Distinction Matter - Subscribed Feeds

  1. Site: PaulCraigRoberts.org
    3 days 21 hours ago
    Author: pcr3

    PCR and Larry Sparano Discuss the Collapse of Journalism and Law Schools into Anti-Americanism

    https://www.youtube.com/watch?v=1-9YwZv73_s 

  2. Site: PaulCraigRoberts.org
    3 days 21 hours ago
    Author: pcr3

    The Death of Palestine

    Israel approves full ‘conquest’ of Gaza 

    The reported plan includes the forced relocation of Palestinians and occupation of the territory

    https://www.rt.com/news/616801-israel-plan-gaza-conquest/  

  3. Site: AsiaNews.it
    3 days 21 hours ago
    The leader of the Nation Power Party was one of the few critical voices still free, opposed to the Hun clan, which has ruled Cambodia of 40 years. The court found him guilty of "incitement". His "crime" was that of defending peasants from land grabs and of criticising government policies.
  4. Site: Catholic Herald
    3 days 21 hours ago
    Author: John L Allen Jr/ Crux

    Each day between now and the May 7 conclave to elect a successor to Pope Francis, John Allen is offering a profile of a different papabile, the Italian term for a man who could be pope. There’s no scientific way to identity these contenders; it’s mostly a matter of weighing reputations, positions held and influence wielded over the years. There’s also certainly no guarantee one of these candidates will emerge wearing white; as an old bit of Roman wisdom has it, “He who enters a conclave as a pope exits as a cardinal.” These are, however, the leading names drawing buzz in Rome right now, at least ensuring they will get a look. Knowing who these men are also suggests issues and qualities other cardinals see as desirable heading into the election.

    ROME – At times there can be an odd dynamic to a papal election, almost like a tape delay, according to which candidates get their real bite at the apple in the conclave after the one in which they attracted the most attention.

    Such was the case for Jorge Mario Bergoglio of Argentina, who was a hot pick in 2005 and the runner-up in that conclave, yet he didn’t get elected until eight years later following the resignation of Pope Benedict XVI.

    The reason for the tape delay is often simple: age. When a candidate first bursts into prominence, they’re often judged too young, in the sense that their papacy would be too long. By the time another few years have passed they’re often right in the wheelhouse, with the ironic result that their chances go up even as conventional wisdom says their moment has already passed.

    If there’s a potential contender for whom the same tape delay dynamic might play out today, it could well be 79-year-old Cardinal Fernando Filoni, who was widely mentioned as a possibility in 2013 but has somewhat flown below radar this time around.

    Should his fellow cardinals decide to dust off Filoni’s résumé, they’d be reminded of a major selling point that came up twelve years ago: “The pope who didn’t blink when bombs fell on Baghdad.”

    The reference is to April 2003, when Filoni was serving as the papal ambassador in Iraq. At a time when other diplomats fled for safety, as well as U.N. officials and journalists, Filoni refused to leave, saying he couldn’t abandon the local Catholic community and other suffering Iraqis.

    “If a pastor flees in moments of difficulty,” he said later, “the sheep are lost.”

    Filoni remained in the country for the aftermath of the war, as Christians found themselves primary targets amid rising chaos. He refused to adopt special security measures, wanting to face the same risks as locals who didn’t have access to guards and armored vehicles. He said his aim was to be seen “as an Iraqi, by the Iraqis”. To this day, the pectoral cross he wears is a gift given to him by the Iraqi Muslim community for not abandoning them in their darkest hour.

    That choice almost cost him dearly in February 2006, when a car bomb went off outside the nunciature, demolishing a garden wall and smashing window panes, but luckily leaving no one hurt. Afterward, a Muslim contractor showed up with 30 workers to repair the damage out of respect for the solidarity Filoni had shown.

    Born in Taranto, Italy, in 1946, Filoni’s seminary studies coincided with the period of the Second Vatican Council (1962-65), and his episcopal motto is Lumen gentium Christus, recalling the council’s dogmatic constitution on the Church.

    In a 2012 interview, Filoni said one of the ways he survived the upheaval of the 1970s, when he was doing graduate study, was by living in a parish rather than a college. As a result, he said, he kept contact with the practical concerns of real people instead of getting caught up in ideological debates.

    Filoni earned doctorates in both philosophy and canon law from the Pontifical Lateran University. He also has a degree from Rome’s Libera Università Internazionale degli Studi Sociali, a prestigious secular institution, where he studied “techniques of public opinion”, specialising in journalism.

    He entered the Vatican’s diplomatic service and was posted to a series of increasingly challenging assignments. He served in Sri Lanka from 1982 to 1983; Iran from 1983 to 1985, shortly after the Khomeini revolution; Brazil from 1989 to 1992; Hong Kong from 1992 to 2001, where he opened a “study mission” on mainland China; Jordan and Iraq from 2001 to 2006; and the Philippines from 2006 to 2007.

    These were hardly pleasure cruises. Filoni was in Tehran during the bloodiest period of the Iran/Iraq war and in China for the upheaval caused by the reforms of Deng Xiaoping.

    Filoni is especially well-versed on China, given his decade in Hong Kong and his fascination with the country and its people, though he doesn’t carry any of the baggage for the controversial deal with China regarding the appointment of bishops struck under Pope Francis.

    From June 2007 to May 2011, Filoni held the all-important job of sostituto, or “substitute”, effectively the pope’s chief of staff. That aspect of his background is a mixed blessing because it means Filoni was on the scene for a couple of the more spectacular implosions of Benedict’s papacy, including the cause célèbre surrounding a Holocaust-denying traditionalist bishop in 2009 and the surreal Boffo affair in early 2010. On the other hand, most people blame Benedict’s Secretary of State, Cardinal Tarcisio Bertone, for those miscues, and give Filoni credit for trying to ameliorate them as best he could.

    From 2011 to 2019, Filoni headed the Vatican’s Congregation for the Evangelization of Peoples, giving him a broad sense of the situation of the Church in the developing world. Since 2019 he’s served as the Grand Master of the Equestrian Order of the Holy Sepulcher of Jerusalem, putting him once again in touch with the Church in the Middle East. In 2021, Filoni accompanied Pope Francis on his pastoral visit to Iraq.

    The case for Filoni?

    Many cardinals have said they want a pope with global vision, especially someone who can embrace the two-thirds of the 1.2 billion Catholics in the world today who live outside the West. Arguably, nobody among the 133 electors has broader life experience and understanding of the diverse situations around the world than Filoni.

    In addition, his long Vatican experience creates a reasonable hope that he knows where the bodies are buried and could get its operations in order. At the very least, he wouldn’t require much on-the-job training in terms of how the place works.

    In an era of deep geopolitical uncertainty, Filoni may strike many cardinals as a safe pair of hands, someone with the diplomatic background and personal experience to be able to play on the world stage and not be out of his depth.

    In general, Filoni could strike electors as a choice for broad continuity with the geopolitical and social agenda of the Francis papacy, but greater personal stability and reserve – which, frankly, might be a very attractive option.

    The case against?

    The mere fact of being a diplomat might count against Filoni with some electors, motivated by the motto “less diplomacy and more doctrine”. Concerns in this camp may be augmented by the fact that on most of the contested issues in internal Catholic life, from the blessing of persons in same-sex unions to women deacons and beyond, Filoni really doesn’t have a clear track record.

    It’s also true that aside from a few brief stints in parishes as a young priest, he has little pastoral experience and has never run a diocese. Some cardinals regard such in-the-trenches seasoning as a prerequisite, on the assumption that it’s hard to understand today’s pastoral realities if you’ve never actually served as a pastor.

    Perhaps most basically, while no one questions Filoni’s courage or integrity, there are reservations about his charisma. Some see him as a relatively grey figure, better suited to a behind-the-scenes roles than being the front man. Sceptics wonder if he would really have the capacity to inspire and to move people that’s obviously desirable in an Evangelist-in-Chief.

    For all those reasons, Filoni probably has to be considered a long shot. But every now and then, long shots do come through … and for a man who once braved American bombs, very little at this point probably would rattle him much.

    Photo: Cardinal Fernando Filoni, Pope Francis’ special envoy to Iraq, leads a mass for Easter celebrations, attended by Iraqi Christians who fled the violence in the northern Iraqi city of Mosul, on April 4, 2015 in Arbil, the capital of the Kurdish autonomous region in northern Iraq. (Photo by Safin HAMID / AFP) 

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    The post ‘Papabile’ of the Day: Cardinal Fernando Filoni, the diplomat who braved Baghdad first appeared on Catholic Herald.

    The post ‘Papabile’ of the Day: Cardinal Fernando Filoni, the diplomat who braved Baghdad appeared first on Catholic Herald.

  5. Site: PeakProsperity
    3 days 21 hours ago
    Author: Chris Martenson
    We’ve got a fat Fat Pipe today, so let’s dive in. Peak Oil Has Arrived To The U.S. And Almost Nobody Is Ready For It I beat the oil drum loudly because it’s so difficult to overstate just how vitally important it is for our future prosperity that not just the volumes of oil continue...
  6. Site: OnePeterFive
    3 days 21 hours ago
    Author: Carina Benton

    While the sede of St. Peter remains officially vacante for the next couple of days at least, it’s a unique moment to reflect very frankly on the painful pontificate of Francis without fear of being labeled a sedevacantist. In a recent op-ed for OnePeterFive, Danielle Heckenkamp urged Catholics not to “focus on the confusion and the errors of the past twelve years” and to instead marvel that God’s…

    Source

  7. Site: Zero Hedge
    3 days 22 hours ago
    Author: Tyler Durden
    American's Crypto Renaissance Is Already Failing; But We Can Fix It

    Authored by Shane Molidor via CoinTelegraph.com,

    For years, launching a crypto project in the United States has been a maze of uncertainty. Legal ambiguity and a hostile regulatory environment have driven founders offshore, turning places like Switzerland and the Cayman Islands into global hubs for blockchain innovation. 

    With Trump’s election, things finally started to change, with a US administration openly declaring its intention to be crypto-friendly. Yet, despite the rhetoric, nothing concrete has changed so far.

    Launching a crypto project in the US is just as difficult as ever. US regulatory agencies continue to offer nothing but vague threats and “regulation by enforcement” lawsuits. America wants to be a leader in crypto, but, even under the Trump administration, it isn’t taking action to create the conditions that would make that happen. 

    Killing crypto in America

    Every crypto project faces the same fundamental problem: Achieving decentralization is critical to avoid regulatory scrutiny, but until a project launches its token, a degree of centralization is unavoidable.

    The SEC’s outdated Howey test ensures that nearly every legitimate crypto project gets classified as a security. The logic is self-defeating. Projects can’t decentralize without launching a token, but launching a token in the US instantly puts them in the SEC’s crosshairs.

    This isn’t just a theoretical issue; it has real consequences. Liquidity providers, essential for all new token launches, won’t engage with US-based projects because they assume their tokens will be classified as securities. Centralized exchanges refuse to list tokens issued from US entities for the same reason. Even decentralized exchanges face pressure from their legal teams to avoid actively seeding liquidity for American projects. The result? US founders are boxed out of the global crypto economy before they even get started.

    Offshore jurisdictions are winning

    This regulatory failure has spawned an entire cottage industry of offshore legal firms specializing in setting up token-issuing entities. With its FINMA no-action letter system, Switzerland has become a hotbed for crypto projects because it offers one of the few structured ways to get legal clarity on a token’s classification. The Cayman Islands and British Virgin Islands have also established themselves as crypto safe havens, providing flexible corporate structures that allow projects to operate with far less regulatory risk. 

    The absurdity is that the actual work — the development, the hiring, the innovation — still happens in the US. The token issuance gets pushed offshore via “Associations” and “Foundations,” which serve non-profits operating independently of US-based development shops. American founders are forced to funnel money into unnecessary legal fees, overseas operators, and shell foundations to avoid the inevitable crackdown from US regulators. This isn’t just bad for crypto; it’s bad for America. Until it can be solved, the US will continue to hemorrhage talent, investment, and influence to less myopic jurisdictions.

    Make America crypto-friendly

    The US has spent years fumbling crypto policy, and now, even with an administration that claims to be pro-crypto, it’s still failing to deliver real change. The solution isn’t to promise capital gains tax exemptions on crypto, as some have suggested. That does little to ameliorate the punishing regulatory landscape US-based projects are forced to navigate. If the US truly wants to lead in crypto, it also must take the lead in providing regulatory clarity.

