Today’s News 12th July 2024

• Value Of Norway's Oil Fund Soars To New High Of $1.7 Trillion
  Value Of Norway’s Oil Fund Soars To New High Of $1.7 Trillion

  By Charles Kennedy of OilPrice.com

  For the first time in its nearly three-decade history, Norway’s oil fund, the world’s largest sovereign wealth fund, has just exceeded the market value of 18 trillion Norwegian crowns, which equals $1.691 trillion as of Wednesday.

  

  Government Pension Fund Global, as the Norwegian fund is officially known, was created in the 1990s and the government started transferring revenues from Norway’s oil and gas industry into the fund in 1996.

  Since then, the fund has invested in equities and fixed income globally, raising its value with the returns.  

  In October 2019, the value of the fund exceeded 10 trillion Norwegian crowns and in May 2023, the fund’s market value topped the threshold of 15 trillion Norwegian crowns.  

  The weak Norwegian crown against the U.S. dollar has contributed somewhat to the new height of the fund’s value, but it is the equity investments in the U.S. stock market, in which the fund is heavily weighted, that have driven the record value, Nils Kristian Knudsen, an analyst at Handelsbanken, told Norwegian outlet FinansWatch.

  For the first quarter of 2024, the fund returned 1.21 trillion crowns ($113 billion), which was the highest quarterly return in absolute terms since the fund was set up in 1996.

  “Our equity investments had a very strong return in the first quarter, particularly driven by the tech sector,” Trond Grande, Deputy CEO of Norges Bank Investment Management, said in April, commenting on the fund’s performance in Q1.

  The Norwegian fund owns on average 1.5% of all listed companies globally. The equity investments – which account for 72.1% of the fund’s total investments – consist of ownership shares in about 9,000 companies worldwide. A total of 26% of the fund’s assets are invested in fixed income, 1.8% in unlisted real estate, and 0.1% in renewable energy infrastructure.

  The fund, which is commonly referred to as ‘Norway’s oil fund’ because it was created with oil and gas revenues, is a shareholder in many large companies in the world, including Big Oil, and has the power to influence other investors with its investment decisions.

  As of the end of 2023, they held stakes in 220 energy firms in 35 countries, representing 2.6% of all investments. The fund held 3.4% in BP, 2.88% in Shell, 2.42% in TotalEnergies, 1.35% in ExxonMobil, and 1% in Chevron.

  Tyler Durden
  Fri, 07/12/2024 – 02:00

• Project Total Control: Everything Is A Weapon When Totalitarianism Is Normalized
  Project Total Control: Everything Is A Weapon When Totalitarianism Is Normalized

  Authored by John & Nisha Whitehead via The Rutherford Institute,

  “The biggest mistake I see is people waiting for A Big Sign that’ll tell them that things have gone too far. One Big Thing that police or lawmakers or the president/leaders will do that will cross the line. It’ll never come because they won’t cross it. They’ll move the line. That line you think you stand behind is shifting everyday with little actions, bills, legislations… That line will stop moving one day, & it’ll be too late… Every day, your sensitivity is being eroded by these willful atrocities. The envelope for what you’ll accept is being pushed. One day, all of these things will be your new normal.”

  – Nigerian writer Suyi Davies Okungbowa

  The U.S. government is working to re-shape the country in the image of a totalitarian state.

  

  This has remained true over the past 50-plus years no matter which political party held office.

  This will remain true no matter who wins the 2024 presidential election.

  In the midst of the partisan furor over Project 2025, a 920-page roadmap for how to re-fashion the government to favor so-called conservative causes, both the Right and the Left have proven themselves woefully naive about the dangers posed by the power-hungry Deep State.

  Yet we must never lose sight of the fact that both the Right and the Left and their various operatives are extensions of the Deep State, which continues to wage psychological warfare on the American people.

  Psychological warfare, according to the Rand Corporation, “involves the planned use of propaganda and other psychological operations to influence the opinions, emotions, attitudes, and behavior of opposition groups.”

  For years now, the government has been bombarding the citizenry with propaganda campaigns and psychological operations aimed at keeping us compliant, easily controlled and supportive of the government’s various efforts abroad and domestically.

  The government is so confident in its Orwellian powers of manipulation that it’s taken to bragging about them. For example, in 2022, the U.S. Army’s 4th Psychological Operations Group, the branch of the military responsible for psychological warfare, released a recruiting video that touts its efforts to pull the strings, turn everything they touch into a weapon, be everywhere, deceive, persuade, change, influence, and inspire.

  “Have you ever wondered who’s pulling the strings?” the psyops video posits. “Anything we touch is a weapon. We can deceive, persuade, change, influence, inspire. We come in many forms. We are everywhere.”

  This is the danger that lurks in plain sight.

  Of the many weapons in the government’s vast arsenal, psychological warfare may be the most devastating in terms of the long-term consequences.

  As the military journal Task and Purpose explains, “Psychological warfare is all about influencing governments, people of power, and everyday citizens.”

  Mind you, these psyops (psychological operations) campaigns aren’t only aimed at foreign enemies. The government has made clear in word and deed that “we the people” are domestic enemies to be targeted, tracked, manipulated, micromanaged, surveilled, viewed as suspects, and treated as if our fundamental rights are mere privileges that can be easily discarded.

  This is what is referred to as “apple-pie propaganda.”

  Aided and abetted by technological advances and scientific experimentation, the government has been subjecting the American people to “apple-pie propaganda” for the better part of the last century.

  Consider some of the ways in which the government continues to wage psychological warfare on a largely unsuspecting citizenry in order to acclimate us to the Deep State’s totalitarian agenda.

  Weaponizing violence in order to institute martial law. With alarming regularity, the nation continues to be subjected to spates of violence that terrorizes the public, destabilizes the country’s ecosystem, and gives the government greater justifications to crack down, lock down, and institute even more authoritarian policies for the so-called sake of national security without many objections from the citizenry.

  Weaponizing surveillance, pre-crime and pre-thought campaigns. Surveillance, digital stalking and the data mining of the American people add up to a society in which there’s little room for indiscretions, imperfections, or acts of independence. When the government sees all and knows all and has an abundance of laws to render even the most seemingly upstanding citizen a criminal and lawbreaker, then the old adage that you’ve got nothing to worry about if you’ve got nothing to hide no longer applies. Add pre-crime programs into the mix with government agencies and corporations working in tandem to determine who is a potential danger and spin a sticky spider-web of threat assessments, behavioral sensing warnings, flagged “words,” and “suspicious” activity reports using automated eyes and ears, social media, behavior sensing software, and citizen spies, and you having the makings for a perfect dystopian nightmare. The government’s war on crime has now veered into the realm of social media and technological entrapment, with government agents adopting fake social media identities and AI-created profile pictures in order to surveil, target and capture potential suspects.

  Weaponizing digital currencies, social media scores and censorship. Tech giants, working with the government, have been meting out their own version of social justice by way of digital tyranny and corporate censorship, muzzling whomever they want, whenever they want, on whatever pretext they want in the absence of any real due process, review or appeal. Unfortunately, digital censorship is just the beginning. Digital currencies (which can be used as “a tool for government surveillance of citizens and control over their financial transactions”), combined with social media scores and surveillance capitalism create a litmus test to determine who is worthy enough to be part of society and punish individuals for moral lapses and social transgressions (and reward them for adhering to government-sanctioned behavior). In China, millions of individuals and businesses, blacklisted as “unworthy” based on social media credit scores that grade them based on whether they are “good” citizens, have been banned from accessing financial markets, buying real estate or travelling by air or train.

  Weaponizing compliance. Even the most well-intentioned government law or program can be—and has been—perverted, corrupted and used to advance illegitimate purposes once profit and power are added to the equation. The war on terror, the war on drugs, the war on COVID-19, the war on illegal immigration, asset forfeiture schemes, road safety schemes, school safety schemes, eminent domain: all of these programs started out as legitimate responses to pressing concerns and have since become weapons of compliance and control in the police state’s hands.

  Weaponizing entertainment. For the past century, the Department of Defense’s Entertainment Media Office has provided Hollywood with equipment, personnel and technical expertise at taxpayer expense. In exchange, the military industrial complex has gotten a starring role in such blockbusters as Top Gun and its rebooted sequel Top Gun: Maverick, which translates to free advertising for the war hawks, recruitment of foot soldiers for the military empire, patriotic fervor by the taxpayers who have to foot the bill for the nation’s endless wars, and Hollywood visionaries working to churn out dystopian thrillers that make the war machine appear relevant, heroic and necessary. As Elmer Davis, a CBS broadcaster who was appointed the head of the Office of War Information, observed, “The easiest way to inject a propaganda idea into most people’s minds is to let it go through the medium of an entertainment picture when they do not realize that they are being propagandized.”

  Weaponizing behavioral science and nudging. Apart from the overt dangers posed by a government that feels justified and empowered to spy on its people and use its ever-expanding arsenal of weapons and technology to monitor and control them, there’s also the covert dangers associated with a government empowered to use these same technologies to influence behaviors en masse and control the populace. In fact, it was President Obama who issued an executive order directing federal agencies to use “behavioral science” methods to minimize bureaucracy and influence the way people respond to government programs. It’s a short hop, skip and a jump from a behavioral program that tries to influence how people respond to paperwork to a government program that tries to shape the public’s views about other, more consequential matters. Thus, increasingly, governments around the world—including in the United States—are relying on “nudge units” to steer citizens in the direction the powers-that-be want them to go, while preserving the appearance of free will.

