Assuredly, the word of truth can be painful and uncomfortable. But it is the way to holiness, to peace, and to inner freedom. A pastoral approach which truly wants to help the people concerned must always be grounded in the truth. In the end, only the truth can be pastoral.
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Site: The Unz ReviewThe Irish Electoral Commission asked people if they agreed with the statement that a “small secret group” make all major decisions in world politics. Only 47% disagree. Scientists are not popular either: Only half disagree that “Groups of scientists manipulate, fabricate or suppress evidence in order to deceive the public.” In the election we apparently...
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Site: AntiWar.comOn May 16, Russia and Ukraine held their first direct talks since the first months of the war. Despite the pessimistic evaluation by Ukrainian and European leaders, the return to diplomacy is itself a major achievement and step forward. The talks lasted an hour and forty minutes. Western leaders and Western media have given the … Continue reading "Western Media Falsely Presented the Ukraine-Russia Talks as a Failure"
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Site: The Unz ReviewWestern journalists – having promoted Israel’s lies for more than a year and half – have grown entirely insensible to their active collusion in genocide Israel’s claim that Hamas is “stealing aid” is so preposterous no serious journalist or politician ought to give it any kind of airing – yet there it is continuously cropping...
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Site: The Unz ReviewHector is tricked into combat and killed beneath Troy’s city walls. Trump might well heed the moral to The Iliad story. Presentation at the XXIII International Likhachev Scientific Readings, St Petersburg University of Humanities and Social Sciences, 22-23 May 2025 – Transforming the World: Problems and Prospects’, XXIII International Likhachev Scientific Readings, St Petersburg Last...
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Site: The Unz ReviewHans Vogel exposes the EU’s rewilding agenda as a project that dismantles rural life, drives Europeans into controlled urban zones, and unleashes growing danger through unchecked mass immigration, turning cities and countrysides alike into hostile terrain of wolves, wild boars, and violent “asylum seekers.” With great effort and lavish funding, Europe is being made a...
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Site: AntiWar.comFormer FBI director James Comey has provoked a First Amendment firestorm with a display of sea shells that included the sequence: “86 47.” Many supporters of President Donald Trump note that in popular culture “86” frequently is used as slang for eliminating (killing) someone. “47,” they conclude, obviously refers to Trump, the 47th president of … Continue reading "James Comey Should be Shunned, Not Prosecuted"
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Site: The Unz ReviewIn 1995, 30 years ago, Henry Regnery published my book, The New Color Line. Henry told his son Alfred that my book was the second most important book, after Russell Kirk’s The Conservative Mind, that the publishing house had ever published. Reviewers agreed. Irving Kristol, the father of the neoconservatives, called attention in The Public...
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Site: AntiWar.comDeal-making is said to be President Trump’s specialty, yet after five rounds of indirect talks with Iran – most recently just days ago – we seem as far away from an agreement as ever. The fifth round ended last Friday with no breakthrough, but at least no breakdown. However, each day that passes without a … Continue reading "Take the Iran Deal, President Trump"
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Site: The Unz ReviewRussian officials will ignore President Donald Trump’s tweets in order to focus on the main chance. “We do not consider the infantile attitude of Trump as a problem,” an official source said, responding to Trump’s statement and tweets of May 26 and 27. “We consider he is the legitimate counter party [for end-of-war negotiations]. We...
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Site: Zero HedgeA Dying Man Will Try Any MedicineTyler Durden Mon, 05/26/2025 - 23:25
Authored by Chris Macintosh via InternationalMan.com,
Boy, oh boy are things… um… interesting. I almost miss the days of green-haired teenage girls with hairy armpits gluing themselves to the road to make the weather better.
Now we have craziness at the international trade level. At its core, it’s all politics.
The now dead George Carlin had a skit where he told us why he doesn’t vote. To quote:
“I don’t vote. Two reasons I don’t vote. First of all, it’s meaningless. This country was bought and sold and paid for a long time ago. The isht they shuffle around every four years… doesn’t mean a f* thing.
And secondly, I don’t vote because I believe if you vote, you have no right to complain. If you vote, and you elect dishonest incompetent people and they get into office and screw everything up, well… you are responsible for what they have done.”
We’ve had some conversations with clients who are questioning their own voting after the trade war kicked off. The problem with taking a position for or against any politician is that probability is not in our favour. We’re bound to be disappointed because the vast majority of these podium donuts aren’t there for our benefit. Sure, some of the things they may espouse are to our benefit, but then others aren’t. What to do?
Well, I think it’s best not to get caught up in the mental gymnastics of it all and simply keep reviewing the actions and data and then making decisions for ourselves accordingly.
As far as the tariffs go, at first glance they make no sense. The orange man said they are “reciprocal,” but any idiot with two thumbs and an interwebs connection can quickly do the math and determine this is hogwash. What they are is quite simple — they are based on other countries’ trade surplus with the US.
The supposition around “reciprocal” came unglued as soon as they tried to figure out why on God’s green earth there were tariffs on an uninhabited island that has only penguins. Wait… what!? Anyone then following their nose saw that the narrative fell apart faster than logic at a climate change gathering.
What this amounts to is an attempt to restructure creditors. It’s what you do in bankruptcy. Trump appears now to be bringing his experience in chapter 11 proceedings onto the global stage.
This is a big deal! From where we sit, there are four big forces through history that drive everything, all of these are interconnected and in many instances causal to each other:
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The monetary and credit cycle where nations get into a sovereign debt problem, which needs to be dealt with.
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Domestic conflict, typically beginning as political disagreement, but where disagreement isn’t resolved by discourse.
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A rising power challenging the existing power and causing international conflict.
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Technological changes that assist in disrupting the status quo.
So the first changes the monetary order. The second changes the political order. And the third changes the international order, while the fourth assists in ushering it in.
How does this all play out?
Well, let’s start with what we’ve been watching recently. No, not the Chinese laughing at bringing manufacturing back to the US…
Confucius philosophy says:
“If you want to govern a country, you must first govern your family. If you want to govern your family, you must first govern yourself.”
The issue here isn’t about “fair trade.” It is about survival, though.
Former Greek finance minister Yanis Varoufakis dropped some hard truths about the real reason behind the US- China trade war.
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The US doesn’t fear China because of “cheap labor” or “IP theft.” What it truly fears is China’s capacity to undermine the US-led global financial order — the very system that allows America to print dollars and buy the world.
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Wall Street’s aging financial architecture is losing its grip. It can’t control crypto flows. It can’t keep up with new financial ecosystems. China — with its digital yuan, vast industrial base, and rising global influence — is the first real threat to this system.
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Trump’s “reciprocal tariffs” were never about balancing trade. They were a desperate attempt to slow down China’s rise and protect the dollar system from collapse. Because if China succeeds, the US loses its magic weapon: monetary dominance. See point 2 above.
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Today, Trump is laser-focused on America’s financial core with the Treasury bond market (America’s lifeline) and the stock market (America’s wallet). Both are fragile. And any external pressure could trigger a chain reaction.
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The US is now panicking over who’s selling off US Treasuries. China? Japan? Others? Trump reportedly wants to punish any surplus country that dumps Treasuries — with tariffs, of course. This is not about trade. It’s about a dying empire trying to stop the bleeding.
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In short, America is no longer confident in its own financial fortress. And China is no longer playing by the old rules. This isn’t just a trade war — it’s a war for the future of global finance.
Further to this point, the famous Ben Rickert (for those who’ve watched The Big Short) highlighted this issue:
“For the first time ever, China’s CIPS (Cross-Border Interbank Payment System) surpassed SWIFT in single-day transaction volume. A red banner flashed across Bank of China’s HQ at 1:30AM on April 16, 2025.
CIPS processed a jaw-dropping ¥12.8 trillion RMB in just one day—roughly $1.76 trillion USD. That volume, if verified, overtakes the greenback-dominated SWIFT system in sheer daily cross-border throughput.
No fireworks, no Western headlines. Just one quiet early morning in Beijing where the dollar’s crown slipped. The world’s financial plumbing just got a reroute—through China.”
This of course is known to those who DON’T rely solely on Western propaganda media.
Now, consider the US bond market.
The problem is that the US can’t just do what Milei is doing. The debt is too large, and because US treasuries are embedded in the very fabric of global financial markets, paying down that debt has ramifications that Milei simply doesn’t have to contend with.
To highlight the issue: consider that the most significant effort to cut government spending (DOGE) is set to yield $50 billion in annual savings. Awesome… until you realise that this is on the back of a $7.5 trillion budget. They haven’t even managed to cut 0.75% of spending. Furthermore, the US has to borrow over 10% of GDP annually to keep the lights on.
Now they’re weaponizing the dollar and trade in a desperate attempt to “Make America Great Again.” The rest of the world is preparing.
Something else…
Gold has a long way to go. That being said, it is looking a bit frothy right now, so if you’re the sort that will freak out if you see a decent pullback in a bull market (20-30%), you may want to check yourself on going “all in” here. On the other hand, it’s a bull market, and if — like us — your timeframe runs into the years, then you’re simply ensuring your allocation is adequate and leaving the rest to the market gods.
The old adage is worth considering — never sell a bull market and never buy a bear market. Bonds are in a bear market… and gold is in a bull market.
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We are living through a rare and pivotal moment in financial history — a time when the old order is unraveling, and a new one is being born. The geopolitical chessboard is shifting, trade is being weaponized, and the dollar’s dominance is quietly being challenged in real time. This isn’t business as usual. It’s a systemic clash. If you’re trying to make sense of how to invest amid collapsing narratives, geopolitical chaos, and the breakdown of the global financial order, this is the moment to dig deeper. Download our exclusive special report: Clash of the Systems: Thoughts on Investing at a Unique Point in Time Inside, we explore the key dynamics reshaping the world order — and what it means for your capital. Click here to get it now.
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Site: Zero HedgeMaintaining The Shine Of Our Lost Soldiers On Memorial DayTyler Durden Mon, 05/26/2025 - 22:15
Authored by Allan Stein via The Epoch Times,
Tom Pawlak and Robert Trae Zipperer live 2,200 miles apart, but they share a common belief: that unlike old soldiers, no gravestone or marker of a U.S. military member should ever fade.
For Pawlak, 73, from Arizona, restoring the bronze plaques of veterans and those lost in combat to their original pristine condition has become his mission in life.
Zipperer, 56, is a Navy veteran from Florida who is equally passionate about restoring gravestones.
Pawlak’s quest began during a visit to a private cemetery in Phoenix in 2014, where some plaques were badly tarnished and hard to read.
As Pawlak scrubbed, buffed, and polished one marker, the name of U.S. Marine Pfc. Oscar Palmer Austin began to emerge.
Born on Jan. 15, 1948, Austin died in Vietnam on Feb. 23, 1969.
Pawlak then realized that Austin, a 21-year-old African American soldier from Texas, was not an ordinary recruit; he had received the Medal of Honor for bravery on the battlefield and the Purple Heart after being wounded.
The U.S. Navy later named a guided missile destroyer in his honor—the USS Oscar Austin.
Pawlak reached out to the ship’s commander to share his discovery and the restoration work he had completed. Two weeks later, he received a package from the Navy that contained a flag, as well as a blue cap with “USS Oscar Austin” emblazoned on it.
He began wearing the cap everywhere he went.
“As soon as I began wearing the cap, people would stop me on the street to talk,” he said.
He started going out more often to cemeteries, polishing and sanding the letters on the tarnished bronze plaques, Pawlak said.
Robert Trae Zipperer, founder of VeteranGraves.com, launched a volunteer effort cleaning gravestones across the nation in 2019. Courtesy Robert Zipperer
In 2014, he founded Mission Restore Bronze, a social media movement on Facebook that has drawn thousands of volunteers to the cause.
Remembering a Friend
Originally from Chicago, Pawlak never served in the military. However, he feels a deep connection with veterans and the military—he lost a friend just three weeks after the friend arrived in Vietnam in 1967.
He thinks of him every time he visits a cemetery and notices the sad condition of the bronze grave markers.
“I‘ll walk through a cemetery and see a bad marker. I’ll have everything with me and finish it,” Pawlak said.
Pawlak recalls his first volunteer: a naval commander who wanted to restore his father’s bronze plaque in Tampa Bay, Florida.
Other volunteers would ask him how to clean plaques when visiting cemeteries.
Pawlak offers free jars of his proprietary wax, along with video instructions on how to apply it correctly for lasting results.
The volunteer effort “just exploded from the start,” he said.
“I couldn’t leave the house. I took a shower and had 16 messages when I returned,” he said.
His efforts have inspired at least one Eagle Scout project in the Phoenix area.
In 2017, 13-year-old Levi Brown assembled a team to clean and restore approximately 250 bronze grave markers at Greenwood Cemetery in Phoenix.
Pawlak said he has no idea how many military personnel plaques have been cleaned and restored through his virtual movement.
Tom Pawlak of Arizona started Mission Restore Bronze Markers in 2014 as a one-man effort that has grown into thousands of volunteers nationwide. Courtesy of Tom Pawlak
Most volunteers are people he doesn’t know and has never met in person.
