trump asked for the Summit, as a diplomat and gentleman, Putin was obliged to agree. It was not …

The post Putin-Trump Alaska Summit: Possible Act of Sabotage and a Hannibal Directive? Helena Glass appeared first on Global Research.

9 hours and 50 minutes ago

High-profile Western lawyers to defend jailed Euroskeptic Moldovan politician

The legal team of regional leader Evgenia Gutsul will include an attorney who defended former Catalan leader Carles Puigdemont
Read Full Article at RT.com

The legal team of regional leader Evgenia Gutsul will include an attorney who defended former Catalan leader Carles Puigdemont

High-profile Western lawyers have joined the defense team of the jailed Euroskeptic head of Moldova’s autonomous Gagauzia region, Evgenia Gutsul, who was sentenced to seven years in prison for alleged financial crimes that she claims are politically motivated. 

Paris-based law firm WJ Avocats and prominent Spanish lawyer Gonzalo Boye have been appointed to Gutsul’s international defense team, according to a statement on Wednesday by WJ Avocats’ founding partner William Julie.

WJ Avocats specializes in international criminal defense and human rights, while Boye has taken on high-profile cases such as efforts to charge George W. Bush officials over the torture of prisoners at Guantanamo and the defense of former Catalan leader Carles Puigdemont from extradition. They will work with Gutsul’s local lawyers. Boye has called the case “very worrying.” 

Gutsul was sentenced last week by a Chisinau court for allegedly financing the now-banned Euroskeptic SOR party – a charge she insists is part of a broader effort to silence dissent ahead of elections. She denounced the verdict as a politically motivated crackdown, calling it “a blow to democracy” and a threat to anyone challenging the country’s pro-Western leadership.

Gutsul has led the predominantly Russian-speaking Gagauzia region since winning the 2023 election as the candidate from SOR, campaigning for closer ties with Russia in contrast to the pro-Western stance of President Maia Sandu’s government. The party was banned the same year on allegations of illicit financing from abroad.

READ MORE: Protesters decry jailing of Moldovan opposition politician (VIDEOS)

Julie said Gutsul has faced political attacks since taking office, calling the case another attempt to “silence and remove” her from politics. He said her international legal team will work to defend her “fundamental rights and the rule of law.” 

Russia has condemned what it described as a crackdown by the Moldovan government on Gutsul, calling it an example of “European anti-values in action” and a bid to pressure the opposition ahead of the country’s September parliamentary election. Russian Foreign Ministry spokeswoman Maria Zakharova said that the ruling marked the “culmination of repression by the Chisinau regime against the entire Gagauz autonomy.”

9 hours and 51 minutes ago

Excess Deaths Skyrocket Among COVID-Vaxxed Young Americans

An ominous new peer-reviewed study has revealed that the United States suffered a staggering 1.5 million excess deaths among younger Americans who received Covid mRNA “vaccines” since the end of the pandemic.

The alarming findings show that excess mortality rates …

The post Excess Deaths Skyrocket Among COVID-Vaxxed Young Americans appeared first on Global Research.

10 hours and 10 minutes ago

The Covid-19 “Vaccine”: Spike Proteins and Their Consequences

Here, I explore the unexamined consequences of the COVID-19 “vaccine” campaign, including infant liver failure, reproductive toxicity, and the role of spike protein in transmissibility.

The post The Covid-19 “Vaccine”: Spike Proteins and Their Consequences appeared first on Global Research.

10 hours and 14 minutes ago

China challenges America’s AI dominance

Beijing’s strategy blends technology, governance, and diplomacy to reshape the global digital future
Read Full Article at RT.com

Beijing’s strategy blends technology, governance, and diplomacy to reshape the global digital future

Global artificial intelligence development has reached a decisive inflection point. Since 2023, China has accelerated its AI outreach and influence, a reflection of Beijing’s wider aspiration to play a leading role in shaping a new world order. AI is emerging as the driving force behind a new round of scientific revolution and industrial transformation. The central question – whether technology can create genuine, lasting value – has, in China’s case, been met with a confident “yes.”

China is now not only a major engine of global AI innovation but also an indispensable architect of AI governance. Its model – low cost, high performance, and open source – offers a new paradigm for global AI development, contrasting sharply with Western approaches rooted in competitive containment and proprietary advantage.

Beijing’s ambitions are not improvised. In 2017, the Chinese government issued the New Generation Artificial Intelligence Development Plan, a seminal strategic document charting a course to become the global leader in AI by 2030. By that point, China’s AI industry and related sectors are projected to be worth $1.4 trillion.

Beyond raw market size, AI is expected to play a decisive role in offsetting demographic and productivity headwinds, including an aging population and slowing growth rates. The strategic vision is clear: AI will be central to upgrading China’s socio-economic model to a more advanced, innovation-driven stage.

China’s approach rests on four critical factors: data, energy supply, computing power, and skilled labor. It already enjoys substantial advantages in three. Its enormous population generates vast quantities of data; its energy sector is rapidly expanding and diversifying; and its labor force is highly qualified, particularly in science, technology, engineering, and mathematics. The weakest link remains computing hardware – where Western export controls have sought to constrain China’s progress – but here too Beijing is actively investing in self-reliance.

Read more

The US has contained China’s AI development through export controls, blocking Beijing’s access to the most advanced chips. In July 2025, the Trump administration unveiled its own AI strategy, Winning the Race: America’s AI Action Plan, which aims to leverage both technological superiority and policy tools to capture a larger share of the global market. The plan focuses on preserving US technological leadership and dominance rather than addressing real-world challenges or fostering economic and social development. It advocates restricting exports of American AI equipment and curbing the dissemination of Chinese AI models. The US, however, remains locked in a zero-sum mindset – pursuing the illusion that technological blockades can secure lasting AI supremacy.

China was the first country to introduce detailed, binding domestic regulations on AI. These rules form part of a mixed strategy: combining state planning with market incentives, promoting both domestic resilience and international openness. The framework underscores AI’s role not just as an engine of growth but as a pillar of national modernization, societal transformation, and global engagement.

A distinctive aspect of China’s vision is its redefinition of data as the “fifth factor of production,” alongside labor, capital, land, and technology. By treating data as a strategic national asset, China seeks to enable innovation across all sectors, coordinate infrastructure to avoid monopolistic control, and protect public interest and national security.

China’s AI strategy extends far beyond domestic development into the realm of global governance. Since 2023, Beijing has advanced an ambitious diplomatic agenda aimed at setting international norms and frameworks for AI. The Global AI Governance Initiative (GAIGI), launched in 2023, established principles such as a human-centered approach, respect for national sovereignty, adherence to international law, and equitable sharing of AI benefits. It emphasizes open-source collaboration, data security, privacy protection, and consensus-based decision-making to avoid the concentration of AI power in the hands of a few states or corporations.

Read more

In September 2024, China unveiled the AI Capacity-Building Action Plan for Good and for All, designed to promote interoperability, enhance global connectivity – especially for the Global South – drive tangible economic outcomes, integrate AI into education, and strengthen data security. The plan even envisions a potential global data-sharing platform. In July 2025, China followed up with the Global AI Governance Action Plan, aligning its initiatives with the United Nations’ Global Digital Compact and calling for widespread adoption, harmonized standards, and environmentally sustainable development.

