Zero Rss

Hamas Announces Dissolution Of Gaza Government, But Israel Warns It's A Sham

Hamas formally announced Monday the final dissolution of its government in Gaza amid preparations to hand power to a technical committee backed by the United Nations as part of a Trump-brokered ceasefire deal.

The hardline Islamist group, which has fought Israel in a war for survival - especially since its brutal Oct.7 2023 terror attacks on southern Israel - has not indicated whether it will fully disarm, however. There's as yet no indication it will comply with handing over security to an international force. A fragile truce has remained in force, but there has been sporadic flare-ups in fighting over the last months, which has also at times seen renewed Israeli aerial assaults.

via The Arab Weekly

For this reason, the development has been met with mixed reactions, with Israeli officials asserting this is a deceptive PR stunt with no real significance. 

"The alleged resignation of the Hamas government, where all of the Hamas members stay in their positions, is a spin that has no significance," an Israeli official told the Times of Israel.

The response came on the heels of Ismail al-Thawabta, general director of the Hamas-run Government Media Office, having announced that "only technical and professional staff" would remain in their positions to run the Gaza Strip's daily administrative affairs.

"All employees working in service provision are 'state employees' and are fully prepared to work under the National Committee for the Administration of Gaza," he said at the press event held in the courtyard of Al-Aqsa Hospital in Deir al-Balah.

Additionally, Hamas spokesman Hazem Qassem touted that it marks "a positive step forward on the path to implement the ceasefire deal."

At the start of this year, back in January, special envoy Steve Witkoff said the second phase of the ceasefire plan would move the Palestinian enclave into a period that will see the demilitarization of Hamas and the establishment of a technocratic governance model.

This phase, now being implemented, is expected to also mark the start of reconstruction for the war-torn territory.

The Board of Peace, which is led by President Trump himself, issued a fresh statement linking any legitimate handover of power with a handover of weapons. "The core principle remains one authority, one law and one weapon," the board said on X. "This means the consolidation of all weapons under the control of the NCAG as provided for in the Comprehensive Gaza Peace Plan and United Nations Security Council Resolution 2803," it continues.

We have taken note of the announcement today regarding the dissolution of the “Emergency Committee” in Gaza. Ultimately, our assessment will be guided by actions, not promises, to meet the critical needs of the people of Gaza. Decisions must be comprehensive with respect to the…

— Board of Peace (@BoardOfPeace) July 6, 2026

"A genuine transfer of authority must enable the NCAG to exercise its mandate independently, including taking the administrative and governance decisions entrusted to it," the statement says, which strongly suggests the Board of Peace itself is also skeptical of the Hamas announcement.

As for the committee which is to assume responsibility in the interim, the Associated Press describes that "The committee of technocrats, which is based in Cairo, is chaired by Ali Shaath, a Gaza-born engineer and former official with the Palestinian Authority. It has a mandate to restore essential services and oversee civilian affairs under the supervision of the U.N. and Board of Peace." At this point Hamas militants probably worry they will be massacred if they give up their arms. For this reason not all armed members are likely to agree even if they are ordered to lay down their weapons by commanders.

Tyler Durden Tue, 07/07/2026 - 04:15

Cuba's Entire Power Grid Collapses As Castro's Grandson Seeks Talks With Trump

Summary:

• Cuba's Power Grid Collapses 
• Castro's Grandson Ready To Talk With Trump 

Cuba Goes Dark

Hours after USA Today published an interview between one of its journalists and Cuban President Castro's grandson, Raúl Guillermo Rodríguez Castro, the communist-run island experienced an island-wide power grid collapse.

The electrical workers' union said the entire power grid went offline and that officials were investigating the cause. Cuba's energy ministry confirmed the blackout and said crews were working to restore service.

"A total disconnection of the National Electric Power System is occurring. The causes are being investigated," the electrical workers' union wrote on X.

🔴 #AHORA || Ocurre una desconexión total del Sistema Electroenergético Nacional. Se investigan las causas.

Se continuará informando al respecto. pic.twitter.com/F7ksTBTakO

— Unión Eléctrica de Cuba (@OSDE_UNE) July 6, 2026

Time is ticking for the communists in Havana to make a deal with Trump or face further economic collapse, as Havana is a case study in the failure of communism and how that economic system has never succeeded. Yet the Democratic Party is trying to convince people otherwise as it embraces the far left.

"I Can Negotiate": Castro's Grandson Says He's Ready To Discuss Cuba's Future With President Trump 

Raúl Guillermo Rodríguez Castro, former Cuban president Castro's grandson and one of the more important shadow figures inside Cuba's communist ruling circle, told USA Today in an exclusive interview that he is prepared to speak directly with President Trump, signaling publicly a potential back-channel opening as the Trump administration intensifies economic pressure on Havana.

"I've never been interested in politics. It's never been a calling of mine," Rodríguez Castro told the outlet over the course of several days in June in Havana. "But if at some point the revolution needs me to step up, I will do it." He said that he would never abandon the principles of Cuba's 1959 revolution or the nation's sovereignty.

Rodríguez Castro is a lesser-known figure outside Havana's communist circles. He holds no formal government position, rarely appears on state television and has never spoken to a US news outlet before.

But the Castro family name gives him unique status inside Havana's opaque power structure and the ability to act as a back-channel liaison with access to the island's communist elite.

Now, the younger Castro is signaling he is ready to negotiate Cuba's future, saying he wants to deal directly with President Trump.

"I can negotiate with anyone designated by the U.S.," Rodríguez Castro said. "If given the opportunity, claro que con Trump." Of course, with Trump.

Why would Rodríguez Castro want to negotiate now and not earlier this year? Well, that's because Trump's gunboat diplomacy has unleashed an economic stranglehold on the communist-run island, and it continues to work, with pressure now crushing the already poorly managed economy and collapsing its tourism sector.

The island drew just 360,000 tourists in the first five months of 2026, down 58% from a year earlier, according to Cuban government data. The neighboring Dominican Republic attracted more than 10 times that number over the same period.

The Trump administration says the pressure campaign is aimed at forcing the communist government to open its political system after generations of economic misery under failed communism.

Havana can't turn to help from the socialists in Venezuela because the Maduro regime was taken out by US Delta Force operators. The Chinese and Russians won't dare send their militaries to the island en masse because of the US naval presence in the region.

For Havana, the regime's external lifelines have been disappearing one by one over the last six months.

Recall that CIA Director John Ratcliffe was recently in Havana meeting with communist officials. Now, Rodríguez Castro speaking with a US media outlet is another promising signal, suggesting that back-channel talks are likely already underway as pressure builds on the island's ruling elite.

Tyler Durden Tue, 07/07/2026 - 04:00

UK Police Crack Down On Dangerous New Threat – People Standing Around Doing Nothing

Authored by Steve Watson via Modernity News,

British policing has reached new depths of absurdity and authoritarianism. Officers are inventing pre-crimes, harassing citizens for lawful filming or standing in public, and deploying to pubs to warn people off tweeting about councillors.

All while the same forces stand guard over brand-new taxpayer-funded houses handed to migrants and turn a blind eye to patterns of two-tier enforcement that have defined recent years.

In one widely shared incident, a female officer was caught on camera confronting a man peacefully filming in a public space.

?UK Police Threaten Arrest for "Future Crime" – Minority Report Comes to Britain

UK police officer threatens to arrest a man for peacefully filming in public, because his presence "might" wind people up and cause someone else to lose their temper.

This is straight-up Minority... pic.twitter.com/ODGxUvNYTm

— Skint Eastwood (@Skint_Eastwood1) July 2, 2026

In the footage she claims his mere presence "might" wind people up and lead someone else to lose their temper, threatening arrest to "prevent a breach of the peace."

No actual crime had occurred. No law was being broken. As the man pointed out, the logic is straight out of the dystopian story Minority Report: punish the law-abiding person in case an offence is later committed.

The man was simply exercising his right to record in public. The response is to treat him as the threat.

This is far from an isolated incident.

Another viral video shows a male officer with wild, agitated behaviour confronting a citizen for filming. He threatens arrest for a "technically public order offence," then pivots to demands for details, ultimately detaining the man.

Observers note the officer appears erratic, with exaggerated facial expressions and eye movements that have sparked widespread comment about his fitness for duty. The citizen was going about lawful business. The officer escalated without clear legal basis.

There's something seriously wrong with British policing. pic.twitter.com/lbezgwy6mP

— Or I'll just!! (@OrIlljust1) July 2, 2026

In Birmingham, police harassed a citizen journalist for filming in public, repeatedly citing "breach of the peace" while one officer grew visibly agitated and another followed the filmer continuing the same vague threat. The man being targeted remained calm and pointed out he was doing nothing illegal. The officers created the tension.

Calm down! Officer! ????????????

"I'll defend myself if you step out of line officer" ?????????????

Birmingham ???????

Out of control....
...Police Harass @AyAudits_c4n for filming in a public place and say he is creating a "breach of the peace" yet it is the Police officer that is clearly the... pic.twitter.com/ZBIiKdbuoU

— ANDY PUBLIC U.K (@Andypublicuk) June 21, 2026

Sheffield saw similar overreach. After police used significant force on a 17-year-old boy during a protest, slamming him into a metal bollard, officers then turned on a journalist filming the aftermath. They put hands on him solely for recording the incident up close. The pattern is consistent: document police actions and you become the problem.

?POLICE OVERREACH IN SHEFFIELD!

This is complete abuse of power by the police putting hands on someone just for filming!

This happened shortly after a 17 year old lad was slammed into a bollard by police protesting in Sheffield. https://t.co/A0Pahfwevg pic.twitter.com/DaR62xN0oj

— Gauci Reports (@GauciReports) June 18, 2026

Even standing still draws attention. London officers moved in on people simply standing around in a public square doing nothing.

London Police cracking down on the scourge of people standing around in a public square doing nothing. Meanwhile, violent barbaric migrants are stabbing people to death practically every day. pic.twitter.com/9oadZrUcA6

— m o d e r n i t y (@ModernityNews) June 14, 2026

A female Merseyside officer was caught on camera calling a man legally filming in public a "nonce." Public filming remains lawful. The verbal abuse was not. Calls for her dismissal followed, but the incident fits the broader climate where officers feel empowered to insult citizens exercising basic rights.