  Weaponizing desensitization campaigns aimed at lulling us into a false sense of security. The events of recent years—the invasive surveillance, the extremism reports, the civil unrest, the protests, the shootings, the bombings, the military exercises and active shooter drills, the lockdowns, the color-coded alerts and threat assessments, the fusion centers, the transformation of local police into extensions of the military, the distribution of military equipment and weapons to local police forces, the government databases containing the names of dissidents and potential troublemakers—have conspired to acclimate the populace to accept a police state willingly, even gratefully.

  Weaponizing politics. The language of fear is spoken effectively by politicians on both sides of the aisle, shouted by media pundits from their cable TV pulpits, marketed by corporations, and codified into bureaucratic laws that do little to make our lives safer or more secure. Fear, as history shows, is the method most often used by politicians to increase the power of government and control a populace, dividing the people into factions, and persuading them to see each other as the enemy. This Machiavellian scheme has so ensnared the nation that few Americans even realize they are being manipulated into adopting an “us” against “them” mindset. Instead, fueled with fear and loathing for phantom opponents, they agree to pour millions of dollars and resources into political elections, militarized police, spy technology and endless wars, hoping for a guarantee of safety that never comes. All the while, those in power—bought and paid for by lobbyists and corporations—move their costly agendas forward, and “we the suckers” get saddled with the tax bills and subjected to pat downs, police raids and round-the-clock surveillance.

  Weaponizing genetics. Not only does fear grease the wheels of the transition to fascism by cultivating fearful, controlled, pacified, cowed citizens, but it also embeds itself in our very DNA so that we pass on our fear and compliance to our offspring. It’s called epigenetic inheritance, the transmission through DNA of traumatic experiences. For example, neuroscientists observed that fear can travel through generations of mice DNA. As The Washington Post reports, “Studies on humans suggest that children and grandchildren may have felt the epigenetic impact of such traumatic events such as famine, the Holocaust and the Sept. 11, 2001, terrorist attacks.”

  Weaponizing the dystopian future. With greater frequency, the government has been issuing warnings about the dire need to prepare for the dystopian future that awaits us. For instance, the Pentagon training video, “Megacities: Urban Future, the Emerging Complexity,” predicts that by 2030 (coincidentally, the same year that society begins to achieve singularity with the metaverse) the military would be called on to use armed forces to solve future domestic political and social problems. What they’re really talking about is martial law, packaged as a well-meaning and overriding concern for the nation’s security. The chilling five-minute training video paints an ominous picture of the future bedeviled by “criminal networks,” “substandard infrastructure,” “religious and ethnic tensions,” “impoverishment, slums,” “open landfills, over-burdened sewers,” a “growing mass of unemployed,” and an urban landscape in which the prosperous economic elite must be protected from the impoverishment of the have nots. “We the people” are the have-nots.

  The end goal of these mind control campaigns—packaged in the guise of the greater good—is to see how far the American people will allow the government to go in undermining our freedoms.

  The facts speak for themselves.

  Whatever else it may be—a danger, a menace, a threat—the U.S. government is certainly not looking out for our best interests, nor is it in any way a friend to freedom.

  When the government views itself as superior to the citizenry, when it no longer operates for the benefit of the people, when the people are no longer able to peacefully reform their government, when government officials cease to act like public servants, when elected officials no longer represent the will of the people, when the government routinely violates the rights of the people and perpetrates more violence against the citizenry than the criminal class, when government spending is unaccountable and unaccounted for, when the judiciary act as courts of order rather than justice, and when the government is no longer bound by the laws of the Constitution, then you no longer have a government “of the people, by the people and for the people.”

  What we have, as I make clear in my book Battlefield America: The War on the American People and in its fictional counterpart The Erik Blair Diaries, is a government of wolves.

  Tyler Durden
  Thu, 07/11/2024 – 23:40

• People Are Now Setting Up Trusts To Last Hundreds Of Years So They Can Cryogenically Freeze Themselves
  People Are Now Setting Up Trusts To Last Hundreds Of Years So They Can Cryogenically Freeze Themselves

  It may be soon that the expression “you can’t take your money with you when you die” doesn’t ring as true as it used to.

  That’s because the wealthy are now employing estate attorneys who are helping them set up trusts they can tap into “hundreds of years” later for people who are considering attempting to cryogenically preserve themselves, a new Bloomberg article revealed this week. 

  Mark House, an estate lawyer, told Bloomberg: “The idea of cryopreservation has gone from crackpot to merely eccentric. Now that it’s eccentric, it’s kind of in vogue to be interested in it.”

  An estimated 5,500 people plan for cryogenic preservation, with House having worked with about 100 of them.

  Steve LeBel, a 76-year-old retired hospital executive from Michigan, sees joining the roughly 500 already preserved as a dream. An avid hobbyist and writer of young-adult fantasy novels, LeBel cherishes life and doesn’t want financial barriers to impede a second chance.

  

  Bloomberg writes that LeBel plans to place $100,000 in his revival trust, with the remainder going to his daughter, her husband, and his foundation.

  LeBel said: “I really want to figure out a solution, otherwise I’ll be in there with my fingers crossed, hoping there’s money left over, 200 years from now, to pay for the resurrection process.”

  Which leads to our question: when the hell is anyone going to teach Le Bel about the miracles of what inflation will do to that $100,000 over the course of hundreds of years? He’ll be lucky to buy a Snickers bar with it in 200 years. 

  The revival trust is a variation of the dynasty trust, typically used by the ultra-wealthy to pass wealth down generations. Both can help avoid the 40% federal estate tax on estates over $13.6 million, though investment gains are taxed and trustees charge fees. House requires a minimum of $500,000 in the trust to cover these fees.

  The key difference lies in the beneficiaries. House sees the revived person as legally distinct since a person cannot be their own trust beneficiary. He appoints a trust protector to determine revival, avoiding legal complications.

  Bloomberg writes that revival trusts challenge laws against perpetual trusts, which limit a trust’s lifespan to 90-100 years in many states. However, some states like Arizona and Florida allow trusts to last for centuries. This flexibility prompts people to consider long-term preservation.

  The uncertain future of trust structures is a concern. Changing laws and businesses pose risks. Estate planners emphasize the need for flexible, succession-oriented trust management.

  LeBel concluded: “I believe the aging process is going to be cured. It’s a disease. The technology isn’t there yet, but I can bridge that time gap with cryonics.”

  Tyler Durden
  Thu, 07/11/2024 – 23:20

• Colorado Governor Declares Disaster Emergency Over Bird Flu Outbreak
  Colorado Governor Declares Disaster Emergency Over Bird Flu Outbreak

  Authored by Jack Phillips via The Epoch Times (emphasis ours),

  Colorado Gov. Jared Polis issued an emergency disaster declaration in his state over an outbreak of highly pathogenic bird flu in northeastern Weld County as officials recently reported that 1.8 million chickens were impacted by the virus.

  

  The governor “verbally” declared a disaster after “an avian flu outbreak in a commercial poultry facility in Weld County,” according to a statement from his office issued on July 8. Mr. Polis’s office did not name the facility that was impacted by the outbreak.

  The declaration means that Colorado can use its emergency powers to “take all necessary and appropriate state actions to assist with response, recovery, and mitigation efforts.”

  In an update issued on July 8, the Colorado Department of Agriculture confirmed that 1.78 million chickens were impacted by highly pathogenic avian influenza.

  The Colorado Department of Public Health and Environment said in a statement on July 3 that a dairy farm worker in northeastern Colorado was infected with the H5N1 bird flu and had direct exposure to cattle infected with the virus. His only symptom was conjunctivitis, colloquially known as pink eye, which was described by the agency as mild.

  “He has recovered. This case is an employee at a dairy farm in northeast Colorado who had direct exposure to dairy cattle infected with avian flu. To protect patient privacy, additional details are not being provided,” the agency said last week in a statement.

  It’s not clear if the infected farm worker had any connection to the infected chickens in Weld County. Officials in the state said that the bird flu risk to Colorado residents remains low, noting that the virus is spreading among animals.

  The virus is “not adapted to spread from person to person,” Rachel Herlihy, state epidemiologist, said in a statement.

  “Right now, the most important thing to know is that people who have regular exposure to infected animals are at increased risk of infection and should take precautions when they have contact with sick animals,” she said.

  People were advised not to touch sick or dead animals. If necessary, people should wear protective gear such as eye protection, gloves, and an N95 respirator mask.

  The H5N1 virus associated with the cases also impacted about two dozen commercial dairy herds in Colorado over the past month or so, according to the U.S. Department of Agriculture (USDA). Colorado had no avian influenza cases throughout 2023, but in 2022, eight commercial poultry flocks were impacted by the virus, according to federal data.

  In 2022, a human H5N1 case in Colorado was detected in someone who was exposed to infected birds, according to officials.

