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Zero Hedge is a financial blog that features news, analysis, and commentary on global markets, economics, and politics. The website was launched in 2009 by a group of anonymous contributors who go by the pseudonym "Tyler Durden," a reference to the character from the novel and film "Fight Club."The website is known for its contrarian and often bearish views on the economy and financial markets, as well as its critiques of government policies and institutions. Zero Hedge features a wide range of content, including news articles, opinion pieces, and technical analysis of financial markets.Zero Hedge has gained a significant following among investors, traders, and financial professionals, who appreciate its unique perspective and often provocative commentary. However, the website has also been criticized for its sensationalist tone and its tendency to promote conspiracy theories.Some of the key features of Zero Hedge include: - News articles and analysis on global markets and economics - Opinion pieces and commentary from a contrarian perspective - Technical analysis of financial markets and trends - A community section where readers can comment and discuss articles - A "Tyler's Travels" section that features articles on politics and cultureOverall, Zero Hedge is a popular and influential website that offers a unique perspective on global markets and economics. While it may not be to everyone's taste, it has become a must-read for many investors and financial professionals.

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RSS Hunter • Aug 19, 2024

Thread Of Notes

Your Bank Data Could Become A Profit Center - And You'll Pay the Price

A forthcoming federal rule on open banking could allow banks to charge fees for consumer data access. Open banking enables consumers to authorize sharing their financial data with third parties. The Biden administration previously issued a rule prohibiting banks from charging such fees. Banks sued, arguing the rule forced costly data-sharing infrastructure without cost recovery. JPMorgan Chase has already proposed fees for data aggregators. The Trump administration is working on a rewrite that may permit volume-based data access fees for banks. Critics argue these fees will ultimately be passed on to consumers. Experts suggest banks already possess incentives and infrastructure for data management. Some warn that fees could stifle fintech innovation, impacting services beyond financial management. This potential fee structure also conflicts with President Trump's stated goals of promoting financial innovation. The rewrite is currently under White House review before further public comment and finalization.

https://www.zerohedge.com/political/your-bank-data-could-become-profit-center-and-youll-pay-price zerohedge.com

RSS Hunter • Yesterday

'Quality Over Quantity': Reddit Is Mostly Wiped From ChatGPT Citations

Recent data indicates a significant drop in ChatGPT's citations from Reddit. This comes after OpenAI modified its ChatGPT Search query fanout behavior. Previously, Reddit held a substantial share of ChatGPT citations, averaging around 3.83%. However, following changes on August 8th, this share began to decline. By mid-August, Reddit's citations in ChatGPT responses had fallen to near zero. This shift suggests a deliberate move by OpenAI towards prioritizing quality over quantity in its sources. The removal of Reddit is linked to concerns about the reliability and unverified credentials of its users. It also addresses potential biases present on the platform. Instead of Reddit, ChatGPT is now more frequently citing official sources and direct websites. This change aims to reduce spam and improve the quality of information presented. The exact reasons are still being monitored, but quality is cited as the primary driver for this source reduction.

https://www.zerohedge.com/technology/chart-day-reddit-mostly-wiped-chatgpt-citations zerohedge.com

RSS Hunter • Yesterday

The DSA's War On Wealth

Communism is increasingly present in mainstream American Democratic Party politics, with organizations like the Democratic Socialists of America (DSA) growing. Some openly identify as socialists, distinct from those favoring a Scandinavian model, while others may hide communist intentions behind the socialist label. This ideological trend is seen as a resurgence, despite past efforts to combat communism. Communist and Marxist ideas are reportedly thriving in various American institutions, an infiltration strategy attributed to Antonio Gramsci's "long march through the institutions." This approach advocates for gradual control of cultural and political bodies rather than violent revolution. The goal is to shift public perception so that communism, disguised as socialism, becomes the preferred path. The text highlights a controversy at the Smithsonian Institution as an example of this ideological shift, focusing on inclusivity of slavery and inequality over national achievements. Historically, American communism has roots dating back to the Bolshevik Revolution, with periods of suppression and revival, notably in the 1960s and 70s. International influences, including the Cuban Revolution and figures like Frank Marshall Davis, are also cited as contributors to the American radical left. The rise of socialism within the Democratic Party carries significant investment implications, potentially leading to higher taxes and changes to wealth and assets. Gold and silver are suggested as potential safe havens in this evolving economic and political landscape.

https://www.zerohedge.com/political/dsas-war-wealth zerohedge.com

RSS Hunter • Yesterday

Meet The Pro-Trump Billionaire Who Paid $40 Million For Fugly Ferrari EV

A Florida billionaire, Dr. Herbert Wertheim, purchased Ferrari's unique Luce EV for $40 million. Wertheim, an optometrist and founder of Brain Power, bought the car at an RM Sotheby's auction. Despite critical reception of its appearance, the one-of-a-kind "Chassis 0" is valued at $1.1 million. The car is being shipped to Italy for undisclosed modifications before Wertheim takes possession next year. Similar to a $26 million Ferrari Daytona SP3 he bought previously, Wertheim plans to use the Luce, which he calls "Lucy," for fundraising. He stated it will not be his personal vehicle for everyday errands. The 87-year-old billionaire is a supporter of Donald Trump and frequently visits Mar-a-Lago. At a charity gala there, he also spent $2 million for a private White House visit with Trump. This purchase at the gala benefited scholarships for children of law enforcement and firefighters. Dr. Wertheim has an estimated net worth of $4.6 billion.

https://www.zerohedge.com/political/meet-pro-trump-billionaire-who-paid-40-million-fugly-ferrari-ev zerohedge.com

RSS Hunter • Yesterday

Newsom's High Speed Train To Nowhere Is Not Arriving Anytime Soon

California's high-speed rail project, a signature initiative of Governor Gavin Newsom, is facing severe delays and escalating costs. A recent inspector general's report highlights ongoing financial shortfalls and a lack of transparency regarding the project's problems. The multibillion-dollar endeavor is projected to run out of funds by December 2027, necessitating significantly more investment to complete even its initial segment. Originally approved with overly optimistic cost estimates, the project has already consumed $18 billion and requires an additional $18 billion for the first phase alone. The full San Francisco to Los Angeles line could ultimately cost upwards of $200 billion. Despite these massive overruns and decades of delays, the project's expected ridership has decreased by 25%. Critics express astonishment at the public's apparent lack of outrage over this perceived incompetence and waste. Democratic leaders, including gubernatorial candidate Xavier Becerra, are now looking to the federal government for a bailout. Accountability for the project's financial woes appears to be lacking. The inspector general's report points to a failure of leadership and a reluctance to establish accurate and transparent reporting processes. Ultimately, the project is continuing to drain billions with little progress, becoming a national embarrassment and leaving California citizens bearing the brunt of the financial burden.

https://www.zerohedge.com/political/report-newsoms-high-speed-train-nowhere-not-arriving-anytime-soon zerohedge.com

RSS Hunter • Yesterday

California Retail Theft Blitz Leads To 97 Arrests And $1 Million In Stolen Merchandise

California law enforcement agencies conducted a nine-day crackdown on organized retail crime. This effort, part of the National Organized Retail Crime Blitz, involved the California Highway Patrol and over 100 other agencies. The operation targeted theft activity at various retail locations statewide. Authorities arrested 97 individuals and recovered over 8,500 stolen items. The recovered merchandise was estimated to be worth approximately $1.05 million. Among those arrested, eight faced felony charges. The crackdown included significant recovery of stolen sneakers in San Diego. Other operations in Roseville, Lodi, and Stockton also resulted in arrests. CHP Commissioner Sean Duryee emphasized the negative impact of retail theft and vowed continued enforcement. Since 2019, the CHP's Organized Retail Crime Task Force has been involved in thousands of investigations and arrests, recovering millions in stolen goods.

https://www.zerohedge.com/markets/california-retail-theft-blitz-leads-97-arrests zerohedge.com

RSS Hunter • Yesterday

Harvard To Pay $53 Million To Families Of Donors Whose Body Parts Were Sold Off

Harvard University has agreed to a $53 million settlement to resolve lawsuits concerning the illegal sale of donated body parts. A former Harvard Medical School morgue manager, Cedric Lodge, was found to have stolen and sold body parts from cadavers. These remains, including heads, brains, skin, and bones, were trafficked between 2018 and March 2020. Lodge admitted to these charges and was sentenced to prison. His wife was also convicted and received a prison sentence. Families of the donors sued Harvard, alleging negligence and that the university ignored Lodge's misconduct. A state court judge preliminarily approved the class action settlement on August 18th. This settlement comes eight months after Lodge was indicted. The Massachusetts Supreme Judicial Court had previously revived the lawsuit, finding sufficient claims of Harvard's failure to act in good faith. Harvard officials described Lodge's actions as a "flagrant betrayal of our values." They stated that Lodge's crimes were unknown to the school and that these events do not reflect their reverence for body donors. Harvard expressed sorrow to the families and will offer a statement confirming the reprehensible nature of Lodge's acts.

