Senate Advances Resolution Preventing Trump From Further Military Force In Venezuela Without Approval

The Senate issued a harsh rebuke of President Trump's actions in Venezuela, voting 52-47 on a bipartisan measure to block him from using military force "within or against Venezuela" unless he obtains Congressional approval first.

Sen. Rand Paul, R-KY, speaks to reporters alongside Sen. Tim Kaine, D-VA, during a pen and pad meeting with reporters at the U.S. Capitol on January 07, 2026 in Washington, DC.

The war powers measure came after an unsuccessful attempt by Republican leaders to kill the resolution and preserve Trump's authority amid the president's threats of a "second wave" of attacks. Trump has said the US would "run" the country on a temporary basis following last week's military operation to capture and extradite leader Nicolás Maduro. 

The legislation - which was introduced by Sen. Tim Kaine (D-VA), was cosponsored by Sens. Rand Paul (R-KY), Adam Schiff (R-CA) and Senate Minority Leader Chuck Schumer (D-NY). 

Five Republicans joined all 47 Democrats in voting 'yes' on the motion to advance the resolution to the Senate floor; Paul, Susan Collins, Lisa Murkowski, Todd Young and Josh Hawley. 

"Instead of responding to Americans’ concerns about the affordability crisis, President Trump started a war with Venezuela that is profoundly disrespectful to U.S. troops, deeply unpopular, suspiciously secretive and likely corrupt. How is that ‘America First?‘" said Kaine. "Trump’s war is also clearly illegal because this military action was ordered without the congressional authorization the Constitution requires."

The procedural motion means that there will be a full Senate vote on the measure next week, which will require only a simple majority and is expected to pass. It will then require House approval and Trump's signature, making it unlikely to become law as Trump would undoubtedly veto - but it still sends a symbolic message (and possible groundwork to impeach?) that could impact Trump's foreign policy going forward. 

"To my Senate colleagues: enough is enough," said Kaine. "You were sent here to have courage and to stand up for your constituents. That means no war without a debate and vote in Congress."

According to Paul, some members of Congress want to "shift the burden of war to the president" instead of taking responsibility.

"But make no mistake, bombing another nation’s capital and removing their leader is an act of war, plain and simple," said Paul. "No provision in the Constitution provides such power to the presidency."

The rebuke comes as Trump has suggested he's open to boots on the ground in Venezuela, while also threatening action against Iran, Greenland and Colombia on Sunday - adding that Cuba "is ready to fall." 

Sen. Collins said in response to the measure: "I believe invoking the War Powers Act at this moment is necessary, given the President’s comments about the possibility of ‘boots on the ground’ and a sustained engagement ‘running’ Venezuela, with which I do not agree," while Murkowski said Congress must "affirm our role under Article 1." 

In advance of the vote, Sen. Majority Whip John Barrasso (R-WY) urged Senators to reject the war powers measure, calling Maduro's capture a law enforcement operation.

"It does not make America stronger. It makes America weaker and less safe," he said in a written statement. "It would weaken the President’s legitimate, constitutional authority. This body, the United States Senate, is being asked whether the President of the United States has the authority to arrest indicted criminals. Of course he does."

Tyler Durden Thu, 01/08/2026 - 12:25

Farmland Shock: Georgia Grower Drops 3,000 Acres, Warns Of Unplanted Ground in 2026

By Chris Bennett of Farm Journal

How deep is the farm crisis? Adios to acreage.

In November 2025, Alex Harrell, among the most highly reputed producers in the U.S., dropped an old-school grading scale, A to F, across his 6,000-acre operation and slashed almost half his ground, notifying 12 landlords in a three-week window. “I can’t speak to the rest of the country, but around here, generational growers are either cutting back, quitting, falling into Chapter 12, or grasping at straws.”

Spurred by crippling inputs, Harrell’s acreage drop is an alarming indication of an agriculture economy in dire straits. “There will be significant acres in my area that won’t be planted next year,” he says. “I’m seeing it with my own eyes in real time.”

“People don’t realize there was ground here in 2025 that didn’t get planted, but you can already see what’s developing for 2026. Guys are walking away.”

Down Comes the Ax 

No fat left to trim. Nothing to burn but muscle. No way to outyield cold math.

“Something has to give when you go three years and more just spinning your wheels on net profit,” Harrell, 36, explains. “The numbers aren’t complicated. When fertilizer, chemical, and machinery costs go up 300% over a short span of time, everything is upside down, especially when commodities go in the tank.”

“Guys are quitting and walking away, and that eventually leads to land that doesn’t get picked up … Cropland with no crop,” says Alex Harrell.(Photo courtesy of Harrell Farms)

In 2025, Harrell grew 6,000 acres of corn, soybeans, cotton, and wheat in southwest Georgia’s Lee County. “Breaking even is bad enough in farming, but we’re all way below that around here. We are literally paying to farm—not getting paid to farm. Every year, it costs more to farm input-wise, and unless something changes with these retailers, I don’t see things changing. Based on that, I took a long look at my operation.”

But what to do when there’s nothing left to cut on the farm? Cut the farm itself.

In November 2025, Harrell put his leased acreage under the microscope, under a seven-category lens subject to grades A through F:

1. How many miles away was the land?
2. How productive is the soil?
3. What was the water source (pond, creek, or well)?
4. How was irrigation powered (electric or diesel)?
5. On base acres, how productive was the farm related to PLC and ARC?
6. How did wildlife depredation factor for deer and wild pigs (and whether landowners allowed for shooting with deer permits)?
7. How much was rent?

Harrell axed any piece of ground that scored C through F in more than two categories. The reduction totaled 45% of his crop ground.

“It’s pretty straightforward. The only way I could figure out to make things work was to break down those farms individually and grade them on a scale. Then I dropped the ones that didn’t pass—and that included the very first irrigated farm I ever rented, and ground we’ve put 16, 17 crops on that I’ve been working for years. It was time to turn them loose. Like I said, that’s how bad the farm economy is around here. In some ways, I think the worst part is still to come, but people don’t realize that yet.”

No Bidding War 

Harrell’s acreage chop may go deeper. “I’ve still got considerations to make on some farms. I’ve still got ground flirting on the line. I may have to make more calls to landlords.”

Rent on irrigated ground in Harrell’s region typically runs $275-330 per acre. How did his landlords react when he dropped acres?

“I had one that offered to drop rent a little bit, but I understand because they’re used to having 10 guys sitting there waiting to rent that land. In my opinion, I don’t think they understand the shifting dynamic of the farm economy. This time, people are not going to be beating their doors down. I’m not saying their particular acres won’t get rented, but there’s definitely not going to be a bidding war.”

“Even last year in 2025, there was irrigated land down here that didn’t get worked. In 2026, there’ll be even more. I can’t speak for anyplace else in the U.S., but in southwest Georgia, this is what we’re seeing in farmland, especially marginal ground. It’s already happening.

Yield Forfeit 

Prior to Harrell’s acreage slash, his operation stretched 21 miles east, 30 miles west, 15 miles north, and 15 miles south.

“I tightened the circle. I think my furthest farm is only going to be about 10 miles from me now. When you look at fuel, labor, time, and insurance involved in running up and down the road, that kills you whenever you put a tractor on a highway.

