Holding Pattern: Coast Guard Awaits Special Forces Unit To Execute Venezuela-Linked Tanker Seizure

Update (1120ET):

U.S. Coast Guard forces remain in a holding pattern this week, awaiting the arrival of specialized teams to assist in the interdiction and seizure of the Venezuela-linked oil tanker Bella 1.

Reuters reports that the Coast Guard is awaiting one of two specialist units, known as Maritime Security Response Teams (MSRTs), which can board the tanker by rappelling from helicopters under hostile conditions.

MSRT units are called in for non-compliant vessels, hostile crews, or situations involving weapons, sanctions evasion, or national security threats. Regular Coast Guard boarding operations are not equipped to handle such situations.

Earlier this month, President Trump ordered a "blockade" of sanctioned oil shipments to disrupt Venezuela-Cuba-China flows, aiming to pressure and create instability in Caracas that would ultimately lead to further economic ruin across Cuba.

"There are limited teams who are trained for these types of boardings," Corey Ranslem, chief executive of maritime security group Dryad Global and previously with the U.S. Coast Guard, told Reuters.

The problem with a limited number of MSRT units is that it will complicate President Trump's gunboat diplomacy, as hundreds of dark tankers are operating to ensure 900,000 barrels per day of Venezuelan crude flows to Asia.

*   *   * 

President Trump's reposturing of the U.S. military forces toward the Western Hemisphere - effectively Monroe Doctrine 2.0 - reinforced this week by the deployment of additional special-operations aircraft, troops, and equipment into the Caribbean, as U.S. forces apply gunboat diplomacy against Venezuela to disrupt crude oil flows routed through Cuba and onward to China, a campaign that, if successful, could spark regime instability in Caracas, and amplify economic and political stress in Cuba as well.

The Wall Street Journal reported Tuesday that a "large number of special-operations aircraft, troops, and equipment" arrived in the Caribbean region early this week - a movement of military assets and personnel confirmed by U.S. officials and flight-tracking data.

According to the WSJ:

At least 10 CV-22 Osprey tilt-rotor aircraft, which are used by special-operations forces, flew into the region Monday night from Cannon Air Force Base in New Mexico, according to an official. C-17 cargo aircraft from Fort Stewart and Fort Campbell Army bases arrived Monday in Puerto Rico, according to flight-tracking data. A different U.S. official confirmed that military personnel and equipment were transported on planes.

It isn’t clear what types of troops and equipment the aircraft were transporting. Cannon is home to the 27th Special Operations Wing, while the 160th Special Operations Aviation Regiment, an elite U.S. special operations unit, and the 101st Airborne Division are based at Fort Campbell. The first battalion of the 75th Ranger Regiment is based at Hunter Army Airfield, at Fort Stewart.

The 27th Special Operations Wing and 160th Special Operations Aviation Regiment are trained to support high-risk infiltration and extraction missions and provide close air and combat support. Army Rangers are trained to seize airfields and provide security for specialized forces, such as SEAL Team Six or Delta Force, during a precise kill or capture mission.

In a separate report, defense and security media outlet Army Recognition, citing open-source intelligence accounts on X, indicated that the U.S. military is ramping up deployments of F-35A stealth fighter jets, intelligence aircraft, and electronic warfare platforms across the Caribbean.

David Deptula, a retired Air Force lieutenant general and dean of the Mitchell Institute for Aerospace Studies, an aerospace think tank, told WSJ that the "prepositioning forces" in the region are "to take action." He said the movement of such assets indicates that the administration has already decided on a course of action.

"The question that remains is to accomplish what?" Deptula said.

Trump's gunboat diplomacy - seizing two sanctioned tankers and targeting a third earlier this week - should be viewed as a pressure campaign to disrupt Venezuela-Cuba-China oil flows. It's always about following the money, and in this case, that oil money props up the Maduro regime.

Jorge Piñón, a Cuban exile who tracks the island's energy ties to Venezuela at the University of Texas at Austin, told WSJ earlier this week that once crude oil flows are cut, this would act as a domino effect and create regime instability in Caracas, warning that "it would be the collapse of the Cuban economy, no question about it."

According to analytics firm Kpler, Caracas has shipped nearly 900,000 barrels per day this year and relies on 400 dark-fleet tankers to transport the crude, much of which is bound for China.

"Venezuela has been remarkably effective at masking both origin and ownership of crude and therefore at evading financial and trade-related controls," Kpler analyst Dimitris Ampatzidis told Bloomberg. "That's why Washington has increasingly moved from purely financial measures to physical disruption."

The military buildup across the region and the use of gunboat diplomacy are clear signals of the U.S. intent to force regime change in Venezuela by disrupting Maduro's funding lifelines; China responded earlier this week, and Beijing is not pleased about crude oil disruptions.

Tyler Durden Wed, 12/24/2025 - 11:20

Tennessee Judge Postpones Abrego Garcia Trial Amid Claims Of Vindictive Prosecution

Authored by Melanie Sun via The Epoch Times,

A federal judge in Tennessee overseeing the criminal case involving El Salvador national and long-time Maryland resident Kilmar Abrego Garcia has canceled a trial date for the human smuggling case, pending a decision on whether to dismiss the case entirely over the defendant’s allegations of vindictive prosecution.

A trial date in the case had been set for Jan. 27, but U.S. District Judge Waverly Crenshaw of Nashville, Tennessee, in a Dec. 23 filing ordered to change the proceedings to an evidentiary hearing for the government to make its case against the allegations at 9 a.m. on Jan. 28, 2026.

From the arguments and evidence made in the proceedings, which could span a few days, Crenshaw will determine whether the case will proceed to trial or be dismissed.

“The Court has already found that Abrego has made such a showing, entitling him to discovery and an evidentiary hearing on why the government is prosecuting him,” Crenshaw wrote in the order.

“Given this, the burden has shifted to the government to ’rebut [the presumption] ”with objective, on-the-record explanations“' for charging Abrego.”

The indictment in Tennessee against Abrego Garcia came in May, which the defense noted was after a judge in Maryland—overseeing a separate civil case that will determine whether the government can deport the defendant—ordered his return from a prison in El Salvador to Maryland.

Abrego Garcia was indicted by a grand jury and charged with conspiracy to transport aliens and unlawful transportation of illegal aliens.

The alleged crimes happened during a 2022 traffic stop by Tennessee Highway Patrol troopers, in which he is accused of having worked with co-conspirators to knowingly smuggle illegal immigrants into the United States.

However, an immigration judge in 2019 ordered that, while Abrego Garcia had entered the United States unlawfully in 2011, the government was not allowed to deport him to El Salvador over a credible fear of persecution by gangs in his home country.

While the order did not bar his removal to safe third countries, Abrego Garcia stayed in the United States with a deportation hold for El Salvador.

Despite this hold, the Trump administration did indeed deport Abrego Garcia to El Salvador’s maximum security CECOT prison in March, which the administration later said was an “administrative error.” In April, the Supreme Court ordered the Trump administration to facilitate his return.

In its appeal, the defense argues that the government only started pursuing charges against Abrego Garcia after his deportation to El Salvador made national headlines. He pleaded not guilty in June, and in August, he rejected a plea deal to be deported to Uganda.

Abrego Garcia’s lawyers are attempting to have the case dismissed, arguing that the government is pursuing a vindictive and selective prosecution against their client for successfully fighting his removal to El Salvador in the other case.

The Department of Justice has denied the allegations and provided internal emails and an affidavit from acting U.S. Attorney for the Middle District of Tennessee Robert McGuire, who said he sought the indictment based on his belief that Abrego Garcia committed a federal crime.

“I received no direction from anyone at the White House, the Department of Homeland Security, the Department of Justice, or any other source on the question of whether to seek or not to seek an indictment in this case,” he said.

