Today’s News 1st August 2024

  • Visualizing The Global Demand For Oil (2022-2045F)
    Visualizing The Global Demand For Oil (2022-2045F)

    Economists have been attempting to forecast the point of peak oil—the year when oil demand reaches its maximum level—since the 1970s. Despite increasing warnings regarding climate change, global demand has continued to rise over the last few years and could continue.

    In this graphic, Visual Capitalist partnered with Range ETFs to explore the global oil demand and determine which region will demand the most in 2045.   

    Projecting Global Oil Demand

    As per OPEC, Oil demand could be as much as 17% higher by 2045 than it was in 2022. These projections are in millions of oil barrels per day and broken down by oil product.

    Oil’s importance in the global economy and its role as a fuel in many nations and industries worldwide contribute to the strength in demand. Additionally, the demand for jet fuel could grow by as much as 60% between 2022 and 2045, as currently, there is no carbon-neutral alternative to kerosene.  

    Who Will Be Using This Oil?

    The forecasts also describe how much of this demand could flow to each region by 2045. Here is how it breaks down: 

    Despite significant investments in clean energy, large economies like those in North America, China, and India are forecast to have the most demand in 2045. This would be driven by each region’s need to use oil in transportation, industrial processes, and energy generation.

    The Future of Oil

    Oil’s continued importance as a fuel will likely keep demand growing over the next two decades.

    Investors can take advantage of the growing potential oil demand by gaining exposure to various companies at the forefront of the offshore oil industry through the Range Global Offshore Oil Services Index ETF (OFOS)

    Tyler Durden
    Thu, 08/01/2024 – 02:45

  • The Polish-Hungarian Dispute Is Getting Nastier After Sikorski Lied About Szijjarto
    The Polish-Hungarian Dispute Is Getting Nastier After Sikorski Lied About Szijjarto

    Authored by Andrew Korybko via substack,

    Polish-Hungarian relations are in crisis over their polar opposite approaches towards Ukraine, which already just ruined their 700-year-old brotherhood at the state-to-state level and continues getting worse. Tensions had been building since the start of Russia’s special operation, but they finally exploded after Hungarian Prime Minister Viktor Orban criticized Poland on Saturday for hypocritically attacking his country over its Russian oil imports and radically reshaping the European balance of power.

    This was followed by Polish Deputy Foreign Minister Teofil Bartoszewski suggesting on Sunday that Hungary should withdraw from the EU and NATO in order to form “a union with Putin”. Hungarian Foreign Minister Peter Szijjarto responded to that by doubling down on Orban’s claims that Poland is hypocritical and provocative while also conveying to Warsaw that Budapest’s patience is wearing thin. Readers can learn more about their dispute from this analysis here that was published on Monday.

    It turns out that the Warsaw-based Visegrad Insight published an interview with Polish Foreign Minister Radek Sikorski later that same day in which this top diplomat continued his deputy’s attacks against Hungary. He practically mocked Orban for not having any support for his peace mission and then scandalously claimed that Szijjarto initially supported his proposal to hold the next EU Foreign Affairs Council in Ukraine as a compromise between Budapest and Brussels before eventually vetoing it.

    Sikorski’s other attacks against Hungary inclined throwing shade on its East-West balancing act and implying that newfound cooperation with the Chinese police imperils national sovereignty. Szijjarto was once again pressed to respond to these Polish provocations, which he did in two Facebook posts here and here. He accused Sikorski of lying, clarified that Orban’s peace mission was a national initiative unrepresentative of the EU, and expressed hope that Poland will one day return to Central Europe.

    The last part showed that he’s nobly taking the high road by refusing to stoop to Sikorski’s level with lies and smears, which would have amounted to dirtying himself by wrestling with a pig while his Polish counterpart squeals with delight. Poland wants to provoke Hungary into behaving undiplomatically since that could then be spun to discredit the conservative-nationalist opposition that looks to it for guidance on non-Ukrainian-related issues like illegal immigration and still treasures their brotherhood.

    Apart from not wanting to deal a deathblow to this relationship at the people-to-people level among those in Poland who still appreciate it, Hungary also doesn’t want to discredit itself in the eyes of its non-Western partners like Russia and China by acting like a typical European country does nowadays. Those two and others respect that Hungary conducts itself differently than its peers, which is why they’d be hugely disappointed if it was successfully provoked by Poland into behaving just like the rest of them.

    Hungarian diplomacy is sophisticated enough to never sully the state like that, which is why it’s expected that its representatives will continue taking the high road no matter what Poland says or does, even if Sikorski and others get a lot nastier. This’ll likely take the form of them continuing to explain how far astray Poland has gotten from its post-Old Cold War mission of turning their Visegrad Group with Czechia and Slovakia into a third center of influence in Europe alongside the Franco-German axis and Russia.

    Hungary wants to remind Poland that the greater geopolitical good is served by returning to this mission instead of continuing to contribute to continental instability by serving as the Anglo-American Axis’ wedge between the aforementioned traditional power centers. Polish policy won’t change as a result, but Polish patriots will know that Hungary has Poland’s best interests in mind no matter what the ruling liberal-globalist coalition claims, thus keeping their brotherhood alive at the people-to-people level.  

    Tyler Durden
    Thu, 08/01/2024 – 02:00

  • Kari Lake Wins GOP Senate Primary In Arizona, Setting Up Showdown With Rep. Ruben Gallego
    Kari Lake Wins GOP Senate Primary In Arizona, Setting Up Showdown With Rep. Ruben Gallego

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

    In this combination photo, Kari Lake speaks in Dallas on Aug. 5, 2022, left, and Rep. Ruben Gallego, D-Ariz., is seen in the Capitol on July 14, 2022. (AP Photo)

    PHEONIX—Kari Lake has won Arizona’s Republican Senate primary, defeating Pinal County Sheriff Mark Lamb and Elizabeth Reye.

    “If you think this is a battle between Democrats and Republicans, you’re still sleeping,” Lake said in her victory speech, calling on Trump Republicans, traditional Republicans, “disaffected Democrats,” and others to come together.

    Lake, a former Phoenix-area television news anchor and Republicans’ 2022 gubernatorial nominee, was favored to win the primary with a significant lead in most polls.

    Her victory sets up a general election contest with Rep. Ruben Gallego (D-Ariz.), who ran unopposed in the Democratic Senate primary.

    During her victory speech, the Iowa-born Lake brandished what she described as an opposition research file on Gallego, calling him extreme and highlighting his Chicago origins.

    Gallego’s victory was called shortly after the polls closed at 7:00 p.m. local time. The Associated Press called Lake’s victory in the primary at 8:44 p.m. local time.

    It’s official – my opponent is Kari Lake,” Gallego wrote on X shortly after Lake’s victory was projected. “Arizona, the choice is clear: Kari wants to ban abortion. I will always protect abortion rights.”

    As of 9 p.m. local time, Lake had won 53.3 percent of the vote, according to the Associated Press, and carried all but two counties in the state. Lamb had 40.7 percent as of that same time, while Reye had 6.1 percent.

    Lake and Gallego are seeking to replace Sen. Kyrsten Sinema (I-Ariz.), who is not seeking reelection. Sinema was elected as a Democrat in 2018 but left the party after the 2022 midterm elections.

    Matthew Martinez, who leads the legal ballot-chasing effort for conservative advocacy group Turning Point Action, lauded Lake’s win in a speech at her victory party.

    This is a good victory… but we have to win our general,” Martinez said on stage.

    Senators from Arizona, a battleground state, have often received a spotlight in national politics. The late Sen. John McCain (R-Ariz.) ran for president in 2000, where he was Texas Gov. George W. Bush’s primary opponent, and in 2008, when he won the nomination but was defeated in the general election by Sen. Barack Obama (D-Ill.).

    McCain later attracted national prominence for his criticism of candidate Donald Trump in 2016 and, later, during his presidency. McCain succeeded the late Sen. Barry Goldwater (R-Ariz.), who was the Republican nominee in the 1964 presidential election against President Lyndon Johnson. Goldwater later played a key role in defense policy and is often regarded as a pivotal figure in the conservative movement.

    Arizona’s other senator, Sen. Mark Kelly (D-Ariz.), is named as a possible running mate for Vice President Kamala Harris, the likely Democratic presidential nominee.

    Most polls show Gallego with a lead over Lake. He has also significantly outraised Lake in terms of campaign contributions. Lake’s candidacy has attracted controversy for her legal challenges to the 2022 gubernatorial election, where she claims she won the race against Gov. Katie Hobbs. She has been endorsed by Trump as well as the National Republican Senatorial Committee, the party’s Senate campaign arm.
    Earlier on July 30, Gallego and his wife visited the South Phoenix Missionary Baptist Church to drop off their ballots, which were mailed to them ahead of time. In a subsequent press conference, Gallego criticized Lake’s unwillingness to commit to a general election debate hosted by the Arizona Clean Debates Commission.

    I don’t understand why Kari Lake is afraid of an even, grounded debate,” Gallego said.

    Lake said she didn’t want to work with the debate commission, citing her treatment during the 2022 midterms.

    “We’ve seen how they treated people the last election cycle back in 2022, where people who decided not to do the debate, namely Hobbs, ended up getting her own half-an-hour. That was my problem,” Lake told reporters on July 30.