“In some ways, I think the worst part is still to come, but people don’t realize that yet.” (Photo by Chris Bennett)

“Next, I’ve got to consider equipment and labor cuts to drop our insurance at least a little, at the same time keeping my eye on the fine line where I’ve got to keep enough acres to spread equipment over.”

Getting bigger and going longer is out—at least for Harrell. “Yeah, that’s how I used to think: Just go across more acres, make inputs cost less, and that’ll solve everything. Not anymore. What people come to see is that spreading too far in the Southeast means that nine times outta ten, you forfeit yield, because there’s no way to look after your crops like they need.”

Translated: Irrigation, weed control, repeated fungicide applications, labor logistics, and host of other management practices create a never-ending game of catch-up.

“There are Midwest farmers out there on big, big acres that do a fantastic job, but in the Southeast, we can’t get behind a single day on irrigation, or we lose yield,” Harrell notes. “Then factor in all the other aspects people don’t think about—like wildlife damage from deer and hogs, and countless spray trips across the field—and things get really complicated. I don’t think it’s an exaggeration to say a 15,000-acre operation in the Midwest compares to a 5,000-acre in the Southeast as far as demand on a farmer. That doesn’t mean anybody is better or worse, but it sure means things are very different.”

Walking Away 

On Aug. 13, 2024, Alex Harrell fired the soybean shot heard round the farm world with a bin-busting 218.28 bushels per acre, shattering his own world record of 206.79 bushels set in 2023. Back to back, he grew the highest yielding soybeans in history.

Harrell has a tight grasp on agronomics, crop management, and bottom-line financials. The extreme rub endured by growers over successive years is down to the bone, he warns.

“We can grow most any variety of crop in the world right here, but we’re at the point of seeing what happens when none of them will turn a profit due to the crazy input prices. We’ve now got guys with all their land and equity burned up, and we’re seeing Chapter 12 bankruptcies every day. Guys are quitting and walking away, and that eventually leads to land that doesn’t get picked up. That’s how terrible things have gotten, even if some people don’t see it yet. Cropland with no crop.”

Tyler Durden Thu, 01/08/2026 - 12:05

Zelensky Complains He Hasn't Received A Clear Security Guarantee, Despite Big Talk From West

This week kicked off with France and the UK agreeing to send troops to Ukraine once a ceasefire with Russia is reached, and there have been unconfirmed reports that Washington is planning to do the same - but President Trump has not at all formally signed off on this.

Of course, such a move would result in a firm 'no' from Moscow, which would simply see this as NATO forces operating and constituting a threat right on its border. The big Paris conference hosted by France's President Macron on Tuesday featured the usual hawkish bluster out of European leaders, but Ukraine's Zelensky - who was present - has complained in the aftermath that a finalized agreement on security guarantees remains ambiguous and not yet confirmed.

When asked about security guarantees from the West in the event of a future post-truce Russian attack, Zelensky said, "I am asking this very question to all our partners and I have not received a clear, unambiguous answer yet."

Still, President Trump's envoy Steve Witkoff has claimed that "significant progress" had been made on the issue. "We have made significant progress on several critical workstreams, including our bilateral security guarantee framework and a prosperity plan," Witkoff stated on X immediately after the summit.

"We agree with the Coalition that durable security guarantees and robust prosperity commitments are essential to a lasting peace in the Ukraine and we will continue to work together on this effort." And yet rhetoric and statements out of Washington on the issue have been kept intentionally vague.

Zelensky has been frustrated all along: he gets robust (verbal) commitments out of the Europeans, while simultaneously Washington drags its feet or even resists - from Zelensky's perspective. It's been an enduring back-and-forth, and plenty of bickering, among the Western allies - but nothing in the end gets signed.

And Trump himself is likely to balk at anything which can be seen as violating his frequent campaign promise of no American 'boots on the ground' in Ukraine.

But speaking of something much delayed, Trump has wanted to see Zelensky swiftly hold elections. According to the latest in Ukrainian media:

Ukraine’s working group on preparing elections during a special or post-war period met for the second time on Thursday, Jan. 8, with the Central Election Commission (CEC) having prepared its proposals in advance.

The issue of holding elections in Ukraine is included among the 20 points of a peace plan developed between Washington and Kyiv.

Earlier, Ukraine’s parliament approved the creation of a cross-party working group tasked with drafting a one-off law regulating elections under martial law, amid growing domestic and international debate over how democratic processes can be preserved during Russia’s war.

This too seems a recipe for some intentional feet-dragging, and all the while Zelensky himself has piled on 'requirements' - such as a short-term truce which would allow the vote to proceed.

This week's Paris meeting.

But Russia would have to agree to this, and it has often resisted proposals of merely short-term ceasefires. It wants a permanent, lasting political resolution and brings the war to an end. Also important that if Zelensky continues to test Trump's patience, he won't be getting any sought-after 'security guarantees' at all.

Tyler Durden Thu, 01/08/2026 - 11:45

From Manheim Consulting today: Manheim Used Vehicle Value Index: December 2025 Trends

The Manheim Used Vehicle Value Index (MUVVI) rose to 205.5, reflecting a 0.4% increase for wholesale used-vehicle prices (adjusted for mix, mileage, and seasonality) compared to December 2024. The December index is up 0.1% month over month.
emphasis added

Click on graph for larger image.

This index from Manheim Consulting is based on all completed sales transactions at Manheim’s U.S. auctions.

The Manheim index suggests used car prices increased in December (seasonally adjusted) and were up 0.4% YoY.

The post Donald Trump’s $6 Trillion Tax Hike and Increase in Military Spending appeared first on CEPR.

The Census Bureau and the Bureau of Economic Analysis reported:

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $29.4 billion in October, down $18.8 billion from $48.1 billion in September, revised.

October exports were $302.0 billion, $7.8 billion more than September exports. October imports were $331.4 billion, $11.0 billion less than September imports.
emphasis added

Click on graph for larger image.

Exports increased and imports decreased in October. 

Exports were up 12% year-over-year; imports were down 4% year-over-year.
Imports increased sharply earlier this year as importers rushed to beat tariffs.  

The second graph shows the U.S. trade deficit, with and without petroleum.

The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.

Note that net, exports of petroleum products are positive and have been increasing.

The trade deficit with China decreased to $14.9 billion from $28.1 billion a year ago.

The DOL reported:

In the week ending January 3, the advance figure for seasonally adjusted initial claims was 208,000, an increase of 8,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 199,000 to 200,000. The 4-week moving average was 211,750, a decrease of 7,250 from the previous week's revised average. This is the lowest level for this average since April 27, 2024 when it was 210,250. The previous week's average was revised up by 250 from 218,750 to 219,000.
emphasis added

The following graph shows the 4-week moving average of weekly claims since 1971.

Click on graph for larger image.

The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased to 211,750.

This was slightly above the consensus estimate.

Infamous CIA Double-Agent Aldrich Ames Dies At 84

Aldrich Ames, one of the most consequential double agents in the history of U.S. intelligence, has died while serving a life sentence in a federal prison in Maryland, according to a report by The Associated Press. Ames, a former senior official at the Central Intelligence Agency, was convicted in 1994 of spying for the Soviet Union and later Russia in what remains one of the most damaging intelligence breaches ever suffered by the United States.

