Ex-OpenAI Researcher's Hedge Fund Reveals Big Bitcoin Miner Bets In New SEC Filing

Authored by Christina Comben via cointelegraph,

Leopold Aschenbrenner has built a US stock portfolio heavily concentrated in companies that supply the power and infrastructure behind the artificial intelligence boom.

The former OpenAI researcher, who left the lab’s superalignment team to launch San Francisco-based hedge fund Situational Awareness LP, has expanded it from $383 million in assets in early 2025 to a reported $5.52 billion in equity positions in its latest 13F filing with the US Securities and Exchange Commission.

The fund’s 13F filing for Q4 2025 shows a highly concentrated portfolio built around betting that the real winners of the AI boom won’t be chatbots, but the power plants and data centers that feed them. Situational Awareness reported $5.52 billion in US equity positions across 29 holdings, with a large share of that value clustered in a handful of AI infrastructure names.

Those include graphics processing unit (GPU) cloud provider CoreWeave, fuel cell and power specialist Bloom Energy, Intel, optics maker Lumentum and Bitcoin miner-turned-AI infrastructure play Core Scientific. 

Aschenbrenner first drew attention as a precocious AI thinker after publishing a widely read “Situational Awareness” manifesto on the race to advanced AI, then quickly parlayed that profile into capital. His San Francisco-based AI hedge fund now manages more than $1.5 billion, backed by prominent tech founders, family offices and institutions.

Aschenbrenner has been a substantial net buyer quarter-on-quarter, with Situational Awareness’ 13-F reported US equity and options portfolio increasing from about $254 million in Q4 2024 to more than $5.5 billion by Q4 2025. Over that period, the fund built sizable positions in Bitcoin miners and related energy infrastructure firms including IREN, Cipher Mining, Riot Platforms, Bitdeer and Applied Digital.

Bitcoin miners pivot from hashrate to horsepower

The bet aligns with a broader shift already reshaping Bitcoin mining. After the latest halving squeezed block rewards, large miners have started repurposing their high-density, power-rich sites as AI hosting hubs, treating megawatts and data center space as scarce assets in the new compute economy rather than just hashrate.

Core Scientific, for example, has signed a series of 12-year high-performance computing hosting contracts with AI cloud firm CoreWeave, while MARA acquired a 64% stake in French computing infrastructure operator Exaion, expanding into AI and cloud services.

Situational Awareness disclosed a 9.4% stake in Core Scientific via an amended Schedule 13D, representing 28,756,478 shares with shared voting and disposition power, effectively giving the fund a levered bet on CoreWeave’s expansion and the miner’s pivot from pure Bitcoin to AI and high-performance computing.

At the same time, the fund has taken aim at the other side of the AI transition with a short position in Indian IT giant Infosys, a wager that large language models and AI coding tools will pressure the traditional outsourced software services model.

Tyler Durden Thu, 03/05/2026 - 06:30

Free Speech Victory In Germany After Top Court Issues Landmark Rulings For 'Insults'

Via REMIX News,

The wave of police searches and prosecutions in Germany may be facing a new hurdle after Germany’s top court, the Constitutional Court, issued two landmark rulings strengthening freedom of expression. However, Fatina Keilani, editor in Welt’s freedom of expression department, said that these two decisions have gone largely unnoticed by the public, an oversight that she finds remarkable.

Karlsruhe: The Second Senate of the Federal Constitutional Court gathers. Photo: Uli Deck/dpa (Photo by Uli Deck/picture alliance via Getty Images)

Writing in Welt, Keilani reports that the Federal Constitutional Court in Karlsruhe handed down two resolutions in December that push back against what she describes as hasty convictions for insults. The rulings stem from two separate cases in which individuals used sharp, even offensive language against public officials and medical staff — and were criminally sentenced for it.

As Remix News has extensively reported, there have been hundreds, if not thousands, of such cases in recent years. Some of these cases have even attracted international attention and led to questions about freedom of speech and growing repression in Germany.

Just late last month, German prosecutors launched investigations into dozens of comments under just one post criticizing Chancellor Friedrich Merz, with one user calling him “Pinocchio.” A number of constitutional lawyers were quick to slam the investigations, with one labeling it “hysterical madness.”

Now, Germany’s top court is strengthening freedom of expression at a worrying time.

The first case involved a retired police officer whose son attended a high school during the Covid pandemic. Angered by the school’s testing requirements, the father sent the headmaster a series of emails accusing him of serving a “fascist system and its henchmen” and of “fascist cadre obedience.” The Göppingen District Court sentenced him to a fine of 70 daily rates of €80 each for insult. He lost every appeal before taking his case to Karlsruhe — where he finally prevailed.

The Constitutional Court found that his right to freedom of expression had been violated, ruling that the lower courts had not examined the meaning of his statements carefully enough, nor struck an adequate balance between free expression and the protection of personality.

Keilani quotes the court directly: “Part of this freedom is that citizens can attack officials they consider responsible in an accusatory and personalized way for their way of exercising power, without having to fear that the personal elements of such statements are removed from this context and form the basis for drastic judicial sanctions.”

The second case involved a man who had been placed in a psychiatric hospital on multiple occasions and subjected to coercive measures. In a letter to his lawyer in 2023, he described hospital staff as a “psychiatric mob.” When he applied to have the letter formally served, a senior bailiff refused on the grounds that its content was punishable. The Stuttgart Higher Regional Court upheld that refusal — but Karlsruhe disagreed.

The Constitutional Court was pointed in its criticism, noting that the Higher Regional Court’s entire reasoning had been reduced to just two sentences, and that it had made no real weighing of the fundamental right to free expression at all. The case has been sent back for reconsideration.

For Keilani, both rulings carry a significance that extends beyond the individual cases. She situates them within a broader climate of concern, noting that “numerous decisions against freedom of expression have recently raised doubts in Germany about the rule of law and about the stability of the courts with regard to this crucial fundamental right.”

In particular, the wave of politicians weaponizing comments on the internet to launch police raids and drag social media users to court. Against that backdrop, she finds the Karlsruhe decisions reassuring — while also reading them as a firm instruction to lower courts about the standard they must meet when judging speech.

These rulings do not necessarily mean, however, that internet users are now able to freely insult politicians without consequence. For one, prosecutors and politicians still have incentive to pursue such cases, both in order to stifle dissent and to intimidate the populace. Social media users may be able to defend themselves in court, but it will likely take years and cost them substantial amounts of money. Furthermore, outright insults without context are still likely to be prosecutable offenses under current German law. For example, insulting a politician’s physical appearance or simply calling them a slur could land social media users in hot water.

Regardless, the country’s top court has drawn a line in the sand, according to Keilani.

She also cited the “urgent decision of the Cologne Administrative Court regarding the classification of the AfD” as also a welcome sign that rule of law still stands in Germany. In that ruling, the Cologne court found that the designation of the AfD as a “confirmed” case of right-wing extremism was not constitutionally sound.

Tyler Durden Thu, 03/05/2026 - 05:00

US, Ecuador Launch Joint Military Operations Against Terrorist Organizations

US Southern Command on Tuesday stated that the US military had conducted a joint operation with Ecuadorian forces against "designated terrorist organizations" in Ecuador, as the Trump administration continues to fight narco-terrorism. 

U.S. Marine Corps. Lt. Gen. Francis Donovan looks on during a Senate Armed Services Committee Confirmation Hearing on Capitol Hill on Jan. 15, 2026. Tom Brenner/Getty Images

"We commend the men and women of the Ecuadorian armed forces for their unwavering commitment to this fight, demonstrating courage and resolve through continued actions against narco-terrorists in their country," Marine Corps Lt. Gen. Francis L. Donovan, commander of U.S. Southern Command, said in a post on X.