    She indicated that her campaign would consult with Gallego about a possible debate in another forum.

    The Associated Press contributed to this report. 

    Tyler Durden
    Wed, 07/31/2024 – 23:20

  • China Leads The World In Critical Minerals Production
    China Leads The World In Critical Minerals Production

    Demand for critical minerals such as copper, cobalt, lithium and nickel is soaring. These raw materials are used in a range of new technologies, from electric cars to wind turbines, which are becoming ever more important as the world moves towards a green transition. Experts forecast that this trend is set to accelerate, with global production of cobalt, graphite and lithium set to increase nearly six-fold between now and 2050 (World Bank).

    As Statista’s Anna Fleck shows in the chart below, data recently published by the United Nations Conference on Trade and Development (UNCTAD) shows that China accounts for around two-thirds of the world’s processing/refining capacity for critical minerals.

    Infographic: China Leads Critical Minerals Production | Statista

    You will find more infographics at Statista

    While the extraction of these materials takes place all around the globe, China currently accounts for more than half of the world’s refining of aluminum, lithium and cobalt, around 90 percent of that of rare earth metals and manganese and 100 percent of that of natural graphite. In addition, more than a third of the world’s copper and nickel processing is carried out in China.

    While China is in the lead for critical minerals production, the nation is losing its dominance. For example, the United States and Australia have increased their production of rare earths from 2010 onwards and most recently, Myanmar and Thailand have started to mine far more than before.

    Tyler Durden
    Wed, 07/31/2024 – 22:55

  • Did Jeffrey Epstein & William Barr Attend Interlochen In 1967?
    Did Jeffrey Epstein & William Barr Attend Interlochen In 1967?

    Authored by Nick Bryant via nickbryantnyc.com,

    Interlochen is a prestigious fine arts preparatory school in northern Michigan, and Jeffrey Epstein attended Interlochen “camp” in 1967 as a teenager. But the school disavows that two-time Attorney General William Barr also attended the camp in 1967, despite pictorial evidence that appears to tell a different story. 

    At the top of the page, the picture shows teenage Epstein standing in front of his respective lodge at Interlochen in 1967 and a boy who bears an uncanny resemblance to a miniature William Barr kneeling before his respective lodge. In fact, he could be a doppelganger for William Barr if he isn’t William Barr.

    Interlochen cannot possibly deny that Epstein attended the camp, because he became a major booster for the school, donating $500,000 that financed construction of the Jeffrey Epstein Scholarship Lodge on the school’s campus. He also held soirees for Interlochen alumni at his New York townhouse, and, of course, he preyed on Interlochen minors. “Jane,” an Interlochen camp alumni, was one of four women who testified at Ghislaine Maxwell’s trial. She testified that she met Maxwell and Epstein at Interlochen’s summer camp in the summer of 1994, when she was 13, and they groomed her for sexual abuse that lasted more than five years. 

    On July 6, 2019, Epstein was arrested at the Teterboro Airport in New Jersey. Two days later Barr seemingly recused himself from all things Epstein. “I’m recused from that matter because one of the law firms that represented Epstein long ago was a firm I subsequently joined for a period of time,” Barr told reporters. Barr was referring to his tenure at Kirkland and Ellis whose Jay Leftkowitz colluded with Assistant US Attorney Ann Marie Villlafana to work out Epstein’s corrupt, “sweetheart” deal in 2007, which landed Epstein in a county jail for 13 months, even though the Justice Department was aware of more than 30 underage victims of Epstein. 

    Barr had additional reasons to recuse himself from all things Epstein in addition to the conflict of interest engendered by his employment at Kirkland and Ellis. Alex Acosta, who oversaw Epstein’s sweetheart deal when he was the US attorney for Southern Florida, served in Donald Trump’s cabinet as Secretary of Labor alongside Barr. Moreover, Barr’s father, Donald, was the headmaster Dalton School, one of the most prestigious preparatory schools in the United States, when he hired an extremely unqualified, college dropout, Jeffrey Epstein, to teach math and physics at the school—seven years after the above picture was taken. (Interestingly, Donald Barr would resign from Dalton the same year he hired Epstein.) So, Barr had three solid reasons to recuse himself from all things Epstein. 

    But the day following Barr’s recusal, Tuesday July 9th, 2019, a Justice Department official announced that Barr consulted with career “ethics officials” at the Justice Department, and came to the conclusion that he didn’t have to recuse himself from Epstein’s 2019 prosecution in Manhattan. However, Barr said he would recuse himself from an internal investigation that delved into Epstein’s sweetheart deal in 2008 in which Epstein was sentenced to 18 months in jail and served 13 months, even though the Justice Department had an extensive list of Epstein’s underage victims. Unbelievably, the Department of Justice ultimately ruled that Epstein’s sweetheart deal, which covered up his crimes against numerous underage victims, was “poor judgement.” 

    Throughout the 1980s, Barr bounced between government service and a prestigious Washington law firm. In the wake of the 1988 election, Bush the Elder installed Barr as first assistant attorney general. In 1990, Barr became the deputy attorney general, which is the second most powerful position in the Justice Department. 

    Barr’s boss at the Justice Department was Attorney General Richard Thornburgh, and the Department of Justice under Thorburgh played an integral role in covering up the interstate pedophile network run by Lawrence King of Omaha and Craig Spence of Washington, DC, which is discussed in The Franklin Scandal: A Story of Powerbrokers, Child Abuse, and Betrayal. Thornburgh was also a close friend of pedophilic pimp Craig Spence. 

    The “Franklin” child trafficking network was massive, and it required three hijacked grand juries to cover-up: a state grand jury in Nebraska, a federal grand jury in Nebraska, and a federal grand jury in Washington, DC. Thornburgh and Barr were at the helm of the Justice Department when their minions in Nebraska and Washington, DC perpetrated the egregious cover-ups. Thornburgh relinquished his position as attorney general in 1991 to run for the US Senate, and Barr became the attorney general. Barr then put the finishing touches on covering up the Franklin child trafficking network.

    In fact, William Barr specializes in cover-ups. Under his second watch as attorney general, the Epstein child trafficking network was covered up. Despite the Epstein network’s myriad of acknowledged procurers and pimps, Ghislaine Maxwell was the only person to take the fall. And the Justice Department under Merrick Garland went on to facilitate the cover-up.

    So … back to the aforementioned pictures. Barr had three conflicts of interest in the Epstein case that he sidestepped to deftly cover-up Epstein’s child trafficking network. If Epstein and Barr had a friendship or, in the very least, were acquittances dating back to 1967, then he surely would’ve had to recuse himself from all things Epstein. The pictures show that Barr has a doppelganger or Interlochen is lying. 

    You, the reader, decide.

    (The images above were gleaned from the 1967 Interlochen Art Camp directory, and Epstein is on page 63 and the purported picture of Barr is on page 68.) 

    Tyler Durden
    Wed, 07/31/2024 – 22:30

  • Who Funds The US Presidential Campaigns?
    Who Funds The US Presidential Campaigns?

    Campaign financing, whether for supporting or opposing a candidate running for public office, can be costly, even more so when the stakes are who will become the next President of the United States. Data from the Federal Election Commission (FEC) collected and analyzed by the nonpartisan research group OpenSecrets shows that for this election cycle, President Joe Biden, potential Democratic nominee Kamala Harris and former President Donald Trump have collected roughly $781 million from a variety of partisan interest groups up until June 30, 2024. Not included: the reported $100 million in funds the Harris campaign raised in just over a day after Biden dropped out of the race.

    While there are bipartisan groups that support more than just one candidate, the chart below, vis Statista’s Florian Zandt, shows only contributions made by organizations or individuals directly supporting either Harris’s or Trump’s election bid. At first glance, it is already apparent that the Trump campaign relies on the funds of so-called super PACs. The prefix super stems from the fact that donations to these committees are not as tightly regulated and can exceed the donor limit of $5,000 per year.

    While, in theory, super PACs are independent and their expenditures “not made in cooperation, consultation or concert with, or at the request or suggestion of, any candidate, or his or her authorized committees or agents, or a political party committee or its agents”, the reality is often different. For example, Make America Great Again Inc spent almost $100 million of its roughly $200 million raised in support of Donald Trump and opposition of his competitors in the Republican primary and incumbent President Joe Biden. The largest donor with $75 million is Thomas Mellon, heir to one of the richest families in the U.S.

    The Biden-Harris campaign, on the other hand, saw the most money raised outside of the official campaign committee come from so-called carey committees. These committees are a mixture of a super PAC and a regular PAC. They hold two accounts, one for unlimited donations and spending and another that adheres to the strict aforementioned caps. Around $148 million out of the $152 million coming from carey committees was raised by Future Forward USA and The Lincoln Project. The former received donations by, for example, a variety of unions and Silicon Valley venture capitalist company Greylock Partners. It has also been accused of receiving large amounts of secret donations towards the end of the 2020 presidential election. The considerably smaller Lincoln Project’s donors include donors like the University of California, Bank of America, Google parent company Alphabet and AT&T. The largest donors, however, are the designer outlet mall company McArthurGlen and Silicon Valley’s Sequoia Capital, the latter of which has also given money to the Trump campaign.