The Trump administration maintains that Abrego Garcia is an illegal immigrant who should face the law if found guilty of human smuggling.

Crenshaw said in a ruling on Oct. 3 that there was a “realistic likelihood that the prosecution against [Abrego Garcia] may be vindictive.” The ruling allowed for the defense to seek discovery and testimony from government officials about their decision to bring the charges.

However, Crenshaw said in the Dec. 23 order that the subpoenas requested by the defense for three high-ranking Justice Department officials—Deputy Attorney General Todd Blanche, acting Principal Associate Deputy Attorney General James McHenry, and Associate Deputy Attorney General Aakash Singh—will only be approved if the case is allowed to proceed to the next step.

The evidentiary hearing will focus on the government’s rebuttal of the defense’s motion to dismiss on grounds of vindictive prosecution.

The government has said it will call on testimony from Supervisory Special Agent John VanWie of Homeland Security Investigations (HSI) Baltimore, Special Agent Rana Saoud of HSI Nashville, and perhaps McGuire in the hearing.

In the Maryland case, the government continues pursuing the deportation of Abrego Garcia, now to Liberia.

Maryland Federal Judge Paula Xinis is overseeing that case. Xinis has expressed concern that the country to which Abrego Garcia is deported could eventually send him back to El Salvador. He has requested to be deported to Costa Rica, but the Trump administration is pursuing deportation to a list of countries in Africa.

“If the government were to say today, we’re going to remove Mr. Abrego Garcia to Costa Rica,” a defense attorney told a court on Dec. 22, his client is prepared to go “as soon as this afternoon.”

Abrego Garcia remains out on bond in Maryland with his family after being released from the custody of Immigration and Customs Enforcement, due to a temporary restraining order that prevents him from being taken into custody while Xinis considers the case.

Tyler Durden Wed, 12/24/2025 - 10:45

Tim Cook Buys Nike Stock At Bear-Market Extremes

Apple CEO Tim Cook bought another tranche of Nike shares in the open market, according to new insider filings. The purchase comes after roughly four years of share-price declines, with shares trading below Covid-era prices and at 2017 levels, pressured by softer demand in China and mixed channel trends in North America.

Cook made his second purchase of Nike shares this year, buying $2.95 million worth, equivalent to 50,000 Class B shares, at a weighted average price of $58.97 on Monday.

In total, Cook owns 100,000 shares and has been on a buying spree in the four-year bear market. Cook has been buying Nike shares since 2014 (mostly purchases late in the year).

Looking back at Cook’s share purchases during the four-year bear market, the stock did not sustain an upward trend immediately afterwards. Still, Bloomberg noted that shares were up about 2% in premarket trading on the news.

It’s important to note that sentiment around Nike shares is extremely bearish. Goldman Sachs analysts, led by Brooke Roach, said last week that she had become “incrementally cautious” following dismal earnings, particularly as demand in China continues to slide. The report can be found here.

If only there were a way for Nike to stop being so woke and get Chinese consumers to buy their Air Force 1s again.

Tyler Durden Wed, 12/24/2025 - 10:25

Are European Hawks Finally Sobering Up For Christmas?

Russia's outspoken deputy chair of the Security Council and former president Dmitry Medvedev has continued what he does best - mocking and trolling European leaders over their Ukraine stance. He has reacted on social media to recent remarks by German Defense Minister Boris Pistorius and Finnish President Alexander Stubb, saying he was struck by what he described as a noticeably softer approach toward Russia.

Even France's Emmanuel Macron has also of late reached out to Moscow, seeking to enter direct dialogue with President Putin over the future of the conflict. This is in large part appears motivated by Europe not wanting Washington to control the narrative on potential peace settlement.

Writing on his channel on the "Max" platform, Medvedev said he was surprised by the two leaders' positions, arguing that they appeared to diverge from what he called the prevailing European Union narrative of a "Russian threat," which he said has been driven by Brussels.

Years prior, Medvedev with his family at a Christmas church service, Wiki Commons.

His comments come amid ongoing high tensions between Russia and Western countries, but as some European officials begin also to signal a more measured view of the likelihood of a direct military confrontation.

Medvedev wrote with in his characteristically sarcastic tone, "The 'European peacemakers' caught me off guard."

"Pistorius stated he doesn't believe a war between NATO and Russia is imminent, and Stubb acknowledged that Russia has no interest in attacking member countries of the alliance," he continued.

And then questioned, "What’s going on? Are they finally sobering up, or have the Christmas holidays already begun?"

As a reminder, Christmas in Russia falls on January 7th, which is Russian Orthodox Christmas based on the older, pre-Gregorian calendar.

TASS notes to its readers that in Europe on Dec. 25 and after, "These days typically mark a holiday period extending through New Year’s. In Germany, festivities often feature mulled wine and flaming punch, while in Finland, they enjoy even stronger Swedish glogg."

As for Pistorius' recent remarks in an interview with Die Zeit and elsewhere, he's apparently distanced himself from alarmism within NATO. Now he's saying he does not believe in a scenario of a full-scale war between Russia and the alliance. The German defense chief was actually pushing back against other hawks, a rarity:

He was commenting on remarks by NATO Secretary General Mark Rutte, who said the Alliance must be prepared for a war “on the scale experienced by our grandfathers and great-grandfathers”. Pistorius responded bluntly, saying this was most likely a figurative exaggeration. “I do not believe in such a scenario. In my view, Putin does not intend to wage a full-scale global war against NATO.” At the same time, he stresses that this does not remove the need to rearm the Bundeswehr. Recently, he said that the past summer may have been “the last peaceful one” for Europe.

So now Medvedev is responding somewhat positively with a warmish Christmas greetings of sorts, while also in his fashion saying essentially 'told ya so'.

Just last month, Boris Pistorius warned a German newspaper that Europe may already have seen its last peaceful summer and that Russia and NATO could be at war next year.

Now he says there will be no Third World War and that talk of a NATO–Russia conflict is “figurative… https://t.co/ON8uLCI8zR

— Brian McDonald (@27khv) December 23, 2025

Moscow, including Putin himself, has taken pains to make clear that there are no plans for some kind of expansion of the war into NATO countries, and that Russia is not looking to reconstitute a lost empire or the Soviet Union.

Tyler Durden Wed, 12/24/2025 - 09:45

Cocaine Dogs & 'Safe Space Ambassadors': Rand Paul Airs The Festivus (Budget) Grievances

Via BattleSwarmblog.com,

Happy Festivus to those who celebrate! In keeping with the spirit of the season, Sen. Rand Paul has graced us once again with his traditional airing of grievances.

Senator Rand Paul (R., Ky.) released a report Tuesday detailing $1.6 trillion in government waste, in keeping with his annual “Festivus” tradition of airing grievances against wasteful federal spending.

A whopping $1.2 trillion of that wasteful spending is interest payments on the ballooning national debt, according to the report, which contains numerous examples of government programs Paul considers to be useless and fiscally irresponsible.

“Last Festivus, we clamored over the national debt reaching over an astronomical $36 trillion. Shockingly, in one short year, the career politicians and bureaucrats in Washington have managed to reach nearly $40 trillion in debt, without so much as a second thought. When asked who’s to blame for our crushing level of debt, the answer is ‘Everyone.’ This year, Congress voted to raise the debt ceiling by $5 trillion, the most we ever have,” Paul’s report reads.

“Congress keeps shoveling money toward pet projects and special interests while hardworking Americans pay the price through inflation and crushing interest rates – even after President Trump took action to end most foreign aid programs.”

A staunch fiscal conservative, Paul releases the “Festivus” report every year to playfully draw attention to the U.S. national debt and excessive federal spending.

His grievances are directed towards the Trump and Biden administrations, especially on welfare spending, Covid-19 policy and foreign policy.

