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Healthy Diets Are Getting Pricier, Yet More Affordable

Healthy Diets Are Getting Pricier, Yet More Affordable

A healthy diet is often discussed as a top public health issue, but affordability remains one of its biggest barriers.

Over the past decade, food prices have climbed due to inflation, supply chain disruptions, and climate-related shocks. At the same time, incomes and food access have improved in many regions.

This graphic, via Visual Capitalist's Niccolo Conte, highlights how these competing forces have shaped the global cost of eating well—and who is still being left behind.

The data for this visualization comes from the United Nations Food and Agriculture Organization. It tracks the average daily cost of a healthy diet worldwide.

Healthy Diet Costs Are Rising

A healthy diet is defined as providing 2,330 kilocalories per day, with nutritionally adequate proportions across six food groups. These include starchy staples, vegetables, fruits, animal-source foods, legumes, nuts and seeds, and oils and fats.

In 2017, the average global cost of a healthy diet was $3.14 per person per day. By 2024, that figure had climbed to $4.46. The sharpest increases occurred after 2020, coinciding with pandemic-related disruptions and global food price inflation.

Affordability Is Improving Despite Higher Prices

While costs have risen, affordability has steadily improved. In 2017, 38.4% of the global population—about 2.93 billion people—could not afford a healthy diet. By 2024, that share had fallen to 31.9%, representing roughly 2.6 billion people.

Despite global progress, affordability challenges remain concentrated in low-income and conflict-affected regions. Even small increases in food prices can have outsized effects where households already spend a large share of income on food.

If you enjoyed today’s post, check out How Much Meat do We Eat? on Voronoi, the new app from Visual Capitalist.

Tyler Durden Sat, 01/10/2026 - 22:45

Escobar: How Trump's Oily Dreams May Collapse In A Venezuelan Dark Pit

Escobar: How Trump's Oily Dreams May Collapse In A Venezuelan Dark Pit

Authored by Pepe Escobar,

So the Big Oil Picture in Venezuela is way more complex than the Trump 2.0 gang suspects...

Let’s start with neo-Caligula’s new edicts on the imperial satrapy he says he now owns; not exactly edicts but outright threats directed to interim President Delcy Rodriguez:

  1. Crack down on “drug trafficking flows”. Well, this should actually be directed to Colombian and Mexican smugglers in cahoots with big American buyers.

  2. Expel Iranian, Cuban, and other “operatives hostile to Washington” – before Caracas is allowed to increase oil production. Not happening.

  3. Halt oil sales to “US adversaries”. Not happening.

Hence it becomes a near certainty that neo-Caligula may bomb Venezuela again.

Neo-Caligula, in a separate motormouth offensive, also clarified that he wants to somewhat overhaul the oil business in Venezuela via subsidies. It “could take less than 18 months”; then it morphed to “we can do it in less time than that, but it’ll be a lot of money”; and finally morphed to “a tremendous amount of money will have to be spent and the oil companies will spend it.”

No, they won’t, as several proverbial “industry insiders” have advanced. US energy majors balk at the sight of investing fortunes in a nation that may be engulfed by total chaos if neo-Caligula forces a traitorous government over 28 million people.

According to Rystad Energy Analysis, it would take no less than 16 years and at least $183 billion for Venezuela to produce a mere 3 million barrels of oil a day.

Neo-Caligula’s ultimate dream is to reduce global oil prices to a maximum $50 a barrel. For this purpose, the Trump 2.0 imperial gig will, in thesis, totally control PDVSA, including acquisition and sale of virtually all of its oil production.

US Energy Secretary Chris Wright, at a Goldman Sachs energy conference, let the oily cat out of the bag:

“We are going to market the crude coming out of Venezuela, first this backed up stored oil [up to 50 million barrels], and then infinitely, going forward, we will sell the production that comes out of Venezuela into the marketplace.”

So essentially the neo-Caligula gig will capture, actually steal the sale of crude from PDVSA, with the money theoretically deposited in US-controlled offshore accounts to “benefit the Venezuelan people”.

There’s no way Delcy Rodriguez’s interim government will accept what amounts to de facto theft. Even as Homeland Security Advisor Stephen Miller is bragging that the US is using “military threat” to maintain control of Venezuela. If you are really in control, you don’t need to issue threats.

So what about China?

China was importing roughly 746,000 barrels of oil a day from Venezuela. That’s not much. Beijing is already working on replacing it with imports from Iran. China essentially is not dependent on Venezuelan oil. Apart from Iran, it may also source from Russia and Saudi Arabia.

Beijing clearly sees that the imperial overdrive in the Western Hemisphere and in West Asia is not just about oil, but also to force China to buy energy with petrodollars. Nonsense: with Russia, the Persian Gulf and beyond, the name of the game is already petroyuan.

China is 80% energy independent. Venezuela de facto was accounting for a mere 2% of the 20% China imports – and this according to the US government’s own numbers.

China’s energy relationship with Venezuela goes way beyond cheap American formulas. Here is essentially outlined how “Chinese oil agreements with Venezuela are de facto binding financial contracts, with repayment mechanisms, collateral structures, penalty clauses, and derivative linkages embedded deep into global finance (…) They are connected – directly and indirectly – to Western financial institutions, commodity traders, insurers, and clearing systems, including entities tied to Wall Street. If these contracts are broken, the consequence is not China ‘taking a loss’. It is a cascade event: defaults triggering counterparty exposure, derivatives being repriced, legal disputes crossing jurisdictions, and confidence shock spreading outward. At a certain point, this ceases to be a Venezuelan problem and becomes a systemic global one.”