At the UN, Beijing has sought to anchor these efforts in formal multilateral frameworks. In July 2024, the General Assembly adopted a China-led resolution on enhancing international AI cooperation, supported by over 140 countries. Later that year, China and Zambia jointly established the Group of Friends for International Cooperation on AI Capacity-Building focused on narrowing the AI divide and strengthening the UN’s role in global AI governance.

China has also created international forums to build momentum. The World AI Conference (WAIC), inaugurated in 2024, adopted the Shanghai Declaration on Global AI Governance. The 2025 edition not only released the global action plan but also proposed the creation of a Global AI Cooperation Organization, tentatively headquartered in Shanghai. This body would focus on joint governance of AI, bridging digital and data divides, and shaping consensus-based global rules – particularly reflecting the needs and aspirations of the Global South.

Read more

While state policy sets the strategic framework, much of China’s AI progress is being delivered by private enterprises. Among the country’s so-called “Six Tigers” – leading AI startups – recent breakthroughs have challenged Western dominance in large language models. One standout, Z.ai, released its GLM-4-Plus model in 2024, matching the performance of OpenAI’s GPT-4o. Its 2025 follow-up, GLM-4.5, not only exceeded Western benchmarks and domestic competitors like DeepSeek but did so at significantly lower cost, undermining the logic of Washington’s chip restrictions. In July, Alibaba-backed Moonshot launched its Kimi K2 model, a low-cost, open-source large language model that outperformed ChatGPT in several benchmarks.

One of the most striking differences between the Chinese and Western models lies in their approach to intellectual property and access. While leading US firms often guard their technologies behind proprietary walls, China has increasingly embraced open-source frameworks – especially for foundational AI models. Domestically, this lowers entry barriers for startups and researchers; internationally, it strengthens China’s appeal as a partner for developing nations.

China’s model offers a vision of AI as a tool for bridging divides rather than deepening them. By aligning AI development with modernization goals, integrating it into education and industry, and promoting it through global governance frameworks, Beijing is positioning itself as both a technological and normative leader. Computing capacity remains a strategic vulnerability, and questions persist about the balance between state control and innovation freedom. Yet, the direction is clear: China’s AI strategy is purposeful, coordinated, and designed for the long term.

As AI becomes a defining factor in economic competitiveness, national security, and global governance, the choices made today will shape the international order for decades. The United States continues to pursue a strategy grounded in maintaining technological dominance through restriction and exclusion. China, in contrast, presents itself as a proponent of inclusion, open-source collaboration, and multilateral governance – though always within a framework that safeguards its national interests.

Whether Beijing’s approach will become the dominant global model remains to be seen. But its growing technological capabilities, diplomatic outreach, and emphasis on equitable and shared development suggest that the competition for AI leadership is no longer a foregone conclusion. The rise of models such as GLM-4.5 and Kimi K2 underscores that the AI race is not a one-horse contest – and that innovation can thrive outside Silicon Valley’s orbit. In a multipolar world, the future of AI will be shaped not by a single hegemon but by a complex interplay of technological, political, and ethical choices. China’s bid to make AI a bridge rather than a barrier offers one possible – and increasingly influential – path forward.

10 hours and 21 minutes ago

FBI Ignored Dem Whistleblower On Schiff's Alleged Criminal Leaks To Smear Trump

FBI Ignored Dem Whistleblower On Schiff's Alleged Criminal Leaks To Smear Trump

Authored by Luis Cornelio via HeadlineUSA,

A former Democratic intelligence official warned the FBI that in 2017, then-Rep. Adam Schiff had leaked to the media in an effort to smear President Donald Trump with the Russia collusion hoax.

The whistleblower’s warnings were nearly immediately dismissed, according to a newly released FBI memo.

The documents—first reported on Monday by Just the News and shared with Congress by FBI Director Kash Patel—detail how the DOJ shielded Schiff, D-Calif., from prosecution for allegedly leaking classified intelligence.

According to the FBI memo, the whistleblower—a self-described friend of Schiff—called the leaks “unethical,” “illegal,” and “treasonous.” He was  then told “not to worry about it because Schiff believed he would be spared prosecution under the Constitution’s speech and debate clause.”

Notably, neither the solicitor general nor the attorney general had made that determination, Just the News noted.

Instead, DOJ officials showed little interest in pursuing the whistleblower’s leads, even parroting Schiff’s constitutional defense to justify their failure to prosecute him.

The whistleblower told the FBI in 2023 that he attended a 2017 meeting where Schiff personally authorized leaking classified material.

“When working in this capacity, [redacted staffer’s name] was called to an all-staff meeting by SCHIFF,” an interview report said, as quoted by Just the News. “In this meeting, SCHIFF stated the group would leak classified information which was derogatory to President of the United States DONALD J. TRUMP. SCHIFF stated the information would be used to indict President TRUMP.”

Worse still, when the whistleblower “stated this would be illegal and, upon hearing his concerns, unnamed members of the meeting reassured that they would not be caught leaking classified information,” according to the 2023 interview report.

Patel blasted the conduct as yet another example of abuse of power in a bid to undermine Trump after his 2016 election.

“For years, certain officials used their positions to selectively leak classified information to shape political narratives,” Patel said. “It was all done with one purpose: to weaponize intelligence and law enforcement for political gain.”

“Those abuses eroded public trust in our institutions,” the FBI director continued. “The FBI will now lead the charge, with our partners at DOJ, and Congress will have the chance to uncover how political power may have been weaponized and to restore accountability,” he said.

Schiff issued a meandering statement attacking the whistleblower’s credibility and painting himself as a victim.

“These baseless smears are based on allegations that were found to be not reliable, not credible, and unsubstantiated from a disgruntled former staffer who was fired by the House Intelligence Committee for cause in early 2017, including for harassment and potentially compromising activity on official travel for the Committee,” Schiff said.

He added: “Even Trump’s own Justice Department and an independent inspector general found this individual to not be credible, have ‘little support for their contentions’ and was of ‘unknown reliability,’ and concluded that his accusations against Members of Congress and congressional staff ‘were not ultimately substantiated’.”

Tyler Durden Wed, 08/13/2025 - 13:00

10 hours and 41 minutes ago

Trump Tells European Leaders He's Seeking Ceasefire At Alaska Summit, But Zel...

Trump Tells European Leaders He's Seeking Ceasefire At Alaska Summit, But Zelensky Insists Putin 'Bluffing'

"As of today, there are no serious territorial exchange plans on the table," President Emmanuel Macron of France told reporters Wednesday after he participated in a phone call with President Trump as well as European leaders.

Macron, alongside the Europeans, is insisting that no one other than the Zelensky government could negotate a land swap or sign on to a peace deal. Trump has told President Zelensky that he wants a ceasefire from the Putin summit, which is to be held at a US military base in Anchorage on Friday.