??? WATCH: FEMALE POLICE OFFICER CALLS MAN A "NONCE" FOR FILMING IN PUBLIC

Outrage as Officer 8614 of Merseyside Police is caught on camera verbally abusing a member of the public who was legally filming.

? Public filming is not a crime
? The officer's conduct is completely... pic.twitter.com/nMI2TuFsKP

— British Intel (@TheBritishIntel) October 26, 2025

Another citizen journalist was arrested at a Chesterfield hotel protest for alleged breach of Section 14. Critics argue the application was selective and aimed at silencing documentation of events authorities prefer not to highlight.

?BREAKING: AY AUDITS HAS JUST BEEN ARRESTED AT CHESTERFIELD HOTEL PROTEST ??

THEY HAVE ARRESTED HIM FOR 'BREACH OF SECTION 14'??

THE BRITISH POLICE ARE ARRESTING AUDITORS FOR FILMING ?? @AyAudits_c4n pic.twitter.com/iJvwCBpYeg

— BRITAIN IS BROKEN ?? (@BROKENBRITAIN0) November 30, 2025

When the situation is inverted and police are standing around or filming the public, complaints have ironically led to further harassment of the public.

Officers have grabbed people and demanded details for the "offence" of shielding their features on the street from facial recognition cameras. Covering your face while walking is not a crime. Yet compliance with mass surveillance is apparently now enforced with physical intervention.

UK Police are now grabbing and harassing people and even fining them for covering up their faces while walking down the street where their 'facial recognition camera' vans are. https://t.co/S8211DEs3V

— m o d e r n i t y (@ModernityNews) April 18, 2026

When not targeting cameras or idle citizens, officers turn to social media. In Chiswick, two policemen entered a pub, asked a man to step outside, and threatened him over a tweet criticising a councillor's plan to ban outdoor seating at pubs.

The officers admitted on camera that he had broken no law. Their visit was pure intimidation - a warning to watch what he posted about local officials. This is modern Britain: police resources deployed to police tweets rather than actual crime.

I am having a drink this evening with a friend in a Chiswick pub. Two policemen have just come into the pub and asked me to step outside. I have stepped outside and they have threatened me because I tweeted about a councillor banning seating outside pubs in Chiswick. They admit... pic.twitter.com/r7MDIIdgvc

— Alastair Hilton (@London_W4) July 2, 2026

Similar visits and warnings over "insults" or critical posts have been reported repeatedly. The message is clear: lawful criticism of those in power can bring uniformed officers to your door or local pub for a "chat."

?A man has been arrested in the UK for calling someone a 'muppet'

The Police are out of control.

I wish this was a joke.
It isn't.

Absolute insanity. pic.twitter.com/yHTXPtKFBL

— Basil the Great (@BasilTheGreat) September 8, 2025

?ANOTHER MAN ARRESTED FOR CALLING SOMEONE A 'MUPPET'

An altercation about who is blocking the highway results in the man walking away while saying the Policeman was 'an absolute muppet'

Next thing:??ARRESTED??

The Police in the UK are out of control https://t.co/X9XTLW5i6M pic.twitter.com/uBt0CkSRsW

— Basil the Great (@BasilTheGreat) September 9, 2025

?Man ARRESTED for RE-POSTING somebody else's post

Apparently this caused someone 'anxiety'

The man asks why am I being arrested when he posted it first?

The Police couldn't answer

The UK is a dystopia pic.twitter.com/Q0U6niqIGR

— Basil the Great (@BasilTheGreat) September 22, 2025

SEVERELY ILL MAN ARRESTED FOR COMMENTS ?

He's forcibly searched and handcuffed for making 'Offensive comments' online

They can't even tell him what the comments are for before saying they need to bring his medication with him.

The British Police are drunk on power. pic.twitter.com/oLXSbZqnlw

— Basil the Great (@BasilTheGreat) October 2, 2025

These developments arrive against a backdrop of documented two-tier policing. In Birmingham, three black individuals assaulted a white British teenager. Footage shows a female officer shielding the aggressors and directing aggression toward the white victim.

The attackers walked away. Multiple officers then swarmed the victim, used foul language, shoved him into a police car the wrong way, dragged him out after the botched attempt, and restrained him forcefully. A bystander trying to explain that the white lad was the victim was ignored.

West Midlands Police have been accused of trying to limit circulation of the footage rather than addressing conduct. When pressed, they reportedly reviewed material and found nothing wrong.

UK police are trying to cover up for arresting a White victim while letting his attackers go free

Thank God for Community Notes pic.twitter.com/PMqQP6SCMo

— Libs of TikTok (@libsoftiktok) July 3, 2026

The same pattern appears in Rotherham, where South Yorkshire Police used aggressive force against teenage girls at a school leavers' event - shoves, batons swung, girls knocked down, a punch, Tasers pointed. Rotherham carries the heavy legacy of grooming gang failures that saw an estimated 1,400 young victims, mostly native British girls, betrayed by authorities terrified of racism accusations. Now the same forces apply heavy hands to the daughters of those communities.

While officers invent reasons to arrest or intimidate native Britons for filming, standing, or tweeting, other resources are visibly committed elsewhere. Police have been filmed providing 24-hour guard for empty £250,000 new-build homes prepared for migrants.

Police on 24hr guard for empty 250k homes ready for migrants to live in.. crazy how they don't protect our own like this pic.twitter.com/EtDGS7bAfm

— Dpaudits (@dpaudits) July 2, 2026

?NEW: Footage of "asylum seekers" moving into their taxpayer-funded £250,000 houses in the quiet village of Stoke Heath, Shropshire.pic.twitter.com/d1C5fRItZn

— The Mercian (@TheMercianNews) July 2, 2026

This is not policing in any traditional sense. It is selective enforcement that protects certain groups and narratives while treating ordinary citizens exercising their liberties as the threat. Pre-crime logic, facial recognition enforcement, pub visits over tweets, and aggressive handling of native Britons in disputes all point to the same direction: a state that has lost sight of its duty to the people it serves and has instead become an instrument for managing dissent and demographic change.

The public is noticing. Trust is eroding. When officers spend time threatening people for holding cameras or posting opinions rather than confronting real violence, the social contract frays.

Britain deserves police who protect lawful behaviour, not invent crimes to justify targeting it. Until that changes, the dangerous new trend will remain the one the authorities have embraced: treating the governed as the problem.

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 Tue, 07/07/2026 - 03:30

Lithuania To Lift Ban On Nuclear Weapons, Following Finland

First it was Finland which lifted its ban on the deployment of nuclear weapons, declaring its willingness to host NATO's arsenal (which is largely provided by the US), and now Lithuania has become the latest European country to move to do the same.

Lithuania, which has been a NATO member state since 2004, has newly declared its willingness to be part of the alliance's nuclear sharing program. "We would like to be the integral part of this nuclear deterrence," Lithuanian President Gitanas Nauseda said at a conference in Berlin on Friday, according to AFP.

Source: Baltic Defence College

"A few days ago, I initiated a constitutional amendment to remove the existing restriction on the possible deployment of nuclear weapons in Lithuania," Nauseda added.

Soon on the heels of this speech, a group of 50 Lithuanian lawmakers submitted an amendment, but which is still expected to be formally presented before parliament.

Nauseda touted that there is "practically unanimous" support among lawmakers for repealing the ban outlined in Article 137 of Lithuania's Constitution.

“Almost all parliamentary faction leaders expressed the view that Article 137 has become obsolete and should not merely be amended but removed,” Nauseda said.

As for the current constitutional prohibition in question: 

Article 137 of Lithuania’s Constitution currently states that weapons of mass destruction and foreign military bases may not be located on Lithuanian territory.

Finland's parliament has already voted on its own reversal last month, after which Russia moved to secure more border areas with NATO countries.

This is expected to further severely impact trade and worsen official relations with these countries:

Russia has closed seven railway border checkpoints with Finland, Estonia and Latvia, according to a government decree published Tuesday.

The suspension, which takes effect July 1, halts the movement of individuals, vehicles and cargo through the designated rail crossings. Five of the shuttered checkpoints are located on the Finnish border, while Estonia and Latvia each have one crossing affected.

Officials have not disclosed the reasons for the closures or when the checkpoints might reopen.

In Estonia, the Ivangorod freight and passenger crossing will remain open, and in Latvia, the Sebezh crossing will also stay open. However, the closures leave Finland with no open railway crossings with Russia, which normally exports fertilizer to Finland by rail.

Finland shut its eastern vehicle and pedestrian border crossings with Russia indefinitely in December 2023 following an influx of asylum seekers.

Since the Ukraine war began, and in context of ratcheting tensions with NATO over its military support to Kiev, Moscow has steadily militarized its border regions with Baltic and Scandinavian states.

via BBC

The most significant source of NATO's nuclear-sharing program remains the United States. But lately France has expressed a desire to station some of its atomic arsenal in partner countries, and this could include in Finland, Sweden, Denmark and others.

Tyler Durden Tue, 07/07/2026 - 02:45

EU Parliament Banning The ESN Party Alliance Is A 'Realistic Scenario' Warns German MEP

Via Remix News,

For the first time in European history, an EU party alliance could be outright banned in the European Parliament, which would mark a major blow to democracy and rule of law.

The Europe of Sovereign Nations Group (ESN), which includes nine right-wing European parties, has been relentlessly attacked by the EU establishment since its founding in 2024. The ESN’s largest party member, the Alternative for Germany (AfD), has also been the target of efforts for an outright ban at the national level in Germany. While left-wing and establishment parties are struggling to implement a ban on the AfD in Germany, at the European federal level, democratic checks and balances and the rule of law are far weaker.

Now, the Authority for European Political Parties and European Political Foundations (APPF) is seeking to de-register the ESN, which would strip it of all its funding and de facto lead to the end of the party.

German MEP Alexander Sell of the Alternative for Germany (AfD) party is a founding member of the ESN and has since become the president of the Sovereignty Foundation (SF), the foundation formally associated with the ESN. He said he is speaking as the president of the SF and discussed the efforts his party is taking to fight this de-registration, how much of the APPF’s actions are an extension of the political warfare being waged against the AfD at the national level, and even touches on his own personal motivations for participating in politics as an AfD member despite the massive degree of personal attacks and even physical threats.

