Aggregator

Former Vice President Kamala Harris’ new California mansion is situated in a neighborhood with virtually no racial diversity.

Blake Snell may have done enough to show the Dodgers that he is ready to return from injury.

This is the squalid Bronx apartment where an autistic teen was slowly starved to death – allegedly by his mom and grandma.

The Spider-Man actor shared his thoughts on Tom Holland's portrayal of Spider-Man at the New York City red carpet event for "The Magic Faraway Tree"

The Spider-Man actor shared his thoughts on Tom Holland's portrayal of Spider-Man at the New York City red carpet event for "The Magic Faraway Tree"

Colin Gray’s sentencing comes days after his son, Colt Gray, was sentenced to life in prison without the possibility of parole.

58% Against, Both Parties Scrambling: Data-Center Revolt Hits The Midterms

A "booming backlash" against AI data centers is shaping the midterm election - candidates cutting ads touting their anti-data-center credentials, protesters showing up at campaign events, industry players taking note - which will come as genuinely useful news to anyone who has spent the past year getting their information exclusively from NBC News.

The network's framing is that last year's elections in a handful of states revealed the hyperscale buildout as a major tension point up and down the ballot, and that the fight has now intensified into a full midterm issue - with demonstrators displaying "Stop Data Centers" signs at President Trump's Michigan appearance on Sunday - the protest movement having now reached the point where it greets the president of the United States at his own events.

The anti-data center protest during President Trump’s speech in Michigan: pic.twitter.com/EjsuS7yn7g

— Craig Mauger (@CraigDMauger) July 27, 2026

According to the report, Republicans, Trump included, have shifted toward ensuring data centers do not drive up voters' power bills, which is what happens when the polling gets loud enough to be heard over the donor calls.

A June Yale Program on Climate Communication poll cited by CNBC found 58% of registered voters oppose data-center construction in their own area - including 53% of conservative Republicans, which is not a demographic famous for agreeing with the 74% of liberal Democrats who feel the same way. More than 300 cities, towns and counties have enacted bans or moratoriums on hyperscale construction, per a count by The Information, and Data Center Watch tallied 75 major projects worth more than $130 billion delayed or canceled in the first quarter of 2026 alone - roughly matching the damage from all twelve months of 2025. New York Governor Kathy Hochul signed the nation's first statewide moratorium this month, voters in Monterey Park, California passed a permanent ban at the ballot box, and in April an unknown attacker fired 13 shots into the home of an Indianapolis councilman who had voted for an AI facility, leaving a note reading "No Data Centers," per The Week - the point at which a land-use dispute stops being a land-use dispute.

This is what it sounds like living next to a data center. The video below was recorded at midnight, and the data center is situated next to 100s of residential homes. pic.twitter.com/BHGqt3vKfb

— Merissa Hansen (@merissahansen17) May 10, 2026

The issue is bipartisan in the most literal sense: nobody knows which party owns the issue. In Wisconsin, Democratic gubernatorial candidate Francesca Hong is campaigning on a pledge to "tax the rich, fund our schools and stop AI data centers," per AP, while Pennsylvania's Josh Shapiro takes fire from his own rural base for welcoming the buildout onto prime farmland. In deep-red west Texas - which JLL projects will overtake northern Virginia as the world's largest data-center market by 2030 - protest groups led by Republicans are springing up in Lubbock, some of whose founders say they may not vote for Governor Abbott at all, and Abbott has responded by ordering regulators to make sure Texans are not paying higher electricity bills for the privilege of hosting Google. When the same issue is simultaneously a Democratic socialist's headline pledge and a Republican rancher's reason to stay home, the consultants have a problem no ad buy fixes.

None Of This Will Surprise Regular Readers

We've been tracking this revolt since it was a smattering of county fights. Earlier this month - in one day, there were 142 coordinated protests across 42 states under Tea Party veteran Amy Kremer, who declared that America is not for sale and predicted data centers on the ballot in November and again in 2028.

Today was incredible!

142 protests. 42 states. One message: ONE NATION UNITED AGAINST DATA CENTERS!

Communities across America showed up today for a National Day of Protest Against AI Data Centers to say that We The People deserve a voice before massive data centers are… pic.twitter.com/TwE7oRjR6V

— Kylie Jane Kremer (@KylieJaneKremer) July 18, 2026

The prediction is aging well - and now the mainstream media is catching up, four months before midterms. Meanwhile the enforcement arm of the buildout keeps generating its own coverage - this week's example being the Kansas physics teacher jailed for clapping at a data-center hearing while the commission passed the zoning anyway.