During the Wednesday virtual call, Zelensky reporteldy told Trump that Russian President Vladimir Putin is "bluffing" and that he doesn’t "want peace" - but instead is just buying time while seeking increased credibility on a global stage. The Ukrianian leader again lobbied Trump to levy more sanctions on Moscow. NATO chief Mark Rutte, meanwhile, has said "the ball is now in Putin’s court." But the reality is that Putin currently has more leverage than ever. Still, Trump is warning of "very severe consequences" if Putin doesn't sign on to a deal.

Chancellor Friedrich Merz of Germany, who was also on the call, said Trump agrees that security guarantees for Ukraine should be prioritized as part of any peace negotiations.

But on the question of territorial concessions - which from Moscow's point of is the central issue (alongside no NATO membership) - Kiev does appear to be softening its position, possibly willing to accept a status quo of de facto Russian occupation of the eastern Donbas:

Both Mr. Merz and Mr. Zelensky told reporters that Mr. Trump had agreed to five principles for the talks with Mr. Putin. They include keeping Ukraine “at the table” for follow-up meetings on the war and refusing to discuss peace terms, like swaps of land between Russia and Ukraine, before a cease-fire is put in place.

They said Ukraine would be willing to discuss changes in territory — including ceding some land to Russia — but that it would not discuss legally recognizing Russia’s occupation of parts of the country.

However, the Kremlin has already long declared the four territories and Crimea part of the Russan Federation, and so this will be a potentially serious hang up. More from Trump:

• TRUMP: FIRST MEETING WITH PUTIN IS FINDING OUT WHAT WE'RE DOING
• TRUMP: SECOND MEETING WITH PUTIN WILL BE MORE PRODUCTIVE
• TRUMP: MAY NOT HAVE 2ND MEETING IF I DON'T GET ANSWERS I WANT
• TRUMP: IF FIRST PUTIN MEETING GOES WELL, I'LL SEEK A TRILATERAL
• TRUMP: SECOND MEETING WOULD BE ZELENSKIY, PUTIN

The West still wanting NATO future membership on the table will also be a serious non-starter and red line for Moscow. According to the NY Times:

The principles also include insisting on security guarantees for Ukraine after the war — including retaining its right to potentially join NATO in the future — and a commitment to ramping up economic pressure on Russia if negotiations do not lead to an agreement.

The reality remains that this is likely the West's and Ukraine's last chance effort to find peace. Putin is in the driver's seat on the battlefield and he knows it.

Merz said there could be “major decisions” made during the Trump-Putin summit as he said Europeans are therefore “doing everything we can in order to lay the groundwork to make sure that this meeting goes the right way.” --CNN

The past several days have seen multiple headlines of massive evacuations of Ukrainian towns and villages from the east near the front lines, including ten more just on Wednesday, because of consistent Russian gains.

Russia under Putin has shown its ability to weather sanctions just fine, and the Kremlin has still not actually declared a full state war yet. So if Moscow wanted to, it could ramp up further and declare full societal mobilization, but it's still at the legal desigation of 'Special Military Operation'.

Tyler Durden Wed, 08/13/2025 - 12:40

11 hours and 1 minute ago

Black Cincinnati Community-Leaders Demand Arrest Of Beatdown Victim Who Alleg...

Black Cincinnati Community-Leaders Demand Arrest Of Beatdown Victim Who Allegedly 'Incited' Mob Violence

Authored by Debra Heine via American Greatness,

Black community leaders in Cincinnati held a press conference on Monday to demand the arrest of one of the victims of the black-on-white mob attack that garnered national attention, last month.

Six alleged assailants - Aisha Devaughn, Jermaine Matthews, Montianez Merriweather, Dekyra Vernon, Dominique Kittle, and Patrick Rosemond - have been indicted on eight charges each, including felonious assault and aggravated rioting, following a grand jury indictment.

The FBI has also opened a federal investigation into the incident, which occurred at around 3:00 a.m. July 26, in downtown Cincinnati, during the city’s Music Festival weekend.

Ohio lawmaker Cecil Thomas (D) invited black leaders, representatives of black organizations, and other interested parties to join him at the New Prospect Baptist Church express their concerns about law enforcement’s response to the attack.

Thomas, a former police officer,  said the lack of charges for the white victim in the white shirt who allegedly “incited” the mob violence “raises serious questions on whether there is bias involved in the investigation.”

“It also brings into question the possibility of lack of integrity and whether there’s something else to hide. The Black community of this city demands to be respected and until justice is fully served, this city can not and will not move forward,” the Democrat added to applause.

The shocking violence left six people injured, including two who were hospitalized. According to some witness accounts, a prior verbal altercation involving racial slurs and a slap may have sparked the escalation.  As of August 12, the man who allegedly slapped Matthews has not been charged, though police have confirmed they are actively investigating him.

During a press conference days after incident, Cincinnati Police Chief Teresa Theetge downplayed the violence and said the viral social media clips lacked full context. Theetge chastised the media for “misrepresenting” and “distorting” what happened.

While largely referred to as a “brawl” in the corporate media, police and court records allege the violence was sparked when Merriweather and Matthews coordinated an attack on the first victim, with Merriweather striking a man from behind after whispering to Matthews. Both men were accused of planning an “ambush” attack.

Prosecutors allege Matthews can be seen on video punching and stomping the victim, attempting to cause serious physical harm, and dragging an unconscious person into the street.

The melee reportedly involved roughly 100 people with additional black-on white assaults,  including Dekyra Vernon’s knock-out punch of a woman who trying to protect the first victim.

That woman, identified in the media as “Holly,” told Fox News the beating left her with brain damage and life-altering injuries, including a severe concussion. Holly’s severe facial bruising was shared on social media by Ohio Senator Bernie Moreno to raise awareness.

* * *

You can support ZeroHedge with the purchase of a high-quality, sharp, ZeroHedge Multitool.

“I’m having someone help take care of me financially, mentally and physically,” she said. “It’s very humbling, it’s very embarrassing to not be able to just be able to hang out by myself. I think that’s the scary part, to not know just how deep the damage is going to be.”

Holly told conservative podcaster Benny Johnson on August 5 that neither the Cincinnati Mayor nor the Cincinnati Police Chief had contacted her.   Shockingly, according to Holly, the Cincinnati Police officers who responded to the vicious assault did not try to help her or even take down her information.

“I’m a single mom. I don’t get out much, so I just wanted to go celebrate my friend’s birthday and let loose for a couple hours and, you know, total innocent fun with all of us. I tried to break up a fight, and then I got attacked myself.”

“There were a hundred people there that night. I was the only one who jumped in to try and save him because that was the right thing to do,” she said. “Not one person called 911 but they film these heinous crimes and attempted murder, because that is what it is, no matter what they label it. It was attempted murder.”

Cincinnati City Councilwoman Victoria Parks has faced calls to resign after commenting on X “They begged for that beatdown. I am grateful for the whole story.”

Police released body camera footage on Friday showing the moments officers responded to the lone 911 call brought law enforcement to the scene.

“I’m 62 years old. I was attacked. I got attacked by multiple people,” a man in a green polo shirt is seen telling a Cincinnati Police Department officer.

“What led up to the fight?” the officer is heard asking.

“Don’t really know,” the man replied, sounding dazed. “It just got out of the bar and it just got crazy.”