Since his project launched, Reserve Officers’ Training Corps programs for youths have carried the mantle forward, as well as court diversion programs and other groups.
“I‘ll just walk around and hand out wax jars to people,” Pawlak said. “I’ll have markers that I take care of regularly—people I’ve known.”
Often, he'll get a call from a potential volunteer and send a jar of wax on request. Each jar contains enough product to clean 12 to 16 markers.
However, if Pawlak had to estimate the number of volunteers, it would potentially be well over 75,000, based on the viewership of his YouTube videos.
“We’ve included first responders and police. I'll supply them with wax,” he said.
During another visit to Phoenix, Pawlak felt compelled to take action when he noticed that the bronze plaques commemorating the 622 Arizona soldiers killed in Vietnam needed love and care.
With a brush in hand, he and other volunteers scoured, scrubbed, and waxed the bronze plaques and statues of foot soldiers, restoring them to a remarkable shine for Memorial Day.
He’s also cleaned bronze plaques in Washington and even the statue of Gen. George S. Patton at the museum dedicated to Patton in California.
He said that getting down on his knees to clean is easy, but getting back up is hard. He could use more eager, younger volunteers.
Keeping Honor Clean
While researching his family tree in Lee County, Florida, Zipperer observed that many military gravesites were in poor condition, with some hardly legible due to mold.
A veteran's headstone is covered in black mold. Courtesy of Robert Zipperer
The once-bright headstones had turned dark gray, making the names hard to read.
Zipperer faced frustrating regulatory challenges in Fort Myers before finally obtaining the necessary approval to clean the headstones in time for Memorial Day in 2019.
Initially, city officials claimed he needed permission from the families to clean the headstones, warning that he would be trespassing and “soliciting” otherwise.
However, after Zipperer brought his case to the media, the city changed its position.
“I’m just a guy that doesn’t take no for an answer. You can’t have a veteran’s headstone covered in crud. It’s just not American,” Zipperer told The Epoch Times.
The headstone as it now appears after cleaning. Courtesy of Robert Zipperer
Rules for Restoration
Zipperer later discovered no standard operating procedures at the local, state, or federal levels concerning cleaning veterans’ grave markers.
He contacted the National Cemetery Administration in Washington, which advised him to submit a proposal in writing.
Eventually, the agency incorporated his ideas into national guidelines for the volunteer maintenance of veteran and military gravestones.
“The graves just sit out there covered in nastiness,” Zipperer said.
“I’ve had to get out hedge clippers and cut bushes to reach a veteran’s grave enveloped in vegetation.
“You‘ll cut it all back, and you’ll clean it all up, and then you'll scrub the headstone and get it clean.”
The NCA, part of the Department of Veterans Affairs, estimates that it has supplied more than 15 million headstones to national, state, and private cemeteries nationwide since 1973.
In fiscal year 2022, the agency provided 347,361 headstones and markers for military personnel buried in the nation’s cemeteries.
The VA operates 156 national cemeteries and 35 soldiers’ lots and monument sites across 42 states and Puerto Rico.
Members of the 3rd U.S. Infantry Regiment place flags at the headstones of U.S. military personnel buried at Arlington National Cemetery, in preparation for Memorial Day in Arlington, Va., on May 22, 2025. Nearly 1,500 service members entered the cemetery at pre-dawn hours to begin the process of placing a flag in front of approximately 260,000 headstones. Andrew Harnik/Getty Images
More than 4 million Americans, including military personnel from every war and conflict, are interred in VA national cemeteries. Approximately 84 percent of veterans are in private cemeteries throughout the country, according to the American Association of Retired Persons.
Zipperer believes the deteriorating condition of veteran headstones signifies a “lack of caring” and funding.
Through his website, veterangraves.com, he hopes to recruit more volunteers and financial support for his cause.
“The problem is we don’t have the [public] funding,” Zipperer said. “Nobody creates funding for veterans’ headstones. I’m doing what I can do, but I don’t have an unlimited budget.
“Every state should be contributing to this. Every American should be contributing to this cause.”
Zipperer estimates he’s spent more than $500,000 out of pocket to promote his mission on YouTube.
“There are people in Australia who love their veterans as much as Americans love their veterans,” he said.
Before and after images of a bronze veteran grave plaque. Courtesy of Tom Pawlak
“I’m just broadcasting it out there to whoever receives the message.”
Pawlak said he also had to use his own funds to support Mission Restore Bronze Markers.
“I just dedicated myself to doing it,” he said.
Celebrity Appeal
In 2021, before Memorial Day, Zipperer appeared on the ABC syndicated talk show “Live With Kelly and Ryan” to present his case.
The response was nothing like he had anticipated.
“I’m naive, I thought this was going to be it,” he said. “Tom Hanks was going to reach out to me. Clint Eastwood was going to reach out to me. Gary Sinise was going to reach out to me. Steven Spielberg was going to reach out to me.”
Patriotic celebrities, one and all, he said.
“And they would provide the help I needed to make this vision a reality. I thought all the senators and governors were going to call. My phone was going to blow up,” he said.
“Do you know how many people called?”
No one, he said, except for a nice woman in New Jersey, who saw him on television.
“We love our veterans in our county,” the woman said to him over the phone. “We’re going to take up your cause here.”
She asked if Zipperer would attend the county’s Memorial Day celebration, and he agreed.
An American flag at sunset in Springerville, Ariz., on May 25, 2025. Allan Stein/The Epoch Times
Zipperer was struck by the community turnout in Hunterdon County that day.
He finally grasped the true purpose of this mission.
“This is an American cause,” Zipperer said. “We can make this happen.”
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Site: Zero HedgeAmazonian Tribe Sues New York Times, TMZ, For Defamation Alleging They Were Framed As "Addicted To Porn"Tyler Durden Mon, 05/26/2025 - 21:40
Here's one you don't see every day.
The Marubo Tribe of Brazil’s Amazon has filed a defamation lawsuit in Los Angeles against The New York Times, alleging its coverage of the tribe’s first internet access portrayed them as tech-addicted and obsessed with pornography, according to the New York Post.
The suit, seeking hundreds of millions in damages, also names TMZ and Yahoo for amplifying and sensationalizing the story.
The article “portrayed the Marubo people as a community unable to handle basic exposure to the internet, highlighting allegations that their youth had become consumed by pornography.”
The suit continues: “These statements were not only inflammatory but conveyed to the average reader that the Marubo people had descended into moral and social decline as a direct result of internet access. Such portrayals go far beyond cultural commentary; they directly attack the character, morality, and social standing of an entire people, suggesting they lack the discipline or values to function in the modern world.”
The Times responded to AP saying: “Any fair reading of this piece shows a sensitive and nuanced exploration of the benefits and complications of new technology in a remote Indigenous village with a proud history and preserved culture. We intend to vigorously defend against the lawsuit.”
In his original piece, NYT reporter Jack Nicas wrote the tribe was experiencing challenges familiar worldwide: “teenagers glued to phones; group chats full of gossip; addictive social networks; online strangers; violent video games; scams; misinformation; and minors watching pornography.” He added a tribal leader “is most unsettled by the pornography,” noting young men were sharing explicit videos despite cultural norms that “frown on kissing in public.”
The Post report says that TMZ amplified this angle, publishing a video titled “Elon Musk’s Starlink Hookup Leaves A Remote Tribe Addicted To Porn,” which the lawsuit says “falsely framed the Marubo Tribe as having descended into moral collapse.”
In response, the Times published a follow-up stating, “The Marubo people are not addicted to pornography,” and that the article didn’t suggest otherwise. But the tribe says the follow-up “failed to acknowledge the role the NYT itself played in fueling the defamatory narrative.”
The lawsuit also disputes Nicas’s reporting, claiming he stayed less than 48 hours, not the full week he said. Plaintiffs include community leader Enoque Marubo and journalist Flora Dutra, who helped bring internet access to the tribe and say TMZ's coverage created the “unmistakable impression” they had introduced harmful content.
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Site: Zero HedgeTeaching Or Treason? U.S. Alleges Fed Economist Spied For BeijingTyler Durden Mon, 05/26/2025 - 20:30
In May 2013, John Rogers, a longtime Federal Reserve economist, was in Shanghai for an academic forum when he received an email that would eventually alter the course of his life and career.
The message was from someone claiming to be a Chinese graduate student. Rogers says he declined an offer of payment but kept in touch, later accepting an all-expenses-paid invitation to return to China. That visit, U.S. prosecutors allege, marked the beginning of a yearslong effort by Chinese intelligence to extract sensitive information from inside one of the most important economic institutions in the United States.
John Rogers
In January of this year, Rogers was arrested by the FBI on federal charges of economic espionage, the Wall Street Journal reports. He is accused of conspiring with Chinese operatives posing as students, handing over internal Federal Reserve materials in hotel rooms in China, and accepting travel accommodations arranged by his handlers. Authorities said they found $50,000 in cash at his Washington-area apartment, which his wife claimed as hers.
Rogers, who left the Fed in 2021, has denied all charges, maintaining that he never knowingly assisted a foreign government. His attorney argues that the indictment is misleading and lacks critical context. “The indictment presents an overly-simplistic, one-sided, and skewed version of events,” the lawyer said, adding that the defense team would mount a full rebuttal in court.
The case is one of the most detailed yet in exposing Beijing’s efforts to cultivate informants within U.S. institutions not traditionally seen as espionage targets, such as the Federal Reserve. American officials say China has broadened its intelligence gathering under President Xi Jinping, targeting not just defense contractors and tech companies, but also government economists and financial policymakers.
A 2022 Senate committee report alleged a coordinated campaign by China dating back at least to 2013 to gain insight into the Fed’s internal operations and decision-making. In one incident cited by the report, Chinese authorities allegedly detained a Fed employee in a hotel and threatened to jail him unless he shared economic data. The Chinese Foreign Ministry at the time dismissed the allegations as “political disinformation.”
In response to the report, Fed Chair Jerome Powell defended the central bank’s security policies, noting that staff travel and contacts with foreign nationals are subject to strict review. The Fed tightened its rules further in 2021, banning staff from accepting gifts or compensation from individuals or organizations in countries under U.S. export controls, including China.
Rogers’s academic and personal ties to China deepened over the years. He earned a Ph.D. in economics from the University of Virginia and joined the Fed in 1994, later becoming a senior adviser researching currency and interest-rate issues. Though he held an impressive title, people familiar with his role said he had limited access to high-level Fed deliberations and did not attend Federal Open Market Committee meetings.
Still, his resume and position appeared to make him an attractive target. In 2017, Rogers returned to China after accepting an invitation from the same “graduate student” who first contacted him. According to an indictment unsealed earlier this year, Rogers asked that his travel and lodging be covered, which the individual agreed to.
That same year, Rogers began an online relationship with Liu Yu, a 31-year-old makeup artist from Shanghai, whom he met through a Chinese matchmaking service called Sky Love. After months of exchanging messages, Rogers arranged to meet her in person during a stop in Shanghai. They spent two days sightseeing, exchanging gifts, and sharing a hot-pot dinner, according to Sky Love, which later publicized the relationship as one of its success stories. The couple married in Hong Kong in March 2018, and Liu gave birth to their daughter later that year in Shanghai.
During this period, Rogers exchanged information with his Chinese contacts, including internal Fed materials and research reports. In one 2018 text message to a handler, he cautioned: “There has to be a lot more done to make this legitimate in the eyes of the Fed. Remember, it has to be teaching and not consulting. I am only allowed to teach.” Rogers added, “That would cause me a lot of trouble!” if the nature of the relationship were questioned.
His attorneys argue that these messages show Rogers’s intent to operate within Fed rules, not to conspire with foreign agents. In court filings, they described the exchanges as part of a teacher-student dynamic.
By the end of 2018, Rogers had taken a sabbatical and was working as a visiting professor at Shanghai’s Fudan University. He allegedly continued to supply notes to his Chinese contacts, including materials prepared for a Fed official awaiting Senate confirmation.
In 2020, Fed officials began raising concerns about Rogers’s foreign connections. In an interview with the Office of Inspector General, Rogers downplayed any wrongdoing but admitted: “They’d come out with packets of hundred-dollar bills.” He denied sharing classified materials, but prosecutors later charged him with making false statements in that interview.
He lost access to most Fed resources soon after and was formally forced out in 2021. Months before leaving, he signed a teaching contract with Fudan offering roughly $150,000 for one semester per year. He also secured a $300,000 research grant from a Chinese government-affiliated institution.
Even after his departure from the Fed, Rogers continued receiving messages from his Chinese contacts. In 2022, one invited him and his wife to Qingdao for another paid engagement, writing, “All related expenses will be covered by us, and we can pay for the class.” It remains unclear if Rogers accepted the invitation.
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Site: Zero HedgeAbout The So-Called Trump-Ramaphosa 'Ambush'Tyler Durden Mon, 05/26/2025 - 19:55
Authored by Victor Davis Hanson,
Nothing highlights the poverty of the media-Democratic mind than its weary use of echo-chamber buzzwords.
Once Pravda-like instructions are sent out from DNC operatives, mindless media anchors mouth them in lockstep as gospel.