“I have no grievances with @POTUS, zero, none, nada, zilch. Mr. President, I wish you a Merry Christmas, a Happy New Year, and a successful third term,” Paul joked on social media.

“…ok, do you think he stopped reading yet? Cause I do have one or two grievances, and I think we have to be fair and list them against both sides,” Paul added.

Festivus origins snipped, because everyone’s familiar, or they can click that first link.

Paul’s report cites numerous examples of bizarre experiments and training programs the U.S. taxpayer is funding.

For instance, the National Institutes of Health spent $5 million to give dogs cocaine.

I bet Hunter Biden would have carried out that research on a “cost plus” basis.

Similarly, NIH spent $13.8 million on beagle experiments pioneered by former National Institute of Allergy and Infectious Diseases director Dr. Anthony Fauci.

The Department of Health and Human Services is spotlighted several times in Paul’s “Festivus” report.

HHS spent $1.5 million to combat drug use in “latinx” communities through influencer marketing campaigns and $1.9 million on a mobile phone intervention meant to help reduce obesity among latino families in the Los Angeles area.

Another L.A.-focused HHS program was a $936,000 marketing campaign towards certain LGBT subcultures to inform them about STD testing and treatment.

HHS had another drug-oriented project in New York City, where the agency spent $2.1 million to collect saliva and conduct surveys at EDM clubs and festivals.

Additionally, HHS gave $3.3 million to Northwestern University to create “scientific neighborhoods,” hire “safe space ambassadors” and form committees with the purpose of dismantling “systemic racism.”

No discussion of budget pork be complete without covering the social justice graft.

A major HHS expense that previously drew scrutiny was the $22.6 billion it spent on welfare and other expenses for illegal immigrants during the Biden administration. Likewise, Paul’s report mentions the $7.5 billion of congressional funds allocated for the Biden administration’s EV charger network, which only built 68 charging stations nationwide.

The National Science Foundation is also highlighted in the report for its spending on questionable research.

NSF and other agencies spent $14 million to have monkeys play a video game inspired by the Price is Right game show.

Moreover, the NSF spent $2.4 million on programs that promote bugs as food for human consumption.

Skipping over the DoD’s dolphin training program, which people adjacent to it have told me is very effective.

Two of the largest expenses Paul’s report features are nearly $200 billion of Covid-19 relief funds for schools and $187 billion the Federal Reserve paid to banks for interest on funds the banks maintain at the Fed.

Flu manchu is the fraudcow insiders continue to milk.

For all the Trump47 Administration’s manifest successes, it has not enjoyed overwhelming success cutting the budget. DOGE was a great start, but then they shut it down. For the survival of America, DOGE needs to be the beginning of Trump47’s budget cutting efforts, not the totality of them.

Tyler Durden Wed, 12/24/2025 - 09:25

Soaring Memory Costs Sink Nintendo Shares; Goldman Says Selloff Is Buy-The-Dip Opportunity

Prices for LPDDR5 DRAM (Low-Power Double Data Rate 5 Dynamic Random-Access Memory) tripled this fall, as we noted in October in "Chatbots: Soaking Up the World's Power, Water, and Memory." LPDDR5 is a form of system memory that delivers higher bandwidth and greater power efficiency than prior generations, making it well-suited for laptops, smartphones, and the explosion in demand for AI-enabled devices.

Update: two months later https://t.co/Q4TPIrpzxV pic.twitter.com/O3KTKxZOVE

— zerohedge (@zerohedge) December 22, 2025

Goldman analyst Maho Kamiya told clients on Tuesday that concerns about rising memory prices and the absence of top-down tailwinds have sent Nintendo shares spiraling. After a 27% decline from its early November peak, the analyst asks whether the selloff has become overdone.

"Some investors think that Nintendo will be selling Switch 2 at a loss and gross profit falling into the red. While rising memory prices are a risk factor that could depress hardware margins, we think concerns are somewhat excessive," Kamiya said.

In a separate report, Goldman analyst Minami Munakata maintained her bullish view on Nintendo and also addressed rising memory price concerns:

In light of rising memory prices, we note some discussion in the equity market assuming that Nintendo Switch 2 hardware could fall into the red at the gross profit level. While it is true that rising memory prices are a risk factor that could depress hardware margins, we think concerns are somewhat excessive, because:

1. Nintendo holds a certain amount of component inventory and does not conduct spot transactions with its supply chain, so we believe the short-term earnings impact will be minor (our assumption),

2. The Nintendo Switch 2 is expected to see cost reductions from mass production going forward, and

3. Management has commented that, as a general rule, its policy is to pass on cost increases, including tariffs, to the selling price.

We re-emphasize that in the dedicated game console business, content such as software is highly profitable and is the source of profits for the business model. Nintendo has built a solid position by owning numerous titles with high global popularity and name recognition, such as Super Mario Bros. and Pokémon. We expect that, similar to the PS4-to-PS5 transition, an expansion in revenue per hardware unit, driven by software backward compatibility and an increase in the third-party title pipeline, will drive earnings in the Nintendo Switch 2 generation.

Munakata even told clients that the recent stock plunge in Tokyo is an "opportunity" to "add to position"...

We see the recent share price correction as an opportunity to add to positions ahead of full-scale earnings growth accompanying the Nintendo Switch 2's penetration from FY3/27, and the April 2026 release of The Super Mario Galaxy Movie, a prime example of IP utilization. We maintain our Buy rating.

The chart:

We suspect the conversation about soaring memory prices will be a hot topic for some tech companies during the next earnings season.

Tyler Durden Wed, 12/24/2025 - 09:05

Trump Admin Bans Anti-Free Speech EU Globalists From Entering US

America finally draws a line in the sand against foreign meddlers...

Modernity.news Steve Watson details below that the Trump administration has slapped visa bans on former EU Commissioner Thierry Breton and four other ‘anti-disinformation’ activists, accusing them of coercing American social media companies to censor viewpoints they dislike.

The move signals a zero-tolerance policy toward extraterritorial censorship, especially after the EU’s recent assaults on Elon Musk’s X.

Secretary of State Marco Rubio laid it out clearly: “For far too long, ideologues in Europe have led organized efforts to coerce American platforms to punish American viewpoints they oppose. The Trump Administration will no longer tolerate these egregious acts of extraterritorial censorship.”

For far too long, ideologues in Europe have led organized efforts to coerce American platforms to punish American viewpoints they oppose. The Trump Administration will no longer tolerate these egregious acts of extraterritorial censorship.

Today, @StateDept will take steps to…

— Secretary Marco Rubio (@SecRubio) December 23, 2025

Under Secretary of State for Public Diplomacy and Public Affairs Sarah B. Rogers stated “These sanctions are visa-related. We aren’t invoking severe Magnitsky-style financial measures, but our message is clear: if you spend your career fomenting censorship of American speech, you’re unwelcome on American soil.”

Today, the United States issued SANCTIONS reinforcing the "red line" I invoked on @GBNEWS. Namely: extraterritorial censorship of Americans.

Today's sanctions target the censorship-NGO ecosystem.? https://t.co/kaefDo11uh

— Under Secretary of State Sarah B. Rogers (@UnderSecPD) December 23, 2025

The list includes Thierry Breton, who notoriously threatened Elon Musk over hosting a 2024 interview with Donald Trump on X. Others barred are Imran Ahmed, CEO of the Center for Countering Digital Hate (CCDH), who worked with Democrats like Amy Klobuchar to “kiII Musk’s Twitter”; Joan Donovan, founder of The Critical Internet Studies Institute; Kate Starbird, co-founder of the University of Washington’s Center for an Informed Public; and Jim Davey, co-founder of the Institute for Strategic Dialogue.