    That means finally recognizing that the same regulations that have governed traditional financial markets can’t always be applied to crypto. The Howey test doesn’t work. Instead, the government must provide a new and functional legal framework for the crypto industry. 

    It’s time for US legislators and regulators to acknowledge that crypto tokens can’t achieve decentralization instantaneously and almost always require the efforts of a team of core contributors to bootstrap initial growth and development. The federal government must devise a version of the Howey test that does not automatically classify every new crypto token as a security but instead allows tokens a grace period to decentralize. In conjunction with this, the US must establish new protections to ensure insiders aren’t unduly benefiting from crypto projects while they scale. 

    In addition to swiftly ending the “regulation by enforcement” approach employed under Gary Gensler’s SEC, a tactic seemingly designed to gradually smother crypto activity in the US, the government must provide clear guidelines. It needs to be feasible for market makers to evaluate whether US tokens are commodities or securities with a degree of stability and predictability. This is the only way to end the blanket bans market makers have placed on US tokens and bring crypto development back to America.

    America’s window of opportunity is closing

    Crypto founders aren’t waiting for Washington to figure it out. Every day, without clear regulations, more crypto projects are incorporated offshore. The US doesn’t even need to “embrace” crypto. It just needs to stop actively driving it away.

    If this administration truly wants to make the US the leader in crypto, it needs to move beyond campaign slogans and start fixing the fundamental problems that forced this industry offshore in the first place. And it needs to act fast. 

    Shane Molidor, Founder, Forgd.

    Tyler Durden Tue, 05/06/2025 - 08:05
  8. Site: Mises Institute
    3 days 22 hours ago
    Author: Mises Institute
  9. Site: Mises Institute
    3 days 22 hours ago
    The government loads $328 billion of your tax care money on the EBT cards for SNAP recipients, and they go into the stores and they buy Coca Cola products, Frito Lay products, Pepsi products.
  10. Site: Novus Motus Liturgicus
    3 days 22 hours ago
    Clear Creek Abbey in northwest Oklahoma (diocese of Tulsa: located at 5804 W Monastery Road in Hulbert) will once again be hosting a week-long instruction in Gregorian chant, based on the course called Laus in Ecclesia, from Monday, July 14, to Friday, July 18. The course will be offered at three different levels of instruction:1) Gregorian initiation (Laus in Ecclesia level 1), taking the Gregory DiPippohttp://www.blogger.com/profile/13295638279418781125noreply@blogger.com0
  11. Site: Zero Hedge
    3 days 22 hours ago
    Author: Tyler Durden
    Gamergate Wins: Leftist Video Game Journalists Face Buyouts And Mass Layoffs

    Beyond those conservatives and libertarians in the alternative media that were warning about the invasion of woke ideology for many years, the very first group of "normies" to recognize the progressive threat to their subculture was gamers.  And, to their credit, they brought attention to the issue in a more effective way than the alternative media ever did. 

    The conservative sphere has always dismissed video games, movies, and the hobby game world as "stuff for kids" and this was a fatal error.  Instead of standing guard and keeping leftists away from the kids, the cultural Marxists were allowed to run rampant throughout the media industry.  They effectively blitzed the space and within a five year period they took over almost everything the west sees and hears from movies to games to comics and commercials. 

    They did have extensive help, though.  Through ESG programs, government agencies,NGOs and international conglomerates used vast amounts of cash to manipulate every aspect of media and incentivize the spread of woke ideology.  The meaning of ESG (Economic, Social, Governance) is meaningless and doesn't explain at all what it actually does.  At bottom, ESG was about progressive dominance of the cultural conversation. 

    Their strategy was to saturate media with leftist talking point to create the perception of false consensus.  To make the majority of people believe that most people are in support of far-left politics, and that there's something wrong with you if you're not also onboard.  Even some feminists called out the campaign as malicious.

    In terms of video gaming, the industry is far larger and far more pervasive than movies and television.  It's not surprising that leftists sought to target games first with feminist propaganda, anti-masculinity propaganda, anti-west propaganda, DEI, CRT, etc.  Gamers were not enthusiastic and they took to social media to expose the takeover. 

    First and foremost, Gamergate called out gaming journalists and their extreme bias in favor of woke ideology, not to mention their open disdain for young men and the male-centric foundation of gaming in general.  Gaming journalists lorded over a tiny niche market of news and commentary but they exploited associations with the wider corporate media to spread disinformation.  They used this influence in tandem with leftist activists to attack any game company that was not conforming to the woke message.  This was the beginning of "cancel culture" - It largely started within the games business. 

    Gamers also called out the ideological hijacking of games in general, including forced diversity standards, the "uglyfication" of female characters and the addition of obesity activism, the incessant use of gay and trans propaganda and the injection of leftist messaging within storylines often aimed at young children, etc.

    Gamergate was attacked relentlessly for simply telling the truth:  That gaming was being colonized by progressive activists who hate games, who hate gamers, and who only wanted to use gaming as a vehicle to deliver DEI brainwashing to the masses.  At first, the media claimed that this was a conspiracy theory and there was no leftist agenda.  Then, when they were fully exposed, they admitted there was an agenda but claimed  it's a "good agenda" and anyone who opposes it is a sexist, racist fascist. 

    Most of the culture war simply involved making the public aware of the leftist intrusion and the money behind it.  Once that became widely known fact, the activists were fighting a losing battle.  Today, Gamergate has officially won the culture war as gaming journalists face mass layoffs in the midst of industry buyouts.

    Polygon, a media company founded in 2012 that is notorious for its leftist crusades against gamers, has been sold to Valnet, owner of Game Rant and a host of other publication.  The company has subsequently been gutted.  Most of the journalists involved along with the editor-in-chief are departing or they are being fired

    This follows a series of layoffs within the industry of some of the most vile feminist journalists ever to pretend to play games.  Many have taken to social media to e-beg for cash from followers, beg for work from other outlets, and complain about how they will now have to get real jobs in retail and service.  It's hard to imagine a more fitting end for a group that tried to ruin the lives of so many for the sake of political supremacy.

    It should be noted that the surge in media layoffs in recent months follows the shutdown of funds flowing from government agencies like USAID.  It's hard to say if there's a connection, but if DOGE delivered the finishing death blow it's only because these organizations already lost millions of readers through through their own arrogance. 

    And yet, to this day most of the activists involved in the bloodletting still refuse to acknowledge the real reasons why they are so despised.  They blame the economic climate, though, there are numerous gaming advocates on YouTube and elsewhere that are wildly successful.  The market is there, it just doesn't want Polygon and its peers.  

    Other activist journalists blame a climate of "racism and sexism" for the death of their platforms.  They still haven't learned; this is the attitude of zealotry that put them in the crosshairs of gamers to begin with.  At bottom, leftists in the gaming world tried to fight and defeat the free market, and they lost.

    The culture war is now nearing an end.  The death of woke is ringing like funeral bells.  Gamers should be applauded for enduring years of slander and playing a key role in winning the fight. 

    Tyler Durden Tue, 05/06/2025 - 07:45
  12. Site: southern orders
    3 days 22 hours ago

     Cardinal Joseph Coutts, the retired bishop of Karachi, Pakistan, speaks to reporters outside the Vatican May 5, 2025. (CNS/Pablo Esparza)

    This photo of Joseph Cardinal Coutts of Pakistan and yours truly was taken last fall after a dinner with the good Cardinal at the rectory of Saint Gregory the Great in Bluffton, South Carolina. I asked him about the upcoming conclave, given Pope Francis’ advanced age and many serious health problems. He was soon to turn 80 and wouldn’t be in the conclave once he turned 80.

    Evidently, His Eminence is in the Conclave still 79 but not for long!

    But he said, the cardinals don’t know each other because of Pope Francis. 


  13. Site: Catholic Herald
    3 days 22 hours ago
    Author: The Catholic Herald

    One of Pope Francis’ popemobiles is to be transformed into a mobile clinic for children in Gaza.

    Not long before his death, Pope Francis donated one of his popemobiles to be converted into a mobile clinic for children in the war-torn region.

    The popemobile in question was reportedly the one Pope Francis used when visiting Bethlehem in May 2014, during his historic visit to the Holy Land. The vehicle has since remained on display in a public square in Bethlehem.

    “The popemobile has been refurbished and upgraded to fulfil a new and hopeful mission: to provide medical assistance to injured and malnourished children who currently have no access to any type of health care,” Peter Brune, secretary-general of Caritas Sweden explained.

    The former popemobile, which has been named “Vehicle of Hope”, will contain basic medical equipment including rapid diagnostic kits, vaccines, syringes, oxygen, suture materials, medication and other vital supplies.

    Pope Francis himself, in his final months, asked Caritas Jerusalem to enact the initiative in response to the humanitarian crisis in Gaza, where hundreds of thousands of children are living without access for food, clean water or medical care. The vehicle will be operated by medics and drivers from Caritas. 

    About a million Palestinian children have been displaced as a result of fighting between Hamas and Israeli forces.

    Pope Francis’s concern for the plight of the Palestinians antagonised the Israeli government during his papacy.

    In November, the Pope said the international community should examine if the Israeli military actions in Gaza amounted to genocide. He described the humanitarian situation inside the enclave as “shameful”.

    Francis had a particular concern for Gaza and made regular phone calls to a priest who runs the only Catholic church in the enclave.

    Vatican News, the Holy See’s official news outlet, said: “Pope Francis’s legacy of peace continues to shine in our conflict-ridden world.

    “The closeness he showed to the most vulnerable during his earthly mission is radiating even after his death, and this most recent surprise is no exception: his popemobile, the very vehicle from which he waved and was close to millions of faithful all around the world, is being transformed into a mobile health unit for the children of Gaza.”

    The mobile clinic will be deployed in the Palestinian territory as soon as humanitarian access is restored, with the mission of “providing basic care in the most isolated areas and reminding the world that children’s rights and dignity must always be protected”, Brune explained.

    “It is not just a medical tool but a symbol that the world has not forgotten the children of Gaza,” Brune added.

    Photo: A man holds up a phone for Father Gabriel Romanelli, Parish Priest of the Roman Catholic Church of the Holy Family, to have a video conference call with Pope Francis as the latter blesses the congregation during Christmas Eve mass at the church in the Zaytoun neighbourhood of Gaza City on December 24. (Photo by OMAR AL-QATTAA / AFP)

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    The post Pope Francis’s popemobile transformed into mobile clinic for Gaza children first appeared on Catholic Herald.

    The post Pope Francis’s popemobile transformed into mobile clinic for Gaza children appeared first on Catholic Herald.

  14. Site: southern orders
    3 days 22 hours ago



    Are there any papal candidates amongst the College of Cardinals that combine the best of both Pope Benedict XVI and Pope Francis?

    By this I mean a candidate that has intellectual and academic chops like Benedict which Francis did not have.

    By this I mean a candidate that has doctrinal and moral clarity in the presentation of the Deposit of Faith, like Benedict which Francis did not.

    By this I mean a man of manly elegance, embracing the trappings of the papacy, along with its majestic monarchical beauty, like Benedict which Francis did not?

    By this I mean a candidate who also has the common touch, speaks some street language easy to understand and loves prison ministry and smelling like filth which Francis did but Benedict did not.

    Is this too much to ask? Is there a Pope Francis Benedict out there????? Time will tell.

  15. Site: Catholic Herald
    3 days 22 hours ago
    Author: Charles Collins/Crux

    As the cardinals of the Catholic Church prepare to gather in conclave for the election of a successor to Pope Francis, various issues facing the Vatican are on their minds, one of which is likely to be the Holy See’s present frosty relations with Israel.

    Relations with the State of Israel are at their lowest level since diplomatic relations were established just over 30 years ago, a chill that followed the Oct. 7, 2023 surprise attack by Gaza-based Hamas militants that left 1,200 Israelis dead and more than 250 taken as hostages, and the subsequent Israeli invasion of Gaza.

    Of the roughly 100 hostages who remain in Gaza, a third are believed to be dead, according to Israeli Defense Forces.

    Israel immediately launched a retaliatory offensive in Gaza to oust Hamas from leadership, with the subsequent conflict resulting in the deaths of over 60,000 people in Gaza, according to Palestinian estimates.