The announcement comes after Donovan visited Ecuador on March 1 for a two-day visit, where he met President Daniel Noboa and senior Ecuadorian defense officials in Quito. They discussed security cooperation and US support of Ecuador's efforts to combat narco-terrorism. 

A Pentagon spox told the Epoch Times that the joint effort does not entail US troops in combat. 

"Ecuador is one of the United States’ strongest partners in disrupting and dismantling Designated Terrorist Organizations in the region," Donnovan said on Tuesday. "The Ecuadorian people have witnessed firsthand the terror, violence, and corruption that these narco-terrorists inflict on communities across the region."

Noboa announced on Monday that Ecuador had entered a new phase in its fight against narcoterrorism and illegal mining.

"In the month of March, we will conduct joint operations with our regional allies, including the United States," he said on X. "The security of Ecuadorians is our priority, and we will fight to achieve peace in every corner of the country."

As the Epoch Times notes further, the operations come amid increased U.S. involvement in the region, including the capture of former Venezuelan leader Nicolás Maduro in January.

Military personnel patrol a market as they carry out weapons and drug checks in Quito, Ecuador, on Feb. 10, 2026. Rodrigo Buendia/AFP via Getty Images

The Trump administration in September 2025 classified two Ecuadorian cartels, Los Choneros and Los Lobos, as foreign terrorist organizations.

“Los Choneros and Los Lobos have attacked and threatened public officials and their families, security personnel, judges, prosecutors, and journalists in Ecuador,” the U.S. State Department said in a September 2025 statement.

On Feb. 2, the U.S. Coast Guard detained three suspected narco-terrorists northwest of Ecuador during Operation Pacific Viper, an ongoing U.S. Coast Guard-led campaign launched in early August 2025, to undermine drug trafficking in the Eastern Pacific Ocean and the Caribbean Sea.

In March 2025, Noboa called for U.S. special forces, with assistance from Brazil and Europe, to dismantle the international narco-terrorist organizations, which have swelled to thousands of armed members.

“We need to have more soldiers to fight this war,” Noboa told the BBC at the time. “Seventy percent of the world’s cocaine exits via Ecuador. We need the help of international forces.”

Ryan Morgan contributed to this report.

Tyler Durden Thu, 03/05/2026 - 04:15

How Likely Is It That Pakistan Joins The Third Gulf War In Support Of Its Saudi Ally?

Authored by Andrew Korybko via Substack,

Pakistan could set into motion a sequence of events that restores its role as the US’ top regional ally, returns US troops to Afghanistan’s Bagram Airbase if they later team up against the Taliban, and therefore build a new regional order at the geostrategic crossroads of South and Central Asia.

Saudi Arabia has been attacked multiple times by Iran on the pretext that the US military infrastructure on its territory has been used to some extent in the US campaign against Iran, which led to what can be described as the Third Gulf War, in spite of the Saudi-Pakistani Mutual Defense Pact from last September. Iran clearly wasn’t deterred, but Pakistani Foreign Minister Ishaq Dar still reminded Iran about it in what seems to either be another attempt to deter an escalation or intimate impending involvement in the war.

In his words, “We have a defence pact with Saudi Arabia. I conveyed to the Iranian side about our defence pact, to which he asked me to ensure that KSA’s land was not used. Then I had shuttle communication, as a result of which, as you can compare, the least attacks from Iran are to Saudi Arabia and Oman.” Objectively speaking, it reflects poorly on Pakistan that Iran ignored Dar’s reminder and still attacked Saudi Arabia, hence why he coped that “the least attacks from Iran are to Saudi Arabia”.

Mutual defense pacts are supposed to deter attacks, not simply reduce the number and intensity thereof, which in any case didn’t even happen like Dar claimed since Iran continues to attack Saudi Arabia with gusto. Saudi Arabia and Pakistan are now thrown into the dilemma of either activating their mutual defense pact to significantly escalate the conflict through their joint involvement therein, likely coordinated with their shared US ally if that happens, or tacitly admit that it’s militarily impotent.

The crushing reputational costs of failing to activate their previously hyped-up mutual defense pact place additional pressure upon their policymakers to do so, even if the decision is delayed till after the US and Israel destroy more of Iran’s air defenses and missile launchers to reduce the risks to them. Saudi Arabia hosts US bases and its economy is extremely vulnerable to large-scale disruptions from low-cost drone strikes alone, while Pakistan is a “Major Non-NATO Ally” with very close ties to Trump 2.0.

The aforesaid factors greatly raise the chances of them activating their mutual defense pact. In that case, Saudi Arabia might also lead some of the smaller Gulf Kingdoms that have also been attacked by Iran into battle against it as part of an even larger US-coordinated escalation, which could occur in parallel with Pakistani strikes and/or even limited ground ops on the anti-terrorist pretext of targeting Baloch separatists. Pakistan has three reasons to do this apart from the earlier-mentioned reputational one.

In brief, it wants to restore its role as the US’ top regional partner after India replaced it following the Indo-US trade deal, to which end doing the US a favor in Iran could also be the cover for destroying rival India’s port in Chabahar while improving the odds of them teaming up against the Taliban. Pakistan is actively destroying their leftover US stockpiles, which could facilitate Trump’s desired return of US troops to Bagram Airbase, thus possibly replacing Indian influence in Afghanistan with American and Pakistani.

Therefore, by activating its mutual defense pact with Saudi Arabia after Iran’s attacks against its ally, Pakistan can set into motion a sequence of events for building a new regional order with the US at the geostrategic crossroads of South and Central Asia. This outcome could also see them aid their shared Turkish ally’s challenge to Russia in the latter region along its vulnerable southern periphery. These calculations are compelling enough that Pakistan’s involvement in the Third Gulf War can’t be ruled out.

Tyler Durden Thu, 03/05/2026 - 03:30

China Is Scrambling

Authored by Zineb Riboua via Beyond the Ideological,

The men in Zhongnanhai do not rattle easily. Decades of patient statecraft, a foreign policy built on studied ambiguity, and an economy engineered to absorb external shocks have granted Beijing’s leadership a remarkable tolerance for turbulence. Operation Epic Fury, the American-Israeli air campaign now dismantling Iran’s military architecture, has produced something unusual in the corridors of Chinese power: visible confusion.

Xi Jinping is scrambling. The word is not used lightly. For a leader who has built his image on strategic composure and long-horizon thinking, the current moment is acutely dangerous. Not because China faces a direct military threat, but because every available response to the crisis in the Persian Gulf leads Beijing into a trap of its own contradictions.

Three Reasons Operation Epic Fury Is Catastrophic for Xi

First, the Iranian counterweight is gone. In 2021, Xi told senior Party officials that “the East is rising and the West is declining,” that America was “the biggest source of chaos in the present-day world,” and that China was entering a period of strategic opportunity. Iran was central to that thesis. Beijing needed a defiant Tehran to keep Washington pinned down in the Gulf, to sustain a sanctions-proof energy corridor, and above all, to stand as living evidence that American power had hard limits. The entire architecture of CCP’s dogma of inevitability, which rested on Iran’s ability to endure, and Epic Fury removed the foundation in a single afternoon.

Khamenei was the man who made the thesis feel real. Beijing’s relationship with the Islamic Republic was never really ideological, but Khamenei’s survival was the single most useful fact in Chinese foreign policy. Here was a man Washington had threatened, sanctioned, plotted against, and encircled for over four decades, and he was still giving Friday sermons. Xi personally signed the comprehensive strategic partnership with Khamenei’s government. He personally authorized the weapons transfers. And he personally wielded the Security Council veto. None of it kept Khamenei alive for one additional hour once Washington decided he was finished.