WE’VE SANCTIONED: Thierry Breton, a mastermind of the Digital Services Act. In August 2024, while serving as European Commissioner for Internal Markets and Digital Services, he published a letter using the DSA to threaten @elonmusk ahead of his livestream interview with President…

— Under Secretary of State Sarah B. Rogers (@UnderSecPD) December 23, 2025

WE'VE SANCTIONED: Clare Melford. She leads Global Disinformation Index (GDI), a UK-based organization that monitors websites for “hate speech” and “disinformation”. If you question Canadian blood libels about residential schools, you're engaging in “hate speech” according to… pic.twitter.com/5F3fU4hf4R

— Under Secretary of State Sarah B. Rogers (@UnderSecPD) December 23, 2025

WE’VE SANCTIONED: Josephine Ballon, co-leader of HateAid, who flags disfavored speech throughout Europe under the Digital Services Act. In addition to her running an official “trusted flagger” body under the DSA, she serves on Germany’s Advisory Council of the Digital Services…

— Under Secretary of State Sarah B. Rogers (@UnderSecPD) December 23, 2025

Our targets are foreign, but you'll notice that some collaborated with U.S. bureaucrats on Murthy-style speech suppression. Don't worry: we're pursuing transparency, truth, and reconciliation at the @StateDept, too.

— Under Secretary of State Sarah B. Rogers (@UnderSecPD) December 23, 2025

As @SecRubio has noted, today's list is illustrative not exhaustive. We stand "ready and willing to expand" it.https://t.co/eS65g6i8OP

— Under Secretary of State Sarah B. Rogers (@UnderSecPD) December 23, 2025

This retaliation comes amid escalating tensions between the Trump administration and the EU. As we previously detailed, Brussels hit X with a $140 million fine under the Digital Services Act for refusing to comply with their censorship demands, marking a blatant attack on free expression.

Musk fired back fiercely, declaring the “EU commissars are responsible for the murder of Europe” and calling to “Dissolve the EU and return power to the people.” He highlighted X’s surge in popularity across Europe despite the fine, noting it became the top news app in every EU country.

The broader feud intensified when EU Council President Antonio Costa warned Trump to “keep his hands off Europe” amid the free speech crackdown. Costa condemned U.S. “interference” in European affairs, ignoring the bloc’s own slide into authoritarian control over online content.

Trump himself has blasted Europe’s direction, urging citizens to confront unchecked migration and over-regulation that’s “endangering the continent as we know it.” In interviews, he stressed, “Europe has to be very careful… We want to keep Europe Europe,” and called the EU’s fine on X “nasty” and unjust.

Breton, who left the European Commission in 2024, has slammed the ban as a “witch hunt,” comparing the situation to the US McCarthy era when officials were chased out of government for alleged ties to communism.

“To our American friends: Censorship isn’t where you think it is,” he declared on X.

Is McCarthy’s witch hunt back? ?

As a reminder: 90% of the European Parliament — our democratically elected body — and all 27 Member States unanimously voted the DSA ??

To our American friends: “Censorship isn’t where you think it is.”

— Thierry Breton (@ThierryBreton) December 23, 2025

France also condemned the visa ban on Breton, but the Trump team remains unmoved. This action underscores America’s commitment to protecting its tech giants from foreign regulatory harassment, prioritizing sovereignty and open discourse over globalist dictates.

As Brussels doubles down on surveillance tools like the DSA and proposed Chat Control laws, which threaten privacy by scanning private messages, the U.S. pushback exposes the hypocrisy of EU elites preaching democracy while building an Orwellian framework.

With Trump in charge, expect more defense of freedoms against such overreach. This ban on Breton and his allies is a clear message: Attempts to censor U.S. platforms from abroad will face consequences. The era of tolerating globalist bullying is over.

[ZH: To all of this we have one simple response: ]

Hey Imran, f**k you!

Tyler Durden Wed, 12/24/2025 - 08:45

Initial Jobless Claims Once Again Show No Signs Of Labor Market Stress

The number of Americans filing for first time jobless benefits tumbled to 214k (from 224k) in the week ending Dec 20th. This is the same level of claims seen back in Nov 2021 and shows absolutely no stress in the labor market (like ADP showed a rebound in hiring) while JOLTS, Payrolls, and surveys all suggest pain...

Source: Bloomberg

Illinois, New York, and Pennsylvania are the states with the biggest decline in jobless claims while Rhode Island and Massachusetts saw a small rise in jobless claims...

Continuing jobless claims rebounded from the shutdown/Thanksgiving seasonal SNAFU but remain well off YTD highs...

Source: Bloomberg

Not exactly the kind of data that supports more rate-cuts...

Tyler Durden Wed, 12/24/2025 - 08:38

Futures Flat With Early Close On Deck

And there it is: the Santa Rally which we predicted would begin a week ago after Abu Dhabi removed much of the AI capex fears festering the OpenAI ecosystem, the S&P has rocketed to a new record high on Tuesday, with stocks looking set for a quiet start to the abbreviated Christmas Eve session. As of 8:00am ET, S&P 500 futures and Nasdaq 100 contracts were little changed following four days of gains in US stocks which signal confidence among investors that 2026 will bring decent corporate earnings growth and easing inflation, not to mention the restart of the Fed's QE Lite which has so far injected $40bn into the market. The result is relative calm in equities, with no down month since April and a VIX which is below 14. In premarket trading, Nike gained 2.1% after a filing shows that Apple CEO Tim Cook purchased $2.95 million worth of shares. Intel shares fall as much as 3.1% in premarket trading after Reuters reported that Nvidia halted a test that uses the chip manufacturer’s 18A technology to produce its chips, while a Commerce Department official said Intel is not "too strategic to fail." Wednesday’s shortened cash trading session finishes at 1 p.m. ET. Most of the drama is playing out in commodities, with gold, silver and platinum all hitting fresh record highs. On today's economic calendar we have the latest MBA Mortgage Applications (-5.0%) and the weekly Initial and continuing jobless claims.

In premarket trading, Mag 7 stocks trade mixed after four straight days of gains (Alphabet +0.5%, Tesla +0.2%, Amazon +0.1%, Microsoft little changed, Apple -0.2%, Meta -0.3%, Nvidia -0.4%)

• AST SpaceMobile Inc. (ASTS) is up 2.7% after launching its largest-ever satellite from India, the first in a series of deployments to help the company compete against Elon Musk’s SpaceX in delivering space-based connectivity to mobile phones.
• Dynavax (DVAX) jumps 38% after Sanofi says it will start a cash tender offer to acquire all outstanding shares of the vaccine maker for $15.50 per share in cash, reflecting a total equity value of ~$2.2 billion.
• Intel (INTC) falls 3.2% after Reuters reported that Nvidia halted a test that uses the chip manufacturer’s 18A technology to produce its chips.
• Nike (NKE) gains 2.1% after a filing shows that Apple CEO Tim Cook purchased $2.95 million worth of shares on Dec. 22.
• Ramaco (METC) is up 7.7% after the coal mining company announced a share repurchase program of up to $100 million of the currently outstanding shares of its Class A common stock.

In other corporate news, Sanofi agreed to buy Dynavax Technologies for about $2.2 billion, as the French drugmaker tries to expand a vaccines business currently anchored by its flu shot franchise. Emeryville, California-based Dynavax soared 38% in premarket.

Investors are drawing optimism from a US economy that continues to outperform expectations, supporting earnings prospects in the year ahead. At the same time, money markets still see scope for at least two Federal Reserve rate cuts in 2026, a backdrop that could lift a broader range of stocks even as valuation concerns linger around pace-setting tech shares.

“Recent sessions suggest Santa may still arrive,” wrote Ipek Ozkardeskaya, analyst at Swissquote. After that “reality may bite. Parts of the technology market probably look bubbly, and next year’s earnings season will be less about shiny numbers and more about where revenues actually come from.”