    Infographic: Who Funds the U.S. Presidential Campaigns? | Statista

    You will find more infographics at Statista

    Ever since President Biden announced he would stop campaigning for reelection and endorsed Vice President Kamala Harris as the new Democratic candidate, Republicans have questioned whether Harris could utilize the hundreds of millions of U.S. dollars from the war chest of the Biden reelection campaign. According to many experts, among them the director of the progressive nonprofit Brennan Center for Justice’s Elections & Government Program Daniel I. Weiner and Nicholas Stephanopoulos, Kirkland & Ellis Professor of Law at Harvard, Harris is cleared to use the funds since she ran on a combined ticket with Joe Biden.

    However, a current President stepping down from his reelection bid and passing the torch to his Vice President has no precedent in U.S. history, so it’s more a question of established practice than a clear legal ruling. According to Stephanopoulos, the FEC is still dealing with official complaints connected to the 2016 election, so there is virtually no chance that any decision barring Harris from utilizing the Biden campaign funds will be made before the election in November.

    Tyler Durden
    Wed, 07/31/2024 – 22:05

  • Doug Casey On 'Your Enemy, The Deep State'
    Doug Casey On ‘Your Enemy, The Deep State’

    Authored by Doug Casey via InternationalMan.com,

    A lot of people would like political solutions to their problems, i.e., getting the government to make other people do what they want. People with any moral sense, however, recognize that can only create more problems.

    Clever players, therefore, use the government as a tool but do so from behind a curtain. They know that it’s more effective, and a lot safer, to pull the puppet’s strings from offstage. Sometimes, they step into the limelight, depending on the circumstances and the depth of their personal narcissism. But they’re all about two things: Power and money. Call them the Deep State.

    Once a country develops an entrenched Deep State, only a revolution or a dictatorship can turn things around. And probably only in a small country.

    The American Deep State is a powerful informal network which controls most institutions. You won’t read about it in the news because it controls the news. Politicians won’t talk about it or even admit that it exists. That would be like a mobster discussing murder and robbery on the 6 o’clock news. You could say the Deep State is hidden, but it’s hidden in plain sight.

    The Deep State is involved in almost every negative thing that’s happening right now. It’s essential to know what it’s all about.

    The State

    The Deep State uses and hides behind the State itself.

    Even though the essence of the State is coercion, people have been taught to love and respect it. Most people think of the State in the quaint light of a grade school civics book. They think it has something to do with “We the People” electing a Jimmy Stewart character to represent them. That ideal has always been a pernicious fiction because it idealizes, sanitizes, and legitimizes an intrinsically evil and destructive institution, which is based on force. As Mao once said, political power comes out of the barrel of a gun.

    The Deep State

    The Deep State itself is as old as history. But the term “Deep State” originated in Turkey, which is appropriate since it’s the heir to the totally corrupt Byzantine and Ottoman empires. And in the best Byzantine manner, our Deep State has insinuated itself throughout the fabric of what once was America. Its tendrils reach from Washington down to every part of civil society. Like a metastasized cancer, it can no longer be easily eradicated.

    In many ways, Washington models itself after another city with a Deep State, ancient Rome. Here’s how a Victorian-era freethinker, Winwood Reade, accurately described it:

    “Rome lived upon its principal till ruin stared it in the face. Industry is the only true source of wealth, and there was no industry in Rome. By day the Ostia road was crowded with carts and muleteers, carrying to the great city the silks and spices of the East, the marble of Asia Minor, the timber of the Atlas, the grain of Africa and Egypt; and the carts brought out nothing but loads of dung. That was their return cargo.”

    The Deep State controls the political and economic essence of the US. This is much more than observing that there’s no real difference between the left and right wings of the Demopublican Party. Anyone with any sense (that is, everybody except the average voter) knows that although the Republicans say they believe in economic freedom (but don’t), they definitely don’t believe in social freedom. And the Democrats say they believe in social freedom (but don’t), but they definitely don’t believe in economic freedom.

    Who Is the Deep State?

    The American Deep State is a real but informal structure that has arisen to not just profit from but control the State.

    The Deep State has a life of its own, like the government itself. Within the government, it’s composed of top-echelon employees of a dozen Praetorian agencies, like the FBI, CIA, and NSA…top generals, admirals, and other military operatives…long-term congressmen and senators…and directors of important regulatory agencies.

    But the Deep State is much broader than just the government. It includes the heads of major corporations, all of whom are heavily involved in selling to the State and enabling it. That absolutely includes Silicon Valley, although those guys at least used to have a sense of humor, evidenced by their defunct “Don’t Be Evil” motto.

    It also includes the top people in the Fed, and the heads of the major banks, brokers, and insurers. Add the presidents and many professors at top universities, which act as Deep State recruiting centers… top media figures, of course… and many regulars at things like the WEC, Bohemian Grove, and the Council on Foreign Relations. They epitomize the status quo, held together by power, money, and propaganda.

    Altogether, I’ll guess these people number a couple thousand. You might analogize the structure of the Deep State to a huge pack of dogs. The people I’ve just described are the Top Dogs.

    But there are hundreds of thousands more who aren’t at the nexus but who directly depend on them, have considerable clout, and support the Deep State because it supports them. This includes many of the wealthy, especially those who got that way thanks to their State connections… the 1.5 million people who have top secret clearances (that’s a shocking but accurate number), plus top players in organized crime, especially the illegal drug business, little of which would exist without the State. Plus mid-level types in the police and military, corporations, and non-governmental organizations.

    These are what you might call the Running Dogs.

    Beyond that are the scores and scores of millions who depend on things remaining the way they are, like the 50%-plus of Americans who are net recipients of benefits from the State—the 70 million on Social Security, the 90 million on Medicaid, the 50 million on food stamps, the many millions on hundreds of other programs, the 23 million government employees and most of their families. In fact, let’s include the many millions of average Joes and Janes who are just getting by.

    You might call this level of people, the vast majority of the population, Whipped Dogs. They both love and fear their master; they’ll do as they’re told and roll over on their backs and wet themselves if confronted by a Top Dog or Running Dog who feels they’re out of line. These three types of dogs make up the vast majority of the US population. I trust you aren’t among them. I consider myself a Lone Wolf in this context and hope you are, too. Unfortunately, however, dogs are enemies of wolves and tend to hunt them down.

    The Deep State is destructive, but it’s great for the people in it. And, like any living organism, its prime directive is: Survive! It survives by indoctrinating the fiction that it’s both good and necessary. However, it’s a parasite that promotes the ridiculous notion that everyone can live at the expense of society.

    Is it a conspiracy headed by a man stroking a white cat? I think not. It’s hard enough to get a bunch of friends to agree on what movie to see, much less a bunch of power-hungry miscreants bent on running everyone’s lives. But, on the other hand, the Top Dogs all know each other, went to the same schools, belong to the same clubs, socialize, and, most importantly, have common interests, values, and philosophies.

    The American Deep State rotates around the Washington Beltway. It imports America’s wealth as tax revenue. A lot of that wealth is consumed there by useless mouths. And then, it exports things that reinforce the Deep State, including wars, fiat currency, and destructive policies. This is unsustainable simply because nothing of value can come out of a city full of parasites.

    A SOLUTION?

    Many Americans undoubtedly believe Donald Trump is a solution to what ails the US. They think he’s a maverick who will smash the Deep State. That’s understandable since he’s a cultural conservative. He wants the country to resemble the happy days of yesteryear, when Mom, apple pie, and Chevrolets were more important than Diversity, Equity, and Inclusion. He’s a nationalist, a traditionalist, and business-oriented. That’s all very well. But irrelevant to the Deep State.

    The problem is that Trump will almost necessarily surround himself with Deep State players; they’re really all there is in and around the Washington Beltway, Wall Street, Academia, or the media. He’s not about to abolish government agencies (although he might prune a few) and fire scores of thousands of government employees. His lack of a philosophical core will guarantee that instead of trying to abolish the State (in the manner of Millei or Ron Paul), he’ll just use it in ways he thinks are righteous. The proof of that is the trillions of new government spending and deficits he approved of when he was in power. He’ll spend trillions more if he’s re-elected. And all of it will feed the Deep State.

    On the bright side, if Trump is elected, his rhetoric will be less objectionable than Kamala’s. There will probably be less overtly disastrous legislation enacted, and some regulations will likely be cut back.

    On the not-so-bright side, I’m afraid the Democrats could win come November. They have control of the apparatus of the State, and they absolutely don’t want to give it up. The Deep State will be just fine if Trump wins, of course. But nobody wants to take a chance; there might be some broken rice bowls. He might turn into a loose cannon. So the Deep State, the Establishment, will be even fatter and happier if the Dems take control.

    That’s what they’ll work for. And that’s the way to bet.

    *  *  *

    It’s clear there are some ominous social, political, cultural, and economic trends playing out right now. Many of which seem to point to an unfortunate decline of the West. That’s precisely why legendary speculator Doug Casey and his team just released this free report, which shows you exactly what’s happening and what you can do about it. Click here to download it now.