Second, Xi’s own story is collapsing from the inside. The story he told 1.4 billion people, that America is a declining power incapable of decisive force projection, does not match what happened in seventy-two hours over Tehran. State media can suppress the footage and the censors can scrub Weibo, but the ones who matter most, the military planners, the foreign policy professionals, the provincial officials who read between the lines for a living, know what they saw. And if the story is wrong about Iran, the unavoidable next question is whether it was ever right about anything else.

Third, the energy math turns against Beijing. China bought 1.38 million barrels per day of Iranian oil last year and takes over 80% of everything Iran ships. Half of China’s total oil imports pass through the Strait of Hormuz. With Ayatollah Khamenei now dead and Iran’s military leadership weakened, the Gulf’s strategic balance shifts decisively toward Saudi Arabia and the United Arab Emirates, whose energy ties with the United States are strengthening. China’s old selling point was very simple and transactional: we buy your oil and never mention human rights. That pitch loses its utility when Gulf producers already feel protected by an American security guarantee that just proved, on live television, that it works.

The Messaging Trap

Xi’s communications problem may be worse than his strategic one, because there is no good answer. If Beijing endorses the strikes, it loses the “Global South.” If Beijing condemns the strikes, it attaches Chinese prestige to a dead man’s regime, and risks provoking a Trump administration that has just demonstrated, through the act itself, that it does not bluff.

So Beijing chose the remaining option: hide behind the United Nations. Mao Ning called the killing “a grave violation of sovereignty.” The language sounds forceful, but the Belt and Road countries are watching, and what they see so far is a confused superpower reading from a script while American carriers do the actual deciding.

Every Iranian Move Is a Chinese Loss

The truly vicious part of Beijing’s situation is that Iran’s entire playbook for retaliation was designed to punish Washington, but the geography and economics of each weapon mean the damage lands on China instead. Iranian missiles aimed at Gulf states threaten the very oil infrastructure and port facilities that Chinese companies have spent billions investing in across the region.

The Strait of Hormuz is worse. Iran’s Revolutionary Guard announced within hours that no ship would pass through the channel, a threat designed as leverage against the West, except that the United States has a shale industry and a crisis-proof strategic petroleum reserve. In fact, according to Kayrros, as of March 31, 2025, China had only filled 56% percent of its above-ground strategic and commercial storage facilities.

Which means that nearly 45% of China’s own oil imports now sit/would sit hostage to a blockade that was never meant to hurt Beijing. The Houthis have resumed attacks on Red Sea shipping, every flare-up in Iraq threatens oil concessions that Chinese companies spent billions building, and the sum of Iran’s resistance amounts to a systematic disruption of Chinese commercial interests across every waterway and energy corridor Beijing depends on, executed in Khamenei’s name, with no regard for who actually pays the price.

Counting Moves

The clearest sign of Beijing’s disorientation is the absence of action: no emergency summits, no diplomatic maneuvers, no military repositioning, even as a Chinese citizen was killed in crossfire in Tehran and over 300 nationals were evacuated. The sum total of Beijing’s response to the largest American military operation in a generation remains a press conference.

Xi bet a decade of foreign policy on Khamenei’s ability to withstand American pressure, and the bet did not pay off. Operation Epic Fury was designed to break the Islamic Republic, but it may also have exposed the uncomfortable truth that Chinese influence in the Middle East was only as durable as the assumption that no one would ever call it into question, and in Zhongnanhai, they know it.

Tyler Durden Thu, 03/05/2026 - 02:45

501 Afghans Sue Germany Over Revoked Resettlement Promises, Demand Entry Into Europe

Authored by Thomas Brooke via REMIX,

A total of 501 Afghan nationals are currently suing the German government after previously granted commitments to admit them into the country were withdrawn.

The cases are directed against Germany’s Federal Office for Migration and Refugees (BAMF), which revoked earlier pledges by the previous federal government to allow the individuals to resettle in Germany. The total number of legal cases was revealed following a parliamentary inquiry by the Left Party.

Despite the growing number of legal challenges, the Federal Ministry of the Interior has stated that a change in policy is “not intended,” Welt reported.

Most of the plaintiffs are currently in Pakistan, where authorities have called on Afghan nationals without long-term status to leave the country immediately. Many of those affected had previously received assurances of admission under resettlement programs introduced following the Taliban’s return to power in August 2021.

The legal action is being backed by left-wing NGOs as well as politicians from The Left. Clara Bünger, the party’s asylum spokesperson, described it as “shameful” that Afghans must sue to enforce what she said were firm pledges made by Berlin, and demanded that all original commitments be implemented without delay.

Their situation has deteriorated significantly in recent months. In July 2025, Pakistan began detaining Afghan nationals who had been earmarked for relocation to Germany but remained stuck in Islamabad after German authorities failed to complete their cases within the agreed timeframes. Around 2,500 Afghans were left in legal limbo as German background checks and visa procedures dragged on far beyond the three-month validity of Pakistani visas — often taking up to eight months.

A total of 501 Afghan nationals are currently suing the German government after previously granted commitments to admit them into the country were withdrawn.

The cases are directed against Germany’s Federal Office for Migration and Refugees (BAMF), which revoked earlier pledges by the previous federal government to allow the individuals to resettle in Germany. The total number of legal cases was revealed following a parliamentary inquiry by the Left Party.

Despite the growing number of legal challenges, the Federal Ministry of the Interior has stated that a change in policy is “not intended,” Welt reported.

Most of the plaintiffs are currently in Pakistan, where authorities have called on Afghan nationals without long-term status to leave the country immediately. Many of those affected had previously received assurances of admission under resettlement programs introduced following the Taliban’s return to power in August 2021.

The legal action is being backed by left-wing NGOs as well as politicians from The Left. Clara Bünger, the party’s asylum spokesperson, described it as “shameful” that Afghans must sue to enforce what she said were firm pledges made by Berlin, and demanded that all original commitments be implemented without delay.

Their situation has deteriorated significantly in recent months. In July 2025, Pakistan began detaining Afghan nationals who had been earmarked for relocation to Germany but remained stuck in Islamabad after German authorities failed to complete their cases within the agreed timeframes. Around 2,500 Afghans were left in legal limbo as German background checks and visa procedures dragged on far beyond the three-month validity of Pakistani visas — often taking up to eight months.

Islamabad had repeatedly warned Berlin that it could no longer tolerate the presence of thousands of Afghans with expired documents awaiting onward travel. With no resolution forthcoming, Pakistani authorities began arresting those whose status had lapsed and initiated deportation proceedings.

Alternative for Germany (AfD) co-leader Alice Weidel praised Islamabad last year for doing what the German government wouldn’t. “Pakistan is deporting Afghans to their homeland, whom the conservative coalition government wanted to bring to Germany, thus thwarting these plans. A good thing! The German government must finally end the voluntary admission of Afghans,” she said.

The vetting procedures had already been exposed as deeply flawed. Last year, Bild reported that only one in eight Afghans who entered Germany through special protection programs had been fully vetted by security authorities beforehand. More than 31,000 Afghans, including family members, were said to have arrived without complete background checks.

Berlin has insisted that those flown in were primarily former local staff who had supported the German military during its deployment in Afghanistan. However, reports indicated that only a small proportion of passengers on recent charter flights were former employees of the Bundeswehr or their close relatives.

Security concerns were also raised by the German Police Union, which repeatedly called for Afghan relocation flights from Pakistan to be suspended, citing identity verification problems and potential risks. The union last year urged then-Chancellor Olaf Scholz to halt the program altogether.

