Beijing Bans Four New Zealand MPs For "Crossing Red Line" With Taiwan Visit

In a first, China has banned four New Zealand Members of Parliament for a year over their visit to Taiwan, New Zealand's foreign ministry says. The MPs learned of the ban - which the Chinese Embassy said could be reduced or waived with an apology - when they returned from the trip in May, local media reported on Thursday.

On Thursday, Chinese foreign ministry spokeswoman Mao Ning said: “Recently, certain New Zealand members of parliament, disregarding China’s serious concerns and firm opposition, wilfully paid a visit to China’s Taiwan region, violating the one-China principle and interfering in China’s internal affairs.

“In accordance with relevant laws of the People’s Republic of China, the Chinese side has decided to adopt measures against the individuals concerned, including denial of entry into China.”

This was the first time China has imposed travel bans on New Zealand MPs for visiting Taiwan - a move that "surprised" foreign minister Winston Peters, a ministry spokesperson said in a statement to the BBC. China claims the self-governed island of Taiwan as its territory, and has tried to restrict the island's foreign engagements.

"New Zealand MPs have visited Taiwan for decades and such visits are not inconsistent with New Zealand's One China policy," the spokesperson said, quoted by the BBC.

In a statement on Thursday, the Chinese Embassy in New Zealand said the ban was a result of the MPs "disregarding China's serious concerns" and insisting on visiting Taiwan as parliamentarians. The visit had sent "wrong signals" to Taiwan's ruling Democratic Progressive Party and "Taiwan independence' forces", the statement said, adding that it constituted "interference in China's internal affairs".

The visit in May comprised lawmakers from the ruling coalition - Maureen Pugh, David Wilson and Laura McClure - as well as Duncan Webb from the opposition Labour Party.

Photos from the visit by the New Zealand MPs were posted on social media by Taiwan's foreign minister Lin Chia-lung

McClure, from the ACT party, said the travel ban was "a type of foreign interference" and that she was "not going to apologize for visiting Taiwan", the New Zealand Herald reported. She told Radio New Zealand that she was "quite surprised and shocked" by the ban as similar visits had happened for years previously. She added that New Zealand MPs "have the right to travel freely around the globe".

"That is part of living in a free democracy," she said.

New Zealand foreign minister Peters has instructed foreign ministry officials in Beijing and Wellington to discuss the matter with Chinese authorities to "better understand" the "departure from past practice", the spokesperson said.

New Zealand established formal diplomatic ties with Beijing in 1972 and has since maintained a One China policy - the diplomatic acknowledgement of China's position that there is only one Chinese government. New Zealand has formal ties only with Beijing, and not with Taipei. 

But like many countries, New Zealand has also maintained regular exchanges with Taiwan.

Last year, a group of New Zealand MPs met Taiwanese President Lai Ching-te during a trip to Taiwan. The Chinese embassy in New Zealand criticised the trip, describing the MPs as "colluding with 'Taiwan independence' separatist forces".

Beijing also previously condemned a group of New Zealand lawmakers for attending a reception hosted by Taiwan's de facto embassy in Wellington last October. 

Taiwan has previously accused China of trying to intervene in its diplomatic ties with other countries. Last month, Lai visited Eswatini - Taiwan's only diplomatic ally in Africa - days after his government said a trip had been cancelled due to China pressuring African countries to bar him from flying over their territories.

That Eswatini visit was later brought up by Taiwan's foreign minister Lin Chia-lung in a post about the New Zealand delegation's visit.

"President Lai's recent visit to Eswatini has once again made the world feel the challenges facing Taiwan's diplomacy," he wrote on Facebook.

Lin further noted that the visit by the New Zealand MPs "not only showed the support of the New Zealand Parliament for Taiwan, but also made the friendship between Taiwan and New Zealand stronger".

China has sanctioned US lawmakers in the past for visiting Taiwan, including former House Speaker Nancy Pelosi in 2022. The following year, China sanctioned US Representative Michael McCaul, claiming that his visit to Taiwan sent a "serious wrong signal to Taiwan independence separatist forces".

Tyler Durden Thu, 06/04/2026 - 23:00

Satellite Images Expose China’s Massive New 120-Meter Sail-Free Mystery Submarine

Authored by Aamir Khollam via Interesting Engineering,

China has quietly launched another advanced submarine, signaling the rapid expansion of a naval force that already outpaces Western production rates.

ROKS Dosan Ahn Changho class submarine and satellite imagery of China's sailless submarine. Wikimedia Commons and @Mack8miltech on X

Fresh satellite imagery shows a large new submarine at Shanghai's Jiangnan Shipyard. The vessel features an unusual "sailless" profile and a highly streamlined hull. Analysts say the design could reflect China's push toward faster, quieter, and harder-to-detect underwater platforms.

The launch comes as the U.S. and its allies struggle to increase submarine output. China, meanwhile, has launched roughly 15 to 20 submarines during the past five years. Several belong to entirely new classes.

Streamlined Underwater Design

The newly spotted submarine measures around 120 meters long. Its beam appears narrower than other recent Chinese attack submarines, while satellite imagery also shows X-shaped stern control surfaces and what may be a shrouded propulsion system.

Defense analysts believe the submarine could use a pumpjet propulsor. That setup reduces underwater noise at higher speeds compared to traditional propellers. The vessel's most striking feature, however, remains the absence of a traditional sail.

Conventional submarines rely on sails to house periscopes, communication masts, and snorkel systems. Removing that structure cuts drag and improves hydrodynamic efficiency. A cleaner hull shape can improve submerged speed and maneuverability while also reducing acoustic signatures, making the submarine harder to track.

China previously tested similar concepts. About eight years ago, the same shipyard launched a smaller experimental submarine with a reduced sail design. More recently, Chinese shipbuilders revealed unmanned underwater vehicle concepts with similar hull forms.

Questions Over Propulsion

The submarine's propulsion system remains unclear, though analysts believe a standard nuclear reactor remains the most likely option due to the vessel's size.

Another possibility involves China's emerging "nuclear-AIP" technology. That concept combines a low-power nuclear reactor with air-independent propulsion principles. Such systems promise longer endurance without the complexity of full-sized nuclear attack submarines.

China already launched one submarine using that concept. The Type-041 Zhou-class submarine appeared at Wuhan's Wuchang Shipyard in 2024. Experts, however, consider a traditional nuclear-powered attack submarine more likely for this latest design.

At nearly 400 feet long, the submarine appears too narrow to serve as a ballistic missile submarine. China's newest JL-3 submarine-launched ballistic missiles require significantly larger launch compartments.

Expanding Production Capacity

The emergence of the new submarine also raises questions about China's industrial strategy. Around the same time, another submarine reportedly launched from Huludao Shipyard, China's primary nuclear submarine construction facility. Analysts suspect both submarines could belong to the same new class.

If confirmed, that would mark a major shift in Chinese naval manufacturing. Western shipyards often struggle to build more than one nuclear submarine at a time. China may now operate parallel production lines for advanced submarine programs.

Beijing has released no official information about the submarine. Chinese authorities rarely announce first-in-class submarine launches, especially for sensitive naval projects. That secrecy leaves outside analysts relying on satellite imagery and defense assessments to piece together the submarine's mission and capabilities.