Moreover, “over the past twenty years, China has become the operational core of Venezuela’s oil industry. Not merely as a buyer, but as a builder. China provided refinery technology, heavy crude upgrading systems, infrastructure design, control software, spare parts logistics (…) Remove the Chinese engineers. Remove the technicians who understand the control logic. Remove the maintenance supply chains. Remove the software support. What remains is not a functioning oil industry waiting to be ‘liberated’, but an inert shell.”

Conclusion: “Converting Venezuela’s Chinese-built oil sector into an American one would take three to five years, minimum.”

Financial analyst Lucas Ekwame hits the major points. Venezuela produces superheavy oil as thick as tar. It doesn’t just flow; it needs to be melted to reach the surface, and after extraction, it hardens again, requiring diluent: no less than 0.3 barrels of diluent need to be imported for each exported barrel.

Compound it with Venezuela’s energy infrastructure shaped by China and at the same time suffering years of American sanctions, even worse than over Iraq in the early 2000s, and neo-Caligula’s faulty oil “strategy” becomes obvious.

That of course does not alter the short-term feast of imperial hedge fund vultures over Venezuela’s carcass, starting with ghastly Paul Singer, the billionaire Zionist hedge fund manager and MAGA super PAC donor ($42 million in 2024) whose Elliott Management acquired the Houston-based subsidiary of CITGO for $5.9 billion in November, less than a third of its $18 billion market value, thanks to the embargo on Venezuelan oil imports.

The speculative money crowd is bound to cash in on up to $170 billion in the debt market; defaulted PDVSA bonds alone are worth over $60 billion.

So the Big Oil Picture in Venezuela is way more complex than the Trump 2.0 gang suspects. Of course on the road ahead we may come to a situation where the Viceroy of Venezuela, the gusano Marco Rubio, cuts off the oil flow from Caracas to Shanghai. Well, considering Rubio’s strategic “expertise”, better start regimenting battalions of lawyers right away.

Views expressed in this article are opinions of the author and do not necessarily reflect the views of ZeroHedge.

Tyler Durden Sat, 01/10/2026 - 22:10

These Are The World's Top Silver Producers

These Are The World's Top Silver Producers

Silver prices surged more than 5% in recent trading, breaking above $80 per ounce once again.

The rally has been driven by China’s restrictions on silver exports, rising demand from green technologies like solar power, and renewed interest in safe-haven assets.

This visualization, via Visual Capitalist's Bruno Venditti, highlights the world’s largest silver-producing countries and shows where global supply is most concentrated.

The data for this visualization comes from the U.S. Geological Survey’s Mineral Commodity Summaries 2025. It presents estimated silver mine production by country for 2024.

Mexico’s Production Dominance

Total world silver production reached roughly 25,000 metric tons in 2024.

Mexico remained the world’s top silver producer in 2024, with an estimated 6,300 metric tons of output. The country has held this position for decades, supported by extensive mining infrastructure and high-grade deposits. Notably, Mexico produces far more silver than its reserve share might suggest, holding only about 6% of the world’s known reserves.

China and Peru Anchor Global Supply

China ranked second globally, producing around 3,300 metric tons of silver in 2024. Much of this output comes as a byproduct of large-scale base metal mining, particularly lead and zinc.

Peru followed closely with approximately 3,100 metric tons, reinforcing South America’s importance in global silver markets.

Together, these three countries accounted for more than half of global silver production.

Beyond the top producers, countries such as Bolivia, Poland, Chile, Russia, and the United States each produced between 1,100 and 1,300 metric tons. Australia, Kazakhstan, Argentina, and India also contributed meaningful volumes.

Despite this diversity, the silver market remains tight. Strong demand from solar panels, electronics, and electrification is expected to keep the market in a deficit, putting upwards pressure on silver prices.

If you enjoyed today’s post, check out All of the World’s Oil Reserves by Country, in One Visualization on Voronoi, the new app from Visual Capitalist.

Tyler Durden Sat, 01/10/2026 - 21:35

California's Billionaire Tax Is A Trojan Horse... Not A Solution

California's Billionaire Tax Is A Trojan Horse... Not A Solution

Authored by Mollie Engelhart via The Epoch Times,

California was my home for most of my adult life—long enough to know that what looks good in a campaign slogan can feel very different when you’re the one carrying the load.

I built restaurants there. I employed people there. I signed permits, licenses, and applications like they were holiday cards. I navigated agencies that asked for more paperwork than profit statements. I paid into a system that always wanted one more filing, one more inspection, one more approval, one more fee. The joke was that my assistant didn’t work in hospitality—she worked in compliance. And it was true. That state turns compliance into a profession.

So when I see the latest proposal—a one-time 5 percent tax on anyone whose net worth exceeds $1 billion—I don’t see Robin Hood. I see Sacramento writing itself a permission slip.

The pitch says “billionaires.” But the mechanism says “total assessed wealth, declared by the owner, verified by the state, and enforceable through audit.”

That’s a power move, not a nuance.

A Tax Based on Valuation, Not Reality

Most taxes in America hit earnings or consumption. You pay when you make money, or when you buy something, or when you sell something. This proposal taxes accumulation. It doesn’t ask what you can afford. It asks what you have, and then hands a calculator to the agencies to determine the bill.

We’ve seen how this evolves. The Biden administration and Vice President Kamala Harris already proposed a federal wealth tax on Americans worth $100 million or more. Not billionaires—$100 million. That’s a signal flare, not a footnote.