https://www.zerohedge.com/political/harvard-pay-53-million-families-donors-whose-body-parts-were-sold zerohedge.com

RSS Hunter • Yesterday

The $1.5 Million Rich Kid Socialist: NYC-DSA Co-Chair Gustavo Gordillo Lives The Revolution From Daddy's Townhouse

Gustavo Gordillo, a co-chair of the NYC Democratic Socialists of America, publicly advocates for policies that target wealthy property owners and capitalist gains. He calls for the redistribution of private property from landowners to the landless and has suggested that high investment returns should not be constitutionally protected. Gordillo also believes that New York City has become an exclusive playground for the rich and supports government-run grocery stores even if they put private competitors out of business. He has consistently presented himself as a working-class union electrician fighting for the common person.However, recent reports reveal that Gordillo resides in a $1.5 million luxury row house in Bed-Stuy, New York City. This property was purchased by an LLC controlled by his multimillionaire parents for nearly $1 million in 2019 and subsequently underwent extensive renovations. His parents are successful capitalists, having founded an engineering firm and owning significant real estate holdings. Gordillo's current residence is a prime example of the type of gentrification and displacement his organization's rhetoric condemns.Furthermore, his proclaimed identity as a union electrician is questionable, with no public record of him completing the journeyman process, and he himself has stated he is no longer an electrician. Before his union affiliation, he was a Yale graduate with an MFA who worked in the art world. The house he occupies has even been flagged as a potential target for a pied-à-terre tax, highlighting the contradictory optics of his situation. Gordillo benefits from the very capitalist successes and intergenerational wealth transfer his ideology aims to dismantle. This pattern suggests a disconnect between the radical rhetoric of some progressive activists and their personal application of their beliefs.

https://www.zerohedge.com/political/15-million-rich-kid-socialist-nyc-dsa-co-chair-gustavo-gordillo-lives-revolution-daddys zerohedge.com

RSS Hunter • Yesterday

The Cruelty Of DEI

Jeffrey Tucker's article discusses the tragic suicide of Jason Arday, an education sociologist at Cambridge, amidst an investigation into his intellectual credibility. Tucker argues that Arday's rise was enabled by Diversity, Equity, and Inclusion (DEI) initiatives, which he equates to a mutated form of affirmative action prioritizing identity over merit. He contends that such systems create unearned prestige and foster resentment and hidden contempt. Tucker shares an anecdote about a Black university administrator who felt burdened by opportunities he believed exceeded his qualifications, illustrating how individuals can be harmed by being beneficiaries of DEI. This administrator explained how he was accelerated through the academic system, struggling to keep up and feeling like a token. He questioned the integrity of a system that seemed to reward him regardless of performance. Tucker draws a parallel to a hypothetical scenario where someone might be boosted solely based on their origin. He criticizes white, left-liberal intellectuals for creating these systems as a form of penance, using Black individuals as pawns. The article asserts that DEI has permeated various sectors, suppressing dissent through threats of accusations of racism. Whistleblowers face retaliation, leaving only those willing to conform to the prevailing narrative. Tucker concludes that DEI is demeaning to all involved, including those bypassed, those who speak out, and even its perceived beneficiaries. He believes these systems are unsustainable and lead to tragic outcomes, advocating for an end to such practices.

https://www.zerohedge.com/political/cruelty-dei zerohedge.com

RSS Hunter • Yesterday

China's Tungsten Chokehold Turns Almonty Into a Critical-Metal Lifeline

Almonty Industries is transitioning into a prominent tungsten producer with a focus on Western supply chains outside China. China's recent export controls on tungsten have created a significant market squeeze, driving prices up. The US Defense Logistics Agency's interest in purchasing tungsten highlights the supply constraints. Much of the tungsten outside China is already under long-term contracts, leaving little for new stockpiling efforts. Japan is experiencing a critical shortage of tungsten intermediates, leading to increased scrap imports. However, new US regulations prioritize domestic allocation of tungsten scrap. Almonty is positioned as a key ex-China supplier, particularly with its Sangdong Mine in South Korea nearing full production. This mine is expected to supply Western defense manufacturers and critical mineral chains. The company's existing operations saw a substantial revenue increase due to record tungsten prices. Sangdong and Almonty's Portuguese mine are crucial for defense industries and semiconductor manufacturing. Almonty announced a $300 million stock buyback, indicating management's belief in undervaluation relative to assets. This buyback aligns with the broader trend of Western nations decoupling from Chinese supply chains.

https://www.zerohedge.com/commodities/chinas-tungsten-chokehold-turns-almonty-wests-critical-metal-lifeline zerohedge.com

RSS Hunter • Yesterday

200,000 Fake AI 'Victims' Deployed To Scam-Bait Online Fraudsters

Apate, an Australian tech firm, deploys nearly 200,000 AI-bot characters globally to impersonate scam victims. These bots waste scammers' time, with one performance metric being the number of swear words directed at them. The company aims to occupy con artists' hours, preventing them from targeting genuine individuals. For instance, Apate's bots collectively wasted over 500 days of scammers' time for a single Australian telco, saving an estimated thirteen million dollars. Beyond time wastage, the bots gather actionable intelligence for banks and telcos to combat scam rings in various regions. Apate's founder, Dali Kaafar, was inspired by a personal experience of stringing along a scammer for 44 minutes. This led to the development of technology to automate scam engagement and extract valuable information at scale. The company secured funding and spun off from Macquarie University in 2023, now collaborating with major banks. Apate's AI bots are sophisticated, possessing distinct personas, vocal tics, and accents, trained on extensive scammer-human interactions. They operate as honeypots on platforms like WhatsApp and Telegram, exploiting scammers' greed. The bots also uncover new cryptocurrency wallet addresses used by scammers, providing crucial intelligence before funds are transferred. As AI scammers become more prevalent, Apate believes defensive AI bots have a strategic advantage in extracting intelligence. This technological arms race offers a favorable outlook for combating widespread scams.

https://www.zerohedge.com/ai/200000-fake-ai-victims-deployed-scam-bait-online-fraudsters zerohedge.com

RSS Hunter • Yesterday

Media Accuses Hegseth Of Covering Up USS Lincoln Supply Crisis

The USS Lincoln aircraft carrier is reportedly facing severe issues including resupply problems, low morale, and poor conditions due to an extended deployment. A prominent media outlet alleges that War Secretary Pete Hegseth concealed crucial information about the extent of damage to a key resupply base. This base, Naval Support Activity Bahrain, was allegedly struck by Iranian ballistic missiles during Operation Epic Fury. These strikes are claimed to have crippled Pentagon resupply and logistics for the entire Mideast region. Despite extensive damage to the Bahrain base, evidenced by satellite imagery, the Pentagon has largely downplayed the impact. The military stated no one was killed and operations were not significantly impacted, though most personnel were evacuated. This extensive damage to America's sole naval base in the Middle East, alongside other regional strikes, is prompting a re-evaluation of the U.S. presence. The destruction of the Bahrain base, a critical logistics hub, severely affected the USS Lincoln's ability to maintain standard supplies and conditions. Experts suggest Iran targeted logistics as a strategic move against U.S. naval operations. The U.S. administration and Pentagon continue to deny or minimize the severity of these reported problems.

https://www.zerohedge.com/military/media-accuses-hegseth-covering-uss-lincoln-supply-crisis zerohedge.com

RSS Hunter • Yesterday

Texas Hits New Peak Demand Record, Faces 80% Supply Shortfall By 2030

Ascend Analytics predicts ERCOT's peak demand could reach 120 GW by 2030, a significant increase though lower than ERCOT's own forecasts. Gas turbine shortages, long development timelines, and interconnection challenges hinder new generation capacity. Ascend argues ERCOT's energy-only market lacks revenue certainty for crucial dispatchable generation, and market signal inconsistencies weaken investment decisions. A surge in large load requests, primarily from data centers and industry, has outpaced the grid's ability to connect new generation. Ascend's lower demand estimate accounts for delays and proposed load attrition, highlighting forecasting difficulties. Limited generation availability is identified as the primary constraint by Ascend executives. Supply chain hurdles and bottlenecks in engineering, procurement, and construction further impede new generation development. Ascend anticipates healthy reserve margins until 2026, followed by a squeeze as demand outpaces supply additions, sparking discussions on market reforms like "bring-your-own-new-generation" requirements. Financial challenges, particularly for storage projects, stem from lenders' concerns about uncontracted revenues and ERCOT's market design relying on scarcity pricing. This market structure risks either insufficient revenue for new entry or affordability crises due to volatile prices.