    Tyler Durden
    Wed, 07/31/2024 – 21:40

  • New Jersey AR-15 Ban Ruled Unconstitutional, But Large Capacity Magazines Still Outlawed
    New Jersey AR-15 Ban Ruled Unconstitutional, But Large Capacity Magazines Still Outlawed

    New Jersey AR-15 fans were handed a big victory on Tuesday, after US District Judge Peter G. Sheridan issued an order declaring that the Colt AR-15 rifle is not an “assault firearm” as defined in the New Jersey Code of Criminal Justice Section 2C:39-1, and that doing so is incompatible with recent precedent set by the US Supreme Court.

    An AR-15 rifle at FT3 tactical shooting range in Stanton, Calif., on May 3, 2021. (John Fredricks/The Epoch Times)

    The AR-15 Provision of the Assault Firearms Law is unconstitutional under Bruen and Heller as to the Colt AR-15 for use of self-defense within the home,” Sheridan wrote in an accompanying memorandum citing the two cases decided in 2022 and 2008 respectively.

    Under the Heller decision, the right of Americans to own and keep firearms in their homes for lawful self-defense is covered under the 2nd Amendment, while Buren established a history-and-tradition-based test for owning guns.

    According to Sheridan, New Jersey’s AR-15 prohibition therefore cannot stand, as it’s inconsistent with America’s historical tradition of gun regulation by banning an entire class of commonly used firearms that are used for home defense.

    “In this court’s understanding of Supreme Court precedent, a categorical ban on a class of weapons commonly used for self-defense is unlawful,” he wrote.

    That said, Sheridan declined to extend his determination to roughly 60 other guns defined under New Jersey law as “assault firearms,” as the court had only been fully briefed on the AR-15 and none of the other firearms on the restricted list.

    “Given the variety of firearms regulated in the Assault Firearms Law and the nuances that each individual firearm presents, the Court’s analysis of the Assault Firearms Law is limited to the firearm with which the Court has been provided the most information: the AR-15,” he wrote.

    Sheridan also upheld the state’s ban on large-capacity magazines (LCMs) which can hold more than 10 rounds of ammunition. The only way residents can possess them is if they’ve registered an “assault firearm” in line with state law, and use said LCM in connection with sanctioned competitive shooting matches.

    As the Epoch Times notes further, Sheridan argued that the LCM ban is different than the categorical ban on AR-15s because the law doesn’t restrict the number of magazines a person can own, just their capacity. He also reasoned that the “unprecedented rapidity and damage of mass shootings support a nuanced reading” of the historical analogs under the Supreme Court’s decision in Bruen.

    He argued that large-capacity detachable magazines can be traced directly to military heritage and brought up the historical analogy of restrictions on Bowie knives.

    “Like these restrictions, the LCM Amendment is precisely that—a restriction responding to safety concerns present in our time,” he wrote, arguing that the burden on New Jersey residents’ right to self-defense is comparable to that imposed by historical laws restricting the way that Bowie knives could be carried and used.

    “As such, these historical analogues provide the basis for the following conclusion: that the State may regulate the permissible capacity of the large capacity magazines.”

    The judge ruled that the LCM ban is constitutional. He issued a 30-day stay on his decision, meaning the AR-15 ban remains temporarily in effect.

    Several of the plaintiffs in the consolidated case have already filed an appeal.

    New Jersey residents Mark Cheeseman and Timothy Connelly (dubbed the Cheeseman plaintiffs in the case) and gun rights advocacy group Firearms Policy Coalition (FPC) filed a notice of appeal on July 30.

    FPC said in a statement that the appeal targets “legal deficiencies” in the judge’s opinion and that the motion seeks the “full relief” that was originally requested from the district court, which included a request to overturn the “assault firearm” restriction as it applied to the list of 60-plus guns and ones that are “substantially similar.”

    “Bans on so-called ‘assault weapons’ are immoral and unconstitutional. FPC will continue to fight forward until all of these bans are eliminated throughout the United States,” FPC President Brandon Combs said in a July 30 statement.

    New Jersey Attorney General Matthew Platkin, one of the defendants in the case, said in a statement posted on social media that he plans to appeal the portion of the ruling that declares the AR-15 ban unconstitutional while praising the other aspects of the ruling.

    “I am disappointed that the district court has held that individuals have a constitutional right to possess the Colt AR-15,” he said, calling such firearms an “instrument designed for warfare.”

    “All New Jerseyans should know that the overwhelming majority of our law remains intact today.”

    Platkin noted that the court upheld the LCM ban and didn’t allow individuals to possess any other guns classified as “assault firearms.”

    He said he remains committed to defending the entirety of New Jersey’s firearm law and looks forward to pressing the state’s arguments on appeal.

    Restrictions on magazine capacity ranging from 10 to 20 rounds of ammunition are in effect in 14 states and the District of Columbia, according to the U.S. Concealed Carry Association (USCCA).

    Bans of so-called assault weapons have been adopted in nearly a dozen states, according to the USCCA.

    Tyler Durden
    Wed, 07/31/2024 – 21:15

  • Report Finds US Military Lacks Ability To Defeat China, Suggests Cold War Style Defense Spending
    Report Finds US Military Lacks Ability To Defeat China, Suggests Cold War Style Defense Spending

    Authored by Andrew Thornebrooke via The Epoch Times (emphasis ours),

    A new congressional report suggests that the U.S. military lacks the required capabilities to preserve the nation’s strategic interests and could lose a potential war against China.

    An F-35 jet lands on the runway of the USS Carl Vinson aircraft carrier during the Rim of the Pacific (RIMPAC) military exercises, about 100 miles south of Oahu, Hawaii, on July 19, 2024. (Marco Garcia/File Photo/Reuters)

    The report, published on July 30 by the Commission on the National Defense Strategy, found that “the U.S. military lacks both the capabilities and the capacity required to be confident it can deter and prevail in combat.”

    “The Commission finds that the U.S. defense industrial base (DIB) is unable to meet the equipment, technology, and munitions needs of the United States and its allies and partners,” the report reads.

    Eric Edelman, who serves as vice chair for the commission, told the Senate Armed Services Committee on Tuesday that China’s communist regime was outpacing the United States in military development.

    He said that fact could increase the likelihood of a conflict between the two powers and the likelihood of the United States losing.

    There is potential for a near-term war and a potential that we might lose such a conflict,” Mr. Edelman said.

    “We found that China is in many ways outpacing the U.S.,” he said. “While we still have the strongest military in the world with the farthest global reach, when we get to 1,000 miles of China’s shore, we start to lose our military dominance and could find ourselves on the losing end of a conflict.”

    To that end, Mr. Edelman underscored that the growing strategic partnerships between China, Iran, North Korea, and Russia were a “major strategic shift” that U.S. defense planners failed to fully account for.

    He said that with those four authoritarian regimes working together against the United States in an unprecedented way, the United States could face a global conflict that would stretch all of its national resources thin.

    It makes each of those countries potentially stronger militarily, economically, and diplomatically, and potentially can weaken the tools we have at our disposal to deal with them,” Mr. Edelman said.

    “And it makes it more likely that a future conflict, for instance in the Indo-Pacific, would expand across other theaters, and that we would find ourselves in a global war that is on the scale of the Second World War.”

    Therefore, the Commission’s report calls on Congress and the various government departments to “rewrite laws and regulations to remove unnecessary barriers to adopting innovation, budgeting, and procurement” in pursuit of increased deterrence.

    Likewise, the report recommends that the national strategy be radically transformed by moving away from the “bipolar” Cold War strategic model to a “multi-theater model” that accounts for the fact that the United States could face armed conflicts against multiple nation states across the globe simultaneously.

    Time is not on the United States’ side, the report says, and China is likely to increase its hostile behavior in the coming years in an effort to “normalize unlawful behavior” as it pursues “establishing advantageous conditions for future coercion or conflict.”

    The report does not equivocate on the issue. If changes are not made to the national strategic posture, the armed wing of China’s communist rulership, the People’s Liberation Army (PLA), will likely surpass the strength of the U.S. military.

    If these trends continue, the PLA will be a peer, if not superior, military competitor of the United States across domains, a situation the United States has not faced since the height of the Cold War,” the report reads.

    Commission Chair Jane Harman told the committee the United States should synthesize all instruments of its power, including private industries, to propel military innovation and the adoption of new technologies.

    In order to achieve this, the report calls for increasing taxes to expand U.S. defense spending to Cold War levels, which it suggests fell between 4.9 and 16.9 percent of GDP.

    Assuming the United States maintains its 2023 GDP of about $27 trillion, that would mean an annual defense budget of at least $1.3 trillion to as much as $4.5 trillion, though the report says that advances in commercial technologies would reduce the cost burden compared to the Cold War era.

    We found that the joint force is at the breaking point of maintaining readiness today. Adding more burden without adding resources to rebuild readiness will cause it to break,” Ms. Harman said.

    “We recommend fundamental change in the way the Pentagon and other government agencies do business, the way they incorporate private sector technology, and a full embrace of our partners and allies. Shorthand for this is we recommend using all elements of national power.”

    Tyler Durden
    Wed, 07/31/2024 – 20:50

  • Eight Other Times Israel Likely Behind Covert Assassinations In Iran
    Eight Other Times Israel Likely Behind Covert Assassinations In Iran

    Mainstream media headlines both in US and European media often portray as an ‘aggressor’ and ‘terrorist state’ while simultaneously presenting Israel as purely the victim each instance there is escalation.