  So far in 2024, three other dairy workers have been infected with the virus, with one case occurring in Texas in April and two in Michigan in May. Two reported conjunctivitis, while one reported having a cough and eye discomfort with a watery discharge, according to federal health officials.

  Michigan Confirms More Cases

  Meanwhile, on July 9, the Michigan Department of Agriculture and Rural Development confirmed that avian influenza has been detected in another dairy herd in Gratiot County, located in the center part of Michigan’s Lower Peninsula. So far, 26 herds have been affected, according to officials.

  Tests conducted at the Michigan State University Veterinary Diagnostic Laboratory detected the case and will send the samples to the USDA for confirmation, according to the agency.

  The state agency recommended that farms not share equipment with other farms so as to mitigate the risk of spreading the virus, among other steps being taken.

  In a statement issued late last month, the U.S. Food and Drug Administration (FDA) said that a new study confirmed that “pasteurization is effective at inactivating” the H5N1 bird flu virus that sometimes can be found in milk or other dairy products.

  The FDA said that its study “found that the most commonly used pasteurization time and temperature requirements were effective at inactivating [the virus].”

  “In each of the total of nine repeated experiments, the virus was completely inactivated,” the agency stated.

  Tyler Durden
  Thu, 07/11/2024 – 23:00

• Researchers Find Precise Way To Kill Cancer Cells
  Researchers Find Precise Way To Kill Cancer Cells

  Authored by Huey Freeman via The Epoch Times (emphasis ours),

  Cancer treatments that aim to destroy deadly cells often cause damage and pain as they wreak havoc on neighboring cells and tissues. However, scientists have discovered a new method of targeting harmful cells using light for precise destruction, according to a recent study.

  “Usually treatments for cancer use pharmacological induction to kill the cells, but those chemicals tend to diffuse throughout the tissues and it’s hard to contain to a precise location,” said University of Illinois Urbana-Champaign biochemistry professor and study leader Kai Zhang in a press release. “You get a lot of unwanted effects.”

  

  The researchers deploy optogenetics, an approach that uses optical systems to control cell functions, to focus a light beam on a target smaller than one cell.

  “That is how we can use light to very precisely target a cell and turn on its death pathway,” Mr. Zhang said in the press release.

  In addition to killing the cancer cell, another intended outcome is to trigger the immune system to respond to the light. Mr. Zhang said that the ruptured cells release cytokines, a type of small protein, attracting white blood cells that help the immune system fight infection. By killing cancer cells, the researchers hope to train T-cell white blood cells to recognize and attack the cancer, Mr. Zhang said.

  The researchers made the cells respond to light by borrowing a light-activated gene from plants and inserting it into intestine cell cultures. They then attached those genes to the genes for a protein, RIPK3, that regulates necroptosis, a form of cell death caused by various stimuli.

  Teak-Jung Oh, a graduate student and the paper’s first author, said the light activation process causes the RIPK3 proteins to cluster together, mimicking the natural death pathway.

  “Understanding the cell signaling pathway for necroptosis is especially important because it has been known to be involved with diseases like neurodegenerative disease and inflammatory bowel disease,” said Mr. Oh. “Knowing how necroptosis affects progression in these diseases is important. And if you don’t know the molecular mechanisms, you don’t really know what to target to slow the progression.”

  The study was published in the July issue of the Journal of Molecular Biology.

  Tyler Durden
  Thu, 07/11/2024 – 22:40

• Is It Time To Get Bullish On Platinum?
  Is It Time To Get Bullish On Platinum?

  Authored by Mike Maharrey via Money Metals,

  Is now a good time to get bullish on platinum?

  

  I’ve written a lot about the fact that silver appears to be underpriced given both technical factors and the supply and demand dynamics.

  Platinum may be even more undervalued.

  The current platinum price is hovering around $1,000 an ounce. To put that into perspective, platinum hit an all-time high of $2,213 an ounce in March 2008. This was higher than the record price gold hit in 2011. 

  One of the factors driving that 2008 record was a severe supply shortage due to a power crisis and labor strikes in South Africa, the world’s leading platinum producer.

  Before 2011, platinum was generally more expensive than gold. In 2015, this historical trend reversed with the spread between gold and platinum growing wider.

  

  But over the last two years, platinum has shown signs of life. In 2023, the platinum price was up a healthy 12.5 percent. So far this year, the metal has charted modest gains of about 3.8 percent.

  Platinum has a long way to go to regain its historic parity with gold, but supply and demand dynamics indicate there is plenty of room for platinum to push higher.

  Like silver, we’re seeing significant supply deficits in the platinum market. In 2023, there was a market deficit of over 100 million ounces, according to the World Platinum Investment Council. This was due to a combination of increasing demand and lagging mine output.

  The supply shortfall continued into the first quarter of 2024. 

  According to the WPIC, total platinum supply in Q1 was the second lowest since the organization started tracking data.

  As a result, the market deficit in Q1 came in at 369,000 ounces.

  Platinum is an important component in automobile catalytic converters. Auto demand for the metal hit a 7-year high in Q1 and that pace is expected to continue through the rest of the year.

  A rotation from electric vehicles to hybrids is boosting demand for platinum in the auto sector, according to the WPIC.

  “Platinum demand is bolstered by stricter emissions legislation, increased hybrid vehicles that contain an internal combustion engine, and growth in the substitution of platinum for palladium. It is important to note that once platinum is substituted for palladium in specific vehicle platforms, this demand for platinum is likely to remain constant throughout the platform’s seven-year lifecycle, even if platinum prices rise to, or exceed, those of palladium for an extended period.”

  Platinum jewelry demand also saw a healthy increase in the first quarter, rising by 5 percent year-on-year, driven by a 53 percent increase in Indian jewelry buying.

  Overall industrial demand fell slightly from a record in 2023 but remained 17 percent above the pre-COVID average.

  Investment demand is also on a positive track upward this year, supported by coin and bar purchases in China.

  According to the WPIC, China’s retail investment in platinum is forecast to exhibit double-digit growth this year, driven by perceptions of the metal being undervalued relative to gold.

  There is also a growing demand for platinum in the fast-growing hydrogen power sector.

  “We are now seeing signs that platinum’s role in the hydrogen economy is gaining momentum, with our forecast for 2024 indicating a significant increase in demand to meaningful levels. This year will also witness the allocation and deployment of over US$300 billion in tax incentives and subsidies from various governments around the world, potentially further accelerating hydrogen’s demand for platinum,” WPIC CEO Trevor Raymond said. 

  Looking ahead, the WPIC projects supply will remain flat even with the weak levels seen last year. Mine supply is expected to fall by about 3 percent offset somewhat by a rebound in recycling. But with demand expected to come in at a “robust” 7.6 million ounces, the WPIC projects a 476,000-ounce market deficit.

  “For the second consecutive year, the platinum market will post a meaningful deficit underscored by platinum’s sustained demand and supply vulnerability amidst global economic challenges. While we currently forecast a deficit of 476 koz, it is worth mentioning that a revision to the bar and coin investment series, based on new field research and information, could mean this deficit is potentially deeper,” Raymond said.

  Above-ground stocks are forecast to decline for the second straight year, falling another 12 percent. This would mark a 4-year low in above-ground platinum supply.

  Meanwhile, China is set to launch its first platinum futures contracts.

  According to the South China Morning Post, the Guangzhou Futures Exchange (GFEX) “will be the first exchange to allow delivery against its contracts of platinum and palladium in a form used by the main consumers, including carmakers and other industrial sectors, and the contracts may also support platinum investment demand in China.” 

  According to the report, investors will be able to take delivery of platinum in both ingots and “sponge” – pure metal in powder form. 

  “The ability to take delivery of sponge could be transformative for industrial users of PGMs, as well as carmakers, as this is the main form typically used for their manufacturing purposes,” the WPIC said.

  According to a WPIC statement, the GFEX futures will allow platinum jewelry and investment product fabricators to hedge price risk. This could reduce premiums and reduce the discount on platinum buyback, making platinum a more attractive investment.

  It remains to be seen whether platinum will regain the price parity with gold we saw before the mid-2010s, but given the supply and demand dynamics, it is reasonable to be bullish on platinum in the near to mid-term. Given the price disparity with gold, this may signal a buying opportunity.  

  Tyler Durden
  Thu, 07/11/2024 – 22:20

• US Solar And Wind Power Generation Tops Nuclear For First Time
  US Solar And Wind Power Generation Tops Nuclear For First Time

  By Charles Kennedy of OilPrice.com

  For the first time ever, U.S. electricity generation from utility-scale solar and wind exceeded nuclear power plants’ power output in the first half of 2024, according to data from energy think tank Ember quoted by Reuters columnist Gavin Maguire.

  Electricity generation from solar and wind hit a record-high of 401.4 terawatt hours (TWh) between January and June 2024, surpassing the 390.5 TWh of power generated from nuclear power plants, Ember’s data showed.

  

  Solar power generation jumped by 30% and electricity output from wind power rose by 10% in the first half of 2024, compared to the same period of last year.

  In 2023, nuclear power accounted for 18.6% of U.S. electricity generation, while wind power output had a 10.2% share and solar accounted for 3.9% of total U.S. electricity output, according to data for 2023 from the U.S. Energy Information Administration (EIA).