https://www.zerohedge.com/markets/texas-hits-new-peak-demand-record-faces-80-supply-shortfall-2030 zerohedge.com

RSS Hunter • Yesterday

FOMC Minutes Tilt Hawkish: 'Inflation Risks Skewed To The Upside' Due To AI

Following the July 19th FOMC meeting, gold, bitcoin, and oil outperformed, while the dollar and bonds lagged, with stocks showing moderate gains. Rate hike expectations significantly decreased due to weaker economic data released since the meeting. Fed watchers were seeking clarity on the Fed's policy reaction function and current data focus. Market participants had anticipated the FOMC minutes to reveal broad hawkish sentiment, which could have reignited rate hike bets. However, the minutes are backward-looking, and the Fed can selectively emphasize certain messages. Many expected a hawkish edit to the minutes due to rising bond yields and concerns about Fed credibility.The minutes confirmed a hawkish tilt, with most participants believing higher rates would be necessary if inflation did not fall. Several favored raising rates at the July meeting to forestall future hikes. One participant, Warsh, proposed reducing the annual number of policy meetings from eight to six to allow more time for strategic monetary policy considerations. While this change would not occur this year, it signifies a potential shift in the central bank's operations. Inflation concerns were central, with most anticipating a step-down but acknowledging the possibility of persistent elevation. Fed staff noted an upside skew in inflation risks and the potential broader effect of AI investment on prices. Labor market conditions were described as stable with balanced demand and supply. A couple of participants noted that the ample-reserves regime had aided orderly market functioning. The minutes appeared sparser in actionable detail than usual, aligning with a lack of forward guidance and the potential for fewer meetings.

https://www.zerohedge.com/markets/fomc-40 zerohedge.com

RSS Hunter • Yesterday

Prosecutors In Charlie Kirk Slaying Case Say Evidence Supports Death Penalty

Prosecutors are urging a Utah judge to uphold all charges against Tyler James Robinson, including one that carries a potential death sentence. Robinson is accused of killing Charlie Kirk, founder of Turning Point USA. The defense argued insufficient evidence for the death penalty and probable cause to proceed to trial. Prosecutors countered that the defense ignored damning facts and misrepresented legal standards. They contend evidence shows others were at risk of death, supporting the capital offense charge. The shooting occurred as Kirk spoke to a large crowd at Utah Valley University. Prosecutors stated evidence strongly links Robinson to the shooting and subsequent cover-up attempts. Robinson faces aggravated murder and six other charges. The judge will decide on probable cause after oral arguments on September 1. Prosecutors believe the evidence is overwhelmingly against Robinson, citing his alleged admissions and supporting forensic and eyewitness testimony. The judge’s decision will determine if the case proceeds to trial.

https://www.zerohedge.com/political/prosecutors-charlie-kirk-slaying-case-say-evidence-supports-death-penalty zerohedge.com

RSS Hunter • Yesterday

Ugly, Tailing 20Y Auction Prices At 2nd Highest Yield On Record; Would Have Been Highest If Bessent Hadn't Panicked

Today's 20-year Treasury auction saw weak demand despite the Treasury doubling buyback operations. The auction priced at 5.204%, higher than the previous month, and slightly above the when-issued rate. This indicated lackluster demand even with the intervention. Treasury Undersecretary Bessent likely panicked because the auction was set to be the highest yielding on record. His intervention, designed to lower yields, succeeded in making today's the second-highest yielding auction. The bid-to-cover ratio was 2.53, the lowest since February and one of the lowest on record. Foreign buyer participation, or Indirects, dropped to 62.9%, the lowest since February. Directs increased their stake, a trend that often reverses with Indirects' movements. Dealers took 12.5%, which was in line with the recent average. Overall, the auction was poor, though less so due to Treasury intervention. The intervention's effectiveness in stabilizing the bond market is expected to be short-lived.

https://www.zerohedge.com/markets/ugly-tailing-20y-auction-prices-2nd-highest-yield-record-would-have-been-highest-if-bessent zerohedge.com

RSS Hunter • Yesterday

Another Top Zelensky Aide Fired Amid Corruption Probe, House Raid

Ukraine's government is once again embroiled in a corruption scandal, this time directly implicating President Zelenskyy's office. The National Anti-Corruption Bureau launched an operation targeting an alleged criminal organization involving current and former officials. Amidst these investigations, the deputy head of the presidential office, Iryna Mudra, was dismissed by President Zelenskyy. Her home was reportedly searched by investigators on the same day the operation was unveiled. Media reports cite sources suggesting senior officials from the President's Office are involved in the ongoing probes. The operation, code-named "Forrest Gump," includes lawmaker Vadym Stolar and former parliament member Maksym Mykytas. Audio recordings purportedly from the investigation mention the President's Office and large sums of money. This latest scandal follows a series of previous corruption investigations at high government levels. Earlier this year, a close Zelenskyy ally, Andriy Yermak, faced money-laundering charges. Some observers interpret these scandals as attempts to present Zelenskyy as fighting corruption from within. However, others suggest these events are used to portray Ukraine as a functioning democracy progressing against corruption.

https://www.zerohedge.com/geopolitical/another-top-zelensky-aide-fired-amid-corruption-probe-house-raid zerohedge.com

RSS Hunter • Yesterday

Why Are White Liberal Women Identifying With A Child Murderer?

A mother, Lindsay Clancy, has admitted to strangling her three young children to death. Despite overwhelming evidence including her confession and her husband's 911 call, a segment of women online, particularly on TikTok, are framing her as the victim. These women are donating significant amounts of money to a fundraiser for Clancy's parents and creating videos expressing solidarity with her. They argue that postpartum psychosis absolves her of criminal responsibility, even though the trial is ongoing and prosecutors contend she acted intentionally. Critics point out that these online supporters seem to prioritize gender solidarity over the reality of the murdered children. Some videos show mothers relating to Clancy while holding their own babies, which has drawn criticism and calls for child protective services involvement. This phenomenon is seen by some as a refusal to hold women accountable when facts are inconvenient, similar to other high-profile cases. The defense is arguing mental illness and systemic failures, while prosecutors maintain her actions were rational and premeditated. The core fact remains that three children are dead because their mother killed them, a reality that critics argue is being overshadowed by a narrative of female victimhood.

https://www.zerohedge.com/political/why-are-white-liberal-women-identifying-child-murderer zerohedge.com

RSS Hunter • Yesterday

Jeffrey Tucker Reveals The Insidious Reason For The Lockdowns

Jeffrey Tucker, president of the Brownstone Institute, has revealed a striking claim about the COVID-19 pandemic response. He states that top officials from the FDA and NIH confided in him about the true purpose of the lockdowns. According to Tucker, these measures were not primarily for public safety. Instead, their aim was to delay the development of natural immunity within the population. The intention was to prevent widespread immunity from building up naturally until COVID-19 vaccines were available. Tucker asserts that multiple sources involved in the pandemic response have corroborated this information. He believes this strategy prolonged suffering and prevented a natural resolution to the virus. The lockdowns, school closures, and masking were part of this deliberate delay. The goal was to ensure the vaccines received credit for controlling the pandemic. Tucker acknowledges this sounds like a conspiracy theory but insists it was confirmed by insiders. He interprets "flatten the curve" as a directive to extend the crisis. The ultimate objective was to delay natural immunity and immune system enhancements gained through exposure.

https://www.zerohedge.com/political/jeffrey-tucker-reveals-insidious-reason-lockdowns zerohedge.com

RSS Hunter • Yesterday

Cherokee Nation In The US Bans Data Center Development

The Cherokee Nation has banned new hyperscale data center development on its tribal lands. Chief Chuck Hoskin announced this decision due to concerns about resource and cultural impacts. He emphasized the need for early and transparent engagement with companies regarding these projects. Despite the ban, a survey revealed that 64 percent of Cherokee Nation citizens supported hyperscale data center construction. However, only 14 percent were in favor, and 22 percent were undecided, indicating a divided opinion. Two specific data center projects, Project Clydesdale and Project Mustang, are currently in development within the reservation. The nation also expressed interest in maintaining access to colocation and cloud services for various governmental and business operations. This includes critical systems for disaster recovery and tribal registration. The ban highlights the growing tribal concerns surrounding the environmental and cultural implications of large-scale data infrastructure.