There is a lot of discussion about your party facing a potential ban from this European watchdog [Authority for European Political Parties and European Political Foundations (APPF)], but how realistic is it that your party will actually be banned in the near future?

It’s a realistic scenario because the authority — the European Authority for Political Parties and Foundations (APPF) — has the power to de-register parties. They register European parties and they also have the authority to de-register a European party, and that is what they are planning to do.They have a couple of accusations against us. They have a 300-page dossier on our party.

So they will start the investigation, but they will give us the chance to answer the accusations. And then they have the authority to ban our party.

And do you have any idea of what the political leanings of the people in this watchdog are? Does your party view a negative outcome as already a foregone conclusion?

Well, there are some indications that this is a political maneuver, because the director of this authority, [Pascal Schonard,] is German and he used to work for the CDU.  He was a member of Klaus Welle’s cabinet. For almost a decade, Klaus Welle was Secretary-General of the European People’s Party and the EPP–ED group in the European Parliament.

So I think there are political intentions behind this attempt to de-register our party. But still, I don’t think it is 100% guaranteed, because in the end you have to acknowledge that on the European level there are many parties like ours. There is a shift to the right all over Europe.You have governments — for example in Italy, the Czech Republic or Slovakia — that are led by patriotic forces. So I don’t think it will be that easy.

The majorities in the European Parliament are also shifting to the right because that is what voters want.They want patriotic, realistic and more free-market-oriented policies, and that is what we are seeing on the European level. We want to get rid of bureaucracy, we want to get rid of climate policy, we want to secure our borders — and we have majorities for that.

So I think this attempt to ban our party will not be easy, because European voters are demanding something else.I mean, you have to take into account that the AfD is the strongest political party in Germany, polling at around 29%, which is a large margin ahead of the CDU. So I think it will be very controversial to ban our European party.

But what real checks and balances are there if they move forward with a ban? Would you appeal?

Yes, we will appeal the decision by the authority. Definitely. And I think we have good reasons to appeal, because what they are accusing us of is that we are not respecting European values. Well, I don’t agree with that. We are very democratic — the AfD is very democratic. Our partner parties from other countries are very democratic. We would never come up with the idea of banning political competition. That is not how we work. We are working for democratic majorities.

So I think we are respecting European values of democracy in a more serious manner than other parties. Also, talking about the rule of law: we have always criticised the European Union for breaking its own laws. For example, in the attempt to rescue the euro and in the migration crisis, they violated the laws that the EU itself had decided on — and that is what we have criticised from the beginning.

So I would say that we are actually the defenders of the rule of law within the European Union, and those are the arguments we will bring forward in court if we have to appeal the decision by the European authorities.

So, during this appeal process, would your grouping be banned right away or would it continue to exist during the appeal?

The authority has the right to ban or de-register a party. So from the moment the authority takes a decision, our party is banned.

The efforts at EU level almost seem to mirror what is happening in Germany itself. Do you feel that this is simply an extension of what is already happening in Germany?

Yes, definitely. I think this is the easier route for them than banning the AfD at national level. There is less attention on the European political party, and in Germany they would need a decision by the Constitutional Court, which is harder to obtain than a decision by the APPF. So I think they chose to attack us at the European level.

There is also still no money for an AfD political foundation, even though this is normally standard for any political party of our size in the Bundestag, right?

Talking about the political foundations, just to give you an idea of the amounts involved: around 700 million euros per year is distributed to the political foundations of the CDU, SPD, the Greens, the liberals and the Communist party (editor’s note: Left Party).

These are incredible figures. They use that money, for example, to recruit in the universities. That is something we are not able to do, because they are denying us those funds and they keep changing the rules on how to obtain the money. It used to be available after two terms in parliament, and they changed it. They are still denying us that money, which puts us at a huge disadvantage, because we would have access to 60 to 70 million euros that we could use for scholarships in universities or to fund research.It is a really important instrument in the political debate, and we are being denied it on an unlawful basis.

That is the situation. You have to understand: they are still talking about banning the most successful party in Germany, according to the polls. We are the strongest party in the polls by a large margin, and the losing parties are seriously considering prohibiting our party and calling it “protecting democracy” while actually prohibiting democracy. That is the situation in Germany.

I think it is an unprecedented case, and it shows that true democracy is still not very well established in Germany, unfortunately.

[Chancellor Friedrich] Merz has already said that he did not want to ban the AfD because it “stinks of attacking a political rival.” There would also be electoral consequences for the CDU, since knocking out the AfD could create a huge vacuum that the left would fill. The CDU could then be sidelined. Do you think it is realistic that the CDU will go along with this?

I think at national level they will not, because there is also international attention on this case. The Americans and others around the world are watching what is happening in Germany. It would be a huge scandal, and I think it would seriously weaken Friedrich Merz’s position internationally if he ended up abolishing democracy in Germany. So I don’t think they will go that far.

But at European level it is a different story. I think the CDU itself — or at least a majority within the CDU delegation in the European Parliament — would very much go along with it. On the other hand, I see that the EPP is not united on this.

You have to remember that some members of the EPP, such as Forza Italia and the Partido Popular in Spain, are already in coalition with right-wing parties — members of the Patriots for Europe or the ECR. So the so-called cordon sanitaire, the firewall as it is called in Germany, is not working at European level.

I think the same will apply to this decision to ban us: they will not have all their EPP members on side. Many of them, especially outside Germany, realize that voters want different policies and that we are driving these new policies. They understand that cooperation will eventually be necessary — and they are already seeing this in Italy, Spain and France.

You had the deportation regulation, where a French MEP worked together with one of our MEPs. So to go so far as to prohibit, for the first time in history, a European political party would create tensions inside the EPP — and rightly so. I hope there are still some democrats left within the EPP.

The APPF even cited the term “remigration” as a basis for this ban. But this term is also being used by the Patriots for Europe grouping. How long before that party is targeted in the same way?

Well, we could talk about a lot of comments. If you look at the left, the way they talk about Israel and the right of the state of Israel to exist, you could also argue that this goes against the idea of human dignity. The same applies to slogans like “From the river to the sea.” It is not as if accusations could not also be made against other parties.

These terms are so vague that you could find something against almost any party. They researched statements by members of our national member parties long before we even founded the ESN. So they are holding us responsible for comments made years ago, when the ESN did not even exist.It is the same for all the other European parties — including the EPP and the Social Democrats.

You will always find some member somewhere, perhaps in Spain or Slovakia, who has said something that could be argued to go against “European values.” It is simply a question of resources. This authority has the resources to produce a 300-page dossier, and we do not. But it would be easy to produce a similar report on any other European political party.

I understand that your grouping wants to give its members freedom of speech and that there are probably differing views among the parties in your grouping. But how much can this watchdog punish the entire party for comments made in the past by individual politicians?

Well, that is exactly what we are doing. I do accept that, as a European political party — and this is also in our statutes — we have to ensure that our national member parties adhere to so-called European values. I also share these values: the rule of law, democracy and respect for human dignity.I think we need better methods to ensure we can sanction members who contradict these values, so that our national parties respect them.

That is what we are doing. We changed our statutes last Friday at a general assembly. For example, we expanded the board. Until now we did not have a representative from each member party on the board. Now we will have representatives of every national member party on the ESN board. So if something controversial is said or published in one of our member states, we will have a contact person we can talk to — someone who is also responsible for taking corrective measures.

We have implemented these changes because we recognize our responsibility for all our national member parties, and the new structure will allow us to intervene more effectively when necessary.

Just a personal question. AfD members and politicians face a constant stream of attacks, and this potential ban could be seen as an extension of that. In Eastern Europe, even parties considered more right-wing operate in a more right-leaning environment without a large Antifa scene that wants to set your car on fire. As an AfD politician, how do you deal with the psychological pressure of facing extremely high levels of personal attacks and even the threat of physical attacks on an almost constant basis?

One of the main characteristics of the German mindset is conformism — a conformism that can even extend to violence against non-conformists. That is what we are seeing now. They burn our cars, they attack our houses. They try to debank us. We are still looking for a bank account for the foundation.

For foreigners it is sometimes hard to understand how this can happen in Germany. Germany is a very conformist society: you are not supposed to step out of line. The AfD is stepping out of line because too many things are going wrong in Germany. It started with migration, well, actually it started with the euro crisis, I recently saw figures from UBS in Switzerland on average wealth distribution in Europe. Germany is behind Greece and far behind Spain, Italy and France — yet we remain the biggest net contributor to the European Union, even though we are significantly poorer than those countries.

If you travel to Italy, Spain or France, you can see there is more wealth there. But people are not allowed to say this.

The same applies to migration. The problems are obvious if you look at German cities, but we are not allowed to point them out. This is due to the very strong conformism in Germany. You are supposed to support the European Union, open borders and migration. You are supposed to support Ukraine against Russia. It is very hard for Germans to object to any of this.

This differentiates us from countries like France, which has a history of revolution, or the Anglo-Saxon world, which has a tradition of healthy mistrust towards government. Germans have very high trust in their government. They do not dare to criticize those in power.

That is one of the reasons I can live with the attacks and the social ostracism. I am convinced that we have the better arguments. People are suffering, and eventually the suffering will become so great that they will realize they have been betrayed by their government. They will understand that we were right from the beginning — and we are already seeing this in the polls.

In some eastern German states we are polling at around 42%, at least above 40%.This is also because East Germans have already experienced one government collapsing. They saw socialism fail and they saw that all the propaganda produced by the socialist regime was a lie. That is why they do not believe the propaganda of the current German government, and they are voting for the opposition — which is us.

Read more here...

Tyler Durden Tue, 07/07/2026 - 02:00

CIA Investigated Officers For Espionage Over Not Taking COVID-19 Vaccine: Lawsuit

Authored by Zachary Stieber via The Epoch Times,

The CIA has investigated thousands of personnel and contractors for not receiving a COVID-19 vaccine, according to a new lawsuit.

In 2021, then-President Joe Biden imposed COVID-19 vaccine mandates for federal employees and contractors. Shortly after, the CIA’s chief operating officer directed the CIA’s Counter Espionage Department to investigate all unvaccinated contractors and workers within the agency, plaintiffs said in the suit, which was filed on June 30 in federal court in Virginia.

“Any employee or contractor who refused the vaccine was treated by the Agency as a threat to the United States government and ordered to be investigated as the same,” the suit reads.