    But arguably Iran has been somewhat restrained in responding militarily to Israel after having endured covert assassinations of some of its top scientists and military officials stretching back over a decade. This has been a war waged between the shadows: Iran supports several proxies throughout the Middle East, including Hamas and Hezbollah, while Israel has sent intelligence assets and hit squads to strike Iranian officials swiftly and suddenly.

    Aftermath attack that killed prominent Iranian scientist Mohsen Fakhrizadeh outside Tehran in 2020, via Reuters.

    There have also been a series of Israeli sabotage attack targeting Iranian nuclear sites and infrastructure over the past years. Below is a list of assassinations of prominent Iranians which have been linked to Israeli intelligence (and it is believed some covert operations may have been carried out with the help of US intelligence).

    * * *

    Middle East Eye takes a look at the assassinations in Iran that were attributed to Israel. 

    Masoud Alimohammadi

    In January 2010, Masoud Alimohammadi, a professor specialising in particle physics at the University of Tehran, was killed by a remote-controlled bomb that had been attached to a motorcycle near his home.

    He was a supporter of the Iranian opposition movement, which led some to accuse Tehran authorities of carrying out the assassination. 

    However, Tehran’s chief prosecutor blamed the CIA and Mossad, pointing out that Alimohammadi was a nuclear scientist, and the US and its allies were attempting to curb Iran’s nuclear programme. 

    The US State Department described the accusations as “absurd”. 

    Iranian authorities arrested several suspects in his killing, accusing them of working for the Israeli intelligence service.

    Majid Shahriari

    Ten months after the killing of Alimohammadi, another nuclear scientist, Majid Shahriari, was killed in similar circumstances. 

    Shahriari was reportedly a member of the nuclear engineering department of Shahid Beheshti University in Tehran. 

    A motorcyclist pulled up to Shahriari’s car and attached a bomb, killing him in the explosion. His wife and driver were wounded but survived. 

    Then-president Mahmoud Ahmadinejad said the attack was “undoubtedly the hand of the Zionist regime” and its western allies. 

    Shahriari was a colleague of Alimohammadi, Al Jazeera reported at the time. 

    Darioush Rezaeinejad 

    In July 2011, the next scientist to be assassinated in Iran was Darioush Rezaeinejad.

    Two men riding motorcycles fatally shot Rezaeinejad and wounded his wife. An unconfirmed report in an Israeli intelligence publication said that Rezaeinejad had been working on a nuclear detonator.

    Iranian authorities rejected the claims, stating he was merely an academic. 

    An Israeli intelligence source told German publication Der Spiegel that Mossad was behind the attack. Israeli officials did not comment.

    Hassan Tehrani Moghaddam

    Hassan Tehrani Moghaddam was among 17 members of Iran’s Islamic Revolutionary Guard Corps (IRGC) killed during a blast in Tehran in November 2011. 

    Moghaddam had been described as the “architect” of Iran’s missile programme, and was crucial in developing artillery and missile units. Ayatollah Ali Khamanei was among those to attend his funeral. 

    Iran officially described the event as an “accident” during the routine transfer of munitions. 

    A source with close links to Iranian authorities told The Guardian the operation had been carried out by Mossad. Time magazine also cited a western intelligence source as stating that Mossad was responsible. 

    General Hassan Tehrani Moghaddam and a satellite image of the badly damaged military base at Bid Kaneh: Reuters

    Tehran dismissed such reports, with the armed forces chief of staff stating that “the recent incident and blast is not related to Israel or America”. Israel neither confirmed or denied its involvement.

    Mostafa Ahmadi-Roshan

    In January 2012, Mostafa Ahmadi Roshan became the latest Iranian scientist to be killed.

    A motorcyclist was once again used in the killing, riding up to Roshan’s car and attaching a magnetic bomb that killed the scientist and his driver. 

    Roshan was a professor at a technical university in Tehran and a department supervisor at the Natanz uranium enrichment plant.

    Then-vice president Mohammad Reza Rahimi blamed the attack on Israeli agents. 

    Abdullah Ahmed Abdullah

    The New York Times reported in November 2020 that deputy al-Qaeda leader Abdullah Ahmed Abdullah had been assassinated by Israeli agents in Tehran three months earlier. 

    Abdullah, also known as Abu Muhammad al-Masri, was allegedly killed by two Israeli operatives on motorcycles, at the request of the United States. 

    Miriam, the widow of Osama bin Laden’s son Hamza and Abdullah’s daughter, was also killed, according to US intelligence sources who spoke to the New York Times.

    Abdullah had been indicted in the United States for the 1998 bombings of its embassies in Tanzania and Kenya. 

    Iran, Israel and the US did not publicly acknowledge the killing. 

    Mohsen Fakhrizadeh

    Top Iranian nuclear scientist Mohsen Fakhrizadeh was gunned down in Tehran in November 2020. 

    Fakhrizadeh was renowned as the architect of Iran’s military nuclear programme.

    He became the face of Iran’s nuclear ambitions when named in the International Atomic Energy Agency’s 2015 “final assessment” of open questions about Iran’s nuclear programme and whether it was aimed at developing a nuclear bomb.

    According to the New York Times, a Mossad team killed Fakhrizadeh with a computerised machine gun that required no on-site operatives.

    The device weighed around a tonne and was smuggled into Iran in smaller parts and later reassembled.

    Hassan Sayyad Khodaei

    In May 2022, gunmen on motorcycles opened fire on a vehicle in Tehran, killing senior Republican Guard officer Hassan Sayyad Khodaei.

    Khodaei was killed by five gunshots, according to Iranian state media. 

    He was a member of the Quds Force, which was responsible for the Republican Guard’s foreign operations. Khodaei reportedly served in Syria. 

    Tehran blamed Israel for the killing and vowed revenge.

    Citing intelligence officials briefed on the matter, the New York Times reported that Israel had informed American officials that it was behind the killing.

    Tyler Durden
    Wed, 07/31/2024 – 20:25

  • 5 Reasons Why You Should Be Prepping Like Crazy Right Now
    5 Reasons Why You Should Be Prepping Like Crazy Right Now

    Authored by Michael Snyder via The Economic Collapse blog,

    A lot of people seem to think that the summer of 2024 is a time to party, but the truth is that this is a time when they should be feverishly preparing for the extremely chaotic times that are ahead of us.  I just don’t know what it is going to take for people to wake up and realize how late it is.  Donald Trump got shot and that shook people up for a few days, but that didn’t last for long.  Then there was a soft coup in the Democratic Party, and that got people fired up for a little bit, but that quickly faded.  Of course there is a small minority that is awake and that understands that we are living in truly historic times, but the vast majority of the population appears to be clueless. 

    The following are 5 reasons why you should be prepping like crazy right now…

    #1 As I have been warning for a long time, the results of the election in November will unleash a flood of negative emotion.  Whichever side loses is going to have a massive temper tantrum, and there is a very high risk that we could see widespread violence.  In fact, one recent survey actually discovered that 41 percent of Americans believe that it is likely that there will be a “civil war” within the next five years…

    The possibility that America could face another civil war soon is not too far-fetched for a lot of voters.

    The latest Rasmussen Reports national telephone and online survey finds that 41% of Likely U.S. Voters believe the United States is likely to experience a second civil war sometime in the next five years, including 16% who consider such a scenario Very Likely. Forty-nine percent (49%) don’t think another civil war is likely in the next five years, including 20% who say it’s Not At All Likely. Another 10% are not sure.

    #2 Armed conflicts are raging all over the globe.  The war in Ukraine continues to intensify, China has been threatening Taiwan, and the war in the Middle East could potentially escalate to an apocalyptic level by the end of this calendar year.  Meanwhile, riots, revolutions and civil unrest are erupting everywhere you look.  For example, it appears that Venezuela is right on the verge of erupting in flames…

    Venezuela has been engulfed by violent riots as opposition candidate Edmundo Gonzalez Urrutia announced he has proof he won Sunday’s disputed election hours after President Nicolas Maduro claimed he’d secured a third term in power.

    Thousands of enraged protesters flooded the streets of the capital and several other cities, chanting ‘Freedom, freedom!’ and ‘This government is going to fall!’ as they set fire to tyres and rubbish and organised barricades to block police vehicles.

    Security forces fired tear gas and rubber bullets into the crowds but were forced to recoil from Molotov cocktails and rocks hurled by the oncoming demonstrators, many of whom carried Venezuelan flags.

    #3 The world is facing a long-term food crisis that isn’t going to go away.  Global supplies of food are getting tighter and tighter, and the UN is reporting that hundreds of millions of people did not have enough food to eat last year…

    Around 733 million people faced hunger in 2023, equivalent to one in eleven people globally and one in five in Africa, according to the latest State of Food Security and Nutrition in the World (SOFI) report published today by five United Nations specialized agencies.

    #4 Many health experts are warning that it is just a matter of time before the next great global pandemic hits us.  A lot of people are keeping a very close eye on the bird flu, but I am also very concerned about the frightening outbreaks of Mpox that we have been witnessing in Africa.  According to the BBC, the Central African Republic is “the latest country in the region to declare an outbreak of the mpox virus”

    The Central African Republic has become the latest country in the region to declare an outbreak of the mpox virus.