In January of this year, it emerged that the federal government had attempted to reduce the backlog by offering financial compensation to Afghans willing to relinquish their resettlement pledges and drop litigation proceedings. According to a report cited by Die Zeit, around 700 individuals were contacted and offered several thousand euros to permanently withdraw from the admission schemes. By the end of the year, only 167 had accepted, while 357 rejected the proposal outright, leaving the majority still awaiting a decision on their future.

Tyler Durden Thu, 03/05/2026 - 02:00

How Operation Epic Fury Unfolded

Authored by John Haughey via The Epoch Times (emphasis ours),

The Pentagon had been choreographing a prospective massive attack on Iran since 1980, but it wasn’t until December 2025 that U.S. President Donald Trump, after meeting with Israeli Prime Minister Benjamin Netanyahu in Washington, told military planners to give him that devastating option in case the fundamentalist Shia regime refused to end its uranium enrichment program.

Illustration by The Epoch Times, Public Domain, Shutterstock

With that request, the countdown to Operation Epic Fury kicked off.

Joint Chiefs of Staff Chair Gen. Dan Caine told reporters during a March 2 press conference that with the president’s December request, the Pentagon began “setting the force and setting the theater” and shifted forces into place over the previous 30 days to “provide the president with credible options should action be required.”

After U.S. negotiators, led by special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner, left Geneva on Feb. 26 without concessions from Iranian Foreign Minister Abbas Araghchi, the die was cast.

The next day, the president called the Pentagon from Air Force One as it was en route to Corpus Christi, Texas, where he was scheduled to campaign for Republican primary candidates.

Caine recalled the exact moment he got the call: “H hour,” a military term for the time at which an operation begins, was 3:38 p.m. EST on Friday, Feb. 27, when the Pentagon “received the final go order from President Trump.”

Joint Chiefs of Staff Chair Gen. Dan Caine holds a briefing about the U.S.–Israeli conflict with Iran, at the Pentagon in Washington on March 2, 2026. Elizabeth Frantz/Reuters

“The president directed, and I quote: ‘Operation Epic Fury is approved. No aborts. Good luck,’” Caine said.

With that one call, he said, “across the globe, [U.S. military] operation centers came alive,” and Adm. Brad Cooper, Central Command commander at MacDill Air Force Base in Tampa, Florida, assumed operational command in the theater.

When Trump issued the “go order” at 3:38 p.m. Feb. 27, it was just after midnight Feb. 28 in Tehran. In the nearly 10 hours between H hour and the actual launch of the attack, Caine said, “in the region, every element of the joint force made their final preparations.”

“Air defense batteries readied themselves, checking their systems to respond to Iranian attacks,” he said. “Pilots and crews rehearsed their strike packages for the final time. Air crews began loading their final weapons, and two carrier strike groups began to move towards their launching point.”

Plumes of smoke rise over the skyline following explosions in Tehran, Iran, on March 1, 2026. Majid Saeedi/Getty Images

“As dawn crept up, across the Central Command [area of operations], skies surged to life,” Caine said.

“More than 100 aircraft launched from land and sea—fighters, tankers, airborne early warning, electronic attack, bombers from the states, and unmanned platforms—forming a single synchronized wave.”

That wave arrived over Iran at 1:15 a.m. EST, 9:45 a.m. in Tehran.

That timeline was accelerated by “a trigger event conducted by the Israeli Defense Forces, enabled by the U.S. intelligence community” from the standard night attack to a mid-morning opening salvo that killed Iranian leader Ali Khamenei and up to 48 of the nation’s military leaders at a Tehran compound.

Illustration by The Epoch Times, Public Domain

That was among more than 1,000 targets struck in the first 24 hours of the aerial, missile, and drone assault.

“The full strength of America’s armed forces came together in a unified purpose against a capable and determined adversary,” Caine said.

“This deployment included thousands of service members from all branches, hundreds of advanced fourth- and fifth-generation fighters, dozens of refueling tankers, the Lincoln and Ford carrier strike groups and their embarked air wings, sustained flow of munitions, fuel supplies ... all supported with command and control, intelligence, surveillance, and reconnaissance network. And the flow of forces continues today.”

(Top) Nimitz-class aircraft carrier USS Abraham Lincoln (CVN 72), Arleigh Burke-class guided-missile destroyers USS Michael Murphy (DDG 112), USS Frank E. Petersen Jr. (DDG 121), Henry J. Kaiser-class fleet replenishment oiler USNS Henry J. Kaiser (T-AO-187), Lewis and Clark-class dry cargo ship USNS Carl Brashear (T-AKE 7), and U.S. Coast Guard Sentinel-class fast-response cutters USCG Robert Goldman (WPC-1142) and USCGC Clarence Sutphin. Jr. (WPC-1147) sail in formation in the Arabian Sea, on Feb. 6, 2026. (Bottom Left) An F/A-18E Super Hornet, attached to Strike Fighter Squadron (VFA) 14, prepares to land on the flight deck of aircraft carrier USS Abraham Lincoln (CVN 72) during Operation Epic Fury at Sea on March 1, 2026. (Bottom Right) U.S. sailors prepare to stage ordnance on the flight deck of the USS Abraham Lincoln on Feb. 28, 2026. Mass Communication Specialist 1st Class Jesse Monford/U.S. Navy via Getty Images, U.S. Navy via Getty Images

The nation’s highest-ranking military officer laid out the order of battle and what forces, as of March 2, were engaged in Operation Epic Fury, a rapid assembly of forces that “demonstrated the joint forces ability to adapt and project power at the time and place of [the United States’] choosing” that included “several combat firsts” to be made public “at some point in the future.”

Before the first missile struck, Caine said, “the first movers” were Space Force, Army, and Air Force electronics and cyber warfare technicians “layering non-kinetic effects, disrupting and degrading and blinding Iran’s ability to see, communicate, and respond.”

With Iranian communications disrupted and its air defenses “without the ability to see, coordinate, or respond effectively,” U.S. and Israeli air forces, with “swift, precise, and overwhelming strikes,” established local air superiority immediately, he said, setting the stage for a campaign the Pentagon maintains it can sustain, and expand if needed, for weeks.

Combat Firsts

With Iranian air defenses hacked or blinded before the opening salvo, the assault began with waves of Tomahawk cruise missiles—long-range precision weapons capable of striking targets hundreds of miles inland—launched by the aircraft carriers USS Abraham Lincoln in the Arabian Sea and USS Gerald R. Ford in the eastern Mediterranean Sea and their battlegroup destroyers.

The USS Gerald R. Ford, which had been deployed to the region in June 2025 during the 12-Day War that badly damaged, but did not destroy, Iran’s uranium enrichment program and was then dispatched to the southern Caribbean to lead Operation Southern Spear off Venezuela, was ordered back to the Sixth Fleet in January and is now in its eighth month of sustained operations.

It is to be relieved eventually by the USS George H.W. Bush, a Nimitz-class carrier undergoing post-overhaul sea trials.

With missiles outbound, hundreds of Air Force F-15s, F-16s, and stealth F-22 Raptors merged with carrier-launched F/A-18 Hornets, stealth F-35s, and EA-18G electronic warfare jets in the massive aerial attack against Iranian air defenses and missile-launch sites.

The fighters were later joined by Air Force stealth B-2 Spirit bombers that flew 17 hours from Whiteman Air Force Base in Missouri, which had struck suspected nuclear complexes with 30,000-pound “penetrator” munitions in June 2025.