So, it was with the supposed “ambush” when South African President Cyril Ramaphosa met Donald Trump. Trump indeed pressed his guest on a number of issues, from the decades-long targeted killing of white agriculturalists on their farms by black hit teams that have totaled somewhere between 1,500 and 3,500, depending on how one defines such targeted killings.
Trump further wanted an explanation from Ramaphosa on his government’s new legislation aimed at land confiscation without compensation, and the de facto vanishing number of Boer farmers.
Trump was further bewildered by Ramaphosa’s assertion that the new law would not be used to take private property without paying for it (“No, no, no, no. Nobody can take land”), when in fact that was the very purpose of the new legislation in the first place.
Trump also showed Ramaphosa videos highlighting a resurgence of South African extremism of the tired “Kill the Boer” sort.
The dictionaries define “ambush” roughly as “a surprise attack by people lying in wait in a hidden or concealed position.”
Ramaphosa’s visit was no surprise. He, not Trump, requested it. Ramaphosa spoke openly to the media before the meeting that he was planning to convince Trump that there were neither widespread killings of white farmers nor arbitrary confiscation of land.
In sum, Trump was the host; Ramaphosa was the guest, who requested the meeting to present his case for a return of a number of concessions from the U.S. He knew Trump would raise issues that had estranged South Africa from both the president and Congress, and he was calmly prepped, as expected, to offer counterarguments.
But why was Ramaphosa so eager for a meeting?
He knew that South Africa had enjoyed a rare, sweetheart, one-of-a-kind, no-tariff deal from the U.S. that had empowered his nation in the last few years to vastly expand its exports. In 2024, South Africa achieved a staggering near $9 billion surplus with the U.S.
Yet Ramaphosa and South Africa have a funny way of expressing gratitude for the free trade magnanimity accorded by the U.S.—especially both as a recipient of nearly $500 million in annual foreign aid and after raising asymmetrical high tariffs on lots of U.S. imports.
Recently, the South African ambassador to the U.S., Ebrahim Rasool, was expelled after he gratuitously slandered his host, the president, as a white “supremacist”—supposedly playing on “white victimhood as a dog whistle” out of fears of non-white demographics.
Like most globalist diplomats and intellectuals, Rasool had forged long ties with the American left and was accustomed to cheap, virtue-signaling trashing of the U.S. to his sympathetic progressive audiences.
Most in South Africa supported the expelled diplomat’s allegations and smearing of his host president, as he returned home a hero rather than an embarrassment.
South Africa still trades on Nelson Mandela’s conciliation policies abroad, even as it has largely rejected his principles and insidiously transmogrified into an illiberal, violent, and racialist state.
In a characteristic fit of schizophrenic hypocrisy, the supposedly “ambushed” President Ramaphosa recently called the few South African white farmer families “cowards” who dared to consider fleeing his government-institutionalized harassment to resettle in the U.S.
I suppose he meant that they were to play the odds and hope they were not among the 60 to 70 farmers murdered each year for their race, and the hundreds assaulted. Or perhaps they were to take solace from the American left that such stuff happens because South Africa is one of the most violent places on earth, where thousands of blacks are murdered each year—though by other blacks and not for their race.
Why, then, the anger at seeing a handful of farmers leaving? And why would Ramaphosa want any largesse from an administration his own ambassador condemned as racist?
On the one hand, most South African politicians would like nothing better than to see the final riddance of the vestigial seven percent of the population.
But on the other hand, the lesson of Zimbabwe’s expulsions reminds them that such mass flight might well collapse the entire South African agricultural sector, if not the economy in general.
That same incoherence characterized Ramaphosa’s relationship with Elon Musk and his Starlink global internet system. He desperately wants Musk to do for South Africa what he has done for lots of countries, including Ukraine—ensuring high-speed internet at a cut-rate cost to remote areas.
But in contrast, his government uniquely insists that Musk essentially turn over about a third of any South African franchise to black South African partners. Ramaphosa will back down because he wants good Internet more than reminding the world that investors in South Africa must follow its racialist laws of partnership. Nonetheless, Ramaphosa has developed a bad habit of cultivating foreign magnanimity, but in a fashion that is ultimately insulting, often racist, and full of ingratitude.
In other areas, South Africa has sided with Russia in the Ukraine War—an embarrassing fact rarely mentioned by the adoring left.
Indeed, it has facilitated arms transfers between Russia and North Korea, as well as opposed U.N. sanctions on Russia.
South Africa is one of the most anti-Israeli, if not anti-Semitic, nations in the world, and supported the International Criminal Court’s issuance of arrest warrants for Israeli Prime Minister Benjamin Netanyahu. It usually votes at the UN in lockstep opposition to the U.S.
Of course, all that business is South Africa’s own.
But it should not expect most-favored-nation trade status and generous aid from a government its chief diplomat has smeared.
Nor should Ramaphosa have counted on an ebullient White House welcome when he and his predecessors have opposed U.S. policy on almost every international issue. (The media was excited before the meeting that far from being an ambush, Ramaphosa was going to confront Trump and set him straight.)
Indeed, South Africa has aligned itself on most key fault lines with dictatorial China and Russia—without a word of worry about the plight of the Uighurs.
The American Left and the media have blasted Trump, claiming there is no effort to kill white farmers in South Africa.
They claim the “Kill the Boer” mantras belong to a long-ago age of legitimate resistance to apartheid.
Not true.
In fact, Julius Malema, the leader of the “Economic Freedom Fighters,” the third largest party in South Africa, led a huge stadium crowd recently in 2023 in the “Kill the Boer, Kill the farmer” chants. And he added, “The revolution in South Africa is guaranteed.”
Malema is no aberration.
The South African “Equality Court” in 2022 ruled that “Kill the Boer, Kill the Farmer” was not “hate speech.”
If calling for the mass death of an entire minority group is not hate speech in South Africa, then one wonders what possibly could be hate speech in that nation?
Trump hardly needed more evidence that by any traditional measure, South Africa is an ungracious, illiberal “democracy” that relies on U.S. largesse while opposing every element of its foreign policy.
That is why Trump stripped away America’s singular no-tariff policy and slapped a 30 percent tariff on South Africa’s exports to reduce the U.S. trade deficit with Pretoria. The state department will likely not be so ready to issue carte blanche travel, green card, or student visas to South Africans unless applicants can demonstrate credible fear of systemic, institutionalized violence.
Again, there was little animus in Trump’s meeting, and no “ambush” at all. Like the denouement of the so-called Zelensky “ambush,” Ramaphosa will likely be back, realizing that he, not Trump, is the president in need.
The end of the session was more or less a visually aided wake-up call to South Africa. In the future, President Ramaphosa might be wiser to look for Belt and Road help among his apparent true friends and allies. Russia and South Africa are similarly aligned on the Ukraine War, friendship with China, North Korea, and Iran, and share a like-minded common hatred of Israel.
Trump is simply reminding the world that the long-ago optimism of a new Mandela South Africa has long vanished. And U.S. foreign policy needs to readjust to the alterations that South Africa, not the U.S., had previously made to our relationship.
Ramaphosa apparently thinks, like the thousands of South African residents in the U.S., that the adoring, institutionalized, left-wing administrative state, media, universities, and foundations still run the U.S. But at least for the foreseeable future, they do not.
As a result, Trump is wishing South Africa well, not as an enemy, but simply as no longer truly a friend, given its undeniable serial and passive-aggressive hostility.
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Site: Zero HedgeUncertainty: Wall Street vs Main StreetTyler Durden Mon, 05/26/2025 - 19:20
By Peter Tchir of Academy Securities
Memorial Day
We hope you are all enjoying the Memorial Day long weekend! We could all use a nice long weekend after the past few months, which have been quite intense on the news, policy, geopolitical, and market fronts. Today is meant to honor members of the military who were killed in service. I am thankful for all that the military does, and have been incredibly lucky to be part of the growth of Academy Securities, which continues to grow our capital, increase the size and scope of the Geopolitical Intelligence Group, and, most importantly, is continuing to hire veterans.
To allow you to more fully enjoy your Memorial Day, and because, quite frankly, it is difficult to think of something new to add, we will keep today’s T-Report short and hopefully sweet.
While somewhat squeamish about Thursday’s shift to recommending Start Adding Duration, we will stick to that for now (but are closely watching foreign bond yields and the dollar, as we think we need some support there for U.S. yields to move much lower).
Uncertainty – Main Street vs. Wall Street
It was less than 2 months ago that markets were “bracing” for Main Street over Wall Street. Basically, policies that would be good for Main Street would be followed, even if they hurt Wall Street.
At the time, we argued that Main Street and Wall Street were more closely aligned than that simple message implied. There are differences, and we could certainly see (or see again) things that could hurt margins and therefore stocks, while helping people with jobs and taxes, but overall, the two are probably going to have to move in the same direction.
Wall Street seems less uncertain:
- VIX is slightly elevated at 20. Elevated yes, but with a high degree of uncertainty, no.
- Friday’s tariffs posts from the President regarding iPhones and the EU moved markets a little (yes, I think we can call 1% “a little” in this trading environment). But markets didn’t panic, and we saw buying throughout the day, because guess what? A few weeks ago, the President seemed happy with Tim Cook and just ahead of negotiations in Geneva with China, the President put out on Truth Social that “80%” seemed right – and we came back with 30%. Lo and behold (surprising absolutely no one) the EU tariffs have been put back on delay (to the July 9th date that was the original date of the April 9th 90-day pause). Stock futures are now slightly higher than where they closed Thursday night (before that recent set of posts that markets have learned, correctly (for now) to largely ignore).
- Putin. Peace? Sanctions? Markets seem nonplussed to the headlines. New sanctions would likely be bad for markets (similarly, if new sanctions are imposed on Iran), but markets seem to have very little concern about that risk.
- The CNN Fear and Greed Index is back to a reading of Greed. Personally, I don’t think this index has kept up with the times, as so many new tools for investors have been developed, but it is a proxy of something and does indicate that markets have become relatively docile again.
- It would be remiss not to point out that TQQQ (3x leveraged QQQ) continues to see outflows, and retail has been timing this market pretty darn well. This works against the narrative about Wall Street becoming less uncertain, but it is what it is.
What was the point of all that?
The point, I think, is that while Wall Street is less uncertain (or less concerned about uncertainty), Main Street seems VERY Uncertain.
Anecdotally, most things we are hearing fit the narrative that Main Street (call it, Corporate America of all shapes and sizes) is highly uncertain and is struggling with the uncertainty. The degree of the struggle varies, from minimal to severe (small companies dependent on China form the bulk of the latter). Make no mistake, there are pockets of the economy that are humming along. Some companies stand to benefit, even benefit greatly, from Budget 2026, deregulation, and spending linked to improving national security through national production.
But the vast majority of what we hear is uncertainty. The difficulty is figuring out when, where, or if that uncertainty will hit the economic data.
The difficulty with finding evidence that this higher uncertainty on “Main Street” will actually impact the economy stems from several issues:
- The initial ramp up in orders to get ahead of the tariffs, and then the renewed effort to take advantage of the pauses in case the pauses turn out to be temporary. Amidst the backdrop of uncertainty has been the need to stockpile resources, making the economy potentially look stronger than it is.
- Contracts and commitments don’t change quickly. If you entered into a contract when everything seemed geared towards growth (and we are hopeful the administration is pivoting back to that, rather than starting to double back down on tariffs), you are committed to that. It is only as contracts get renewed, or decisions for new projects get made, that uncertainty would start to show up. It might be early for that, hence little evidence of actually slower spending, despite the message of caution.
- Supply chain problems and tariff-linked inflation. Can you see that? Maybe if you squint really hard (seeing some people point to a turn in Truflation data, that I need to explore more). Here again we have two issues with timing:
- Given the inventory ordered to prepare for tariffs, we wouldn’t expect to see much until June/July (which are approaching). All of the “temporary” reductions will likely have pushed risks of “unstocked shelves” further down the road. Which may mean that the issue will never materialize, but also makes it easy to ignore the risk.
- Increased pricing tends not to get implemented overnight. There will be some absorption of the tariffs. First step is to get the exporter to cut a deal. Then the importer will likely “eat” some of the cost. Even what they decide to pass on will take some time, as many prices have been contractually agreed upon, forcing it to take time before we see it in the system. Also, it seems like it would be wise not to draw the President’s ire by ratcheting up prices, so you would slow play it.
We will be spending the better part of this week trying to figure out where we might identify early warning signs that Wall Street’s lack of concern is unwarranted and Main Street’s concerns will impact the data, the economy, and then markets.
Bottom Line
Wall Street seems less concerned than Main Street, but much of the data doesn’t support the anecdotal evidence that Main Street is concerned.
That is the conundrum.
- Is Main Street even concerned, or do we face a time where “talk is cheap” and it is easier to talk about uncertainty than it is to change behavior?
- Even if Main Street is concerned, have they done enough to bide their time, and as policy shifts towards pro-growth, the concerns will reverse course?
- Or have we already set in motion, with even 10% tariffs, a chain of events that will lead to a slower economy and higher prices in the short-term? This is probably my base case, but other cases are certainly plausible.