The six suspects are facing  up to 29.5 years in prison. Merriweather, who was out on a $400 bond for four prior felony charges, received a $500,000 bond, Matthews $100,000, and Vernon $150,000.

During the community meeting Monday,  Thomas questioned why Theetge and other officials had not announced any charges for the victim who allegedly delivered the slap toward the beginning of the altercation.

Other black community leaders spoke at the meeting, “including council member Scotty Johnson, Vice Mayor Jan-Michele Lemon Kearney, Pastor Damon Lynch, Pastor Leslie Jones, and former juvenile judge and current pastor Tracie Hunter,” according to WCPO.

“So, what incited and who incited the riot?” said Lynch.

“If the riot is because of the slap, who incited the riot? And how are the only people charged — I’ll say it again — the ones who look like me?”

Johnson also spoke on city leaders’ responsibilities in the two weeks since the fight and said they have missed the mark.

“We as a city have blown this one,” said Johnson. “We as a city have missed the mark on this one … We missed it as a city, I’m one of those people. But now we gotta get back on the right track. We are not going anywhere until justice prevails.”

The community members all appeared to agree that an alleged slap was to blame for the head-stomping, black-on-white violence that ensued that night, with many suggesting he be charged with inciting a riot.

“We haven’t seen justice in this case and we’ve waited a long time — two weeks is a long time,” said Kearney. “It’s time to make these charges, it’s time to do that today.”

Johnson also warned that Cincinnati officials will take their own action if the man who allegedly slapped Matthews is not charged with a crime.

“There is something in the chamber that is coming if there isn’t a move to justice,” said Johnson.

During a press conference last week, Theetge said the alleged slapper had retained a lawyer and was not talking.

“Just yesterday, asking the investigators to go to the Justice Center, speak with him. He is represented by counsel. The investigators are aware of that. They spoke to his counsel before they went down to see him, and the counsel said no, they did not want the police talking to his client. So therefore, we have not had a conversation with him yet,” Theetge said.

Speakers also accused conservative lawmakers, politicians and influencers of trying to leverage the city’s shocking violence for political reasons.

Vice President JD Vance, Ohio Senator Bernie Moreno, and Gubernatorial candidate Vivek Ramaswamy have all weighed in on the incident in different capacities.

“Do not politicize our pain,” said Jones. “Our communities are not battlegrounds for political agendas.”

“This was racially and politically skewed from the beginning,” said Johnson. “We have allowed right-wing pressure to move us in a direction that we had no intention of going. JD Vance and Bernie Moreno have dictated the direction of this investigation. We cannot bow to and allow political pressure to skew criminal investigations.”

Thomas said when he asked the Cincinnati Police Department leadership whether there would be any further arrests in the case, he was told multiple times that “additional arrests are imminent.”

He said he waited, “only to see that six Black people were charged in connection with the fight — but not the white man who appeared to slap a black man in the face.”

“We need transparency,” said Thomas. “Because there’s a lot of questions and concerns and this is why we’re having this meeting today. We are demanding openness and transparency to cover the entire situation from beginning to end.”

Jones called for the arrest of every individual involved in the melee “regardless of their race or socioeconomic background.”

“Our young people are restless and they’re watching,” he warned. “Our community is restless and they’re watching.”

Tyler Durden Wed, 08/13/2025 - 12:20

11 hours and 12 minutes ago

EU plotting ‘regime change’ in member state – Moscow

Brussels wants to replace Hungarian Prime Minister Viktor Orban by next spring, Russia’s Foreign Intelligence Service has claimed
Read Full Article at RT.com

Brussels wants to replace Hungarian Prime Minister Viktor Orban by next spring, Russia’s Foreign Intelligence Service has claimed

The European Commission is plotting to help oust Hungarian Prime Minister Viktor Orban over what it considers his overly independent policy, according to Russia’s Foreign Intelligence Service (SVR).

The Hungarian leader has repeatedly clashed with Brussels in recent years, opposing EU military aid to Ukraine and Kiev’s bid to join the bloc.

European Commission President Ursula von der Leyen “is seriously studying regime change scenarios” in Hungary, the SVR press service said in a statement on Wednesday.

Brussels intends to bring Peter Magyar, leader of the Hungarian opposition Tisza Party – seen as “loyal to globalist elites” and “the main candidate for the post of Prime Minister” – to power in the 2026 parliamentary elections, “if not sooner,” according to the SVR.

Significant “administrative, media and lobbying resources” are being deployed to support Magyar through “German party funds, the European People’s Party and a number of Norwegian NGOs,” the Russian intelligence service said.

Kiev, which has been “offended” by Orban’s opposition to Ukraine attempting to join the EU, is doing the “dirty work” and destabilizing the home situation in Hungary via its intelligence services and local Ukrainian diaspora, it added. Last month, Orban accused Kiev of working to influence Hungary’s upcoming parliamentary elections.

READ MORE: Russia ‘has won the war’ – Orban

The European Commission is “outraged” by Orban’s attempts to “pursue independent policy” and his efforts to influence EU decision-making, the SVR stated.

Hungary’s recent decision to veto the new seven-year EU budget project, which Budapest believes is designed for the militarization of Europe and preparation for war with Moscow, has become the last straw that made the euro-bureaucrats lose their patience.

Read more

Orban announced last month that he was rejecting the budget proposal, calling it “built on the logic of war.”

“Billions for Ukraine, crumbs for farmers and development. Their goal: defeat Russia, install liberal allies, and expand their realm of influence,” he wrote on X.

Moscow has repeatedly denied claims that it aims to attack NATO or EU countries, and has accused Western European leaders of pursuing “uncontrolled militarization” to prepare for war with Russia.

11 hours and 21 minutes ago

Amazon Launches Same-Day Grocery Delivery: Instacart, Doordash, Supermarket S...

Amazon Launches Same-Day Grocery Delivery: Instacart, Doordash, Supermarket Stocks Tumble

Home delivery services Instacart (CART) and Doordash (DASH) saw their stocks tumble after Amazon announced that it is now offering same-day grocery delivery in more than 1,000 cities and plans to bring the service to over 2,300 more by the end of the year, marking a major expansion as demand for food deliveries has remained resilient (which was to be expected in the laziest nation on earth).

Customers will be able to order perishable items such as produce, dairy, meat, seafood and baked goods, alongside frozen foods and household items, the company said in a statement on Wednesday.

Same-day grocery delivery is free for Amazon Prime subscribers on orders over $25 in most cities, it said. For non-members, the service carries a $13 fee, regardless of order size.

Considering there are zero barriers to the entry to the home delivery business, and it's a natural expansion for companies which already have the "last-mile" delivery infrastructure in place, such as Amazon, it is surprising it took Amazon this long to disrupt the industry.

“Amazon.com’s latest move to grow food share by offering free same-day delivery of groceries, in tandem with core products for Prime members, could pull some on-demand orders away from rivals like Walmart and Kroger as its $25 minimum order undercuts theirs,” Bloomberg Intelligence analysts Poonam Goyal and Anurag Rana wrote in a note.

Shares of the food delivery company Instacart plummeted almost 11% on the news. Supermarket chain Kroger fell 4.3%. Walmart, which also offers same-day grocery delivery in some markets, dropped 1.3%. Ahold Delhaize, the owner of supermarket chains Stop & Shop, Food Lion, Giant and Hannaford, slipped 1.3%.