Even with limited information, the message appears clear. China continues to accelerate submarine development while experimenting with increasingly unconventional underwater designs.

Tyler Durden Thu, 06/04/2026 - 22:35

Trump Decries Communism, Says Its 'Breathtaking Popularity' Turns To 'Death, Destruction, Squalor'

Authored by Joseph Lord via The Epoch Times,

Speaking to reporters in the Oval Office on June 3, President Donald Trump decried communism, saying that the ideology leads to “death, destruction, and squalor.”

Speaking to reporters in the Oval Office on June 3, President Donald Trump decried communism, saying that the ideology leads to “death, destruction, and squalor.”

Trump said that the “free houses,” “free food,” and “free everything” offered by communist ideas “eventually ...… pic.twitter.com/2h7uB6B5Zg

— The Epoch Times (@EpochTimes) June 4, 2026

Trump said that the “free houses,” “free food,” and “free everything” offered by communist ideas “eventually ... ends, and it leads to death, destruction, and squalor—100 percent of the time.”

Trump was responding to a question from NTD, a sister outlet of The Epoch Times, related to a post he made on Truth Social the same day discussing communist ideology.

“Communists always do well with the voters, or as they would say, the people in the early years, but in the end, the country, state, or city goes to hell. Great violence proceeds at levels never seen before, and the entity dissolves into poverty, squalor, and crime,” Trump wrote in that post.

“Remember, breathtaking ‘popularity’ first, and then guaranteed death and destruction.”

The comments came as the eastern hemisphere entered June 4—the anniversary of the Chinese Communist Party’s brutal massacre of thousands of peaceful pro-democracy demonstrators in Tiananmen Square on June 4, 1989.

Communism is an ideology and system that has directly caused the deaths of an estimated 100 million people worldwide, although some estimates indicate as many as 200 million. Today, the five communist regimes that still exist—in China, North Korea, Vietnam, Cuba, and Laos—are among the world’s worst violators of human rights.

The president told reporters that his Truth Social post was inspired by his concerns about policies and candidates in places like New York and California.

The president specifically referenced New York City Mayor Zohran Mamdani, who openly ran his 2025 campaign as a self-described democratic socialist. Mamdani has drawn national reactions since his surprise victory over former New York Gov. Andrew Cuomo and Republican Curtis Sliwa.

Democratic socialism describes an economic system under which the government provides certain key services, such as education and healthcare, through the use of a progressive taxation system. Critics have warned that such ideas work while the populace is wealthy but eventually fail, and lead to communist systems.

Before his election, Trump had been openly critical of Mamdani. The two said they had a strong working relationship since they first met in person in November 2025.

Trump has expressed personal admiration for Mamdani while maintaining his opposition to the New York Democrat’s politics—a tone he took again in his remarks on Wednesday.

“I watched [Mamdani in] New York, and you know, I liked him very much,” Trump said, adding a reference to Mamdani’s November visit and a second visit in February this year.

“He stood right here, and he’s been in the office a couple of times.”

Trump then said his ideological disagreements with Mamdani remain intact.

“He’s a smart guy, I don’t understand why he thinks it’s okay for all these companies that pay hundreds of millions of dollars in taxes a year to leave,” Trump said.

“You’re not going to have any tax base, and you’re going to end up in hunger and squalor and death and destruction.”

Trump was referencing warnings from chambers of business and other groups that the major companies and ultra-wealthy could begin to leave New York City as Mamdani moves to institute higher taxes on top earners in the city.

Trump said that while it’s harder to make the case for free enterprise, that system is the foundation of the United States’ success and global leadership.

“Free enterprise is tougher to sell, but that’s what’s made our country great, and that’s why it’s great again now,” the president said from the Oval Office.

Tyler Durden Thu, 06/04/2026 - 21:45

Feds Raid Newport Mansion, Arrest Businessman Accused Of Routing U.S. Technology To Iran

Federal authorities arrested 63 year old Newport Coast technology executive Jamshid Ghomi during an early-morning operation at his luxury Orange County residence on Wednesday, according to the NY Post.

He faces federal charges related to alleged violations of U.S. sanctions against Iran.

Investigators claim Ghomi orchestrated a long-running scheme to obtain American-made networking and computer equipment and funnel it to customers in Iran, including organizations tied to the country's military and nuclear sectors. According to prosecutors, the operation generated millions of dollars and relied on overseas intermediaries and shell companies to conceal the equipment's final destination.

Photo: CA Post/NY Post

The NY Post writes that authorities allege that, over many years, Ghomi acquired restricted technology from U.S. suppliers and routed shipments through third countries before they reached Iran. The government says the equipment was ultimately delivered to numerous Iranian businesses and state-affiliated entities, some of which were already subject to U.S. sanctions.

Agents executed a search warrant at Ghomi's residence before taking him into custody. Federal officials are also examining possible financial crimes, including money laundering and tax-related offenses. Court filings allege that his business brought in substantial revenue while relatively little income was reported to tax authorities.

Photo: DOJ

U.S. Attorney Bill Essayli said the case reflects the government's effort to enforce sanctions laws and pursue both criminal penalties and the forfeiture of assets connected to the alleged conduct.

He concluded: “Our nation’s laws prohibiting doing business with one of the world’s largest state sponsors of terrorism must be enforced and obeyed.”

Tyler Durden Thu, 06/04/2026 - 21:20

Texas AG Launches Investigation Into Glyphosate In Food

Authored by Naveen Athrappully via The Epoch Times,

Texas Attorney General Ken Paxton has initiated an investigation into glyphosate contamination in food, with major manufacturers such as PepsiCo and Bayer being subjected to the probe.

Workers spray for insects and weeds at a fruit farm in Mesa, Calif., on March 27, 2020. Brent Stirton/Getty Images

Glyphosate is a commonly used herbicide applied to genetically engineered crops and is the main ingredient in Roundup weed killer, Paxton's office said in a June 2 statement. In 2015, the World Health Organization's International Agency for Research on Cancer classified glyphosate as "probably carcinogenic to humans." The organization also concluded that the herbicide showed "strong" evidence for genotoxicity, which refers to the ability to damage a cell's genetic information.

"Since then, extensive human and animal research has shown that glyphosate contributes to endocrine disruption, infertility, kidney disease, and autoimmune diseases, in addition to its cancer-causing properties," the attorney general's statement read.

"More than 250 million pounds of glyphosate are sprayed in the United States each year. Research has found that over 70 percent of American adults have detectable traces of glyphosate in their bodies compared to a mere 12 percent in 1993. Scientists attribute much of this dramatic increase to the widespread use of glyphosate as a desiccant."

Desiccation is the process of applying herbicides to crops prior to harvest to ensure they uniformly dry down, a practice responsible for more than 90 percent of glyphosate found in food.

The Environmental Protection Agency (EPA) deems glyphosate as an effective way to manage noxious and invasive weeds, the agency said in a May 5 update.