    Infections have spread to the capital, Bangui, after being restricted to rural areas, health minister Pierre Somse said.

    He also told a local radio station that some families were hiding infected relatives due to stigma, thus increasing the risk to others.

    #5 I am entirely convinced that historic natural disasters will continue to be a major theme during the second half of this year and beyond.  Even here in the United States, there has been quite a bit of highly unusual shaking lately.  If you can believe it, one county in Texas has actually declared a state of emergency because it has been hit by more than 100 significant earthquakes within the past week…

    So many earthquakes have struck the west Texas county of Scurry in the past week – more than 100 at last count – local officials have declared a state of emergency.

    Scurry County Judge Dan Hicks wrote in his Friday declaration of disaster that since the first earthquake, registering magnitude 4.9, was felt the night of July 22, “damage has been found throughout Scurry County in businesses and residences.”

    The county’s buildings can handle a few quakes here and there, but the cumulative effects of so many small ones, punctuated by larger shaking, have become cause for concern.

    Right now, we are only experiencing the very early stages of “the perfect storm” that is now upon us.

    During the months and years that are ahead, things are going to get so much worse.

    I highly recommend stockpiling food and supplies, because it won’t be too long before our world goes absolutely nuts.

    Stocking up doesn’t have to be complicated.  At this point, so many people are buying emergency food that even Costco is stocking it on their shelves

    It’s the end of the world as we know it, and I feed fine — because Costco has an emergency dinner kit, dubbed “the apocalypse bucket” online, that lasts 25 years.

    The Readywise Emergency Food Bucket, which boasts 150 freeze-dried and dehydrated meal servings, has caused a stir on social media. With an online price tag of $79.99, the bucket boasts that it’s more than just food in its product description — it says it provides “readiness in the face of uncertainty.”

    The bucket features 80 entrees and sides, 30 breakfast servings and 40 drink servings that just need water to prepare, for a total of 25,280 calories. The meal options range from teriyaki rice, tomato basil soup and pasta Alfredo to cheesy macaroni and apple cinnamon cereal.

    The good news is that there are now millions of preppers in this country that are preparing for the apocalyptic times that are rapidly approaching.

    The bad news is that the total population of the United States is 333 million.

    When things finally hit the fan, most people will be completely and utterly unprepared, and that truly will be a nightmare scenario.

    *  *  *

    Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

    Tyler Durden
    Wed, 07/31/2024 – 20:00

  • Cars, Cows, & Condos: Just How Much Do Olympic Athletes Make For Winning Medals?
    Cars, Cows, & Condos: Just How Much Do Olympic Athletes Make For Winning Medals?

    With the Paris 2024 Olympics well into its first week, medalists – in addition to their medals and all the free condoms they can manage to use – are handed an official Olympics mascot and a “mystery” box containing the official event poster.

    But wait, there’s more!

    Cheung Ka-long receives his Olympic gold medal after winning the men’s foil title in Paris. Photo: EPA-EFE

    While the IOC doesn’t hand out prize money for winning medals, several countries hand out all sorts of bonuses, CNBC reports. Here’s a table showing who gets what, from where.

    Measured in US Dollars, gold medalists from Hong Kong, for example, receive $768,000 per medal – followed by Singapore at $745,000 and Indonesia at $300,000. Hong Kong’s massive payout is a 20% jump from the Tokyo Summer Olympics.

    US gold medalists receive just $38,000 per medal in comparison.

    There are already several competitors from Hong Kong who have won big payouts.

    This year, the city is slated for hefty pay outs due to an early crop of medals in swimming and fencing. Vivian Kong won Hong Kong’s first medal at the Paris Games, topping the podium in the women’s epee individual event. Fellow fencer Cheung Ka-long also won gold in the men’s individual foil event, while swimmer Siobhan Bernadette Haughey bagged a bronze medal in the women’s 200-meter freestyle.

    Singapore gives Olympic medalists 1 million Singapore dollars ($745,300) for gold, SG$500,000 for silver and SG$250,000 for bronze. The city-state has only dispensed the top cash bonus to one athlete: Joseph Schooling. The now retired swimmer defeated the United States’ Michael Phelps in the 100-meter butterfly at the Rio Olympics in 2016 to win gold. -CNBC

    Cars, Cows and Apartments

    In addition to, or instead of, cash, sever countries are giving athletes unconventional prizes, such as apartments or cars from both government and private companies. Kazakhstan, for example, is giving $250,000 per gold medal, $150,000 for silver, and $75,000 for bronze – as well as apartments.

    While Malaysia is offering $215,000 for a gold medal ($150k for silver, and $75k for bronze), some private companies are offering luxury-serviced apartments or additional cash. Plus, anyone who gets a podium finish will also receive a “foreign-made car,” according to local media reports citing the country’s Youth and Sports Minister, Hannah Yeoh.

    South Korean gold medalists receive pensions in addition to the prize money – and can choose either a lifelong monthly pension of a million won (US$762), or a lump sum of 67.2 million won (US$49,000). Silver medalists can receive 35 million won, and a bronze medalist will get 25 million won. Athletes may also receive free drinks and transportation (oh boy!). 

    Hong Kong‘s public transit operator MTR Corporation is giving free lifetime tickets to the city’s medalists.

    Besides 200,000 Polish zloty ($50,374) from the Polish Olympic Committee, Klaudia Zwolińska is also reportedly poised to receive a painting, a holiday voucher, a scholarship and a diamond for claiming silver in the women’s canoe slalom K1 competition.

    Olympians have often been gifted quirky tokens of appreciation.

    A local chain pledged that athletes who represented Malaysia at the Tokyo Games would get free food and teh tarik for life, according to local media. Teh tarik is a hot milk tea beverage that is popular throughout Southeast Asia. -CNBC

    And while Jpaanese table tennis player Kasumi Ishikawa was gifted 100 bags of rice after winning silver at Tokyo, Indonesian badminton gold medalists Apriyani Rahayu and Greysia Polii reporetedly received five cows, a meatball restaurant and a new house.

    Unfortunately for athletes from Great Britain, Norway and several other countries, they get nothing aside from their medals and bragging rights.

    Tyler Durden
    Wed, 07/31/2024 – 19:40

  • Green Day Frontman Slammed For Holding Up 'Trump Head' At Concert
    Green Day Frontman Slammed For Holding Up ‘Trump Head’ At Concert

    Authored by Steve Watson via Modernity.news,

    During a performance in Washington DC on Sunday, Billie Joe Armstrong, frontman for the band Green Day, was pictured holding aloft a representation of Donald Trump’s head, prompting swift backlash.

    The ‘head’ was a plastic Trump mask with ‘idiot’ written on it.

    The image was posted to a fan account on X:

    Considering not even three weeks have passed since an attempt was made to shoot Trump dead, the reaction has been one of disgust.

    As we have previously noted, Green Day have been ‘raging for the machine’ for some time now.

    Armstrong, now aged 51 but still sporting bleached hair as if he is a teenager, often changes the words of the song ‘American Idiot’ from “I’m not a part of the redneck agenda,” to “I’m not a part of the MAGA agenda.”

    Many have pointed out that the original lyrics of American Idiot were embraced by Americans at the time who stood in opposition to the warmongering neocon administration led by George W. Bush and Dick Cheney. Ironic then that Trump is the only President of the modern era not to have sent Americans to war.

    Armstrong clearly didn’t pay any attention to the reaction Jack Black and his Tenacious D band mate Kyle Gass received after declaring a desire that the shooter had not missed Trump just days afterwards.

    The band were forced to cancel their entire tour and leave Australia in the wake of the comments.

    *  *  *

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

    Tyler Durden
    Wed, 07/31/2024 – 19:20

  • Russia Holds 3rd Phase Of Tactical Nuclear Drills Same Day Ukraine Receives First F-16s
    Russia Holds 3rd Phase Of Tactical Nuclear Drills Same Day Ukraine Receives First F-16s

    Russia’s Ministry of Defense on Wednesday announced it has initiated its third and ‘final’ phase of drills to practice the deployment of tactical nuclear weapons. The exercises are being done in conjunction with Belarus, which has since last year played host to Russian tactical nukes, to the alarm and dismay of NATO countries.

    The first stage of nuclear drills occurred in May, and the second with ally Belarus in June, but the timing of this third iteration corresponds with Ukraine on Wednesday finally receiving its first batch of US-made F-16 fighter jets from European allies.

    Bloomberg is the first outlet to report the arrival of the F-16s, though Kiev officials didn’t immediately confirm the report. The past days saw several major outlets confirm an initial round of jets were ‘weeks’ away from arriving.

    “The first delivery of F-16 fighter jets from NATO allies has arrived in Ukraine, in a long-awaited move that may boost the war-torn nation’s ability to repel Russian attacks,” Bloomberg writes.

    “The deadline for the transfer of the US-made warplanes was the end of this month and it has been respected, according to people familiar with the matter, who spoke under condition of anonymity.” However, officials have said only a “small” number of jets arrived in this first transfer.