It tells you exactly what you need to know: This idea isn’t anchored at the top. It’s already drifting toward the middle.

And middle is where most of the money actually lives.

The Constitution Saw This Coming

There’s a phrase from constitutional law that gets thrown around a lot in conversations like this: bill of attainder.

A bill of attainder is a law that punishes a specific person or small identifiable group without a trial, skipping the courts and due process entirely. In the United States, that kind of law is unconstitutional—lawmakers don’t get to play judge and jury and penalize a select group through legislation alone.

This proposal isn’t a criminal punishment, but the reason people bring the term up at all is because it targets a tiny group by valuation for a massive extraction event without a court proceeding first. That resemblance matters if you believe fairness isn’t optional.

The Wealthy Already Pay Plenty—Just Quietly

People talk about the “rich dodging taxes” like it’s gospel. Let me tell you what actually happens when you build something in California:

You don’t dodge taxes, you drown in them. Not just income tax, not just property tax, but sales tax, alcoholic beverage tax, payroll taxes, employer-side filings, permits, licensing fees, inspections, regulatory approvals, environmental health certificates, building permits, land use permits, and on and on and on.

That state has already been collecting revenue from business owners in every direction long before this proposal ever landed on the ballot.

If you want to know why business owners left, it wasn’t a lack of patriotism. It was math.

The Trojan Horse Isn’t the Billionaire—It’s the Precedent

The billionaires are the branding. The mascot. The costume the idea wears so voters don’t inspect the gears.

But the gears are what matter, because once a state passes a tax on total assessed wealth, future thresholds can be lowered, exemptions can be rewritten, valuation formulas can be expanded, and enforcement will land in the hands of agencies most voters will never meet—but business owners never stop meeting.

The real question is not “Should billionaires pay more?” but “Should the state have the right to tax total assessed wealth at all?”

Because once that precedent exists, the definition of “rich” will keep shifting, the net will keep widening, and the bill will keep climbing down the balance sheet toward the people who never imagined they’d qualify.

A millionaire today in California is someone who owns a house. A house today costs a million dollars there. That’s not a billionaire. That’s a math teacher and a firefighter and a family with a mortgage.

The net will widen because the money they need is not all at the top. There’s much more sitting in the middle.

And middle-class is where precedent always ends up grazing.

My Stance

I lean libertarian—I don’t want government in every aspect of our lives, our kitchens, our land, or our asset valuations. I’m a hard no on expanding its discretion any further. The slogans may be sticky, but freedoms are stickier—once lost, they don’t come back.

Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

Tyler Durden Sat, 01/10/2026 - 21:00

Amazon Is Ditching The United States Postal Service

Amazon Is Ditching The United States Postal Service

After nearly three decades of working together, Amazon is ending its delivery relationship with the United States Postal Service, a move that significantly alters how packages are moved across the country, according to MSN.

The partnership once played a major role in Amazon’s rapid expansion while generating billions in yearly revenue for USPS. The decision comes as the Postal Service continues to struggle financially, including a reported $9.5 billion loss in its most recent fiscal year.

For much of Amazon’s growth, USPS provided nationwide coverage, especially in rural and remote areas where private carriers often cannot operate profitably. That reach allowed Amazon to deliver to virtually every address in the country, making the arrangement one of the largest public-private logistics partnerships in U.S. history. Recent contract negotiations and changes to USPS pricing appear to have pushed Amazon toward a different approach. Instead of renewing the agreement, the company is shifting more deliveries to its own expanding logistics network, tightening its control over speed, cost, and customer experience.

MSN notes that the shift raises serious concerns for workers. Analysts estimate that as many as 100,000 jobs connected directly or indirectly to Amazon’s shipping volume could be affected across postal operations, transportation, and contract delivery services. Although the changes may unfold gradually, declining package volume could lead to staffing reductions across multiple regions.

For USPS, losing Amazon removes a key revenue source that helped offset long-term declines in traditional mail. Without that income, the agency may be forced to accelerate cost-cutting, restructure routes, and reduce staffing through attrition and reorganization. At the same time, consumers may begin to notice changes in delivery patterns. In urban areas, Amazon drivers and third-party contractors are likely to take over more deliveries, while in less populated regions customers may experience shifts in delivery timing or service availability as Amazon adjusts its logistics footprint.

The Postal Service is now exploring new ways to stabilize revenue, including opening its delivery network to competitive bids from other retailers and logistics companies. The separation highlights the growing divide between public service obligations and the fast-moving demands of modern ecommerce. As private companies expand their own delivery systems and public institutions fight to remain financially viable, the end of this partnership may be remembered as a defining moment in the evolution of American logistics and commerce.

Tyler Durden Sat, 01/10/2026 - 20:25

DNC Signals Possible Legal Action Against 10 States Over Proposed DOJ Voter-List Agreement

DNC Signals Possible Legal Action Against 10 States Over Proposed DOJ Voter-List Agreement

Authored by Chase Smith via The Epoch Times,

The Democratic National Committee (DNC) sent warning letters to election officials in 10 states on Friday, saying proposed agreements with the Justice Department to share unredacted voter registration files and act on list maintenance concerns could violate federal election law.

The letters went to election offices in Alabama, Mississippi, Missouri, Montana, Nebraska, South Carolina, South Dakota, Tennessee, Texas, and Utah. In each, the DNC said the Justice Department indicated the state had entered or could soon enter a memorandum of understanding that “appears to require violations” of the National Voter Registration Act (NVRA).