A high school teacher in Kansas was arrested for clapping in opposition to a proposed data center during a city council meeting. pic.twitter.com/yWRy5P0NHP

— FactPost (@factpostnews) July 28, 2026

Needless to say, the pitchforks are out...

Tyler Durden Thu, 07/30/2026 - 15:45

The longtime TV star says her OnlyFans page will focus on personal moments, career memories and a closer connection with longtime supporters.

She's pierced from head to (almost) toe.

She's pierced from head to (almost) toe.

LeBron James appears to be pushing back on reports that his move to the Philadelphia 76ers will be documented as the final chapter of his NBA career. Maverick Carter, James’ longtime business manager and close friend, rejected comparisons between a potential project and Michael Jordan’s The Last Dance on Thursday. LeBron James reposted a denial...

It’s a match made in nepo-baby heaven. At “The Shards” premiere, Kaia Gerber dished to Entertainment Tonight about working with Homer Gere. He’s not just her co-star in Ryan Murphy’s new FX series — his dad, Richard Gere, was married to her mom, Cindy Crawford, from 1991 to 1995. Their union ended six years before...

It’s a match made in nepo-baby heaven. At “The Shards” premiere, Kaia Gerber dished to Entertainment Tonight about working with Homer Gere. He’s not just her co-star in Ryan Murphy’s new FX series — his dad, Richard Gere, was married to her mom, Cindy Crawford, from 1991 to 1995. Their union ended six years before...

The Facts Behind China's "Gold Reset"

Authored by Peter Reagan,

The internet loves a reset.

A “reset” takes an impossibly complicated subject and boils it down to a date, a decision and one big red button.

China’s recent gold market announcements launched a veritable cottage industry of dire warnings and hysterical predictions.

Over the past few weeks, my feeds have been absolutely flooded with claims that China’s brought back the gold standard. And that Beijing built a machine designed to “collapse the dollar.” Some warned that July 24 would mark “the end of gold trading” – somehow eliminating manipulation and revealing gold’s “real” price.

(One popular video managed to make nearly all those claims at once!)

Listen: I understand why people are getting worked up.

China is the world’s top gold-mining nation. In 2023, China surpassed India to become the world’s #1 gold-buying nation (and its consumption substantially exceeds domestic mining). Its central bank, the People’s Bank of China or PBoC has been steadily adding to its official gold reserves for the last 20 consecutive months.

Now China and Hong Kong are building new vaults, clearing systems and delivery connections around the precious metal.

That sounds significant because it is significant.

But let’s not get ahead of ourselves.

This isn’t a gold standard. It is not a ban on paper gold.

And there is no evidence that China flipped a switch that will suddenly “reset” gold’s global price.

As is often the case in real life, the real story is more complicated.

I think it’s important though, because I expect it will have a much bigger impact over the long run…

China is building more than a bigger vault

Let’s begin with what actually happened.

On July 7, Hong Kong began trial operations of a new central clearing and settlement system for gold.

Clearing and settlement are two of those phrases that make most people’s eyes glaze over. In plain English, the new system is designed to help institutions complete gold transactions more efficiently – matching buyers and sellers, transferring payments and confirming who owns what.

Hong Kong also launched the first phase of a new “Delivery Connect” program with the Shanghai Gold Exchange. This is intended to make it easier to settle cross-border gold transactions and move physical metal between the two markets.

Meanwhile, Hong Kong wants to expand its gold storage capacity to more than 2,000 metric tons within three years. That would be roughly 10 times its current reported capacity.

Officials describe the goal as building a complete gold ecosystem incorporating trading, clearing, storage, delivery, insurance and logistics.

Think of it this way:

Owning a large pile of gold is one thing.

Building the roads, warehouses, scales, security systems and payment networks required to move that gold is something else entirely.

China has already accumulated substantial quantities of physical gold. Now it is developing more of the infrastructure needed to make that gold useful across institutions and borders.

That does not make the yuan a gold-backed currency.

But it could make gold easier to hold, trade and deliver within a financial system centered more closely on China and the yuan.

China’s banks are closing one retail door

The second development is what gave rise to the July 24 “China reset” story.

Industrial and Commercial Bank of China, or ICBC, announced that it would stop acting as an intermediary for individual customers trading precious-metals contracts through the Shanghai Gold Exchange after end-of-day settlement on Friday, July 24.

ICBC’s notice covered several kinds of contracts.

Some represented spot gold products eligible for physical delivery. Others were deferred-delivery contracts that allowed customers to use leverage – controlling a larger gold position with a smaller amount of money.

ICBC advised customers with existing positions to sell, close their trades or arrange physical delivery before the service was shut down. Other major Chinese banks have announced similar withdrawals from individual Shanghai Gold Exchange trading, although not all of them used the same deadline.