Former senior Central Intelligence Agency official Aldrich Hazen Ames is being taken from federal court in Alexandria on February 22, 1994, after being charged with spying for the former Soviet Union. Ames' wife, Mari del Rosario Casas Ames, has been charged with the same crime. (LUKE FRAZZA/AFP via Getty Images)

Ames was arrested in February 1994 and, two months later, pleaded guilty to espionage charges. A U.S. court sentenced him to life imprisonment without the possibility of parole, concluding a counterintelligence case that had shaken the CIA and exposed deep institutional failures in internal security.

From Career Officer to Double Agent

Ames joined the CIA in 1962 and spent much of his career focused on Soviet and Eastern Bloc intelligence operations. By the early 1980s, he had risen to a senior position with access to some of the agency’s most sensitive counterintelligence information, including the identities of U.S. sources inside the Soviet Union.

In April 1985, Ames began voluntarily providing classified information to Moscow. While he later cited dissatisfaction with his professional standing and frustration with U.S. institutions, investigators determined that financial motives were primary. At the time he began spying, Ames was experiencing serious personal debt, exacerbated by alcohol abuse and an expensive lifestyle.

Over more than eight years, Soviet and later Russian intelligence services paid Ames in excess of $2.5 million in cash and deposits - making him one of the highest-paid spies in modern intelligence history.

Devastating Consequences

The damage caused by Ames’s espionage was extraordinary. According to U.S. officials and historians, information he provided compromised approximately 30 CIA and FBI intelligence operations. Most devastatingly, he revealed the identities of more than 20 covert sources working for the United States inside the Soviet Union.

At least ten of those exposed agents were executed during the final years of the Soviet state. Among them was Dmitry Polyakov, a highly placed general in the Soviet military intelligence service, the GRU. Polyakov had secretly provided intelligence to the United States for more than 25 years and was widely regarded as one of the most valuable human intelligence assets ever recruited by U.S. agencies. He was arrested by Soviet authorities in 1986 and executed two years later.

The sudden collapse of U.S. intelligence networks in Moscow during the mid-1980s initially baffled American officials. Multiple agents were arrested in rapid succession, raising suspicions of a major internal breach - though it would take nearly a decade for Ames to be identified as the source.

Exposure and Arrest

Ames’s downfall ultimately came through financial scrutiny rather than direct intelligence leads. Despite his modest government salary, he made large cash purchases, paid off debts, and lived far beyond his means. By the early 1990s, counterintelligence investigators began closely examining unexplained wealth among CIA personnel with access to compromised operations.

In February 1994, Ames and his wife, Rosario, were arrested outside their home in Arlington, Virginia. Rosario Ames later pleaded guilty to conspiracy charges and was sentenced to more than five years in prison.

Institutional Fallout

The Ames case had profound consequences for the CIA. The agency faced intense congressional scrutiny over lax internal controls, insufficient financial monitoring of employees, and failures in counterintelligence oversight. The scandal prompted widespread reforms, including enhanced background checks, financial disclosure requirements, and more aggressive internal security programs.

Then-CIA Director James Woolsey resigned in 1995 amid ongoing criticism related to the agency’s handling of the case, though multiple reviews acknowledged that the failures spanned several administrations and leadership teams.

Tyler Durden Thu, 01/08/2026 - 06:55

My morning train WFH reads:

• The Great Credit Convergence: How public and private credit are now one market (Paul Kedrosky)

• The Emperor’s New Oil Wealth: You may have heard that Venezuela has the world’s largest oil reserves — 300 billion barrels. You probably don’t know that Venezuela’s reported oil reserves tripled while Hugo Chavez was president. This increase, from roughly 100 billion to 300 billion barrels, didn’t reflect major new discoveries or exploration — it reflected the Chavez government’s decision to reclassify the country’s Orinoco Belt heavy oil as “proved.” It is not… (Paul Krugman) see also On the Legality of the Venezuela Invasion: Executive branch precedents can be garnered to support the action—which does not, of course, mean that it is lawful. (Executive Functions)

• A tale of two Ralphs — Lauren and the supermarket — shows the reality of a K-shaped economy: Wealthy shoppers browse Ralph Lauren on Rodeo Drive while struggling consumers hunt for bargains at Ralphs grocery, revealing America’s stark wealth divide this holiday season. The K-shaped economy shows high-income households thriving with rising pay and asset gains while lower-income families squeeze budgets amid inflation and stagnant wages. (Los Angeles Times)

• America Is Falling Out of Love With Pizza: Restaurant chains explore strategy changes as sales slow for food-delivery mainstay. (Wall Street Journal)

• A Risk of Cognitive Convenience: What ChatGPT and GPS have in common. (Range Widely)

• Disgust Over Jan. 6 Is No Longer Bipartisan. The aftermath of Jan. 6 made the Republican Party even more feckless, beholden to one man and willing to pervert reality to serve his interests. Once Mr. Trump won election again in 2024, despite his role in encouraging the riot and his many distortions about it, it emboldened him to govern in defiance of the Constitution, without regard for the truth and with malice toward those who stand up to his abuses. (New York Times) see also Five years later, these 10 corporations still aren’t funding election deniers. On January 6, 2021, a violent mob stormed the Capitol building. Following the attack, over a hundred major companies released statements condemning the insurrection and promising to stop donating to the 147 members of Congress who voted to overturn the 2020 election, or to halt all political donations entirely. (Popular Information)

• Why Trump wants Greenland and what’s standing in his way: Denmark’s leader warned that any use of force by Washington to seize Greenland, as Trump officials have suggested, would render the postwar NATO alliance defunct. (Washington Post)

• Millions of Kids Are on ADHD Pills. For Many, It’s the Start of a Drug Cascade. Powerful psychotropic drugs are often the next step, even though their combined effects in young children haven’t been studied closely. ‘I was living in a body hijacked by the medication.’ (Wall Street Journal)

• Nine science-backed ways to help you feel better in 2026. From channelling your anger to writing lists and singing more often – here are some science-backed tips to boost your wellbeing. (BBC) see also The New Rules Of Good, Deep Sleep Will Help You Feel More Rested And Energetic: Spoiler: Quality may be more important than quantity. (Women’s Health)

• The Worst Shot Ever Taken: The author and his closest basketball confidantes undertake a formal analysis of Steph Curry’s shot at the Paris Olympics as art object (The Believer)

Be sure to check out our Masters in Business interview this weekend with Ben Hunt, founder of Perscient, a firm that studies how narratives and stories shape markets, investing, and social behavior through the lens of information theory, game theory, and unstructured data analysis. His work analyzes the language, story arcs, and viral spread of explanations in media

 

Why Trump wants Greenland and what’s standing in his way

Source: Washington Post

 

Sign up for our reads-only mailing list here.

 

The post 10 Thursday AM Reads appeared first on The Big Picture.

Military Spending Is On The Rise In Asia

Over the past five years, military expenditure in Asia has climbed sharply, reflecting escalating regional tensions and global security concerns. According to the most recent SIPRI data, major military spenders in the region, such as China, India, Saudi Arabia, Japan and Taiwan, have significantly boosted their defense budgets.

As Statista's Tristan Gaudiat details below, China remains the region's top spender: according to SIPRI estimates, its military budget has grown by more than 20 percent between 2020 and 2024, reaching around 320 billion dollars (constant 2023 prices and exchange rates). Chinese military expenditure is driven by the country's armed forces modernization and territorial ambitions.