In agriculture, glyphosate is used in a wide range of crops, including corn, soybean, leafy vegetables, legumes, cereal grains, citrus, herbs and spices, nuts, oilseed crops, and sugarcane. The herbicide is also used for the conservation of pastures, forests, turf grass, rangeland, aquatic areas, parks, wildlife management areas, and paved areas.

The EPA said there are "no risks of concern to human health from current uses of glyphosate" and that there is "no indication that children are more sensitive to glyphosate."

However, Paxton's office said in its recent statement that children are "particularly vulnerable to glyphosate's harms" due to the widespread use of oats in cereals, cookies, and breakfast bars. While the EPA bans the use of glyphosate as a desiccant on oats in the United States, major companies import oats from nations where desiccation is allowed.

Children are exposed to food products that are "some of the most glyphosate-contaminated" food items sold in the United States, including those that are marketed as "healthy."

Paxton's office has sent Civil Investigative Demands to major pesticide and food manufacturers, such as Bayer and PepsiCo. A Civil Investigative Demand is an administrative subpoena allowing government agencies to request private entities to submit significant information without having to first go through court procedures.

"If any corporation is using regulatory loopholes to poison our kids with glyphosate, we will find out and we will secure justice," Paxton said.

"My office is also investigating whether major food companies are complying with Texas law and whether consumers, especially parents, have been misled about the health claims of common food products marketed to their families. No corporation is above the law, and no illegal action will go unpunished."

The Epoch Times reached out to Bayer and PepsiCo for comment but did not receive a response by publication time.

Glyphosate Necessity In Farms

A major controversy erupted in February when President Donald Trump signed an executive order declaring America's supply of glyphosate a critical component of national and food security.

"Lack of access to glyphosate-based herbicides would critically jeopardize agricultural productivity, adding pressure to the domestic food system, and may result in a transition of cropland to other uses due to low productivity," the executive order said.

"Glyphosate-based herbicides are a cornerstone of this Nation's agricultural productivity and rural economy."

The herbicide has faced criticism from the Make America Healthy Again movement, and thousands of lawsuits have been filed across the United States claiming that exposure to glyphosate is linked to several types of cancer.

Last month, a group of lawmakers introduced the No Immunity for Glyphosate Act, which seeks to ensure that glyphosate manufacturers can be held liable under state and federal law if it is proven that the herbicide causes cancer, according to an April 29 statement from the office of Sen. Martin Heinrich (D-N.M.).

The bill also seeks to ban the use of federal funds to enforce Trump's glyphosate order.

"Exposure to glyphosate can cause cancer. The Supreme Court cannot and should not allow these verdicts to be overturned," Heinrich said.

"My constituents' health and safety comes first. And I will not stand by while President Trump gives immunity to those who put my constituents' health and safety at risk."

In February, Health Secretary Robert F. Kennedy Jr. said in a social media post that pesticides and herbicides were toxic.

However, if the use of these chemicals were prohibited, "crop yields would fall, food prices would surge, and America would experience a massive loss of farms," Kennedy said, while describing Trump's glyphosate order as aiming to protect the country's food supply.

Moreover, the Trump administration is looking at shifting from the current agricultural system without harming food supply, such as by transitioning to regenerative agriculture, Kennedy said.

Tyler Durden Thu, 06/04/2026 - 20:05

The Media Wants To Know Why Men Are Walking Away From Liberal Society?

Recent surveys paint what might seem like an apocalyptic picture:  In the US, around 45% of men ages 18-25 do not approach women anymore to engage in dating or relationships.  Over 42% of all men have no interest in seeking out women for relationships or casual dates.  Around 30% of men over 40 years old have never been married and are not necessarily seeking marriage.  

In light of ongoing concerns about population decline around the world, the first thing most people might say is that men need to "step up" and fulfill their role in order to save the human species from a "Children Of Men" movie scenario.  However, this suggests that it's men's fault and that checking out of the current system is a bad thing.  It's a narrow minded view.  

To be clear, the narrative of the "male loneliness epidemic" is a propaganda fantasy designed to shame men into returning to the liberal fold.  The truth is, men are not lonely, they are deliberately refusing to participate in order to make a point.  What we are witnessing is perhaps the most substantial mass boycott of liberal ideology in history as men go more conservative.  It's a boycott the establishment media does not want to acknowledge. 

In a recent expose by The Guardian, the outlet dares to ask the forbidden question - Is the "Me Too" movement the reason men are opting out of relationships and liberal society?  Sadly, they barely delve into the truth of the matter and instead regurgitate the old standby excuses:  Men are afraid of women because of lack of emotional intelligence.  Men are having trouble navigating the new world of fluid gender roles and women's independence.  Men are being lured into "toxic masculinity" by conservative movements, etc. 

Not surprisingly, the media rarely engages with straight men who study these changes from the male perspective.   If they did, they might get a better insight into what men today want want from life, from their careers or from relationships.  They talk often in dismay about the rush of young men into conservative ideals, but they never ask those men what it is about conservatism that attracts them. 

Why?  Because they don't want to hear the answer.  They don't care what men have to say.  So instead, they gather up a gaggle of female psychologists, jilted women and woke beta male activists and ask them "What is going on with men these days?" 

The idea of self improvement and striving for success has become the rallying cry for many men lost in the sea of the post "Me Too" world.  It makes perfect sense.  After a decade of feminist militancy and narratives painting men as walking time bombs on the verge of exploding into a deadly rage, men are no longer asking for validation from society or from women. 

Instead, they have set their own goals and measure their achievements according to their own peace of mind.  The power of the woke movement and feminists is in their ability to insert themselves into the role of judge and jury.  They do this by claiming constant victimhood, which they say earns them access to the halls of power and influence.  When the media talks about masculinity from an anthropological standpoint, they talk to the self-appointed woke experts (mostly women).    

When they do ask men, it's usually from a liberal standpoint.  When they ask conservative men, they ignore the answers and attack the honest responses.   Last week a New York Times podcast set out to explore what they call the American Masculinity Crisis; not to understand why men and masculinity have been so demonized, but to complain about men returning to masculinity despite the political left's best efforts to destroy it.  

"I think that we are in an abysmal state.  I think the reality is that we’ve always had patriarchy at the intersection of capitalism and white supremacy, and how those things feast on one another and lift one another. But I think right now, more times than not, the role models that these young boys and young men have are not only divisive and toxic but insidious and heinous, disgusting. Truly, I mean, the president of the United States is an alleged rapist. What does that mean? You know, the popular thing that boys are watching is largely M.M.A., right? So I think we’re in a horrible place..."

The idea of "toxic masculinity" is a woke feminist fallacy; a creation meant to shame men for their natural behaviors, their normal biological roles and the inherent ways they deal with the world.  The important thing to remember is that feminism has not been about equality for decades.  Women have had social equality and legal superiority over men in the west for some time now. 

Rather, feminism is about keeping men in line and under control to prevent any rebellion against the liberal epoch.  After all, women have no inherent power.  They gain power by convincing men to give their power away through government.  By convincing men to behave in the name of modern civility.  From the New York Times:

"I think, when we talk about masculinity, we have to talk about the patriarchy. And I think we see this as this system which harms everyone, including men..."