    In total Ukraine is expecting at least 79 F-16s to be sent after a more than year long Ukrainian pilot training program. The jets are being transferred from the Netherlands, Belgium, Denmark, and Norway. Ukraine still plans to house many of the jets at allied bases outside the war-ravaged country, to prevent them from being immediately attacked by Russian forces.

    This week has seen another important development and confirmation – the US plans to provide and equip the F-16s with advanced weaponry and modern missiles.

    Per reporting in the The Wall Street Journal, this will include air-to-ground AGM-88 HARM missiles, bomb sights, diameter bombs, AMRAAM advanced air-to-air missiles, and AIM-9X short-range air-to-air missiles.

    Footage of Moscow’s third phase of tactical nuclear drills held on Wednesday in cooperation with Belarusian armed forces…

    https://platform.twitter.com/widgets.js

    A US official told WSJ: “We are confident that we will be able to supply all of those, at least the critical volumes that they need.”

    Russia, including President Putin himself, has long noted that NATO F-16s are capable of carry tactical nuclear weapons. Russia previously said it will have no choice but to assume each F-16 could be armed with nukes. Putin has warned of “serious consequences” after the Kremlin previously said that NATO bases from which these jets are deployed could come under attack. 

    Tyler Durden
    Wed, 07/31/2024 – 19:00

  • Project 2025: The Good, The Bad, & The Frustrating
    Project 2025: The Good, The Bad, & The Frustrating

    Authored by Connor O’Keefe via The Mises Institute,

    Anyone following the 2024 presidential election has undoubtedly heard about the political establishment’s latest villain, Project 2025. This policy agenda — technically named the 2025 Presidential Transition Project — was produced by a group of conservative policy analysts, most of whom are associated with the Heritage Foundation.

    The project centers around a 900-page book meant to provide the next Republican administration to win the White House with a plan and guide for implementing conservative policies at the helm of a federal government staffed with people who almost universally oppose those policies.

    In recent months, Project 2025 has exploded to the forefront of political discourse. Democrats like Kamala Harris are presenting the agenda as an evil scheme concocted by Donald Trump and his allies that is guaranteed to come to fruition, in full, if she loses this election.

    Donald Trump has disavowed Project 2025 and made a point to dismiss it as an irrelevant plan that’s unrelated to him and his campaign.

    The rift even reportedly caused project head Paul Dans to resign and Trump’s team to celebrate the “demise of Project 2025.” Yet the Democrats and much of the media are still conflating the Heritage-led project with Donald Trump in an effort to terrify Americans into voting blue.

    For their part, those involved in Project 2025 are leaning into the hysteria, with Heritage president Kevin Roberts, for example, implying on a podcast that the effort represents a second American revolution that “will remain bloodless if the left allows it to be.”

    Despite how prevalent Project 2025 has become in our political discourse, it’s remarkably hard to get trustworthy information about it. Almost all the rhetoric surrounding it either hysterically claims it will impose some kind of fascistic, theocratic quasi-slave state on the American people for a couple years before we’re all killed by climate change, or it’s a bold, tactful playbook that will solve just about all of America’s problems if implemented.

    In truth, Project 2025 does not warrant much hype or dread.

    The predominant 900-page book does contain several fantastic passages and sections.

    But most policy prescriptions presented in the massive volume fall far short of what’s required to address the many problems facing the American people.

    By far the best sections come mainly at the beginning where the authors lay out how the federal government actually works. The numerous White House offices are broken down in great detail, with an emphasis put on explaining which roles can and cannot be appointed by the president, along with how people in the various positions could derail the sitting administration’s policy ambitions. Similar analysis can be found in the later chapters on various executive agencies.

    This effort is clearly a reaction to Trump’s first term when a series of ill-advised appointments and a general lack of institutional understanding doomed most of the Trump team’s objectives from the start. The people behind this project are not only serious about avoiding the same mistakes in a second term but in actively maneuvering around and eliminating the entrenched bureaucratic resistance.

    With its nonspecific language, the opening chapters of Project 2025’s book provide an excellent guide for any presidential team that voters send to the White House on a platform to which the permanent, unelected bureaucracy stands in near-total opposition. This is required knowledge for anyone who is serious about rolling back federal power, and it alone makes Project 2025 a valuable resource in the struggle against the political establishment.

    That said, things start to go downhill as soon as the authors turn to the specific policies they want the next Republican administration to implement. To be clear, there are some very good policies laid out. For example, the authors call for winding down Fannie Mae and Freddie Mac, abolishing the federal sugar program, and eliminating the Department of Education. There is also a fairly decent chapter on the Federal Reserve, which Jonathan Newman reviewed last week.

    But most of what the authors call for is frustratingly moderate. In almost every single case, the highly publicized plans to cut federal agencies like the Department of Homeland Security are, in fact, calls to keep everything those agencies do in place but to move the offices in question to other federal agencies. In other words, the authors of Project 2025 are mostly planning to reorganize, not cut, the federal government.

    There is lip service paid to actual rollbacks of federal power. But typically, the authors quickly dismiss such ambitions as impossible and instead spend most of their time theorizing about how conservatives could steer the federal Leviathan to push their preferred social and cultural values if they took full control of the executive agencies. The authors never explain why rollbacks — which they claim to prefer — would remain impossible if their assumption of a total conservative takeover came true.

    Foreign policy-wise, Project 2025 is much closer to Bush-era neoconservativism than the populist, “America First” brand its advocates and opponents attach to it. Various authors accuse the federal government of being weak on China, Iran, Venezuela, North Korea and Russia. A Project 2025 foreign policy can be boiled down to spending more money to act even more aggressively in the Pacific, Middle East, South America and Eastern Europe under the ahistorical assumption that it will get each of these “hostile foreign regimes” to calm down.

    So overall, the policy vision of Project 2025 is much more familiar and moderate than the rhetoric surrounding it would have you expect.

    In theory, it might make sense to pair sweeping institutional changes that create opportunities to later roll back the administrative state with moderate policies that wouldn’t generate a complete freak-out from the progressive left and political establishment. But, as we see today, in reality, the freak-out happens nonetheless.

    And so, if the left and the political establishment are going to call you crazy radicals anyway, why not push for the kinds of sweeping changes that are actually needed to address the many problems we face? For some of the authors behind Project 2025, it could very well be because they do not actually want to cut government spending or roll back Washington’s power.

    But for those who understand that significantly slashing the bloated, corrupt, often malicious federal government is the only way out of many of our national predicaments, Project 2025 remains, in its current form, woefully inadequate.

    Tyler Durden
    Wed, 07/31/2024 – 18:40

  • China Now "Placates" US & NATO With New Drone Export Controls Targeting Putin's War Efforts
    China Now “Placates” US & NATO With New Drone Export Controls Targeting Putin’s War Efforts

    One week after Ukrainian Foreign Minister Dmytro Kuleba met with his Chinese counterpart Wang Yi in China to improve dialogue between the two countries, Beijing announced broader export restrictions on drones and drone parts with potential military applications on Wednesday. In recent months, US and NATO officials have accused China of supporting Russia’s war machine by supplying Moscow with advanced drone technology for the modern battlefield in Ukraine. 

    The South China Morning Post reported that civilian over-the-counter drones, which can be reconfigured for the modern battlefield or used by terrorists, will now face export restrictions. 

    In a statement, the Ministry of Commerce explained that the decision was primarily based on preventing the use of drones in “the proliferation of weapons of mass destruction.” It noted that laser targeting sensors, infrared imaging equipment, high-precision inertial measurement sensors, and other critical sensors that can easily be mounted on the drone’s payload section will be placed on the export control list. 

    “The Chinese government firmly supports Chinese companies conducting international trade and cooperation of drones in the civilian area [and] oppose civilian drones to be used for non-peaceful means,” the ministry continued. 

    But in what appears to be a jab at mounting US tech sanctions by Washington, DC elites, the ministry also said, “We oppose the imposition of illegal sanctions on Chinese companies and individuals by certain countries using the excuse of [proliferation of weapon-capable] drones.”

    SCMP said the new directive issued today will go into effect on September 1. 

    In recent months, unnamed senior US officials have been quoted by MSM, explaining how Russia has purchased drones and drone parts from Chinese companies that are being used on first and second lines in Ukraine.

    “Our view is that one of the most game-changing moves available to us at this time to support Ukraine is to persuade the PRC (China) to stop helping Russia reconstitute its military-industrial base. Russia would struggle to sustain its war effort without PRC input,” the official told Reuters in mid- April. 

    Goldman Sachs’ John Flood told clients this AM that China’s new directive is a sign that it’s “looking to placate the US and NATO by clamping down on its support for Putin’s war.” 

    Meanwhile, Putin will just go to Iran for drones…

    Tyler Durden
    Wed, 07/31/2024 – 18:20

  • L.A. Officials Reject Newsom Order To Clear Out Homeless Encampments
    L.A. Officials Reject Newsom Order To Clear Out Homeless Encampments

    Via Headline USA,

    Los Angeles officials are pushing back on California Gov. Gavin Newsom’s order this month to start clearing homeless encampments, arguing the effort to clean up the city’s streets won’t work.

    California Gov. Gavin Newsom, center, helps clean a homeless encampment alongside a freeway in San Diego. / PHOTO: Associated Press

    I do not believe that it is ultimately a solution to homelessness,” said Democrat Mayor Karen Bass, according to the Denver Gazette.