In commodities action, precious metals hit more record highs, buoyed by geopolitical concerns and expectations for more interest-rate cuts in 2026. Gold touches $4,500 an ounce for the first time, while silver and platinum also surge to all-time highs. The moves put gold and silver on track for their best yearly gains since 1979. Copper is also at a new record around $12,200 a ton, and is set for its biggest annual rise since 2009

Gold has climbed more than 70% this year and silver is up about 150%, putting both on track for their strongest performance since 1979. The gains have been underpinned by elevated central-bank purchases, the return of Fed QE and huge inflows into exchange-traded funds. Momentum was also boosted by President Donald Trump’s push to reshape global trade and his threats to the Fed’s independence.

“Even though equity markets are doing well, even though data points to a bit of a risk-on environment, I do think that, on the margins, that people want to be defensive against inflation and other risks as much as possible,” Geoff Yu, EMEA macro strategist at BNY, told Bloomberg TV. “Hence, gold is doing well.”

With most European markets either closed or on a half-day, the Stoxx 600 equity index is little changed after nothing a fresh record high Tuesday and is set for a third straight year of gains. The benchmark is also on track for one of its strongest quarters in two years amid lingering optimism around global economic growth and lower borrowing costs.  France’s CAC 40 Index gained 0.1% and the UK’s FTSE 100 was down 0.2% as of 9:09 a.m. in London. Stock exchanges in Germany, Italy, Denmark, Switzerland and Finland are shut through the day. The UK, France and Spain will be open for half-day of trading. 

Ipek Ozkardeskaya, senior analyst at Swissquote, said stocks are still likely to rally in the final days of the year. “And after that? Reality may bite. Parts of the technology market probably look bubbly, and next year’s earnings season will be less about shiny numbers and more about where revenues actually come from.”

Among individual movers, Sanofi SA dipped after the French drugmaker said the US Food and Drug Administration has issued a complete response letter for its experimental multiple sclerosis drug. The French pharmaceutical firm also agreed to buy Dynavax Technologies for about $2.2 billion. BP Plc edged higher after agreeing to sell a majority stake in its Castrol division to US investment firm Stonepeak Partners in a deal valuing the business at $10.1 billion including debt.

Asian stocks eked out a small gain, as losses in Japan and South Korea were offset by gains in China and Vietnam. The MSCI Asia Pacific Index rose as much as 0.4% before paring slightly, on course to cap its fourth day of gains. Tech names including TSMC, SK Hynix and Advantest led the rise.  

In FX, the dollar fell for a third day, extending its decline for the year to 8.4% and marking the greenback’s biggest annual slide since 2017.The Bloomberg Dollar Spot Index fell 0.2%, adding to its 0.3% slip on Tuesday; USD/JPY dropped 0.4% to 155.84. The pair has been under pressure on increasing concerns about that Japan may intervene to support the yen

In rates, gilts reverse an early decline, and yields are now little changed, while other European bond markets are closed.  US yields richer by up to 1bp across the curve in a flattening move, tightening 2s7s and 7s30s spreads a touch on the day. Treasury 10-year yields trade around 4.155%, richer by 0.8bp on the day with gilts lagging in the sector. Treasury is selling $44 billion 7-year notes at 11:30 am New York. Ahead of today’s sale, the WI 7-year yield is about 3.934% which is ~15bp cheaper than the November stop-out of 3.781%

In commodities, precious metals hit more record highs, buoyed by geopolitical concerns and expectations for more interest-rate cuts in 2026. Gold touches $4,500 an ounce for the first time, while silver and platinum also surge to all-time highs. The moves put gold and silver on track for their best yearly gains since 1979. Copper is also at a new record around $12,200 a ton, and is set for its biggest annual rise since 2009. Oil prices are edging higher, with Brent trading around $62.50/barrel.

The US economic calendar includes weekly jobless claims at 8:30 am.

Market Snapshot

• S&P 500 mini little changed
• Nasdaq 100 mini little changed
• Russell 2000 mini little changed
• Stoxx Europe 600 little changed
• CAC 40 +0.1%
• 10-year Treasury yield little changed at 4.16%
• VIX +0.1 points at 14.13
• Bloomberg Dollar Index -0.2% at 1199.44
• euro little changed at $1.1798
• WTI crude +0.2% at $58.52/barrel

Top Overnight News

• American Economy Keeps Powering Ahead, Defying Dire Predictions: WSJ
• Trump posted "Growth is up and Inflation is down in President Trump’s first year".
• NEC Director Kevin Hassett said President Trump has "a bunch of great Fed chair candidates", via Fox Business; Precious metals are skyrocketing for good reason.
• Gold tops $4500 while silver, platinum surge to new peaks: RTRS
• China Is Worried AI Threatens Party Rule—and Is Trying to Tame It: WSJ
• Russia to Demand Changes to US Peace Plan Seen as Starting Point: BBG
• Ukrainian troops withdraw from eastern town of Siversk: RTRS
• Zelenskiy seeks meeting with Trump to hammer out issue of territory: RTRS
• Two police officers killed by bomb in Moscow near site of Russian general's killing: RTRS
• Russia plans a nuclear power plant on the moon within a decade: RTRS
• Italy Orders Meta to Allow Competing AI Chatbots on Whatsapp: BBG
• Snowflake is reportedly in talks to purchase Observe for around USD 1bln, according to The Information.
• Apple CEO bought some USD 3mln of Nike stock: BBG
• Sanofi to acquire hepatitis B vaccine maker Dynavax for $2.2 billion: RTRS
• BP to sell 65% stake in Castrol to Stonepeak for $6 billion: RTRS
• Lockheed Martin awarded USD 10bln modification to previously awarded US Air Force contract: Pentagon
• Boeing awarded USD 2bln contract by US Air Force: Pentagon
• Whoever Trump Picks, the Next Fed Chair Won’t Be Independent: WSJ

Trade/Tariffs

• Chinese Commerce Ministry holds roundtable with foreign trade firms.
• China's Foreign Ministry said we firmly opposes the indiscriminate use of chip tariffs and unreasonable suppression of China by the US. Urges the US to correct its wrong practices. Will take corresponding measures to safeguard rights and interests if the US persists.
• Japan and US agree to expedite the USD 550bln investment project, according to Bloomberg, citing a statement.

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded mixed and within narrow ranges following a largely positive lead from Wall Street. APAC lacked conviction amid light newsflow and anaemic volumes as markets wound down ahead of the holidays. ASX 200 edged lower, with weakness in Tech and Healthcare outweighing strength across the mining complex. Nikkei 225 held onto modest gains, oscillating around the 50.5k level despite JPY strength, supported by a calmer domestic bond market. Hang Seng and Shanghai Comp varied, with little in the way of fresh domestic catalysts. Price action broadly reflected the indecisive regional risk tone.

Top Asian News

• Earthquake of magnitude 5.50 hits Taipei, via Reuters witnesses.

The FTSE 100 (-0.1%) is incrementally this morning, whilst the CAC 40 is posting marginal gains; cash trade for DAX 40, FTSE MIB and the SMI remain shut on account of Christmas Eve.

Top European News

• Italy Orders Meta to Allow Competing AI Chatbots on Whatsapp
• Belgium’s Central bank Says Will Appeal €300K FSMA Fine
• BNP Paribas’ Farber Sees Value in Single B European Credit

Central Banks

• BoJ Oct 29–30 meeting minutes (two meetings ago): Members agreed the BoJ will continue to raise rates if economic and price forecasts materialise. Many members said the likelihood of economic and price forecasts materialising has heightened, but must maintain policy to confirm whether positive wage-setting behaviour will not be disrupted. One member said the timing of a rate hike is approaching, but authorities should wait a bit longer to scrutinise the direction of the new administration’s policies.