"I think if we can see ourselves as part of a system of patriarchy that harms all of us, and we are allies in this fight rather than men versus women, men oppressing women, then I think we can have a more productive conversation..."

In other words, masculinity and patriarchy is the left-wing version of "original sin"; a great crime against humanity that can only be defeated when men and women to come together...and submit to feminism.  Which means, men have to hand over all their power as the source of this great evil.  Men have to accept proper "management" to avoid falling into their darker ways.  If only these men would prostrate themselves before the benevolent woke gods and beg for forgiveness, then the world would be a much better place.

But why would they?  The idea that they get something in return is a proven lie.  They get no redemption, no peace.  Why not simply step on the neck of feminism, destroy it and take control?  It would be easy.  The only thing stopping this from happening is the hope most men have for a logical and reasonable discourse - The hope of honest reconciliation.  As long as feminism exists, however, this is never going to happen.

When the left-wing media opines on the lost generation of men, what they're really doing is pretending to have empathy while scrambling to circumvent a full blown male rebellion against the liberal order. 

The "Me Too" movement was presented as a reckoning over abuse against women in professional spaces, but it ultimately became a power grab in which liberal women leveraged fake outrage to elevate the idea of "guilty until proven innocent."  It weaponized mob justice against men as a way to steal jobs women didn't earn or deserve, and steal political power they had no moral capacity to handle. 

It's no mistake that the Me Too motto was "Believe all women."  That's a radioactive level of power.  

The real reckoning is going to be in the aftermath of Me Too.  There is a quiet but simmering movement of young men who are about to reassert their dominance in the society that cast them as monsters.  What progressives and feminists still don't realize is that their actions have set an unstoppable freight train in motion.  By alienating men in the pursuit of political gain, they have created a juggernaut with little empathy for self proclaimed "victims".

Tyler Durden Thu, 06/04/2026 - 19:40

DOJ Opens Investigation Into Suspected Race-Based Practices At Arizona State University

Authored by Kimberly Hayek via The Epoch Times,

The Department of Justice's Civil Rights Division has launched a Title VI investigation into diversity, equity, and inclusion (DEI) practices at Arizona State University (ASU), one of the country's largest public universities.

View of the campus of Arizona State University, a public research university located in Phoenix, Arizona. Shutterstock

Wednesday's announcement comes after recent viral videos that appear to show university personnel participating in or concealing the handling of distinguishing students by race, color, or national origin. Federal officials noted the videos raised the prospect that ASU may have violated civil rights protections while benefiting from considerable taxpayer support.

"No student should be denied access to opportunities or resources because of race, color, or national origin," Assistant Attorney General Harmeet K. Dhillon of the Justice Department's (DOJ's) Civil Rights Division said. "The United States is committed to keeping universities free of unlawful discrimination - especially when they try to hide illegal conduct to avoid oversight and compliance."

Federal law does not allow discrimination on the basis of race, color, or national origin at institutions that receive federal funding. ASU has 194,000 students enrolled across its campuses as of the 2024-2025 school year and receives hundreds of millions of dollars in federal grants and aid annually, public records from the U.S. Department of Education show.

The Civil Rights Division's investigation will determine whether ASU's DEI-related policies result in illegal discrimination in areas including admissions, recruitment, scholarships, tutoring, and educational support services. Officials underscored that the investigation is underway.

This action comes amid a broader national effort to examine university practices following changes to federal policy and public outcry over race-conscious programs. Many colleges and universities changed or repackaged DEI initiatives in the wake of executive actions and legal challenges.

The Department of Education indicates that Arizona's major universities, including ASU, have contended with state-level restrictions on certain diversity initiatives while ensuring federal compliance. Universities nationwide have quietly adjusted DEI programs as a result of potential funding cuts and investigations.

The viral videos leading to the DOJ announcement recorded interactions in which university staff deliberated continuing parts of DEI programming under alternative names such as "inclusive excellence."

Accuracy in Media and other watchdogs have noted similar efforts at public universities.

Title VI of the Civil Rights Act of 1964 mandates equal opportunity without regard to protected characteristics. Past DOJ inquiries into higher education have looked at legacy admissions, athletic recruiting, and targeted scholarships. This investigation joins a growing list of reviews examining programs thought to circumvent race-neutral standards.

Places of higher learning, from Ivy League schools to state flagships, have faced pressure to get rid of race-based preferences after Supreme Court rulings and administrative changes.

ASU officials have not formally responded to the allegations. Public university records detail numerous outreach programs targeting underrepresented groups.

Federal databases show that ASU receives considerable taxpayer funds, including research grants, Pell Grants, and other aid that require nondiscriminatory practices.

The federal government has also investigated medical school admissions and PhD recruitment initiatives at other public universities that allegedly applied different standards based on race.

Tyler Durden Thu, 06/04/2026 - 19:15

Anthropic's Marketing FUD Playbook Returns With Call To Pause AI Frontier Development

Anthropic has elevated fear-based marketing to an art form. The company routinely warns the public, lawmakers, and corporate America about looming AI doom scenarios - then conveniently positions itself, its products, safety frameworks, and policy prescriptions as humanity’s best defense.

This strategy is hardly new. Fear, Uncertainty, and Doubt (FUD) works because we're wired to be risk-averse. Nothing grabs attention faster than a well-crafted existential threat.

In its latest iteration, Anthropic’s message is that AI models are advancing so rapidly they risk outrunning society’s ability to control them. The solution? The very guardrails, verification systems, and safety architecture that Anthropic is helpfully developing.

“We believe it would be good for the world to have the option to slow or temporarily pause frontier AI development to enable societal structures and alignment research to keep up with the advance of the technology,” the company stated in a new post released Thursday.

The Anthropic Institute will conduct research—in collaboration with many others—and take actions to help build the systems that a credible slowdown or pause would require. These systems would enable frontier AI developers to verify that others globally have actually stopped or slowed, and that a bad actor could not use the auspices of a coordinated slowdown to jump ahead in secret. If such systems existed, we expect that we would slow down or temporarily pause, if other developers at or near the frontier also did so in a verifiable manner.

A meaningful slowdown or pause would require multiple well-resourced labs at or near the frontier, in multiple countries, agreeing to stop under the same conditions. It would also require that each can verify that the others have actually stopped. Due to the unique characteristics of AI systems, the detectability (a lower standard than verifiability) element of this arms control problem is much more challenging than with other technologies. Training runs are far easier to conceal than missile silos, their inputs are general-purpose, and the incentive to defect quietly is enormous. A credible pause also has to specify what triggers it, what lifts it, and who adjudicates.

None of this is necessarily impossible in principle—the world has built verification regimes for other complex technologies (e.g., the Intermediate-Range Nuclear Forces Treaty)—but those regimes took decades to build both the infrastructure and the trust. We don't have that long. A unilateral pause by one lab is achievable immediately, but accomplishes much less: it would change who the front-runner is, but it would not create the wider deliberative process that is currently missing.

In the coming months, we will organize conversations where policymakers, researchers, civil society, and other AI companies can help answer some of the questions this piece raises, especially around full recursive self-improvement and how to create better options for coordination and deliberation. We'll publish what comes out of it. The window to investigate these questions together is here, and people outside AI companies should be involved in this deliberation.