  Ember has estimated that the share of wind and solar grew to 16% in 2023, when nuclear was still the largest source of low-carbon electricity in the U.S.

  However, expanding renewable energy capacity and record solar and wind power generation helped solar and wind combined to top nuclear as the biggest low-carbon electricity source during the first half of this year.  

  Early in 2024, the EIA said that wind and solar energy would lead growth in U.S. power generation for the next two years.  

  As a result of new solar projects coming on line this year, the administration forecast that U.S. solar power generation will surge by 75%, from 163 billion kilowatt-hours (kWh) in 2023 to 286 billion kWh in 2025. The EIA also expects that wind power generation will grow by 11% from 430 billion kWh in 2023 to 476 billion kWh in 2025.

  In 2023, all renewable sources—wind, solar, hydro, biomass, and geothermal—accounted for 22% of total U.S. power generation.

  Tyler Durden
  Thu, 07/11/2024 – 22:00

• 7 In 10 People To Live In Urban Areas By 2050
  7 In 10 People To Live In Urban Areas By 2050

  Seven in ten people will live in urban areas by 2050, according to predictions by the UN World Population Division. That’s up from just three in 10 in 1950.

  The following chart, via Statista’s Anna Fleck, looks at a small selection of countries from around the world to highlight some of the patterns expected in the future. Of these, China is expected to see the greatest percent change over the 100 year span, increasing from 11.8 percent of the country living in urban centers in 1950, up to 80 percent in 2050 – a difference of some 68.2 percent. This has partly been driven by its rise of urban manufacturing and service sector jobs.

  Japan, Brazil and the United Kingdom are among the countries expected to have over 90 percent of their populations living in urban areas by 2050. As this chart shows, the UK was highly urbanized fairly early on, largely due to its early industrial revolution and the culture of people living in towns. It’s a similar story for other countries in Northern and Western Europe, which are forecast to have just below the 90 percent of their populations living in urban areas by 2050. In Southern Europe, the forecast is an average of 82.1 percent, while Eastern Europe is expected to be slightly lower at 79.4 percent. Meanwhile, in the United States, 83.7 percent of people are estimated to be living in urban centers in 2025, set to rise to 89.2 percent by 2050.

  

  You will find more infographics at Statista

  There are many reasons for urbanization.

  These can broadly be understood as ‘push factors’, which could include being forced to leave a rural area due to natural disasters or agricultural automation and land consolidation leading to fewer rural labor jobs, while ‘pull factors’ may look more like better employment and education opportunities or an interest in a different lifestyle.

  The impacts of a changing climate are allegedly an important factor here too, as some areas will become increasingly uninhabitable such as at the equator or along coastlines. This was highlighted in a recent study, which indicates that some 13 million people could be forced to move in the United States by 2100 due to rising sea levels.

  Urban growth is by no means universal though, with some cities seeing population decline.

  Read more on the topic here.

  Tyler Durden
  Thu, 07/11/2024 – 21:40

• Microplastics In Bloodstream Increase Stroke Risk 4.5-Fold: Study
  Microplastics In Bloodstream Increase Stroke Risk 4.5-Fold: Study

  Authord by JoJo Novaes and Ben Lam via The Epoch Times (emphasis ours),

  The issue of microplastic pollution in the environment is gaining increasing societal attention. Research indicates that once microplastics enter the human body, they can increase the risk of heart attacks, strokes, or even death. What kind of everyday behaviors raise the risk of ingesting microplastics?

  

  Lin Xiaoxu, a U.S. virology expert with a doctorate in microbiology, explained what microplastics and nanoplastics are on New Tang Dynasty TV’s “Health 1+1” program and how to reduce exposure to them.

  Plastic is a crucial product in industrial production and is deeply intertwined with daily life. When plastic products break down, they become microplastics or even smaller nanoplastics. Microplastics are plastic pieces smaller than 5 millimeters, while nanoplastics measure below 1 micron (1,000 nanometers).

  Sources of Microplastics

  Mr. Lin explained that everyday plastic products release microplastics. Synthetic textiles shed fiber fragments, and worn-out tires produce plastic-containing dust. Even seemingly smooth plastic water bottles can shed microplastics during washing.

  In nature, sunlight and ultraviolet radiation continuously degrade plastics into smaller particles. Textiles, hygiene products, bottles, bags, particles emitted from factories, tire dust, fishing nets, and more all contribute to microplastic pollution. Humans and other animals ingest some of these particles, while others accumulate and break down in oceans and soils. Marine organisms like shellfish, small fish, and shrimp, especially those near coastlines, are particularly prone to ingesting microplastics.

  Mr. Lin emphasized that the main sources of microplastics are industrial waste and wastewater discharge, which can cause significant environmental damage if not adequately treated.

  Therefore, before wastewater is released from factories, it must undergo processes like screening, sand removal, sedimentation, biological reactions, chlorination, ultraviolet treatment, membrane technology, etc., to remove over 90 percent of microplastics. However, complete elimination is not achievable. Natural environments may take thousands to tens of thousands of years to fully degrade microplastics.

  Health Hazards of Microplastics

  Microplastics typically enter the body through food and drink ingestion, while nanoplastics can be inhaled. Apart from directly irritating mucous membranes, microplastics can carry environmental microbes like bacteria and viruses into the body.

  “If you ingest something toxic, people usually say to wash it out quickly, but microplastics are very tiny particles that adhere to the surface of the stomach. It’s not guaranteed that washing out will remove them; the body needs to slowly eliminate them, increasing the burden on the body,” Mr. Lin noted.

  Studies have found that after exposure to ultraviolet light and microbial degradation in the natural environment, microplastics become more adsorbent, forming complexes with various environmental pollutants on their surfaces, making them more toxic to organisms.

  Microplastics, which serve as carriers for heavy metals and pathogens, exhibit various toxicities upon entering the body. Most microplastics ingested through food are excreted via feces, but a small portion can remain in the intestines for days, causing intestinal damage, inflammation, and disruption of gut microbiota. Over time, microplastics can be absorbed into intestinal cells and enter the bloodstream, damaging organs and systems throughout the body. Organs like the liver and kidneys and bodily systems such as the immune, reproductive, and nervous systems are particularly affected. Additionally, excessive inhalation of microplastics can cause respiratory tissue damage and disease.

  In March, a study published in the New England Journal of Medicine found that most carotid artery plaques contained microplastics. The study included 257 patients aged 18 to 75 with asymptomatic carotid stenosis. Following plaque removal from the arteries, researchers detected polyethylene in 150 patients (58.4 percent) and polyvinyl chloride in 31 patients (12.1 percent) of removed carotid artery plaques.

  Macrophages within the plaques contained visible foreign particles, some with jagged edges and chlorine content. The study suggested that patients with detected microplastics had over 4.5 times higher risk of heart attacks, strokes, or death compared to those without microplastics.

  

  US Congress Concerns Over Microplastics

  On Feb. 27, the U.S. Senate Committee on Environment and Public Works held a hearing on microplastics in water.

  Susanne Brander, an associate professor at Oregon State University’s College of Agricultural Sciences who has been researching microplastics and plastic pollution for nearly a decade, pointed out at the hearing that microplastic particles exist in the human heart, placenta, and lung tissues and circulate in blood. Microplastics harm marine and terrestrial organisms, slowing growth, altering behavior patterns, and causing reproductive disorders, particularly adversely affecting mammals.

  She described plastic pollution as one of humanity’s most significant environmental challenges and one of the world’s “most expensive” problems. It causes annual economic losses of $13 billion to fisheries, tourism, and shipping industries. In 2018, health care costs related to plastic-associated chemicals in the United States were estimated at up to $249 billion.

  How to Avoid Ingesting Microplastics

  How can we reduce the intake of microplastics in everyday life? Mr. Lin suggested the following preventive measures:

  • Filter water: Invest in a high-quality water filter capable of removing microplastics. Look for filters with a fine pore size or those specifically designed to filter out microplastics.
  • Avoid plastic containers: Opt for glass or stainless steel water bottles instead of plastic ones. Plastic bottles can shed microplastics, especially when exposed to heat or sunlight. Switch from plastic to glass containers for storing food. Glass does not degrade into microplastics and is safer for food storage.
  • Be cautious with food packaging: Choose fresh, unwrapped produce over prepackaged items. When buying packaged goods, select those in glass or cardboard rather than plastic.
  • Minimize processed food consumption: Processed foods often come in plastic packaging and can contain higher levels of microplastics. Cooking at home using fresh ingredients reduces exposure.
  • Avoid single-use plastics: Reduce the use of single-use plastics such as plastic cutlery, straws, and bags. These items contribute to pollution and degrade into microplastics over time.
  • Use natural fabrics: Synthetic fibers from clothing can shed microplastics during washing. Choose natural fabrics like cotton, wool, and silk, and use a laundry bag designed to capture microfibers.
  • Wash hands frequently: Wash hands often, especially after using gloves, as plastic residues inside gloves can transfer to hands.
  • Scrutinize cosmetics: Avoid cosmetics containing microplastics, such as microbeads in scrub creams and glitter in makeup products. Look for natural alternatives instead.