    Immediately after the October 2023 attack by Hamas, Christian leaders in the Holy Land issued a statement calling “for the cessation of all violent and military activities that bring harm to both Palestinian and Israeli civilians”.

    The Israeli embassy to the Holy See accused that statement of reflecting “immoral linguistic ambiguity”.

    RELATED: Israeli and Catholic leaders clash over whether Gaza is a ‘just war’

    In February 2024, Vatican Secretary of State Italian Cardinal Pietro Parolin told reporters that it was time for Israel to change its strategy in Gaza, explaining “other paths have to be found to resolve the problem of Gaza, the problem of Palestine”.

    Israel’s Embassy to the Holy See responded to Parolin’s remarks, calling it “a deplorable declaration”.

    Pope Francis also drew criticism from Israel for his own remarks.

    “According to some experts,” Pope Francis said in a book released last year, “what is happening in Gaza has the characteristics of a genocide”, calling for an investigation to see if “it fits into the technical definition formulated by jurists and international bodies”.

    Also in the book, Francis said he was “thinking above all of those who leave Gaza in the midst of the famine that has struck their Palestinian brothers and sisters given the difficulty of getting food and aid into their territory”.

    In his last public appearance at Easter, Francis’s statement said the Holy Land was “wounded by conflict” and home to an “endless outburst of violence”.

    His message gave particular attention to the people of Gaza and to the Christian community in the enclave where “the terrible conflict continues to cause death and destruction and to create a dramatic and deplorable humanitarian situation”.

    Francis made calls to the Christians in Gaza almost daily during the entirety of the Hamas-Israel war. Even after his death, the pope showed his support by donating his popemobile to the Gaza medical efforts.

    All of these actions tried Israel’s patience with the Vatican.

    After the death of Pope Francis, the official Israeli account on X shared a photo of the pontiff at the Western Wall in Jerusalem, captioned: “May his memory be a blessing.”

    The was quickly deleted by the Israeli government, and an official statement from Israeli Prime Minister Benjamin Netanyahu came four days later: “The State of Israel expresses its deepest condolences to the Catholic Church and the Catholic community worldwide at the passing of Pope Francis. May he rest in peace.”

    Why is the deteriorating relationship a major concern facing the next pope, especially given its proximate cause?

    Most of the world – the United States being a notable exception – has condemned the Israeli action in Gaza, which has killed tens of thousands of people, most of them civilians.

    One reason may be the effect it is having on Catholic-Jewish relations.

    The Holy See was late in establishing diplomatic relations with Israel, and the “Fundamental Agreement Between the Holy See and the State of Israel” signed in 1993 specifically tied the relationship between the two states to the “unique nature of the relationship between the Catholic Church and the Jewish people, and of the historic process of reconciliation and growth in mutual understanding and friendship between Catholics and Jews.”

    Another reason is the deteriorating relationship between Israel and the Palestinians, which will affect the place of Christians in the Holy Land.

    Trump himself has been able to throw gasoline on the conflict by calling for the depopulation of Gaza, and putting it under U.S. rule, pledging he could make it the “Riviera of the Middle East”.

    Although most of the world thinks this is absurd, around 70 per cent of the people of Gaza are technically refugees and therefore do not have a right to permanent status in their current residence (most of them claim a “right to return” to Israel, which the Israeli government will never give them).

    If Trump somehow gets to go through with his plan – which involves resettling Palestinians from Gaza, many of whom are displaced even in the Strip, in other Arab nations – this will affect the West Bank, where over 25 per cent of the Palestinians are technically refugees. If they were removed, the Israeli population in the West Bank would increase to around 25 per cent.

    This would make the Two-State Solution impossible, and also destroy any possibility of any form of an international protectorate over Jerusalem—a proposal the Holy See has supported since shortly after the UN advanced the idea of treating Jerusalem as a corpus separatum in the late 1940s.

    More broadly, the persistent instability and intense violence in the Holy Land adversely affects the small – and shrinking – Christian population, as well as the places considered sacred by the world’s Churches.

    It could be the new pope will need to be closely involved with the homeland of Jesus Christ.

    Follow Charles Collins on X: @CharlesinRome

    Photo: Father Gabriel Romanelli, Parish Priest of the Roman Catholic Church of the Holy Family, prays as he reads the bible above the altar by a figurine depicting the baby Jesus (outside the frame) during Christmas Eve mass at the church in the Zaytoun neighbourhood of Gaza City on December 24, 2024, amid the ongoing war in the besieged Palestinian territory between Israel and Hamas. (Photo by OMAR AL-QATTAA / AFP) 

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    The post Holy Land tensions cast shadow over papal conclave first appeared on Catholic Herald.

    The post Holy Land tensions cast shadow over papal conclave appeared first on Catholic Herald.

  16. Site: southern orders
    3 days 23 hours ago

     


    But thank God, they placed a faux altar in front of it to allow for Mass facing the entrance doors, so that the Mass is closer to the people:


  17. Site: Mises Institute
    3 days 23 hours ago
    Author: Patrick Barron
    The Trump White House has enacted tariffs in the belief that other countries are “cheating” by enacting tariffs against US goods and “manipulating” their currencies. However, with the US dollar being the world's reserve currency, the US has engaged in dollar manipulation through inflation.
  18. Site: Zero Hedge
    3 days 23 hours ago
    Author: Tyler Durden
    OpenAI Blinks: Scraps For-Profit Plan After Outside Pressure

    In a blog post overnight, the OpenAI Board revealed that its nonprofit arm would retain control of the chatbot company following backlash over its attempt to restructure into a for-profit business.

    "We made the decision for the nonprofit to retain control of OpenAI after hearing from civic leaders and engaging in constructive dialogue with the offices of the Attorney General of Delaware and the Attorney General of California," the OpenAI Board wrote in a blog post

    Last fall, OpenAI's Sam Altman was preparing to overhaul the company's structure and transition to a for-profit business—an effort that sparked a heated legal battle with co-founder Elon Musk, who sought to keep OpenAI 'open'.

    The board provided new details about OpenAI's evolving structure:

    • OpenAI was founded as a nonprofit, and is today overseen and controlled by that nonprofit. Going forward, it will continue to be overseen and controlled by that nonprofit.

    • Our for-profit LLC, which has been under the nonprofit since 2019, will transition to a Public Benefit Corporation (PBC)–a purpose-driven company structure that has to consider the interests of both shareholders and the mission.

    • The nonprofit will control and also be a large shareholder of the PBC, giving the nonprofit better resources to support many benefits.

    • Our mission remains the same, and the PBC will have the same mission.

    "We want our nonprofit to be the largest and most effective nonprofit in history that will be focused on using AI to enable the highest-leverage outcomes for people," Altman wrote in a letter to employees. 

    He also provided details about OpenAI's evolving structure:

    • OpenAI's nonprofit will remain in control of the organization after discussions with civic leaders and attorneys general from California and Delaware.

    • The for-profit LLC will convert to a Public Benefit Corporation (PBC)—a mission-aligned model also used by other AI labs like Anthropic and X.ai.

    • This move replaces the old capped-profit structure with a simpler equity-based model, but does not represent a sale.

    • The nonprofit will retain oversight and become a major shareholder in the PBC, giving it more resources to advance AI for broad societal benefit.

    • A new nonprofit commission will help guide efforts to ensure AI supports public good in areas like health, education, science, and public services.

    • OpenAI says this new structure will enable it to make faster and safer progress toward its mission of democratizing AGI.

    Meanwhile, Marc Toberoff, lead counsel for Elon Musk in the ongoing lawsuit against OpenAI, told Bloomberg via email that Altman's decision to scale back for-profit plans "changes nothing."

    "OpenAI's announcement is a transparent dodge that fails to address the core issues: charitable assets have been and still will be transferred for the benefit of private persons, including Altman, his investors and Microsoft," Toberoff said.

    In March, US District Judge Yvonne Gonzalez Rogers blocked Musk's request to stop Altman from restructuring OpenAI into a for-profit company. This led the judge to expedite a trial for this fall.

    Given "the public interest at stake and potential for harm if a conversion contrary to law occurred," Rogers said, adding that an expedited trial later this year would be on "core" claim that OpenAI's structure conversion plan is unlawful and "potentially the interrelated contract-based claims."

    Earlier this year, a Musk-led group offered to purchase OpenAI for around $100 billion, a bid that was quickly rejected.

    Tyler Durden Tue, 05/06/2025 - 06:55
  19. Site: non veni pacem
    3 days 23 hours ago
    Author: Mark Docherty

    TLDR: On 14 Feb 1130, a small number of Cardinals assembled a Conclave in secret and elected Innocent II. Later that day, the full college assembled and elected (antipope) Anacletus II. While the first Conclave was obviously illicit and non-canonical, it yet produced a valid pope, backed by St. Bernard of Clairvaux, Doctor of the Church. Perhaps this is an option today, but they better hurry.

    Above: St. Bernard supported the controversial conclave.

    The Non-Canonical Conclave that Worked

    Catholics need to face some hard facts concerning the election of the next Roman Pontiff. Of the 133 cardinals eligible to vote in the upcoming conclave, 110 have been created by Jorge Bergoglio—and only 89 votes are needed to secure election as Pope. Furthermore, among the “papabile,” only Cardinals Burke, Sarah, Muller and Ranjith are reliably orthodox. Under the circumstances, without some form of divine intervention, the next Pope will certainly be “left” of Joseph Ratzinger—and possibly, more left than Jorge Bergoglio.

    As Bishop Joseph Strickland has warned the cardinal-electors:

    If a public heretic, or a man who is reasonably suspected of being a public heretic, receives sufficient votes, faithful cardinals have an obligation to refuse to accept the validity of his election…

    Your Eminence, if a false pontiff is presented to the world as the pope, I fear that many more souls will be lost. All those cardinals who consent to his invalid election will share that responsibility with him.

    In the face of such an imminent danger, is there truly nothing that can be done except to bemoan and bewail after the fait accompli?

    I believe there is.

    I believe that Church history provides us a solution—perhaps the only solution—to this desperate situation.

    In the early hours of February 14, 1130, Pope Honorius died. A handful of cardinals fearing the election of a particular candidate who might sully the Bride of Christ, dispensed with canon law and elected one of their own as Pope without even informing the rest of the college that the current Pontiff was dead. The new Pope was consecrated in the Lateran Basilica and took the name “Innocent II.”

    When the rest of the cardinals learned about these early morning machinations, they immediately held their own conclave that afternoon, electing and consecrating “Pope Anacletus II.” Anacletus received the support of the majority of cardinals, clergy and lay people of Rome and after fighting in the streets between supporters of both claimants, Innocent fled Rome. Anacletus, on the other hand ruled from Rome for eight years, excommunicating Innocent and his supporters. But Innocent found a powerful protector in St. Bernard of Clairvaux, the greatest figure of twelfth-century Europe. The Cistercian abbot was a one-man dynamo in the cause of restoring Innocent to the Chair of Peter. The saint coaxed and cajoled the King of France, the King of England, and the Holy Roman Emperor in Germany along with scores of bishops and abbots into supporting Innocent as the rightful Pope until, in the end, only the Norman King of Sicily maintained his allegiance to Anacletus.

    In 1138, Anacletus died, and St. Bernard then managed to convince his Roman successor to step down in favor of Innocent. Innocent then proceeded to convoke an ecumenical council of the Church, the Second Lateran Council in which he declared Anacletus an antipope and annulled all his actions.