This follows a familiar playbook. With the earlier release of Mythos, Anthropic framed the model as so powerful it could autonomously discover thousands of high-severity vulnerabilities - including decades-old bugs missed by prior testing - chain exploits, and execute complex multi-stage attacks. They called it a “moment of danger” for cybersecurity with potentially severe consequences for economies and national security.

Access was initially restricted to a small group of trusted parties. As doomer headlines blanketed mainstream media, the fear cycle ran its course. Then, predictably, access was gradually expanded.

Former AI czar David Sacks captured Anthropic’s approach perfectly on a recent episode of the All-In Podcast:

All of this FUD marketing arrives as Anthropic races OpenAI to reach the public markets first, following SpaceX’s anticipated IPO next week.

Tyler Durden Thu, 06/04/2026 - 18:50

Weingarten Blames Screens, Not Herself, For Falling Test Scores

Authored by Aaron Withe and Tina Snider via RealClearPolitics,

American Federation of Teachers President Randi Weingarten is sounding the alarm about the decade-long decline in student test scores, pointing to screens and devices as a culprit. She's calling it a "call to action."

She left out the part about how she helped cause the problem in the first place.

For two years during the COVID pandemic, Weingarten and the AFT fought aggressively to keep schools closed. In July 2020, as the Trump administration urged schools to reopen, Weingarten called the push "reckless," "callous," and "cruel," and threatened the possibility of safety strikes.

Internal emails later released by a U.S. House of Representatives subcommittee showed the AFT had access to draft guidance from the federal Centers for Disease Control before it was made public, as well as proposed specific language that could trigger renewed closures.

Research published afterward confirmed what was already evident: Districts with stronger teachers unions were significantly less likely to reopen for in-person instruction, even after controlling for local COVID conditions.

So kids stayed home. They got on computer screens and stayed there for two years, cut off from teachers, friends, and anything resembling a normal childhood.

The consequences were not abstract. The National Assessment of Educational Progress recorded the largest declines in math and reading scores in its history. Reading results dropped to levels not seen since the early 1990s.

Researchers documented surging rates of anxiety, depression, and social developmental delays among children who spent critical years in isolation. The damage, experts say, will take a generation to undo.

In her book published last fall, Weingarten wrote that she "...led the AFT in developing a concrete plan to reopen schools as quickly and safely as possible." That's a remarkable claim given the documented record of what her union actually did.

Weingarten told Congress in 2023 there were "... things we really didn't get right," including the impact of prolonged closures. That acknowledgment was notable, but what followed it wasn't accountability. It was a pivot.

The same union that lobbied to keep students off school grounds is now positioning itself as a champion of children's well-being, pointing an accusing finger at Silicon Valley while the learning-loss data keeps compounding.

The financial record makes that positioning even harder to stomach. A recent analysis of National Education Association and AFT federal disclosures by the Network Contagion Research Institute and the Gevura Fund - of which Tina Snider is president - found America's two largest teachers unions spend roughly $4 on political activities for every dollar spent on direct member representation.

The NEA alone reported more than $51.7 million in political spending in its most recent filing, plus another $123 million in contributions and grants, compared to less than $46 million on the collective bargaining its members thought they were paying for.

Meanwhile, teacher pay in real terms has barely moved in 50 years. The gap between what teachers earn and what comparably educated professionals earn hit a record 26.9% in 2024.

Small wonder NEA membership has fallen by nearly 400,000 since its peak, even as dues have increased every single year.

The union is shrinking, teachers are falling further behind their peers economically, and the students those teachers serve are still recovering from two years of lost learning.

That's the actual record, and it's a shameful one.

The test scores didn't fall because of TikTok. They fell because millions of kids spent two years at home on screens, isolated from the teachers and classrooms Weingarten claims to champion.

She knows who fought to keep them there. So do the parents still watching their kids catch up.

Aaron Withe is the Chief Executive Officer of the Freedom Foundation.

Tina Snider is president of Gevura Fund.

Tyler Durden Thu, 06/04/2026 - 18:25

Beer Demand Goes Flat As Even Alcoholics Pull Back With Gas Above $4

Beer sales across the U.S. over Memorial Day weekend were troublingly soft, according to a new Goldman report, which attributed the weakness primarily to a "challenging macro backdrop" and unusually cold weather across parts of the Lower 48 states.

The Gulf-related fuel price shock has kept the national average for 87-octane gasoline above the politically sensitive $4-per-gallon threshold for more than 66 days, or roughly two months. Consumers are already pulling back on purchases at gas stations and convenience stores, with the latest evidence showing a sharp slowdown in energy drink sales growth amid rising fuel prices.

The next victim of the fuel price shock, amid a dismal consumer backdrop of sliding personal savings and a fading tax-refund sugar high, appears to be beer - generally considered a consumer staple product. The latest high-frequency data cited by Bonnie Herzog shows beer trends over the Memorial Day weekend were troubling.

"As expected, the challenging macro environment appears to be the largest drag on beer trends - as consumers have less disposable income and are prioritizing more non-discretionary purchases - while unfavorable weather in several parts of the country further pressured consumption patterns with Memorial Day weekend being the wettest and one of the coldest holiday weekends in the past 5 years," Herzog wrote in the note.

Herzog's "Bev Bytes" Beer Distributor Survey covers feedback from roughly 45 beer distributors, representing about 145,000 retail outlets or 23% of U.S. alcohol-selling locations, providing clients with a solid real-time snapshot of beer demand.

That snapshot showed demand remained uneven, with Constellation Brands standing out as a winner, while Heineken, Boston Beer, and Molson Coors lagged behind.

About half of the respondents in the survey said beer sales slowed in April and May compared with the first quarter, citing a softening in consumer spending, unfavorable weather, and category switching to ready-to-drink alcoholic beverages sold pre-mixed in cans or bottles, and/or THC products.

Most notable takeaways from the survey:

1. Nearly half of all distributors indicated that beer category sales decelerated in April/May vs Q1 - citing a pressured consumer backdrop, unfavorable weather, some category switching (e.g., RTDs & THC), a secular shift away from alcohol, and weak marketing;

2. Consumers are facing increased pressure as a result of the challenging macro/operating backdrop - with notable pressure on the Hispanic consumer;

3. Recent volume trends for STZ in May have been encouraging following a relatively weaker Cinco De Mayo;

4. Recent scanner trends appear to be soft for Modelo Especial - though distributors still see further upside and expect the brand to grow this year;

5. Miller Lite & Coors Light remain pressured with further deceleration in April/May vs Q1;

6. Distributors are cautious on Corona but are mostly positive on Sunbrew;

7. Distributors are split if TAP will be able to successfully grow Monaco Cocktails;

8. Most distributors are upbeat about Sun Cruiser - with most expecting trends to accelerate in 2H vs 1H this year, SAM's brand portfolio elsewhere including Twisted & Truly remain pressured; and

9. SAM's recent innovation LYTT is seeing mixed traction - most view this as an interesting concept, but unsure how it would be received by consumers and durability of growth in context of its novelty packaging.