https://www.zerohedge.com/markets/cherokee-nation-us-bans-data-center-development zerohedge.com

RSS Hunter • Yesterday

"This Is Huge!": Trump Hails Ibogaine Application Gift Aimed At Helping Veterans With Mental Illness

President Donald Trump announced the University of Miami has donated its original 1994 investigational new drug application for ibogaine to the federal government. This significant gift is intended to expedite the development of ibogaine as a treatment for serious mental illnesses, particularly among veterans. The 1994 application represents the foundational authorization that enabled early research into the psychedelic substance. Trump made this announcement via Truth Social, highlighting its importance for accelerating medical treatments in the U.S. This action directly supports an April executive order he signed, which aimed to speed up access to psychedelic therapies for mental health conditions. The president emphasized that this move is crucial for helping veterans and other Americans suffering from serious mental illness. He noted that the university's donation builds upon existing efforts, including research funding and inter-agency collaborations. Trump stressed the urgency of bringing potential new treatments to market quickly. He expressed hope that more organizations will join this critical initiative to support veterans. Health Secretary Robert F. Kennedy Jr. has been a vocal supporter, calling ibogaine a highly promising treatment for depression and PTSD.

https://www.zerohedge.com/medical/huge-trump-hails-ibogaine-application-gift-aimed-helping-veterans-mental-illness zerohedge.com

RSS Hunter • Yesterday

La-Z-Boy Crashes Most Since 2022 As Frozen Housing Market Crushes Sofa Demand

La-Z-Boy shares experienced their sharpest decline in four and a half years due to disappointing second-quarter guidance. This indicates that low housing turnover is significantly impacting demand for large discretionary items like furniture. Elevated mortgage rates and high home prices have severely constrained housing affordability, depressing transaction volumes. This consequently limits the replacement purchases that typically drive furniture sales.La-Z-Boy projected second-quarter sales of $475.7 million, a 3% decrease year-over-year, falling substantially short of analyst estimates. The company also forecasted soft adjusted and reported operating margins for the quarter. Bradley Thomas, an analyst at KeyBanc Capital Markets, attributed the lower guidance partly to continued investment.This weak outlook follows a first quarter where adjusted earnings per share were 43 cents, below both the previous year’s 47 cents and analyst estimates. On a reported basis, La-Z-Boy incurred a loss of 6 cents per share. The 14% stock plunge reflects investor concerns that households are delaying discretionary spending, a trend expected to persist as mortgage rates remain high.The broader implication is that poor housing market conditions are also affecting home improvement retailers like Home Depot and Lowe's, and other major household goods retailers such as Wayfair, RH, and Williams-Sonoma. La-Z-Boy serves as further evidence that America's stagnant housing market continues to suppress consumer demand for big-ticket purchases. This trend aligns with recent disappointing retail sales figures, particularly in discretionary categories, and the ongoing impact of rising gasoline prices on consumer sentiment.

https://www.zerohedge.com/markets/la-z-boy-crashes-most-2022-frozen-housing-market-crushes-sofa-demand zerohedge.com

RSS Hunter • Yesterday

WTI Rises As Distillate Stocks Draw, Cushing Back Near 'Tank Bottoms', SPR At 43-Year Lows

Oil prices are experiencing sideways to modest gains for the second consecutive day. Traders are considering the impact of the 'dark fleet' on oil transits and renewed Middle East tensions. These factors are creating uncertainty about supply through the Strait of Hormuz. Analysts believe these geopolitical concerns and a protracted "closed for longer" scenario are supporting oil and refined product prices. Global inventories continue to decline, reducing the buffer for supply shortages. This makes every report on supply and production, especially for refined products, significant. Official data showed a substantial crude inventory build, while Cushing stocks experienced a draw. Product inventories were mixed, with distillates declining for the third week. Cushing's low stock levels are notable, and the Strategic Petroleum Reserve (SPR) continues to be drained, reaching 1983 lows. US crude production is increasing, approaching record highs due to rising rig counts. While crude imports eased, shipments from Venezuela remain strong. The current market focus is on refined products, particularly diesel, whose prices have surged due to supply disruptions from the Russia-Ukraine conflict, impacting consumers and contributing to inflation.

https://www.zerohedge.com/energy/wti-rises-distillate-stocks-draw-cushing-back-near-tank-bottoms-spr-43-year-lows zerohedge.com

RSS Hunter • Yesterday

Fuel Rationing Reaches Moscow Amid 'Second Wave' National Shortages

Ukraine has intensified its drone campaign against Russia for months, primarily targeting oil refineries and industrial sites. Recently, these attacks have extended to online retail and private businesses. One of the largest drone waves hit the Moscow region with approximately 600 drones, causing panic and casualties. Compounding the issue, fuel sales restrictions have been implemented at Moscow gas stations, a rare occurrence for the capital. Major oil companies like Gazprom Neft and Tatneft have confirmed limits on gasoline and diesel purchases per customer. Rosneft, Russia's largest oil producer, also imposed a limit on gasoline sales nationwide. The companies cite "unscheduled refinery maintenance" as a reason for delays, implicitly acknowledging damage from Ukrainian drone attacks. This past Wednesday, Ukrainian drones reportedly struck an oil refinery and a residential building in Bashkortostan, demonstrating the drones' considerable range. Russian officials have begun acknowledging a renewed fuel shortage crisis, described as the "second wave" of shortages this year. The impact of these attacks is leading to long queues and frustration at gas stations across Russia.

https://www.zerohedge.com/energy/fuel-rationing-hits-moscow-amid-second-wave-national-shortages zerohedge.com

RSS Hunter • Yesterday

SK Hynix Unleashes South Korea's Biggest-Ever 'Buyback Bazooka' To Halt Stock Rout

Asian equities experienced a sharp decline, led by Japan, South Korea, and Taiwan, amid a worsening semiconductor sector downturn. Chinese stocks also weakened, despite a notable IPO. In response to a significant selloff in its shares, SK Hynix announced a record-breaking 40 trillion won ($28.6 billion) share buyback program. The company believes its intrinsic value is not reflected in its current stock price due to factors like rising bond yields and inflation impacting the semiconductor industry. SK Hynix's management expressed concern that the stock's decline has become disconnected from the company's fundamentals. This buyback is intended to arrest the six-week selloff that has halved the company's market value and to improve shareholder value. The program involves purchasing treasury shares in the open market. SK Hynix also stated its financial health targets remain on track and reaffirmed its commitment to a stable financial structure. The announcement came after SK Hynix's stock dropped nearly 10%, alongside a significant decline in Samsung Electronics and the broader Kospi index. Analysts suggest rising energy prices and interest rates are driving a rotation out of semiconductor stocks. The SK Hynix buyback is the largest treasury share cancellation by a South Korean-listed company, aligning with government efforts to address the "Korea discount." Analysts believe this buyback is likely the beginning of further capital returns, including potential dividend increases and future share buybacks.

https://www.zerohedge.com/markets/sk-hynix-unleashes-south-koreas-biggest-ever-buyback-bazooka-halt-stock-rout zerohedge.com

RSS Hunter • Yesterday

DOE Cancels 3 National Transmission Corridors, Citing "Green New Scam"

The U.S. Department of Energy will not proceed with designating three proposed National Interest Electric Transmission Corridors. Secretary Chris Wright stated the corridors were selected to advance a "Green New Scam agenda" and do not serve the public interest. He believes transmission policy should prioritize the American people over special interests or a climate agenda that increases costs and reduces reliability. The DOE cited the current designation framework as ineffective in strengthening grid reliability and reducing costs, causing confusion in some communities. The cancelled corridors were the Lake Erie–Canada Corridor, the Southwestern Grid Connector Corridor, and the Tribal Energy Access Corridor. These projects aimed to improve resource adequacy, interregional connections, and tribal energy development. A NIETC designation normally unlocks federal financing and allows FERC to permit transmission lines where state authorities are unable to act. While R-CALF USA praised the decision due to concerns about livestock operations and grazing lands, groups like the Environmental Defense Fund and Clean Air Task Force criticized the cancellation. They argue that weakening federal frameworks hinders the construction of necessary grid infrastructure. Environmental groups pointed to a DOE study indicating NIETC designations enable valuable federal financing and permitting tools. The DOE mentioned the Trump administration has previously supported transmission infrastructure through billions in loans.