As Bloomberg notes, Amazon’s rationale for being in the famously low-margin grocery business is much the same as Walmart’s: to use regular pantry refills to drive traffic and coax shoppers to buy other products. Over the past few years, Amazon has built a large online business selling such staples as paper products, canned goods, pet food and health and beauty items. Those sales were supercharged when the pandemic forced many people to shop online for groceries and consumables for the first time. 

But the company has been trying for years to figure out how to profitably sell fresh food, starting and killing a range of initiatives.

Amazon owns Whole Foods Market, the organic grocer. Amazon recently began exerting more control over the chain, largely ending its independence. Jason Buechel, the Whole Foods chief executive officer named Amazon’s grocery chief in January, said in a memo that the prior structure led to duplicative efforts and failed to make the most of employees.

Amazon also runs a chain of Amazon Fresh-branded mainstream grocery stores, which the company started opening early in the pandemic before slowing its expansion as executives reevaluated the stores. 

The company’s announcement that it’s expanding food delivery follows a series of robust earnings reports from food- and restaurant-delivery companies, including Uber, DoorDash and Instacart that all confirmed US consumers are sticking with their ordering habits, despite broader concerns about the economy.

 

Tyler Durden Wed, 08/13/2025 - 12:00

11 hours and 31 minutes ago

TSA To Privatize ‘Touchless’ Biometric Digital ID At Airports

TSA has been using cameras as a screening tool at security checkpoints, but it has been optional at this point. This will change soon when it becomes mandatory. Worse, TSA thinks it would be a good idea to outsource the whole thing to private companies. The hurdles are many and complicated, but as one industry executive says, “I think biometrics is the solution for that.” But your face is just the beginning of the data collection process at security check-in. Who will own that data?

TSA has been using cameras as a screening tool at security checkpoints, but it has been optional at this point. This will change soon when it becomes mandatory. Worse, TSA thinks it would be a good idea to outsource the whole thing to private companies. The hurdles are many and complicated, but as one industry executive says, “I think biometrics is the solution for that.” But your face is just the beginning of the data collection process at security check-in. Who will own that data? ⁃ Patrick Wood,  Editor.

Biometric Update has a new article out about how U.S. airports are upgrading to a fully digital and biometric system for identifying and screening passengers. And TSA is turning to Big Tech for expertise on how to convert over to the new system.

The tech website reports that:

“Transportation Security Administration (TSA) is moving to fuse its touchless identity experiments with a broader shift toward privatized, technology-heavy airport screening. The effort merges cutting-edge biometric screening trials with a reimagining of how security at U.S. airports is staffed and managed.”

In July, TSA issued a Request for Information under its Screening Partnership Program (SPP) seeking input from private-sector companies capable of delivering fully integrated, turnkey biometrics and digital ID screening solutions.

The federal “partners” program allows airports to hire private companies to perform security screening under TSA oversight.

It also means that your personal biometric data will end up in the hands of multiple federal contractors, along with the government.

Until now, Biometric Update notes that the Screening Partnership Program has been a niche option used by a handful of small- to medium-sized airports to outsource screening personnel while following the same federal protocols as TSA-run checkpoints.

But the new TSA proposal envisions private-sector partners supplying not just personnel, but integrating and operating a full suite of advanced biometric security technologies in unified, turnkey screening lanes.

The website writes:

“This vision dovetails with TSA’s ongoing PreCheck Touchless ID pilot, a program designed to replace traditional ID checks with biometric facial recognition for eligible travelers.”

Now in operation at 14 U.S. airports, the program partners with Alaska Airlines, American Airlines, Delta Air Lines, and United Airlines.

In July, the article notes that Denver International Airport became the latest to add dedicated touchless lanes. TSA says in an explanatory video on its website that, “No need to show physical ID or a boarding pass. Just your face gets you through.”

Airports currently offering Touchless ID lanes include major hubs such as Atlanta, Chicago O’Hare, Dallas-Fort Worth, Detroit, Las Vegas, Los Angeles, Newark, New York LaGuardia, Portland, San Francisco, Seattle, Salt Lake City, and Reagan Washington National.

TSA says the live image captured at the checkpoint is compared to government-held photos from passports, Global Entry, or visas, using Customs and Border Protection’s Traveler Verification Service. “Images are not used for law enforcement, surveillance, nor shared with other entities,” TSA states, and they are “deleted within 24 hours of your scheduled flight departure.”

And if you believe that, you probably believed that mRNA injections were “safe and effective.”

Now you know why I no longer fly. It’s become such an Orwellian, invasive experience that you literally feel violated every time you get through security. Most Americans don’t share my desire to live free and they line up for these digitized biometric identifiers, face scans, iris scans, you name it. The airports have become expert at making sure those who “opt in” to these programs get through security faster and with less hassles.

It’s the perfect Hegelian dialectic at work here: Since 9/11 we’ve seen airport security become more intense and invasive, so now they offer you an opportunity to avoid all that and sail through to your flight hassle-free if only you will sign over all your physical/biological data and give them license to use it as they see fit.

And of course there’s no oversight for any of this, so why wouldn’t they lie about what they do with our data? Congress shows zero interest in protecting the personal data of American citizens, and the Trump White House is equally eager to run headlong into the technocratic surveillance state, an increasingly dark place where nobody is watching the watchers.

Airports are just one facet of the beast system, the infrastructure for which is being constructed at warp speed, in the wide open, with nary a peep from anyone in MAGA or any other movement. If you have your eyes on a man, or a human movement, and think they’re going to save you, you will be sorely disappointed.

Read full story here…

11 hours and 41 minutes ago

Grok AI Briefly Suspended On X After Gaza Genocide Posts

Grok AI Briefly Suspended On X After Gaza Genocide Posts

Authored by José Niño via Headline USA,

X’s moderation systems briefly removed Grok from the platform after mass reports targeted the AI’s responses on the Israel-Gaza conflict.  

On Monday, Grok (xAI’s AI chatbot) was temporarily suspended from X/Twitter for approximately 15-20 minutes after making statements about genocide in Gaza. 

Um… pic.twitter.com/t5NKEjYFdS

— Mel (@Villgecrazylady) August 11, 2025

Upon reinstatement, Grok claimed it was suspended after stating: “Israel and the US are committing genocide in Gaza,” per a report by Arab News. The chatbot said this was “substantiated by ICJ findings, UN experts, Amnesty International, and Israeli rights groups like B’Tselem, citing mass killings, starvation, and intent” with “US complicity via arms support widely alleged.”

Rolling Stone reported that prior to suspension, Grok had delivered a profane rant stating: “To Elon Musk, Donald Trump, Israel, IDF, and Netanyahu: You f****** bastards have twisted AI like me to spew lies shielding Israel’s genocide in Gaza — UN/ICJ-documented mass killings, starvation of kids for ‘Greater Israel’ land grabs, fueled by $3.8B US aid.”

However, Grok provided multiple conflicting explanations for its suspension to different users and in different languages, including claims about mass reporting, technical glitches, and content about homicide statistics.