A Justice Department spokesperson told The Epoch Times in an email, “The Department of Justice has statutory authority to enforce our nation’s election laws and protect the integrity of our electoral system. Organizations should think twice before interfering in a federal investigation and encouraging the obstruction of justice, unless they’d like to join the dozens of states that are learning their lesson in federal court.”

Earlier this week, the Justice Department said it had sued Arizona and Connecticut, alleging the states failed to turn over their full voter registration rolls for federal inspection. DOJ said the filings brought its nationwide total to 23 states plus the District of Columbia in lawsuits tied to access to statewide voter registration lists.

In Arizona, the lawsuit says U.S. Attorney General Pam Bondi requested the voter registration list from Arizona Secretary of State Adrian Fontes in July 2025 and later extended the deadline to September 2025. The suit says Fontes refused, citing state and federal privacy laws, and asks a court to compel production under the Civil Rights Act’s information-production provisions.

Arizona Attorney General Kris Mayes told The Epoch Times that “Arizonans’ private voter registration information is not up for grabs,” and Fontes said he declined due to privacy concerns.

In Connecticut, the lawsuit says Bondi requested the list in August 2025 and then demanded it in December 2025, but Connecticut Secretary of State Stephanie Thomas said state law bars release of the information sought. Connecticut Attorney General William Tong said the state tried to work with DOJ but “rather than communicating productively with us, they rushed to sue.”

The DNC’s letters to the 10 states pointed to a proposed agreement that would require a state to agree that “within forty-five (45) days of receiving notice from the Justice Department of any issues, insufficiencies, inadequacies, deficiencies, anomalies, or concerns,” the state would “clean” its voter registration list or data “by removing ineligible voters” and resubmit updated data to DOJ for verification.

The party argued that a “45-Day Removal Demand” could conflict with NVRA provisions that govern how states remove voters based on suspected changes in residence and that restrict certain systematic list-maintenance activity close to federal elections. In a longer legal argument, the DNC said the NVRA’s affirmative list-maintenance mandate requires a “reasonable effort” to remove certain categories of ineligible registrants and argued the proposed demand goes beyond what federal law requires.

The letters also sought records from the states, including documents related to any DOJ agreement and information about any voters removed, inactivated, or contacted based on the 45-day demand or other DOJ-provided information, including the voter’s party affiliation and the purported basis of ineligibility. The letters asked for responsive records dating from Jan. 1, 2025, to the present.

The DNC signaled it could escalate the matter but said the current letters were not the formal notice that can precede litigation under the NVRA. In the Alabama letter, the DNC wrote that the state may not yet have violated the NVRA and said the letter “does not constitute written notice of violations of the NVRA,” adding that the party “stands ready to issue a formal notice” if evidence of ongoing violations emerges.

The DNC said its concerns were triggered, in part, by statements made in a Dec. 4, 2025, federal court hearing. In the Mississippi letter, the DNC cited a transcript and wrote that the acting chief of the DOJ Voting Section told a judge the state had “expressed ... a willingness” to enter a proposed memorandum concerning voter registration list maintenance.

The White House defended the Justice Department’s authority to press states on voter roll maintenance.

White House spokesperson Abigail Jackson told The Epoch Times in an email, “The Civil Rights Act, National Voting Rights Act, and Help America Vote Act all give the Department of Justice full authority to ensure states comply with federal election laws, which mandate accurate state voter rolls. President Trump is committed to ensuring that Americans have full confidence in the administration of elections, and that includes totally accurate and up-to-date voter rolls free of errors and unlawfully registered non-citizen voters.”

The Epoch Times reached out to the 10 state officials addressed in the letters but did not hear back prior to publication.

Tyler Durden Sat, 01/10/2026 - 19:50

Wall Street's Crypto Debate Is Over As Banks Go All-In On BTC, Stablecoins, Tokenized Cash

Wall Street's Crypto Debate Is Over As Banks Go All-In On BTC, Stablecoins, Tokenized Cash

Authored by Sam Bourgi via CoinTelegraph.com,

Big banks aren’t debating crypto anymore — they’re building it. From tokenized cash to ETFs, Wall Street is quietly going onchain.

For years, major banks treated cryptocurrency primarily as a risk to be contained. That posture is now giving way to a more deliberate form of engagement. Rather than debating crypto’s legitimacy, banks are increasingly deciding how and where to integrate it, from regulated investment products to blockchain-based payment rails.

This shift is on full display in this week’s Crypto Biz. JPMorgan is extending its US dollar deposit token onto new blockchain infrastructure, signaling that tokenized cash is moving closer to production use within global banking. 

Morgan Stanley, meanwhile, is positioning itself to offer exposure to Bitcoin and Solana through exchange-traded funds (ETFs), potentially bringing crypto investments to millions of wealth management clients. 

Barclays has made its first bet on stablecoin infrastructure, backing settlement rails designed to connect regulated issuers with financial institutions. 

And Bank of America has taken another step toward normalization by allowing advisers to recommend spot Bitcoin ETFs to clients.

Together, these moves suggest the banking sector is no longer content to watch from the sidelines.

JPM Coin heads to the Canton Network

JPMorgan announced plans to issue its US dollar-denominated deposit token, JPM Coin (JPMD), natively on the Canton Network, marking another step by Wall Street toward production-ready blockchain infrastructure.

Digital Asset, the developer of the Canton Network, and Kinexys by JPMorgan will extend JPM Coin from its existing rails onto Canton’s privacy-focused layer-1 blockchain, enabling regulated digital cash to move across interoperable networks.