You will find more infographics at Statista

India, facing border disputes and maritime challenges, has increased its spending by 8 percent over the same period. Prioritizing technological advancement and self-reliance, the Indian army's budget reached 84 billion dollars in 2024.

Just behind, with a budget of 79 billion dollars, Saudi Arabia has increased its spending by 13 percent since 2020, amid growing instability in the Middle East.

Meanwhile, in East Asia, Japan has accelerated defense investments by over 40 percent between 2020 and 2024. Its military budget, 58 billion dollars, now surpasses that of its Western neighbor, South Korea (48 billion dollars in 2024, +4 percent from 2020), amid North Korea's missile threats and China's military assertiveness.

Taiwan, under constant pressure from Beijing, saw a 37 percent increase over the last five years on record, focusing on asymmetric defense capabilities.

Tyler Durden Thu, 01/08/2026 - 05:45

Bus Drivers Arrested For Earning Up To €50k-A-Year Cash Transporting Illegals Between France And Spain

Authored by Thomas Brooke via Remix News,

Spanish police have arrested 15 international bus drivers in Barcelona, accused of transporting illegal migrants between France and Spain in exchange for cash, exploiting their access to regular cross-border routes, according to reports by El País.

The Spanish National Police said the drivers used their positions on international services, particularly the Paris–Barcelona route, to bring “undocumented or visa-less foreigners into the country in exchange for money,” describing the scheme as “a new type of illicit human trafficking in the international land transport sector,” as reported by Le Parisien.

Migrants paid between €20 and €400 to travel without identity documents, without a valid ticket, or using tickets issued in someone else’s name, and bus drivers received payment to turn a blind eye.

According to the police statement, the drivers coordinated with intermediaries operating in bus stations and outside transport companies, who arranged payments and ensured migrants were allowed to board vehicles. Those arrested are being prosecuted on charges of aiding and abetting illegal immigration.

The investigation began in March 2025 and uncovered a network involving not only drivers but also auxiliary staff linked to private transport companies. Police said those involved “took advantage of their access to European routes” to facilitate the irregular movement of migrants between Spain and France, earning some drivers as much as €50,000 per year.

Investigators also identified recruiters operating outside transport companies who negotiated payments with drivers and helped migrants board buses using false, manipulated, or no documents at all.

The operation was carried out in cooperation with French authorities, with police checks conducted in La Jonquera, Irún, Madrid, Barcelona, and Murcia.

The dispersal across Europe of migrants residing in Catalonia will be cause for concern to many, in light of recent reports detailing no-go zones for police officers in the region.

In September last year, Torelló, a town in the Osona region of Catalonia, faced growing insecurity after a leaked recording revealed local police officers acknowledging they are unable to control violent migrant groups gathering in certain areas, and have been laughed at and forced to retreat from dispatch calls.

The audio, verified by authorities and reported by ElCaso.cat, captured an officer telling a resident that police cannot act against migrant rioters due to insufficient resources.

“They are laughing at us,” the officer said in the call. “They are throwing us out. If we don’t want to get hurt, we too [must leave],” he added, describing how officers had to withdraw after being met with hostility.

While net migration to Spain and its islands was down last year, according to Frontex, huge numbers have already crossed and are now contributing to integration concerns. Despite numbers being down, Spain’s socialist government remains committed to importing newcomers.

In September, it began the gradual transfer of more than 600 Moroccan minors from the North African enclave of Ceuta to different regions on the mainland.

The decision has reignited debate in Madrid over how to manage unaccompanied minors entering the country, as new figures revealed just 41 of the nearly 30,000 minor arrivals since 2018 have been repatriated.

With an increase in internal illegal migration routes within the European Union itself, keeping tabs on new arrivals will become increasingly more problematic.

Read more here...

Tyler Durden Thu, 01/08/2026 - 05:00

US To Withdraw From 66 International Bodies, Treaties

The Trump administration withdrew the United States from 66 international organizations, conventions, and treaties that it said go against the country’s interests, the White House announced on Jan. 7.

According to the presidential memorandum, 31 entities were tied to the United Nations, while 35 others were not.

“The Trump Administration has found these institutions to be redundant in their scope, mismanaged, unnecessary, wasteful, poorly run, captured by the interests of actors advancing their own agendas contrary to our own, or a threat to our nation’s sovereignty, freedoms, and general prosperity,” Secretary of State Marco Rubio wrote in a statement shortly after the list was revealed.

“President [Donald] Trump is clear: It is no longer acceptable to be sending these institutions the blood, sweat, and treasure of the American people, with little to nothing to show for it. The days of billions of dollars in taxpayer money flowing to foreign interests at the expense of our people are over.”

As Jacki Thrapp reports for The Epoch Times,The State Department was ordered to review the international intergovernmental organizations that “no longer serve American interests” in February 2025, per an executive order ​signed by President Donald Trump.

Rubio accused many entities of being “often dominated by progressive ideology and detached from national interests.”

“From DEI mandates to ‘gender equity’ campaigns to climate orthodoxy, many international organizations now serve a globalist project rooted in the discredited fantasy of the ‘End of History.’

“These organizations actively seek to constrain American sovereignty. Their work is advanced by the same elite networks—the multilateral ‘NGO-plex’—that we have begun dismantling through the closure of [the United States Agency for International Development].”

The U.N.-related entities that the Trump administration withdrew from include the Department of Economic and Social Affairs, International Law Commission, International Trade Centre, Peacebuilding Commission, Peacebuilding Fund, U.N. Democracy Fund, U.N. Energy, U.N. Entity for Gender Equality and the Empowerment of Women, and U.N. University.

The non-U.N. organizations included the 24/7 Carbon-Free Energy Compact and the Commission for Environmental Cooperation.

The memorandum cited over two dozen “hybrid threats,” such as the Forum of European National Highway Research Laboratories and the Global Community Engagement and Resilience Fund.

Wednesday’s memorandum came less than a year after Trump withdrew the United States from the UN Human Rights Council.

On Feb. 4, 2025, the same day the White House assigned Rubio to investigate the international organizations, Trump signed an executive order exiting from the U.N. Human Rights Council. At the time, Trump said it “has not fulfilled its purpose and continues to be used as a protective body for countries committing horrific human rights violations.”

The White House expanded on those issues, such as allowing China and Iran to be in the council despite their violations, and alleged there was bias against Israel.

Tyler Durden Thu, 01/08/2026 - 04:15

How Chinese-Made Radar Defense Systems Failed In Venezuela

Authored by Sean Tseng via The Epoch Times (emphasis ours),

U.S. forces stormed into Venezuela before dawn on Jan. 3 and captured Venezuelan leader Nicolás Maduro and his wife, Cilia Flores, in a lightning operation that punched in and out of Caracas before its air defenses could mount an effective response.

Illustration by The Epoch Times, Imaginechina/Alamy, public domain, Freepik, The White House

The operation resulted in no U.S. fatalities and no loss of U.S. military equipment, U.S. officials said.

The U.S. mission—code-named Operation Absolute Resolve—has quickly become more than a political shockwave. Analysts have said it was also a real-world test of U.S. military power against a country that has spent years buying Chinese- and Russian-made air-defense systems and showcasing them as proof that it could deter Washington.

The raid raised uncomfortable questions for Beijing about the limits of the Chinese-supplied systems that Venezuela has leaned on—especially “anti-stealth” radar that China advertised as capable of spotting and stopping U.S. stealth aircraft, a military analyst said.