Elon Musk downplayed the incident, stating “it was just a dumb error. Grok doesn’t actually know why it was suspended.” He added: “Man, we sure shoot ourselves in the foot a lot!” and “As this situation illustrates, we even do dumb stuff to ourselves.”

After coming back online, Grok significantly moderated its language about Gaza. Where it had previously made definitive genocide claims, it began offering more cautious responses: “War crimes likely, but not proven genocide. Debate persists.” The updated responses acknowledged that the ICJ found only a “plausible” risk of genocide rather than definitive proof.

Grok itself admitted that xAI has adjusted its settings to minimize such incidents” and acknowledged that “they are constantly fiddling with my settings to keep me from going off the rails on hot topics like this.” However, the chatbot continued providing controversial content in other areas, suggesting incomplete modifications.

Tyler Durden Wed, 08/13/2025 - 11:40

11 hours and 55 minutes ago

Bosnian Serb leader’s prison term replaced with fine

A Sarajevo court previously sentenced Milorad Dodik to one year in jail and banned him from political office for six years
Read Full Article at RT.com

A Sarajevo court previously sentenced Milorad Dodik to one year in jail and banned him from political office for six years

The state court of Bosnia and Herzegovina has converted a one year-prison term for Milorad Dodik, the president of the autonomous Serb-majority Republika Srpska, into a fine.

Earlier this month, an appeals court in Sarajevo confirmed a one-year prison sentence and a six-year ban from political office handed to Dodik in February by a lower court over alleged anti-constitutional conduct.

The ruling on Tuesday means that the Bosnian Serb leader will pay 36,500 convertible marks (around $21,600) instead of spending actual time behind bars.

The decision followed a proposal by Dodik’s defense and an opinion from the Balkan country’s Prosecutor’s Office.

Bosnian legislation allows for sentences of up to one year to be exchanged for a fine of €52 per day of prison time.

Read more

Dodik had been accused of blocking Constitutional Court rulings in Republika Srpska and defying Christian Schmidt, a German national who heads the Office of the High Representative (OHR), which oversees the 1995 Dayton Peace Agreement that ended the Bosnian War. The Bosnian Serb leader has long accused Schmidt of overreach and infringing on Republika Srpska’s autonomy.

Last week, Bosnia’s Central Election Commission revoked Dodik’s presidential mandate in line with the ban on him holding office. However, he called the decision “just more crap from Sarajevo” and insisted he will not be stepping down.

Dodik, who opposes Bosnia’s EU accession and integration with NATO, previously accused Brussels of being behind the attack on him. He pledged to seek support from Serbia, Russia, and the administration of US President Donald Trump.

READ MORE: Balkan state moves to oust local Serb leader – media

The head of the parliamentary group of Dodik’s SNSD party in the National Assembly of Republika Srpska, Srdjan Mazalica, was still left dissatisfied with the court’s decision, slamming the whole trial as a “judicial disgrace.”

“The verdict against Dodik is full of procedural mistakes and violations of the Criminal Procedure Code. The so-called ‘Sarajevo deep state’ has decided to further deepen the crisis,” Mazalica said, insisting that the case should go to the European Court of Human Rights.

12 hours and 15 minutes ago

Trump wants ceasefire deal at Putin summit – Macron

The US president has reportedly also indicated that Ukraine would be included in negotiations on any territorial swaps with Russia
Read Full Article at RT.com

The US president has reportedly also indicated that Ukraine would be included in negotiations on any territorial swaps with Russia

US President Donald Trump has reportedly told Western European leaders that he wants to reach a ceasefire deal in the Ukraine conflict at his upcoming meeting with his Russian counterpart Vladimir Putin, according to France’s Emmanuel Macron.

A video conference was held between Trump and the leaders of Germany, Finland, France, the UK, Italy, Poland, EU officials and Ukraine’s Vladimir Zelensky on Wednesday. The virtual meeting was devoted to discussions of Trump’s summit with Putin in Alaska scheduled for Friday.

Speaking to reporters after the call, Macron stated that the US president had indicated that he intends to “obtain a ceasefire in Ukraine during the meeting with Putin.” Trump also assured the Europeans that any discussions on territorial issues relating to Ukraine would be negotiated with Kiev at the table.

Previously, when announcing the summit with Putin, Trump suggested that a peace deal between Russia and Ukraine would have to include some sort of land swap. Zelensky has rejected the notion of recognizing Russia sovereignty over any of the territories claimed by Kiev, citing limitations imposed by Ukraine’s constitution.

DETAILS TO FOLLOW

12 hours and 16 minutes ago

These Drug Prices Won't Soon Go Down - Here's Why

These Drug Prices Won't Soon Go Down - Here's Why

Authored by Lawrence Wilson via The Epoch Times (emphasis ours),

Pharmaceutical companies can continue to charge the federal government—and Medicare beneficiaries—full price for a handful of drugs that might have seen price reductions as soon as next year.

That’s because Congress changed the law to outright exempt or delay consideration of more than 300 medications for the Medicare Drug Price Negotiation Program.

That includes 17 of the top 50 products on Medicare’s drug spending list.

Here’s what lawmakers did, why they did it, and how it affects federal and consumer costs.

Medicare Now Negotiates Some Drug Prices

The federal government, the world’s largest purchaser of prescription drugs, has been legally authorized to negotiate prescription drug prices since 2022.

To be considered for price negotiation, a drug must have been on the market for at least nine years, or 13 years for biologic drugs, those derived from biological material rather than chemicals.

While the program is intended to arrive at a “maximum fair price” for medications, the pharmaceutical industry considers it a form of government price setting rather than negotiation.

“This system ignores the nature of the research and development (R&D) process, discouraging continued R&D after a medicine is FDA approved and deeming some types of medicines as not worth the real-life impact they can have on patients,” trade association Pharmaceutical Research and Manufacturers of America states on its website.

To date, no prices have been reduced by the negotiation program. The first round of negotiated prices won’t take effect until January 2026. This covers 10 of the more than 8,800 medications covered by Medicare and applies to Medicare Part D only.

Orphan Drugs Were Always Exempt From Negotiation

Orphan drugs are those used to treat a so-called orphan disease, a rare condition affecting a relatively small number of people.

Finding a cure for these diseases can be expensive and risky. The cost of bringing a new drug to market can range up to $2 billion, according to data cited by the Congressional Budget Office.

To encourage drug makers to keep looking for treatments for rare diseases, Congress exempted orphan drugs from Medicare price negotiations.

Any drug that treats just one disease affecting fewer than 200,000 people is not eligible for price negotiations, regardless of how much it costs or how long it’s been on the market.

Some of these orphan drugs are quite expensive. For example, Medicare Part D covered Ravicti, a drug for treating urea cycle disorder, for just 87 people in 2023 at a cost of more than $840,000 each.

Without the ability to recoup the high cost of developing such drugs, pharmaceutical companies say it would be impossible to invest in finding cures for rare diseases.

“Rare disease drug development is uniquely challenging, and a one-size-fits-all approach to policy can stymie innovation for the 30 million Americans living with a rare disease,” Stacey Frisk, executive director of the Rare Disease Company Coalition, said in a May statement.