    How can this long forgotten episode in Church history provide a solution to our own impending disaster? Simply this. If the secret conclave in violation of canon law which produced Innocent II was subsequently validated and approved—why can’t the good cardinals of the Church do the same thing today? Why shouldn’t Cardinals Burke, Sarah, Muller et al not hold their own preemptive conclave and announce one of their own as the new Pope “Pius XIII” in order to avert an apostate from becoming “Francis II”? Possession is 9/10 of the law. Will all the heterodox bishops and the fake news media cry “schism”? Of course they will. But if world leaders like President Trump, Xavier Milei of Argentina and Giorgia Meloni of Italy, as well as faithful media backed the Traditional Pope (as did the Kings of Christendom 900 years ago) all that would matter is that he ultimately prevails even if the struggle took years as it did in Innocent’s case. As doctor of the Church, St. Alphonsus Ligouri teaches:

    It makes no difference that in past ages some Pope was illegitimately elected or fraudulently usurped the Pontificate. It is sufficient that he be afterwards accepted by the whole Church, for by such acceptance, he is made the true and legitimate Pontiff.[1]

    [1] St. Alphonsus Ligouri, Verita Della Fede, Part III, Ch. VIII

    https://onepeterfive.com/the-non-canonical-conclave-that-worked/

  20. Site: Zero Hedge
    3 days 23 hours ago
    Author: Tyler Durden
    The EU Zombie Uses Trump As Cover To Further Feed On Citizens

    Authored by Conor Gallagher via NakedCapitalism.com,

    Donald Trump is the gift that keeps on giving for the western misleadership class. Any anti-democratic swindle on the EU wish list is now being sold as a remedy to the Orange Man. (And if it’s not Trump, it’s Russia).

    The US is no longer a reliable defense partner, they say. 

    We must give more power to Brussels and send untold billions to weapons companies.

    The US is no longer a reliable economic partner, they say. 

    We must increase competitiveness by weakening labor and empowering finance.

    The UK voters may have opted for Brexit, but London and Brussels are “defying Trump” with a “free and open trade” declaration that includes negotiations ‘on defense and security, fishing and energy, as well as a “common understanding” of which topics will be covered by intensive Brexit reset negotiations this year.’

    The strange thing about these plans, however, is that they include reliance on US weapons and energy and alignment with US geopolitical and geoeconomic goals.

    Let’s focus here on how the EU is pressing ahead with plans to dramatically increase defense spending due to Trump Abandonment Syndrome.

    The EU Jazz Band

    Recent commentary by Rosa Balfour, director of Carnegie Europe, perfectly sums up these arguments. In a piece titled “Europe Tried to Trump-Proof Itself. Now It’s Crafting a Plan B” she explains why the EU has no choice but to redirect social spending towards the arms industry.

    Balfour’s romantic version of recent history starts on February 28. That’s when “the televised humiliation of Ukrainian President Vladimir Zelensky” took place, and “Europe realized it could no longer rely on its longtime ally, the United States.” And here she is on the jazzy wreckage:

    The shocking depth and breadth of this realization cannot be overemphasized. Political leaders in European states, the European Union, and NATO displayed composure and coordination, but behind the scenes, the soundtrack was a frantic free jazz jam session with dramatic thuds and a long pause—the silence at the realization that the European comfort zone was over.

    And now, what are these composed and coordinated “political leaders” doing? They announce that Ukraine is Europe’s first line of defense, make grand plans for a “coalition of the willing,” and declare that Ukraine will become a “steel porcupine

    The coalition of the willing has fallen apart. The steel porcupine was ridiculed.  And while those in the Kremlin likely aren’t losing any sleep, Europeans should be. That’s because, as Balfour writes, the European Commission “can play supporting roles by mobilizing financial resources and handling complicated in-house horse trading.”

    That’s one way of putting it.

    The Commission is inching its way towards invoking emergency powers to push through parts of its rearmament slush fund. It’s getting pushback from the European Parliament, but the fact is Ursula can do it anyways with minimal support from EU governments. She’s likely just waiting for the right moment. Let’s look at the status of the European militarization billions.

    On March 19, the Commission introduced a 150 billion euro proposal — a first installment of what’s to be at least $900 billion— for establishing the Security Action for Europe (SAFE) through the reinforcement of European defence industry Instrument.

    It wants to move forward with it under Article 122 emergency powers which need only a qualified majority in the Council —as opposed to the usual consensus— which allows Ursula and friends to get around pesky vetoes from member countries. The procedure for 122 is as follows:

    1) the Commission proposes a Council measure; following which 2) the Council adopts the measure in line with [qualified majority voting]. No additional elements or participants are envisaged.

    This article allows the proposal to bypass parliamentary negotiations and go straight to the Council for negotiation and adoption. The Parliament’s role is reduced to submitting suggestions and requesting debates.

    How’s that for your democratic rules-based order?

    In an April 23 secret vote, the European Parliament’s Committee on Legal Affair unanimously backed a legal opinion rejecting the Commission’s attempt to bypass it on a 150 billion euro rearmament fund.

    While it is a non-binding vote, it does signal opposition to Ursula’s plan, but it’s not some principled stand for the will of the people or any romantic notion like that.

    No, it’s more about dividing up slices of the pie as European weapons industry lobbyists are increasingly active in Brussels and are trying to make sure their clients are rewarded. And so much of the feeble opposition is over getting a stronger “buy European” clause in SAFE (it currently requires 65 percent of war consumables and complex systems to come from within the EU, Ukraine, or EEA/EFTA states, which includes Turkiye and Norway.

    Why must Ursula’s commission sideline the Parliament and some member states in order to spend 900 billion on military purchases? They lay it out in their proposal. There’s the usual nonsense about Russia:

    The EU and its Member States now face an intensifying Russian aggression against Ukraine and a growing security threat from Russia. It is also now clear that this threat will persist in the foreseeable future, considering that Russia has shifted to a war-time economy enabling a rapid scaleup of its military capabilities and replenishment of its stocks. The European Council therefore underlined, in its conclusions of 6 March 2025, that “Russia’s war of aggression against Ukraine and its repercussions for European and global security in a changing environment constitute an existential challenge for the European Union”.

    There’s also the Trump abandonment syndrome:

    At the same time, the United States, traditionally a strong ally, is clear that it believes it is over-committed in Europe and needs to rebalance, reducing its historical role as a primary security guarantor.

    One itching question is what happens to this latter selling point now that the Trump administration has tied itself to Ukraine through the so-called minerals deal, but surely if the European powers have made it this far on manufactured crises, they’ll be able to overcome that hurdle by pointing to Trump’s insistence on what they call an unjust peace for Ukraine.

    And so “rearmament” by supranational emergency decree it must be—with Balfour from Carnegie and all the other plutocrat court jesters at the transatlantic think tanks cheering this on as a victory against the autocratic hordes outside the garden walls. Here’s Balfour again summarizing the mood among this crowd:

    …a trajectory of change has been charted, and it has transformative potential—not just for the European continent, but also for the global reordering of post-American international relations. The jazz band has picked up rhythm, even if the melody is not fully harmonic.

    I’m not sure if that’s music Balfour is listening to or the jangle of gold and silver. While it can be difficult to hear anything over the din coming from the elite ‘Spirit of 1914,’ there’s always one chord missing from the militarization genre. Surely Balfour, the jazz aficionado, must know that curiosity was considered one of the essential ingredients to the music. If we apply that to her extended jazz metaphor we might start asking some questions like:

    • Why does the EU need to perform this whole militarization song and dance routine at all?

    • Why can’t there be peace with Russia?

    • Why did European nations help sabotage past Kiev-Moscow peace negotiations?

    • Why did the EU help the US overthrow the government of Ukraine and use the country as a battering ram against Russia?

    • Why does the EU elite so crave war with Russia?

    • Is the EU not more secure and prosperous through friendly ties and trade with Russia?

    And why must the EU, which collectively already ranks second in the world in defense expenditures, spend boatloads more? How much will make it safe, competitive, and independent?

    These questions are never addressed. It’s simply treated as the natural order of things that Russia is the EU’s enemy and it must get big expensive weapons because Trump bad. The sad thing is, this relentless messaging pumped out of European media is working — at least according to the EU’s own polls. That wouldn’t be entirely surprising considering this message is endlessly pumped out of EU media.

    Either way, European governments are running with it. Sixteen countries are asking the EU for fiscal leeway to spend big on defense — requests that are never made during the endless social austerity.

    Yes, the citizens of the bloc will continue to see their standard of living fall, but don’t worry, EU enlargement and spending more on militarization will lead to more “competitiveness.” Can’t you feel it already:

    Profit margins for Weapon and Ammunition at Rheinmetall went up from 23% to 28.5% from 2023 to 2024. Of every Euro in public money spent on weapons from Rheinmetall, the company makes 28.5% return on sales, quite spectacular even compared to other Rheinmetall business. pic.twitter.com/SvKmjNcB30

    — Isabella M Weber (@IsabellaMWeber) April 28, 2025

    Despite considerable hurdles for the European defense industry (and a brief cooling off period due to tariff shock), their stock prices are going through the roof as investors expect Brussels to come through with endless support.

    About those hurdles…

    Research by the Stockholm International Peace Research Institute (SIPRI) shows that Europe increased its imports of weapons two-and-a-half times over in the past five years compared with the previous five years with two-thirds coming from the US.

    Even others at Carnegie Europe have doubts about the EU scheme. Here’s Judy Dempsey, nonresident senior fellow at Carnegie Europe:

    Tell Poland. It is rapidly building up its defense infrastructure by purchasing  American kits. When Warsaw wanted to shop elsewhere, like in South Korea, it came under huge pressure from Washington not to do so. This is an important point. The United States wants Europe to take more responsibility for its defense but not at America’s military industrial expense. It is a major military supplier of components to many European countries. Making that break would take time and a political will for Europe to build up a common defense and procurement strategy.

    Beyond the considerable political pressure, there’s also the fact that lead times when it comes to defense capabilities are long. So part of the EU’s strategy is to send billions more to Ukraine so it can build up its defense industry. The rationale is that it is a far cheaper place to manufacture weapons than Western Europe, and it already has a defense manufacturing sector up and running. Okay, then.

    But are there some chinks in that logic?

    For one, Ukraine is now the world’s biggest arms importer, absorbing 8.8 percent of global transfers. Two, Russian Kinzhals might have a say in the output from Ukrainian weapons manufacturers.

    It’s hard to see what this all does for European competitiveness, let alone the average Josef, Jose, or Giusseppe. Here’s Balfour on this should be sold to the proles:

    Politically, to ensure public support for rearming Europe and to offset the inevitable costs, defense efforts ought to be part of a broader strategy of economic and technological innovation. Indeed, these efforts could boost Europe’s stagnant economy. At the EU level, the recipes are available in recent recommendations addressing competitiveness, productivity, and technological innovation.

    Indeed, Trump’s first 100 days are pushing the EU to put some momentum behind projects that have been underway for years. Tying these objectives with the enlargement of the EU to include Ukraine, Moldova, and the Western Balkans adds a new perspective to upscaling the single market. Expanding the EU and deepening the relationship with other European countries—like the UK, Switzerland, and Norway—would counter the fragmentation that great power competition and political disruption at home are inflicting on the continent.

    It’s scary for its rote, simplistic confidence. Nowhere in this hopeful Powerpoint is there an appearance of the considerable downsides, which at the more disastrous end of the spectrum happen to include the complete destruction of Europe.

    Perhaps the best hope is that these fools’ plans for EU rearmament plans are just a giant racket. But one could say the same about the US military industrial complex, and look at what that has unfurled: endless death and destruction and numerous lost wars. One key difference between the transatlantic militarization schemes, however, is that the US is isolated between two oceans. The EU borders not only Russia, but also a collapsing neo-Nazi regime in Ukraine, making its embrace of a military-industrial complex a far riskier proposition.

    Rackets have a way of taking on a life of their own. Indeed, one could argue the EU’s current trajectory is that of a zombie driven along by its Russophobia — and redistributing money upwards in the name of that hatred. Problem is that life expectancy isn’t long for zombies and those around them.

    Tyler Durden Tue, 05/06/2025 - 06:30
  21. Site: Zero Hedge
    3 days 23 hours ago
    Author: Tyler Durden
    "We Are At A Tipping Point": Shale Giant Diamonback Says US Oil Output Has Peaked, Slashes CapEx Amid OPEC Price War

    The OPEC price war has made landfall in the US.

    Following our report earlier that Saudi Arabia has declared a new price war on OPEC+ quota-busters such as Kazakhstan, and non OPEC+ members such as US shale producers, today after the close Diamondback Energy, the largest independent oil producer in the Permian Basin, made a historic pronouncement today when it said that production has likely peaked in America’s prolific shale fields (something we also mentioned earlier in the day) and will decline in the months and years ahead after crude prices plummeted.

    Separately, the Texas company trimmed its own full-year production forecast Monday, and said that it expects onshore oil rigs across the entire US industry to drop by almost 10% by the end of the second quarter and fall further in the months after.