(Top Left) A U.S. F-15 fighter plane prepares for landing in Mildenhall, England, on Jan. 7, 2026. (Top Right) B-2 Spirit Bombers fly over the White House on July 4, 2025. (Bottom Left) A U.S. F-35 fighter plane takes off in Mildenhall, England, on Jan. 7, 2026. (Bottom Right) A U.S. Air Force F22-Raptor takes off in Ceiba, Puerto Rico, on Jan. 4, 2026. Dan Kitwood/Getty Images, Eric Lee/Getty Images, Miguel J. Rodriguez Carrillo / AFP via Getty Images

In the opening phases of the Feb. 28 assault, they targeted ballistic missile sites with 2,000-pound precision-guided bombs, confirming that the focus was on degrading Iran’s air defenses and communications.

Ground-based Army precision strike missiles from the M142 high-mobility artillery rocket system mounted on “shoot and scoot” mobile launchers added to the fray, lobbing short-range ballistics into Iran from bases in the Gulf states, the first time the short-range ballistic missile system was used in combat.

The Pentagon has acknowledged that Operation Epic Fury is also the debut of a new low-cost ‌uncrewed combat attack system (LUCAS) drone—a one-way “suicide” drone reverse-engineered to mimic Iran’s Shahed 136 drone, which it has exported en masse to Russia for use in Ukraine.

Among the forces participating in the attack are Air Force MQ-9 Reaper drones carrying Hellfire missiles and guided bombs, twin-engine A-10 attack aircraft directed by E-3 Sentry and E-2 Hawkeye airborne surveillance and EA-11A BACN “Wi-Fi in the sky” reconnaissance jets, and KC-135 and KC-46 aerial refueling tankers.

Under attack from Iranian and Shia militias, there are about 2,400 U.S. soldiers in Syria and Iraq, including in Erbil, Iraq.

About 2,000 are from the Iowa National Guard, who are to be relieved by a unit from the 10th Mountain Division this spring.

At least 250 guardsmen left Iraq in mid-February, and on Feb. 27—before the attack was launched—the Iowa National Guard announced that 650 more were headed home.

It is uncertain what their status is now.

The U.S. base in Erbil is among installations across the region under sporadic Iranian and militia attacks.

Trump and War Secretary Pete Hegseth have not ruled out dispatching “boots on the ground,” although there is no indication that Army and Marine infantry forces have been ordered to deploy.

Read the rest here...

Tyler Durden Wed, 03/04/2026 - 23:20

Why The GOP Could Defy Precedent And Win The Midterms

Historically, the party in power almost always loses seats in midterm elections. There are only two exceptions to this rule. In 1934, under Franklin D. Roosevelt, and then in 2002, under George W. Bush. Are there signs that 2026 could be another precedent-shattering year? A new Harvard CAPS/Harris Poll survey conducted late last month suggests it could be. 

The poll has the generic congressional ballot tied at 50-50. Not only are these numbers on their face bad for the Democratic Party, but they also represent a significant shift from the Harvard CAPS/Harris January poll, when Republicans trailed Democrats by eight points.

The shift in the horse race is striking on its own. Perhaps the real question is why the GOP appears to have a fighting chance this year of defying precedent.

Pollsters handed respondents sample messages from both parties and asked whether they found them believable. 54% called the Republican pitch credible: "Republicans say that they are returning responsibility to government by arresting criminals, closing the borders, keeping taxes low, and lowering energy costs. We can't go back to the Democrats, who were allowing our cities and way of life to deteriorate and prices on energy and food to soar while fraud took billions and billions of dollars of their giveaway programs." 

Only 48% said the same of the Democratic counter, which promised free housing, free transportation, healthcare for all, free student loan relief, and a shakedown of billionaires to pay for it. Among likely midterm voters, the GOP message drives a 46-37 advantage in vote intent. The Democratic freebie platform produces a net one-point edge for Democrats among the same group — a rounding error.

Does that mean things can’t change? Not all at. In fact, 61% of respondents said they'd be receptive to the message that "we need to stop Donald Trump. He is a runaway dictator, and we need a check on his power by returning the Congress to the Democrats. His tariffs are increasing prices, and he is off on foreign adventures." That certainly implies that Democrat messaging can work; however, after both parties' full messaging was laid out to poll respondents, Republicans moved to a 51-49 lead on the ballot, a two-point GOP shift.

Trump's approval also gives the GOP signs of hope. His net approval improved from -6 points in January to -3 in February. Among likely midterm voters, he's net positive at 50-47. The trajectory matters as much as the snapshot, and it’s up.

Beneath the horse race, the structural terrain looks even less hospitable for Democrats. 

On economic management, voters trust the Trump administration over congressional Democrats 53-47. On whether today's economy reflects Biden-era or Trump-era policy, 59% say Trump, yet 52% say things are better now than under Biden. Republicans are credited and rewarded for that, a double-win for the GOP. While both parties’ approval ratings are underwater, the GOP edges out the Democratic Party by three points. 

The policy map reinforces the GOP’s positioning for the midterms. Lowering prescription drug prices commands a staggering 80% support. Deporting illegal immigrants who have committed crimes earns 75%. A full-scale crackdown on federal fraud comes in at 71%. Capping credit-card interest rates at 10% pulls 69%, and strengthening border security to close the border draws 67%. The same pattern showed up with President Trump’s State of the Union proposals. Banning members of Congress from trading individual stocks garnered 72% support, while federal retirement matching accounts attracted 70%.

On the issue of election integrity, it’s all great numbers for the GOP. Support for national voter ID gets 81% support. Removing non-citizens from voter rolls comes in at 80%. Requiring proof of citizenship to vote earns 75%. The SAVE America Act, which packages those provisions together, wins 71% overall support, including backing from half of Democrats and 69% of independents. When voters are asked to choose what matters more, 54% say preventing fraud outweighs maximizing access. Democrats have bet heavily that voter-integrity legislation is a political loser. This poll says otherwise.

The ideological fundamentals aren't moving in the left's direction either. Capitalism beats socialism 59-41 as voters' preferred economic system, with 76% saying America should run mostly as a free-enterprise country. 91% say people should own their own homes and private property. 84% want grocery stores to be private, not state-run. This is not good news for the party of Bernie Sanders, Alexandria Ocasio-Cortez, and Zohran Mamdani.

None of this means November is a lock for the GOP. Eight months is a lifetime in American politics. But the picture that emerges from this data is of a Republican Party whose core arguments are resonating with a majority of the public, giving them a real chance to defy precedent.

Keep in mind that the poll was taken before Iran... so the next one should be interesting. 

Tyler Durden Wed, 03/04/2026 - 22:50

Under Beijing's Wing: Iran's Arsenal

Authored by Zineb Riboua via Beyond the Ideological,

In 2015, the Joint Comprehensive Plan of Action (JCPOA) was sold to the American public and to the world as the definitive answer to Iran’s nuclear threat. The agreement placed extensive restrictions on uranium enrichment, centrifuge capacity, and stockpile levels, but said almost nothing about the one thing that would actually deliver a nuclear warhead to its target: ballistic missiles. Nothing about cruise missiles either. No limits on the development, testing, production, or deployment of the very weapons systems that transform a nuclear device from a dangerous secret in a bunker into a weapon that can destroy a city. A bomb is only as threatening as your ability to deliver it, and the JCPOA left Iran’s ability to deliver it completely unconstrained.

For Iran, this distinction matters more than it does for almost any other country on earth.

Decades of international sanctions have left Tehran with one of the weakest air forces in the region, an aging fleet incapable of penetrating the air defenses of Israel or any major Gulf state. Iran cannot deliver a nuclear weapon by aircraft. It cannot do so by sea with any reliability. The ballistic missile is the only component that gives the rest of the nuclear program strategic value.

What makes this failure even more consequential is who stepped in to exploit it.

Over the past two years, China has emerged as the principal external supplier of Iran’s ballistic missile program, providing everything from chemical precursors for solid rocket fuel to satellite guidance through its BeiDou-3 navigation network, which replaced American GPS across Iran’s entire military architecture. The U.S. Treasury Department sanctioned several Chinese entities for supplying the IRGC with chemicals used in missile fuel production.