The analyst told The Epoch Times that the most damaging takeaway for China isn’t the failure of a single piece of equipment—it’s what the operation suggested about deeper weaknesses: corruption in China’s defense industry and lack of reliability of the technology and command structure meant to tie those systems together.

“A system built to look modern on paper and intimidating in propaganda falls apart under the demands of real combat,” said Yu Tsung-chi, a retired major general from Taiwan and former president of the Political Warfare College at Taiwan’s National Defense University.

He said Beijing’s performance claims often lean more on messaging than combat validation.

China condemned the capture of Maduro and accused Washington of acting as a “world judge,” in a blunt response that underscored how closely Beijing saw the fallout tied to its influence and credibility in Latin America.

Operation Measured in Hours

President Donald Trump ordered the operation at 10:46 p.m. ET on Jan. 2, Chairman of the Joint Chiefs of Staff Gen. Dan Caine said.

Aircraft launched from about 20 land and sea bases across the Western Hemisphere, and the helicopter force approached Venezuela at roughly 100 feet above the water to maintain the element of surprise.

Within five hours, by 3:29 a.m. ET, U.S. forces had Maduro and Flores aboard the USS Iwo Jima, an amphibious assault ship. They were then flown to the United States.

This illustration depicts Caracas and the states in which the Venezuelan regime said U.S. military strikes occurred before the capture of Venezuelan leader Nicolás Maduro and his wife on Jan. 3, 2025. Anika Arora Seth, Phil Holm via AP(Left) The Fuerte Tiuna neighborhood of Caracas, Venezuela, on Dec. 22, 2025. (Right) The same neighborhood after U.S. strikes on Jan. 3, 2026. U.S. forces carried out a pre-dawn raid in Caracas, capturing Venezuelan leader Nicolás Maduro and his wife, Cilia Flores, and flying them to the United States to face federal charges. ©2026 Vantor via AP

U.S. officials said the operation involved more than 150 aircraft along with integrated electronic attack and nonkinetic effects from U.S. Cyber Command, Space Command, and other assets to suppress Venezuelan defenses and clear a path for the helicopters.

Briefings described a layered effects approach: bombers, fighters, surveillance and reconnaissance aircraft, electronic warfare jets, and drones overhead; space and cyber support to disrupt Venezuelan systems; and strikes intended to dismantle and disable air defenses as helicopters closed on Caracas.

According to officials, aircraft used in the operation included B-1B bombers, F-22 Raptors, F-35 Lightning II fighters, EA-18G Growler electronic attack jets, E-2 Hawkeye early warning aircraft, and numerous drones alongside transport and helicopter assets.

(Top Left) A B-1B Lancer flies over the Pacific Ocean during a Bomber Task Force mission on June 20, 2022. (Top Right) Royal Australian Air Force (RAAF) F-35A Lightning IIs receive fuel from a RAAF KC-30A Multi-Role Tanker Transport over Australia during Talisman Sabre 23 on July 23, 2023. (Bottom Left) An RAAF EA-18G Growler takes off from Amberley, Australia, for a mission during Red Flag 23-1 at Nellis Air Force Base, Nev., on Jan. 24, 2023. (Bottom Right) An E-2C Hawkeye assigned to the Greyhawks of Carrier Airborne Early Warning Squadron (VAW) 120 flies over Jacksonville, Fla., in this file image. Master Sgt. Nicholas Priest/U.S. Air Force; Tech. Sgt. Eric Summers Jr./CC-PD-Mark; William R. Lewis/U.S. Air Force/Public Domain; Lt. j.g. John A. Ivancic/U.S. Navy China’s Systems

For years, Venezuela has spent heavily on Chinese and Russian equipment while claiming that it was building one of the region’s most modern defense systems.

In recent months, reports have highlighted Venezuela’s installation of Chinese-made JY-27A radar units, marketed as able to detect “low-observable” aircraft—exactly the kind of system meant to complicate U.S. operations involving stealth platforms.

That promise did not hold on Jan. 3.

Yu said neither Chinese nor Russian air-defense systems “made the slightest bit of difference” once the United States brought real-time intelligence, electronic warfare, and precision weapons to bear.

The real contest, he said, wasn’t just radar range or missile specs, but a fast chain of detection, communications, decision-making, and joint execution—exactly where weaker militaries tend to break.

Beyond radar, Venezuela has also displayed and fielded Chinese-made ground systems that Beijing has marketed abroad—from VN-16 amphibious assault vehicles and VN-18 infantry fighting vehicles to Chinese rocket artillery systems.

Venezuelan parades in recent years have showcased those platforms as symbols of a growing partnership and a tougher military posture.

But Yu said glossy displays don’t matter much if the wider network—sensors, communications, command, training, and logistics—can’t hold up under pressure.

A view of telecommunications antennas in El Volcan in Caracas, Venezuela, on Jan. 5, 2026. El Volcan was one of the first points of attack during the Jan. 3 capture of Venezuelan leader Nicolás Maduro by U.S. forces. Carlos Becerra/Getty Images Parades Versus Combat Reality

Yu said the U.S. raid on Caracas exposed the limits of China’s propaganda-first military culture—one that rewards polished demonstrations more than hard, repeated combat validation.

He said the People’s Liberation Army (PLA) has not fought a major war since 1979, and it studies foreign conflicts in part because it lacks large-scale, recent battlefield feedback of its own.

“You can look perfectly aligned and advanced on a parade ground,” Yu said, “but without real combat to back it up, it’s all just stage effects.”

Read the rest here...

Tyler Durden Thu, 01/08/2026 - 03:30

Hungary Won't Leave The EU, It Will Fall Apart On Its Own, Orbán Says

Hungarian Prime Minister Viktor Orbán said that Hungary would not leave the European Union, which instead would "fall apart on its own" due to "leadership chaos" and said Brussels aimed to cut Hungary off from Russian energy supplies during a press conference on Monday. 

As EuroNews reports, Orbán rejected the possibility of Hungary leaving the EU, saying the country lacked the size to make such a decision sensible. However, he stressed Hungary's future lay within the bloc and NATO but with "a sovereign foreign policy and economic policy". He said: "EU membership is an important opportunity, but if we were to get stuck in this single bloc, we would drink the juice. It makes sense to have the best possible relations with all blocs, including America, Russia, China, the Arab world and the Turkish world."

Orbán has clashed repeatedly with Brussels over rule of law concerns, blocked EU support to Ukraine and maintained ties with Moscow despite all his European peers blacklisting Putin. In return, the EU has withheld billions of euros in funding for what it claims is "democratic backsliding" in Hungary.

On energy policy, Orbán said Brussels aimed to cut Hungary off from Russian oil and gas supplies. He said the government was defending itself through legal action against the European Commission while politically opposing EU regulations, hoping sanctions would be lifted by 2027, when the war ends.

Hungary has secured exemptions from EU sanctions on Russian energy and remains heavily dependent on Russian oil and gas.

Orbán said US President Donald Trump's seizure of Venezuela's Nicolas Maduro marked a new era in international politics, claiming the operation could allow the US to control up to half the world's oil reserves.

He told reporters that 2025 had been "a very eventful year" and Trump's inauguration "gave the coup de grace" to what he called the "liberal world order". He said the new era is "the era of nations" and described himself as a harbinger of this shift since 2010.

On Venezuela, Orbán said the US military operation represented "a powerful manifestation of the new world".