A cross-agency group established by former Director of National Intelligence Tulsi Gabbard learned in 2025 from a whistleblower of the order and asked for confirmation from the CIA. The CIA responded by confirming the investigation of thousands of employees and contractors, according to the legal complaint. The CIA declined to cite an authority for the investigation order.

James Erdman III, one of the unvaccinated employees, formally asked the CIA to remove all material from the investigations and information in employee files that stemmed from the probes, lawyers representing unvaccinated CIA employees said. The agency never responded, leading to the lawsuit.

Erdman, who worked with Gabbard’s group, recently testified to the Senate about the CIA spying on the group as it worked on a number of matters, including the CIA’s change in its assessment of the origins of COVID-19.

The suit seeks certification of a class of employees who did not take a vaccine and were investigated. Plaintiffs also want the court to declare the order from the chief operating officer illegal and force the CIA to remove any information yielded from the investigation from employee and contractor files.

The CIA did not respond to a request for comment.

None of the workers affected by the investigations has been fired.

“The fact that the investigation occurred in the first instance, and the fact that there has been no assurances that anything stemming from that investigation has been essentially wiped clean, it does, unfortunately, set conditions—precedent—for where if there is any reason or need to investigate any of these individuals at any future date, this could be used as a basis to do so,” Carol Thompson, one of the lawyers representing the officers, told The Epoch Times.

“So it kind of unfortunately puts them in—the employees and contractors—in a precarious situation where they otherwise never should have been.”

Feds for Freedom, a group cofounded by Erdman, is supporting the lawsuit.

“Federal employees serving at the highest levels of our national security apparatus should never face counterespionage investigations simply for exercising a personal medical choice,” said Olivia Degenkolb, vice president of the organization, in a statement.

“These officers were targeted solely for their vaccination status. That is unacceptable. We are seeking justice in federal court to protect their rights and ensure our government upholds the rule of law.”

Tyler Durden Mon, 07/06/2026 - 23:25

Zelensky Touts "Battle In The Sky" As Key To Winning Asymmetric Fight With Russia

Ukrainian President Volodymyr Zelensky has stated that the decisive phase of Russia's invasion of Ukraine has shifted from land and sea to the air, making the battle in the sky the determining factor of the war - at a moment Russia has begun to experience a fuel shortage crisis in many locales due to vital energy infrastructure having been struck again and again by inbound suicide drones.

Speaking to the Financial Times, Zelensky emphasized that the question of seizing territory now holds far less significance because Ukraine has entered the aerial sphere and has unleashed serious damage on Russian territory. The Kremlin has all the while maintained that its forces are advancing in the east, but Zelensky is suggesting this doesn't matter anymore as Ukraine has pivoted to asymmetric warfare.

"Today I believe victory in this war belongs to whoever is smarter. If you stop the enemy on the battlefield, if you stop the war on land, and if you deny him dominance at sea – as we did with our naval drones, driving the Russian fleet away – then the next battlefield becomes the sky," he said in the FT interview, published Monday.

Ukraine Defense Ministry

Zelensky described that "it matters far less whose territory is larger" and that "we have moved into the air domain. And in the air, we are already competitive." Russia is in the meantime close to achieving its goal of pacifying the four eastern annexed territories.

The remarks are clearly timed to appeal to Ukraine's 'successes' against Russia during the same week the major annual NATO summit kicks off in Turkey, with President Trump and other world leaders expected.

Zelensky, who will also be on the ground in Ankara, further told FT:

"If our partners do not abandon Ukraine financially, if our soldiers continue holding the front, if every kilometer of Russian advance continues to cost them tens of thousands – and sometimes hundreds of thousands – of personnel, then the decisive struggle will take place in the skies.

Because the skies will determine the outcome of this war."

President Trump has meanwhile newly claimed that that the end of the Ukraine war is closer than most people think. However, the two sides are not even close to getting representatives at the same table.

The president was questioned Monday on why Russia's Putin doesn't feel more pressure when the two talk, to which Trump replied: "I think he really feels pressure... he wants to put an end to this, and Ukraine wants to put an end to this. We are negotiating and we'll see if we can put an end to it."

Another record strike by Ukraine's long-range drone arsenal:

Record-distance strike: Ukraine hit Omsk oil refinery — the largest in Russia — located 2,700 km from Ukrainian territory. pic.twitter.com/HiicAABzos

— Clash Report (@clashreport) July 6, 2026

"I think we are much closer than people think," Trump continued. "President Putin wants this to end. I’ll tell you that very firmly. And President Zelensky really wants this to end now." He added: "We will succeed" - while affirming that this will be high on the agenda at the NATO summit.

The White House has been signaling a possible pivot back to a head-on diplomatic push to find an end to the conflict in Ukraine, which is now it its fifth year. The Iran ceasefire in the meantime appears to be holding, for now.

Tyler Durden Mon, 07/06/2026 - 23:00

Chinese National Madam Indicted For Running Brothels Out Of Boston Apartments

Authored by Frank Fang via The Epoch Times,

A Chinese national living in New York has been indicted for allegedly running a sex-trafficking ring out of several residential brothels located in Boston's Allston and Brighton neighborhoods.

The Department of Justice building in Washington on July 21, 2025. Madalina Kilroy/The Epoch Times

Liu Zengzeng, 40, of the Flushing neighborhood of Queens, was arrested in New York on July 1, the U.S. Attorney's Office for the District of Massachusetts announced on July 2.

Liu, who also goes by the name of "Bella," was indicted on June 24 on one count of knowingly persuading an individual to travel in interstate commerce to engage in prostitution and three counts of use of facilities of interstate or foreign commerce in aid of racketeering enterprises.

Prosecutors said Liu's alleged activities spanned 11 months, beginning in August 2025, during which she allegedly recruited women via foreign national middlemen. The women came from several countries, including China, Japan, the Philippines, and Vietnam.

The women would engage in commercial sex acts at apartments that Liu obtained through fraud via either altered or forged documents, according to prosecutors. The indictment identifies several addresses, including 365 Western Ave. in Brighton, 83 Gardner St. in Allston, and 50 Hichborn St. in Brighton.

In October 2025, an FBI task force carried out an operation targeting a website known for commercial sex listings, according to an affidavit, and identified a phone number that an agent acting in an undercover capacity called to negotiate a price of $600 for a sex act. The agent was then told to go to the Gardner Street address.

Before the FBI's undercover operation, the Boston Police Department had become aware of both the Western Avenue and Gardner Street addresses.

According to the affidavit, after receiving an anonymous tip in August 2025, Boston police investigated both locations. Nobody answered the door, but officers reported hearing people "running, whispering, and moving furniture" inside.

"At Gardner Street, a resident complained to [Boston Police] officers about men entering the building and going to the apartment on a regular basis, and that Asian women entered the apartment late at night," the affidavit states.

When the FBI undercover agent arrived at the Gardner Street location, an Asian woman who answered the door was "dressed in only a bra and underwear," according to the affidavit.

Inside the residence, the FBI task force found a living room with boxes of Kleenex and paper towels "stacked to the ceiling," along with two bedrooms, each containing a bed and a nightstand topped with bottles of lubricant and rolls of toilet paper.

The woman who answered the door told the FBI through an interpreter that she was from Japan and had traveled to Flushing, where friends told her to call a phone number to "make money," according to the affidavit.

The call connected her to Liu, the "boss," whom she knew as "Bella." Liu then directed her to Boston and arranged "dates" for her.

The Gardner Street apartment "continued to serve as a hub for commercial sex" after the FBI task force's operation, the affidavit said. It is estimated that there were 51 suspected sex buyers at the location from Oct. 31, 2025, to Nov. 2, 2025, based on surveillance footage, generating about $40,000 for the brothel.

The FBI task force, the Boston police, and the Massachusetts State Police executed a search warrant for the Gardner Street apartment on Nov. 9, 2025.

According to the affidavit, they encountered "two sex buyers and three naked or nearly naked Asian females," and seized nearly $15,000 in cash. Two of the females, speaking through an interpreter, said they came from Japan and that they kept only about half of the money from their "dates," while the rest would go to Bella.

The FBI task force carried out a similar operation in May. Inside an apartment at the Hichborn Street address, agents encountered three females - one from Japan and two from Vietnam. One had bruises on her "knees, legs, and feet" that, according to the affidavit, were caused by sex buyers.

"They were not allowed to leave the apartment," the affidavit states, referring to the three females.

As for how they had arrived at the apartment, one female said she had traveled to China, the Philippines, and New York to work at Liu's alleged sex operation, while another said she had traveled from Canada to New York before taking a "Chinese Uber" to Boston, according to the affidavit.

"Liu is a member of a sophisticated criminal organization with international ties, one that recruits and facilitates the travel of foreign nationals for the purpose of engaging in commercial sex," the affidavit states.

In total, U.S. authorities seized about $105,000 in cash during their investigation of Liu, the U.S. Attorney's Office said.

Prosecutors also alleged that Liu was receiving aid from New York's Supplemental Nutrition Program for Women, Infants, and Children and used it to pay for groceries while operating the brothels.

Liu is scheduled to appear in federal court in Boston on July 8, according to the U.S. Attorney's Office.

Liu's attorney didn't respond to a request for comment from The Epoch Times.

Tyler Durden Mon, 07/06/2026 - 22:35

Air Force Engineer Accused Of Cutting Down AI Cameras Becomes Unlikely Hero, Raises Thousands For Legal Defense

A U.S. Air Force engineer charged with allegedly destroying a series of AI-powered license plate surveillance cameras has become an unlikely cause célèbre among privacy advocates, drawing thousands of dollars in donations to help fund his legal defense, according to Yahoo News.

Jeffrey Sovern, a 41-year-old Air Force engineer and mechanic from Virginia, is accused of cutting down multiple Flock Safety license plate reader cameras. He now faces 13 counts of destruction of property, along with six counts each of petit larceny and possession of burglary tools.

The case comes as Flock Safety's automated license plate reader network continues to spread rapidly across the country. Supporters say the cameras help police solve crimes, while critics argue they create a growing surveillance network that tracks the movements of ordinary Americans and raises serious privacy concerns.

Yahoo News writes that opposition to the systems has intensified in some communities, with vandals reportedly using everything from spray paint and garbage bags to chainsaws to disable or destroy the cameras.