According to an announcement shared with Cointelegraph, JPM Coin, described as the first bank-issued, US dollar-denominated deposit token for institutional clients, represents a digital claim on JPMorgan’s dollar deposits and is designed to facilitate faster, more secure movement of regulated money on public blockchains.

“This collaboration brings to life the vision of regulated digital cash that can move at the speed of markets,” said Yuval Rooz, co-founder and CEO of Digital Asset.

Morgan Stanley enters crypto ETF race

US investment bank Morgan Stanley is entering the cryptocurrency exchange-traded fund market, with proposed products offering exposure to Bitcoin and Solana, following the strong debut of spot crypto ETFs in the United States.

The bank has filed with the US Securities and Exchange Commission to launch two investment vehicles, the Morgan Stanley Bitcoin Trust and the Morgan Stanley Solana Trust, designed to provide passive investment exposure to the performance of their underlying digital assets.

If approved, the funds could be made available to more than 19 million clients within Morgan Stanley’s wealth management division, significantly expanding access to crypto-linked investment products.

Spot Bitcoin ETFs have ranked among the most successful ETF launches on record, attracting substantial inflows during their first two years of trading. Momentum has continued into the new year, with renewed investor demand driving fresh inflows during the first trading sessions.

The 12 spot US Bitcoin ETFs have amassed more than 1.3 million BTC, valued at nearly $120 billion. Source: Bitbo

Barclays invests in stablecoin infrastructure

London-based banking giant Barclays has made its first investment in a stablecoin-focused company, signaling traditional finance’s growing interest in digital dollar infrastructure.

The bank announced an undisclosed investment in Ubyx, a US-based stablecoin clearing platform that connects regulated issuers with financial institutions to facilitate settlement and interoperability. The move also marks a notable shift for Barclays, which in recent years has publicly emphasized the risks associated with digital assets.

“This investment aligns with Barclays’ approach to explore opportunities based on new forms of digital money, such as stablecoins,” the bank said in a statement.

Ubyx has previously raised $10 million in seed funding, backed by Galaxy and Coinbase. The company was founded by Tony McLaughlin, a former Citibank executive.

Bank of America wealth advisers cleared to recommend Bitcoin ETFs

US investors may soon receive recommendations to buy Bitcoin ETFs from Bank of America’s private bank and Merrill Edge platforms, adding to evidence of Bitcoin’s growing integration into traditional finance.

The bank’s chief investment office has approved coverage of four U.S. spot Bitcoin ETFs, including products offered by Bitwise, Fidelity, BlackRock and Grayscale. Collectively, the funds manage more than $100 billion in Bitcoin assets.

The move comes roughly a month after Bank of America reportedly advised wealth management clients to allocate 1% to 4% of their portfolios to digital assets.

“For investors with a strong interest in thematic innovation and comfort with elevated volatility, a modest allocation of 1% to 4% in digital assets could be appropriate,” Chris Hyzy, chief investment officer at Bank of America Private Bank, told Yahoo. 

Tyler Durden Sat, 01/10/2026 - 18:40

"Uninvestable": Trump's $100 Billion Venezuela Gamble Meets Oil Industry Reality

"Uninvestable": Trump's $100 Billion Venezuela Gamble Meets Oil Industry Reality

President Donald Trump’s push for U.S. oil companies to commit at least $100 billion toward rebuilding Venezuela’s energy industry is meeting significant resistance from the very executives he is courting, according to Bloomberg.

Although the White House projects confidence, industry leaders are warning that Venezuela remains too unstable for major investment, with Exxon Mobil CEO Darren Woods describing the country bluntly as “uninvestable.”

At a closed-door meeting Friday with roughly 20 energy executives, Trump said he expected an agreement “today or very shortly thereafter” to restart large-scale drilling in Venezuela following the removal of Nicolás Maduro. He applied direct pressure, telling the group, “If you don’t want to go in, just let me know, because I’ve got 25 people that aren’t here today that are willing to take your place.”

Publicly, many executives praised the opportunity. Privately and in their remarks, they expressed deep concern about risk, governance, and long-term returns. Woods delivered the strongest warning, pointing to Venezuela’s unstable business environment and past expropriations. “If we look at the legal and commercial constructs and frameworks in place today in Venezuela today, it’s uninvestable,” he said, noting Exxon’s assets there had already been seized twice. He questioned whether any future protections would hold: “How durable are the protections from a financial standpoint? What will the returns look like? What are the commercial arrangements, the legal frameworks?” Even so, he added that Exxon would be willing “to put a team on the ground” if invited and given proper security guarantees.

Other executives struck a cautious tone. Continental Resources founder Harold Hamm said the prospect “excites me as an explorationist,” but emphasized the scale of the task ahead: “There’s a huge investment that needs to be done — we’ve all agreed on that, and certainly we need time to see that through.”

Bloomberg writes that Trump, however, left the meeting projecting momentum. “We sort of formed a deal,” he told reporters, predicting companies would soon be investing “hundreds of billions of dollars in drilling oil.” Yet when pressed for specifics, Energy Secretary Chris Wright acknowledged that Chevron — the only U.S. major still operating in Venezuela — was the only firm to make a concrete pledge. Chevron Vice Chairman Mark Nelson said production, now about 240,000 barrels per day, could rise by roughly 50% within 18 to 24 months.

Trump sought to ease investor fears by promising sweeping protections: “You have total safety, total security,” he said. “You’re dealing with us directly — you’re not dealing with Venezuela or we don’t want you to deal with Venezuela.” Wright later said the administration’s priority is to “change the behavior of the government in Venezuela” and “drive better business conditions.”