The more the administration focuses on growth, deregulation, and national production for national security, the better. Late last week, there were indications that we might be getting away from that. Minor indications, that have been assuaged by the extension, but we might all need to be thinking that while peak tariff uncertainty (danger) is behind us, we may also be past peak “dealz” optimism.
Finally, what I think is more likely is that as we digest the uncertainty going forward and the certainty of what has already been done, we should brace for a change in the economic winds again.
In no way, shape, or form do I see the current trajectory leading to Depression or even Deep Recession (unlike the pre-delay, no budget in sight policies) but that doesn’t mean markets haven’t gotten ahead of themselves (both equities and bonds).
The worst of the volatility and price action is almost certainly behind us, but that doesn’t mean the market won’t over-reach and it seems like currently there is a risk that Wall Street is ignoring Main Street’s uncertainty.
As we do some data dives this week trying to figure out what the “steady” state of the economy is likely to look like by the end of the summer (assuming we are roughly on the current policy glidepath), we will share that.
There is a chance the data dive makes us more optimistic about current market levels, but my sense is that in digging deeper, we will highlight some impacts that the market isn’t pricing in.
Enjoy the weekend and hopefully we all have an enjoyable and productive summer!
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Site: Fr. Z's BlogThis warm sunny day, the sun rose to make it so at 5:38. Cooling will commence in earnest at 20:37. The Ave Maria bell is in the 21:00 cycle. It is the feast of St. Philip Neri, my great friend … Read More →
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Site: Zero HedgeThe Democratic Party's Death Spiral Is Even Worse Than We ThoughtTyler Durden Mon, 05/26/2025 - 18:45
Authored by Matt Margolis via PJMedia.com,
Make no mistake about it: The Democratic Party is facing an existential crisis that even their media allies can't spin anymore. The New York Times, the crown jewel of the liberal media establishment, just published a devastating analysis showing how the Democrats' supposed stronghold on American politics has crumbled under the MAGA movement.
While Democrats continue their tired routine of Trump-bashing and pretending to care about working Americans, the numbers tell a completely different story. The Times' analysis reveals a political earthquake that's reshaping the electoral landscape, and it's not in the Democrats' favor.
“All told, Mr. Trump has increased the Republican Party's share of the presidential vote in each election he's been on the ballot in close to half the counties in America — 1,433 in all,” the paper writes.
“It is a staggering political achievement, especially considering that Mr. Trump was defeated in the second of those three races, in 2020. By contrast, Democrats have steadily expanded their vote share in those three elections in only 57 of the nation’s 3,100-plus counties.”
In the 2024 election, six times as many counties shifted toward the GOP as toward the Democrats.
While 435 counties trended more Democratic compared to 2012, 2,678 moved more Republican—by an even larger average margin of 13.3 points versus 8.8 for Democrats.
That's not just a loss; that's a political bloodbath.
The Democrats' problem?
They're increasingly becoming the party of coastal elites and college-educated snobs.
Meanwhile, Trump has built an unstoppable coalition that includes working-class voters across all racial and ethnic backgrounds.
The New York Times didn’t sugarcoat the situation for the Democrats.
Counties that have become steadily more Republican exist in some of the country’s bluest strongholds, including New York City, Philadelphia and Honolulu. Mr. Trump’s party is still losing in those places, but by significantly less. At the same time, Mr. Trump has driven Republican margins to dizzying new heights in the nation’s reddest bastions.
In New York, 43 out of 62 counties shifted at least 10 points more Republican in 2024 compared to 2012, cutting the statewide Democratic margin in half. The only county to consistently trend Democratic was ultra-progressive Tompkins County, home to Ithaca. Meanwhile, even deep-blue and diverse areas like the Bronx, Queens, and Brooklyn have trended Republican in multiple elections, alongside rural upstate counties like St. Lawrence and Lewis.
“We could be entering a world where the greatest predictor of voting behavior is no longer race,” Rep. Ritchie Torres (D-N.Y.) told the New York Times.
“Donald Trump’s greatest achievement — his greatest electoral achievement — lies not in breaking the blue wall in the industrial Midwest, but in beginning to break the blue walls in states like New York, and in counties like the Bronx.”
The Democrats' old playbook is dead, and they know it.
Their own pollster Ben Tulchin admitted "the math doesn't work" anymore.
While they're stuck pandering to wealthy urbanites and pushing radical policies that normal Americans reject, Trump's MAGA coalition keeps growing stronger.
The only thing that could derail this momentum is if Republicans get complacent or drop the ball.
I hope they don’t.
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Site: non veni pacem
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Site: Zero HedgeNo MAHA Without The Heartland: Trump Must Forge Strong Ties With FarmersTyler Durden Mon, 05/26/2025 - 18:10
The MAHA Report, released last week, focuses on deliverables that actually fall within the executive's constitutionally limited scope of authority. Where some have argued that increased federal authority is justified to "Make America Healthy Again," the report outlines the ease of corporate capture when control becomes centralized.
Instead, the administration is going all-in on partnering with America's farmers and ranchers. "We Can Not Succeed in This Movement Without the Partnership of the American Farmer, "said RFK Jr during the MAHA Report presser.
We recognize that we cannot succeed in this movement without the partnership of the American farmer. The partnership between @HHSGov and @SecRollins @USDA is crucial to Make America Healthy Again. pic.twitter.com/f1JDDOJQRY
— Secretary Kennedy (@SecKennedy) May 23, 2025With consensus being rare within the agricultural industry, ZeroHedge set about finding what a farmer-focused partnership might look like to MAHA Ag leaders. Surprisingly, we found consensus on key issues ranging from regulatory reform to mission realignment and consumer choice.
Judith McGeary, the Executive Director of the Farm and Ranch Freedom Alliance (FARFA), tells ZeroHedge that a partnership with America's farmers looks like regulatory reforms first.
"We need an overhaul of government programs -- not simply eliminating regulations, but a careful re-crafting of them -- to develop scale-appropriate regulation that fosters fair and open competition in the marketplace for consumers to have real choices and access to healthy food."
McGeary further explains that current regulations, crafted by monopolies, prevent small producers from marketplace access.
"Regulations in almost every area of food -- including meat processing, egg grading, and produce safety -- are designed to be workable for large-scale, chemical and confinement-based producers. And even when small, regenerative producers find a way to manage to comply with the regulations, they are largely either kept out of the markets due to corporate control or undercut by misleading labels and marketing."
Bill Bullard, the CEO of R-CALF USA, shares McGeary's call for regulatory reform.
"We appreciate that this report identifies key problems within our beef supply chain that our government has refused to address, until now," Bullard said. "These problems include undue corporate influence over national dietary guidelines; a revolving door between government regulators and regulated corporations; and the corporatization and consolidation of our cattle and beef market."
Bullard adds that partnering with America's farmers must include the USDA's original mission of antitrust enforcement and restored consumer confidence with a return to Mandatory Country of Origin Labeling (MCOOL) requirements.
"Partnering with us will include an emphasis on antitrust and Packers and Stockyards Act enforcement to curb corporatization and consolidation; an end to the demonization of beef and recognition of its critically important dietary role; reinstatement of MCOOL, as where beef is produced and under whose production standards it was produced is important to ensure safety and wholesomeness," Bullard said, adding that he's hopeful Congress can make headway in the next Farm Bill.
Bullard appeared on Fox Business last week, warning about the ongoing hollowing out of rural communities across America.
For Tennessee rancher and Agricultural attorney, Dustin Kittle, the corporate capture of the Farm Credit Administration (FCA) has hit too close to home. Kittle, who has dedicated his career to saving the family farm, tells ZeroHedge a partnership must include the mission realignment of the FCA.
"The Farm Credit System was originally created to safeguard family farms. It's now funneling half of its $400 billion loan portfolio into mega-loans ($25 million and higher) to the usual suspects of Big Ag," Kittle explains. "In fact, there are Fortune 500 companies who have taken out billion dollar loans, at reduced interest rates, through the U.S. Farm Credit System."
Kittle continues by outlining the impacts.
"If we eliminate the Big Ag mega-loans draining Farm Credit's funding dry, it frees up $200 billion in lending capital; enough capital to provide a $400,000 farm loan to 500,000 family farms; near identical to the same number of farms the USDA found to be in need of financing in a 2023 Report issued by its Economic Research Service."
Cole Bolton, rancher and Senior Vice President of Frontier Bank of Texas, spends his time trying to educate ranchers on proper leverage, debt reduction discipline and how to build a balance sheet to even qualify for lending.
Bolton tells ZeroHedge that regulatory reforms are needed more than ever.
"Now, more than ever, producers need access to liquidity for expansion or just simple stability," Bolton said. "For too long ranchers have been indentured to leverage and the banking regulatory guidelines are making it harder for them to qualify for operating loans."
According to the report Kittle referenced, the United States is losing farms at an alarming rate. Over the last five years, 141,733 farms have disappeared. That's an average of approximately 28,347 farms per year—about 77 farms per hour.
Given that small family farms make up 96-98% of all American farms, it's easy to understand how an industry - that rarely agreed on anything - has been able to find consensus on what partnership looks like.
Time is of the essence. This is why ZeroHedge has launched the first farmer-focused partnership with the Beef Initiative—a rancher-direct think tank. Together, we are committed to leading by example and creating innovative solutions to inject liquidity directly back into the hands that produce our food supply.
As monopoly-guided regulations disproportionately burden small players, and public funds are prioritized for mega-donor reciprocity, we must look to consumer choice and free markets over bigger government.
Simultaneously, MAHA farmers welcome the opportunity to partner and stand united in calls for regulatory reforms and the mission realignment of executive agencies.
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Site: Zero HedgeIran, China Launch New Commercial Railway Bypassing US Sanctions
A new commercial rail route connecting China to Iran has officially launched with the arrival of the first cargo train from the eastern Chinese city of Xian at the Aprin dry port near Tehran.
Aprin's CEO highlighted the port's strategic role in lowering transport costs and reducing reliance on coastal freight hubs.
Image source: IRNA
Railway infrastructure connecting Iran and China allows freight trains to travel from Shanghai to Tehran in 15 days, compared to 30 days via the maritime route.
On May 12, railway officials from Iran, China, Kazakhstan, Uzbekistan, Turkmenistan, and Turkiye met in Tehran to advance a transcontinental rail network linking Asia to Europe, Tasnim News Agency reported on May 25.
The six nations agreed on competitive tariffs and operational standards to streamline regional rail services and boost trade connectivity.
China and Iran have expanded trade and economic relations in recent years, as Tehran seeks to bypass US economic sanctions seeking to strangle its economy and oil exports.
The rail line between the two countries enables Iranian oil exports to China and allows Chinese goods to reach Europe without US naval interference.
In 2018, Iranian Supreme Leader Ali Khamenei stated that Iran should look to the east rather than the west. Since that time, China has become Iran's largest oil purchaser, while Beijing has been able to supply Tehran with virtually all its needed manufactured goods, including electronics such as computers and cell phones.
The following year, Iran joined China's “One Belt One Road” (BRI) initiative – President Xi Jinping's hallmark strategic foreign policy initiative, seeking to recreate the economic ties that existed between ancient China and ancient Persia along the “Silk Road” dating back to the third century BCE.
This ain’t an ordinary freight train.
— S.L. Kanthan (@Kanthan2030) May 26, 2025
It traveled all the way from China, went through 4 other countries, and is finally reaching Iran.
The Ancient Silk Road being reborn!
China and Iran are not afraid of US sanctions.
The focus is trade, connectivity & development.#BRI pic.twitter.com/7SvQDduhswChina and Iran signed a historic 25-year economic cooperation agreement in 2021, reportedly worth $400 billion in trade.
In 2023, China's growing relations with Iran helped it mediate a Saudi–Iranian rapprochement, which led to the resumption of diplomatic relations that had been cut in 2016.
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Site: Catholic ConclaveToday is the anniversary of the death. The Venerable Bede's feast day is celebrated tomorrow."To his fellow-reader Cuthwin, beloved in Christ, Cuthbert, his school-fellow; Health for ever in the Lord. I have received with much pleasure the small present which you sent me, and with much satisfaction read the letters of your devout erudition; wherein I found that masses and holy prayers are Catholic Conclavehttp://www.blogger.com/profile/06227218883606585321noreply@blogger.com0
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Site: Zero HedgeFire Breaks Out At Oregon Data Center Reportedly Leased By XTyler Durden Mon, 05/26/2025 - 17:00
According to local media outlet Oregon Live, a data center in Hillsboro, Oregon, leased by Elon Musk's X, caught fire on Thursday.
"Right about 10:20 this morning our crews got called to a fire involving a battery or batteries," Piseth Pich, a Hillsboro Fire & Rescue spokesperson, told the local outlet on Thursday.
Pich said, "When they arrived they found batteries inside a room inside what we understood to be a data center. The fire itself was contained to the battery set there and hadn't spread anywhere else in that room."
Oregon Live pointed out, "Public records indicate that Digital Realty operates a data center at that site. The social media company X operates a data center in an adjoining facility next door."