Sovern has made no secret of his views. In a GoFundMe campaign created to cover his legal expenses, he framed the case as a fight over privacy rights.

"My name is Jeff and I appreciate my privacy. I appreciate everyone's right to privacy, enshrined in the fourth amendment," Sovern wrote.

He said the criminal case has taken a significant emotional toll on him and those close to him, adding that the encouragement he has received online prompted him to launch the fundraiser.

Originally seeking $8,500, the campaign has gained momentum as news of the case has spread. It has now brought in more than $15,000 from over 400 contributors, far surpassing its initial goal.

In a recent update following a preliminary hearing, Sovern thanked supporters for helping bring attention to the issue.

"Thank you to those that had the time to show support this week!" he wrote. "We have seen a huge uptick in awareness of the system and this case."

He also urged supporters to continue advocating against what he called an expanding surveillance network, encouraging people to "reach out to the local governments and demand that these systems are taken down."

Tyler Durden Mon, 07/06/2026 - 22:10

Trump Says Walmart Will Slash Ground Beef Prices In "Huge Deal" For Consumers

President Trump said retail giant Walmart will slash prices on a range of products at his administration's request, including a 15% reduction in ground beef prices. The move comes on top of falling gasoline and diesel pump prices as the administration intensifies its affordability push and makes it clear that capitalists, not socialists, will solve the cost-of-living crisis.

"Walmart will, in particular, be dropping the price for a pound of ground beef by almost 15%, among many other products. This is a huge deal for the many millions of Americans who, smartly, shop at Walmart, which is truly patriotic," Trump wrote on Truth Social.

Trump continued, "My Administration is lowering prices that Joe Biden incompetently raised with the worst inflation crisis in history, a total disaster along with the Southern Border, the botched withdrawal from Afghanistan, and many other failures."

Ground beef prices have skyrocketed in recent years, reaching a national average just below $7 per pound, according to USDA data.

Prices have jumped from roughly $4 to nearly $7 over the last six years as a shrinking U.S. cattle herd tightened supplies, turning beef prices and the broader supermarket bill into politically charged topics for both Democrats and Republicans.

President Trump is attempting to solve the affordability crisis through normal market forces, including finding additional supplies wherever possible to lower energy and food prices. The administration has already shown a playbook for curbing food inflation, such as finding new supplies to bring down egg prices.

Socialists, meanwhile, have no serious medium- or long-term supply-side fix. Their answer is usually government-run grocery stores, price controls, or the seizure of production under the fantasy that food can simply be made free for everyone.

But without solving the underlying supply problem, those socialist policies only create shortages, rationing, and empty shelves - the same failed economic model seen in Cuba and other socialist hellholes. 

The Trump administration is likely to remain hyperfocused on affordability through the summer and into the midterms, as it seeks to show voters that market-based capitalism, not government intervention or socialist experiments, is the best path to lowering prices and easing household financial pressure.

Another source of the Biden-Harris regime's inflation was right in front of us the entire time: the millions of illegal aliens the previous administration allowed to invade the country. This was detailed in a new Federal Reserve Bank of Dallas report, which found that the influx of illegals contributed to a 30% increase in home prices and a 20% rise in rents over the period from 2021 to 2024.

Ramping up deportations may be one path towards achieving affordability.  

Want lower grocery store prices?

Deport 20 million illegals.

Want lower mortgage rates?

Deport 20 million illegals.

Want lower health and car insurance?

Deport 20 million illegals.

Want safer streets and communities?

Deport 20 million illegals.

Make sense yet?

— Steve 🇺🇸 (@SteveLovesAmmo) July 6, 2026 Tyler Durden Mon, 07/06/2026 - 21:45

NorCal Couple Scammed Of $18,000 From Fake Checks And Online Payments

A retired Northern California couple is speaking out after scammers allegedly drained nearly $18,000 from their checking account through a combination of counterfeit checks and unauthorized online payments, setting off a weeks-long battle to recover their money, according to ABC 7.

The couple first realized something was wrong after stopping at an ATM and noticing that their account balance was far lower than expected. A review of their bank records uncovered three checks they say they never wrote, along with 17 electronic transactions they did not authorize. The fake checks totaled more than $6,500, while the online payments added another roughly $11,400 in losses.

According to the couple, many of the payments were directed to accounts with Verizon, Capital One, and Wells Fargo that had no connection to them.

The report says that they immediately reported the fraud to Chase and closed the compromised checking account. The bank quickly reimbursed the counterfeit checks, but the dispute over the electronic payments proved much more difficult. The couple says they were initially asked to provide documentation showing they did not own the recipient accounts, a process that became frustrating because the other financial institutions could not discuss accounts belonging to other customers.

After filing a report with the local sheriff's office, they were informed their fraud claim had been denied due to insufficient evidence.

The case eventually drew the attention of a local consumer advocacy news team, which contacted Chase on the couple's behalf. After reviewing the matter again, the bank reversed course and refunded the remaining disputed funds, stating that it was able to credit the full amount after receiving the appropriate documentation.

Although the exact source of the breach remains unclear, the couple believes the fraud may have originated after they ordered new checks from a third-party printing company that required them to mail in a voided check. They suspect someone obtained their account and routing numbers during that process and used the information to produce counterfeit checks and submit fraudulent bill payments. The incident highlights how easily criminals can exploit the banking information printed on a paper check if it falls into the wrong hands.

Tyler Durden Mon, 07/06/2026 - 21:20

UAE Crude Output Nears Record High Following OPEC Exit Amid Surge In Chinese Buying

The United Arab Emirates raised ‌its crude output to near record highs above 3.8 million barrels per day in June, after the Gulf nation quit OPEC to escape production caps, Reuters reported citing two sources familiar with production data said on Monday. Bloomberg data showed even higher UAE exports, rising to 3.94mmb/d, just shy of the record hit in late 2025.

June's output was the highest since April ​2020, according to Reuters estimates, exceeding levels seen before the Iran war and providing an early ​vindication of the UAE's decision to leave OPEC and OPEC+ on May 1 ⁠to free production from quota restrictions.

The UAE told OPEC it pumped 2.11 million bpd of crude in May at the height of the conflict shut-ins, down from about 3.40 million bpd in February. The International Energy Agency, however, assessed a much higher production level for ​both months, seeing May ​output at 2.8 million ⁠bpd and February at 3.64 million.

Underscoring the supply surge, Abu Dhabi National Oil Company (ADNOC) has been selling crude through tenders at discounted prices, traders told Reuters. The rebound has outpaced that of ​other Gulf producers, many of whom have restored exports through the Strait ​of Hormuz but ⁠remain well below pre-conflict production levels.

Abu Dhabi has argued that years of investment in production capacity ​justified greater freedom to produce oil, with Energy Minister Suhail al-Mazrouei saying at the time of the OPEC exit that the UAE owed it to investors to supply what global markets required "without restrictions".

The jump in output comes as oil markets ​have shifted from concerns over severe supply disruptions during the Iran war, to worries about surplus supply. Brent crude, which hit a four-year high above $126 in late April, was trading at about $72 a barrel on Monday, ‌around levels ⁠seen before the outbreak of the Iran war in late February.

Other Gulf nations also saw a surge in output: combined crude and condensate exports from Saudi Arabia, the UAE, Kuwait, ⁠Iraq and Iran rose by more than 3.5 million bpd from May to 10.07 million bpd, Kpler ​data shows. Vortexa, another cargo analytics company, estimated June flows at 10.2 million bpd, up from 7 million bpd in ​May but still way short of the 16.5 million bpd a year earlier.

Saudi crude exports averaged 4.32 million bpd in June, according to Vortexa data, around 3 million bpd below February levels.
Kuwaiti output rose to 1.65 million bpd in June, roughly triple ⁠May levels ​but still nearly 1 million bpd short of pre-conflict production.
Iraq, ​OPEC's second-largest producer, exported about 780,000 bpd in June, roughly one-fifth of volumes shipped before the conflict, Vortexa data showed.

Since the June 17 agreement between the U.S. and Iran to halt the conflict and restore shipping through the Strait of Hormuz, the backlog of crude stranded in the ​Gulf cleared more quickly, leaving about 23 million barrels still to transit the waterway, said Kpler analyst Johannes ​Rauball.

Meanwhile, in a curious twist, Sparta senior oil market analyst June Goh said that Chinese teapot refineries have emerged as buyers in Adnoc’s latest oil tender, drawn by wider discounts amid a short-term glut. Adnoc sold about 18 million barrels of crude via in fifth tender for loading through August; Upper Zakum was the main grade sold, while some Das also changed hands.  

The observation in this tender is that the Chinese teapots are now out buying, whereas in previous tenders they were not even in the buyer list, indicating that the current discounts are now at a level that competes with Iranian and Russian alternatives.

According to Sparta, the current ‘mini-glut’ reflects mismatch of prompt availability vs usual trading window two months ahead, where Mideast barrels should now be trading for September loading instead. However, unless Asian buyers pile up to refill empty SPRs, these extra barrels will need to first fill up commercial storage and then relieve the pressure in arbitrage trades to the West.

It wasn't just China: California is also buying UAE oil - some cargoes of Adnoc grades moved to US buyers via private negotiations, with likely destinations to US West Coast refineries.

Brent-Dubai EFS doesn’t necessarily need to widen that much more because diving crude differentials are doing most of the heavy lifting to keep the arbs open into northwest Europe

Tyler Durden Mon, 07/06/2026 - 20:55

Has The Breakthrough Moment For Soccer In America Arrived?

The World Cup is turning into a major ratings boom for US broadcasters, with Fox Sports, Telemundo and Peacock drawing record audiences.

The US Men's National Team (USMNT) is currently 1-0 down against Belgium in a Round 16 match, a game that could mark a breakthrough moment for soccer in America.

About a month into the 39-day tournament, top matches featuring the US, Mexico, England, France and Argentina have helped drive viewership levels rarely seen outside NFL games, according to Fox Sports analytics chief Michael Mulvihill.

"The U.S. matches have out-delivered expectations, but what's been more surprising is some of these matches that are between nations where the American sports fan doesn't know a lot of players and they don't even have that much familiarity with the country itself. A lot of those matches have done really well," Mulvihill said, who was quoted by Variety.