  Tyler Durden
  Thu, 07/11/2024 – 21:20

• La Nina Watch Remains In Effect As Development Odds High For Northern Hemisphere Winter
  La Nina Watch Remains In Effect As Development Odds High For Northern Hemisphere Winter

  Scientists from the National Oceanic and Atmospheric Administration (NOAA) issued an update Thursday stating that there is a 70% chance La Niña will develop between August and October and a 79% chance between November and January.

  #ENSO-neutral is expected to continue for the next several months, with La Niña favored to emerge during August-October (70% chance) and persist into Northern Hemisphere winter 2024-25 (79% chance for November-January). A #LaNina Watch remains in effect. https://t.co/5zlzaZ0D9Z pic.twitter.com/28c2iye7MM

  — NWS Climate Prediction Center (@NWSCPC) July 11, 2024

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  In the first half of the year, waters across the eastern Pacific have rapidly cooled, signaling the end of a strong El Niño. Surface waters across the eastern Pacific have bottomed in recent months. If cooler ocean waters are seen in the months ahead, a stronger La Niña could emerge, producing a more active hurricane season.

  The latest reading shows water temperatures in June were just 0.16 °C (0.3 °F) above the long-term average. 

  

  NOAA’s computer model, including the North American Multi-Model Ensemble, forecasts a “moderate” La Niña later this year. 

  

  NOAA’s historical winter precipitation data forecasts warmer- and drier-than-average conditions across the southern part of the US, colder-than-average conditions across the north-central Plains, and wetter-than-average conditions in the Ohio Valley and Pacific Northwest/northern California.

  

  Government scientist pointed out, “Also keep in mind that there’s about a 1-in-5 chance that La Niña won’t show up, and neutral conditions will last through the winter.”

  Let’s remind readers that NOAA has previously stated, “El Niño and La Niña are naturally occurring climate patterns and humans have no direct ability to influence their onset, intensity, or duration.” 

  Avoid far-left corporate media outlets that inject climate politics into nearly every weather headline and story they get a hold of to further their radical progressive agenda that’s not rooted in reality. Folks are realizing the leftist media is as clueless as Biden. 

  Tyler Durden
  Thu, 07/11/2024 – 21:00

• Aramco Secures $31 Billion In Orders For Bond Offering
  Aramco Secures $31 Billion In Orders For Bond Offering

  By Irina Slav of OilPrice.com

  Saudi Aramco has attracted orders worth a total $31 billion for a fresh bond the company said it would place on international markets. The size of the bond was $6 billion.

  

  In its first debt offering in three years, the Saudi energy giant offered 10- and 30-year notes, with offers for both topping $11 billion, Bloomberg reported, citing an unnamed source familiar with the deal. The company also offered investors a 40-year note in the tranche.

  Initially, plans were to offer some 140 basis points over U.S. Treasuries for the 10-year bond, 180 basis points over UST for the 30-year bond, and 195 basis points for the 40-year note. However, thanks to strong investor interest, the spreads were tightened to 105 basis points for the 10-year note, 145 basis points for the 30-year note, and 155 basis points for the 40-year note.

  According to early reports about the bond offering, the proceeds would go towards refinancing existing debt and helping the investment program of the world’s largest oil company by market value and production.

  “Aramco is extending maturities as it will continue to gradually leverage up given their expansion plans and capex needs,” the managing director of fixed income advisory at Union Bancaire Privee told Bloomberg.

  Aramco is a major source of income for the Saudi government that has large-scale plans for the diversification of the Saudi economy. The Saudi government holds 81.5% directly in Aramco with another 16% held by the kingdom’s sovereign wealth fund—the Public Investment Fund. Per Reuters, Aramco plans to pay some $124.3 billion in dividends this year.

  A month before the bond announcement, Aramco said it would also offer more stock to investors. The offering, priced at a discount, raised over $12.3 billion for the Saudi company. The initial proceeds came in at $11.2 billion, but the offering had an over-allotment option that kicked in, bringing the total to $12.35 billion.

  Tyler Durden
  Thu, 07/11/2024 – 20:40

• Lawsuit Alleges Hyundai Conducted "Secret Program" With Dealers To "Inflate" EV Sales
  Lawsuit Alleges Hyundai Conducted “Secret Program” With Dealers To “Inflate” EV Sales

  Napleton Aurora Imports in Illinois recently filed a lawsuit in federal court in Chicago, alleging that Hyundai pressured US auto dealers to “artificially inflate its publicly reported sales” of electric vehicles, creating a “false narrative” for consumers.

  The suit, Napleton Aurora Imports Inc et al v. Hyundai Motor America Corp, claims Hyundai instructed some dealers to “falsely report unsold vehicles as ‘sold’ to a retail customer or placed into loaner service, only to reverse the ‘sale’ the following month.”

  

  The suit, filed by Napleton Aurora Imports Inc. and other Hyundai franchises, detailed how there was an audio recording “demonstrating the existence of this scheme” with a dealer and district sales manager:

  “We gotta hit a number for the press and for the Koreans.”

  

  The suit alleges that Hyundai would reward dealers with “unlawful” perks, price discounts, and allocations of popular models in exchange for faking the sales numbers for EV cars. 

  Boosting fake EV sales allowed Hyundai to pump out a “press release touting its increased year-over-year sales and its growth in the electric vehicle (EV) sector.” 

  “Dealers who refuse to help HMA boost its fake numbers—like Napleton—are punished with allocations of slow selling vehicles, and denied wholesale price discounts, allocation, and retail price discounts to offer consumers, stifling competition and harming both Napleton and the public,” the suit said. 

  It seems like a classic case of “fake it till you make it.” This intriguing lawsuit raises the possibility that the demand for EVs reported in the corporate media might be inflated.

  Tyler Durden
  Thu, 07/11/2024 – 20:20

• Freedom Caucus Chair Responds To Anonymous 'A**hole' Allegations
  Freedom Caucus Chair Responds To Anonymous ‘A**hole’ Allegations

  Authored by Molly Burns via Headline USA,

  Rep. Bob Good, R-Va., brushed off the anonymous allegations from Capitol Hill insiders that his recent primary defeat by a razor-thin margin was the result of an abrasive personal demeanor.

  

  In a statement to Headline USA through his communications director, Marjorie Jackson, Good said the halls of Congress were no place for sugar-coating the work that needed to be done in order for lawmakers to do right by their constituents.

  “I believe we should do what we tell people we are going to do when we ask them to vote for us and trust us with the majority,” Good said in the statement.

  “With $35 trillion in debt, a border invasion, and an unprecedented assault on our constitutional freedoms, we cannot afford to wait till the next election to fight for the American people,” he added. “We should use every tool available to reverse the harm caused by the Democrat policies that are destroying our country and causing so much suffering.”

  Despite having one of the most conservative voting records in all of Congress, Good—the current chair of the House Freedom Caucus— lost his primary election in Virginia’s 5th District by 0.6% of the vote to state Sen. John McGuire.

  The contentious primary race made national headlines after Good and presumptive presidential nominee Donald Trump each backed the other’s primary opponent—a significant departure from the days when Trump drew some of his staunchest support from Freedom Caucus members (even selecting two chiefs of staff, former Reps. Mick Mulvaney and Mark Meadows, from its ranks).

  Good declined to endorse Trump until Florida Gov. Ron DeSantis—another Freedom Caucus alumnus—dropped out of the race in January. Consequently, he became the object of Trump’s ire.

  Good also invited attacks from loyalists to ousted House Speaker Kevin McCarthy, R-Calif., after he was one of the “Gaetz Eight” who voted with Democrats to invoke the motion to vacate the speakership.

  “I didn’t come to Washington to make friends, and some of my colleagues are angry with me because they have to answer for their bad votes when they go back home,” Good said in his statement to Headline USA. “If they can’t defend these votes, they should vote differently.”

  Good, however, ultimately reaped the political consequences of his tough decisions, including the dubious achievement of uniting both Trump’s America First populist supporters and the D.C. insiders of the McCarthy-linked Republican Main Street Partnership against his campaign.

  Rep Marjorie Taylor Greene, R-Ga., a well-known ally of both Trump and McCarthy, made several withering statements against Good, going as far as to call him “toxic” to Trump’s reelection efforts.

  Speaking anonymously to the Daily Caller on Monday, some Capitol insiders took it to an even more personal level.

  “He’s an a**hole” said one individual.

  A Republican member of Congress elaborated: “He’s perhaps the most unlikable guy in Congress, and that’s saying a lot with the likes of some others who are major-league a**holes. I don’t think there is anyone in Congress, conservative or not, who would pee on Bob Good if he was on fire.”

  A GOP ad-maker accused him of getting “out-hustled” by McGuire on the campaign trail.

  “Bob Good decided to spend his time in Washington making enemies out of literally everyone he met,” the source said. “He wasn’t being a principled conservative; he was being an unnecessary jerk.”

  The aftermath of the primary battle, with its razor-thin finish in an unpredictable district that encompasses both ultra-liberal Charlottesville and the Jerry Falwell-influenced Lynchburg, has brought little closure to the wounds that were openened during the course of the campaign.

  According to Good, three of the voting precincts mysteriously caught fire on Election Day.

  He also signaled his intention to move forward with a recount, even though 374-vote gap in the final tally fell outside the 0.5% threshold for the state to cover it—meaning Good must foot the bill himself.