Tech blog Wired cited unnamed sources that said X leases space in the Digital Realty complex.
"The incident is under control, and the fire department has concluded its on-site response. All personnel were safely evacuated, with no reported injuries," Digital Realty wrote in a statement, adding, "We continue to monitor the situation, prioritizing the safety of our personnel, the integrity of the facility, and minimizing customer impact."
X did not confirm whether server operations were impacted, and Digital Realty declined to comment on whether X leases space at the facility.
One day later, on Friday, X suffered a brief outage. Then again on Saturday...
X Is Back After Morning Outage https://t.co/cDvEUEZWfh
— zerohedge (@zerohedge) May 24, 2025. . .
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Site: Zero HedgeThe Stealth Bear MarketTyler Durden Mon, 05/26/2025 - 16:25
Authored by Lance Roberts via RealInvestmentAdvice.com,
Is this a “stealth” bear market? Of course, you may be asking yourself what I mean by that.
Historically, bear markets have tended to be pretty evident, as highlighted in the chart below. These bear markets are often more protracted affairs that lead to investors developing profoundly negative sentiment towards markets. This article will use a weekly moving average crossover to identify “corrections” and “bear markets.” While our definition may not “jive” with the mainstream narrative, the reasoning will be evident momentarily.
When the short-term moving average crosses below the long-term, a “sell signal” occurs. That trigger suggests that investors should reduce equity risk in portfolios. When that signal reverses, investors should increase equity risk. Since 1995, the weekly indicator has only given three “false” signals. However, those signals were quickly reversed as the bull market continued, doing little harm to investors’ total returns. The signals warned investors of critical downturns to reduce equity exposure and avoid more significant capital destruction.
The only actual “bear market” over this period was the 2000 “Dot.com crash” and the 2008 “Financial Crisis.” These were the only two declines that broke the previous bullish price trend. Since then, every highlighted drawdown has been a “correction” within the ongoing bullish price trend. Of course, that was a function of the Federal Reserve’s repeated interventions to mitigate any economic and financial instability risk.
In 2000 and 2008, the moving average crossover signal warned investors that a recessionary onset was coming 9 and 12 months ahead of actual recognition. The weekly moving average signals also triggered a sell signal in early 2022 ahead of the ~20% decline, although the NBER did not recognize a recessionary onset. For our purposes, 2022 was a “stealth” bear market. While the major indices did not correct that much, there was a lot of devastation below the surface, hidden by the effects of “passive investing.”
Notably, these signals are not always perfect. The drawdown was so swift in 2020 during the pandemic shutdown that the signals to reduce and increase exposure occurred within two months. However, outside of anomalous events, paying attention to these moving average signals over the longer term can provide investors with a valuable roadmap to follow.
But we will add one more piece of analysis to determine whether we are in a “stealth bear market“ or just a correction.
Risk Ranges & Signal Confirmations
Understanding that the market tends to lead the economy by six months or more, we can use longer-term market signals to help us navigate the risk of a more significant correction driven by a recessionary downturn.
We have produced a weekly “risk range analysis” in the #BullBearReport for several years. That report contains several measures of analysis, as shown below.
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The table compares the relative performance of each sector and market to the S&P 500 index.
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“MA XVER” (Moving Average Crossover) is determined by the short-term weekly moving average crossing positively or negatively with the long-term weekly moving average.
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The risk range is a function of the month-end closing price and the”“bet”” of the sector or market. (Ranges reset on the 1st of each month)
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The table shows the price deviation above and below the weekly moving averages.
For this analysis, we will focus on the far right column. In the above example, November 2021, every primary market and sector (except for the U.S. dollar) was on a bullish moving average crossover. Given this is weekly data, it is slower to move, which tends to provide better signals for both increasing and reducing portfolio risk.
The “Stealth Bear Market” Of 2022
Of course, in mid-January 2022, the market started to struggle, but the outlook for equities remained very bullish. The investor allocation and sentiment index remained at high levels in “greed” territory.
However, the number of markets and sectors on “bearish” moving average crossovers had increased markedly compared to just two months earlier. While that deterioration was increasing, akin to an undetected virus, the overall market appeared healthy.
However, the “stealth bear market” eroded investor capital as the virus spread. Each subsequent decline turned more markets and sectors into bearish sell signals. However, that erosion within the market also indicates when a stealth bear market is near completion. The report below is from the October 6th, 2022, Bull Bear Report:
“The selling pressure continued this week, taking almost every sector and market into double-digit deviations below long-term weekly moving averages. Such extremes are not sustainable, and when all markets and sectors are this oversold, a reflexive rally becomes highly probable.”
The table below shows that almost every sector and market had bearish moving average sell signals triggered. At the time, however, media headlines were filled with “death of the dollar,” recession warnings, and bear market alerts. However, such negative extremes are often coincident with market bottoms.
Of course, as we now know in hindsight, October 2022 marked the bottom of the market, and the recession predictions have faded into the past. While it was not the “great bear market” many had predicted, and the world did not end, even “stealth” bear markets can be painful.
Such seems to be where we are currently.
2025 Walking A Similar Path
Heading into the end of 2024, the market posted its second annual 20% gain since the 2022 correction. Unsurprisingly, virtually every primary market and sector was on weekly bullish buy signals, confirming the bull market trend was intact. However, as noted above, when virtually everything is a “buy,” the question should become, “Who is left to buy?” Such was the point we discussed in early January 2025 in “Curb Your Enthusiasm.”
“With slowing economic growth, fiscal policy uncertainties, global challenges, overconfident sentiment, and ambitious earnings expectations, investors have plenty of reasons to approach the markets carefully. There will be a time to raise significant cash levels. A good portfolio management strategy will ensure exposure decreases and cash levels rise when the selling begins.”
Furthermore, investor sentiment and allocations are also extremely bullish, suggesting that market risk was increasing.
Of course, that overly bullish sentiment and investor allocation mix gave way in late March and early April as President Trump shocked the world with a more aggressive-than-expected tariff plan. That event caused a very sharp reversal of allocations and sentiment, leading to our conclusion on April 6th that there was “Hope In The Fear” for contrarian investors. To wit:
“The weekly “Risk Range Report” details three critical factors investors should know. The first is that the recent market crash has pushed every major market and sector well below normal monthly tolerances. Only during market crash events do you see such uniformity of extremes across all markets. Secondly, the deviations from longer-term moving averages have reached double digits. Such deep deviations across many sectors and markets are also unusual and historically precede bullish reversions to the mean.”
Furthermore, the investor sentiment and allocation measures were at more extreme lows.
“While readings are not as negative as seen during the 2020 correction or 2008 bear market, current readings are at levels that have also previously confirmed near-term market lows and reflexive rallies. When these readings are combined with the technical readings above, investors are provided with a higher degree of confidence versus non-confirmed readings.”
Since then, the market has recovered nicely. However, the question is whether the current “stealth bear market” is over, just as in October 2022.
Corrections Tend To Be Opportunities
Just as we saw in 2022, the promoters of “bearish porn” are seizing the headlines with irrational fears of the “loss of reserve currency status,” the “deficit doom loop,” and the impending “market crash” that will wipe out investors. Such headlines are great for getting clicks and views, but do little to help investors build long-term wealth. Sure, those things can happen, but they won’t happen this year, and most likely not in your lifetime. So it is crucial to focus on the time frame and factors within our control.
Once again, most markets and sectors are on “bearish crossovers.” Does this mean the “stealth bear market” is set to continue? Or was the April low, with profoundly deep negative sentiment, the end of the correction?
Unfortunately, it is too early to know for sure. However, we are watching the longer-term moving averages closely. When more of these indicators reverse from bearish to bullish, the return of a more bullish market will be indicated.
However, risk remains somewhat elevated for the moment, and investors should consider being more conscious of portfolio risk until things become more certain. The one crucial note is that reversing the current bearish signals to bullish is an opportunity for astute investors for longer-term returns.
Revert To Your Process
Given the uncertainty of what potentially happens next, the recent rally is an excellent opportunity to adjust portfolio risks to navigate the next leg of this market cycle.
Step 1) Clean Up Your Portfolio
- Tighten up stop-loss levels to current support levels for each position.
- Hedge portfolios against significant market declines.
- Take profits in positions that have been big winners.
- Sell laggards and losers.
- Raise cash and rebalance portfolios to target weightings.
The next step is to rebalance your portfolio to the allocation that will most likely weather a “cold snap.” In other words, consider what sectors and markets will improve in whatever economic environment you believe we will experience in 2025.
Step 2) Compare Your Portfolio Allocation To The Model Allocation.
- Determine areas requiring new or increased exposure.
- Calculate how many shares to purchase to fill allocation requirements.
- Determine cash requirements to make purchases.
- Re-examine the portfolio to rebalance and raise sufficient cash for requirements.
- Determine entry price levels for each new position.
- Evaluate “stop-loss” levels for each position.
- Establish “sell/profit taking” levels for each position.
Step 3) Have positions ready to execute accordingly, given the proper market set-up. In this case, we are looking for positions that have either a “value” tilt or have pulled back to support and provide a lower-risk entry opportunity.
While market conditions remain uncertain, preparing and adjusting strategies can help investors navigate volatility confidently. As technical indicators flash warning signs, a well-structured risk management approach will protect capital and preserve long-term gains.
Understand that this “stealth bear market” will end. When it does, you want to be able to take advantage of it, not just recover with it.
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Site: Zero HedgeMedvedev Issues Map Showing Putin's 'Buffer Zone' Could Swallow Most Of UkraineTyler Durden Mon, 05/26/2025 - 15:50
If there's a 'good cop, bad cop' routine happening at the Kremlin, mostly assuredly the role of bad cop always falls to Russia's former president, Dmitry Medvedev. In his maximalist and hyperbolic threats, he can be seen as the "John Bolton of the Kremlin". It is most often this top official who warns that Russia could go nuclear if red lines are crossed in Ukraine. But certainly his statements are calculated and approved by the Kremlin.
The current deputy chairman of the country's Security Council has once again issued a hardline threat aimed at Ukraine and its Western backers, warning that President Putin's newly ordered buffer zone in Ukraine could extend over almost the the whole of the country. "If military aid to the Banderite regime continues, the buffer zone could look like this," Medvedev wrote on his Telegram channel on Sunday.
He issued a map of the envisioned zone, covering practically all of Ukraine.
View his automated map below:
Medvedev published a "buffer zone map" - all of Ukraine - if provision of military aid to Ukraine continues.
— Anton Gerashchenko (@Gerashchenko_en) May 25, 2025
Is this the "peace plan" that Russia prepared to show the United States? https://t.co/NWE7XGKkOo pic.twitter.com/2TeCQ30pYRA tiny sliver of what could pass for Ukrainian territory was left along the Polish border. He cited that Western long-range weapons might make this necessary, though Putin has never articulated or affirmed any plan to take over the whole of Ukraine. From a strategic perspective, occupying the whole country would be a nightmare for Moscow forces - on the manpower, economic, logistical, and political blowback fronts.
Still, Medvedev wrote in reference to the reach of NATO-supplied weapons, "In other words, Russia must be present there: 550 km plus another 70 to 100 km just to be safe."
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Site: Zero HedgeThe War On UsTyler Durden Mon, 05/26/2025 - 15:15
Authored by James Howard Kunstler,
“Is the Blue Party really only the customer service desk for the administrative state?”
- Jeff Childers
It’s pretty universally acknowledged that America’s recent wars — say, starting with Vietnam — have been stupid, pointless, and fake in instigation. And yet the soldiers we sent into these fiascos acted bravely and honorably for the most part. So, it has felt a little weird to celebrate their sacrifices minus any sense of political justice, victory, or meaning in the endeavors they sacrificed for. Ergo, the holiday is lately reduced to a celebration of grilled meat.
This Memorial Day, for a change, the USA is not actively at war in some distant land, only against ourselves. One faction in this as yet cold civil war seeks to Make America Great Again (MAGA), and the other side seeks what. . . ? To do the opposite of that? Make America Disintegrate (MAD). It’s hard to come to another conclusion.
MAGA is led, of course, by Mr. Trump, president again after the strangest executive interregnum in our history.
At its plainest, MAGA means returning to an economy based on producing things of value. To many, this might conjure up the image of humming factories, good pay for honest work, and a well-ordered, content, patriotic populace grateful for their prosperity, in other words, something like the America of 1958, when Mr. Trump was entering puberty.
It’s a comforting vision. Parts of it seem possible to achieve. Maybe we can rebuild an industrial infrastructure of up-to-date factories. Didn’t we voluntarily deep-six all the old ones only a few decades ago? And for what reason? So that faraway nations rising out of darkness could make all the stuff we wanted at a fraction of the cost? Turned out to be a bad bargain based on supremely foolish short-term thinking.
It also came with a set of very corrosive financial arrangements based on the US dollar as the world’s reserve currency. These are pretty abstruse, but suffice it to say they enabled us to rack up phenomenal debt that we will never be able to pay off. We even fooled ourselves into thinking that we could replace that old economy of factory production with financial games based on jiggering interest rates and innovating ever more complex swindles. That merely produced a fantastic divide between the financial gamesters raking in billions while the former factory workers were left broke, demoralized, sick, and strung-out on drugs.