The tournament's broadening appeal has been a boon for advertisers, with unusually strong multi-generational viewing.

The question now is whether the USMNT can secure another win and continue the momentum.

Even before tonight's USMNT results, UBS analyst Robert Krankowski believes that the breakthrough moment has already arrived.

America's youth appears to be highly engaged in the sport.

It appears that moment has already arrived. 

Tyler Durden Mon, 07/06/2026 - 20:30

Micron Breaks Ground On $9 Billion Hiroshima Memory Chip Plant

US memory giant Micron Technology on Saturday broke ground on the expansion of its factory in Japan's Hiroshima Prefecture, a ¥1.5 trillion ($9.3 billion) undertaking to produce advanced memory chips, Bloomberg reported. 

The Boise, Idaho-based company is building the facility in Hiroshima Prefecture to make chips such as high-bandwidth memory crucial for AI processors like Nvidia’s, with shipments to start around the summer of 2028. The Ministry of Economy, Trade and Industry has allocated up to ¥500 billion to help cover the cost.

The move is part of a global ramp up by memory-makers to meet relentless demand for artificial intelligence. Micron is building two leading-edge fabs in Boise and in January held a groundbreaking ceremony for a $100 billion production site outside Syracuse, New York, part of a pledge to increase DRAM production on American soil. South Korea’s SK Hynix and Samsung Electronics are also boosting manufacturing capacity. Meanwhile, Chinese memory maker CXMT, is preparing for what is set to be one of the biggest IPOs in Chinese history. 

Micron Technology Inc.’s factory in Higashihiroshima, Hiroshima Prefecture, JapanSource: Micron Technology Inc.

“Micron’s very first HBM production wafer — for the memory technology at the heart of AI — was made right here in Hiroshima,” Micron CEO Sanjay Mehrotra said during a ceremony attended by central and local government officials. “When American boldness meets Japanese craftsmanship, you do not get a compromise. You get the best in the world.”

The factory expansion in Japan will help Micron raise power and transmission efficiency in chips needed for AI services and self-driving vehicles. Along with funds to support research and development, the Japanese government has earmarked roughly ¥775 billion for the US company to date.

Japan’s support for Micron, now the only maker of DRAM within the country’s borders, has “invaluable worth,” said industry minister Ryosei Akazawa, who attended the ceremony. But should other overseas chipmakers seek to build factories in Japan, the country is ready to do “all that it can” to help, he said. And judging by the profit margins currently generated by memory companies, in many cases north of 80%, expect an influx of companies willing to be funded by Japan's government to make what is ultimately a cyclical commodity product.

Since 2021, Tokyo has set aside tens of billions of dollars of support for semiconductors and AI, seeking to gain leadership in a sector seen as central for national security. Last month, Prime Minister Sanae Takaichi released a roadmap targeting private and public investment into chips and AI to the tune of ¥101.6 trillion through March 2041, without giving a breakdown on how much would come from government coffers.

“The Hiroshima factory’s strength lies in its ability to quickly deliver cutting-edge and high-performance products to customers,” said Kota Nosaka, representative director of Micron’s Japan unit. “Creating next-generation chips here is directly tied to Micron’s strategy.”

Micron took possession of the Hiroshima factory when it acquired bankrupt Japanese DRAM maker Elpida Memory in 2013 (yes, there is a downside to the memory cycle too, as the world will soon realize).

Japan is home to many corporate linchpins in advanced chip materials and gear, but it has largely ceded leadership in finished semiconductors. Roughly 80% of chip materials the Hiroshima factory needs now comes from Japan, Nosaka said.

Tyler Durden Mon, 07/06/2026 - 20:05

"Reaching A Climax": Hedge Funds Turn Most Bearish On Yen Since 2007, As Former FX Czar Sees 20% Undervaluation

For much of the past year, when the USDJPY disconnected - initially playfully and then terminally - from 2Y yield differentials, FX traders have been asking when and how will this gaping divergence finally converge. Alas, that answer remains elusive still, even as the collapse in the yen has pushed the currency to a generational low, and become an increasingly political topic leading to a surge in Japanese bankruptcies, and a relentless battering of what little is left of Japan's middle class. 

Source: Japan Bankruptcies Surge To All-Time High As A Result Of Plunging Yen

And yet, despite the yen's push into what until just two months ago were seen as unthinkable lows by the BOJ no less (which promptly spent $50BN to prop up the currency this April when it touched 161), the fact that the Japanese central bank allowed the yen to resume its descent through the July 4th holiday despite the unprecedented divergence from fundamentals, where it is now about 25 big figures too cheap...

...  has encouraged hedge funds to keep piling on yen shorts seemingly encouraged by a theory proposed by Mizuho’s Jordan Rochester that the USDJPY has become negatively correlated to yield differentials, essentially representing the EM-ification of Japan (as Bloomberg reminds us, veteran currency traders will recall that we have seen this sort of thing before, via the “Japan premium” applied to short rates and swap yields around 1997-98 as the country’s banking sector was in the process of imploding).

Another source of pressure on smaller businesses may be foreign-exchange hedging, including the use of so-called reverse knockout options, according to Yuji Saito, executive adviser at SBI FXTrade. Such products are widely sold by regional banks as structured hedging products, particularly to small and regional importers seeking to minimize upfront option premiums.

Once the exchange rate reaches a preset knockout level, the option expires and the hedge ceases to provide protection. Companies needing dollars must then either purchase them in the spot market, enter into a new hedge - often at less favorable levels - or leave themselves exposed to further currency moves.

“The weaker the yen gets, the more importers roll into increasingly risky option structures,” Saito said. “Once the knockout level is breached, they are forced to buy dollars in the spot market, creating a negative spiral that puts even more downward pressure on the yen."

Analysts estimate that remaining reverse knockout levels are clustered between 163 and 170 yen per dollar, territory that many firms didn’t think the currency would reach as intervention from the central bank would likely be forthcoming due to the adverse economic impact of such unprecedented currency collapse.

“The number of knockouts could increase if the yen weakens further,” said Hiroyuki Machida, director of Japan FX and commodities sales at Australia & New Zealand Banking Group. “The situation is becoming significant for companies that are unable to pass on higher costs.”

And yet, despite the clear adversely consequences to both Japan's economy and society, the perception that Japan's new PM Takaichi doesn't want higher rates or a stronger yen, is leading to ever greater pile ups inside the short yen trade, which was clearly visible today when the latest CFTC Commitment of Traders data showed that hedge funds are most bearish on the yen since 2007, just before the housing bubble burst. 

An even more remarkable CFTC chart is the one showing non-commercial spec net positioning in the yen, which over the past two years has completed one of the most dramatic swings in history, from record bearish, to record bullish, and back to record bearish again!

The cherry on top was the overnight reco by the Goldman Sachs FX team which capitulated on its bullish yen bias, but instead now sees the currency dropping to a new 40 year low of 165 next. This is how the bank explained it: 

With USD/JPY near its weakest level in 40 years, intervention risk is elevated. But it can only have a short-lived impact if macro fundamentals continue to push in the other direction (as we’ve already seen this year). We think the trend higher in USD/JPY should extend, barring a negative US growth shock or a BoJ pivot towards more aggressive policy tightening—neither of which appears likely over the coming year. Therefore, we are revising up our USD/JPY forecast path to 162, 163, 165 (vs. 160, 158, 155 previously). Without rising recession risk or a pivot towards aggressive BoJ tightening, we think the trend higher in USD/JPY should extend and continue to favor it as a funder for high-carry EM expressions

So with the bulls capitulating and everyone already bearishly positioning, what happens next? Usually precisely the opposite of what everyone expects, since there is nobody left to add to the bearish side. 

Which brings us to the rare contrarian view: pushing back against those speculating that the currency might continue its slide - which as we showed above is pretty much everyone - Japan's former top FX official said the yen should be as much as 20% stronger than it is, or around 130 per dollar

“This isn’t about fundamentals anymore — it’s about how people’s expectations have shifted,” Tatsuo Yamasaki, who served as vice finance minister for international affairs a little over a decade ago, said in an interview Monday with Bloomberg. “But we are reaching a climax.”

Former vice financial minister of international affairs Tatsuo Yamasaki

“I wouldn’t be surprised if the yen were around 130 to the dollar. That’s honestly how it looks to me,” he told Bloomberg, an outcome that would lead to the liquidation of countless FX trading desks. 

Yet, as noted, he remains a lone hawk in a world full of yen bears. The slide along with a relatively tepid response from Japanese authorities has some speculating the rout may have room to run. Jesper Koll, expert director at Monex Group, and Calvin Yeoh at Blue Edge Advisors consider 200 and beyond within the realm of possibility should the Bank of Japan fall further behind in tightening policy.

Yamasaki, now a senior professor at the International University of Health and Welfare, doesn’t see that happening. The BOJ is likely to continue raising rates, while the odds of another Federal Reserve rate hike remain roughly 50%, making a further widening in the Japan-US rate gap far from certain, he said.

“As far as interest rate differentials, yes, the BOJ’s next move is definitely a rate hike, maybe followed by several rate hikes, while the Fed’s next move is still uncertain,” he said. Even if the Fed hikes, it will likely be a one-off move, he said.

“They’ve already issued the warning, and anyone who is still holding short yen positions knows that they risk being punished by an intervention - that is, being forced to unwind those positions,” Yamasaki said. “The finance ministry has already moved beyond the warning stage, and the authorities have demonstrated they’re willing to act.”

Yamasaki also downplayed concerns that Prime Minister Sanae Takaichi’s latest economic and fiscal policies point to a worsening of Japan’s fiscal position. Last month, Takaichi unveiled a growth plan featuring a 14-year, ¥370 trillion investment program combining private- and public-sector outlays, while projecting that Japan’s debt-to-GDP ratio will continue to decline even as the government commits ¥10 trillion in annual spending. The plan appears designed to pair an ambitious investment agenda with assurances of fiscal discipline.

Yamasaki said the market will have a much clearer picture of Takaichi’s fiscal and monetary policy stance later this year as the government compiles its budget for next year. “At that point, I think the market will recognize that there wasn’t a fundamental case for such a weak yen in the first place,” he said. 

Until then, however, Yamasaki said authorities should be prepared for a prolonged battle with speculators.