  “In a race with nearly 63,000 votes that is separated by a 0.6% margin, Republican voters across the 5th District deserve to know that all legal votes have been accurately counted,” Good’s campaign manager, Diana Shores, told the Daily Caller. “We will vigorously pursue that objective over the coming days and weeks, as permitted by Virginia law.”

  Good—who took over from Rep. Scott Perry, R-Pa., as the fifth chair of the Freedom Caucus at the start of the current session—may not finish his term in the leadership role. Politico reported indicated that fellow caucus members were privately discussing his replacement following the presumptive primary defeat.

  Headline USA’s Ben Sellers contributed to this report.

  Tyler Durden
  Thu, 07/11/2024 – 20:00

• Biden Resumes Transfer Of 500-Pound Bombs To Israel As Fight Returns To Gaza City
  Biden Resumes Transfer Of 500-Pound Bombs To Israel As Fight Returns To Gaza City

  The Biden administration’s punitive ‘pause’ of arms transfers for certain types of munitions to Israel, namely 500-pound and 2,000-pound bombs, didn’t last very long. As many predicted from the start, it was a mere slap of the wrist ploy for PR purposes to take some pressure off from both European allies abroad and Progressive Democrats at home in the US. 

  “The U.S. will soon begin shipping to Israel the 500-pound bombs that the Biden administration had previously suspended, ending a two-month pause it had imposed in a bid to reduce civilian casualties in Gaza, U.S. officials said,” according to fresh Wall Street Journal reporting.

  

  The bombs are expected to arrive in Israel in a matter of weeks, and “are in the process of being shipped,” the report adds. The 2,000-pound bombs Israel also previously had access to are reportedly still on hold, however, and will not be transferred by Washington.

  The paused shipment had been withheld two months ago as Israeli ground forces went into the southern city of Rafah, resulting in the displacement of some one million civilians; however, despite calling the Rafah offensive a “red line” – the White House has kept supplying Israel with a variety of other weapons systems.

  “Our main concern had been and remains the potential use of 2,000-pound bombs in Rafah and elsewhere in Gaza,” a US official has confirmed. “Because our concern was not about the 500-pound bombs, those are moving forward as part of the usual process.”

  Meanwhile, fighting has returned to Gaza City in the north of the Strip, which had been pacified in the opening months of the conflict.

  Israel’s military (IDF) has once again ordered all residents of Gaza City to immediately evacuate to the central part of the Gaza Strip amid heightened operations in the north, where militants have returned. BBC details:

  Leaflets dropped by aircraft instruct “everyone in Gaza City” to leave what is described as a “dangerous combat zone” via designated safe routes – marked as two roads that lead to shelters in Deir al-Balah and al-Zawaida.

  All of these developments are likely to again intensify internal Democratic infighting in the US. Coupled with speculations over his health and fitness for another term, Biden also faces severe criticism over his handling of Gaza.

  Ironically some of these same Progressives have at once accused Biden of enabling genocide while simultaneously urging that he should stay in the race and take the White House for another term…

  The “Squad” position that Biden is both complicit in an ongoing “genocide” and totally fit to serve another four years as president is really special

  — Michael Tracey (@mtracey) July 10, 2024

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  Rep. Alexandria Ocasio-Cortez at the start of this week came out in support of Biden staying in amid an avalanche of calls for him to step aside following his disastrous debate performance.

  “I have spoken to the president over the weekend. I have spoken with him extensively,” Ocasio-Cortez told reporters Monday night. “He made clear then — and he has made clear since — that he is in this race.” She emphasized, “The matter is closed.” Likely she’ll remain quiet on his Gaza policies moving forward as well.

  Tyler Durden
  Thu, 07/11/2024 – 19:40

• FBI Identified 'Person Of Interest' In Capitol Pipe Bomb Case By Jan. 10, 2021
  FBI Identified ‘Person Of Interest’ In Capitol Pipe Bomb Case By Jan. 10, 2021

  Authored by Ken Silva via Headline USA,

  The FBI released a new batch of records about its Capitol Hill uprising investigation on Monday, revealing that investigators identified a “person of interest” in its Jan. 5/6 pipe bombs investigation within days of the incident.

  

  The record about the FBI’s person of interest is a Jan. 10, 2021, report that summarized the bureau’s J6 investigation up to that point. The extremely faded report is difficult to read, but it appears to state: “FBI WF and USCP have identified a person of interest who may be a match to the description of the individual placing the bombs, and continue efforts to identify through surveillance footage.”

  🚨NEW🚨 The FBI released records yesterday, showing that by Jan. 10, 2021, the bureau had “identified a person of interest who may be a match to the description of the individual” who placed the pipe bombs near the RNC and DNC

  What happened to this person of interest?

  The… pic.twitter.com/CPbI8VAzIF

  — Headline USA (@HeadlineUSA) July 9, 2024

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  The FBI declined to comment in response to Headline USA’s questions about what happened to the person of interest, including whether the person was cleared or is still under investigation.

  “We don’t have any comment on the documents.  The pipe bomb investigation remains ongoing,” an FBI spokesperson told this outlet.

  The FBI has been extremely tight-lipped on its pipe bomb investigation, and most of the revealtions have come via congressional investigations or other agencies, such as the Bureau of Alcohol, Tobacco, Firearms and Explosives.

  Last July, for instance, Rep. Thomas Massie, R-Ky., played a video showing a passerby “miraculously” finding a pipe bomb outside of the DNC headquarters on Jan. 6, 2021.

  Massie’s revelation followed an interview he and other House Judiciary Committee members conducted with former FBI official Steven D’Antuono, who oversaw the bureau’s pipe bomb investigation until he retired last November. In that interview, D’Antuono disclosed that some of the cell phone evidence from the FBI’s pipe bomb investigation was “corrupted.”

  Why doesn’t Director Wray have answers about the January 6th pipe-bomb investigation?

  🎥 : @RepThomasMassie pic.twitter.com/mBJUcMQajG

  — House Judiciary GOP 🇺🇸🇺🇸🇺🇸 (@JudiciaryGOP) July 12, 2023

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  More recently, congressional investigators revealed that the “passerby” pegged by Massie was, in fact, a plainclothes Capitol Police officer.

  The latest major development came in March, when the Justice Department released ATF records showing that CIA explosives technicians were part of the response to the pipe bombs placed outside the RNC and DNC headquarters.

  Still, the FBI is staying silent on the matter.

  “It was 900 days ago when this happened, and you said you had total confidence that you’d apprehend the subject,” Massie said a year ago, to no avail. “It’s 900 days. You need to tell us what you found.”

  Ken Silva is a staff writer at Headline USA. Follow him at twitter.com/jd_cashless.

  Tyler Durden
  Thu, 07/11/2024 – 19:20

• China Has Been Practicing For Strikes On US Jets & Warships In Remote Desert Region
  China Has Been Practicing For Strikes On US Jets & Warships In Remote Desert Region

  Recently emerged satellite images reveal that the Chinese military has been practicing for attacks on US fighter jets and aircraft carriers in the remote deserts of Xinjiang in northwest China.

  South China Morning Post (SCMP) in a fresh report analyzing the photographs identifies that the images were taken by Google Earth on May 29 and show mock-ups of jets resembling advanced US stealth fighters.

  

  SCMP highlights a post by the Turkey-based Clash Report which was the first to highlight the photos with a caption: “Chinese PLA Air Force pilots are learning to practice air strikes on American F-35 and F-22 mock-ups.”

  A likely location within Xingjiang region has been Qakilik (or Ruoqiang County) in the Taklamakan Desert, but this has neither been acknowledged by the Chinese government nor confirmed by any official source.

  A number of the mock-up stealth fighters appeared to have suffered damage, likely by PLA aerial bombing runs, with blackened craters in a runway at the fictional airbase.

  Chinese PLA Air Force pilots are learning to practice air strikes on American F-35 and F-22 mockups.

  Qakilik, Taklamakan Desert, Xinjiang. pic.twitter.com/BjTHpgEWQI

  — Clash Report (@clashreport) June 20, 2024

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  A separate report in Business Insider appears to show separate satellite images, obtained on a different date, of the same location in the desert. The images, captured in late April by Planet Labs PBC, similarly show around 20 aircraft near a runway.

  Among the planes that resembles US stealth fighters, there also appears to be a P-8A Poseidon and the U-2 reconnaissance plane.

  Planet Labs was also able to capture an apparent US Arleigh Burke class destroyer mock-up in the Taklamakan Desert earlier this year.

  

  One analyst highlighted in comments made to the publication that the mock-ups likely are not just for target practice, but for honing radar and weapons-guidance software and sensitive technology.

  The expert described that “these mock-ups potentially allowed China to refine seekers with image-recognition capabilities and help it develop the ability to accurately target particular ships or even specific parts of ships where a missile could do the most damage.”

  

  Tyler Durden
  Thu, 07/11/2024 – 19:00

• Top New York City Law Firm To Deny Employment Over Pro-Palestine Protests
  Top New York City Law Firm To Deny Employment Over Pro-Palestine Protests

  Via Middle East Eye

  Participation in Gaza solidarity protests and student groups could become a disqualifying factor for applicants at a prominent Wall Street law firm, The New York Times reported on Tuesday.