FX

• DXY is essentially flat and trades within a narrow 97.74 to 97.96 range. Nothing really driving things for the index this morning, given the usual holiday-lull. Traders will await Jobless Claims later today, but aside from that the docket is void of anything pertinent from a Dollar perspective. G10s are also broadly little changed vs the USD, aside from the JPY which is the marginal outperformer this morning.
• JPY marginally strengthened against the USD in overnight trade, but without a specific catalyst. The strength likely a continuation of the more aggressive jawboning heard via Finance Minister Katayama earlier in the week, where she stated they had a “free hand” to take bold action in the FX market. Thereafter, in the European session, Reuters reported that Japan is to reduce its new issuance of super-long JGBs next fiscal year to around JPY 17tln. A source report which comes after PM Takaichi rejected any "irresponsible bond issuance or tax cuts". USD/JPY currently trading at the lower end of a 155.57 to 156.28 range.
• South Korean Presidential office said they are closely watching FX.
• South Korea's pension fund said to implement strategic foreign exchange hedging measures, according to Reuters sources.
• Brazilian Central Bank to offer USD 2bln in Dollar auction with repurchase agreements on 26th December.

Fixed Income

• EGBs closed.
• JGBs were firmer for much of the overnight session but spent it drifting lower, paring recent Takaichi-inspired gains. The main move came in the European morning as Reuters reported that Japan is set to cut 2026 ultra-long JGB issuance by around JPY 17tln, a report that in a somewhat delayed reaction, lifted JGBs by around 20 ticks to a test of 133.00 to the upside. Reminder, BoJ's Ueda is tentatively scheduled to speak on Christmas Day.
• USTs in a thin 112-08 to 112-12+ band. Docket ahead features US weekly jobless claims and then a 7yr auction after the 5yr auction on Tuesday, a tap that was mixed overall with a better tail though the b/c was below the prior.
• Gilts opened flat just above 91.00 before dipping to a 90.80 trough and then rebounding back to the figure with specifics light.
• Japan is to reduce its new issuance of super-long JGBs next fiscal year to around JPY 17tln, according to Reuters sources. JGB Mar'26 lifted from 132.78 to a test of 133.00 to the upside in the 15-minutes from 09:10GMT following this report.

Commodities

• As Christmas Eve trade gets underway, WTI and Brent briefly pulled back to USD 58.25/bbl and USD 62.22/bbl before extending on Tuesday’s gains to peak at USD 58.76/bbl and USD 62.76/bbl as the European session continues.
• Spot XAU briefly extended above USD 4500/oz, continuing the gains made in the metal space this year, before a sharp pullback as traders take profit going into Christmas. XAU peaked at USD 4526/oz early in the APAC session before the sharp pullback to USD 4471/oz. Thus far, the yellow metal continues to hover just below USD 4500/oz as light European trade continues.
• 3M LME Copper is set for its best year since 2009, helped by the near 7% gains made in December. After setting a new ATH of USD 12.17k/t in Tuesday’s session, the red metal opened just shy of the ATH but pulled back to a trough of USD 12.06k/t, filling the price gap. Just as the European session got underway, 3M LME Copper surged higher to a new ATH of USD 12.28k/t and holds above USD 12.2k/t as the European morning continues.
• Naftogaz announces that Russia attacked Ukraine's oil and gas infrastructure overnight.
• Shell's (SHEL LN) manufacturing centre, Corunna, reported potential for increased flaring and noise for the next few hours due to process interruption.
• US Private Inventory (bbls): Crude +2.4mln (exp. -2.4mln), Distillate +0.7mln (exp. +0.4mln), Gasoline +1.1mln (exp. +1.1mln), Cushing +0.6mln.
• US Private Inventory Expectations (bbls): Crude (exp. -2.4mln), Distillate (exp. +0.4mln), Gasoline (exp. +1.1mln).

Geopolitics

• Russia's Kremlin announces that Special Envoy Dmitriev has reported to Putin on the trip to the US; On peace deal, says Russia will now formulate its position and continue contacts in very near future.
• Naftogaz announces that Russia attacked Ukraine's oil and gas infrastructure overnight.
• Ukrainian President Zelensky said we are significantly closer to finalising a plan with the US but mainly split on territorial issues. Ukraine expects an answer from Russia on Wednesday to end the war. Draft plan opens the way for 'potential' demilitarised zones and freeze combat on current lines. Plan does not require Kyiv to formally renounce NATO bid.
• Ukrainian drone attack sparks fire at industrial site in Russia's Tula region, according to the regional governor.
• Russian President Putin said Russia "reject Israel's repeated violations of Syrian territory", via Al Arabiya.

US Event Calendar

• 7:00 am: US Dec. MBA Mortgage Applications, prior -3.8%
• 8:30 am: US Dec. 20 Initial Jobless Claims, est. 223,000, prior 224,000
• 8:30 am: US Dec. 13 Continuing Claims, est. 1.9m, prior 1.9m

Tyler Durden Wed, 12/24/2025 - 08:29

Aussie Leaders Crush Online Free Speech To Prop Up Failing Multiculturalism

Authored by Steve Watson via Modernity.news,

As radical Islamist threats continue to plague Australia, politicians are pivoting to policing speech and tightening gun laws on law-abiding citizens—now openly admitting curbs on free expression are needed to shield their multicultural agenda.

Victorian Premier Jacinta Allan has unveiled a sweeping plan to combat what she calls rising anti-Semitism, but the measures conveniently sidestep the core issue of unchecked radical Islamism behind recent attacks, focusing instead on doxxing anonymous social media users and reviewing gun laws.

In a joint news conference, Allan announced legislation that would force social media platforms to reveal identities behind anonymous accounts accused of spreading ‘hate’. “Under Victoria’s civil anti-vilification scheme which starts in 2026, the speaker of a vilifying statement generally needs to be identifiable and held accountable,” she stated.

?BREAKING: Victorian Premier Jacinta Allan will push to legislate stronger hate speech laws by compelling social media platforms to identify people behind anonymous accounts used to ridicule another person or group, with a specially appointed jurist to make it legally possible. pic.twitter.com/EaeIwSM0TY

— Australians vs. The Agenda (@ausvstheagenda) December 22, 2025

She continued, “We recognise that this could protect cowards who hide behind anonymous profiles to spread hate and stoke fear.” emphasising, “That is why Victoria will spearhead new laws to hold social media companies and anonymous users to account and will appoint a respected jurist to unlock the legislative path forward.”

The move comes in the wake of the horrific Bondi Beach attack, where Pakistani radicals with ISIS ties slaughtered 16 people, including Jews celebrating Hanukkah. Yet, rather than addressing the importation of radical ideologies through porous borders, Allan’s response echoes the deflection seen from federal leaders.

Allan also announced a review of Victoria’s gun laws, appointing former police chief commissioner Ken Lay to examine ways to “toughen” them further. This aligns with a national push for stricter controls, even as Australia’s existing laws are among the world’s toughest—proving once again that disarming citizens does little to stop determined terrorists.

Allan’s government is also granting police new powers to ban protests in the aftermath of terror incidents, following New South Wales’ lead. While framed as a response to anti-Semitism, the timing—right after an Islamist massacre—highlights a pattern of Aussie politicians avoiding direct confrontation with radical Islam.

Instead, figures like Allan and Prime Minister Anthony Albanese repeatedly spotlight “right-wing extremists” and “neo-Nazis” as the supposed primary threats. In the days following Bondi, Albanese warned of the “rise of right-wing extremists,” despite the attackers’ clear Islamist motivations.