Intelligence revealed Iranian cargo ships unloading shipments of sodium perchlorate at Bandar Abbas, a substance that bypasses existing monitoring mechanisms, in quantities sufficient to produce propellant for approximately 800 new missiles in a single delivery.

Beijing had also been negotiating the sale of CM-302 supersonic anti-ship missiles to Tehran, a system designed to sink aircraft carriers. In December 2025, American special forces raided a merchant vessel in the Indian Ocean carrying Chinese military cargo bound for the Revolutionary Guards.

By the time Operation Epic Fury launched, Iran possessed the largest ballistic missile arsenal in the Middle East, an estimated 2,000 missiles of varying ranges dispersed across hardened underground facilities, rebuilt and resupplied in large part by Chinese industrial networks.

The Deferral

But let’s take a step back and look at what happened:

The Obama administration’s decision to exclude missiles from the 2015 JCPOA agreement represented a calculated concession, and more fundamentally, an act of deliberate deferral. In fact, both China and Russia categorically refused to include missile restrictions in the multilateral negotiations, and Tehran declared its indigenous missile development a non-negotiable sovereign right.

Naturally, the Obama team, determined to secure a landmark diplomatic achievement before leaving office, separated the nuclear file from the missile file entirely, treating them as two distinct problems when they formed two halves of the same threat.

Obama especially framed the deal in aspirational terms, saying it provided “an opportunity to move in a new direction,” but the direction left the missile program entirely unaddressed. In the language of UN Security Council Resolution 2231, the provisions on missiles merely “called upon” Iran not to conduct certain activities, far weaker than the binding prohibition in the prior Resolution 1929, which had explicitly prohibited Iran from pursuing ballistic missile technology capable of delivering nuclear warheads.

The administration even watered down the enforcement language of that earlier resolution to get the deal through, reasoning that missiles could be addressed later. That word, “later,” defined the entire approach. Iran tested ballistic missiles within weeks of the JCPOA entering into force, and no mechanism existed to stop it.

Free from constraint, Iran used the decade that followed to transform its missile program from a crude deterrent into a sophisticated, mass-produced strategic arsenal. It perfected guidance systems, extended ranges to cover all of the Middle East and parts of Europe, transitioned from liquid to solid-fuel propulsion, and constructed hardened underground launch facilities designed to withstand aerial bombardment. The interesting part? None of this violated a single provision of the deal.

And the missiles served a purpose beyond delivery: Iran aimed to amass such an overwhelming conventional arsenal that military action against its nuclear program would become prohibitively costly. Secretary of State Marco Rubio put today the math in stark terms: “They can build 100 ballistic missiles a month. We build 6 or 7 interceptors a month.” Each interceptor costs between $1 million and $15 million, while each Iranian missile costs between $200,000 and $500,000.

But the missiles did not stop at Israel’s borders. In the opening hours of Operation Epic Fury, Iranian retaliatory strikes slammed into civilian areas across Abu Dhabi, Dubai, and Manama; debris from intercepted projectiles rained near Kuwait International Airport. In the UAE alone, three people were killed and at least 58 wounded. Iran, in this sense, was (and still is) holding Arab capitals hostage, using its missile arsenal as a coercive instrument to punish the Gulf states for daring to deepen their alignment with Washington and/or Jerusalem.

The cruelest irony is that Riyadh and Abu Dhabi saw this coming. Neither was consulted as a stakeholder during the JCPOA negotiations, and both warned — publicly and repeatedly — that any deal leaving Iran’s missile program untouched would one day endanger their populations. They were dismissed as alarmist. Iranian warheads landing on Gulf Arab soil have now settled the argument.

The Reversal

Rubio's articulation of the objectives behind Epic Fury collapsed a distinction that three decades of American diplomacy had fought to preserve. "The objectives of this operation are to destroy their ballistic missile capability and make sure they can't rebuild, and make sure that they can't hide behind that to have a nuclear program," he said. One sentence fused what the JCPOA had deliberately kept apart, the nuclear file and the missile file, and redefined what an acceptable Iran looks like.

The urgency is real. Israeli defense planners had tracked how Chinese components, machine tools, and technical guidance were accelerating Iranian production lines, and their projections pointed toward catastrophe: 5,000 missiles by 2027, potentially 10,000 by the end of the decade. Every warhead carried a Chinese fingerprint, from solid-fuel propellant chemistry to the precision guidance systems that turned inaccurate rockets into weapons capable of striking downtown Abu Dhabi. Beijing was not merely trading with Tehran.

The Chinese government was industrializing Iran’s capacity to hold the Middle East at gunpoint. Whatever Beijing’s full calculus, the military consequences of that investment are legible on at least three levels.

• First, every interceptor the United States fires over the Middle East represents one fewer available for the Western Pacific. THAAD batteries, Patriot systems, and SM-3 carrying naval vessels all draw from the same overstretched production lines. By accelerating Iran’s missile output, China imposed a war of attrition on American munitions without deploying a single soldier.

• Second, Every Iranian salvo also forces the United States to reveal electronic warfare capabilities, radar signatures, and interceptor performance data in real combat conditions, giving Chinese military intelligence a live laboratory to study American defense systems without ever confronting them directly.

• Third, if the United States proved unable to shield its Arab partners from sustained bombardment, every ally watching from Tokyo to Manila to Taipei would draw the same conclusion: Washington’s promises have material limits.

The drain on American readiness had already begun.

During the twelve-day war in 2025, the United States burned through roughly 150 THAAD interceptors, munitions that take years to produce and that feed the same queue supporting Pacific deterrence.

Only a few dozen replacements followed. Iran was rebuilding faster than America could reload. Left unchecked, the math led to a devastating fork: accept Iranian nuclear breakout behind a missile shield too thick to penetrate, or fight a war in the Middle East with stockpiles earmarked for the Taiwan Strait. Beijing had engineered precisely this dilemma. Operation Epic Fury represented the decision to prevent that choice from ever arriving. By destroying the missiles, the United States turned years of Chinese strategic investment and billions in transferred technology to ash.

Subscribe to Beyond the Ideological 

Tyler Durden Wed, 03/04/2026 - 22:20

Tanker Hit By "Large Explosion" In Waters Off Kuwait, Causing Oil Spill

In the most dramatic escalation yet involving shipping in the Persian Gulf, the United Kingdom Maritime Trade Operations (UKMTO), a British naval authority responsible for monitoring shipping safety in high-risk areas, said it received a report that around 1040pm UTC, a "large explosion" took place on a tanker 30 nautical miles south east off Mubarak Al Kebeer, on the coast of Kuwait. "There is oil in the water coming from a cargo tank", which could have a disastrous environmental impact, especially if its reaches the desalinization plants that keep much of the Gulf population alive.

The tanker, which was at anchor in the Khor al-Zubair lightering zone - a critical area for loading Iraqi heavy fuel oil exports - began taking on water following the blast. Oil was seen leaking from a damaged cargo tank into the surrounding waters, prompting concerns over potential environmental impacts. Despite the severity, no fires were reported, and all crew members remained safe and accounted for. Kuwait's interior ministry later clarified that the incident took place outside the country's territorial waters, at least 60 kilometers from the port

BREAKING A tanker was hit by a "large explosion" in the waters off Kuwait, causing an oil spill, British maritime security agency UKMTO said Thursday pic.twitter.com/i8mLJVn9bs

— AFP News Agency (@AFP) March 5, 2026

The targeted area off Kuwait is particularly significant as it lies within Iraq's primary oil export corridor, a zone previously considered outside the main conflict perimeter. Iraq, not directly involved in the US-Iran war, has already reduced oil production due to storage shortages and loading delays caused by the broader disruptions. No group or nation has claimed responsibility for the Kuwait incident, but analysts suggest it could be linked to Iranian proxies or other actors exploiting the chaos.