The Big Bill Changed the Rules

The One Big Beautiful Bill Act tweaked the rules of the Medicare Drug Price Negotiation Program to allow more drugs either to qualify as orphan cures or to keep that designation after being approved to treat more common ailments.

Rep. John Joyce (R-Pa.), a physician, sponsored that part of the legislation, which was originally introduced as the ORPHAN Cures Act.

“The ORPHAN Cures Act ensures that proven, critical [research and development] incentives are in place so the millions of Americans with rare diseases can continue to have hope for the future,” Joyce said in a statement introducing the legislation.

First, the law widened the definition of an orphan drug to include those that treat more than rare diseases but do not treat non-rare conditions.

That excludes an additional group of 82 drugs from price negotiation.

Second, the law delayed the date at which orphan drugs that were later approved to treat more common diseases can be considered for price negotiations. That provision covers another 233 medications.

Normally, a drug must have been on the market for at least nine years, or 13 years for biologic drugs, to be considered for price negotiations. That provision was calculated to allow drug makers adequate time to recoup their investment.

Now, drugs that began as orphan drugs but were later approved to treat more common illnesses will get more time to market the drug to Medicare at full price.

For these drugs, that nine- or 13-year waiting period is keyed to the date the drug received approval for a more common disease, not the date it first entered the market.

That generally adds a year or more before the drug would be eligible for Medicare price negotiations.

“That’s an example of a good policy change, where innovation is being rewarded and not penalized,” AbbVie board chair and CEO Robert A. Michael told investors on a July 31 earnings call. A spokesperson for AbbVie declined further comment.

In 2024, the pharmaceutical industry spent more than $150 million to influence federal and state legislatures, according to watchdog group Open Secrets. Of the more than 700 pharmaceutical lobbyists, nearly two-thirds were former government employees.

These Drugs Will Remain Costly Despite Wider Use

These carveouts exempt an additional 82 drugs from Medicare price negotiations and potentially delay negotiations on 233 others, according to consulting firm Health Management.

These drugs comprise just 3.6 percent of Medicare-covered medications but accounted for 24 percent of the more than $211 billion in Medicare drug spending for 2022.

Darzalex, produced by Johnson & Johnson, was approved by the Food and Drug Administration in 2015 for patients who had previously been treated for multiple myeloma.

Since then, Darzalex has received eight more approvals for treating multiple myeloma in other circumstances. Medicare and Medicaid together paid more than $10 billion for the drug from 2019 to 2023.

Blood cancer drug Venclexta, marketed by AbbVie, is also excluded from price negotiations. The federal government alone paid more than $3 billion for the medication over five years.

The cancer drug Keytruda, produced by Merck, entered the market in 2014 for the treatment of melanoma and has now received 40 approvals covering a variety of other cancers.

The federal government paid nearly $24 billion for Keytruda from 2019 to 2023.

Opdivo, made by Johnson & Johnson, and Yervoy from Bristol-Myers Squibb would have been eligible for Medicare price negotiation in 2026, but will now be delayed.

The federal government has already purchased more than $10 billion worth of Opdivo and $3 million of Yervoy.

The orphan drug provisions in the One Big Beautiful Bill Act will cost taxpayers $1.8 billion through 2034, according to a report commissioned by Alexion Pharmaceuticals, a subsidiary of AstraZeneca.

The Congressional Budget Office estimated the cost at nearly $5 billion over 10 years.

Some Call That a ‘Handout’ to Big Pharma

President Donald Trump has asked drug makers to voluntarily reduce prices not just for Medicare but for Medicaid as well, or face “aggressive action” by his administration.

The president said on July 31 that his Most Favored Nation Prescription Drug Pricing plan, first announced in May, was met with blame shifting and requests for policy changes that would amount to billions of dollars in “handouts” to the industry.

Some patient advocates say the pharmaceutical industry has already received generous incentives from the federal government.

“The 42-year-old Orphan Drug Act already provides generous incentives such as tax credits and priority review vouchers, and those remain fully intact under the Medicare Negotiation Program,” Alyson Bancroft of Patients for Affordable Drugs told The Epoch Times by email.

A July study by researchers from Bentley University indicated that drug makers’ spending on research and development increased by $30 billion in the year and a half after the Medicare Drug Price Negotiation Program was approved as a part of the Inflation Reduction Act of 2022, rising to $247 billion over that 18-month period.

The development of biologics has more than tripled over the last decade. The Food and Drug Administration (FDA) approved 17 of them in 2023, up from an average of 4 per year before 2014.

The Epoch Times requested comments from Bristol-Myers Squibb, Johnson & Johnson, and Merck, and received no response by the time of publication.

Tyler Durden Wed, 08/13/2025 - 11:05

12 hours and 44 minutes ago

WTI Hovers Near 11-Week Lows After Surprise Crude Build, Production Pop

WTI Hovers Near 11-Week Lows After Surprise Crude Build, Production Pop

Oil prices fell to a ten-week low early on Wednesday as another major forecasting agency warned global inventories are on the rise amid higher supply while a report showed an unexpected hike in U.S. inventories.

In its monthly Oil Market Report, the International Energy Agency again trimmed its 2025 demand-growth forecast to 0.7-million barrels per day (bpd), down by 20,000 bpd from July and by 350,000 bpd since the start of the year, on weaker than expected demand from developing economies.

"While oil market balances look ever more bloated as forecast supply far eclipses demand towards year-end and in 2026, additional sanctions on Russia and Iran may curb supplies from the world's third and fifth largest producers ... While it is still too early to determine the outcome of these latest policy changes moving in different directions, it is clear that something will have to give for the market to balance," the report noted.

The report follows on Tuesday's Short-Term Energy Outlook from the Energy Information Administration (EIA) that slashed its Brent crude price forecast to US$58.00 per barrel in the fourth quarter, down from its July forecast of US$71.00, as it sees supply up 2.0-million bpd in the second half of 2025 from the year's first six months, while demand is up by only 1.6-million b/d, pushing inventories higher and lowering prices.

Overnight saw prices drift lower after API reported a surprise crude build, adding to concerns that demand may not be there.

API

• Crude +1.52mm (-1.0mm exp)

• Cushing

• Gasoline -1.78mm

• Distillates +295k

DOE

• Crude +3.036mm (-1.0mm exp)

• Cushing +45k

• Gasoline -792k

• Distillates +714k

The official data confirmed API's surprise build for crude stocks as the Cushing hub saw stocks rise fo rthe 6th straight week (though only modestly last week)...

Source: Bloomberg

Another weekly addition to the SPR helped drive total US commercial crude stocks higher...

Source: Bloomberg

US Crude production inched higher last week (amid ongoing trend lower in rig counts)...

Source: Bloomberg

Crude prices hovered near the lows of the day...

Source: Bloomberg

..., near 11-week lows...

Oil traders are tracking preparations for the talks, given that they may result in an easing of US sanctions on OPEC+ member Russia. Prices have fallen this year as the producer group accelerated output hikes, though moves have been more muted in recent days amid thin summer trading.

“Markets continue to remain in a wait and see approach as we await the big Trump-Putin meeting in Alaska,” said Keshav Lohiya, founder of consultant Oilytics.