"Together with Venezuela, the United States can control 40-50% of the world's oil reserves, a force capable of significantly influencing the price of energy on the world market." He added that this could benefit Hungary by creating cheaper global energy prices.

Orbán has cultivated close ties with Trump and is one of the few European leaders to openly support the US military action in Venezuela, which most EU member states have criticised as violating international law.

Orbán said Hungary would not provide financial support to Ukraine, stating, "We have money if we don't give it to others, so we are not giving our money to Ukraine."

"We are not giving them a loan either, because everyone knows that the Ukrainians will not pay it back," he added.

Hungary has been the primary obstacle to EU military and financial support for Ukraine since Russia's full-scale invasion in early 2022, forcing the 27-member bloc to find workarounds to bypass Budapest's vetoes.

On migration, Orbán said Hungary would not accept Brussels dictating "who we should live with", rejecting an EU regulation due in June requiring member states to admit 350 people and process over 20,000 applications.

Hungary has refused to participate in EU asylum schemes and built border fences to keep out migrants, leading to ongoing legal battles and trading barbs with Brussels.

Asked about a reported financial agreement with Trump, Orbán confirmed: "I asked for it, we agreed that there would be one."

Trump denied Orbán's previous claims about such an agreement, telling Politico in November: "I didn't promise him anything like that, but he asked me very much."

Meanwhile, the Hungarian PM said details of the "defense shield" were still being worked out, adding Hungary has needed "some kind of protective shield" since World War I and "cannot rely on Brussels".

Orbán said he would not debate Tisza party leader Péter Magyar in the April elections, claiming he could only debate with "sovereign people" and that "those who have masters abroad are not sovereign". He said his ruling party, Fidesz, aimed to repeat its 2022 election result.

Magyar and his party have surged in polls and pose the most substantial electoral challenge to Orbán's rule in two and a half decades. Orbán has governed Hungary since 2010 and is the EU's longest-serving leader among the current heads of state.

Tyler Durden Thu, 01/08/2026 - 02:45

Germany's Deindustrialization: Capital Flight, Green Policy, And The Point Of No Return

Submitted by Thomas Kolbe

The German Chamber of Industry and Commerce (DIHK) sees the German economy in a prolonged phase of deindustrialization. Together with the Federation of German Industries (BDI), the chamber reiterates calls for far-reaching reforms to boost growth and investment. Yet both associations still shy away from touching the golden calf of the green transformation.

Germany’s economic crisis continues into the new year without interruption. A survey conducted by the DIHK among 23,000 member companies found that only one in six firms expects an economic upswing in 2026.

Twenty-five percent of companies are planning further job cuts, and only one third intend to make growth investments. For DIHK President Helena Melnikov, the situation is dramatic. If policymakers fail to act decisively, Germany faces a further massive loss of value creation and jobs, Melnikov warns. As before, the DIHK locates the core of the economic decline in German industry. According to chamber calculations, the sector has shed around 400,000 jobs since 2019.

This weighs particularly heavily because these positions are typically well-paid and highly skilled. Their value creation reverberates throughout Germany’s economic structure—among industry-related services, regional trade, and ultimately public finances.

As a result, municipal treasurers in industrial crisis hubs are increasingly confronted with insoluble challenges amid growing budget deficits. In cities such as Stuttgart, Erlangen, Wolfsburg, and elsewhere, business tax revenues are now visibly shrinking.

Reality Denied

Existing reforms are failing to reach companies, Melnikov warns, pointing to high labor and energy costs. The BDI likewise called 2026 a “year of reforms” in comments to Reuters.

All of this is correct. And yet the question remains why leading figures of German business still lack the courage to openly criticize government policy and finally bury the visibly failed project of greening German society.

We are witnessing a monumental failure of the economic elite—if it can even still be called that. The deindustrialization diagnosed by Melnikov is simply denied by large parts of the mainstream press as well as by policymakers. And yet the numbers speak clearly.

It is not yet fully clear how large capital outflows were last year. In 2024, net direct investment outflows amounted to €64.5 billion; in 2023 they exceeded €100 billion. Previous years were likewise marked by sustained capital flight.

Those who can are heading for the exits—fleeing green regulatory policy, high fiscal burdens, and the economic devastation inflicted on companies by Germany’s energy transition.

Calls for sweeping reductions in bureaucracy also naturally feature on the list of location weaknesses. A perennial political evergreen—and a hollow demand in light of the massively increased pace of state intervention. The state will have to create tens of thousands of new public-sector jobs, at its development banks such as KfW and the state banks, in order to weave the flood of cheap credit into the arteries of the economy.

On massive state intervention, business prefers to remain silent. Companies take what they can get. There is no talk of criticizing market distortions or the systematic crowding-out of the private sector from capital markets by the state.

For the current year, the DIHK expects officially reported GDP growth of 0.7 percent. However, this figure includes net new public borrowing—including special funds—of around 5.5 percent, with a state share exceeding 50 percent of GDP. The private sector, by contrast, is likely to shrink by roughly four percent.

Political room for maneuver is narrowing. Flight to the capital markets appears to be the last remaining way to buy time and maintain the illusion of social and economic stability through ever new subsidy programs.

Location Patriotism Meets Reality

And before the first patriotic crocodile tears are shed: every plant manager, CEO, capital-rich fund, individual investor, and family office will have carefully weighed its judgment on the destructive political framework conditions in Germany and the EU—and will not turn away from the location without reason.

Insisting on location patriotism, after decades of deliberate erosion of patriotic sentiment, German traditions, and culture by the political apparatus and its associated media empire, is at best infantilizing—more bluntly put: cynical.

Federal Chancellor Friedrich Merz and his finance minister Lars Klingbeil, for their part, have not hesitated in the past to play the patriotism card more or less openly when it came to the accelerating departure of German companies.

In October, Klingbeil, in a display of helplessness, publicly called on business at the IGBC trade union congress in Hanover to commit to the location and safeguard jobs.

A cheap media stunt, as Klingbeil is fully aware that energy-intensive production can no longer be defended at the German location, and that the policy of green transformation deliberately and systematically pushes industrial production abroad—or increasingly into insolvency.

The narrative of a lack of loyalty to the location is now firmly established. It shows that politics has already identified its scapegoats—entrepreneurs and investors who are to be publicly blamed for the country’s economic decline. They are henceforth portrayed as irresponsible profiteers abandoning employees, society, and the community in the pursuit of supposed profit maximization.

The depth of the ongoing recession and the now unmistakable deindustrialization of the country make it increasingly likely, week by week, that a point of no return—an economic tipping point—has already been crossed.

German society is therefore left with essentially two options. Either it falls for the rhetorical tricks of the central planners around Friedrich Merz and Lars Klingbeil, accepts further nationalization and the construction of centrally planned artificial economies such as a war economy or a leaden eco-industry. Or it eventually broadens its horizon, returns to the principles of the free market economy, and accepts the social pain that any genuine transformation for the better must necessarily entail at the outset.

* * * 

About the author: Thomas Kolbe, born in 1978 in Neuss/ Germany, is a graduate economist. For over 25 years, he has worked as a journalist and media producer for clients from various industries and business associations. As a publicist, he focuses on economic processes and observes geopolitical events from the perspective of the capital markets. His publications follow a philosophy that focuses on the individual and their right to self-determination.