  The 145-year-old law firm, Sullivan & Cromwell, which employs close to 900 lawyers and has had Amazon and Goldman Sachs among its clients, has hired the background check company HireRight to assess an applicant’s participation record in pro-Palestinian protests and student groups.

  

  HireRight will scour a candidate’s social media profiles alongside news reports and footage from protests. Applicants will also be asked to list student groups they have joined. 

  Based on the materials found, the firm has the right to refuse employment. Using a private background check company to ensure compliance with existing workplace prohibitions on hate speech is not an uncommon practice in the US, only a handful of restrictions are in place to prevent discrimination.

  The case of Sullivan & Cromwell, however, sets a new precedent, since it is the mere involvement in a protest that is enough to hold an applicant accountable, even if no problematic language was used by the candidate itself. 

  Under the firm’s new policy, it is enough if the slogan, “From the River to the Sea, Palestine will be Free”, was chanted at a protest that the applicant attended. 

  Sullivan & Cromwell did not reportedly disclose whether the firm has already dropped candidates because of the policy.

  Consequences

  After the background check is performed, and material that Sullivan & Cromwell considers to be objectionable is found, the candidate will be asked to explain their role in the protest, including what efforts the candidate engaged in to prevent others from making offensive or harassing statements, a New York Times article published on Tuesday says.

  No other law firm on Wall Street has publicly discussed a similar policy toward protesters, but several have considered adopting similar rules.

  “Disqualifying people based on what someone else nearby may have been doing seems to characterize all protesters as having a single mindset,” Roderick A Ferguson, a Yale professor of American studies, told The New York Times. “Such thinking can mimic racist thinking, sexist thinking, homophobic thinking, that one instance becomes a character of all.”

  Over the last couple of months, several reports have emerged of employees losing their jobs, or job offers being rescinded over their actions or statements regarding the war in Gaza. Faculty members at various colleges across the US have been fired, suspended or removed from the classroom for speech expressing solidarity with Palestine. 

  Last October, The Washington Post reported an incident in which a New York University law student was faced with a job offer being rescinded due to a letter she wrote to the Bar Association saying that Israel bears responsibility for the war in Gaza. 

  Tyler Durden
  Thu, 07/11/2024 – 18:40

• Biden Praises 'Vice President Trump' During Rambling Post-NATO Presser
  Biden Praises ‘Vice President Trump’ During Rambling Post-NATO Presser

  Update (2032ET): That was rough. After introducing Ukrainian President Volodymyr Zelensky as Vladimir Putin – then arriving to his own press conference more than 50 minutes late, a coughing, slurring Joe Biden then called Donald Trump his Vice President as he attempted to show the world what a ‘goodest boy’ can do.

  “I wouldn’t have picked Vice President Trump to be vice president, if she’s not qualified to be president.” pic.twitter.com/UnLFQy05cj

  — jordan (@JordanUhl) July 11, 2024

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  Blinken, Austin and Sullivan the moment Biden said “Vice President Trump”

  Antony’s reaction to Joe’s flubs always kill me.

  pic.twitter.com/ULmvcSfsUG

  — Western Lensman (@WesternLensman) July 12, 2024

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  Biden then slurred his way through an answer on whether he thinks he should take another neurological exam.

  Biden on taking a neurological exam: “The only thing that age does is create a bit of wisdom if you’re paying attention … no matter what I did, no one is gonna be satisfied.”

  But he says he’ll take one if docs recommend it. pic.twitter.com/gLEHF9Heyc

  — Aaron Rupar (@atrupar) July 12, 2024

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  Biden then blamed his staff for his horrendous debate performance last month, telling the audience that he’s “catching hell from my wife.”

  Biden: “I love my staff but they add things. They add things all the time at the very end. I’m catching hell from my wife” pic.twitter.com/64D9cVZELj

  — Alex Thompson (@AlexThomp) July 12, 2024

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  Apparently Biden follows the advice of his “commander-in-chief” – whoever that is…

  BIDEN: “I’m following the advice of my commander-in-chief” 😳 pic.twitter.com/FdspE1UIQf

  — RNC Research (@RNCResearch) July 11, 2024

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  He even treated us to his creepy whisper voice that must give daughter Ashley some serious flashbacks.

  Biden’s whisper thing always sounds creepy, not funny. pic.twitter.com/9OSkSziUOr

  — emily miller (@emilymiller) July 12, 2024

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  But wait, there’s more!

  Fifty seconds apart. pic.twitter.com/Hps1XkhjIQ

  — MAZE (@mazemoore) July 12, 2024

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  Many considered tonight’s performance a referendum on what direction the Democratic party will take in terms of support. Looks like they’re between a rock and a hard place, as Biden’s PredictIt odds dipped and then recovered during the rambling speech – except, ‘Vice President Trump’ is now gaining ground.

  

  

  *  *  *

  Cheat-sheet in hand, we are sure; President Biden steps forward tonight for perhaps his final (and most important) press conference ever as he attempts to clam the masses about his ‘one off’ events at the debate and with Stephanopoulos (and the numerous times before that were all ‘cheap fakes’, remember).

  Since George Clooney admitted he saw the emperor with no clothes on, Biden’s odds of getting the nomination have plummeted back to post-debate lows and Kamala is rising from her knees…

  

  So grab your popcorn and get ready for fireworks – there is no way Americans are going to stand for an hour long press conference that is 100% rigged with pre-selected questions that do not test the President in his current state (which makes us wonder, who on his ‘team’ thought it a good idea to schedule this presser for 630pm!!!)

  And now he’s lost late-night TV ‘comics’ too…

  Jon Stewart mocking Biden’s cognitive decline. pic.twitter.com/zo4w6VJ9RC

  — i/o (@eyeslasho) July 11, 2024

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  Bear in mind that the last time he was forced to do a solo presser, was right after the release of Robert Hur’s report wherein Joe was deemed unfit to stand trial due to being an “elderly man with a poor memory.”

  As @WesternLensman noted on X:

  When asked if he was too old for the job, Joe said: “That is not the judgment of the press.”

  That didn’t age well.

  Also in that PC, Joe claimed he was the best person to be president in the US and that his memory was fine —  just before confusing the presidents of Egypt and Mexico.

  At the time, this was viewed as a fairly hostile press asking some tough questions.

  It will pale in comparison to what we’ll see tonight.

  The long knives are unsheathed.

  The last time Biden was forced to hold a press conference was in the wake of the release of the Hur Report, wherein Joe was deemed unfit to stand trial due to being an “elderly man with a poor memory.”

  When asked if he was too old for the job, Joe said: “That is not the judgment… pic.twitter.com/IZfOWlt6oz

  — Western Lensman (@WesternLensman) July 11, 2024

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  Yes we know it’s Thursday evening… yes, we know everyone is trying to dry out a little after July 4th celebrations… but this is too good an opportunity.

  Drink every time President Biden says any of the following:

  • Liar

  • Clooney

  • Elites

  • Jan 6

  • Golf Handicap

  • Malarkey

  • Jill, Hunter, or Beau (double for Beau)

  • Democracy

  • Felon

  • Inflation

  And down the whole bottle if Biden ‘glitches’ for more than 5 seconds flat… because that means it really is all over for ‘ol Joe, and Kamala is the gal!

  Finally, just minutes before this press conference, Biden introduced Zelensky… as Putin!!

  BIDEN: “Ladies and gentlemen, President Putin” 😳 pic.twitter.com/pId2QZ3Ao0

  — RNC Research (@RNCResearch) July 11, 2024

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  Watch the press conference live here (due to start at 1830ET)

  * * *

  Despite President Biden and his team attempting a major, multi-faceted counter-offensive aimed at silencing demands for him to call off his re-election bid, the push to bounce Biden off the ticket has only grown stronger — with major new developments in the Senate and elsewhere fostering a growing sense that the 81-year-old’s campaign is in its final days. 

  Today could bring the coup de grâce, when Biden hosts a rare, solo press conference at 5:30 pm ET. UPDATE: The press conference has been moved to 6:30 ET. That’s well outside the ideal 10am-to-4pm window in which administration sources say he’s best able to function — and it will be held on the South Grounds of the White House, with a forecast temperature of 91 degrees. As if that weren’t enough to stack the deck against him, the presser will come after Biden has spent a full day in NATO summit meetings, including a session with Ukrainian President Volodymyr Zelensky. 

  On top of all that, Biden will face a press corps that’s been re-programmed to accelerate the ongoing establishment coup that’s seen as the last means of beating Trump in November. As we noted in our press-conference preview:

  “With Biden on a precipice, Thursday’s press conference could be a contest among reporters striving to cement their place in history by being the one to give Biden the decisive shove over the cliff.” 

  

  Biden’s 2024 campaign slid closer to that edge on Wednesday, as Vermont’s Peter Welch became the first Democratic senator to publicly call for Biden to exit the race, pointedly saying “We cannot unsee President Biden’s disastrous debate performance. We cannot ignore or dismiss the valid questions raised since that night…I deliver this assessment with sadness.”

  His call came on the same day that the number of House reps issuing similar pleas to Biden grew to nine, with Oregon’s Earl Blumenauer saying Biden “should not be the nominee.” Also, New York Lt. Gov. Antonio Delgado joined the chorus, in a move that reportedly made Gov. Kathy Hochul “furious.” 