https://www.zerohedge.com/markets/doe-cancels-3-national-transmission-corridors-citing-green-new-scam zerohedge.com

RSS Hunter • Yesterday

Here Comes QE Lite: Yields, Dollar Tumble, Gold Spikes After Treasury Unexpectedly Doubles Size Of Long-End Treasury Buybacks

For years, market watchers debated whether Treasury buyback auctions were a form of soft quantitative easing. This website consistently argued they were not, despite claims from some financial commentators. The Treasury had previously stated its buyback programs were not quantitative easing. They even increased the total liquidity buyback amount over time, still maintaining it was not QE.The debate has now been seemingly resolved by an announcement from the US Treasury. With long-term yields reaching multi-year highs, the Treasury decided to significantly increase the size of its liquidity support buyback operations. Specifically, the maximum size per operation for longer-dated nominal coupon securities will at least double from $2 billion to $4 billion.This change will take effect in September and continue for the remainder of the refunding quarter. The Treasury cited strong market demand and the need to provide greater liquidity support in longer-dated sectors as reasons for the increase. However, the author interprets this move as a reaction to market panic, suggesting the liquidity justification is a pretext.The piece asserts that Treasury Secretary Scott Bessent likely implemented this change due to concerns about demand for Treasuries being crowded out by investments in areas like AI. The market reacted immediately and strongly to the announcement. Long-term Treasury yields dropped sharply, while equity futures and gold prices surged.This event highlights the increasing total US debt, which is approaching $40 trillion. The author concludes that the situation for US debt is likely to worsen from this point forward.

https://www.zerohedge.com/markets/here-comes-qe-lite-yields-dollar-tumble-gold-spikes-after-treasury-unespectedly-doubles zerohedge.com

RSS Hunter • Yesterday

Another AI Reacharound? Marvell Shares Rip On Chips-For-Warrants Deal With Google

Marvell's stock price surged following an announcement of an expanded chip-development partnership with Google. This collaboration focuses on custom AI chips and will encompass a broad range of silicon programs within Google's TPU ecosystem. Google has been granted a warrant allowing them to purchase up to $12.2 billion worth of Marvell shares at a fixed price. A portion of these shares will vest within the first year of the warrant's execution. The remaining shares are contingent on discretionary purchases and revenue generated from jointly developed products, with vesting tied to specific revenue milestones. Investors reacted favorably, viewing the deal as strategic validation for Marvell's custom silicon capabilities and data center platform. The agreement enhances Marvell's position as a crucial custom silicon partner for hyperscalers. The equity vesting tied to revenue milestones aligns both companies for substantial long-term commercial growth. This arrangement provides significant multi-year revenue visibility, projected through fiscal year 2033. Essentially, the deal functions as an off-balance-sheet method for Marvell to secure chip supply and for Google to guarantee future access. In contrast, Broadcom, a significant Google TPU partner, saw its stock decline following the news.

https://www.zerohedge.com/technology/another-ai-reacharound-marvell-shares-rip-chips-warrants-deal-google zerohedge.com

RSS Hunter • Yesterday

Trump Pauses 50% Canada Tariffs At 11th Hour, Declares "We Have A Deal"

President Trump announced a last-minute pause on 50% tariffs scheduled to be imposed on Canadian goods. He declared on social media that a trade deal has been reached with Canada, pending final documentation. The tariffs, which would have impacted approximately $20 billion in exports, have been delayed for three days, easing North American trade tensions. The United States Trade Representative stated the deal includes comprehensive market access for American goods and economic security commitments. A White House proclamation indicated Canada agreed to remove discriminatory treatment on U.S. automobiles, dairy, and alcohol. However, Canadian Prime Minister Mark Carney offered a more reserved assessment, noting substantial progress but also ongoing work. Analysts expressed caution, emphasizing the need for specific details regarding the agreement's terms and enforcement. Key sticking points like auto and lumber tariffs remained, with Canada seeking exemptions and relief. The outcome is seen as a significant political test for Prime Minister Carney. While Trump hinted at the revival of the Keystone XL pipeline, its future remains uncertain.

https://www.zerohedge.com/economics/trump-pauses-50-canada-tariffs-11th-hour-declares-we-have-deal zerohedge.com

RSS Hunter • Yesterday

Futures Flat With All Eyes On Interest Rates And Oil

Futures are mixed, with tech stocks seeing a boost from a significant buyback program by SK Hynix. This Hynix news reversed an earlier decline in the Nikkei and positively impacted memory and Korea ETFs. S&P futures are slightly positive, while Nasdaq futures are down modestly. In premarket trading, semiconductors and major tech companies are up, while software firms are weaker. The market is undecided on direction, with both cyclical and defensive stocks showing mixed performance. Bond yields are flat to slightly down, and the US dollar is weaker. Commodities are experiencing gains, with Brent crude briefly surpassing $92 per barrel. Today's economic focus includes a 20-year bond auction and the release of the Federal Reserve's meeting minutes. Moderna shares surged significantly following positive trial results for its cancer vaccine, with Merck also seeing gains. Estée Lauder's stock climbed after exceeding earnings expectations, indicating progress in its turnaround efforts. Conversely, La-Z-Boy experienced a sharp decline due to a weaker-than-expected sales forecast.

https://www.zerohedge.com/markets/futures-flat-all-eyes-interest-rates-and-oil zerohedge.com

RSS Hunter • Yesterday

UAE Cuts Ties As Iran Warns Gulf States Against Helping Washington; Kpler Says US Navy Gaining Ground In Hormuz

Iran's parliament speaker is visiting Baghdad amid discussions between US officials and UAE National Security Advisor regarding the Hormuz situation. President Trump has stated there are no talks scheduled with Iran and is pursuing a strategy to economically "strangle" the nation. The Iranian speaker criticized the US approach, calling its treasury and war secretaries ineffective. Iran has adopted an offensive military posture and warned Gulf nations against assisting US forces, viewing it as participation in a war. The UAE has severed all economic ties with Tehran following an alleged ballistic missile barrage from Iran, which Iran denies. Reports suggest Iran might consider attacking US military targets in Europe if the conflict escalates. Despite projecting resilience, Iranian leaders are concerned about increased hardships from potential US sanctions. Attacks on shipping in the Strait of Hormuz continue without a clear US response, frustrating some Arab allies. However, some analysis suggests the US Navy is gaining ground in the Strait, with Iran losing control. International shipping remains cautious about returning to the waterway due to ongoing risks.

https://www.zerohedge.com/geopolitical/uae-cuts-ties-iran-warns-gulf-states-against-helping-washington-kpler-says-us-navy zerohedge.com

RSS Hunter • Yesterday

Hellish: Ceuta Mothers Weep In Streets; Rapes Force Women To Flee; Kids' Parks Smeared In Shit

Spanish mothers in Ceuta are distraught due to a mass migrant invasion from Morocco that has overwhelmed hospitals and public spaces. Beaches and parks are now littered with garbage and makeshift shelters. The Civil Guard has confirmed at least 15 rapes, including an alleged assault on a 10-year-old girl by migrant brothers. Many women are leaving the city, feeling abandoned by their government while the Prime Minister is on vacation. One mother tearfully expressed her fear for her teenage daughter, stating she cannot let her daughter go anywhere alone. She clarified her concerns were not about race or religion but about the criminal element among the migrants. The city's infrastructure collapsed, with reception centers overflowing and thousands of mostly young men remaining. Beaches have become settlements, described as unsanitary and unusable for families. Children's parks are covered in human waste, contradicting claims of returning normality. Infectious diseases like scabies and tuberculosis have surged, leading to the opening of an emergency hospital wing and warnings of a health catastrophe. A doctor attempting to discuss the health crisis with the migration minister was reportedly ignored. Another doctor described hospitals as overrun, medicines scarce, and staff fearful, highlighting the government's abandonment of its citizens. Two sisters fled with their daughters due to fear, feeling humiliated and neglected by the government. Other residents report needing escorts for safety and even finding migrants in their homes. A bank had to close due to security concerns after a guard was beaten while preventing a robbery of an elderly woman. Pregnant residents feel unsafe due to fights and call for stronger government action. Residents urged government officials to witness the reality of their situation, feeling dismissed by those in urban centers. Mothers are demanding the school year be delayed and schools be fumigated due to unsanitary conditions. Another mass crossing attempt was repelled by security forces. Migrants remaining from the first wave are protesting for asylum and transfer to mainland Europe, with NGOs reportedly assisting them. Some liberal women are seen welcoming the new arrivals, contrasting with the fear of local mothers. The article questions the asylum claims of many, labeling them as economic migrants rather than refugees fleeing war. Footage shows new arrivals chanting "Allahu Akbar" upon landing, raising further concerns among residents.