“If you’re facing a long fight, spending tens of trillions of yen every time the market moves isn’t the answer, because the currency will simply move back again,” he said. “The priority should be to prevent the yen from weakening much further. Once people come to believe that the fundamentals actually point to a stronger yen, I think the currency will appreciate on its own.”

Yamasaki added that “stealth intervention” — small-scale operations that avoid drawing immediate market attention — could be an effective way to keep speculators off balance. Having said that, Tokyo isn’t likely to get any help from its counterparts. He said it would be politically difficult for the US to join such efforts while maintaining its standard opposition to currency manipulation by other nations.
“Basically it’s not going to happen,” he said.

There is another reason why the BOJ will have no choice but to tighten soon: the 20Y JGB yield just hit a new record high overnight, rising 4bps to a new all time high 3.816%. It was 0 in 2019.

Ironically, Yamasaki headed the Finance Ministry’s foreign-exchange market division during a period when Japan was attempting to prevent the yen from doing the opposite, namely strengthening. Authorities spent about ¥35 trillion on intervention between 2003 and 2004 in that campaign. 

Even with Washington unlikely to jump into the market, Yamasaki doesn’t expect any pushback if Japan intervenes.

“I don’t recall a time when the US was on board with Japan’s intervention intentions as much as it is now,” he said, reiterating comments made recently by current forex chief Atsushi Mimura. In a Bloomberg interview last week, Mimura highlighted what he described as “closer-than-ever” communication between Tokyo and Washington on currency matters.

More recently, when the yen was foundering in September 2022, Yamasaki warned of intervention risk. Two days later authorities intervened to support the yen.

Tyler Durden Mon, 07/06/2026 - 19:40

White House Report Accuses Smithsonian Leaders Of 'Extreme Political Activism'

Authored by Aldgra Fredly via The Epoch Times,

A White House report accused leaders of the Smithsonian Institution of adopting an ideological framework that shifted the National Museum of American History away from its mission of historical education toward what it called an "extreme political activism."

People visit the Smithsonian Museum of American History on the National Mall in Washington, on April 3, 2019. Pablo Martinez Monsivais/AP Photo

The 162-page report, released by the White House Domestic Policy Council on July 4, alleges that the National Museum of American History - which is run by the Smithsonian Institution - "fails to substantively present America's founder and founding" in its exhibits.

The report states that the Smithsonian Institution, particularly the National Museum of American History, "cannot be trusted to tell America's story honestly and in a way that is inspiring, unifying, and worthy of our great republic."

"By the intention and at the direction of current museum and Smithsonian leadership, [National Museum of American History] has become the subject to institutional capture by a radical, activist ideology that is fundamentally opposed to telling the noble, honest story of the great country we know and love," it stated.

The council said the museum has not established any exhibit specifically dedicated to the Founding Fathers, the Second Continental Congress, the Declaration of Independence, the American Revolutionary War, or the nation's path to independence and the establishment of constitutional rule of law.

"Our central finding is not that the museum has simply added overlooked stories, corrected perceived errors, or broadened its historical scope," the report stated.

"Rather, it is that museum leadership has explicitly adopted an ideological framework that no longer treats the American story as a shared national inheritance to be taught or celebrated, but as a political instrument to divide, dispirit, and discourage our citizens."

A Smithsonian spokesperson told The Epoch Times by email that the institution "has served the American public with nonpartisan and independent scholarship" for more than 180 years and will remain "committed to doing so."

The National Museum of American History, located in Washington, was originally named the National Museum of History and Technology when it was opened in January 1964. The museum was renamed in October 1980 to better reflect its responsibilities.

According to its website, the museum's collection includes more than 1.7 million objects representing the nation's heritage in the areas of science, technology, society, and culture.

The White House report followed President Donald Trump's March 2025 executive order directing the Interior Department to ensure that public monuments "do not contain descriptions, depictions, or other content that inappropriately disparage Americans past or living."

The order states that many national parks promoted what it described as "distorted narrative driven by ideology."

"It is the policy of my Administration to restore Federal sites dedicated to history, including parks and museums, to solemn and uplifting public monuments that remind Americans of our extraordinary heritage, consistent progress toward becoming a more perfect Union, and unmatched record of advancing liberty, prosperity, and human flourishing," Trump stated in the order.

Tyler Durden Mon, 07/06/2026 - 19:15

2028 Democrat Presidential Hopeful Exposes Party Civil War Against Its Socialist Wing

Gov. Josh Shapiro sat down with Dana Bash on CNN's State of the Union this weekend and said the quiet part out loud: his party is being overrun by its socialist and far left flank.

Bash pressed Shapiro on Darializa Avila Chevalier, who won the Democratic congressional primary in New York’s 13th congressional district last month while running as an open socialist.

Chevalier's platform includes abolishing prisons, opening the borders, ending deportations, and granting mercy even to violent criminals. 

Bash also noted that Chevalier attended a pro-Palestinian rally on October 8, 2023, one day after Hamas terrorists slaughtered, raped, and kidnapped their way across southern Israel.

According to Bash, that rally featured antisemitic rhetoric defending the attack. Bash asked Shapiro how he feels, as a Democrat, about someone with those views heading to Congress.

Shapiro tried to have it both ways.

"Well, her district voted for her," he said. But that statement also came with a convenient disclaimer. "But I have profound differences from that particular candidate, based on the citations that you read there. And she's not someone who, you know, seemingly, I would agree with on many things, or that we share similar values. She ran on the Democratic ticket, I guess as a socialist; her voters in that district determined that she was the one they wanted representing them."

Note the hedge. Shapiro was describing someone who wants to shield violent criminals from deportation and who reportedly stood in solidarity with people cheering a massacre of Jews. Yet, the strongest word he could summon was "seemingly."

Bash followed up by asking what Chevalier's win says about the Democratic Party. Here Shapiro dropped whatever remained of the diplomatic pretense. "I think that what our party has to go through, that will be very healthy, and something that we've not really done since the 1992 elections, is to have a battle over what we believe in," he said.

CNN: Abolishing prisons, opens borders, ending deportations of criminals…what does that say about the Democrat Party?

SHAPIRO: “What our party has to go through that will be very healthy...is to have a battle over what we believe in.” pic.twitter.com/lncogDmeXl

— RNC Research (@RNCResearch) July 5, 2026

That's a rather pointed reference because 1992 is the year Bill Clinton dragged his party toward the center with promises of welfare reform and law and order, and Shapiro seems to be arguing that's the direction the battle needs to go again, which is clearly not the direction the party is going in.

Trump Derangement Syndrome has spent the better part of a decade radicalizing rank-and-file Democrats who once considered themselves moderates, and the party's growing communist and socialist wing has capitalized on that fever by dragging positions on wealth, taxes, crime, and immigration further left with every election cycle.

The party has also grown more hostile toward Israel, with some pundits arguing it has grown outright antisemitic. That climate may explain why Shapiro sidestepped Bash's question about whether his Jewish faith could complicate a 2028 presidential run. Meanwhile, fellow Pennsylvania Democrat, Sen. John Fetterman, has shown far more willingness to call out his party's antisemitic drift. 

Shapiro, being Jewish and a supporter of Israel, places him on a collision course with a Democratic base growing comfortable nominating candidates who marched in solidarity with people, justifying an attack that included the massacre of more than a thousand Israelis.

On paper, Shapiro is the strongest hand the Democrats hold: a two-time statewide election winner in a key swing state.

But the Democratic Party isn’t the same party it was in 1992, and Shapiro’s remarks on CNN made one thing clear: the party’s civil war is already underway.

Tyler Durden Mon, 07/06/2026 - 18:50

SBA, USDA To Combat 'Regulatory Abuse' Lawfare Aimed At Farmers And Ranchers

Authored by Naveen Athrappully via The Epoch Times,

The Small Business Administration (SBA) and the U.S. Department of Agriculture (USDA) have signed a memorandum to counter lawfare targeting rural communities, ranchers, farmers, and small businesses.

Ranchers work to evacuate cattle as the Gifford Fire burns nearby in Los Padres National Forest, Calif., on Aug. 4, 2025. AP Photo/Noah Berger

Lawfare refers to the strategic use of legal proceedings to hinder targets. The SBA's agreement with the USDA gives producers a "direct line to report the regulations and rules driving up costs and impacting productivity," the agency said in a July 2 statement.

It also enables the SBA and the USDA to "identify broader patterns of regulatory abuse to advance lasting deregulatory reform."

The USDA will run a centralized portal that will receive lawfare complaints involving federal agencies, which will be shared with the SBA's Office of the National Ombudsman. Any complaint involving the USDA will be handled by the department, while other complaints will be referred by the SBA to the appropriate agencies.

Under the agreement, the SBA is authorized to analyze complaint data to identify recurring lawfare practices, enforcement, or regulatory issues that are assessed as abusive or disproportionate. This is expected to provide insight that would guide deregulatory action for broader reforms.

In a July 2 X post, SBA Administrator Kelly Loeffler said the agreement between the USDA and the SBA lets "producers get back to what they do best: feeding, clothing, and fueling America."

"Family farms should not have to spend time and resources they don't have fighting crushing regulations or costly legal battles waged by radical anti-ag 'environmentalists,' whether they are inside or outside the government," she said.

In its statement, the SBA said the memorandum is in line with a January 2025 executive order signed by President Donald Trump, "Unleashing Prosperity Through Deregulation."

Trump said in the order that the "ever-expanding morass" of complicated federal regulations was creating "substantial restraint" on economic growth and hampering the country's global competitiveness.

For each new regulation issued by any agency, Trump ordered that at least 10 previous regulations be identified for elimination.

Commenting on the memorandum, Agriculture Secretary Brooke Rollins said: "This partnership with the SBA creates clear pathways for redress, ensures fairness in enforcement, and demonstrates that Washington stands with, not against, the hardworking Americans who sustain our country.

"Through the USDA Lawfare Portal and interagency collaboration, we are delivering real protection under the Farmer and Rancher Freedom Framework."

The Farmer and Rancher Freedom Framework is a plan aimed at protecting and preserving American agriculture while ending "onerous regulations" and the weaponization of government against ranchers and farmers, according to a Feb. 11 statement from the USDA.

The plan seeks to defend farmers and ranchers from politically motivated enforcement actions, protect agricultural lands from unnecessary federal projects, and remove burdensome rules that stifle productivity.