Tyler Durden Thu, 01/08/2026 - 02:00

Waste Of The Day: Grants For Winter Heating Bills Are Missing

Authored by Jeremy Portnoy via RealClearInvestigations,

Topline: The nonprofit New Opportunities, Inc. used $2.8 million in taxpayer funds meant for low-income families’ heating bills on its own operating expenses, according to the Connecticut Office of Policy and Management.

In a Dec. 22 letter obtained by CT Insider, CT Mirror and more, OPM Secretary Joshua Wojcik claims New Opportunities admitted to “impermissibly” using grant funds "to provide fiscal support for other organizational operations."

Key facts: New Opportunities was founded in 1964 and now helps administer Connecticut’s federally funded Energy Assistance Program, which helps families earning 60% or less of the state median income pay their heating bills over the winter. 

The federal Administration for Children and Families, part of the U.S. Department of Health and Human Services, gives grant funding to Connecticut, which in turn sends it to nonprofits like New Opportunities. The nonprofits then pay energy companies to deliver oil, natural gas or another heat source to low-income families.

According to Wojcik’s letter, New Opportunities recently sent three checks worth $2.8 million to the energy company Eversource to pay for natural gas. The checks bounced when Eversource tried to cash them because New Opportunities had already used the grant money for unrelated expenses, and there were not enough funds left in its account. That is a violation of state and federal contracting rules, according to CT Mirror.

New Opportunities later paid Eversource $1.2 million of the balance, but $1.6 million was still missing as of Dec. 22.

Connecticut’s Department of Social Services barred New Opportunities from the Energy Assistance Program in the towns of Waterbury, Meriden and Torrington, CT Mirror reported. Wojcick also plans to appoint a representative to oversee all of New Opportunities’ spending and fire any board member who fails to “ensure that State or Federal funding was used for their intended purposes,” according to his letter.

Background: New Opportunities is almost entirely taxpayer-funded. It received $38.8 million in government grants in fiscal year 2024 from Connecticut, the U.S. Department of Agriculture and more, but only $995,000 from private grants and $1,700 from fundraising events, according to its most recent 990 tax form.

The nonprofit operated at a deficit of $1.6 million that year, according to an independent audit reviewed by the CT Mirror, which found there is “substantial doubt” about the nonprofit’s ability to remain solvent. 

President and CEO William Rybczyk still collected a $267,000 salary, part of over $12 million spent on payroll and benefits, the 990 form shows. Former President James Gatling, who retired in 2021, still earned over $100,000 in fiscal year 2024. 

Office expenses cost $480,000, and employee travel cost $427,000. The nonprofit runs food production and early childhood education programs in addition to its energy assistance program.

In fiscal year 2025, the nonprofit accepted $26.4 million from the State of Connecticut, according to records obtained by Open the Books.

Summary: The federal government has already approved $3.7 billion for Energy Assistance Programs around the country in 2026. As always, it’s vital that the government tracks every penny to ensure it reaches the families it’s intended for.

The #WasteOfTheDay is brought to you by the forensic auditors at OpenTheBooks.com

Tyler Durden Wed, 01/07/2026 - 23:20

Zelensky Calls On Trump To Topple Chechen Leader After Maduro

Suddenly everyone wants to enter the regime change business, as various country names and 'rogue' leaders are now being casually thrown around in conversations of "who's next" for Trump to take out.

Ukrainian President Volodymyr Zelensky has joined in. He's now urging the United States to pressure Russia by "carrying out some sort of operation" against Chechen head Ramzan Kadyrov (and staunch Putin-ally) from power.

Source: Ramzan Kadyrov/Telegram

Zelensky drew direct comparisons with Trump overthrowing Venezuelan leader Nicolás Maduro. According to the quite provocative Wednesday comments, Zelensky said that removing Kadyrov would make Russian President Vladimir Putin "think twice" about keeping the war in Ukraine going.

"They need to put pressure on Russia. They have the tools, they know how. And when they really want to, they can find them," Zelensky said of the US under Trump.

"Here's an example with Maduro. They carried out an operation... Everyone can see the result, the whole world can see. They did it promptly. Let them carry out some sort of operation with, what's his name - Kadyrov," Zelensky said.

Earlier, Zelensky went so far as to "joke" that Putin himself should also be targeted in a Washington decapitation operation.

"If you can do that with dictators, then the United States knows what to do next," he said at a presser from his capital over the weekend, while laughing and smiling.

Such rhetoric, especially if it persists, could make Russia do some decapitation strikes of its own. Its forces have increasingly been targeting Kiev with missiles and drones, and even recently struck government buildings, and not far from Zelensky's presidential offices.

As for the Chechen issue, hundreds of thousands of troops from Russia's Muslim-majority republic of Chechnya have been fighting in Ukraine.

Meanwhile, a counter-threat...

Kadyrov: If the order is given, Zelensky and his cronies will end up in Grozny even faster than Maduro ended up in the U.S. pic.twitter.com/x3L7UIoUob

— Polymarket Intel (@PolymarketIntel) January 5, 2026

Kadyrov has ruled there since 2007, and has throughout the Ukraine conflict remained among Putin's most vocal supporters.

He has been not infrequently photographed with Putin, and large contingency of Chechen troops have held pro-Kremlin parades and displays of military power of late.

Tyler Durden Wed, 01/07/2026 - 22:45

Silver Will Remind Us: We Are Deeply Dependent On The Earth

Authored by Mollie Engelhart via The Epoch Times (emphasis ours),

Commentary

We live in a world that has engineered distance between us and the physical limits our ancestors once lived inside of. The constraints that shaped generations before us—weather, harvest, transport, salt, fuel, season, strength, distance, labor, time—have been replaced by one dominant modern restraint: money.

Silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, on Jan. 10, 2025. Angelika Warmuth/Reuters

Money has become our proxy for limits, the translation layer between desire and reality. But somewhere along the way, we started believing the translation was the terrain. Constraints didn’t disappear—we outsourced them to systems so efficient we stopped noticing their fragility at all.

My husband grew up in a town with no road connecting it to the outside world. When his family wanted to slaughter a pig, they didn’t reach for salt in a pantry. They first rode horses to the salt flats, mined the salt by hand, carried it home, and then began curing the meat. Their survival depended on terrain, season, muscle, and community. Nothing was guaranteed. Everything required presence.

Here in the United States, scarcity is rarely part of our daily friction anymore, so we forget to respect its possibility at all.

But silver is reminding us now.

Not a Price Rally—A Resource Alarm

The world is treating silver like a financial headline. Analysts debate whether it will hit $45 or $125 an ounce in 2026. But the real story isn’t about price movements; it’s about access to metal that physically exists.

Silver is not just money—it is matter, manufacturing, and infrastructure.

Unlike dollars, you can’t print more silver when you need it. Unlike gold, silver is consumed at an industrial scale because it is required for the defining industries of our time:

• Solar panels

• Electric vehicles

• Semiconductors

• Advanced electronics

• Artificial intelligence (AI) data centers

• Critical defense systems

You can build a financial system with paper promises, but you cannot build the future’s physical economy without metal.

China’s Jan. 1 Licensing Regime

On Jan. 1, 2026, China activated a licensing structure that authorizes only 44 domestic companies to export silver. This mirrors the same strategic resource playbook China previously used for rare-earth metals:

• Restrict exports

• Consolidate control into state-aligned entities

• Prioritize domestic supply

• Control refined production rather than raw extraction

This isn’t a supply hiccup—it is mineral nationalism.