    “How are they supposed to pay for their ticket, and what happens when they don’t pay?” she continued. “Does it go into a warrant and give us an excuse to incarcerate somebody?” 

    Los Angeles County Supervisors Chair Lindsey Horvath agreed with Bass, calling the order to clear out homeless camps “unconscionable.” The solution to homelessness is not “arrest,” she insisted. “It is not pushing people from community to community.”

    Horvath also accused Newsom of setting a troubling precedent.

    “The criminalization of homelessness and poverty is dangerous,” she said. “It does not work, and it will not stand in Los Angeles County.”

    Newsom issued the executive order last month after the U.S. Supreme Court released a decision giving local officials more power to remove those illegally living on the streets and camping out in public parks.

    Local governments are not legally obligated to follow Newsom’s order, but failure to do so could result in critical funds potentially being withheld.

    This executive order directs state agencies to move urgently to address dangerous encampments while supporting and assisting the individuals living in them—and provides guidance for cities and counties to do the same,” Newson said in a statement. “There are simply no more excuses. It’s time for everyone to do their part.”

    Horvath warned Los Angeles officials would not tolerate a funding cut from Newsom’s government.

    “I don’t think that threatening funding at a time where we’re trying to get more people served and more people housed is a place that anybody wants to be in,” she said.

    California has the largest homeless population in the country, with more than 180,000 people in the state estimated to be living on the streets.

    Tyler Durden
    Wed, 07/31/2024 – 18:00

  • Kamala's "Indian-Caucasian-Jamaican" Birth Certificate Resurfaces As Trump Triggers Race Debate
    Kamala’s “Indian-Caucasian-Jamaican” Birth Certificate Resurfaces As Trump Triggers Race Debate

    Update (1745ET): As expected, the left is now in histrionics after Donald Trump suggested that Kamala Devi Harris might not be black, after he was asked a loaded question by an ABC News journalist Rachel Scott in front of the National Association of Black Journalists.

    To recap, Scott asked Trump if he thinks Harris is ‘only on the ticket because she is a black woman?’ to which Trump replied, accurately, that Harris has identified as an indian-American – which she openly campaigned on.

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    Not only did people start posting receipts…

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    …her birth certificate showing her parents being “Indian-Caucasian” and “Jamaican” has begun to circulate.

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    We assume the next chapter will be a vigorous debate over the blackness of Jamaicans, when the entire point is that Harris chose to campaign on being an Indian.

    And of course…

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    Meanwhile:

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    *  *  *

    Clips are going viral after Donald Trump sat down for an appearance before the National Association of Black Journalists – where he fielded extremely hostile questions from ABC News’ Rachel Scott, and got a rise out of the audience with several answers.

    “I want to start by addressing the elephant in the room, sir. A lot of people did not think it was appropriate for you to be here today,” said Scott, who then launched into an attack:

    You attack Black journalists calling them ‘a loser,’ saying the questions that they asked our quote, ‘stupid and racist.’ You’ve had dinner with a white supremacist at Mar a Lago resort. So my question, sir, now that you were asking black supporters to vote for you, why should black voters trust you, after you have used language like that?” Scott continued.

    To which Trump replied: “Well, first of all, I don’t think I’ve ever been asked the question, in such a horrible manner, first question. You don’t even say hello, how are you?”

    And I think it’s disgraceful that I came here in good spirit. I love the Black population of this country. I’ve done so much for the black population of this country, including employment including opportunity zones with Senator Tim Scott of South Carolina, which is one of the greatest programs ever for black workers and black entrepreneurs,” Trump continued, calling ABC News “a fake news network” – to which the audience could be heard cheering.

    I have been the best president for the Black population since Abraham Lincoln,” Trump continued to applause.

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    Trump then slammed Kamala Harris for allowing illegal immigrants to flood the country with illegal immigrants.

    When asked “Do you believe Vice President Kamala Harris is only on the ticket because she is a black woman,” Trump replied that Harris identified as an indian American until several years ago, adding “I’m not sure if she’s indian or black.”

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    Oh.

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    https://platform.twitter.com/widgets.jsTrump then discussed political lawfare against him – once again slamming ABC for a lack of coverage. When Scott then said she wanted to move on because she had ‘limited time,’ Trump said “you’re the one who held me up for 35 minutes.”

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    When asked about running mate JD Vance’s comments about ‘childless cat ladies,’ Trump suggested that Vance is a big fan of families. 

    Trump also addressed pardoning the January 6th defendants.

    We can’t help but wonder how Kamala Harris would do in a similarly contentious interview.

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    Tyler Durden
    Wed, 07/31/2024 – 17:48

  • US Will 'Certainly' Defend Israel If Attacked By Iran In Wake Of Haniyeh Killing
    US Will ‘Certainly’ Defend Israel If Attacked By Iran In Wake Of Haniyeh Killing

    Update(1855ET): More dangerous escalation coming from the Pentagon, at least in terms of declared ‘commitments’… how many wars or proxy conflicts does Washington want to be in at once? 

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    US Defense Secretary Lloyd Austin stated Wednesday, just hours after Hamas leader Ismail Haniyeh’s death, “If Israel is attacked, we certainly will help defend Israel.

    He issued the words aboard the USNS Millinocket during a visit to the Philippines. “You saw us do that in April; you can expect to see us do that again,” he said, in reference to the prior Iranian ballistic missile and drone attack in retaliation for the previous Israeli attack on Tehran’s embassy in Damascus.

    * * *

    Update(1550ET)Multiple Iranian officials have told the New York Times in a breaking story that Iran’s supreme leader, Ayatollah Ali Khamenei, has ordered retaliation against Israel for the brazen assassination by missile strike of Hamas leader Ismail Haniyeh which took place on Iranian soil in the early morning hours.

    Officials referenced the “humiliating security failure” and that Iran must once against show “strength against the risk of escalation” in exacting revenge on Israel.

    Khamenei has, according to the report, “issued an order for Iran to strike Israel directly, in retaliation for the killing in Tehran of Hamas’s leader” – three Iranian sources who were briefed on the matter said.

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    Russia is one among several nations urging calm and raising the alarm over a major regional conflagration:

    Russia warned Wednesday that the assassination in Iran of visiting Hamas leader Ismail Haniyeh threatened a full “global conflict” — as the terror group called it “a grave escalation” and Iran’s Supreme Leader Ali Khamenei threatened “harsh punishment” for Israel.

    “We resolutely condemn the attack that led to Mr. Haniyeh’s death,” Kremlin spokesperson Dmitry Peskov said soon after Haniyeh was killed in an airstrike while in Tehran for the inauguration of Iran’s new president.

    “We believe that such action is aimed against attempts to establish peace in the region, and could significantly destabilize the already tense situation,” he said.

    * * *

    Iran’s Foreign Ministry has issued a fiery statement saying that Washington must also bear responsibility for the Israeli attack which killed Hamas leader Ismail Haniyeh in Tehran in the overnight and early morning hours of Wednesday.

    “This terrorist act is not only a flagrant violation of the principles and rules of international law and the United Nations Charter, but also a serious threat to regional and international peace and security,” the Iranian Foreign Ministry statement began.

    “The Islamic Republic of Iran emphasizes the responsibility of the US government as a supporter and accomplice of the Zionist regime in the continuation of the occupation and genocide of the Palestinians, in committing this heinous act of terrorism,” it added.

    Hamas leader Ismail Haniyeh and Iranian Supreme Leader Ali Khamenei within 24 hours of the former’s death, Reuters

    The vague language of general ‘support’ to Israel leaves open the question of whether Tehran believes the US had an actual direct operational role in Haniyeh’s killing.

    However, Iran’s ambassador to the United Nations issued a more specific denunciation in tandem: “This act could not have occurred without the authorization and intelligence support of the U.S.,” it said in a letter submitted to the UN. According to fresh details of the strike:

    HAMAS SENIOR OFFICIAL AL-HAYYA SAYS A MISSILE HIT HAMAS LEADER ROOM AND ‘STRUCK HIM DIRECTLY

    Hours before the accusation, US Secretary of State Anthony Blinken definitively stated Washington had no involvement in the attack. 

    “This is something we were not aware of or involved in. It’s very hard to speculate,” Blinken told a regional outlet while on an official trip to Singapore. He had been asked about what he thinks will happen next in the region.

    Iran will more than likely retaliate in a big way, possibly with another wave of drones and missiles on Israel, but this time less telegraphed (compared to the initial April 13 attack, largely intercepted by Israel’s anti-air defenses)…

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    The aforementioned UN letter has also called for the UN Security Council to hold an emergency meeting over the Hamas chief’s killing. But likely the US and its allies will see this as a legitimate killing of a designated terrorist responsible for the atrocities against Israel on Oct.7.

    Meanwhile as Israel appears to be on an ‘assassination spree’, the body of Hezbollah’s military commander Fuad Shukr (and close advisor to Nasrallah) has been pulled from the rubble in Beirut.

    Regional sources say the death toll from the Tuesday strike on a southern neighborhood of the Lebanese capital has risen to five with at least 70 injured. Among the casualties were women and children.

    Tyler Durden
    Wed, 07/31/2024 – 17:45

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