    This will have a meaningful impact on our industry and our country,” Diamondback Chief Executive Officer Travis Stice wrote. “We believe we are at a tipping point for U.S. oil production.”

    The outlook from Diamondback, one of the industry’s most prominent producers, marks a key shift for expectations within the sector. Before oil prices started plunging last month, most banks and research firms had forecast US shale production would grow this year and next before plateauing later in the decade. The Permian, they said, was apt to peak in the late 2020s or early 2030s depending on prices.

    Not any more.

    As Bloomberg notes, the US shale fields have been the engine behind the surge in US crude output over the past 15 years, making the country the world’s top producer and largely energy independent, much to the horror of OPEC. The ability of companies like Diamondback to quickly bring new wells online using hydraulic fracturing, also known as fracking, has bedeviled OPEC. But the prospect that shale may now have reached its peak and is facing years of painful decline, poses a huge threat to US President Donald Trump’s goal to turbocharge fossil fuel production.

    While analysts and pundits have long said repeatedly that US shale is poised to peak, the industry had managed to prove them wrong by innovating and driving output to fresh records year after year. 

    So the assertion by Diamondback that the moment has finally come is extremely noteworthy.

    “Today, geologic headwinds outweigh the tailwinds provided by improvements in technology and operational efficiency,” said Stice, who will step down as CEO at the company’s annual shareholder meeting later this month.

    US oil futures, pricing in a global demand recession, have dropped about 20% since the start of April when Trump announced wide-ranging tariffs that triggered a global trade war. At the same time, OPEC and its allies have surprised markets with plans to increase oil supplies more than expected later this year in response to internal bickering, and particularly the unwillingness of some members such as Kazakhstan to comply with set production quotas.

    It’s led to frustration spilling out both privately and in public comments from America’s oil bosses. US Energy Secretary Chris Wright sought to reassure the industry during a visit to Oklahoma last month, saying turmoil from the president’s trade war is likely to be fleeting.

    “We can’t help but wonder if the last ‘letter to stockholders’ written by outgoing CEO Travis Stice was intended as much for government leaders in Washington, DC as it was for FANG shareholders,” Tim Rezvan, an analyst at KeyBanc Capital Markets wrote in a note to clients.

    Diamondback said the number of crews fracking wells, which it estimates has fallen 15% this year, will continue to shrink as shale operators dial back amid unprofitable oil prices. 

    The company now expects to produce about 488,000 barrels of oil per day this year, when taken at the midpoint of its new guidance released Monday. That’s less than 1% lower than the roughly 492,000 barrels-per-day view it gave three months ago.

    The driller is the latest US operator to announce cutbacks in recent months. EOG Resources and Matador Resources are also dialing back activity, while Nabors Industries said that shale producers plan to cut 4% of their drilling rigs by the end of the year, citing a survey of nearly half the industry.

    For the immediate future, Diamondback is cutting three drilling rigs and one of its frack crews, leading to a total of $400 million slashed from its budget this year, Stice said, the clearest indication that US output is about to fall off a cliff, because if the most efficient and lowest cost producers have no choice but to throttle output what does that leave for the smaller, less efficient frackers?

    “We are taking our foot off the accelerator as we approach a red light,” Stice said. “If the light turns green before we get to the stoplight, we will hit the gas again, but we are also prepared to brake if needed.”
     

    Tyler Durden Tue, 05/06/2025 - 06:15
  22. Site: Mises Institute
    4 days 7 min ago
    India claims it is attacking "terrorist infrastructure." Both countries have nuclear weapons.
  23. Site: Real Investment Advice
    4 days 17 min ago
    Author: RIA Team

    An email from a reader of ours led with the title "PCE is quite confusing." He asked if we would explain the difference between the monthly PCE prices index and the quarterly PCE prices, i.e., the GDP deflator, accompanying the GDP report. Given the importance of monthly PCE prices to the Fed and their meeting tomorrow, it's worth answering the question publicly.

    Last week, we learned that the quarterly PCE price deflator was up 3.7% on an annualized basis. However, monthly PCE prices were flat. While the two inflation measures share the same name, PCE (personal consumption expenditures), they measure different things. Monthly PCE prices, the Fed’s favored inflation gauge, track price changes in consumer goods and services. The quarterly PCE price gauge is an index designed to subtract the impact of inflation from the GDP figure to arrive at real GDP. Accordingly, the deflator uses a broader measure of goods and services, including items not directly tied to household spending.

    Of additional consideration, the quarterly PCE is more prone to large revisions than the monthly data. Thus, the monthly reading is more reliable. The graph below shows that the two inflation gauges track each other well on an annualized basis. However, there is a slight gap at the moment between them. While month PCE prices fell by 0.04% last month, they were up .44% and .30% in the prior two months. Thus, its quarterly annualized change is approximately 3.1%, not as much of a divergence as the recent PCE data portends.

    pce prices

    What To Watch Today

    Earnings

    Earnings Calendar

    Economy

    Economic Calendar

    Market Trading Update

    Yesterday, we noted the recent technical setup suggests a near-term correction after a sharp rally from the "Liberation Day" woes. Despite the short-term overbought conditions, corrections will likely remain contained above recent support levels for a couple of reasons. The first, as noted on "X," the share repurchase (stock buybacks) window has now reopened, and the sharp rise in buybacks has provided the necessary support for the recent rally. Those buybacks will continue through May.

    Share repurchases

    Secondly, the breadth of the market has improved markedly. As shown, market breadth has improved significantly with the number of stocks trading above their 50 and 200-DMA rising sharply, and the NYSE Advance-Decline line testing previous highs.

    Market Breadth

    This data suggests that while corrections are likely, they should be well contained to previous broken-resistance levels, turning them into support. The weekly sell signal in the bottom panel is one thing to watch closely. When that signal reverts to a buy, it will be time to return equity exposure to target weights. For now, while a correction back to recent lows is possible, the higher probability is that any correction that reverts the market toward 5500 or 5300 will likely find buyers willing to step in.

    Weekly Market Trading Chart

    However, with that stated, it is certainly possible that later this summer, as the impact of tariffs is fully recognized, the economy slows, and earnings are revised lower, the market will likely encounter another volatility spat. As I noted in yesterday's blog on "Resistance Is Futile:"

    If you want my best guess, here it is:

    • We’ve likely seen the market lows for this year.
    • We’ve likely seen the highs as well.

    Navigating a market trapped between support and resistance becomes emotionally challenging. Investors face sharp rallies into resistance — and retracements back to support — wearing down sentiment until mistakes happen.

    Therefore, this is how we are positioned in this current and uncertain market environment.

    • Primarily long equities, as the market structure remains bullish.
    • Increased cash levels to manage policy and growth uncertainty.
    • Short S&P 500 index to hedge downside risk.

    We also recommend a healthy portfolio and risk management regimen.

    1. Tighten up stop-loss levels to current support levels for each position.
    2. Hedge portfolios against more significant market declines.
    3. Take profits in positions that have been big winners.
    4. Sell laggards and losers.
    5. Raise cash and rebalance portfolios to target weightings.

    Here’s the hard truth: you can’t measure risk in advance.

    banner ad for SimpleVisor, our do it yourself investing tool. sign up for your free trial now

    Sectors Rotate Down And To The Right

    Within the first SimpleVisor screenshot below, the graph to the right of the sector absolute and relative analysis charts the movement of each sector score over the last two weeks. Interestingly, we notice that many sectors' paths have moved down and to the right. Consequently, the absolute scores are increasing for those moving in that direction, while the relative scores generally decrease. In other words, most sectors are seeing their technicals improve but are underperforming the market.

    The second graphic shows that despite the decent rally over the last few weeks, many absolute and relative scores remain near fair value. Typically, we would expect to see higher absolute scores. This is a sign the market remains cautious. However, if the market continues to rally, there remains a decent amount of upside before sectors and factors become overbought on an absolute or relative analysis.

    The second graphic shows that the Momentum ETF is very overbought versus the S&P 500. The third graphic breaks down its holdings. As you can see, some of its largest holdings are decently overbought on an absolute and relative analysis.

    sector analysis

    factor analysis

    momentum

    Resistance Is Futile For Bulls And Bears

    “Resistance is futile” was a sentence that struck fear in the hearts of Trekkie fans during “Star Trek: The Next Generation,” specifically in both of the “Best Of Worlds” and “First Contact” episodes. In those episodes, the “Starship Enterprise” crew encountered a species called the “Borg.” The Borg’s primary purpose was to achieve “perfection” by assimilating other beings and technologies into their “hive mind,” known as the “Collective.” They viewed assimilation as a means to expand their collective knowledge, power, and ultimately, their vision of a perfect and harmonious existence. The reason “resistance was futile” was that the centralized control, driven by the Borg Queen, allowed for swift and coordinated actions across vast distances. At the same time, the assimilation process threatened to erase individuality and homogenize the galaxy. 

    I could go on, but you are asking yourself two questions. First, is Lance a total sci-fi geek? Second, what does this have to do with the markets and investing? The answer to the first question is “yes,” as I grew up with William Shatner as James T. Kirk in the original Gene Roddenberry “Star Trek.”

    However, let’s dig deeper into the second question. READ MORE...

    bull bear market

    Tweet of the Day

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    “Want to achieve better long-term success in managing your portfolio? Here are our 15-trading rules for managing market risks.”

    Please subscribe to the daily commentary to receive these updates every morning before the opening bell.

    If you found this blog useful, please send it to someone else, share it on social media, or contact us to set up a meeting.

    The post PCE Is Quite Confusing appeared first on RIA.

  24. Site: Catholic Herald
    4 days 37 min ago
    Author: Philip Campbell

    May, the month of Our Lady, invites us to deepen our Marian devotion. While the rosary and scapular are familiar to many, one ancient practice, the Little Office of the Blessed Virgin Mary, has mostly faded from common use.

    This devotion, a compact, Marian-focused office, small enough to fit in your pocket, follows the same daily “hours” as the traditional Divine Office (e.g. Matins, Lauds, Vespers etc) with fixed prayers and psalms, offering a rhythmic, meditative way to honour Our Blessed Mother.

    The Little Office boasts remarkable antiquity, particularly in England, where it was cherished for centuries. Its brevity and daily familiarity made it accessible to the laity. Historical accounts describe mothers, little children and schoolboys chanting this office as they go about their daily duties.

    Like many ancient devotions, its origin is shrouded in mystery, but by the 8th Century we have examples of offices devoted to the Blessed Virgin in both the East and the West. The Little Office entered the Benedictine tradition through the reforms of Benedict of Aniane, who added additional offices before and after the Divine Office, including that of the Blessed Virgin Mary.

    Thanks to the Benedictine revival in England in the 10th Century, many churches and cathedrals adopted the customs of monasteries of the continent which included these additional offices. England’s fervent Marian piety, evident in its title as “Our Lady’s Dowry”, was the perfect kindling for the Little Office to spread.

    By the 11th century, Pope Urban II mandated it as an obligatory addition to the Divine Office for clerics universally, a decree announced at the 1095 Council of Clermont alongside his call for the First Crusade. This elevated the Little Office’s status across the West, cementing its place in liturgical life.

    The faithful of 13th century Paris, were said to have been drawn to the daily reciting of the Little Office in Notre Dame, finding solace in its repetitive prayers and chants, which, as one observer noted, offered “great comfort to all present”.

    By the 15th century, King Henry VI, a devotee, included in the founding statutes of Eton College that the boys, upon rising and making their beds, should say the Matins of the Blessed Lady. A 1496 report by a Venetian ambassador described English women carrying rosaries and “the Office of Our Lady”, while St. John Fisher, in his funeral sermon for Lady Margaret Beaufort, mother of Henry VII, shared that she would rise every morning to say the Matins of Our Lady.

    Whilst the Council of Trent lifted the clergy’s obligation to pray the Little Office on top of their breviary, “on account of the various businesses of this life”, it was the laity and some religious orders that kept the tradition alive. In England, it became a cornerstone of the primer, a vernacular prayer book for lay people. During the Reformation, these primers sustained persecuted Catholics, who clung to the Little Office as a lifeline of faith. Its prayers, often in English, offered solace amid suppression.

    The Little Office experienced a revival following the 1850 restoration of the Catholic hierarchy. James Burns’ 1860 translation made it widely accessible, and Pius X’s 1911 reforms standardised the version used today.