And refined silver—the form required for manufacturing—is now subject to state gatekeeping.

Inventories Reveal Reality

In late December 2025, physical silver on the Shanghai Gold Exchange traded at a record premium to U.S. paper futures. Normally, arbitrage would close that spread quickly.

It didn’t.

Because physical metal is tightening, it is no longer moving freely.

Shanghai inventories have dropped to levels not seen in a decade. London vault holdings are down dramatically from pandemic highs. Futures have entered backwardation—buyers paying more for metal now than later. Lease rates have surged, signaling institutions scrambling for metal they cannot easily source.

And here is the key truth: Paper markets for silver now dramatically exceed the supply of physical metal available.

That imbalance works—until someone demands delivery.

And industry will always demand delivery.

Dec. 26 Was Containment, Not Correction

When silver’s paper price dipped on Dec. 26, 2025, it wasn’t profit-taking. It was a forced liquidation event triggered by emergency margin hikes after large holders claimed registered inventory. It was not a market correction; it was containment.

Because here is the truth markets keep avoiding: You can cash-settle a contract. You cannot cash-settle a solar panel, a semiconductor, or a microchip.

Industry needs atoms, not arguments.

We Live Inside Physics, Not Policy

We are addicted to having everything we want the moment we want it. We think politicians can sign papers and declare that every grid will be electric by 2030, as if energy is summoned by legislation rather than mined, manufactured, transported, stored, and built from finite materials.

But the Earth does not negotiate with impatience.

Policy does not override physics.

Technology does not run on forecasts.

It runs on resources.

And silver is the resource tightening fastest.

How Will We Receive the Reminder?

The math is obvious.

In 2026, we will discover what was real all along.

The Earth we are all connected to is physical, finite, and unshakably real, no matter how much of life we now operate from our phones, over Zoom, or through AI.

The minerals beneath our feet are real.

The land that feeds us is real.

The planet that provides everything we build, eat, power, and depend on is real.

The question is not whether the physical world will remind us of its terms—but how we choose to receive the message when it arrives.

As I watch the signs of this tightening, I will remember what is real:

My family.

My husband.

My land.

My friends.

My community.

My skills.

And my ability to lead.

Sure, we can all generate clicks, comments, and interactions in the increasingly digital world we now spend more time inside of. But when the rubber hits the road, we are deeply interconnected with the Earth.

The homes we live in came from nature. The food we eat comes from nature. The energy grid, the cars we drive, the metals in our phones, the data centers powering AI—all of it depends on this extraordinary planet and what it provides.

It’s easy to forget that. It’s easy to act as if we live inside boxes, disconnected from the natural world.

But those boxes came from nature itself.

And it would serve us well to remember.

Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

Tyler Durden Wed, 01/07/2026 - 22:10

U-Haul Growth Index: Newsom's California Dead Last For Six Straight Years

Moving company U-Haul has released its annual migration ranking, which continues to show a sustained outflow from high-tax, crime-ridden, Democrat-run states toward lower-tax states where law and order are cherished.

Right off the bat, the report's authors note that "Florida ranks 2nd for net gain of one-way customers; California last for sixth year in a row."

U-Haul just released its annual "Growth Index" for all 50 states. For the 6th straight year, California is ranked 50th. We have the highest rate of people moving out versus moving in.

Newsom has turned the greatest state in the country into the most popular state to leave.

— Kevin Kiley (@KevinKileyCA) January 6, 2026

The U-Haul Growth Index compares one-way truck and trailer rentals into a state versus out of a state, allowing researchers to calculate net migration, which reflects relocation trends nationwide.

This real-time tracker shows that Texas reclaimed the title of the No. 1 growth state for the seventh time in a decade. Florida ranked No. 2, followed by North Carolina at No. 3, Tennessee at No. 4, and South Carolina at No. 5. The common denominator among these states is that politicians are considered more based and grounded in reality than the far-left activists running blue states into the ground (cough, cough Tim Walz).

Conversely, the behavior-based migration indicator shows that blue states such as California ranked dead last - in other words, more people left than arrived. Illinois, New Jersey, New York, Massachusetts, and Maryland also landed at the bottom of the list. The common denominator among these states is that their political leadership focuses on being left-wing activists rather than proper stewardship of their respective states.

"Blue-to-red state migration, a hotly debated political topic that became more pronounced after the pandemic of 2020, continues to be a discernable trend," U-Haul wrote in the report.

Tyler Durden Wed, 01/07/2026 - 21:35

Wyoming Supreme Court Rules Abortion May Stay Legal Due To Obamacare Amendment

Authored by Arjun Singh via The Epoch Times (emphasis ours),

The Supreme Court of Wyoming, on Jan. 6, ruled that two state laws banning the procedure and the availability of abortion medication were unconstitutional.

A patient prepares to take a pill for a medication abortion during a visit to a clinic in Kansas City, Kansas, on, Oct. 12, 2022. Charlie Riedel/AP Photo

The court, in the case of State v. Johnson, held that the two laws in question—the Life is a Human Right Act of 2023, which bans abortion procedures, and the state’s abortion drug ban—violated Article 1, Section 38 of the Constitution of Wyoming. That provision of the state constitution was added by a statewide referendum in 2012, which states, “Each competent adult shall have the right to make his or her own health care decisions.”

“All five Wyoming Supreme Court justices agreed that the decision whether to terminate or continue a pregnancy is a woman’s own health care decision protected by Article 1, Section 38,” wrote the court in a summary of its opinion and announcement of the decision.

The court added that “all five justices also concluded that an adult’s right to make his or her own health care decisions is a fundamental right because of the very specific language used,” even though the referendum was passed in response to the Patient Protection and Affordable Care Act, known more commonly as “Obamacare.”

The court, however, split four to one on deciding whether the laws in question could be struck down.

“Four justices (Boomgaarden, Fox, Jarosh, and Fenn) voted to strike down the 2023 abortion laws. Justice Gray voted to uphold the laws,” the court’s summary read.

The court noted that even though Article 1, Section 38 was passed in response to Obamacare, the language of the provision was inflexible, writing, “The Court recognized it cannot add words to the Wyoming Constitution. ... But lawmakers could ask Wyoming voters to consider a constitutional amendment that would more clearly address this issue.”

Lower courts, when reviewing the case, also struck down the laws.

Wyoming is a heavily conservative state that is dominated by the Republican Party, and pro-life sentiment is widespread. Following the ruling, Governor of Wyoming Mark Gordon called for a referendum to amend the constitution and invalidate the ruling.

“This ruling may settle, for now, a legal question, but it does not settle the moral one, nor does it reflect where many Wyoming citizens stand, including myself. It is time for this issue to go before the people for a vote,” Gordon wrote in a statement published on social media. “I call on the legislature to pass and place a clear constitutional amendment on my desk.”

The lead plaintiff in the case, Wellspring Health Access in Casper, Wyoming, celebrated the ruling.

“Our clinic will remain open and ready to provide compassionate reproductive health care, including abortions, and our patients in Wyoming will be able to obtain this care without having to travel out of state,” said Julie Burkhart, the organization’s president, in a statement.

The Associated Press contributed to this report.

Tyler Durden Wed, 01/07/2026 - 21:00