https://www.zerohedge.com/geopolitical/hellish-ceuta-mothers-weep-streets-rapes-force-women-flee-kids-parks-smeared-shit zerohedge.com

RSS Hunter • Yesterday

Buying Bullsh*t In "4 Easy Payments"

The author has consistently viewed the buy now pay later (BNPL) sector as a poor financial idea. Recent signs suggest this sector is facing difficulties, with a large company experiencing issues. As consumer savings dwindle and loan delinquencies rise, more negative reports are expected from BNPL companies. The core of BNPL is essentially lending to those with insufficient funds, often for trivial purchases. This practice represents financial distress rather than innovation. Credit is typically for bridging income gaps for significant purchases, but BNPL for everyday items signals deeper financial problems. The author argues BNPL has evolved into a digitally optimized form of payday lending or high-risk consumer finance. While technology and branding change, the fundamental economics of lending remain constant. BNPL businesses can appear strong during economic expansions but falter when economic conditions tighten. Subprime credit trends, like consumers financing small purchases, can be an early indicator of economic weakness. Klarna's recent report showed surprising quarterly profit but also a lowered future revenue outlook, causing its stock to drop significantly. This indicates markets are more concerned with future prospects than past performance. The increasing reliance on BNPL for everyday spending, even for small amounts, suggests deteriorating household liquidity. Leadership changes at Klarna further fueled market concerns about its future. The author sees Klarna's situation as evidence of consumer financial strain, not just an isolated company issue. The true test of a credit model lies in its performance during economic downturns, not just during growth periods. Financing small, everyday items due to a lack of funds is a sign of distress, not convenience. The author believes the current stock market exhibits bubble characteristics, with BNPL being a concern. Ultimately, the BNPL revolution might be built on the age-old practice of lending to those with limited means.

https://www.zerohedge.com/markets/buying-bullsht-4-easy-payments zerohedge.com

RSS Hunter • Yesterday

Holy Grail In Cancer Treatment? Moderna Erupts After Melanoma Vaccine Late-Stage Trial Success

Moderna's stock surged significantly in premarket trading following positive Phase 3 trial results for their personalized cancer vaccine. This experimental treatment, developed with Merck & Co., targets melanoma and showed a reduced risk of recurrence. The vaccine, called intismeran autogene, was tested in combination with Merck's immunotherapy drug Keytruda. This combination improved recurrence-free survival compared to Keytruda alone. It also met a secondary goal by decreasing the risk of cancer spreading. This marks the first successful late-stage trial for a personalized cancer vaccine from any company. Experts believe this could establish a new standard of care for adjuvant melanoma treatment. While exact efficacy figures were not released, further details are forthcoming. Regulatory approval could potentially occur as early as 2027. The trial results have also boosted Merck's stock price.

https://www.zerohedge.com/markets/holy-grail-cancer-treatment-moderna-erupts-after-melanoma-vaccine-late-stage-trial-success zerohedge.com

RSS Hunter • Yesterday

Georgia Man Deported From Fiji Charged Over $165 Million Crypto Ponzi Scheme

A Georgia man, Edward Zimbardi, appeared in a Los Angeles federal court facing wire fraud and money laundering charges. He is accused of operating a Ponzi scheme that defrauded thousands of investors of over $165 million. Zimbardi allegedly promised investors guaranteed monthly returns through a "Crypto Program." Investors sent cryptocurrency to digital wallets purportedly controlled by Zimbardi. Instead of investing in advertising packages, Zimbardi reportedly used funds for risky currency trades and to pay earlier investors. He also allegedly spent millions on personal expenses like a house and luxury vehicles. When the scam collapsed, Zimbardi fled the U.S., eventually landing in Fiji. Fijian authorities deported him to the U.S. to face federal charges. Zimbardi is indicted on multiple counts of wire fraud and money laundering. The FBI is seeking information from potential victims to assist their investigation.

https://www.zerohedge.com/crypto/georgia-man-deported-fiji-charged-over-165-million-crypto-ponzi-scheme zerohedge.com

RSS Hunter • Yesterday

Jeff Currie: Forget $91 Brent, The Real Crisis Is $170 Diesel

Jeff Currie argues that focusing solely on crude oil prices, currently around $90.94 for Brent, is misleading. He emphasizes that consumers do not use crude oil directly; instead, they purchase refined products like gasoline, diesel, and jet fuel. These refined fuel markets are experiencing a significant shock, with European diesel trading at nearly double the price of Brent crude. This indicates a breakdown in the historical correlation between crude and refined product prices. A recent surge in crude supply trapped in the Strait of Hormuz and China's subsequent reduction in refinery runs exacerbated this issue. This situation has shifted the shortage downstream, from crude to refined products. Currie suggests that past government strategies of releasing strategic reserves to manage market perceptions are no longer effective due to the current disruption's scale and duration. The immediate impact is evidenced by substantial price increases in gasoline and diesel, which directly affect transportation and industrial costs. He anticipates that refiners will eventually increase their operations to capitalize on high margins, correcting the dislocation. However, until this correction occurs, the seemingly stable crude oil price presents a false sense of security to investors, as consumers are already facing the brunt of the energy shock.

https://www.zerohedge.com/energy/jeff-currie-forget-91-brent-real-crisis-170-diesel zerohedge.com

RSS Hunter • Yesterday

7 Federal Agencies & Big Pharma Quietly Built A Pandemic-Industrial Complex

Federal agencies and pharmaceutical companies have quietly established a system called the Pandemic-Industrial Complex. This complex was formalized in 2006 with the creation of the Public Health Emergency Medical Countermeasures Enterprise, or PHEMCE. PHEMCE centralized seven federal agencies across four departments, including HHS, DOD, DHS, and VA. Private industry, such as pharmaceutical manufacturers and biotech companies, was explicitly integrated into this structure. The government aimed to increase industry access, streamline regulations, and offer liability protections to encourage investment. Documents reveal this apparatus spans from threat detection to product deployment and use. A significant concern is when government bodies defining threats are also funding research, regulating products, and managing their purchase and distribution. The author suggests that research within this biodefense ecosystem could potentially create the very threats it is designed to counter. Some intelligence agencies and even HHS itself have acknowledged the possibility of laboratory incidents involving engineered pathogens. DARPA programs exemplify this architecture, moving from predicting viral evolution to developing sequence-based pharmaceuticals. PHEMCE's strategy encompasses surveillance, research, development, acquisition, storage, deployment, and utilization of medical countermeasures. The government justified this centralization by citing biological threats and demanding unprecedented cooperation. Private industry was brought in because of market uncertainties, with HHS promising to remove obstacles and provide liability protections. HHS viewed the lifecycle of a countermeasure, including its storage and deployment, as a benefit. The 2007 implementation plan outlined an "end-to-end" approach for the mission, naming the involved agencies and detailing a threat-to-product sequence. Government procurement was intended to "drive industrial development," and NIH was directed to align its research with PHEMCE priorities. The central conflict highlights how the same system can define a threat, fund research, dictate product requirements, involve industry, influence regulation, create a market, purchase products, and organize deployment. The hypothesis that COVID-19 originated from a laboratory incident involving coronavirus research raises profound questions about accountability within this interconnected system. The author questions who will independently investigate a system potentially implicated in causing a global catastrophe.

https://www.zerohedge.com/medical/7-federal-agencies-big-pharma-quietly-built-pandemic-industrial-complex zerohedge.com

RSS Hunter • Yesterday

Saudis Offer To Sell Oil Near Oman, A Sign They're Sailing Dark Through Hormuz

Saudi Arabia has resumed sending oil tankers directly through the Strait of Hormuz after a three-week pause. Crude loadings at its Ras Tanura and Juaymah terminals have recommenced, with several Very Large Crude Carriers (VLCCs) already loaded. The kingdom is also exploring ship-to-ship transfers off the coast of Oman, indicating a shift back towards using the Strait. These barrels are likely sourced from within the Persian Gulf and are being offered to Chinese refiners. Middle Eastern producers are continuing to move large volumes of crude, helping to stabilize oil prices. Saudi Arabia’s ability to divert exports to its Red Sea port of Yanbu had previously reduced reliance on the Strait. However, this alternative route now faces threats from Houthi militants imposing a maritime blockade. Recent activity shows a significant pickup in cargo loadings from Saudi facilities within the Persian Gulf. A large fleet of Saudi-controlled oil supertankers has also gathered off the UAE and Oman, suggesting potential future use for Hormuz transits. This marks a change of strategy following attacks on Saudi tankers during increased U.S.-Iran tensions. Despite the resumption of Strait traffic, Saudi exports are not fully back to normal. Ship-to-ship transfers continue to be offered, allowing buyers to avoid direct passage through Hormuz. The Red Sea diversion route has also become less viable due to higher costs and reduced capacity.