    Following the liturgical reforms after the Second Vatican Council, however, many switched to the more streamlined ‘Liturgy of the Hours’, which removed the need for a shorter office, nearly extinguishing this noble devotion by the end of the century.

    It wasn’t until Pope Benedict XVI’s 2007 motu proprio, Summorum Pontificum, which permitted a wider use of the traditional Roman Breviary, that this devotion started to be revived once again. Today, the Little Office is available from publishers like Baronius Press, whose edition includes Gregorian chant notations. Online resources, including YouTube tutorials, teach the chants, making it easier than ever to learn, and a perfect entry point for liturgical chant.

    The daily repetition, far from monotonous, fosters a meditative rhythm. As Blessed Ildefonso Schuster wrote, it draws us into “the endless land where the Church, militant and pilgrim, passes, walking towards the promised fatherland”.

    For Catholics today, the Little Office offers a unique bridge between personal devotion and the Church’s ancient liturgy. The Little Office immerses us in psalms and hymns that exalt Mary’s role in salvation history. Its structure can be adapted to busy schedules, with many praying only morning Lauds or evening Vespers.

    The Little Office has survived near extinction before; through persecution, reform and neglect. A revival in England, Our Lady’s Dowry, would be especially fitting. May is the perfect time to draw close to Mary and it is now easier than ever to pick up this treasure of the Church, one that offers a timeless path to the Immaculate Heart of Mary.

    Photo: O Mary, Conceived Without Sin, Pray for Us Who Have Recourse to Thee (2 January 1915)

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    The post The Little Office of the Blessed Virgin Mary: England’s forgotten devotion first appeared on Catholic Herald.

    The post The Little Office of the Blessed Virgin Mary: England’s forgotten devotion appeared first on Catholic Herald.

  25. Site: Real Investment Advice
    4 days 37 min ago
    Author: RIA Team

    Rising interest rates are a powerful force in the financial world, capable of reshaping markets and shifting investment dynamics. As the Federal Reserve raises rates to combat inflation or stabilize economic growth, the ripple effect is felt across stocks, bonds, and real estate. While these rate hikes may be out of investors’ control, adapting your investment strategy can help you manage risks and even uncover new opportunities.

    How Rising Interest Rates Affect Different Asset Classes

    Stocks

    Interest rate increases typically lead to higher borrowing costs for companies, which can reduce profit margins and curb growth. This especially impacts growth stocks—like tech companies—that rely on borrowing for expansion. On the other hand, sectors like financials (banks, insurance companies) may benefit, as they tend to profit from higher lending rates.

    Rising rates can also dampen investor sentiment and reduce stock valuations, as future earnings are discounted more heavily. This can result in short-term volatility, even if long-term fundamentals remain strong.

    Bonds

    The bond market is perhaps the most directly affected by rising rates. When interest rates rise, bond prices generally fall. That’s because newly issued bonds pay higher interest, making existing bonds with lower rates less attractive.

    Long-duration bonds are especially vulnerable. However, this doesn’t mean investors should avoid bonds altogether—shorter-term bonds or bond laddering strategies can help mitigate interest rate risk while still providing income.

    Real Estate

    Rising interest rates often lead to higher mortgage rates, which can reduce demand for housing and slow price appreciation. For investors in real estate investment trusts (REITs), rising rates may lead to declining property values and increased costs for leveraged properties.

    However, not all real estate reacts the same way. Commercial real estate with strong lease structures or properties in high-demand areas may remain resilient. Additionally, real estate can still serve as an inflation hedge, especially if rental income keeps pace with rising prices.

    Strategies for Adapting Your Investment Portfolio

    To weather rising interest rates, investors may need to adjust their approach and rebalance their portfolios with long-term resilience in mind.

    Adjust Asset Allocation

    A diversified portfolio is always a good foundation, but rising rates may prompt a closer look at your current asset mix. Reducing exposure to long-duration bonds, rebalancing stock holdings, and considering rate-sensitive sectors (like financials or energy) can help offset interest rate risks.

    Explore Short-Term and Floating Rate Bonds

    Shorter-duration bonds or floating-rate bond funds offer more protection in a rising rate environment. These bonds mature sooner or have rates that adjust periodically, making them less sensitive to rate hikes.

    Look for Dividend-Paying Stocks

    Dividend-paying stocks—particularly those from companies with strong balance sheets—can offer a buffer during volatile periods. These companies often have pricing power, allowing them to maintain profitability and continue returning value to shareholders.

    Reassess Real Estate Holdings

    If your portfolio includes real estate investments, review the debt structures and geographic markets of your holdings. Consider diversifying into REITs with shorter lease durations or sectors like industrial or healthcare, which may show greater resilience.

    Maintain Liquidity and Flexibility

    Keeping a portion of your portfolio in liquid, low-risk investments allows you to take advantage of opportunities as they arise. Higher interest rates may bring volatility, but also the chance to buy quality assets at more attractive prices.

    Turning a Challenge Into Opportunity

    While rising interest rates can pose challenges, they also create new opportunities for informed investors. By reassessing risk exposure and considering alternative income strategies, it’s possible to protect your portfolio while positioning for growth.

    Higher interest rates don’t have to derail your financial goals. With a proactive, diversified, and disciplined investment strategy, you can confidently navigate the shifting landscape.

    Looking to adapt your investment strategy for a changing rate environment?

    Contact RIA Advisors today to schedule a consultation. Our fiduciary team will help you build a portfolio designed to manage risk, preserve capital, and uncover opportunities—no matter what the market brings.

    FAQs

    How do rising interest rates affect bond investments?

    Rising rates generally cause bond prices to fall, especially for long-duration bonds. Short-term or floating-rate bonds can help mitigate this risk.

    Are stocks still a good investment during rising interest rates?

    Yes, but certain sectors may perform better than others. Financials and dividend-paying stocks often fare well, while high-growth tech stocks may be more vulnerable.

    Should I change my real estate investments when rates go up?

    It’s worth reviewing your real estate holdings. Properties with shorter lease durations and REITs in resilient sectors may offer better stability.

    What is the best fixed-income strategy for rising rates?

    Short-duration bonds, bond ladders, and floating-rate bond funds can offer income with lower interest rate risk.

    Can rising interest rates create investment opportunities?

    Yes. While volatility may increase, rising rates can improve yields on new bonds and create value in previously overvalued sectors.

    The post The Impact of Rising Interest Rates on Investments and How to Adapt appeared first on RIA.

  26. Site: Crisis Magazine
    4 days 57 min ago
    Author: Janet E. Smith
    pride

    Many who have written on the needed characteristics of the next pope have said such things as “The next pope needs to call the bishops to proclaim the faith boldly; to restore respect for the sacraments; to unify the polarized elements of the Church.” Few pundits note that purging the Church of the Lavender Mafia, of the homosexual priests and bishops who run the Church, is arguably the most…

    Source

  27. Site: RT - News
    4 days 57 min ago
    Author: RT

    Germany’s main political parties have failed to elect an agreed candidate as chancellor in a historic moment for the EU nation’s politics

    A proposed coalition of Germany’s liberal and conservative parties has failed to elect a chancellor in a German parliament first round vote.

    Frederich Merz, the Christian Democratic candidate who was also backed by the liberal SPD, garnered 310 votes on Tuesday, falling six short of the 316 needed for an absolute majority. The session was adjourned for consultations among political groups regarding their next steps.

    According to German media, the vote failure marks the first time in Germany’s post-war history that a chancellor candidate has been thwarted in such a manner.

    Merz’s proposed coalition, comprising his CSU/CDU bloc and the German Social Democrats (SPD), holds 328 seats in the Bundestag.

    Should Merz – or potentially another candidate – fall short in a second round held within two weeks, the procedure would go to a simple majority vote, after which the German president must appoint the winner as chancellor or dissolve the legislature.

    READ MORE: Labeling the AfD ‘extremist’ will backfire terribly

    Germany’s previous three-way ruling coalition led by the SPD collapsed last November due to disagreements over spending. The new proposed coalition has pledged to continue key elements of former Chancellor Olaf Scholz’s agenda, including support for Ukraine and unlocking a constitutional debt brake in militarization.

    Last week, Germany’s domestic intelligence agency, the BfV, designated the Alternative for Germany (AfD) party as “extremist.” The right-wing, anti-migrant movement is currently polling on par with the Christian Democrats for voter preference in a potential federal election. The AfD’s leaders have claimed that the “extremist” designation was politically motivated and aims to undermine the party’s rising popularity.

  28. Site: AsiaNews.it
    4 days 1 hour ago
    Today's News: Japan, China, South Korea, and ASEAN nations launch a new emergency loan agreement to safeguard regional financial stability. Former South Korean PM Han backs the PPP candidate for a united conservative front ahead of the June 3 vote. The UN urges 'maximum restraint' between India and Pakistan, while the OIC expresses 'concern'.
  29. Site: AsiaNews.it
    4 days 1 hour ago
    The goal of the program is to help inmates return to a "dignified life" in society. The state is prepared to allocate nearly $3.6 million for a five-year plan. The real threat of radicalization arises within prison walls. The exponential increase in convictions is linked to the political class's crackdown on dissent.
  30. Site: Crisis Magazine
    4 days 1 hour ago
    Author: Jason Jones

    It is jarring to read the recent letters Palestinian Christian leaders have sent directly to the United States Conference of Catholic Bishops (USCCB) pleading with them to stand in solidarity with the suffering Church in Gaza and the West Bank. “Homes, churches, and hospitals have been destroyed,” they wrote in a letter just this month. In an earlier letter, dated March 25…

    Source

  31. Site: Mises Institute
    4 days 1 hour ago
    Author: Thomas J. DiLorenzo
    President of the Mises Institute Tom DiLorenzo joins Saifedean Ammous on The Bitcoin Standard Podcast to discuss his work on US history and economics, and the increasing influence of the Mises Institute and Austrian school economics.
  32. Site: Zero Hedge
    4 days 1 hour ago
    Author: Tyler Durden
    US Approves $310M Training & Sustainment For Ukraine's F-16s After Minerals Deal Signed

    Authored by Dave DeCamp via AntiWar.com,

    The State Department has approved a potential $310.5 million arms sale to Ukraine for training and sustainment of the country’s fleet of US-made F-16 fighter jets, signaling that the Trump administration is preparing to provide long-term military support.

    The Pentagon’s Defense Security Cooperation Agency (DSCA) said the sale will include aircraft modifications, upgrades, personnel training, maintenance, sustainment support, and other types of equipment.

    Image: Office of the Ukrainian President

    Several of the US’s European allies have provided Ukraine with F-16 fighter jets, and the US, under the Biden administration, was involved in training Ukrainian pilots. A report from The War Zone just revealed that the US has been providing Ukraine with decommissioned, non-operational F-16 fighter jets.

    A US Air Force spokesman told The War Zone that the Air Force has "supported the sustainment of European-donated F-16s to Ukraine by providing disused and completely non-operational F-16s to Ukraine for parts."

    "These F-16s were retired from active US use and are not flyable. Importantly, they lack critical components such as an engine or radar and could not be reconstituted for operational use," the statement said.

    The approval of the F-16 training and sustainment deal came a few days after the Trump administration moved forward with its very first arms sale for Ukraine by notifying Congress of its plans to approve the export of unspecified "defense articles" worth $50 million or more.

    That first sale is being moved forward as a direct commercial sale (DCS), a deal where the State Department gives a private company permission to sell weapons directly to a foreign government. The F-16 training and sustainment deal is a Foreign Military Sale (FMS), which involves the US government in the sale.

    The US-Ukraine minerals deal signed last week also signals that the US is planning to provide long-term military support.

    U.S. President Donald Trump says "tremendous hatred" between Russia and Ukraine may block peace talks. Saying 5,000 soldiers per week are dying, Trump said “if I can save 5,000 souls, I just love doing it."#UkraineWar #Trump #PeaceTalks #RussiaUkraine pic.twitter.com/dJwT2zMiei

    — CGTN Europe (@CGTNEurope) May 5, 2025

    Under the agreement, future US military aid will count as a contribution to a joint US-Ukraine investment fund. Critics have said this ensures the US is even more intertwined in Ukraine's fate.