The meeting included moments of levity over massive past losses. When ConocoPhillips CEO Ryan Lance said his company had absorbed a $12 billion hit in Venezuela, Trump replied, “Good write-off,” prompting Lance to respond, “It’s already been written off.”

Some executives were openly eager. Repsol’s CEO told Trump his company was “ready to invest more in Venezuela today,” and Armstrong Oil & Gas CEO Bill Armstrong said, “We are ready to go to Venezuela… it is prime real estate… kind of like West Palm about 50 years ago: very ripe.”

Still, many industry figures are uneasy about the optics and risks of the administration’s strategy, which critics argue amounts to an aggressive grab for Venezuela’s vast oil reserves. Trump defended the move bluntly: “If we didn’t do this, China or Russia would have done it.”

Despite the uncertainty, Wright predicted Venezuela’s output would “hopefully” begin rising by summer and said, “They are going to ramp up investment immediately in the next few weeks… Can we achieve $100 billion investment over next 10 years? I think absolutely.

Venezuela holds the world’s largest proven oil reserves, but decades of neglect, sanctions, and infrastructure collapse have pushed production below one million barrels per day. Rebuilding even a fraction of its former output will require years of work and tens of billions of dollars to repair abandoned rigs, corroded pipelines, and heavily damaged facilities.

Tyler Durden Sat, 01/10/2026 - 18:05

Not Worth A Continental

Not Worth A Continental

Authored by Jeff Thomas via InternationalMan.com,

In late-18th-century America, something of minimal value was often described as being “not worth a continental,” which referred to the continental dollar, the American currency at the time of the revolution.

The continental was paper money. It had occurred to the colonists that, as their revolution was costing quite a bit to maintain, they could go into “temporary” debt to finance the war. Soon it became clear that the debt could not be repaid. Also, the printing of paper banknotes resulted in inflation. The solution? Print more of them. Further devaluation of the continental motivated the colonists to print more… then more… then still more. The continental became worthless, either for local trade or for repayment of debt.

The new country, the United States, then did something quite unusual. In its new Constitution, it created a clause to assure that this would never happen again. Under Article I, Section 10, the states were not permitted to “coin Money; emit Bills of Credit; [or] make any Thing but gold and silver Coin a Tender in Payment of Debts.”

The founding fathers of the US had figured out that the issuance of paper currency was a disaster in the making, and in 1792, passed the Coinage Act, denominating coins to be minted. The act authorized three gold coins: $10.00 eagles, $5.00 half eagles, and $2.50 quarter eagles, in addition to silver coins.

Of course, later US political leaders have largely committed the Constitution to the dustbin. Since that time, dozens of countries have followed a similar pattern of war/debt/hyperinflation. Let’s look at a few:

German 100 “billionen” mark banknote, ca. 1923

Reparations for WWI were required in hard currency. The papiermark was printed in mass quantity to buy foreign currency in order to pay reparations. The proliferation of bank notes caused the cost of goods to rise dramatically.

This rise was so dramatic that it led to a flight by Germans into hard assets, to avoid holding paper bank notes. (This is the classic tipping point at which inflation morphs into hyperinflation.) Predictably, governmental operation costs also rose. An increase in taxation was of no value, as it would be paid in the devaluating currency.

If the government stopped the inflation, this would cause immediate bankruptcies, unemployment, strikes, etc. But if they continued, they would default on the foreign debt through hyperinflation. They chose the latter, which, although ultimately more destructive, would buy the politicians a bit more time. (Hyperinflation is seen today as having paved the way for Adolf Hitler and the Nazi takeover of Germany.)

Hungarian 100 million billion pengő, ca. 1946

In 1945, Hungary was severely strapped for money, as a result of WWII. The Hungarian National Bank was instructed to issue currency proportional to whatever the budget required. Silver coinage disappeared. Banknotes were issued with no cover of any kind, and hyperinflation took hold.

As always, the government was confident that it could control inflation, but once hyperinflation took over, it was entirely beyond control. It is important to note that hyperinflation, once it begins, spreads like wildfire. The Hungarian hyperinflation began at the end of 1945 and peaked the following July.

Yugoslav 500 billion dinar banknote, ca. 1993

More recently, Yugoslavia, economically weakened by regional war, had used up all its hard currency reserves and decided to loot the savings of its citizens. This it did through the printing of money and increasing restrictions on citizens’ savings in government banks.

Not surprisingly, inflation rose dramatically. The government reacted by imposing price controls, which eliminated profits, so manufacturers ceased to produce essential goods. By 1993, when prices were doubling every fifteen hours, the country had reached the point that bakers stopped making bread.

Zimbabwe 100 trillion dollar banknote, ca. 2008

Zimbabwe’s civil war emptied the country’s treasury. Beginning in1998, President Robert Mugabe took land and other assets from white farmers and redistributed them to less-experienced black farmers. Food exports plummeted, prompting Mugabe to print more currency. Revenues to government suffered as a result, with wages failing to keep up. Hospitals and schools developed chronic staffing problems, because nurses and teachers could not afford bus fare to get to work. The capital of Harare was without water, because the authorities had stopped paying the bills to buy and transport the treatment chemicals. By 2008, prices were doubling every 24 hours.