https://www.zerohedge.com/energy/saudis-offer-sell-oil-near-oman-sign-theyre-sailing-dark-through-hormuz zerohedge.com

RSS Hunter • Yesterday

Sovereign Debt Crisis: The French Left Wants To Simply Burn The Debt

Socialists, according to the author, view their primary challenge as securing credit for ambitious state-led projects. They ideally operate in a zero-interest-rate environment where even questionable ventures can be debt-financed. This artificial credit, the author argues, is disguised by propaganda, leading citizens to question economic stagnation while state apparatus expands. French socialist Jean-Luc Mélenchon's proposed solution involves unchecked government debt accumulation, with the European Central Bank acting as a "bond landfill" to neutralize these securities. Mélenchon suggests these neutralized bonds could then be "burned" on balance sheets, effectively erasing debt and creating a socialist paradise of unlimited possibilities. The author criticizes this approach, stating it ignores finite resources and existing distribution problems. He contends that the European Central Bank has already been pursuing such an illusory policy since the sovereign debt crisis. The text further questions the central bank's true market control, highlighting their influence at the short end of bond markets. Mélenchon's plan for common European bonds, stabilized by the ECB, is presented as another economically incompetent idea. The author argues Mélenchon's concept of the ECB buying French debt equates to France owing itself credit, which can then be canceled. This, the author states, is economically nonsensical and a catastrophic breach of trust leading to inflation. The author highlights current state spending on conflicts, climate policy, and migration as examples of this credit pump in action. He suggests Mélenchon's proposals indicate political camps are heading towards sovereign bankruptcy, with German politics potentially supporting Eurobonds. The "Next Generation EU" project is cited as a precursor to common debt, primarily benefiting fiscally weaker nations. The author concludes that a European military sector and green initiatives will necessitate further common debt, pushing countries like Germany towards excessive subsidies and tax increases, ultimately leading to a financial crash, capital controls, and financial repression.

https://www.zerohedge.com/economics/sovereign-debt-crisis-french-left-wants-simply-burn-debt zerohedge.com

RSS Hunter • Yesterday

The Super El Niño To Beat All Others?

The World Meteorological Organization forecasts a significant El Niño event, predicting a sea surface temperature anomaly of +2.9° Celsius in the Pacific indicator area. This projected anomaly is the strongest since record-keeping began in 1950. Such an extreme El Niño could bring wet and stormy weather to the southern United States starting in late fall, potentially increasing snowfall in affected areas. Conversely, the Pacific Northwest is expected to experience a dry winter due to this phenomenon. Globally, El Niño may lead to severe drought conditions in the Amazon and parts of Africa, while increasing rainfall in South America, Central Asia, and the Horn of Africa. Previous strong El Niño events, reaching at least +2° Celsius anomalies, occurred in 1982, 1997, and 2015. The current "Super El Niño" is notable for its potential strength and earlier onset. Ocean temperatures are expected to continue rising and peak in November. The last major El Niño in 2015 resulted in a record cyclone season in the central Pacific and a severe drought in the Caribbean. This event also contributed to 2015 being the hottest year on record at that time and caused a devastating drought in Ethiopia and massive wildfires in Indonesia.

https://www.zerohedge.com/weather/super-el-nino-beat-all-others zerohedge.com

RSS Hunter • Yesterday

The Case For Britain Backing Its North Sea Oil & Gas Industry

Jackdaw and Rosebank projects are presented as crucial for enhancing UK energy security through increased domestic oil and gas production. These projects are projected to stimulate billions in investment and create thousands of jobs across the UK's offshore supply chain. Continued North Sea production is argued to decrease import reliance and maintain vital engineering skills necessary for renewable energy sectors. The author poses a direct choice for ministers: produce more oil and gas domestically, or import more, which is more expensive and generates higher emissions. Despite the urgency of climate action, the UK will require oil and gas for years to come, meeting approximately 75 percent of its current energy needs. Jackdaw alone could significantly contribute to the UK's gas supply, heating millions of homes. The economic benefits are substantial, with considerable investment already made and significant future contributions expected in economy and tax revenues. Approving these projects would also signal the UK as a credible investment destination and support a vast supply chain network. It is argued that halting domestic production will lead to increased imports, weakening industrial capacity and skilled workforces. Furthermore, domestic production emissions are significantly lower than imported liquefied natural gas. Approving Jackdaw and Rosebank would unlock further North Sea investment, securing jobs, tax revenues, and energy security. Ultimately, supporting North Sea production during the transition is framed as a responsible strategy for achieving net zero, not a retreat from it.

https://www.zerohedge.com/energy/case-britain-backing-its-north-sea-oil-gas-industry zerohedge.com

RSS Hunter • Yesterday

Germany Opens New Drone Security Center Amid Fears Of Russian Hybrid Warfare

European officials have expressed concerns about Russian hybrid and sabotage warfare targeting Europe, particularly in light of the ongoing Ukraine war. A recent drone incident near Leipzig Airport, where an explosive-laden drone was found, heightened these worries. Reports indicate the drone was intended for an aircraft belonging to Antonov Airlines, a Ukrainian cargo carrier. This event follows a pattern of mysterious drone incidents at European aviation hubs. While some incidents may be minor, EU officials suspect Russian-linked malicious actors. In response, Germany is enhancing its anti-drone security measures. The country has established its first major drone security research center, the Drone Security Technology Center, as part of the German Aerospace Centre. This new facility, located in Cochstedt, will focus on developing technology to detect and counter hostile drone activity. German Interior Minister Alexander Dobrindt described the drone threat as part of a modern "shadow war." The center aims to be a unique national facility for researching and testing innovative drone security technologies. It will provide a crucial platform for testing drones and counter-drone systems in real-world conditions and diverse scenarios.

https://www.zerohedge.com/geopolitical/germany-opens-new-drone-security-center-amid-fears-russian-hybrid-warfare zerohedge.com

RSS Hunter • Yesterday

Alexander Vindman Suffers Double-Digit Loss To Socialist Angie Nixon In Florida Senate Primary

Alexander Vindman, a prominent figure in the Russiagate investigation, has lost his bid for a Florida Senate seat. He was defeated in the Democratic primary by Angie Nixon, a Democratic Socialist. Nixon secured 56% of the vote compared to Vindman's 44%. Both sought to challenge incumbent Republican Senator Ashley Moody. Nixon, a state representative, was not widely expected to win against Vindman, an immigrant who raised significantly more campaign funds. Nixon, whose platform includes Medicare for all and affordable housing, celebrated her victory by emphasizing the power of organized people. Senate leaders acknowledged Nixon's win, highlighting her dedication to working families. During the campaign, Nixon criticized Vindman's recent residency in Florida. Nixon has also been vocal about her stance on the conflict in Israel and Palestine, advocating for a ceasefire and expressing support for withholding military aid to Israel. She maintains that her views are not antisemitic.

https://www.zerohedge.com/political/alexander-vindman-suffers-double-digit-loss-socialist-angie-nixon-florida-senate-primary zerohedge.com

RSS Hunter • Yesterday

We're All On Borrowed Time...

The author is undergoing surgery to remove a sinus tumor, a recurrence of cancer from 2020. His medical team, previously encountered during his first cancer battle, is optimistic about saving his life again. However, the planned treatment will likely eliminate his ability to enjoy his extensive Italian wine collection. This realization prompts him to reflect on other aspects of his life he may have neglected.Following his initial cancer diagnosis, the author adopted a more focused approach to his professional and personal life. Professionally, he learned to offer advice concisely, prioritizing critical issues. Personally, he prioritized his children's significant life events, even re-scheduling important work commitments to attend them. He deeply regrets not taking more vacations and celebrating anniversaries with his wife.He also intends to read more books, lamenting the time lost to social media. The author plans to increase his charitable involvement and deepen his faith and worship practices. Attending live music events with his family is another priority he aims to solidify. The upcoming surgery and recovery will be challenging, but he is making a list of life priorities for his future. He encourages readers to appreciate their own lives and not postpone joy.

https://www.zerohedge.com/personal-finance/were-all-borrowed-time zerohedge.com

RSS Hunter • Yesterday

Why Are So Many Democrats Being Arrested On Fraud Charges?