Herzog pointed out that "tempered beer category growth trends over the Memorial Day holiday weekend and lackluster category growth outlook largely come as no surprise, especially considering the challenging macro environment - we take a selective approach to identifying relative winners within the space that we believe are best positioned to outperform."

Beer Stock Coverage:

• STZ - Our 12-month price target of $180 is based on an equal-weighted EV/EBITDA of 10.8x (vs 10.9x prior) and P/E of 13.4x (unchanged), both of which are based on our Q5-Q8 estimates. We slightly lower P/E multiple to reflect macroeconomic and geopolitical pressures affecting the consumer. Risks to our estimates and price target include: Modelo/Corona Extra lose traction with consumers; Corona Light does not stabilize/return to growth; greater than expected spike in input cost inflation or lower productivity savings; STZ fails to build its new brewery in Southeastern Mexico.

• TAP - Our 12-month price target of $50 is based on an EV/EBITDA multiple of 6.1x (weighted 42.5%), P/E of 8.0x (wtd 42.5%), & M&A value based on EV/EBITDA of 9.4x (wtd 15%) all based on our updated Q5-Q8 estimates. Risks include: TAP cedes recent market share gains to Bud Light as that brand recovers; Acceleration plan fails to deliver mgmt's intended transformation across the broader beer/FMB portfolio driving declines in TAP's beer volume and market share (across both core economy SKUs and Above Premium beer/FMB) or consumer preferences shift away from mainstream/budget-priced beer and TAP's Beyond Beer strategy fails to resonate with consumers.

• SAM - Our 12-month price target is $192 and is based on an equal-weighted EV/EBITDA multiple of 8.0x and P/E multiple of 16.6x, both based on our Q5-Q8 estimates. Risks include: hard seltzer category growth accelerates and Truly gains momentum; Truly gains significant share and household penetration; SAM successfully stabilizes the Sam Adams brand; and supply chain capacity constraints for hard seltzer ease.

Professional subscribers can read the full Beer note here at our new Marketdesk.ai portal.

Tyler Durden Thu, 06/04/2026 - 18:00

Rubio Says 'We Remember Their Lives And Honor Their Legacy' On Tiananmen Massacre's 37th Anniversary

Authored by Melanie Sun via The Epoch Times,

U.S. Secretary of State Marco Rubio issued a statement to mark the 37th anniversary of the Chinese Communist Party’s Tiananmen Square Massacre.

“On June 4, the world marks 37 years since the Chinese Communist Party ordered its troops to attack thousands of peaceful demonstrators in and around Tiananmen Square,” Rubio said in a statement late June 3 in the United States, which is hours behind China.

“Chinese students, workers, and other civilians who lost their lives had gathered to exercise their natural rights and demand democratic reforms and accountability for corruption. We remember their lives and honor their legacy,” he said.

“No amount of censorship can erase the past. Those who sacrificed to uphold their unalienable rights of free expression and peaceful assembly will be vindicated someday.”

Mention of the 1989 Tiananmen Square Massacre is heavily censored in mainland China, with terms such as “June 4,” “6/4,” “64,” “六四” (in Chinese), and related phrases routinely blocked across all information platforms by China’s internet police. Closer to the sensitive date, even terms like “that year” are censored in an effort to suppress all mention of the Chinese lives lost that day and what they stood for.

Despite being unsuccessful in China, the protests sent shockwaves throughout the world and helped strengthen the resolve of people in other communist states, such as East Germany and Romania, also seeking liberty.

At the same time, the Chinese Communist Party (CCP) dispatched Vice Premier Yao Yilin to East Germany in October 1989 to share its methods for suppressing protests.

This year may be particularly sensitive for the CCP, following the November 2025 leak of classified video footage of the 1990 military trial of Maj. Gen. Xu Qinxian, who refused to deploy troops against the protesters in 1989.

Xu’s testimony revealed operational details of the military response in 1989—information that the CCP considered to be state secrets.

The video footage was quickly scrubbed from the Chinese internet after it was leaked, but it generated widespread attention among Chinese-speaking users outside of mainland China.

Every year, the CCP harasses or rounds up dissidents, activists, journalists, lawyers, and Tiananmen-related figures for preemptive detention or house arrest ahead of the June 4 date as part of its “stability maintenance” operations.

But in a first such action in more than three decades, the Tiananmen Mothers group, representing the families of victims of the massacre, was blocked from visiting the graves of their loved ones at Beijing’s Wan'an Cemetery by police on June 4, according to Radio Free Asia.

Ahead of the date, arrests were also underway. In May, pro-democracy activist Mao Qingxiang in Hangzhou was detained by Chinese police after he shared a video of recently released dissident Xu Guang, whose post-prison remarks included a call to “never forget June 4.”

Chinese in Hong Kong have also been blocked from marking the anniversary, with the annual candlelight vigil in Victoria Park that once drew tens of thousands of people in remembrance of the human rights travesty banned since 2020 under the Beijing-imposed national security law.

(Top) Hong Kong police officers occupy Victoria Park in the afternoon of June 4, 2021, to prevent people from entering; (bottom) The June 4 candlelight vigil in Victoria Park in 2017. The Epoch Times

Known pro-democracy voices in the city have also been monitored or harassed in an attempt to deter any bigger incidents. But Chinese around the world in cities such as Taipei, Sydney, London, and New York will gather for vigils to commemorate the June 4 anniversary.

In a statement the morning of June 4, Taiwanese President Lai Ching-te called on China to acknowledge the deadly clampdown on Chinese protesters in Tiananmen Square 37 years ago and “face the wounds of history” for a better future.

“What was shot and crushed that year was not only the life and youth of those who participated in the democracy movement, but also the desire and practice of the pursuit of freedom and democracy by an entire generation of China,” he said in a post on social media.

“I sincerely hope that China will face up to the June 4 incident 37 years ago, recognize the truth, comfort the pain, and open reconciliation and dialogue.”

Lai said that a “sound government” should support the next generation to “live a better life than themselves, instead of killing their dreams and erasing their opinions with violence, surveillance, etc.”

“Taiwan will stand with all those who pursue freedom and democracy until the truth is seen, the pain is comforted, until no one else loses their lives in the pursuit of freedom. Because a country that respects its people, protects freedom, and practices democracy is a country that is truly worthy of respect,” he said.

U.S. President Donald Trump also made a statement condemning communism as June 4 arrived in China.

“Remember, breathtaking ‘Popularity’ first, and then, guaranteed DEATH AND DESTRUCTION!” he wrote on Truth Social.

“Has anyone ever seen a Happy Communist?” he added.

Tyler Durden Thu, 06/04/2026 - 17:40

Korean Officials Are "Paying Close Attention" As Foreign Outflows Trigger Bond/Won Collapse

Unless you have been living under a rock, you'll know that South Korea's stock market has been rocketing higher on the back of the AI/Semi speculation as SK Hynix and Samsung have dominated (accounting for over 40% of the KOSPI market cap)...

But, as the following chart from Goldman Sachs shows, this surge in Korean stocks has been driven by domestic Retail investors as Foreign investors have fled that market en masse...