The report, which was sourced to the Master of a tanker at anchor, comes as the fifth day of the conflict draw to a close, but no near end is in sight after Israel and the US hit Iran in joint strikes on several key sites on Saturday, February 28. Iran has retaliated by striking sites across the Middle East, and hitting several ships in the gulf as part of its blockade of the Straits of Hormuz. 

UKMTO WARNING INCIDENT 014-026

Click here to view the full warning ⤵️ https://t.co/ygKSBOCLZi#MaritimeSecurity #MarSec pic.twitter.com/RPZXtz6RU7

— UKMTO Operations Centre (@UK_MTO) March 5, 2026

UKMTO said vessels are advised to transit with caution and report any suspicious activity to the maritime operation.

This incident is hardly isolated, and is part of a widening conflict in the Middle East. The Persian Gulf has become increasingly volatile since the outbreak of hostilities between the United States and Iran, with multiple attacks on commercial and military vessels reported in recent days. For instance, prior to the explosion, a US submarine sank an Iranian frigate near Sri Lanka, an Iranian corvette was set ablaze at Bandar Abbas, and Qatar's LNG terminals suffered outages. These events have stranded hundreds of ships, including oil tankers, outside the Strait of Hormuz—a chokepoint for about 20% of global oil supplies.

Other recent maritime attacks in the region include a seafarer killed in an explosion off Oman on March 1 and a Russian-flagged LNG tanker sinking in the Mediterranean, blamed by Moscow on Ukrainian sea drones. These incidents underscore the expanding scope of the conflict, turning once-safe waters into high-risk zones for global trade.

The attack has immediate ramifications for energy markets. With Iraqi exports potentially hampered, oil prices could face upward pressure, exacerbating the disruptions already pricing in closures rather than mere interruptions. Shipping insurers and commodity traders are on high alert, as the Gulf's transformation into a "hunting ground" without clear boundaries threatens further escalations.

Environmentally, the oil spill poses risks to marine life and coastal ecosystems in the Persian Gulf, a region already vulnerable to pollution from decades of oil activities. Cleanup efforts will likely be complicated by the ongoing security threats.

As investigations continue, the international community watches closely, with calls for enhanced maritime security to protect vital trade routes. This event serves as a stark reminder of how regional conflicts can ripple into global economic and environmental challenges.

Tyler Durden Wed, 03/04/2026 - 22:09

Peter Schiff: Printing Money Is Not the Cure for Cononavirus



In his most recent podcast, Peter Schiff talked about coronavirus and the impact that it is having on the markets. Earlier this month, Peter said he thought the virus was just an excuse for stock market woes. At the time he believed the market was poised to fall anyway. But as it turns out, coronavirus has actually helped the US stock market because it has led central banks to pump even more liquidity into the world financial system. All this means more liquidity — central banks easing. In fact, that is exactly what has already happened, except the new easing is taking place, for now, outside the United States, particularly in China.” Although the new money is primarily being created in China, it is flowing into dollars — the dollar index is up — and into US stocks. Last week, US stock markets once again made all-time record highs. In fact, I think but for the coronavirus, the US stock market would still be selling off. But because of the central bank stimulus that has been the result of fears over the coronavirus, that actually benefitted not only the US dollar, but the US stock market.” In the midst of all this, Peter raises a really good question. The primary economic concern is that coronavirus will slow down output and ultimately stunt economic growth. Practically speaking, the world would produce less stuff. If the virus continues to spread, there would be fewer goods and services produced in a market that is hunkered down. Why would the Federal Reserve respond, or why would any central bank respond to that by printing money? How does printing more money solve that problem? It doesn’t. In fact, it actually exacerbates it. But you know, everybody looks at central bankers as if they’ve got the solution to every problem. They don’t. They don’t have the magic wand. They just have a printing press. And all that creates is inflation.” Sometimes the illusion inflation creates can look like a magic wand. Printing money can paper over problems. But none of this is going to fundamentally fix the economy. In fact, if central bankers were really going to do the right thing, the appropriate response would be to drain liquidity from the markets, not supply even more.” Peter explained how the Fed was originally intended to create an “elastic” money supply that would expand or contract along with economic output. Today, the money supply only goes in one direction — that’s up. The economy is strong, print money. The economy is weak, print even more money.” Of course, the asset that’s doing the best right now is gold. The yellow metal pushed above $1,600 yesterday. Gold is up 5.5% on the year in dollar terms and has set record highs in other currencies. Because gold is rising even in an environment where the dollar is strengthening against other fiat currencies, that shows you that there is an underlying weakness in the dollar that is right now not being reflected in the Forex markets, but is being reflected in the gold markets. Because after all, why are people buying gold more aggressively than they’re buying dollars or more aggressively than they’re buying US Treasuries? Because they know that things are not as good for the dollar or the US economy as everybody likes to believe. So, more people are seeking out refuge in a better safe-haven and that is gold.” Peter also talked about the debate between Trump and Obama over who gets credit for the booming economy – which of course, is not booming.