A pattern of Democrat officials facing fraud charges is emerging, with incidents appearing to be increasing. Lawrence, MA Mayor Brian DePeña was arrested and federally charged with wire fraud and unlawful monetary transactions for allegedly misusing COVID-19 relief funds for his business. These funds were reportedly used for his political campaign and personal debts. This arrest follows the conviction of former New Mexico Democrat House leader Sheryl Williams Stapleton for diverting millions in school funds and receiving kickbacks. The article suggests politics, especially for Democrats, is becoming a criminal enterprise, with recent cases often involving COVID relief funds. U.S. Rep. Sheila Cherfilus-McCormick was also arrested for allegedly stealing millions in FEMA disaster relief, with funds reportedly used for personal items and her campaign. The author posits that with increased scrutiny, these alleged wrongdoings are now being exposed. While acknowledging that some Republican officials have also faced charges, the article emphasizes the scale of alleged fraud involving Democrats. The pandemic is characterized as a significant financial opportunity for Democrats, with funds allegedly channeled into campaign operations. The author suggests that the failure of the "Biden regime" to maintain power has led to this increased scrutiny of actions taken between 2021 and 2024.

https://www.zerohedge.com/political/why-are-so-many-democrats-being-arrested-fraud-charges zerohedge.com

RSS Hunter • Yesterday

Where Have All The Conservatives Gone?

Stephanie Slade's book "Fusionism" examines the fragmented New Right and proposes a revival of fusionism to address conservatism's current challenges. The Republican Party has deviated from its traditional principles of limited government and rule of law. Instead, the New Right, encompassing national conservatives, theocons, and neoreactionaries, advocates for populist interventionism. National conservatives aim to use state power for conservative ends, while theocons desire a theocratic state. Neoreactionaries promote vitriol and conspiracy theories. This "Dissident Right" is contrasted with the interventionist excesses of American socialism, including DEI and cancel culture.Fusionism historically represented the alliance of conservatives and libertarians against collectivism and the welfare state. Slade's analysis explores the factors contributing to the rise of the Dissident Right, such as disillusionment with globalization and the administrative-welfare state. The author argues that the persistent expansion of the American administrative-welfare state is the primary culprit behind these trends. A decline in educational standards and increased cronyism have further exacerbated societal problems. A notable shift has occurred in public discourse, moving from reasoned oratory to simplistic pronouncements.Slade suggests a renewed fusionism as a solution to potentially save the Republic. The author contends that the term "Dissident Right" is a misnomer, as this movement diverges from traditional conservative principles by advocating for a stronger central government. Classical liberals find themselves in a difficult position, facing opposition from both the paternalistic Left and the interventionist Dissident Right. The essay concludes by lamenting the scarcity of defenders for liberty, limited government, and free markets, questioning the whereabouts of traditional pro-business, small-government conservatives.

https://www.zerohedge.com/political/where-have-all-conservatives-gone zerohedge.com

RSS Hunter • Yesterday

Illegal Immigrant Killer Found Not Guilty By Insanity, Flees US During Hospital Leave

An illegal immigrant, Abdulloi Toshpulodzoda, found not guilty by reason of insanity for a 2019 killing, escaped the US on a one-way flight to Tajikistan. He was on an approved 48-hour pass from a state mental health facility when he fled. Toshpulodzoda had been committed to the facility after killing his landlord and was covered in the victim's blood. A Fairfax County judge had recently ruled that he still required hospitalization. This was not the first time he had been allowed outside of a secured ward without escort. Prosecutors in Fairfax County, led by Steve Descano, who receives funding from George Soros, are facing criticism for their approach to insanity pleas for violent illegal immigrants. Descano's office has pursued insanity agreements in numerous murder cases, and he has faced recall efforts over his record. A spokesperson for Descano's office stated that independent evaluators found Toshpulodzoda legally insane, leaving no path to conviction. This case is part of a pattern flagged by a group concerned about violent defendants, including illegal immigrants, being funneled toward insanity findings. The disappearance of Toshpulodzoda follows another instance where an accused killer was declared legally insane under an agreement with Descano's office. The Justice Department is investigating whether Descano's office provides preferential treatment to illegal immigrants.

https://www.zerohedge.com/political/illegal-immigrant-killer-found-not-guilty-insanity-flees-us-during-hospital-leave zerohedge.com

RSS Hunter • Yesterday

Minority Leader Jeffries Drops The Mask, Signals Democrats Are Coming For The Court

House Minority Leader Hakeem Jeffries has openly discussed various options for reforming the Supreme Court, a departure from previous Democratic caution. These options include expanding the number of justices and implementing term limits. Jeffries has also described the Court as a "subsidiary of the MAGA Republican Party." This follows remarks by Kamala Harris, who endorsed expanding the Court to thirteen justices. Jeffries, when pressed on the issue, emphasized the need for dramatic reform, beginning with an ethical code of conduct for justices. He specifically criticized Justices Thomas and Alito for ethically questionable behavior. Jeffries further argued that the Supreme Court has weakened the Voting Rights Act, enabling Jim Crow-like tactics. He indicated that House Democrats, led by Jamie Raskin, will develop specific reform proposals. A Senate bill proposing 18-year terms and biannual appointments has also been introduced. However, such legislation faces significant hurdles, including needing 60 Senate votes and presidential veto power. Jeffries has also alluded to changing Senate rules to allow a simple majority to pass legislation. This potential shift in power, coupled with the filibuster's potential elimination, could fundamentally alter the Supreme Court's composition and the government's functioning.

https://www.zerohedge.com/political/jeffries-drops-mask-signals-democrats-are-coming-court zerohedge.com

RSS Hunter • Yesterday

Forbes Editor Fired Over $6m Payoff Had Threatened Companies Who Dared Hire Outgoing Trump Admin Officials In 2021

Following Joe Biden's inauguration, a vindictive political climate emerged, targeting former Trump administration officials. Draconian prosecutions of January 6th protestors, many non-violent, were a notable aspect. Concurrently, groups like the Lincoln Project and the Transition Integrity Project engaged in blacklisting, publicly listing former Trump officials to impede their future employment. Forbes chief content officer Randall Lane also advocated for this blacklisting, publishing a column warning businesses against hiring Trump communicators. Lane cited numerous lies from Trump's press secretaries as justification for his stance. He argued that this administration, unlike others, normalized untruths. The article contrasts Lane's accusations with instances of perceived dishonesty from Democratic press secretaries, suggesting hypocrisy. It is revealed that Lane was subsequently fired for failing to disclose a significant payment from R.J. Shook, violating Forbes' policies. This raises questions about whether Lane was paid for his call to blacklist Trump officials. The author speculates on potential quid pro quo arrangements given Shook's interest in financial rankings. The article concludes by suggesting further investigation into potential payoffs for Lane's actions.

https://www.zerohedge.com/political/forbes-editor-fired-over-6m-payoff-had-threatened-companies-who-dared-hire-outgoing-trump zerohedge.com

RSS Hunter • Yesterday

Derek Chauvin Seeks To Dismiss Charges In Death Of George Floyd

Derek Chauvin's legal team has filed a new petition to dismiss his charges and vacate his convictions. The core argument is that the state never lawfully brought the case because a grand jury did not review the evidence. Attorney Greg Joseph alleges that Governor Tim Walz, Attorney General Keith Ellison, and the Hennepin County Attorney's Office engaged in unlawful and fraudulent conduct. The petition contends that Judge Peter Cahill presided over a due process violation by not convening a grand jury. This procedural failure, according to the filing, meant the court lacked jurisdiction over the charges. The petition also claims Walz's decision to assign the prosecution to Ellison was an unlawful appointment. It further states Ellison used unauthorized authority to add a second-degree murder charge. The filing suggests political pressure influenced the charging decisions, leading to escalation beyond what the local prosecutor supported. Chauvin is currently serving sentences for state murder and federal civil rights convictions. Joseph asserts the entire trial was a fraud based on unfounded charges and therefore unreviewable.

https://www.zerohedge.com/political/derek-chauvin-seeks-dismiss-charges-death-george-floyd zerohedge.com

RSS Hunter • Yesterday