These outflows have sparked a collapse in the Korean Won (exacerbated by pressure some Asian currencies face as the Iran war drags on), now at its weakest versus the USDollar since 2009...

...and pushed yields for South Korean bonds to their highest in almost 3 years...

With all that in mind, Bloomberg reported earlier in the week that South Korean officials have intensified monitoring of the government bond market through daily phone calls and a private messaging group with market participants, as authorities step up efforts to contain rising yields.

Since May 18, a group of deputy directors in the finance ministry’s treasury-bond division have been calling bond dealers and asset managers before the start of trading to gauge market sentiment and investor positioning, Hwang Soon Kwan, deputy finance minister for treasury, said in an interview. In some cases, the discussions are held in person, he said.

“We are paying close attention to managing the bond market and are determined to respond firmly to any excessive moves,” Hwang said Friday in Seoul.

The ministry also set up a private KakaoTalk chat room on May 21 that now includes about 17 participants, according to Hwang.

Members include Finance Minister Koo Yun-cheol, senior ministry officials, researchers, primary dealers and fund managers, who share research reports and market views on a daily basis.

The moves are not intended to press yields down, but to signal authorities are closely monitoring the market, he added.

The government last week reduced planned bond issuance for June by about 21% from the previous month, adding to efforts to ease upward pressure on yields.

Additionally, just days later, Bloomberg reports that Finance Minister Koo Yun Cheol said authorities were closely monitoring FX market developments “with a high degree of vigilance to prevent anxiety from spreading,” and vowed to “take prompt, necessary measures in case of excessive market moves.”

Asian policymakers are coming up against the limit of their currency defense as elevated oil prices hurt the region’s importers.

Authorities in Indonesia and the Philippines also stepped up measures to defend currencies. 

“The authorities are doing what they can, but given that the won is being driven by external factors, it’s likely difficult to control,” said So Jaeyong, chief economist at Shinhan Bank in Seoul.

Tyler Durden Thu, 06/04/2026 - 17:20

63 Arrested, Crypto Millions Frozen As FBI, DOJ Team Up With Meta, Coinbase And Starlink To Bust Scammers

Authored by Naveen Athrappully via The Epoch Times,

More than 1 million scam-related online accounts were taken down, and millions of dollars worth of cryptocurrency were frozen, as part of a crackdown on Southeast Asian scam networks.

Scam center workers, many of whom were trafficked and forced to work for criminals, are guarded by Karen Border Guard troops in Myawaddy, Burma, on Feb. 26, 2025. Stringer/Reuters

The crackdown operations, conducted by U.S. and international agencies led by the Department of Justice (DOJ), began on May 18, when the DOJ's Scam Center Strike Force brought together the FBI, Royal Thai Police, and law enforcement agencies from Canada, Australia, the United Kingdom, and New Zealand to identify and disrupt criminal scam networks.

Meta, Microsoft, Starlink, and Coinbase were part of joint operations held in Washington and Bangkok, Meta said in a June 3 statement.

"More than a million online assets were disrupted as a result of the operation - including 1.4 million accounts, pages, and groups across Facebook and Instagram, 20,000 Microsoft accounts, and thousands of Starlink kits - and the Royal Thai Police has arrested 63 individuals involved in scam operations," Meta said.

Cryptocurrency exchange Coinbase "froze more than $3 million in cryptocurrency assets tied to criminal networks." In addition, Starlink "terminated connectivity for thousands of Starlink kits that were attributed to unlawful use," it said.

Criminal syndicates behind the fraud have exploited millions of people globally via romance scams and investment fraud, and through utilizing forced labor. This makes coordinated disruption critical to protecting people, Meta said.

FBI Director Kash Patel thanked Meta for the company's assistance in a June 3 post on X, and said the operation was "just the beginning!"

The DOJ said that the joint initiative interrupted malicious network connections hosted by scammers. Moreover, servers and hosting infrastructure associated with the scam networks in Southeast Asia were decommissioned.

Many scam centers are run from Laos, Cambodia, and Burma along the border with Thailand, across several industrial-scale compounds.

As for forced labor, criminal networks lure unsuspecting people to Thailand with promises of high-paying jobs, then seize their identification and coerce them to work at such sites. The victims run scams against targets under the threat of violence.

In its recent statement, Meta said that intelligence-sharing among entities has led to the identification of several potential new scam center locations and networks.

"Blockchain technology is one of the most powerful tools we have in the fight against financial crime," Leah Bressack, vice president at Coinbase, said.

"Unlike traditional financial systems, the transparent and immutable nature of transaction data means bad actors can't hide - every transaction leaves a trail. That transparency is exactly what allowed us to work with law enforcement to trace, freeze, and disrupt these criminal networks."

Crackdown On Fraud

The crackdown follows President Donald Trump's signing of an executive order on March 6 to counter scam operations - Combating Cybercrime, Fraud, and Predatory Schemes Against American Citizens.

"Cybercrime, fraud, and predatory schemes are draining American families of their life savings, stealing the benefits of years of work, and destroying the lives of our youth," Trump said in the order.

"It is the policy of the United States to protect Americans from, and harden our financial and digital systems against, these threats. The United States shall counter attacks on Americans with a commensurate response that includes law enforcement, diplomacy, and potential offensive actions."

According to the recent DOJ statement, the Scam Center Strike Force is a "critical node" in executing Trump's order.

Online scams pose a major financial threat to Americans. An April 2025 report from the FBI's Internet Crime Complaint Center revealed that the center received 859,532 complaints of suspected internet crimes in 2024.

The total financial losses from these crimes amounted to $16 billion, a 33 percent increase from the previous year.

Older adults were significantly affected, with 147,127 complaints filed by people aged 60 or older, totaling $4.88 billion in losses.

Tyler Durden Thu, 06/04/2026 - 17:00

Communist Hasan Piker Blames "Homo-Fascism" After Scott Wiener Crushes His Preferred SF Candidate

Far-left Turkish-American millionaire and Twitch streamer Hasan Piker lashed out during a Tuesday livestream after his friend, San Francisco congressional candidate Saikat Chakrabarti, was badly defeated in the primary race to succeed Nancy Pelosi.

Chakrabarti, a former aide to the unhinged socialist NY Rep. Alexandria Ocasio-Cortez, spent $10 million of his own money but was polling around 15% with about half the vote counted. 

Piker strangely blamed Chakrabarti's poor performance on San Francisco's urban layout and car dependency, despite the city's reputation for public transit.

He then pivoted into attacking the city's affluent liberal voter base: 

You know what it is? I know what it is. F**king car-reliant infrastructure. The more cars you have, the more chuddy the f**king city is.

That's it. No public transit. No f**king people living close to one another. It's just f**king rich liberals who just want homo-fascism in the country, that's it. They want gay fascism. They want gay techno-fascism.

X user Dipper captured Piker's livestream meltdown in a post titled "He's so fucking mad, commies down horrendously."

He's so fucking mad, commies down horrendously. https://t.co/VAySH1m6kV pic.twitter.com/J0SM3dXEO9

— Dipper (@dipperid) June 3, 2026

Late Wednesday, Chakrabarti blamed his loss on outside money from AI, crypto, and AIPAC-linked interests ... 