As a basic proposition, it’s doubtful that we can return to anything like a 1958 disposition of things based on rising continental-scale enterprise, as in the Big Three automakers and General Foods. It all seemed like a good idea at the time, and the zeitgeist pushed it, but we can see where it landed us: in the ghastly suburban sprawl clusterfuck and the overall ill health of the people. Also the scale of things is done rising; is, in fact, contracting.
And yet we are surely lurching into a new disposition of things, probably featuring a reduced population (disease and infertility induced by the Covid vaccine op), falling energy production (despite the whoop to drill-baby-drill), and much smaller-scaled, re-localized production of goods and food — if we’re lucky. (Events are in the driver’s seat, not personalities, even gigantic ones like Mr. Trump’s.) If we’re not lucky, the disorders of change itself may overwhelm our ability to remain civilized.
The MAD faction is led by the Democratic Party, the party of Hoaxes, Hustles, and Hatred. Being more a religious cult (of envy, grievance, and revenge) than a political faction, this Memorial Day they celebrate their patron saint George Floyd, a fake martyr whose death by fentanyl overdose sparked a summer of looting, arson, and homicide followed by a fraud-saturated election.
The Black Lives Matter operation proved to be hustle, that is, an effort to extract money dishonestly. But it morphed into the even more pervasive DEI op, seeping into every institution of American life and contaminating each of them with incompetence and grift, larded with sanctimony. That’s over now, but what is the MAD Democratic Party left with? It has put itself at the service of the depraved Deep State, the rogue permanent bureaucracy that has developed a malevolent hive-mind dedicated to maintaining its perquisites at all costs. In other words, it is vested solely in power. . . power over the people of this land. . . to dominate, regulate, asset-strip, and punish for the crime of wishing to be civilized.
The MAD party is on the wane now. Its insanity has become so exorbitant that no one of healthy sensibility can bear to be associated with it. Those who remain involved in Democratic Party politics are largely those liable to prosecution for manifold crimes against the country, now using the most unprincipled dregs of the legal system to keep them out of prison. The party will be defeated utterly.
The Deep State it served is getting disassembled systematically by MAGA, deprived of funding, de-staffed, shut down. It has nothing left but lawfare and a claque of judges who will lose their battle with legitimate law and the Constitution. If it attempts to revive its street-fighting proxies this summer, that too will get shut down swiftly and harshly. Lessons will be learned. All of which is to say that the Deep State’s war against the American people could be drawing to a close. That is something to be grateful for this Memorial Day.
MAGA will then be left to battle with the forces of nature, which basically means physics, especially as applied to the mechanisms of money. MAGA could easily founder if it fails to face the current deformities of finance, namely the gross, untenable debt hanging over the country. I’m not so optimistic about how that might work out.
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Site: Henrymakow.comZionism-History of a Jewish Heresy - available here in hard copy or onlineDavid Livingstone has been a contributor to my website since 2007.From the beginning, we've had a difference of style. I am in awe of David's ability to assemble a mind boggling wealth of detail.But I always wished he would just focus on conclusions, like I do. His latest book Zionism: History of a Jewish Heresy, has 703 pages.There are 90 pages of footnotes! With 40 footnotes per page-- that's 3600 footnotes. The man is a prodigy!!There is no way I can read this book from beginning to end nor do I wish to. Instead, I will keep my copy on my head table and dip into it for sordid details of the Masonic Jewish conspiracy against humanity. I present an example below.Sabbatean Frankism and Chabad are the head of the Illuminati snake. They consist of biological half-Jews who hate God.The Illuminati Thule movement gave birth to Hitler to destroy European civilization. Zionists also fundedHitler to force Jews to establish the State of Israel.David Livingstone--"My book shows that the history goes back much further than that, to the very origins of German nationalism, which began Weimar Classicism, the Tugenbund, and the Burschenschaft movement that Herzl belonged to. Both Zionism and Nazism begin with Moses Mendelssohn and the founding of the Frankfurt Judenloge in the early 1800s.From the Judenloge came Reform Judaism from which Zionism emerged, as well as German nationlism and the Occult Revival that produced people like Blavatsky and organizations like the Golden Dawn. My book details how the Frankists were constantly involved in overlapping activities.The most important example was the George Kreis (or George Circle), which included Moeller van der Bruck, who coined the idea of the Third Reich, which was based on Joachim of Fiore, who was a crypto-Jew."(Updated from April 2, 2025)by David Livingstone(henrymakow.com)Interviewed by the Office of Strategic Services (OSS) during World War II, Ernst Hanfstaengl recounted that Hitler had made it known privately that at Pasewalk he had had a "supernatural vision which commanded him to save his unhappy country. After giving his first speech at the Hofbräukeller for the DAP on October 16, 1919--a year after first having heard the "Voice," at Pasewalk--the members the Thule Society were so impressed by the oratorical skills of Hitler--a former male prostitute, and failed artist with barely a secondary-school education--that he was received by them as the "messiah" they had been awaiting.Thule founder Dietrich Eckart (1868 - 1923) had expressed his anticipation of List's prophecy of a "German Messiah" who would save Germany after World War I in a poem he published in 1919, months before he met Hitler for the first time. When he met Hitler, Eckart was convinced that he had encountered the prophesied redeemer. Eckart refers to Hitler as "the Great One," "the Nameless One," "Whom all can sense but no one saw."[1] Ludendorff "trembled with emotion" when he first heard Hitler.[2]Several months after the Nazi seizure of power in 1933, Sebottendorf published a book titled Bevor Hitler kam: Urkundliches aus der Friihzeit der nationalsozialistischen Bewegung ("Before Hitler Came: The early years of the Nazi movement,"), where he detailed how the Thule Society was the organ of the Nazi Party:Thule members were the people to whom Hitler first turned, and who first allied themselves with Hitler. The armament of the coming Führer consisted--besides the Thule Society itself--of the Deutscher Arbeiterverein, founded in the Thule by Brother Karl Harrer at Munich, and the Deutsch-Sozialistische Partei, headed there by Hans Georg Grassinger, whose organ was the Münchener Beobachter, later the Völkischer Beobachter. From these three sources Hitler created the Nationalsozialistische Arbeiterpartei.According to Hitler biographer Ian Kershaw, the Thule's "membership list... reads like a Who's Who of early Nazi sympathizers and leading figures in Munich."[3] In a book also titled Bevor Hitler Kam ("Before Hitler Came"), Dietrich Bronder alleged that members of the Thule Society included Dietrich Eckart, Gottfried Feder, Hans Frank, Hermann Göring, Karl Haushofer, Rudolf Hess, Heinrich Himmler, and Alfred Rosenberg.Bronder also noted that among the anti-Semites there were quite a few of Jewish origin, and concluded, from his own research, that among 4000 men of the Nazi leadership there were 120 foreigners by birth, many with one or two parents of foreign origin and one percent even of Jewish descent. Of Jewish descent or related to Jewish families he listed Thule member Rudolf Hess, Gregor Strasser, Josef Goebbels, Heinrich Himmler, Joachim von Ribbentrop, Franz Hanfstaengl, and Aufbau and Thule members Alfred Rosenberg and Karl Haushofer. According to Bronder, Ribbentrop--a protege of Hanfstaengl--also maintained a close friendship with Chaim Weizmann.[4]Hanfstaengl was intimately associated with Otto Khan and Aleister Crowley's friend and co-conspirator, Hanns Ewers, who worked the secretive Propaganda Kabinett of Max Warburg's associate Dr. Bernhard Dernburg, with George Sylvester Viereck and Harvard professor Hugo Münsterberg.[5] Ewers was also an associate of Guido von List Lanz von Liebenfels.[6] Ewers wrote a screenplay about the Nazi martyr Horst Wessel that was produced by Hanfstaengl.Ludendorff was also friendly with Karl Haushofer (1869 - 1946), whose concept of Geopolitik influenced Hitler's ideological development.[7] Under the Nuremberg Laws, Haushofer's wife and children were categorized as Mischlinge, the German legal term used in Nazi Germany to denote persons deemed to have both "Aryan" and Jewish ancestry. His son, Albrecht, was issued a German Blood Certificate through his protégé Rudolf Hess' help. Albrecht had studied alongside Hess at Munich University. Hess and Albrecht shared an interest in astrology, and Hess also was keen on clairvoyance and the occult.[8]In 1932, Goebbels pamphlet published to refute certain allegations that his grandmother was Jewish.[9] Gregor Strasser, for many years second only to Hitler in the Nazi Party, had asserted that Goebbels was of Jewish ancestry, citing the club foot as proof.[10] After attending the lectures at University of Heidelberg on the German Romantics from his Jewish professor Friedrich Gundolf, a member of the George-Kreis, Goebbels became completely captivated by the works of the Schlegel brothers, of Tieck, Novalis and Schelling.[11] Goebbels sent a letter to Professor Max Freiherr von Waldberg (1858 - 1938), with whom he graduated, reiterating how much he owed to Gundolf.[12] Goebbels's first love, Anka Helhom, often showed her friends a book with his personal inscription on it, the Buch der Lieder, by Heinrich Heine. In the summer of 1922, he began a love affair with Else Janke, a schoolteacher. After she revealed to him that she was half-Jewish, according to Goebbels the "enchantment [was] ruined."[13] Nevertheless, he continued to see her on and off until 1927.[14]A prominent member of the Nazi Party, Goebbels's wife Magda was a close ally, companion and political supporter of Adolf Hitler.When she was eight-years-old, Magda's mother married Jewish businessman and leather-goods magnate Richard Friedländer and moved with him to Brussels in 1908. Friedländer's residency card, found in Berlin archives, stated that Magda was his biological daughter.[15]The family moved to Berlin, where Magda eventually met the Zionist Chaim Arlosoroff (1899 - 1933).During their relationship, she briefly wore a Star of David he had given her and accompanied him to Zionist meetings. Magda continued to carry on the affair, even after she married Dr Günther Quandt, a successful industrialist. By the time she had divorced Quandt, Chaim had had left for Palestine to join the Jewish Agency and work for the establishment of a state of Israel.[16] Magda later married Goebbels in 1931, with Hitler as his best man. Friedländer was later killed in the Buchenwald concentration camp.---
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Site: Zero HedgeIsrael Reportedly Rejects New US Ceasefire Proposal, Citing 'Impossible' Hamas DemandsTyler Durden Mon, 05/26/2025 - 14:40
On Sunday President Trump declared once again that he wants to end the Gaza war "as quickly as possible," stating publicly what he had long previously been saying privately, according to Axios.
Sky News Arabia is among several outlets to cite unnamed sources Sunday into Monday as saying Trump is likely to announce a new big ceasefire deal, which aims to see the rest of the Israeli hostages come home, within the next days.
"We want to see if we can stop that. And Israel, we've been talking to them, and we want to see if we can stop that whole situation as quickly as possible," Trump said to reporters on Air Force One. He then said he hopes he can give the world good news soon.
Via Reuters
But at the moment Israel's government and military seems set on implementing an expanded offensive and occupation of the Gaza Strip. Axios cites the following:
- An IDF official told reporters Sunday that in two months the IDF will occupy 75% of the Strip.
- The official said most of Hamas' military command has been wiped out but its core fighting brigades are still functioning.
The reality also is that tens of thousands of Hamas and Islamic Jihad militants are still operational, utilizing the Strip's vast tunnel network to wage a guerilla-style insurgency.
On Monday, Israeli and other regional media are reporting that Israel is already rejecting Trump's reported plan, citing the "impossible conditions" still being set by Hamas, and the continued threat to Israeli national security and sovereignty.
The Times of Israel writes in a fresh report:
Responding to a Lebanese report that a new outline for a hostage and ceasefire proposal had been agreed upon in principle by Israel, a senior Israeli official said Monday the deal has been rejected.
“The proposal received by Israel cannot be accepted by any responsible government,” the official told the media, without giving any further details.
“Hamas is setting impossible conditions that mean a complete failure to meet the war goals, and an inability to release the hostages,” he said.
Like with the Ukraine war, President Trump has expressed increasing frustration over the Gaza situation. He wants to 'stop the killing' - and yet has continued massive amounts of arms and money flowing to one side of the war (the Israelis of course).
Meanwhile, internal unrest over Netanyahu's commitment to war grows...
Given the gruesome and heart-wrenching images of dead civilians and even children burning to death which continue to come out of the war-ravaged Gaza Strip, the White House could just be responding to international pressure. No deal at this point seems to have any real potential at getting the warring sides to agree. Things continue to slide amid already hellish conditions in Gaza.
Increasingly, conflict is being renewed in the West Bank as well, amid fears of a new intifada which would see the Israelis go to war on several fronts. While Lebanon has been relatively quiet, Israeli warplanes have sporadically renewed attacks on sites in Beirut and south Lebanon.