This unwillingness to name radical Islamism head-on persists. Clips from recent press conferences show leaders dodging questions on Islamist radicalization, pivoting to vague warnings about “extremism” from all sides—but with a heavy emphasis on the far-right. For instance, in a Sky News appearance, Albanese reiterated concerns over “neo-Nazis” infiltrating protests, even as intelligence agencies thwart Islamist plots weekly.

Reporter: “Is radical Islam the greatest domestic security threat Australia faces?”

Albanese: “Neo-Nazis” pic.twitter.com/qFWcJqNPVG

— chris mate ? (@ChrisLXXXVI) December 19, 2025

As we detailed previously, Albanese doubled down on the “diversity is our strength” mantra while cops smashed yet another Islamist terror cell en route to Sydney. That incident saw seven suspects from Victoria—Allan’s own state—rammed off the road, underscoring the real dangers festering under lax migration policies.

Victoria’s latest measures, including potential civil liability for social media giants if users can’t be identified, reek of a surveillance state expansion. Platforms could face lawsuits for “hate speech” posted anonymously, effectively ending online anonymity for critics of government policy.

In a stunning admission during a joint news conference, New South Wales Premier Chris Minns also defended Australia’s restrictive speech laws, explicitly linking them to preserving multiculturalism amid rising tensions.

Minns pushed back against calls to repeal vilification statutes, stating, “There’s been some that have been agitating in the Parliament to nullify The laws, To remove them off the statute books.”

He warned, “Think about what kind of toxic Message That would send to the New South Wales community.”

Challenging opponents, Minns demanded, “Advocates for those changes need to explain What do they want people to have the right to say? What kind of racist abuse do they want to see or be able Lawfully see on Streets of Sydney.”

Minns openly contrasted Australia with the U.S., declaring, “I recognise and I’ve fully said from beginning, we don’t have the same freedom of speech laws That they have in the United States. And the reason for that is we want to hold together our multicultural community and have people live In peace free from the kind of vilification and hatred that we do see around the world.”

Australia continues to respond to a massacre by Islamic terrorists by censoring the ability to say multiculturalism doesn’t work. https://t.co/u7ReOUnxiH

— Paul Joseph Watson (@PrisonPlanet) December 22, 2025

The clip, widely shared on X, exposes how leaders view free speech as a threat to their imported diversity model—preferring censorship over addressing the Islamist violence eroding public safety.

Australia’s slide toward authoritarianism accelerates as leaders exploit tragedies to muzzle dissent. From hate speech crackdowns to gun grabs, the focus remains on controlling citizens rather than securing borders against radicals.

If history teaches anything, it’s that sacrificing freedoms for “safety” never ends well. True security demands confronting the Islamist menace directly—not hiding behind laws that punish speech and disarm the innocent.

Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

Tyler Durden Wed, 12/24/2025 - 08:05

Peter Schiff: Printing Money Is Not the Cure for Cononavirus



In his most recent podcast, Peter Schiff talked about coronavirus and the impact that it is having on the markets. Earlier this month, Peter said he thought the virus was just an excuse for stock market woes. At the time he believed the market was poised to fall anyway. But as it turns out, coronavirus has actually helped the US stock market because it has led central banks to pump even more liquidity into the world financial system. All this means more liquidity — central banks easing. In fact, that is exactly what has already happened, except the new easing is taking place, for now, outside the United States, particularly in China.” Although the new money is primarily being created in China, it is flowing into dollars — the dollar index is up — and into US stocks. Last week, US stock markets once again made all-time record highs. In fact, I think but for the coronavirus, the US stock market would still be selling off. But because of the central bank stimulus that has been the result of fears over the coronavirus, that actually benefitted not only the US dollar, but the US stock market.” In the midst of all this, Peter raises a really good question. The primary economic concern is that coronavirus will slow down output and ultimately stunt economic growth. Practically speaking, the world would produce less stuff. If the virus continues to spread, there would be fewer goods and services produced in a market that is hunkered down. Why would the Federal Reserve respond, or why would any central bank respond to that by printing money? How does printing more money solve that problem? It doesn’t. In fact, it actually exacerbates it. But you know, everybody looks at central bankers as if they’ve got the solution to every problem. They don’t. They don’t have the magic wand. They just have a printing press. And all that creates is inflation.” Sometimes the illusion inflation creates can look like a magic wand. Printing money can paper over problems. But none of this is going to fundamentally fix the economy. In fact, if central bankers were really going to do the right thing, the appropriate response would be to drain liquidity from the markets, not supply even more.” Peter explained how the Fed was originally intended to create an “elastic” money supply that would expand or contract along with economic output. Today, the money supply only goes in one direction — that’s up. The economy is strong, print money. The economy is weak, print even more money.” Of course, the asset that’s doing the best right now is gold. The yellow metal pushed above $1,600 yesterday. Gold is up 5.5% on the year in dollar terms and has set record highs in other currencies. Because gold is rising even in an environment where the dollar is strengthening against other fiat currencies, that shows you that there is an underlying weakness in the dollar that is right now not being reflected in the Forex markets, but is being reflected in the gold markets. Because after all, why are people buying gold more aggressively than they’re buying dollars or more aggressively than they’re buying US Treasuries? Because they know that things are not as good for the dollar or the US economy as everybody likes to believe. So, more people are seeking out refuge in a better safe-haven and that is gold.” Peter also talked about the debate between Trump and Obama over who gets credit for the booming economy – which of course, is not booming.