There are many other examples, but the ones listed above provide a fairly good thumbnail sketch. There are many paths by which political leaders may destroy a country’s economy through hyperinflation. But those leaders who follow the standard checklist of the most common components to collapse can generally be assured that the economy will be destroyed. Let’s have a look at that checklist:

  • War (Can be one major war, or, as in today’s world, perpetual small wars)

  • Depletion of gold reserves

  • Excessive Debt (Create a debt level that is beyond the ability to repay)

  • Devaluation of currency (Print massive amounts of currency to diminish debt)

  • Loss of control of inflation (Inflation morphs into hyperinflation—a state in which citizens actively try to rid themselves of the currency, as it is devaluating so quickly.)

We are living in a period in which much of the world has committed the first three to four of the above grave errors and is reaching the tipping point at which the fifth kicks in. It’s important to emphasise that hyperinflation is never actually anticipated by governments; it always occurs suddenly, and it happens very fast. In addition, once begun, it never reverses direction. It always plays out until a complete monetary collapse occurs.

Back in the beginning paragraphs of this article, we mentioned that, in 1787, America’s founding fathers took the highly unusual step of enshrining in the Constitution a control to assure that private banks would never again create fiat currencies. The 1792 Coinage Act provided for a coin of the land—the “eagle,” which was to be made of gold.

The paper continental, along with the silver certificate and the gold certificate, has long since disappeared, but the US gold eagle is still being minted today.

And here’s the interesting aspect of gold coinage: The eagle has the same purchasing power as it did back in 1787. Whilst its nominal value may rise and fall, one ounce of gold purchases the same amount of goods as it has throughout history.

The significance of this is that gold, in essence, does not go up and down in value. Rather, gold is the standard by which currencies go up and down. Over the course of history, there have occasionally been anomalies in which gold is down for a brief time, or it is overbought and a bubble briefly occurs. But gold is like the seas: it has its tides, but like water, it seeks its own level and invariably continues as the standard of value.

In times like the present one, when we may anticipate the hyperinflation of numerous currencies, those seeking to preserve what they have, might wish to turn to gold as a relative safe haven, as mankind has done for 5000 years.

*  *  *

History is remarkably consistent. From the worthless continental to Weimar Germany, Hungary, Yugoslavia, and Zimbabwe, the pattern is always the same—governments print their way out of trouble, currencies collapse, and those holding paper wealth pay the price. The constant thread running through every one of these episodes is that gold did not fail; the currencies around it did. If you’d like a deeper, unfiltered look at why gold has survived every monetary breakdown for thousands of years—and why it matters now—we’ve arranged a free video featuring legendary investor Doug Casey. In it, he explains what most commentators still refuse to acknowledge about today’s monetary system and what history suggests comes next. Click here to watch the free video now. 

Tyler Durden Sat, 01/10/2026 - 17:30

Minneapolis City Officials Dismantle 'No-Go Zone' Set Up By Anti-ICE Agitators

Minneapolis City Officials Dismantle 'No-Go Zone' Set Up By Anti-ICE Agitators

Authored by Debra Heine via American Greatness,

Leftwing agitators in Minneapolis on Thursday set up a short-lived  “autonomous zone” that spanned several blocks in the southeastern part of the city, and reportedly declared it a “no-go zone” for law enforcement.

The city however removed the barricades surrounding it overnight to allow residents and first responders access to the area.

On Wednesday, 37-year-old Renee Nicole Macklin Good, was shot and killed by an ICE agent in Minneapolis, after she had accelerated her Honda Pilot toward the officer, hitting and injuring him.

Leftwing operatives immediately seized on the incident to incite disorder and riots in the Twin Cities and elsewhere.

Thursday night, activists were seen setting up barricades in the street with stolen trash bins, Christmas trees and other materials, blocking residents and police from driving in the neighborhood.

According to independent journalist Nick Sortor, the makeshift barricades were set up at all intersections, with “guards” posted at each one.

The anti-ICE agitators brought in food, drinks and medical supplies, placing the items on tables under pop-up canopies in the street. At least one of the canopies contained a portable fire pit. Activists also set fires in the street to stay warm.

“This looks almost IDENTICAL to CHAZ, or the ‘Capitol Hill Autonomous Zone’ in Seattle in 2020, where the city SURRENDERED a neighborhood to anarchists who made their own ‘laws.’

It didn’t take long for that cop-free social experiment to devolve into chaos, with shootings, drug and alcohol abuse, theft, vandalism, and street brawls a regular occurrence. Seattle Police easily cleared out the Seattle autonomous zone on July 1, 2020, after several weeks of violent anarchy.

City officials cleared the blockade in Minneapolis early Friday to ensure fire and medical access, leaving a memorial of candles and flowers intact.

Authorities noted that residents who live in the area had also raised concerns about neighborhood access.

“Safety has to come first—every second matters when lives are on the line,” said Interim Chief Melanie Rucker, Minneapolis Fire Department. “Just up the street from this location, our crews were actively fighting a three-alarm fire on Monday night. When streets are blocked, it slows our response, limits access to critical resources and puts both residents and emergency responders at risk.”

Tyler Durden Sat, 01/10/2026 - 15:10

Watch: New Footage Shows Three Minutes Before Minneapolis ICE-Involved Shooting

Watch: New Footage Shows Three Minutes Before Minneapolis ICE-Involved Shooting

Update (1410ET):

Additional footage has surfaced, apparently from a nearby resident, showing at least three minutes leading up to the ICE-involved shooting in Minneapolis of a left-wing activist who was blocking traffic in an attempt to impede federal agents during a deportation operation.

The internet has been a battleground of competing narratives, fighting over which will be the consensus, in which left-leaning corporate media outlets and Democrats say the woman shot and killed did nothing wrong, while the White House and right-leaning outlets have said she was part of "ICE Watch" and part a pressure campaign against ICE.