The campaign has ended, but the mission remains. We must wrest control of our country away from the corporations and back into the hands of people. And the only force capable of doing that is a movement of people unlike any we have seen in generations. Thank you to everyone who… pic.twitter.com/P1yDPz4Aie

— Saikat Chakrabarti for Congress (@saikatc) June 4, 2026

As for Piker, he's made the news in recent weeks after committing an operational-security mistake by publicly identifying American Marxist tech financier Neville Roy Singham, who has reportedly been living in China and has been linked by The New York Times to CCP-aligned propaganda networks, as a major financier of pro-Marxist revolutionary NGOs operating inside the U.S.

The question political observers are asking is: What has the Democratic Party become? Really it has been radicalized, championing anti-American values, promoting socialism and Marxism, aligning with revolutionary far-left NGOs funding chaos in the streets, and some of that may point to foreign influence operations run through the Singham network and other dark-money-funded NGOs.

"This realignment of Democratic Party power, away from the old-school, Ivy League establishment, into the hands of the socialists, the radical Muslims and the guys with Nazi tats, will have profound implications for the 2028 presidential race," Owen Gregorian noted on X.

The age of the Democratic Party blocking fringe outsiders is officially over | David Marcus, Fox News

There were two events on Tuesday that offered more proof of a national Democratic Party establishment that has lost control: One was a meeting, one an election, and both are… pic.twitter.com/ENMYpVJmIe

— Owen Gregorian (@OwenGregorian) June 4, 2026

Democrats have become the party of incoherent lunatics.

Tyler Durden Thu, 06/04/2026 - 16:40

Obamacare Fraud Estimated To Cost $25 Billion This Year: Report

Authored by Lawrence Wilson via The Epoch Times,

Taxpayers will foot the bill for up to $25 billion in improper Obamacare payments due to organized fraud and improper enrollments in 2026, according to a June 3 report from Paragon Health Institute.

A pedestrian passes an insurance agency that offers Affordable Care Act plans in Miami, on Jan. 28, 2021. Joe Raedle/Getty Images

Some 6.2 million enrollments in the healthcare exchanges during the most recent open-enrollment period were improper, the report said, accounting for 27 percent of all enrollments.

The conservative think tank has studied fraud in the Obamacare program since 2024.

The problem of improper enrollments persists despite recent attempts to curtail it, and appears to involve organized efforts by unscrupulous insurance brokers, the report concluded.

Meanwhile, some industry groups have criticized the findings.

Incentives For Fraud

Obamacare's premium subsidies, which cover 100 percent of the health coverage policy for many beneficiaries, and referral bonuses offer an incentive for both enrollees and brokers to abuse the system, the report concluded.

Researchers identified improper enrollments by comparing Obamacare data to Census Bureau population estimates. The improper enrollments were calculated by a state-by-state comparison of enrollments in the lowest income category to the number of people having that income level in the state.

The lowest income category is 100 percent to 150 percent of the federal poverty level, or about $16,000 to $24,000 per year for an individual or about $27,000 to $41,000 for a family of three.

Enrollees with incomes at that level receive the highest subsidies. During the 2026 open enrollment period, 29 percent of enrollees chose a plan with a $0 premium.

That gives enrollees and the agents who sign people up for Obamacare an incentive to misstate their income, the report concluded.

The American Hospital Association has said Paragon's research results are not valid due to flawed methodology. "The Census uses different income and household size definitions than the Marketplace so there is no possibility of the data matching," the group said in an August 2025 statement. The association also said the Census relies on reported income but Obamacare asks for projected income.

The total value of Obamacare subsidies to be paid in 2026 is $88 billion, according to the Congressional Budget Office.

Agents who enroll individuals or families in Obamacare earn a commission averaging around $20 per enrollee per month for as long as the policy is active.

Obamacare received more than 23 million enrollments during the 2026 open enrollment period.

Subsidies and commissions are paid on "effectuated" enrollments, meaning enrollees who selected a plan and paid the initial premium.

The number of effectuated enrollments for 2026 has not yet been released, though about 96 percent of signups became effectuated enrollments in 2025.

Weak Controls

Congress allowed Obamacare's enhanced subsidies to expire in 2025, which reduced the number of people eligible for a 100 percent subsidy.

Yet improper enrollments persist in part because of automatic re-enrollment, said Brian Blase, Paragon's founder and president.

"Automatic re-enrollment remains pervasive. Nearly 40 percent of 2026 exchange enrollees were automatically re-enrolled," Blase told The Epoch Times by email.

That allows previous improper enrollments to carry over from year to year.

Congress and the Trump administration have taken actions to strengthen checks on improper enrollment, but most are not yet in effect.

Enacted law will require annual income eligibility verification. That takes effect in 2028.

The administration implemented stricter verification rules in May 2026, but they did not impact the 2026 open enrollment, which ended Jan. 15.

Legal Action Center, a human rights advocacy group, has opposed mandatory re-enrollment and income verification because it places an administrative burden on those dealing with substance abuse, mental health conditions, or criminal convictions.

"There is an ongoing need for an automatic re-enrollment mechanism, given that some people do not actively return to the Marketplace to make plan choices during open enrollment," the group wrote to Secretary Robert F. Kennedy Jr. in April 2025. Rather than requiring action on the part of enrollees, Legal Action Center urged the federal government to verify continued eligibility using existing data such as the Social Security Administration and state unemployment databases.

Bad Actors

Unscrupulous brokers appear to have contributed to improper enrollments by steering consumers toward plans that pay larger commissions, Blase said. And the report suggests that some agents have created fictitious enrollments.

"Some brokers and agents continue steering low-income enrollees into $0-premium plans," Blase said, even though it may not provide them the best value.

Bronze plans have no premium for an enrollee at 100 percent of the federal poverty level. But the out-of-pocket costs could total nearly $7,500 per year, according to Paragon.

The same individual could qualify for a silver plan for which the enrollee premium plus out-of-pocket costs totaled $415.

"One plausible explanation is that brokers moved enrollees into $0-premium bronze or gold plans because some consumers will only enroll if coverage is free," Blase said. "And phantom enrollees cannot pay premiums."

Paragon defines phantom enrollments as those that are fictitious, or unaware they are enrolled, or are enrolled in other coverage.

In 2024, 35 percent of Obamacare enrollments reported no medical claims. "The percentage of zero-claim enrollees in the exchanges is dramatically higher than observed in the broader private market and strongly suggests a substantial number of phantom enrollees."

Also, about half of all enrollees reported unknown race or ethnicity in 2026, a trend that began in 2024, according to the report. Researchers say this could indicate that the agents had little contact with the enrollees.

"These findings suggest that a substantial portion of recent ACA exchange enrollment growth may not reflect legitimate increases in insured individuals," the report stated.

America's Health Insurance Plans, an association of health insurers, has been critical of Paragon's previous research on phantom enrollees.

"A 'no-claims' year is evidence that a consumer stayed healthy or only had a few months of coverage - not that taxpayer money was misdirected or that their policy was illegitimate," the group said in an August 2025 statement.

Tyler Durden Thu, 06/04/2026 - 16:20

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.