For example, China Construction Bank announced a similar July 24 closure and warned that remaining inventories or positions could subsequently be sold or forcibly closed. (They’d already raised collateral requirements on precious metals contracts to 120%.)

The banks’ stated reason was risk management.

That makes sense in light of gold’s extraordinary volatility this year. Gold climbed to an intraday high near $5,600 in January before briefly retreating below $4,000 in June. Chinese banks responded by tightening trading requirements, with some collateral requirements reportedly reaching as high as 140%.

In other words, a customer had to deposit more collateral than the value of the position itself! At the same time, CME Group’s COMEX requires a 40% margin for gold futures.

At that point, the appeal of offering the service presumably became rather difficult for the banks to justify.

This was not a nationwide prohibition on gold ownership. Chinese citizens can still own physical gold, buy bars and coins and use other non-leveraged gold products.

Nor did China shut down the Shanghai Gold Exchange.

A more accurate description would be:

China is not closing the gold vault. Its largest banks are closing part of the speculative trading counter attached to the vault.

That is noteworthy. But it is not a monetary reset.

Here’s what China did not do

China did not restore the gold standard.

Under a traditional gold standard, a nation defines its currency in terms of a specific quantity of gold and promises conversion between the two. China made no such promise.

The yuan is not redeemable for a fixed weight of gold. Beijing has not announced that every yuan will be backed by gold reserves. Nor has it limited its ability to create more currency according to the amount of gold in its vaults.

China also did not ban futures or derivatives trading.

In fact, Hong Kong is doing nearly the opposite.

As part of its effort to become a larger gold-trading hub, Hong Kong has revived gold futures denominated in both U.S. dollars and “offshore yuan,” with physical delivery services available through participating institutions. The goal of all these changes? To strengthen Hong Kong as an offshore yuan center and a regional gold-trading, clearing and reserve hub – not to make the yuan convertible into gold.

China isn’t systematically eliminating paper gold. It looks more like they’re reducing access to certain volatile, bank-operated retail products – meanwhile, expanding institutional gold trading, clearing, delivery and storage.

Those two policies are not necessarily contradictory.

Beijing may want gold to play a larger strategic role without encouraging ordinary households to make highly leveraged short-term bets on its price.

That is a far more plausible explanation than the idea that China secretly scheduled the destruction of the global monetary system for a Friday afternoon in July.

Why people are paying attention anyway

The hype may be overblown, but it did not appear out of thin air.

China occupies a unique position in the gold market.

It is the world’s largest gold producer, accounting for roughly 10% of global mine output in recent years. It is also the largest consumer – which means the nation uses more gold than it produces and must import substantial quantities to meet domestic demand.

Chinese gold demand is also changing.

In 2025, purchases of bars and coins rose more than 35% to approximately 504 metric tons. For the first time, Chinese demand for investment bars and coins exceeded demand for gold jewelry. Domestic mine production reached approximately 381 metric tons.

Then there is China’s central bank.

The People’s Bank of China reported adding approximately 15 metric tons of gold in June, its largest monthly increase since October 2023. That extended its reported purchasing streak to 20 consecutive months and brought official holdings to approximately 2,346 metric tons.

Put the pieces together:

• China mines lots of gold.

• Chinese households and institutions buy gold.

• China imports additional gold.

• The PBoC accumulates gold.

• Hong Kong is expanding gold storage.

• New systems are being built to clear, settle and deliver gold across borders.

That is not a gold standard. But neither is it meaningless.

China is building a financial neighborhood in which physical gold is easier to store, trade and use – while reducing reliance on institutions and payment systems outside its control.

We have discussed before why central banks increasingly regard physical gold as a vital reserve asset in a world of rising government debt, geopolitical friction and currency uncertainty.

China’s latest moves fit that broader pattern.

Could China reshape gold’s global price?

This is where we have to be especially careful.

Gold does not have one market or one price-making machine.

Its global price emerges from a complicated network of physical bars, wholesale spot transactions, futures contracts, currency movements, central-bank activity and buying by households and institutions around the world.

London and New York remain enormously influential. Shanghai has become increasingly important. Prices move between these markets through arbitrage – traders responding whenever gold becomes meaningfully cheaper in one location than another.

A popular argument says futures trading creates an artificial gold price because vastly more contracts trade than physical bars change hands.

There is a grain of truth here.

Leverage allows traders to control large positions without paying the full value upfront. During extreme market moves, margin calls and forced liquidations can amplify price swings. Recent metals volatility has offered plenty of examples of speculative activity accelerating both rallies and selloffs.