We are living in crazy times. I have a hard time believing that most of the general public is not awake, but in reality, they are. We've never seen anything like this; I mean not even under Obama during the worst part of the Great Recession." Now the Fed is desperately trying to keep interest rates from rising. The problem is that it's a much bigger debt bubble this time around , and the Fed is going to have to blow a lot more air into it to keep it inflated. The difference is this time it's not going to work." It looks like the Fed did another $104.15 billion of Not Q.E. in a single day. The Fed claims it's only temporary. But that is precisely what Bernanke claimed when the Fed started QE1. Milton Freedman once said, "Nothing is so permanent as a temporary government program." The same applies to Q.E., or whatever the Fed wants to pretend it's doing. Except this is not QE4, according to Powell. Right. Pumping so much money out, and they are accusing China of currency manipulation ? Wow! Seriously! Amazing! Dump the U.S. dollar while you still have a chance. Welcome to The Atlantis Report. And it is even worse than that, In addition to the $104.15 billion of "Not Q.E." this past Thursday; the FED added another $56.65 billion in liquidity to financial markets the next day on Friday. That's $160.8 billion in two days!!!! in just 48 hours. That is more than 2 TIMES the highest amount the FED has ever injected on a monthly basis under a Q.E. program (which was $80 billion per month) Since this isn't QE....it will be really scary on what they are going to call Q.E. Will it twice, three times, four times, five times what this injection per month ! It is going to be explosive since it takes about 60 to 90 days for prices to react to this, January should see significant inflation as prices soak up the excess liquidity. The question is, where will the inflation occur first . The spike in the repo rate might have a technical explanation: a misjudgment was made in the Fed's money market operations. Even so, two conclusions can be drawn: managing the money markets is becoming harder, and from now on, banks will be studying each other's creditworthiness to a greater degree than before. Those people, who struggle with the minutiae of money markets, and that includes most professionals, should focus on the causes and not the symptoms. Financial markets have recovered from each downturn since 1980 because interest rates have been cut to new lows. Post-2008, they were cut to near zero or below zero in all major economies. In response to a new financial crisis, they cannot go any lower. Central banks will look for new ways to replicate or broaden Q.E. (At some point, governments will simply see repression as an easier option). Then there is the problem of 'risk-free' assets becoming risky assets. Financial markets assume that the probability of major governments such as the U.S. or U.K. defaulting is zero. These governments are entering the next downturn with debt roughly twice the levels proportionate to GDP that was seen in 2008. The belief that the policy worked was completely predicated on the fact that it was temporary and that it was reversible, that the Fed was going to be able to normalize interest rates and shrink its balance sheet back down to pre-crisis levels. Well, when the balance sheet is five-trillion, six-trillion, seven-trillion when we're back at zero, when we're back in a recession, nobody is going to believe it is temporary. Nobody is going to believe that the Fed has this under control, that they can reverse this policy. And the dollar is going to crash. And when the dollar crashes, it's going to take the bond market with it, and we're going to have stagflation. We're going to have a deep recession with rising interest rates, and this whole thing is going to come imploding down. everything is temporary with the fed including remaining off the gold standard temporary in the Fed's eyes could mean at least 50 years This liquidity problem is a signal that trading desks are loaded up on inventory and can't get rid of it. Repo is done out of a need for cash. If you own all of your securities (i.e., a long-only, no leverage mutual fund) you have no need to "repo" your securities - you're earning interest every night so why would you want to 'repo' your securities where you are paying interest for that overnight loan (securities lending is another animal). So, it is those that 'lever-up' and need the cash for settlement purposes on securities they've bought with borrowed money that needs to utilize the repo desk. With this in mind, as we continue to see this need to obtain cash (again, needed to settle other securities purchases), it shows these firms don't have the capital to add more inventory to, what appears to be, a bloated inventory. Now comes the fun part: the Treasury is about to auction 3's, 10's, and 30-year bonds. If I am correct (again, I could be wrong), the Fed realizes securities firms don't have the shelf space to take down a good portion of these auctions. If there isn't enough retail/institutional demand, it will lead to not only a crappy sale but major concerns to the street that there is now no backstop, at all, to any sell-off. At which point, everyone will want to be the first one through the door and sell immediately, but to whom? If there isn't enough liquidity in the repo market to finance their positions, the firms would be unable to increase their inventory. We all saw repo shut down on the 2008 crisis. Wall St runs on money. . OVERNIGHT money. They lever up to inventory securities for trading. If they can't get overnight money, they can't purchase securities. And if they can't unload what they have, it means the buy-side isn't taking on more either. Accounts settle overnight. This includes things like payrolls and bill pay settlements. If a bank doesn't have enough cash to payout what its customers need to pay out, it borrows. At least one and probably more than one banks are insolvent. That's what's going on. First, it can't be one or two banks that are short. They'd simply call around until they found someone to lend. But they did that, and even at markedly elevated rates, still, NO ONE would lend them the money. That tells me that it's not a problem of a couple of borrowers, it's a problem of no lenders. And that means that there's no bank in the world left with any real liquidity. They are ALL maxed out. But as bad as that is, and that alone could be catastrophic, what it really signals is even worse. The lending rates are just the flip side of the coin of the value of the assets lent against. If the rates go up, the value goes down. And with rates spiking to 10%, how far does the value fall? Enormously! And if banks had to actually mark down the value of the assets to reflect 10% interest rates, then my god, every bank in the world is insolvent overnight. Everyone's capital ratios are in the toilet, and they'd have to liquidate. We're talking about the simultaneous insolvency of every bank on the planet. Bank runs. No money in ATMs, Branches closed. Safe deposit boxes confiscated. The whole nine yards, It's actually here. The scenario has tended to guide toward for years and years is actually happening RIGHT NOW! And people are still trying to say it's under control. Every bank in the world is currently insolvent. The only thing keeping it going is printing billions of dollars every day. Financial Armageddon isn't some far off future risk. It's here. Prepare accordingly. This fiat system has reached the end of the line, and it's not correct that fiat currencies fail by design. The problem is corruption and manipulation. It is corruption and cheating that erodes trust and faith until the entire system becomes a gigantic fraud. Banks and governments everywhere ARE the problem and simply have to be removed. They have lost all trust and respect, and all they have left is war and mayhem. As long as we continue to have a majority of braindead asleep imbeciles following orders from these psychopaths, nothing will change. Fiat currency is not just thievery. Fiat currency is SLAVERY. Ultimately the most harmful effect of using debt of undefined value as money (i.e., fiat currencies) is the de facto legalization of a caste system based on voluntary slavery. The bankers have a charter, or the legal *right*, to create money out of nothing. You, you don't. Therefore you and the bankers do not have the same standing before the law. The law of the land says that you will go to jail if you do the same thing (creating money out of thin air) that the banker does in full legality. You and the banker are not equal before the law. ALL the countries of the world; Islamic or secular, Jewish or Arab, democracy or dictatorship; all of them place the bankers ABOVE you. And all of you accept that only whining about fiat money going down in exchange value over time (price inflation which is not the same as monetary inflation). Actually, price inflation itself is mainly due to the greed and stupidity of the bankers who could keep fiat money's exchange value reasonably stable, only if they wanted to. Witness the crash of silver and gold prices which the bankers of the world; Russian, American, Chinese, Jewish, Indian, Arab, all of them collaborated to engineer through the suppression and stagnation of precious metals' prices to levels around the metals' production costs, or what it costs to dig gold and silver out of the ground. The bankers of the world could also collaborate to keep nominal prices steady (as they do in the case of the suppression of precious metals prices). After all, the ability to create fiat money and force its usage is a far more excellent source of power and wealth than that which is afforded simply by stealing it through inflation. The bankers' greed and stupidity blind them to this fact. They want it all, and they want it now. In conclusion, The bankers can create money out of nothing and buy your goods and services with this worthless fiat money, effectively for free. You, you can't. You, you have to lead miserable existences for the most of you and WORK in order to obtain that effectively nonexistent, worthless credit money (whose purchasing/exchange value is not even DEFINED thus rendering all contracts based on the null and void!) that the banker effortlessly creates out of thin air with a few strokes of the computer keyboard, and which he doesn't even bother to print on paper anymore, electing to keep it in its pure quantum uncertain form instead, as electrons whizzing about inside computer chips which will become mute and turn silent refusing to tell you how many fiat dollars or euros there are in which account, in the absence of electricity. No electricity, no fiat, nor crypto money. It would appear that trust is deteriorating as it did when Lehman blew up . Something really big happened that set off this chain reaction in the repo markets. Whatever that something is, we aren't be informed. They're trying to cover it up, paper it over with conjured cash injections, play it cool in front of the cameras while sweating profusely under the 5 thousands dollar suits. I'm guessing that the final high-speed plunge into global economic collapse has begun. All we see here is the ripples and whitewater churning the surface, but beneath the surface, there is an enormous beast thrashing desperately in its death throws. Now is probably the time to start tying up loose ends with the long-running prep projects, just saying. In other words, prepare accordingly, and Get your money out of the banks. I don't care if you don't believe me about Bitcoin. Get your money out of the banks. Don't keep any more money in a bank than you need to pay your bills and can afford to lose.











The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more













The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

The FBI released a summary of its file from the Hillary Clinton email investigation on Friday, showing details of Clinton's explanation of her use of a private email server to handle classified communications. The release comes nearly two months after FBI Director James Comey announced that although Clinton's handling of classified information was "extremely careless," it did not rise to the level of a prosecutable offense. Attorney General Loretta Lynch announced the next day that she would not pursue charges in the matter. "We are making these materials available to the public in the interest of transparency and in response to numerous Freedom of Information Act (FOIA) requests," the FBI noted in a statement sent to reporters with links to the documents. The documents include notes from Clinton's July 2 interview with agents, as well as a "factual summary of the FBI's investigation into this matter," according to the FBI release. Throughout her interview with agents, Clinton repeatedly said she relied on the career professionals she worked with to handle classified information correctly. The agents asked about a series of specific emails, and in each case Clinton said she wasn't worried about the particular material being discussed on a nonclassified channel.