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Site: Zero HedgeMusk Confirms 'X Money' Beta-Testing Ahead of Planned 2025 LaunchTyler Durden Mon, 05/26/2025 - 14:05
Authored by Helen Partz via CoinTelegraph.com,
X Money, the payment and banking app tipped by Elon Musk in 2022 after he acquired Twitter, has started beta testing, Musk confirmed in an X post on May 25.
Tesla Owners Silicon Valley, a fan X account focused on Elon Musk and Tesla, took to X on May 25 to report that Musk has confirmed that X is “launching X Money soon.”
Source: Elon Musk
The billionaire businessman subsequently jumped on the X thread to confirm the news, writing that the test will be a “very limited access beta at first.”
“When people’s saving are involved, extreme care must be taken,” he wrote.
X Money expects launch in 2025
Musk’s confirmation comes amid X Money’s planned launch this year, according to the platform’s X account.
Source: X Money
Musk’s silent confirmation of X Money trials followed a series of reports suggesting the platform may launch this year based on alleged software code leaks in January.
X has been actively working to obtain multiple transmitter licenses for X Money across the United States, having secured 41 such licenses at time of publication, according to the Nationwide Multi-State Licensing System.
X Money plans date back to 2022
Some of the early public indications of Musk’s plans to integrate payments into X date to October 2022, when Musk referred to his $44 billion Twitter acquisition as “an accelerant to creating X, the everything app.”
In 2023, Twitter rebranded to X, with CEO Linda Yaccarino disclosing that the social media app planned to feature “unlimited interactivity,” support multiple media formats, and feature payments and banking. At the time, many speculated that the platform would likely support cryptocurrencies like Bitcoin.
The payment platform was reportedly expected to be launched in mid-2024.
The platform apparently gathered more steam with US President Donald Trump taking office in January and appointing Musk as the head of the Department of Government Efficiency’s Workforce Optimization Initiative (DOGE).
Heavily involved in administration through DOGE, Musk quickly received pushback from US officials like US Democratic Senator Elizabeth Warren, who criticized X’s payment platform plans in February.
“Musk has lost money hand over fist on X. So he has this idea of X becoming a big money platform where he would get everyone’s personal financial data,” Warren said, referring to Musk’s efforts to dismantle her agency, the Consumer Financial Protection Bureau.
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Site: Zero HedgeRussia Cautions Of 'Emotional Overload' Right Now After Trump Calls Putin 'Absolutely Crazy'Tyler Durden Mon, 05/26/2025 - 13:30
Moscow has responded Monday to President Trump's latest fierce criticism of Russian President Vladimir Putin, cautioning of "emotional overload" at this "very important moment."
"We are really grateful to the Americans and to President Trump personally for their assistance in organizing and launching this negotiation process," began Kremlin spokesman Dmitry Peskov when asked about Trump’s late Sunday remarks.
"Of course, at the same time, this is a very crucial moment, which is associated, of course, with the emotional overload of everyone absolutely and with emotional reactions," Peskov said. Other translations used "emotional overstrain".
There's been a noticeable frustration and impatience coming from the White House at the lack of progress toward peace. At first more of the pressure seemed to be on Zelensky and the Ukrainian side, but recent weeks have seem Trump's rhetoric shift to more pressure on Putin and the Kremlin.
"I’ve always had a very good relationship with Vladimir Putin of Russia, but something has happened to him. He has gone absolutely CRAZY!" Trump wrote on Truth Social on Sunday night.
The below full statement is mainly aimed at Putin, but Trump has notably taken swipes at both sides over the weekend, as pointed out by the WSJ correspondent...
"I’ve always had a very good relationship with Vladimir Putin of Russia, but something has happened to him. He has gone absolutely CRAZY! He is needlessly killing a lot of people, and I’m not just talking about soldiers. Missiles and drones are being shot into Cities in Ukraine, for no reason whatsoever."
Trump blasts CRAZY Putin for killing innocents — and immediately blasts Zelensky for talking in a way he doesn’t like. https://t.co/Cwvs4WBg41 pic.twitter.com/dy47gjnUDs
— Yaroslav Trofimov (@yarotrof) May 26, 2025Earlier on Sunday President Trump had told reporters aboard Air Force One that he is not "happy" with the Russian leader. "I don’t know what the hell happened to Putin," Trump said.
Russia has clearly ramped up attacks over prior consecutive nights. Last night it hit Ukraine with another record number of drones along with nine cruise missiles, according to The Associated Press. However, no deaths were immediately confirmed and an emergency response continued in Monday.
But Trump had caveated in his remarks Sunday, "Likewise, President Zelenskyy is doing his Country no favors by talking the way he does."
We detailed previously how Russia's current stepped-up attacks are the result of drone waves from Ukraine which are unprecedented in size and intensity over the past week:
Trump says Putin has gone crazy and threatens to walk away from Ukraine peace talks. What he ISN'T saying is that the Ukrainians launched a massive drone attack on Russia on May 20 - targeting Putin's helicopter during a visit to Kursk - using US intel. pic.twitter.com/GxlmtYZTF5
— Sharmine Narwani (@snarwani) May 26, 2025All of this is likely calculated to press the Kremlin to get serious about negotiations. But as Trump has long admitted, Putin holds all the cards, and more villages in the Donbass were taken by Russian forces this weekend.
As for what "happened" to Putin... the reality is that nothing has changed, and like it or not this is how powerful world leaders wage war in the 21st century.
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Site: Mises InstituteThere are numerous critics of free markets. However, all of those critics also are consumers and they gladly depend upon free markets to satisfy their needs.
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Site: Mises InstituteThere are numerous critics of free markets. However, all of those critics also are consumers and they gladly depend upon free markets to satisfy their needs.
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Site: Zero HedgeCrime Rates Of Illegal Migrants UnderreportedTyler Durden Mon, 05/26/2025 - 12:55
Authored by John Lott Jr via American Greatness,
Democrats actively oppose the Trump administration’s efforts to arrest and deport illegal immigrants, despite the administration’s focus on those with criminal histories.
To support their opposition, Democrats frequently claim, almost as an article of faith, that illegal immigrants are less prone to commit crime. “The crime rate among immigrants is far lower than the crime rate among native-born Americans,” New York Rep. Jerrold Nadler asserted confidently. “So the whole issue is wrong.”
“Immigrants commit crimes in this country at a rate lower than natural-born citizens,” added Connecticut Sen. Chris Murphy.
“So, if you want a safe town or a safe neighborhood, you are better off if you have immigrants.”
Speaking on the Senate floor last year, Murphy added, “Whether you choose to want to believe the facts or not, that is not my decision, it’s your decision, but…but it is the truth.”
This tenet is incessantly parroted by the legacy news media. Sample headline, this one from ABC News: “No, migrants are not driving a surge in violent crime as Trump claims.” ABC asserted that crime in this country is declining despite an influx of illegal immigrants.
This barrage has achieved its intended goal: A McLaughlin & Associates survey commissioned by the Crime Prevention Research Center on April 29, 2025, reveals that 41.6% of voters believe illegal immigrants commit crimes at lower rates than U.S. citizens, compared to 33.3% who think otherwise.
Like most issues, U.S. public opinion on this question has a demographic and partisan component.
Only men, Republicans, conservatives, whites, and those aged 41 to 55 believe illegal immigrants commit more crimes. +
The majority of young voters (18-29), Democrats, liberals, and African Americans most strongly assert that illegal immigrants commit fewer crimes.
But is this “the truth”? Are these “the facts”?
The data suggests that the answer is pretty clearly “no.”
These claims usually conflate legal and illegal immigrants. Legal immigrants tend to follow the law, but illegal immigrants are a different story.
As to the claim that crime is falling despite a flood of illegals, it depends on whether one looks at just crimes reported to police (the FBI data) or total crime as measured by the Department of Justice’s Bureau of Justice Statistics. Total crime rose markedly in 2021, 2022, and 2023 (the last year it was available). This surge coincided with a massive flood of illegals. The increases shown for total crime during the Biden-Harris administration are by far the largest percentage increases over any other three-year period, more than doubling the previous record.
One big problem is that the government databases are a mess in identifying illegal aliens. You can see this in terms of errors in the NICS background checks that are supposed to stop non-citizens with criminal records from buying guns.
There is more direct data linking illegals to crime. Just last year, the Biden administration admitted that 9% of the so-called “non-detained” illegals who were released into the U.S. had criminal backgrounds (662,566 out of 7.4 million released). The problem is that these were overwhelmingly those who had voluntarily turned themselves in at the border, presumably the ones we should be least concerned about. It doesn’t count the 2 million “gotaways” we detected crossing the border but failed to apprehend during the Biden administration, nor the unknown millions we never saw coming across the borders. All this also depends on us believing that the Biden administration didn’t undercount these criminal backgrounds. And many countries, such as Venezuela, won’t provide information on the criminal backgrounds of their citizens.
Last December, a similar estimate for New York City indicated that about 7% of the illegals living there were criminals.
A prior Maricopa County Attorney’s Office study revealed that illegal immigrants committed 21.8% of felonies sentenced in Maricopa County Superior Court, over twice their proportion of Arizona’s population. Mexican nationals alone accounted for 13% of inmates in the state prison system.
Earlier work that the Crime Prevention Research Center did for the Arizona County Prosecutor’s Association also found that illegals made up a disproportionate share of the Arizona prison population and that legal immigrants were more law-abiding than the general population. Illegal immigrants are at least 142% more likely to be convicted of a crime than other Arizonans. They also tend to commit more serious crimes and serve 10.5% longer sentences, are more likely to be classified as dangerous, and are 45% more likely to be gang members than U.S. citizens.
Critics like the Washington Post cite academic studies asserting illegal immigrants are relatively law-abiding. There are numerous problems with these studies. None of them account for changes in police, arrest, or conviction rates, or imprisonment in explaining crime rates. They look at states like California but ignore the impact of cutting crime rates from laws such as California’s 1994 three-strikes law during the period studied.
They ignore a key issue: Criminals often target those similar to themselves. Illegal immigrants, therefore, are more likely to commit crimes against other illegal immigrants. These crimes often go unreported—for fear of deportation—and as the local population of illegal immigrants grows, underreporting almost certainly increases. While these studies acknowledge that illegal immigrants who are victims hesitate to report crimes, they neglect to adjust their empirical analyses for this factor, particularly when relying on FBI Uniform Crime Reporting data. Notably, the FBI data captures only about 40% of all violent crimes and 30% of all property crimes reported in the National Crime Victimization Survey.
The media’s relentless narrative that illegal immigrants don’t commit crimes has shaped Americans’ perceptions. And these numbers, as bad as they are, likely undercount the number of criminal illegals. Even if some believe undocumented immigrants commit crimes at lower rates, ignoring ICE detainers for convicted undocumented immigrants to prevent their deportation raises doubts about whether they really care about the criminal rate of these illegal immigrants.
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Site: La Salette Journey
"...the American man at arms. My estimate of him was formed on the battlefields many, many years ago, and has never changed. I regarded him then, as I regard him now, as one of the world's noblest figures; not only as one of the finest military characters, but also as one of the most stainless.
His name and fame are the birthright of every American citizen. In his youth and strength, his love and loyalty, he gave all that mortality can give. He needs no eulogy from me, or from any other man. He has written his own history and written it in red on his enemy's breast.But when I think of his patience under adversity, of his courage under fire, and of his modesty in victory, I am filled with an emotion of admiration I cannot put into words. He belongs to history as furnishing one of the greatest examples of successful patriotism. He belongs to posterity as the instructor of future generations in the principles of liberty and freedom. He belongs to the present, to us, by his virtues and by his achievements." - General Douglas MacArthur.
In honor of Arthur Melanson, killed over the Pacific, WWII.
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Site: Ron Paul Institute - Featured Articles
Deal-making is said to be President Trump’s specialty, yet after five rounds of indirect talks with Iran – most recently just days ago – we seem as far away from an agreement as ever. The fifth round ended last Friday with no breakthrough, but at least no breakdown. However, each day that passes without a document signed on the table is another day for the neocons to maneuver the US president toward an attack on Iran.
One way the war party does this is to continuously move the goal posts and change the rules of the game. Trump envoy Steve Witkoff, under great pressure from the neocons, has himself signaled at least three position-shifts: from no enrichment at all, to low-level enrichment for civilian uses, back to no enrichment at all.
The neocons know that Iran will not give up its right to the civilian use of nuclear power and that is why they are applying maximum pressure to force Trump to officially adopt that position. They know if that becomes the US “red line” then they will win and they will get their war.
Israeli Prime Minister Netanyahu, in league with US neocons, has been warning us for 20 years that Iran is “months away” from a nuclear weapon – even though our own Intelligence Community recently re-affirmed that Iran is not working on a nuclear weapon at all.
Of course this is the same Netanyahu who promised Congress in 2002 if the US would just invade Iraq, peace and prosperity would break out in the Middle East. “If you take out Saddam, Saddam’s regime,” he told Congress in March of that year, “I guarantee you that it will have enormous positive reverberations on the region.”
We know how that worked out.
Poll after poll shows that the American people are tired of intervention and tired of Middle East wars. President Trump himself recognized this in his scathing rebuke of neocons and interventionists during a recent speech in Saudi Arabia.