It also seeks to reform environmental laws to strike a balance between conservation and common sense.

Deregulatory Actions

The action against lawfare is one of the latest relief efforts aimed at farmers undertaken by the Trump administration.

On Feb. 2, the Environmental Protection Agency (EPA) issued guidance to manufacturers of farm equipment, clarifying that American farmers have the right to repair their own equipment.

The guidance said that manufacturers can no longer use the Clean Air Act to justify limiting farmers' access to repair tools or software.

"EPA is proud to set the record straight and protect farmers. For far too long, manufacturers have wrongly used the Clean Air Act to monopolize the repair markets, hurting our farmers," said EPA Administrator Lee Zeldin.

However, American manufacturers have opposed the right-to-repair rules. In a Sept. 22, 2025, statement, the Association of Equipment Manufacturers said that more than 50 companies met with lawmakers and congressional staff to push back against right-to-repair mandates.

They warned that legislation advancing such requirements stands to "hurt innovation, raise costs, and risk exposing sensitive trade secrets to competitors or foreign adversaries."

Meanwhile, on March 27, the EPA announced another rule aimed at benefiting farmers, removing the Diesel Exhaust Fluid (DEF) sensor system requirement for all diesel equipment. DEF is a solution injected into the exhaust systems of diesel vehicles to reduce nitrogen oxide emissions.

The EPA said there have been concerns among farmers and other diesel vehicle or equipment operators about DEF system failures.

Shutdowns and speed losses caused by such failures compromise the safety and productivity of operators, which are "unacceptable and problematic," the agency said, adding that removing the DEF sensor system requirement is expected to save farmers and truckers more than $13 billion annually.

Tyler Durden Mon, 07/06/2026 - 18:25

American Nuclear Energy: The Highest Ambitions And The Highest Costs

McKinsey published its take on the nuclear sector titled "Nuclear power: A renaissance in the making." The report starts by highlighting the bull cases for nuclear, such as AI data center demand, electrification, onshoring, decarbonization goals, and energy security concerns.

The firm goes on to reiterate their projection that global nuclear capacity could at least double and potentially triple by midcentury under net-zero scenarios, reaching as high as 1,200 gigawatts.

But, that's about as far as the happy feelings go. From there, it's a review of the disturbing cost of construction for nuclear energy in the US.

This isn't the first time McKinsey has laid out the case for the incredibly wide gap that needs to be filled in terms of investments and skilled labor to support a nuclear future. Our readers should recall their recent report projecting up to $170 billion of required investments for the domestic nuclear fuel chain just to support the US commercial reactor fleet.

While that report was followed up a few weeks later by Centrus Energy and Oklo announcing an agreement for domestic uranium enrichment to supply reactors in Ohio, a solution for actually expanding fuel chain capacity has yet to be presented.

So far, the US has done one thing in the nuclear industry better than any country in the world: Talking...

The problem outside of Asia has been glaringly identified as a lack of ability to coordinate the large consortium of companies required to construct large reactor plants. The ability to coordinate these mega-projects used to be in-house at the major US utilities, but that staff has increasingly atrophied over the recent decades as McKinsey lays out the difference between East and West enterprises:

“Historically, the “owner engineer” model in which utilities maintained strong in-house engineering and project-delivery capabilities was a major source of execution strength, particularly in the United States as well as in France and Japan. Over time, many utilities reduced internal engineering capacity and largely lost these capabilities. Today, European programs are led mainly by state-backed utilities that rely on government-supported financing; US plants are owned and operated by private utilities, backed by federal financing support and overseen by a federal safety regulator, and Chinese projects are vertically integrated state-owned enterprises that span fuel, equipment, construction, and operations.”

Vertically-integrated central planning setups apparently have its advantages in the nuclear renaissance…

The US certainly has no lack of demand for nuclear energy, and also no lack of federal support for getting it built. We've repeatedly covered these data points as the U.S. has pledged over $17 billion for new reactors from the DoE, up to $80 billion for nuclear in coordination with the DoC, and recent announcements to finish what was started at the VC Summer plant in South Carolina.

This begs the question of why is there no steel getting put in the ground? McKinsey points to construction costs:

“Construction costs account for the largest share of levelized cost differences between countries and this cost is composed of direct construction costs and the cost related to capital expenditure inefficiency … Compared to the South Korea benchmark, total construction costs add $50 to $60 per megawatt-hour to projects in France and the United States, while in China, these costs are approximately $3 less due to lower materials and labor costs.”

We've pointed this out repeatedly. The US simply does not have the headcount required to meet these ambitious goals of building out AI and new reactor plants…

And then there is the issue of where the US gets 300,000 engineers to build all this missing power supply by 2030 https://t.co/a18crhqZ4v pic.twitter.com/tinW8SHDwM

— zerohedge (@zerohedge) October 14, 2025

McKinsey sums up what the status of the US construction industry means for costs:

“Compared to South Korea, US construction labor costs adjusted for productivity are about 80 percent higher, and US concrete prices are roughly 200 to 250 percent higher.”

When it comes to determining what it takes to win and find the efficiency enjoyed by the South Korean nuclear industry, the playbook is incredibly straightforward. Just have the same people build the same thing over and over and over again…

“For instance, the Emirates has deployed a proven Korean design and associated requirements and regulations. That project also illustrates how programs that set design early, build multiple identical units on a single site, and keep the same Tier 1 suppliers from unit to unit reduce construction hours and rework. As teams repeated identical scopes, indirect services and owner’s costs fell sharply at the Barakah plant, helping reduce costs from construction of the first unit to the fourth by roughly 40 percent.”

The US wants to win the nuclear race, but it has shown itself (so far) to be incapable of organizing the builder-buyer consortiums required to execute.

Tyler Durden Mon, 07/06/2026 - 18:00

Tech CEOs: Just Kidding About That Jobpocalypse

For three years, everyone from Goldman, to Richmond Fed President Thomas Barkin, to tech CEOs have been forecasting mass unemployment due to AI wiping out jobs - which would only be accelerated by the proliferation of cheap(er) Chinese models. Ford Motor CEO Jim Farley said last year that AI would replace "literally half of all white-collar workers in the U.S." 

And while that may only be a matter of time, tech CEOs have changed their tune - albeit while facing public pitchforks over data centers, the cost of electricity, and their own forecasts of workforce doom.

OpenAI CEO Sam Altman

"Our industry underestimated how much we’re going to be able to keep people at the center of everything," OpenAI CEO Sam Altman said earlier this year. In May he told CNBC "We’ve been roughly right on technological predictions and pretty wrong on the social and economic implications."

Last year, Anthropic CEO Dario Amodei warned that AI could eliminate half of entry-level jobs. Now, however, Amodei has changed his tune - suggesting that AI can maximize productivity, the WSJ reports. "They can do the same thing with less resources, and that leads to things like layoffs, or they can do more with the same amount of resources. But that requires creativity," he said. 

In a June essay, the executive wrote that in giving warnings of job displacement, he wanted policymakers and the private sector to have the best chance at adapting—he wasn’t trying to be a “prophet of doom.” (He also wrote that the possibility of “enduring job loss” remains.) -WSJ

Meta CEO Mark Zuckerberg is also singing a different tune - recently saying that if employees can boost productivity faster than the rise of automation (lol ok), "in theory there should be more jobs in the future, not less." 

Even Ford has hired several hundred engineers that they attributed to concerns over the quality of work that had been automated - with one spokesman telling the Journal: "Engineers with deep technical expertise leveraging the power of AI is a powerful combination that is driving quality gains at Ford." 

And so, as the Journal notes, "Collectively, the narrative has shifted from worker-light doomsday scenarios caused by AI to a future in which workers keep their jobs - and get a productivity boost."

The sentiment change isn’t limited to tech leaders: A survey by EY-Parthenon found that the percentage of CEOs who believe AI investments will result in significant reductions in head count fell from around 46% in January 2025 to 20% this May.

Last month a California think tank found that there has been "no evidence of a surge in AI-related layoffs" outside of one group of people; college-educated workers from industries with high exposure to AI - unemployment claims showed an increase after the 2022 launch of ChatGPT-3.5 and have remained high through May 2026.

Giant Needle Skip

Just as we were seemingly hurtling headfirst into the AI jobpocalypse, major companies began blowing their budgets on tokens - with one Anthropic enterprise client (thought to be Amazon) spending $500 million in Claude charges in a single month. 

In April, Uber's CTO went on the record saying the company had burned through its entire 2026 Claude Code budget in four months, leading to a hard cap of $1500 per month, per employee, peragentic coding tool. In mid-May, Microsoft began winding down internal Claude Code access. And then there's Amazon, which encouraged employees to spend AI tokens via a leaderboard, only to shut it down months later. 

Related: 

• "The Value Didn't Arrive": Bain Finds Cost-Savings From AI Are Falling Far Short Of Projections
• "Agent Development Hasn't Accelerated The Way We Expected": What Zuckerberg's AI Agent Confession Means For Token Demand
• New California Tracker Shows Spike In Bay Area AI-Related Layoffs But No Statewide Impact

Meanwhile, UBS found last month that less than 20 cents of each dollar spent on AI tokens reaches real users.

Breakdown of every $1 spent on AI tokens: less than 20cents reaches real users (44 cents is spent fixing bugs generated by other AI) https://t.co/jFzUVSCPos pic.twitter.com/NwOWg7HppA

— zerohedge (@zerohedge) June 22, 2026

According to a survey of corporate executives by technology and management-consulting firm Emergn, around 20% say the AI deployment reports they're getting paint a rosier picture than the facts on the ground - with some saying that their staff are obscuring failures.

"They may have noticed that the labor market is genuinely not changing (i.e., imploding) as rapidly as they expected," David Autor, a professor of economics at the Massachusetts Institute of Technology, told the WSJ. "They may have realized it was simply bad business to say that your great new product will destroy the economy."

Another study by financial-technology company Ramp and workforce-intelligence firm Revelio Labs supports the notion that AI adoption has been positive for job growth - finding that companies making the largest AI investments grew employment by roughly 10% over otherwise similar companies that hadn't yet adopted the technology. 

TL;DR

With pitchforks out across America over data centers, AI CEOs have changed their tune - and are now saying their earlier warnings of mass unemployment were greatly exaggerated.

Tyler Durden Mon, 07/06/2026 - 17:20