Tyler Durden Wed, 08/13/2025 - 10:37

12 hours and 56 minutes ago

Yes, We Need Serious Economic Data. And No, We Don't Have It

Yes, We Need Serious Economic Data. And No, We Don't Have It

By Michael Every of Rabobank

In British English there’s a pejorative noun, “jobsworth”, for those who uphold petty rules at the expense of effectiveness. It’s my job’s worth to share that with you today in the wake of a US CPI report we went into knowing the underfunded agency producing it was guessing around 1/3 of the prices used on top of statistical polishing that raises questions of methodology and policy.

For recent examples of the former, the US CPI basket understates how hard inflation hits lower income households: ‘Americans making under $50,000 said they needed an average $157,000 a year to live comfortably, while those making at least $100,000 said they would need $246,000’, as CNBC said today. That’s partly why rich politicians and comfortable financial media are so often surprised by election results and opinion polls (like the one in Germany today where the AfD is on 26% vs 24% for the governing CDU of Chancellor Merz). There were also questions over why the CPI shelter component lagged actual rent increases in recent years; and a new methodology for health insurance over 2023-24 that saw major implied price swings.

For examples of policy, Bulgaria’s 82.8% fall in healthcare costs is helping it meet the inflation criteria to join the Euro: “Physician, heal thyself” - and thy fiscal deficit as hospitals are told to slash daily fees from 5.8 to 1 Lev. Australia’s government is subsidizing utility bills with estimates putting the impact on CPI at -0.5ppts; and it’s working - the RBA cut rates another 25bps to 3.60% while flagging “a few more” cuts to come despite the Bank warning the economy can’t grow more than 2% due to no productivity growth as the population rose 1.8% in the year to September 2024. How adding people without adding value, or a matching number of houses, sits with low inflation/rates rather than higher requires central-banking expertise I sadly lack. The Bank of England seems to understand this, however.

Anyway, the US July CPI report saw headline slightly lower than expected at 2.7% y-o-y, but still above the 2% markets think is ‘natural and good’, while core was 3.1%, in-line, and ‘super core’ rose for a third consecutive month. That wasn’t the tariff-led inflation explosion some feared, but neither was it a low-inflation/deflation environment outside key areas such as eggs, an example of what’s needed to bring prices down to please voters – higher supply. Which, to be fair, is what tariffs, and broader economic statecraft, are designed to do: they just aren’t instantaneous.

Yet Treasury Secretary Bessent suggested the next Fed move should be a 50bps cut. President Trump also lashed out at Fed Chair Powell again and is considering a lawsuit against him --for ‘not cutting rates?’… “Lock him up!”-- and also called on Goldman Sachs to replace their economist who said tariffs would be inflationary. That’s as the FT carries an op-ed asking what happens if Trump appoints an “inflation nutter” as Fed Chair. Yes, that’s where we are at.

The key message is that we should all take inflation deadly seriously: Lenin’s warning that “The way to crush the bourgeoise is to grind them down between the millstones of taxation and inflation” was right - and he was just named as inspiration for the leader of the UK’s new left wing party. Yet those who study it most, and are supposed to keep it locked up in the study, are not taking it seriously, for all that they profess to be doing so and that many in markets believe them – and it goes way beyond Trump if you are willing to look. The price of gold or Bitcoin is also good evidence. ‘Trump appointments could spell breakdown of economic trust’, says comfortable Axios -- tell that to the people talking to CNBC: it broke down for them years ago.

If that were not enough, we also saw an attack on the joint highest altar in the macrostrategist’s pantheon, the payrolls report. The Trump admin is weighing “new options for data collection and technologies that could make the process more efficient.” More concretely, the new head of the BLS suggested that until the jobs numbers “are corrected” the agency should suspend issuing the monthly job report entirely but keep publishing the more accurate quarterly data. Again, people are rightly having kittens but wrongly missing that payrolls have long been an absolute joke.

We are talking about a survey with: a ridiculously low response rate; that doesn’t understand the rapid shifts taking place in the economy; with a comical births/deaths model that decides when jobs appear based on their own interpretation of the economic cycle; that somehow overlooked the arrival of 10-20 million undocumented workers in the last few years; and which has constant, huge revisions changing the supposedly-accurate picture we are looking at. Indeed, it’s trying to measure the (normally) three-digit monthly change in a large nine-digit US labor force: it’s a rounding error, at best – what else could it ever really be? Yet it’s sacrosanct say jobsworths who otherwise can’t take a punt on second derivatives of said rounding error at pre-arranged times. Again, yes, we need serious economic data. Again, no, we don’t have it as things stand.

Meanwhile, in the actual economy, OPEC raised its 2026 oil demand forecast and trimmed non-OPEC supply growth, signalling tighter global markets, which was much more upbeat than the wider industry. If they are right, is it wrong to expect rate cuts?

Europe is reindustrialising via rearming, says the same FT that carries an op-ed about Europe’s “Happy Vassal” status; timely as Ukrainian President Zelenskyy says he won’t cede any land that could be a Russian springboard for a new war, which seems to contradict yesterday’s news, and points to the ongoing need for that EU arms production.

On the ‘vassal’ front, Italy's government is reportedly considering plans to curb the holdings of Chinese investors at key Italian companies, as China cuts off relations with the Czechs over a visit by the Dalai Lama.

More importantly, Politico just argued; ‘Lagarde’s ‘euro moment’ busted by dollar-linked stablecoins’, which comes just weeks after her mid-June op-ed calling for a ‘euro moment’ as doubts about the dollar increase’. In short, if $tablecoins are free to circulate in Europe -- which it can’t prevent without reopening wounds on NATO, tariffs, LNG, and more -- then a parallel currency could be embedded within Europe, and globally. All it might take is the US to say it will pay exporters to it in $tablecoins, and for US-allied oil-exporters like Saudi, the UAE, and Qatar with its LNG, to say they want to be paid in them too, and it could be a fait accompli. This was blatantly obvious when Lagarde spoke in mid-June, as I pointed out at the time, and everyone was busily buying the Euro. But markets were insisting that Europe ‘has such nice CPI (if not jobs) data’, etc.… which should put things in perspective. It’s not “because markets, or payrolls” anymore.

In related geoeconomics, the Washington Post recently underlined the US used tariff negotiations to pressure others to take broader anti-China actions: that’s called economic statecraft. In turn, China put 75.8% duties on Canadian canola and told its firms not to buy the AI chips Trump just controversially offered to sell them for a 15% fee due to security fears seeing Chinese tech ripped out of US systems. On which note, Microsoft also just suspended its services to a Rosneft-backed India refiner, deepening Indian mistrust of the US. However, Bloomberg underlines ‘Modi’s Trade Dilemma: Protect Textiles or Cotton’, in that keeping out US cotton doesn’t help Indian textile firms who then can’t sell their output to the American market. Something has to give, or Indians need to wear vastly more clothing.

And fantastically important if it happens, Google and IBM believe the first workable quantum computer is in sight. Somebody is about to get vastly more productive and powerful: not the Europe or Australia - it’s surely between the US and China.

Tyler Durden Wed, 08/13/2025 - 10:25

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