But rebuke in a speech is not enough. President Trump must actively turn away from the neocons – many of whom are prominent in his own administration.
The recent US debacle in Yemen – where billions were wasted, civilians killed, and US military equipment destroyed – is just a taste of what the US would be in for if the neocons get their way and take us to war with Iran.
The Iranian foreign minister laid down in the simplest terms how the impasse could be solved, posting on X that, “Zero nuclear weapons = we DO have a deal; Zero enrichment = we do NOT have a deal.
My own preference is non-intervention and I do not believe Iran has the desire or the ability to militarily harm the United States. I share President Trump’s view that it would be far better to re-establish relations with Iran and begin mutually beneficial trade with the country. But if a mutually acceptable nuclear deal is the best way to take the neocon war with Iran off the table, then a deal is worth supporting.
President Trump should make his position clear to his negotiators: no more waffling or contradictions, get this agreement signed and put one in the “win” column.
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Site: Rorate CaeliNew Catholichttp://www.blogger.com/profile/04118576661605931910noreply@blogger.com
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Site: AsiaNews.itThese refugees meet the criteria for resettlement in third countries and need international protection the most. Expulsions to Taliban-controlled Afghanistan continue; in April alone, more than 300,000 returned from Pakistan and Iran, aggravating a humanitarian crisis already out of control due to extreme poverty. For their part, Kabul, Beijing and Islamabad are building new geopolitical ties.
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Site: AsiaNews.itAfter a five-year hiatus, passenger rail service between Hanoi and Nanning restarted yesterday. The two countries recently announced a new high-speed railway to Haiphong Port, part of joint plans to boost tourism and regional trade.
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Site: PeakProsperityThe long bonds are caving, Japan's bonds are swan-diving, and the ECB warns that physical demand for gold could cause a systemic crisis for its member banks. By which they mean banks' derivative exposures to synthetic gold shenanigans. Tune in with with GoldCore CEO David Russell.
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Site: Euthanasia Prevention CoalitionBy Gordon FriesenPresident, Euthanasia Prevention CoalitionEPC has an online petition, we have post-cards to be sent to members of parliment and we have a traditional paper petition demanding a complete review of Canada's euthanasia law. Contact EPC at: info@epcc.ca for more information.In coming weeks and months, the Euthanasia Prevention Coalition and the Delta Hospice Society will be calling on government's to undertake a complete, and long-promised review of euthanasia (MAiD) in Canada.Link to our EPC petition (Petition Link)
It is our observation that events have unfolded in a completely unexpected and alarming fashion; that current policy has little to do with its originally stated intent; that such policy is in fact leading us on a horrific course that no one consciously chose (or very few) but which is now evolving under its own anti-human economic logic and impetus.
Even we, in the organized resistance to euthanasia, have been taken unawares, while our rhetoric has been roughly overtaken by the facts. To take one key example, it has always been a priority to champion fair treatment of the most vulnerable, in terms of access to needed care and services. For we all immediately understand that legal euthanasia threatens the safety of specific lives. What we did not understand is just how many lives that would be.
Very simply put, the "most vulnerable" narrative assumes that disputed benefits actually exist; that people are generally able to access appropriate services; that only certain groups (defined perhaps by economic, racial, gender, or ability criteria) are not. However, as the situation now exists in Canada, real health care --meaning truly life-affirming care, free of the pressure to accept euthanasia-- is no longer available (in so far as that availability depends upon the State).
Real, good and decent doctors and nurses do exist, of course! And they are clearly among the most influential actors in our Coalition. However, our chances of being treated properly as patients should not be dependant upon the personal moral compass of individual professionals who are now forced to operate as dissidents within a hostile system.
That is not at all how things were intended to be. We have always been taught to expect proper medical care as a right of citizenship. Our universal Canadian system was established some sixty years ago with the precise goal of making such care available to all.
Shockingly, the true calamity we are now experiencing involves nothing less than the cynical replacement of that time-honoured medical ideal, with a radical, euthanasia-based, veterinary-style system of population management.
In this scheme, advanced medical treatment will indeed be provided for those briefly incapacitated persons who may easily be restored to full productive status. But a radically different path is marked out for everyone else, which is to say: for anyone at all whose physical or mental status --for whatever reason-- might cause their expected economic contribution to fall below the cost of their upkeep. In these cases, illness, disability, and even simple aging itself, are now to be collapsed into the smallest social dimension possible, by actively steering all such individuals towards the newly discovered medical "treatment" of euthanasia.
Indeed, the only easy way to escape this trap requires personal resources large enough to privately make up the difference. For our ruling elites there is obviously no difficulty. Simply jump in the plane, and off they go, to state-of-the-art facilities provided by dynamic extra-national organizations dedicated to the satisfaction of every client whim (medical or otherwise) in settings of luxury.
Back in Canada, however, few individuals possess such options. The available earnings of the entire working and middle classes are already fully committed to the spending policies of which medical care is by far the greatest component. For the individual taxpayer, that money cannot be spent twice. No personal budgetary room remains for typical Canadians to pay, out of pocket, for real medical care.
To repeat the essential: service deprivation is now the norm, not the exception. To portray this as a "most vulnerable" issue (wholly, or even primarily) would require the redefinition of "most vulnerable" to include any person whose speedy recovery cannot guarantee prompt return on investment. And in the normal experience of accident and aging (while excluding our rulers) this is a category which includes the entire population.
In short, the problem of euthanasia does not affect only certain persons. It affects every person at certain seasons in their lives. Our common problem is the deliberate promotion of euthanasia by the administrative State. It is the shameless presentation of medical homicide as a legitimate and sufficient solution for any sort of problem. Nor have we seen the worst. We may now expect decision-makers to actually lower care standards on purpose. For if suffering is assumed to have a cure --in euthanasia-- then suffering can no longer be allowed to impede rationalization.
In retrospect, I think it is fair to say that very few people could have suspected that a supposedly limited access to voluntary euthanasia might ever devolve into the scale of industrial destruction, of human life, to which we are now witness. Quite naturally, many people have come to question the "why" and the "how" of such a calamitous outcome.
And that is why we are calling for a complete review of Canada's euthanasia policy.
We demand a full review, as originally promised in law but never delivered: an open and unfiltered scrutiny of current practice, accompanied at each stage by the severe questioning of past decisions made. Everything must be on the table.
We further believe that serious changes must result. For we --by a large majority-- want real medical care.Link to our letter to federal and provincial parliaments (Link to letter). -
Site: Catholic ConclaveVincenzo Paglia: “Indignant at the world in ruins. We need global bioethics”The outgoing President of the Pontifical Academy for Life: “I am 80 years old, my mandate ends here. From artificial intelligence to medicine, knowledge collaborates for a sustainable development of humanity”“I have just returned from Argentina, from an international conference at the Catholic University of Buenos Aires Catholic Conclavehttp://www.blogger.com/profile/06227218883606585321noreply@blogger.com0
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Site: Fr. Z's BlogThis time of year many new priests are being ordained and, consequently, many priests observe their own anniversaries. In the traditional, Vetus Ordo of the Roman Rite a priest can add orations “for himself… Pro seipso sacerdote“, on the anniversary … Read More →
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Site: AsiaNews.itA Yanadi tribal family forced into bonded labour at a duck farm. The mother, desperate for news of her nine-year-old son held as "collateral", was fed a string of lies by the employer. Bishop Thakur of the Indian Bishops' Commission for Migrants: "Slavery, though officially illegal, remains a deep stain on the conscience of a country that presents itself as an economic powerhouse".
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Site: Mises InstituteThanks to the endless “War Against Terror,” the US Government promoted methods of torture. Congress stood by and let it happen.
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Site: Mises InstituteThanks to the endless “War Against Terror,” the US Government promoted methods of torture, including some borrowed from the sadistic torturers of the former Soviet Union. Congress stood by and let it happen.
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Site: Steyn OnlineA special Memorial Day edition on battle, sacrifice and remembrance - from the Civil War to the Great War to the unwon wars of our own time...
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Site: AsiaNews.itWomen who acquired nationality through marriage particularly affected. Ordinary workers, entrepreneurs, and celebrities—including singers and actors—also targeted. Human rights activists and organisations express concern. In March, Sheikh Mishal Al-Ahmad Al-Sabah pledged to 'cleanse Kuwait of impurities' and return the nation to its 'original people'.
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Site: Fr. Z's BlogMany priests observe the anniversary of their ordination at this time of year. It is a common time for ordinations, probably because Ember Days were common times for ordinations and Ember Days fall during the Pentecost Octave. In any event, … Read More →
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Site: non veni pacem
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Site: AsiaNews.itThe Karina Foundation held its biennial meeting in Jakarta from 21 to 24 May at the headquarters of the Bishops' Conference. The event brought together operators, bishops and international partners to boost the commitment to cooperation and integral human development. Fr Fredy Rante Taruk highlighted 'working closely with government stakeholders'.
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Site: Zero HedgeDoug Burgum Warns Whoever Wins AI Race 'Controls The World'Tyler Durden Mon, 05/26/2025 - 09:35
Authored by Philip Wegmann via RealClearPolitics,
Doug Burgum, the soft-spoken Interior secretary responsible for managing the more than 507 million acres of federally owned land, is haunted by a fear that seems, at first glance, outside his mandate. He worries the free world will lose dominance in the field of artificial intelligence, and with it, the future.
So does the president.
“When President Trump declared a national emergency on his first day in office it was, in large part, because of what we're facing with our electrical grid and making sure that we’ve got enough power to be able to win the AI arms race with China,” Burgum said Wednesday in remarks first reported by RealClearPolitics. “That is absolutely critical.”
Thus the stated policy of this White House: “It’s called drill, baby, drill,” Trump said earlier this spring.
The immediate goal, the one touted at every campaign, is to bring down the average price of a gallon of gas. The concurrent and long-term mission that Burgum obsesses over: AI dominance. The former governor from fracking-friendly North Dakota and tech entrepreneur who sold his software to Microsoft, Burgum laid out an abbreviated formula on stage at the America First Policy Institute.
Electricity generation via fossil fuels, like natural gas and coal, powers data centers “filled with these amazing chips,” the secretary said, “and you know what comes out the other side? Intelligence. A data center is literally manufacturing intelligence.” He envisioned a new world that follows, where the best computer programmer, or the most brilliant lawyers, could “clone themselves” again and again to train AI models to do the work of thousands in a process “that can be repeated indefinitely.”
No longer science fiction, the process has been headline news for some time. AI models like ChatGPT and X’s Grok are already available in every home with an internet connection. And the U.S. was the undisputed leader. That is, until recently.
American tech companies enjoyed a clear edge with not just the most powerful AI models, the most funding, and top engineering talent, but also the easiest access to those “amazing chips” that Burgum referenced. Former President Biden banned the export of the most advanced semiconductors to China. And yet DeepSeek, an unknown Chinese startup with less money and allegedly less sophisticated chips, still managed to one-up Silicon Valley earlier this year with a more powerful AI model.
The latest development in the battle for tech supremacy, in what some likened to “a Sputnik moment,” the DeepSeek launch rattled both markets and geopolitics. A new kind of AI nationalism now consumes heads of state convinced that their nations must develop their own technology or fall behind in the future. Said Russian President Vladimir Putin in 2017 of AI, “The one who becomes the leader in this sphere will be the ruler of the world.”
Burgum does not disagree. He would just prefer the West take on that role. “Trust me, you do not want to be getting your data from a Chinese data center,” he told the crowd, adding that “Whoever controls the manufacture of intelligence is going to control the world. The next five years is going to determine the next 50.”
This is the goal of the White House, including Vice President JD Vance, who once warned that falling behind on this front could mean that the U.S. meets China “on the battlefield of the future” with the equivalent of digital “muskets.”
Democrats on Capitol Hill are not thrilled. The day before, Maine Rep. Marie Pingree complained in the House Appropriations Committee that Burgum had gutted the department he leads and sought to slash Biden-era clean energy tax credits.
“In just four months, the department has been destabilized, and there’s been a stunning decline in its ability to meet its mission,” she told Burgum. “This disregards the climate change concerns that we have.”
The secretary replied that he was concerned with a more pressing order of operations. “The existential threats that this administration is focusing on are Iran cannot get a nuclear weapon, and we can’t lose the AI arms race to China,” Burgum said in committee. “That’s the number one and two. If we solve those two things, then we will have plenty of time to solve any issues related to potential temperature change.”
His immediate focus, then, is on how the U.S. can boost energy production. Burgum reported that industry leaders tell him electricity demand will soon outpace supply with astronomical numbers measured not in megawatts, but gigawatts. The power needed to run one data center, he said, would be equivalent to the electricity needs of Denver times 10.
Because AI has the potential to supercharge nearly every business, he said, “the demand for this product is like nothing we’ve ever seen in our lives.”
Concluded the Interior secretary, “The fundamental principles here again, as they say, we’re going to sell energy to our friends and allies, and we’re going to have enough energy here at home to be able to win the AI arms race. And this requires electricity.”
On this Burgum and Trump are simpatico. During the campaign, the president likened artificial intelligence to “the oil of the future.”
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