    Tyler Durden Tue, 05/06/2025 - 05:00
  33. Site: Rorate Caeli
    4 days 1 hour ago
     by Kevin Tierneyfor Rorate CaeliMay 6, 2025Thomas Cole, Desolation (1836)On May 7th, 2025, the world will turn its attention to Rome for the papal conclave to elect a successor to Pope Francis.  In a certain way of looking at things, it is a reminder that Catholicism, and only Catholicism, can capture the attention of the world when it comes to Christianity.  That even her foes New Catholichttp://www.blogger.com/profile/04118576661605931910noreply@blogger.com
  34. Site: Zero Hedge
    4 days 1 hour ago
    Author: Tyler Durden
    Global Press Freedom Indicator Slips

    This year's World Press Freedom Index highlights the economic situation of journalists and media organizations being a major risk to press freedom, as "today’s news media are caught between preserving their editorial independence and ensuring their economic survival".

    Due to the economic indicator of the index decreasing by more than two points in one year and the other subindices measuring the security, social, political and legal situation of the press also losing at least some ground since 2024, the overall index entered into "difficult" territory for the first time in 2025.

    "Without economic independence, there can be no free press. When news media are financially strained, they are drawn into a race to attract audiences", Anne Bocandé, RSF's Editorial Director said.

    Statista's Katharina Buchholz reports that in 160 out of the 180 countries included in the report, media outlets reported achieving financial stability only “with difficulty” or “not at all.” In a third of all countries, significant news outlets shutting down were recorded, extending to developing and developed countries.

     Global Press Freedom Indicator Slips | Statista 

    You will find more infographics at Statista

    In the U.S., the indicator dropped much more than the global average, by 5.4 points, and news deserts where local media coverage lacks were becoming the norm, the report states. 

    Additionally, the report claims that Trump administration cuts to the U.S. Agency for Global Media, affecting the Voice of America and Radio Free Europe/Radio Liberty newsrooms, added to economic difficulty and deprived over 400 million citizens worldwide of access to reliable information. 

    USAID cuts also affected journalists all over the world who had received funding, including in Ukraine.

    The security, social and legal situation of journalists in a worldwide average continues to be rated as "not difficult", if only slightly so at ratings between 58 and 67 points (where anything under 55 signals a difficult situation). The political situation of global media has been rated as "difficult" since last year, while the economic situation of the press has been in difficult territory for longer. 

    However, in 2025, it reached a new low of just 44.1 points.

    Tyler Durden Tue, 05/06/2025 - 04:15
  35. Site: RT - News
    4 days 2 hours ago
    Author: RT

    The US president indicated that he does not believe claims that Russia destroyed its own pipelines

    US President Donald Trump has dismissed claims that Russia was behind the 2022 sabotage of the Nord Stream gas pipelines and suggested that the true culprit is widely known – without naming names.

    Speaking at a White House press event, Trump said there was no need for a formal investigation to uncover who carried out the attack, which crippled a key energy route between Russia and Western Europe.

    Three of the four Nord Stream pipelines, built to deliver Russian gas to Germany and the rest of Western Europe, were damaged by blasts at the bottom of the Baltic Sea in September 2022.

    On Tuesday, a correspondent for libertarian financial blog ZeroHedge, which has been admitted to White House press events under the new administration, noted that Trump had previously rejected the Western narrative that Russia blew up its own pipelines, and asked the president if he was planning to initiate a probe to find out who was actually behind the attack.

    Read more RT Trump responds to AI pope image criticism

    “If you can believe it, they said Russia blew it up,” Trump responded. “Well, probably if I asked certain people, they would be able to tell you without having to waste a lot of money on an investigation. But I think a lot of people know who blew it up,” he added, without elaborating.

    ZeroHedge suggested that Trump’s comment meant that “based on classified intelligence he knows exactly who was behind” the destruction of Nord Stream. It also “should put the ‘Russia destroyed its own vital and economically lucrative pipeline’ storyline to rest,” the outlet insisted.

    In early February 2023, veteran investigative journalist Seymour Hersh published a report claiming that then US President Joe Biden had given the order to destroy Nord Stream. According to an informed source who talked to the Pulitzer Prize-winning journalist, the explosives that were detonated on September 26, 2022 had been planted at the pipelines by US Navy divers a few months earlier under the cover of a NATO exercise called ‘Baltops 22’. The White House denied the report, calling it “utterly false and complete fiction.”

    READ MORE: Trump to hit non-US films with 100% tariff

    Senior Russian officials, including President Vladimir Putin, have previously pointed the finger at the US as the possible culprit behind the Nord Stream explosions. They have argued that Washington had the technical means to carry out the operation and stood to gain the most, considering that the attack disrupted Russian energy supplies to the EU and forced a shift to more expensive US-supplied liquefied natural gas.

  36. Site: Mises Institute
    4 days 3 hours ago
    Author: Conor Sanderson
    The antitrust lawsuit against Google by the United States Department of Justice (DOJ) seeks to dismantle the tech giant on the grounds that it has “monopolized the internet search market.” This is nothing but an overreach that shatters the very pillars of a free and competitive marketplace.
  37. Site: Rorate Caeli
    4 days 3 hours ago
    by Aurelio Porfiri, in Romefor Rorate CaeliMay 5, 2025Rome, the city that seems indifferent to everything and everyone, awaits the Conclave with curiosity. A curiosity that often turns into folklore and is no longer lived in the light of faith. This concerns more and more people—not only in Rome. Precisely for this reason, the new Pope cannot avoid considering that the proclamation of the faith New Catholichttp://www.blogger.com/profile/04118576661605931910noreply@blogger.com
  38. Site: Zero Hedge
    4 days 3 hours ago
    Author: Tyler Durden
    The Czechs Are By Far The World's Biggest Beer Drinkers

    Today, Czechia officially recognizes beer culture as part of its national heritage, with 96% brewed domestically.

    What’s more, Czechs hold the world’s highest per capita beer consumption, a tradition dating back to 993.

    Similarly, Germany and Belgium also recognize beer culture as official heritage and rank among the top beer-drinking nations, thanks to its enduring place in their national cultures.

    This graphic, via Visual Capitalist's Dorothy Neufeld, shows the countries that consume the most beer per capita, based on data from Kirin Holdings.

    Czechia Ranks First in Per Capita Beer Consumption

    For the 31st year in a row, Czechia tops the list, even amid an annual decline.

    Notably, the original Budweiser traces its roots in the country, where beer from the South Bohemian region is called “Budweiser”. In 1876, a German immigrant in the U.S. adopted the name for his brewery, paying homage to the traditional Czech style.

    Below, we show the top 35 countries with the highest beer consumption per capita:

    Ranking in second is Austria, where pale lagers, known as “Märzen” are the standard beer.

    Meanwhile, Lithuania and Ireland follow closely behind, where the average person drinks over 100 liters of beer in a year. In Ireland, Guinness is widely considered the national beer, with the original St. James Gate brewery now over 260 years old.

    Interestingly, however, both the UK and Nigeria consume more Guinness than Ireland, thanks to their vibrant beer cultures. In fact, one in 10 beers sold in the UK is a Guinness.

    If we look beyond Europe, PanamaMexicoGabon, and South Africa also rank among the top 20 countries

    To learn more about this topic from a wine-based perspective, check out this graphic on which U.S. states consume the most wine.

    Tyler Durden Tue, 05/06/2025 - 02:45
  39. Site: Mises Institute
    4 days 3 hours ago
    Author: Jonathan Newman
    This slim book engagingly written encapsulates the basic lessons of money and of how it is deformed by government and central banking in a magical story that will charm and enlighten young readers.
  40. Site: Zero Hedge
    4 days 4 hours ago
    Author: Tyler Durden
    European Leaders Talk Of EU Army

    Authored by Mark Nayler via the Foundation for Economic Education (FEE),

    Europe is once again talking about forming its own defense alliance. The idea of a European army—discussed on and off since the early days of the Cold War—was revived in February by Volodymyr Zelensky. The Ukrainian president claims that Donald Trump’s retraction of military support for Ukraine and ambivalence towards the EU shows that the bloc urgently needs its own military unit. Zelenskyy has reignited a debate that has failed to generate consensus within Europe, despite its long history.

    Spain’s Socialist prime minister, Pedro Sánchez, is the latest EU leader to echo Zelenskyy—and according to a YouGov poll conducted in 2022, 64 percent of Spaniards are on his side. On March 28, he announced that Europe needs its own defense force to combat “old imperialist impulses in Russia,” especially in light of reduced support from the US. He called for a military force “with troops from all 27 member countries, working under a single flag with the same objectives.” Sánchez also wants greater economic integration within the bloc, and recently proposed a debt mutualization scheme—which has caused division along similar lines as the idea of a 27-nation army.

    Despite Sánchez’s crusading rhetoric, one suspects there’s a self-interested motivation behind his call for an EU army. He is under intense pressure from both the EU and the United States to increase Spain’s defense spending; but anti-military sentiment in the country is strong, and he governs in partnership with Sumar, a leftist alliance that opposes increased investment in arms and troops. By claiming that EU defense is a collective, rather than national, responsibility, Sánchez no doubt hopes to deflect attention from his own difficulties.

    The EU does collaborate on defense to some extent. At any one time, at least one multinational Battle Group, consisting of 1,500 troops, is on standby. These reached operational capacity in 2007, but according to the multinational military headquarters Eurocorps, “issues relating to political will, usability, and financial solidarity have prevented them from being deployed.” Precisely the same problems would arise within an EU army, of course—but on a much larger scale. There is also the European Maritime Force, formed in 1995 by Spain, France, Italy, and Portugal to conduct sea control, crisis response operations, and humanitarian missions. Advocates of an EU army argue that while these collaborative forces are an important pillar of the bloc’s defense, they are not equipped for long-running conflicts. They also claim that the EU is too dependent on the US for protection—a point on which Trump 2.0 completely agrees.

    The notion of an EU army was first suggested in the early 1950s as a way of building capability against the Soviet Union without rearming West Germany. Proposed by the French government, it would have consisted of the EU’s six founding members—France, Luxembourg, the Netherlands, Italy, West Germany, and Belgium. A treaty creating the European Defence Community was signed in 1952, but never ratified; instead, West Germany joined NATO and the Western Union, a military alliance formed in 1948, and the idea was shelved.

    This decades-old idea was revived in 2016. Then, as now, a perceived threat from Russia was intensified by the sudden withdrawal of a military heavyweight. Following the Brexit referendum, in which 52 percent of the UK opted to leave the EU, the prime ministers of Hungary and the Czech Republic called for a European army. They were joined by Ursula von der Leyen—then Germany’s defense minister—who said that Europe needed a “Schengen of defense”—a reference to the continent’s border-free Schengen Area, made up of 29 nations (four of which are outside the EU). Jean-Claude Juncker, her predecessor as president of the EU Commission, had said a year earlier that the EU needed its own army in order to “convey a clear message to Russia that we are serious about defending our European values.” Whenever those are perceived to be in danger, the old idea of an EU army is reanimated.

    Since Brexit, it has steadily gained traction. The idea was endorsed in 2018 by Angela Merkel, then the German chancellor, and French president Emmanuel Macron. A furious Trump, at that point halfway through his first term, saw it as an act of ingratitude towards NATO: “They were starting to learn German in Paris before the US came along,” he tweeted (a misleading reference to World War II). Ursula von der Leyen, president of the EU Commission since 2019, has called for a “European Defence Union,” and last month unveiled “Rearm Europe”—a five-year plan quickly rebranded “Readiness 2030,” after Spain and Italy complained that the original title was too militaristic. (Sánchez didn’t explain how that objection sits with his demand for an EU fighting force, presumably armed with more than goodwill.) Von der Leyen plans to mobilize €800 billion for the bloc’s defense over the next five years, by which point some analysts believe Russia could be ready to attack a member of NATO or the EU. Italy’s foreign minister, Antonio Tajani, also supports the idea of an EU army.

    But Kaja Kallas, the EU’s foreign affairs chief and vice president of the EU Commission, claims that it’s not necessary. What’s more important, she says, is that the bloc’s 27 armies “are capable and can effectively work together to deter our rivals and defend Europe.” She is supported by Poland’s foreign minister, Radosław Sikorski, who is adamant that an EU army “will not happen,” and Denmark, which has historically seen NATO as the continent’s primary defense mechanism. During its membership of the bloc, the UK opposed the idea of an EU army for the same reason, arguing that it would unnecessarily duplicate NATO.