We are living in crazy times. I have a hard time believing that most of the general public is not awake, but in reality, they are. We've never seen anything like this; I mean not even under Obama during the worst part of the Great Recession." Now the Fed is desperately trying to keep interest rates from rising. The problem is that it's a much bigger debt bubble this time around , and the Fed is going to have to blow a lot more air into it to keep it inflated. The difference is this time it's not going to work." It looks like the Fed did another $104.15 billion of Not Q.E. in a single day. The Fed claims it's only temporary. But that is precisely what Bernanke claimed when the Fed started QE1. Milton Freedman once said, "Nothing is so permanent as a temporary government program." The same applies to Q.E., or whatever the Fed wants to pretend it's doing. Except this is not QE4, according to Powell. Right. Pumping so much money out, and they are accusing China of currency manipulation ? Wow! Seriously! Amazing! Dump the U.S. dollar while you still have a chance. Welcome to The Atlantis Report. And it is even worse than that, In addition to the $104.15 billion of "Not Q.E." this past Thursday; the FED added another $56.65 billion in liquidity to financial markets the next day on Friday. That's $160.8 billion in two days!!!! in just 48 hours. That is more than 2 TIMES the highest amount the FED has ever injected on a monthly basis under a Q.E. program (which was $80 billion per month) Since this isn't QE....it will be really scary on what they are going to call Q.E. Will it twice, three times, four times, five times what this injection per month ! It is going to be explosive since it takes about 60 to 90 days for prices to react to this, January should see significant inflation as prices soak up the excess liquidity. The question is, where will the inflation occur first . The spike in the repo rate might have a technical explanation: a misjudgment was made in the Fed's money market operations. Even so, two conclusions can be drawn: managing the money markets is becoming harder, and from now on, banks will be studying each other's creditworthiness to a greater degree than before. Those people, who struggle with the minutiae of money markets, and that includes most professionals, should focus on the causes and not the symptoms. Financial markets have recovered from each downturn since 1980 because interest rates have been cut to new lows. Post-2008, they were cut to near zero or below zero in all major economies. In response to a new financial crisis, they cannot go any lower. Central banks will look for new ways to replicate or broaden Q.E. (At some point, governments will simply see repression as an easier option). Then there is the problem of 'risk-free' assets becoming risky assets. Financial markets assume that the probability of major governments such as the U.S. or U.K. defaulting is zero. These governments are entering the next downturn with debt roughly twice the levels proportionate to GDP that was seen in 2008. The belief that the policy worked was completely predicated on the fact that it was temporary and that it was reversible, that the Fed was going to be able to normalize interest rates and shrink its balance sheet back down to pre-crisis levels. Well, when the balance sheet is five-trillion, six-trillion, seven-trillion when we're back at zero, when we're back in a recession, nobody is going to believe it is temporary. Nobody is going to believe that the Fed has this under control, that they can reverse this policy. And the dollar is going to crash. And when the dollar crashes, it's going to take the bond market with it, and we're going to have stagflation. We're going to have a deep recession with rising interest rates, and this whole thing is going to come imploding down. everything is temporary with the fed including remaining off the gold standard temporary in the Fed's eyes could mean at least 50 years This liquidity problem is a signal that trading desks are loaded up on inventory and can't get rid of it. Repo is done out of a need for cash. If you own all of your securities (i.e., a long-only, no leverage mutual fund) you have no need to "repo" your securities - you're earning interest every night so why would you want to 'repo' your securities where you are paying interest for that overnight loan (securities lending is another animal). So, it is those that 'lever-up' and need the cash for settlement purposes on securities they've bought with borrowed money that needs to utilize the repo desk. With this in mind, as we continue to see this need to obtain cash (again, needed to settle other securities purchases), it shows these firms don't have the capital to add more inventory to, what appears to be, a bloated inventory. Now comes the fun part: the Treasury is about to auction 3's, 10's, and 30-year bonds. If I am correct (again, I could be wrong), the Fed realizes securities firms don't have the shelf space to take down a good portion of these auctions. If there isn't enough retail/institutional demand, it will lead to not only a crappy sale but major concerns to the street that there is now no backstop, at all, to any sell-off. At which point, everyone will want to be the first one through the door and sell immediately, but to whom? If there isn't enough liquidity in the repo market to finance their positions, the firms would be unable to increase their inventory. We all saw repo shut down on the 2008 crisis. Wall St runs on money. . OVERNIGHT money. They lever up to inventory securities for trading. If they can't get overnight money, they can't purchase securities. And if they can't unload what they have, it means the buy-side isn't taking on more either. Accounts settle overnight. This includes things like payrolls and bill pay settlements. If a bank doesn't have enough cash to payout what its customers need to pay out, it borrows. At least one and probably more than one banks are insolvent. That's what's going on. First, it can't be one or two banks that are short. They'd simply call around until they found someone to lend. But they did that, and even at markedly elevated rates, still, NO ONE would lend them the money. That tells me that it's not a problem of a couple of borrowers, it's a problem of no lenders. And that means that there's no bank in the world left with any real liquidity. They are ALL maxed out. But as bad as that is, and that alone could be catastrophic, what it really signals is even worse. The lending rates are just the flip side of the coin of the value of the assets lent against. If the rates go up, the value goes down. And with rates spiking to 10%, how far does the value fall? Enormously! And if banks had to actually mark down the value of the assets to reflect 10% interest rates, then my god, every bank in the world is insolvent overnight. Everyone's capital ratios are in the toilet, and they'd have to liquidate. We're talking about the simultaneous insolvency of every bank on the planet. Bank runs. No money in ATMs, Branches closed. Safe deposit boxes confiscated. The whole nine yards, It's actually here. The scenario has tended to guide toward for years and years is actually happening RIGHT NOW! And people are still trying to say it's under control. Every bank in the world is currently insolvent. The only thing keeping it going is printing billions of dollars every day. Financial Armageddon isn't some far off future risk. It's here. Prepare accordingly. This fiat system has reached the end of the line, and it's not correct that fiat currencies fail by design. The problem is corruption and manipulation. It is corruption and cheating that erodes trust and faith until the entire system becomes a gigantic fraud. Banks and governments everywhere ARE the problem and simply have to be removed. They have lost all trust and respect, and all they have left is war and mayhem. As long as we continue to have a majority of braindead asleep imbeciles following orders from these psychopaths, nothing will change. Fiat currency is not just thievery. Fiat currency is SLAVERY. Ultimately the most harmful effect of using debt of undefined value as money (i.e., fiat currencies) is the de facto legalization of a caste system based on voluntary slavery. The bankers have a charter, or the legal *right*, to create money out of nothing. You, you don't. Therefore you and the bankers do not have the same standing before the law. The law of the land says that you will go to jail if you do the same thing (creating money out of thin air) that the banker does in full legality. You and the banker are not equal before the law. ALL the countries of the world; Islamic or secular, Jewish or Arab, democracy or dictatorship; all of them place the bankers ABOVE you. And all of you accept that only whining about fiat money going down in exchange value over time (price inflation which is not the same as monetary inflation). Actually, price inflation itself is mainly due to the greed and stupidity of the bankers who could keep fiat money's exchange value reasonably stable, only if they wanted to. Witness the crash of silver and gold prices which the bankers of the world; Russian, American, Chinese, Jewish, Indian, Arab, all of them collaborated to engineer through the suppression and stagnation of precious metals' prices to levels around the metals' production costs, or what it costs to dig gold and silver out of the ground. The bankers of the world could also collaborate to keep nominal prices steady (as they do in the case of the suppression of precious metals prices). After all, the ability to create fiat money and force its usage is a far more excellent source of power and wealth than that which is afforded simply by stealing it through inflation. The bankers' greed and stupidity blind them to this fact. They want it all, and they want it now. In conclusion, The bankers can create money out of nothing and buy your goods and services with this worthless fiat money, effectively for free. You, you can't. You, you have to lead miserable existences for the most of you and WORK in order to obtain that effectively nonexistent, worthless credit money (whose purchasing/exchange value is not even DEFINED thus rendering all contracts based on the null and void!) that the banker effortlessly creates out of thin air with a few strokes of the computer keyboard, and which he doesn't even bother to print on paper anymore, electing to keep it in its pure quantum uncertain form instead, as electrons whizzing about inside computer chips which will become mute and turn silent refusing to tell you how many fiat dollars or euros there are in which account, in the absence of electricity. No electricity, no fiat, nor crypto money. It would appear that trust is deteriorating as it did when Lehman blew up . Something really big happened that set off this chain reaction in the repo markets. Whatever that something is, we aren't be informed. They're trying to cover it up, paper it over with conjured cash injections, play it cool in front of the cameras while sweating profusely under the 5 thousands dollar suits. I'm guessing that the final high-speed plunge into global economic collapse has begun. All we see here is the ripples and whitewater churning the surface, but beneath the surface, there is an enormous beast thrashing desperately in its death throws. Now is probably the time to start tying up loose ends with the long-running prep projects, just saying. In other words, prepare accordingly, and Get your money out of the banks. I don't care if you don't believe me about Bitcoin. Get your money out of the banks. Don't keep any more money in a bank than you need to pay your bills and can afford to lose.











The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more













The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

The FBI released a summary of its file from the Hillary Clinton email investigation on Friday, showing details of Clinton's explanation of her use of a private email server to handle classified communications. The release comes nearly two months after FBI Director James Comey announced that although Clinton's handling of classified information was "extremely careless," it did not rise to the level of a prosecutable offense. Attorney General Loretta Lynch announced the next day that she would not pursue charges in the matter. "We are making these materials available to the public in the interest of transparency and in response to numerous Freedom of Information Act (FOIA) requests," the FBI noted in a statement sent to reporters with links to the documents. The documents include notes from Clinton's July 2 interview with agents, as well as a "factual summary of the FBI's investigation into this matter," according to the FBI release. Throughout her interview with agents, Clinton repeatedly said she relied on the career professionals she worked with to handle classified information correctly. The agents asked about a series of specific emails, and in each case Clinton said she wasn't worried about the particular material being discussed on a nonclassified channel.