But it would be a mistake to conclude that all futures trading is fake or that eliminating it would automatically reveal gold’s “true” price.

Futures also provide liquidity and help buyers and sellers discover prices. Research on China’s own gold market has found that futures trading has historically played a significant role in price discovery. The World Gold Council likewise notes that futures concentrate trading activity, add liquidity and contribute to the process by which new information becomes reflected in prices.

Less leverage may reduce forced selling and speculative excess. In fact, the Bank of International Settlements claims that leverage and margin-triggered liquidations amplified the abrupt reversal in gold’s price back in January.

It can also mean fewer buyers and sellers, thinner trading and greater volatility.

So I would not claim that China’s bank closures will automatically produce a more honest gold price – especially because those closures affect only certain retail trading channels, while Hong Kong is simultaneously expanding other forms of futures trading.

The potentially more important development is the growth of physical infrastructure.

If more gold is stored in Hong Kong…

And if more trades result in physical delivery…

And if Delivery Connect attracts substantial cross-border activity…

And if Asian institutions increasingly use those systems rather than merely referencing prices established elsewhere…

…then physical demand from China and the rest of Asia could exert more direct influence over gold’s global price.

That would not happen on one deadline.

It would happen gradually, transaction by transaction. Gold bar by gold bar.

What to watch next

The best way to judge China’s gold ambitions is not to watch social media predictions or stare at gold’s price on the morning after July 24.

Watch what China actually builds.

Does Hong Kong’s storage capacity begin moving toward its 2,000-ton goal?

How much gold passes through the new clearing system?

Do international banks, central banks and large commercial buyers use Delivery Connect?

Do Hong Kong’s new gold contracts attract enough trading to become meaningful?

Does more gold move into allocated storage and physical settlement rather than remaining merely a contractual promise?

Those numbers will tell us whether China has created a genuine alternative gold center – or merely another ambitious financial project that never attracts sufficient use.

Infrastructure matters. But infrastructure must be used.

An empty highway does not reshape trade simply because someone poured the concrete.

Only physical gold is gold itself

Although China did not launch a gold-backed currency, ban derivatives or reset the global price of gold, its recent decisions illustrate something I discuss frequently:

Physical gold and a financial claim tied to gold are not the same thing.

A futures contract is an agreement.

It has rules, expiration dates, collateral requirements and counterparties. The exchange can change its terms. A bank can increase margin requirements. A financial institution can decide it no longer wants to sell a product.

That does not make every contract fraudulent or useless. These instruments serve legitimate commercial purposes (as well as speculation). It simply means the contract is not the gold itself.

ICBC customers discovered that distinction firsthand. Their bank-operated access to the Shanghai Gold Exchange existed only as long as the bank chose to provide it. When the bank changed its policy, customers had to sell, close their positions or take delivery.

The rules around a promise can change.

An ounce of physical gold remains an ounce of physical gold.

That does not mean physical gold’s price cannot fall. Gold experienced a severe decline this year, and anyone who says its price moves in only one direction is ignoring history.

Nor do I know whether China’s new systems will push gold higher next week, next year or at all. Anyone promising a dramatic price explosion because of a single deadline is selling certainty that does not exist.

Here is what we do know:

China is investing serious resources in the storage, clearing and delivery of physical gold. Its central bank continues to accumulate the metal. At the same time, some of its largest banks are effectively outlawing leveraged retail speculation on gold’s price.

China is not abandoning paper markets entirely. But it is making physical gold bullion a larger and more important part of its financial system.

For Americans concerned about their long-term savings, that distinction is worth understanding. Because there is a big difference between owning an asset and owning a promise based on the price of an asset.

China isn’t about to reset gold’s price on July 24.

Instead, what it’s really doing is reminding the world what gold actually is. They’re reminding everyone who’s forgotten why physical gold matters.

Tyler Durden Thu, 07/30/2026 - 15:25

Maxx Crosby looked fast, fit, electric — and downright terrifying — on the first day of Raiders training camp Wednesday.

Canton fire officials said one survivor was found badly burned three-tenths of a mile away from teh blast more than four hours alter.

Around 220 pedestrian tunnels were built in the 1920s-1930s when higher traffic from automobiles led to increased accidents involving children and pedestrians. As the tunnels became less popular with pedestrians over the years, residents said the empty spaces became neglected.

The WNBA has released a statment following their social media blunder in sharing a video about a bet between Angel Reese and Paige Bueckers for the result of the Dream-Wings game Wednesday night.

The emo heroes will "Carry On" at Citi Field with special guest Franz Ferdinand on Aug. 9.

Save on your exorbitant energy bills.