  Of potentially greater Senate significance than Welch’s announcement, Democratic Majority Leader Chuck Schumer has reportedly been entertaining avenues by which Biden could be replaced. “Schumer is privately signaling to donors that he’s open to a Democratic presidential ticket that isn’t led by President Biden,” Axios reported. According to three unnamed sources, he has been listening to “donors’ ideas and suggestions about the best way forward.” Schumer responded to the report by merely reiterating that he “support[s]” Biden.” 

  On NBC, a neurologist says Biden has Parkinson’s. “That is a fact. He has degeneration of the brain. Show me the MRI. Show me he doesn’t…. He definitely has it.” A med student who looked at Biden’s symptoms and didn’t diagnose Parkinson’s, says the doctor, would be failed. pic.twitter.com/VpaBGMCJY7

  — Mike (@Doranimated) July 10, 2024

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  In an attempt to shore up Biden’s weakening Senate wall, three of Biden’s top political advisors will meet with Democratic senators at lunch today to give an audience to their concerns. Reflecting the increasingly sour mood among upper-chamber Democrats, Punchbowl News reporter Andrew Desiderio says one of those senators spontaneously told him the meeting will be “a waste of everyone’s time if Biden can’t even come make the case himself.”

  In addition to the Senate, there’s new action on another anti-Biden front, as dozens of Democratic Party delegates are organizing a letter to the DNC seeking nominating-convention rule changes that would make their votes secret and allow delegates to vote their conscience — rather than being bound to vote for the winners of their state primaries and caucuses.

  In a defensive move, members of Biden’s campaign team have been calling individual delegates to assess their loyalty to the president, Politico reports. The aides are asking question like, “Do you understand what being a pledged delegate means?” and “Do you have any potential disagreements with the president?”

  Wednesday also brought a major-headline broadside from Hollywood, as actor and Biden rainmaker George Clooney published a New York Times op-ed declaring that the Biden he saw at last month’s big Los Angeles fundraiser is a shell of his former self:

  In George Clooney’s NYT op-ed urging Biden to drop out, he says he saw how cognitively crippled Biden rwas at the Hollywood fund-raiser he co-hosted with Obama last month.

  Remember: the media accused anyone saying this *at the time* of being a far-right disinformation agent. pic.twitter.com/j5a87XFcAo

  — Glenn Greenwald (@ggreenwald) July 10, 2024

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  Further fueling the Democrats’ sense of all-out crisis, donors large and small are making good on their promises to withhold donations so long as Biden is atop the ticket. Donations to the Biden-Harris campaign have gone into an absolute free-fall, and NBC News served up a variety of doom-and-gloom quotes from various sources “close to” the campaign’s fundraising efforts: 

  • “It’s already disastrous.”
  • “The money has absolutely shut off.”
  • “Donors are negative. They had a call with the president. The call seemed so contrived to people…I don’t think they buy it.” 

  There’s been a growing comedic edge to Democrats’ public remarks this week. On Monday, Biden sent Congressional Democrats a two-page letter unequivocally declaring that, after having “extensive conversations…over 10 days” with Democratic party officials, legislators and voters, he is determined to stay in the race to Nov. 5. Pretending they didn’t read that — or hear Biden’s declaration that it would take a directive from “the Lord Almighty” for him to opt out, prominent Democrats continue talking about Biden’s decision in the future tense. Case in point: Nancy Pelosi’s Wednesday-morning appearance on MSNBC:  

  Does Biden “have your support to be the head of the Democratic ticket? Nancy Pelosi’s non-answer: “It’s up to the president to decide if he is going to run. We’re all encouraging him to make that decision because time is running short.” (He has repeatedly said he’s running.) pic.twitter.com/nyeZunyY30

  — Brian Stelter (@brianstelter) July 10, 2024

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  The phenomenon has made for laughs across social media…

  Biden: I have made my final decision.

  Pelosi: pic.twitter.com/FOSDrpxe6W

  — The System (@tealtalk) July 10, 2024

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  Biden: I’m staying in the race.
  Dems: Biden needs to make a decision.
  Biden: I mean it, I’m staying in the race. No joke
  Dems: It really is Biden’s time for choosing, given the high stakes.

  — Kirk A. Bado (@kirk_bado) July 10, 2024

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  Biden: I’m running. Only god almighty can change my mind. Challenge me at convention.

  Pelosi: Biden should make his decision soon. Oh he already made it? He should make the decision again

  🙂‍↕️

  — umichvoter 🏳️‍🌈 (@umichvoter) July 10, 2024

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  While everyone else is laughing, the pressure from the Biden crisis is clearly getting to Nancy:

  I know Nancy Pelosi didn’t look a Black woman in the face and say “Am I speaking English to you?”

  This is one of the most racist things she’s ever done and there’s a whole list of them!

  Girl, you don’t have no business talking to a sista that way! pic.twitter.com/03KHndm2Zw

  — Lavern Spicer 🇺🇸 (@lavern_spicer) July 10, 2024

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  …while even the long-serving Biden apologists at leftist outlets at CNN are increasingly contemptuous of the Baghdad Bob lines emanating from the White House: 

  Journalist: “The point is to suggest that Biden’s stamina is better than George Clooney’s.”

  Tapper: “Ok…” 🙄 pic.twitter.com/O1H5MuaNGI

  — Joshua Reed Eakle 🗽 (@JoshEakle) July 10, 2024

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  It can’t be long now…

  Tyler Durden
  Thu, 07/11/2024 – 18:20

• Sam Altman-Backed Nuclear Startup Oklo On Pace To Launch First Reactor By 2027
  Sam Altman-Backed Nuclear Startup Oklo On Pace To Launch First Reactor By 2027

  Sam Altman-backed nuclear company Oklo is “push[ing] towards its target of building its first small modular reactor by 2027 at the Idaho National Laboratory,” according to a new report from Reuters. 

  The company – which we have highlighted as the potential solution to the extreme forthcoming demands in energy as a result of artificial intelligence – makes nuclear power plants, ranging from 15 MWe to 50 MWe, utilizing liquid metal reactor technology.

  And while licensing and fuel supply are still bottlenecks, according to the report, the company has “been selected by the Department of Energy for four cost-share awards to potentially commercialize advanced recycling technologies” and has “secured a site use permit from the DOE and a fuel award from INL,” Reuters reports.

  Oklo co-founder and CEO Jacob DeWitte commented: “We’ve tried to design and approach this whole thing in a way that we can get it built as soon as reasonably possible.”

  DeWitte added: “We’re excited about the diversity of customers, because it shows that our size and business model clearly match with what customers are interested in.”

  

  “They’re not starting overnight with a facility that’s using that much power, but they typically build into that, and they want to have that n+1 or n+2 dynamic build up with them,” he added.

  “You can’t really do that if you’re building a 300 MW reactor, but you can do that with what we’re doing and that adds a lot of value.”

  Oklo’s ‘Aurora powerhouse’ reactor will cost around $70 million for the 15 MW version, with an LCOE of $80-$130/MWh, similar to peaking gas-fired plants and offshore wind, per Lazard analysis.

  The Reuters report notes that Oklo has signed an agreement with the Southern Ohio Diversification Initiative for its second and third commercial plants at the DOE Piketon Site and has interest in building over 50 reactors with a total capacity exceeding 700 MWe.

  In May, Oklo partnered with Atomic Alchemy to produce medical isotopes from its recycling process for cancer treatment and diagnostic imaging. It also signed an LOI with Wyoming Hyperscale for a 20-year PPA to supply 100 MW to its data center campus.

  In April, Oklo signed an LOI for a 20-year PPA with Diamondback Energy to power its shale-oil operations in the Permian Basin.

  Oklo is preparing a pre-application readiness assessment for its reactor with the Nuclear Regulatory Commission (NRC). In 2022, the NRC denied Oklo’s application for a combined construction and operation license (COLA), the first for an advanced non-light water reactor. DeWitte notes this pre-assessment is a “dress rehearsal” for their application, expressing optimism despite previous delays caused by the pandemic.

  

  The federal ADVANCE Act, passed in June, aims to speed up licensing, mobilize the fuel supply chain, and benefit Oklo by reducing fees, shortening timelines, and offering incentives.

  We noted about a month ago that the company had signed a deal to power data center Wyoming Hyperscale. 

  As we wrote back in May, Oklo won shareholder approval on May 8 for its NYSE listing. The company’s mission is “to provide clean, reliable, affordable energy on a global scale through the design and deployment of next-generation fast reactor technology”.

  Backed by investors like Jeff Bezos, Bill Gates, and Peter Thiel, the who’s who of the AI revolution, nuclear fusion startups are gaining traction. Sam Altman, who invested in Oklo in 2015, believes the company is “best positioned to commercialize advanced fission energy solutions,” per a July press release.

  For those who missed it, in “The Next AI Trade,” we outlined various investment opportunities for powering up America, most of which have dramatically outperformed the market. In the next iteration, we will likely add Oklo to the list of beneficiaries certainly ahead of the inevitable cascade of Buy ratings sure flood the name over the next month.

  Tyler Durden
  Thu, 07/11/2024 – 18:00

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