    One of the major practical difficulties is how a 27-nation army would be funded. The issue of mutual financing has also arisen over the EU’s call for members to increase their national defense budgets—and there is no agreement there, either. Rather than the cheap loans suggested by von der Leyen as part of the “Readiness 2030” plan, heavily indebted southern nations such as Spain and Italy favor common defense bonds, or grants similar to those distributed during the pandemic. The suggestion has revived a long-standing grievance amongst wealthier northern members such as Germany and the Netherlands, which are reluctant to fund joint initiatives: “No Eurobonds,” said Dutch prime minister Dick Schoof after a meeting of EU leaders in late March. Another possibility, as recently suggested by France’s economy minister, is increasing taxes, especially on the wealthy.

    Sánchez claims the EU should reconsider the idea of a joint army because its individual members have been unable to find common ground on defense. But that same problem would likely prevent the creation of an EU fighting force. Since their formation almost twenty years ago, none of the EU’s Battle Groups—which typically consist of troops from three or four countries—have been activated. This hardly suggests that the bloc is ready to form a 27-nation army, controlled from Brussels and entering battle under a blue-and-gold flag.

    Tyler Durden Tue, 05/06/2025 - 02:00
  41. Site: The Unz Review
    4 days 5 hours ago
    Author: Mike Whitney
    On Thursday, President Donald Trump delivered a fiery statement on his Truth Social website. He said: Most people who read Trump's statement assumed that the president was planning to tighten economic sanctions on Iran. But that misses the point entirely. The real target is China because China imports 85-90% of Iran’s oil output, roughly 1.5...
  42. Site: AntiWar.com
    4 days 6 hours ago
    Author: Joseph D. Terwilliger
    Earlier this week, North Korea officially confirmed what had long been rumored: its troops fought and died alongside Russian forces in Kursk to help repel the Ukrainian invasion. Kim Jong Un announced the construction of a memorial in Pyongyang, saying, “Before the tombstones of the fallen soldiers, flowers will be laid as a token of … Continue reading "How Kursk Changed Everything and Opened a Window for Peace in Korea"
  43. Site: AntiWar.com
    4 days 6 hours ago
    Author: Eric Margolis
    Reprinted with permission from EricMargolis.com. One of the world’s, oldest and most dangerous conflicts went critical this past week as nuclear armed India and Pakistan traded threats of war. The Kashmir conflict is the oldest one before the UN. In my book `War at the Top of the World’ I warned that the confrontation over … Continue reading "Will We See Mushroom Clouds Over Kashmir?"
  44. Site: The Unz Review
    4 days 6 hours ago
    Author: Paul Craig Roberts
    The foreign policy of the United States is in the hands of the least capable, most uninformed, and most reckless morons the American education system has yet produced, and their successors, if any, will be worse. American aggression toward the world is hidden under a euphemism: “national defense.” In past years before euphemisms took over...
  45. Site: The Unz Review
    4 days 6 hours ago
    Author: Kevin Barrett
    Rumble link Bitchute link Ann Arbor, MI activist Henry Herskovitz revisits his classic article “The Role Of Jews In The Palestinian Solidarity Movement” (reproduced below). Born Jewish, Henry Herskovitz tendered his resignation from the Tribe after an eye-opening trip to Occupied Palestine. For 20 years he has been leading weekly “Witnesses for Peace” demonstrations outside...
  46. Site: The Unz Review
    4 days 6 hours ago
    Author: Patrick Lawrence
    This is the last of four reports on Germany in crisis. The preceding parts of this series are here, here, and here. DRESDEN—When Friedrich Merz is formally named Germany’s next chancellor on May 6, it will be a significant event and a nonevent all at once. The war-mongering Merz will lead the Federal Republic down...
  47. Site: The Unz Review
    4 days 6 hours ago
    Author: Jonathan Cook
    Nineteen months into Israel’s slaughter of Gaza’s children, moral ghouls like Simon Schama and Simon Sebag Montefiore are still being given a platform to smear as ‘antisemites’ opponents of genocide Anyone who at this point is still prioritising concerns about tackling antisemitism in Britain, the United States or Europe over halting a 19-month genocide in...
  48. Site: Zero Hedge
    4 days 6 hours ago
    Author: Tyler Durden
    Bangladesh Is Back At It Again With Another "Plausibly Deniable" Territorial Claim To India

    Authored by Andrew Korybko via substack,

    Bangladesh’s increasing alignment with China and Pakistan could imperil India’s Great Power plans...

    Bangladeshi Major General (retired) A.L.M. Fazlur Rahman, who serves as chair of the National Independent Commission of Inquiry investigating the 2009 Bangladesh Rifles massacre, posted on Facebook that Bangladesh should occupy India’s Northeastern States if India goes to war with Pakistan. He later explained that preparing for this scenario might deter India, which could in turn prevent Pakistan’s possible defeat, thus averting the existential threat that India would then pose to Bangladesh.

    The incumbent government, which came to power after last summer’s US-backed regime changedistanced itself from his post but the damage to bilateral trust was done. Rahman’s words followed interim Bangladeshi leader Muhammad Yunus’ scandalous comments about India’s Northeastern States during a trip to China earlier this year. They were analyzed here at the time as a veiled threat to once again host Indian-designated terrorist-separatist groups if India doesn’t make concessions to Bangladesh.

    This year’s two territorial controversies thus far were preceded by Yunus’ special assistant Mahfuj Alam sharing a provocative map on X in late December that made claims to surrounding Indian states, with these sequential developments altogether ringing alarm bells in Delhi about Dhaka’s intentions. Although each were “plausibly deniable” in that no official territorial claims were made, the trend is unmistakable, and it’s that the new Bangladeshi authorities are weaponizing fears of this scenario.

    From their ultra-nationalist perspective, this is a pragmatic means to rebalance what they consider to be Bangladesh’s lopsided relations with much larger India, but it risks backfiring by heightening Delhi’s threat perceptions with all that entails. In the current context of India signaling that it might launch at least one surgical strike against Pakistan in retaliation for last month’s Pahalgam terrorist attack, Indian military planners can’t confidently rule out that Pakistan might coordinate its response with Bangladesh.

    To make matters worse, Rahman also wrote in his two posts that Bangladesh “needs to start discussing a joint military system with China”, which lays claim to India’s Northeastern State of Arunachal Pradesh. Seeing as how there’s always the possibility that another Indo-Pak war could lead to China intervening on Pakistan’s side, which Indian military planners call the two-front war scenario, this latest twist could lead to a three-front war as the incumbent Bangladeshi government aligns closer with both against India.

    India already felt that it was becoming encircled by China over the past decade, but this might soon evolve into a siege mentality if ties with Bangladesh continue to worsen due to its officials’ rhetoric. The new regional security system that’s taking shape as Bangladesh de facto incorporates itself into the Sino-Pak nexus could decisively shift the balance of power against India. In response, India might intensify the military dimension of its strategic partnership with the US, albeit more on the US’ terms than before.

    India cherishes its strategic autonomy, which is why it’s thus far declined to participate in the US’ multilateral containment of China, but that could change if the US informally makes more military-strategic support of India depend on this. 

    Amidst its increasing encirclement that might soon evolve into a siege mentality as explained, India might feel that it has no choice but to concede to this so as to avoid being coerced into concessions by China, either scenario of which could imperil its Great Power plans.

    Tyler Durden Mon, 05/05/2025 - 23:25
  49. Site: Euthanasia Prevention Coalition
    4 days 7 hours ago
    Alex Schadenberg
    Executive Director, Euthanasia Prevention Coalition

    Chris Eyte wrote an article that was published by Christian Daily on May 5, 2025 reporting that Belgium is debating extending their euthanasia law to include people with dementia.

    I published an article on April 16, 2025 reporting that the Netherlands D66 political party are promoting euthanasia for people with dementia.

    Eyte stated that the proposed changes would mark a significant expansion to Belgium’s euthanasia law. Eyte reports that since legalization in 2002, there have been 37,606 reported euthanasia deaths in Belgium, as of 2023. Eyte writes:
    The bill was introduced in Belgium’s Federal Parliament on Sept. 4, 2024. Two members of the Open Flemish Liberals and Democrats—Irina de Knop, mayor of Lennik, and Katja Gabriëls—have been leading voices in favor of the amendment.
    Euthanasia is about killing people. 

    Euthanasia is sold to the public as providing competent adults who are freely capable of consenting the option of euthanasia.

    As bad as euthanasia is, euthanasia for people with dementia concerns killing people who are incompetent and not capable of consenting. It is not about freedom, choice or autonomy.
  50. Site: RT - News
    4 days 7 hours ago
    Author: RT

    The air raid comes a day after a Houthi missile attack on Ben Gurion Airport

    Israel has launched a series of airstrikes on Houthi-controlled targets in Yemen in retaliation for the rebel group’s ballistic missile strike on Ben Gurion International Airport near Tel Aviv.

    The Israeli Defense Forces (IDF) said that around 20 fighter jets participated in Monday’s operation, dropping at least 50 munitions on “dozens of targets,” including the Hodeidah port complex and a concrete factory in Bajil.

    The IDF described the targets as critical to the Houthis’ military logistics, alleging that they served as conduits for Iranian arms shipments.

    According to Yemeni sources, the strikes resulted in at least one death and 35 injuries. Rescue operations were still ongoing as of Tuesday morning, with authorities searching for possible victims trapped under the rubble.

    The air raid came one day after a Houthi missile struck near Ben Gurion Airport, injuring six people and temporarily disrupting air traffic.

    Fresh footage shows the Israeli strikes on the Houthis cement factory in Bajil.

    This is a massive factory and heavy blow. pic.twitter.com/orv0YA1hTy

    — Open Source Intel (@Osint613) May 5, 2025

    It was the first time a Houthi projectile had reached the vicinity of Israel’s main international airport, prompting strong condemnation and threats of retaliation from officials.

    Two people were killed as Israel launched 50 air strikes on Yemen’s Hodeidah port region and a cement factory, local media report. The strikes followed a missile from Yemen that hit Israel’s Ben Gurion airport on Sunday. pic.twitter.com/Vu2ma62fXc

    — Al Jazeera English (@AJEnglish) May 5, 2025

    “Israel will respond to the Houthi attack against our main airport and, at a time and place of our choosing, to their Iranian terror masters,” Prime Minister Benjamin Netanyahu said on Sunday, blaming Tehran for orchestrating the assault.

    Prime Minister Benjamin Netanyahu, today at the Air Force command center at the Kirya during the attack on Houthi terrorist regime targets in Yemen. pic.twitter.com/iTX6nrOuSz

    — Prime Minister of Israel (@IsraeliPM) May 5, 2025

    The Houthis, who control much of western Yemen, including the capital Sanaa and the port of Hodeidah, have launched numerous drones and missiles at Israeli territory and commercial vessels in the Red Sea over the past year. The group says its actions are in support of Palestinians and in protest of Israel’s military campaign in Gaza.

    Read more  An Israeli soldier sits on a tank near the border with the Gaza Strip, March 18, 2025. Israel approves full ‘conquest’ of Gaza – media

    The Houthis have also warned of a “comprehensive aerial blockade” on Israel if it proceeds with a renewed offensive in Gaza. Despite the warning, Israel reportedly approved a plan on Monday for the full military occupation of Gaza and the forced relocation of its Palestinian population to the territory’s southern areas, according to multiple media outlets.

    Since returning to office, US President Donald Trump has ordered the Pentagon to escalate strikes against the Houthis, warning that the group would be “completely annihilated” unless it ceases its attacks. Washington and Israel have both accused Iran of arming and directing the Houthis, though Tehran has denied the allegations.

    Read more US Defense Secretary Pete Hegseth listens as President Donald Trump speaks during a visit to Selfridge Air National Guard Base, Michigan. Pentagon chief threatens Iran amid Houthi attacks

    The United States did not directly participate in the latest Israeli airstrikes, but coordinated closely with Israel, a senior US official told Axios journalist Barak Ravid. Another official cited by Al Jazeera did not rule out the possibility that non-lethal support was provided.

    Separately, US forces conducted their own airstrikes on Monday, reportedly targeting Houthi positions near Sanaa, an unnamed US official told the Associated Press.

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