The Trump administration has sprung into action over the last few days in an attempt to control the narrative and ensure Democrats don't win this narrative fight. Maybe that's because if Democrats succeed, it is clear the party wants a repeat of 'George Floyd 2.0' riots.

White House press secretary Karoline Leavitt posted on X,

Remember when the media called Abrego Garcia an innocent "Maryland Man," when he was actually an illegal alien, human trafficker, wife beater, and gang member? Minnesota is a different case, but the legacy media is running the same playbook. This woman was not "an innocent mother dropping off her child at school." She was a leftist insurrectionist who was purposefully and illegally obstructing law enforcement operations. More evidence here:

"The media suppresses this footage because the truth destroys their narrative. They require your ignorance to maintain control. This is psychological warfare disguised as journalism," one X user stated

*   *   * 

There are competing narratives about Wednesday’s ICE-involved shooting in Minneapolis. Some left-leaning corporate outlets focused on the fact that a woman was shot and killed by an ICE agent during a federal enforcement deportation operation, while other media, like the New York Post, highlighted that the woman, identified as 37-year-old Renee Nicole Good, was part of a left-wing group "Ice Watch" that mounted pressure campaigns on ICE agents on the ground.

Put aside all those viral videos on X; now Alpha News has obtained cellphone footage from what appears to be one of the ICE agents, and it provides a completely new perspective on what happened and why the ICE agent felt threatened enough to fire several shots at Good, killing the activist.

The NYPost reported late Thursday night that Good was an anti-ICE "warrior" and part of a network of left-wing activists who worked to "document and resist" ICE operations in Minnesota.

The video from an ICE agent appears to confirm that Good and another individual were obstructing federal agents in the middle of the street.

Vice President JD Vance commented on Alpha News' report, saying, "What the press has done in lying about this innocent law enforcement officer is disgusting. You should all be ashamed of yourselves." 

*This is a developing story.... Check back for more updates.

Tyler Durden Sat, 01/10/2026 - 14:10

USDA Suspends All Payments To Minnesota's Food Programs Over Suspected Fraud

USDA Suspends All Payments To Minnesota's Food Programs Over Suspected Fraud

Authored by Jill McLaughlin via The Epoch Times,

The U.S. Department of Agriculture (USDA) suspended payments for all federal food programs in Minnesota and Minneapolis Friday over alleged fraud and abuse of federal funds statewide.

“Enough is enough!” USDA Secretary Brooke Rollins posted on X, announcing the suspension. “The Trump administration has uncovered massive fraud in Minnesota and Minneapolis—billions siphoned off by fraudsters. And those in charge have zero plan to fix it.”

The agency plans to suspend all payments of federal financial awards to the state and city—totalling about $130 million—until state and local officials provide documentation detailing expenditures and transactions for the past year, Rollins said.

More than 440,000 people—about one in 13 residents—receive monthly assistance from the federally funded Supplemental Nutrition Assistance Program (SNAP), according to the Minnesota Department of Children, Youth, and Families.

SNAP uses around three-fourths of the federal funding for food-related programs and about 7 percent of all federal funding for the state, the agency reported.

In all, Minnesota received an estimated $2.05 billion in federal funds for 52 food-related programs in 2025, according to the state. The top five programs were SNAP; Women, Infants, and Children Supplemental Nutrition Program (WIC); school lunches; school breakfasts; and the child and adult care food program.

According to Rollins, Gov. Tim Walz’s administration did not provide the USDA information about SNAP participants that would prevent continuing fraud. The state also sued the USDA in December 2025 to block the agency’s directive to recertify the state’s SNAP recipients.

Minnesota Attorney General Keith Ellison sued the Trump administration after the USDA demanded it recertify 100,000 households that receive SNAP benefits with in-person interviews by Jan. 15 to verify if they were eligible for the program.

Ellison argued in the lawsuit that the USDA’s demand violated several aspects of federal law.

As part of Friday’s notice, Rollins notified state and city officials they would have to provide the USDA with payment justifications for all federal dollar expenditures from Jan. 20, 2025, to the present.

All transactions on funding awards to the state and city would require the same payment justifications, according to Rollins.

Federal investigators from multiple branches of the Trump administration have focused on Minnesota amid allegations of fraud in the state’s federal child care, day care, Small Business Administration, housing, food, and other social services programs.

The USDA’s funding pause is the latest measure taken by the administration in the past two weeks as officials widen the scope of investigations.

“While the full extent of fraud in Minnesota is not yet known, it is clear that, under your leadership—or lack thereof—fraudsters can take advantage of federal funds and the American taxpayer with impunity,” Rollins said in her notice. “This necessitates federal action to protect taxpayer dollars until adequate safeguards can be established.”

Walz’s office, Minneapolis Mayor Jacob Frey’s office, and the Minneapolis Department of Children, Youth, and Families did not immediately return requests for comment about the announcement.

Tyler Durden Sat, 01/10/2026 - 14:00

US And Venezuela Explore Restoring Diplomatic Ties After Maduro's Capture

US And Venezuela Explore Restoring Diplomatic Ties After Maduro's Capture

Authored by Kimberley Hayek via The Epoch Times,

The United States and Venezuela announced Friday they are pursuing the possibility of reestablishing diplomatic relations, coming a week after a U.S. military operation that captured former leader Nicolás Maduro in Caracas and extradited him to face drug-trafficking charges in New York.

A U.S. delegation, including diplomats and security personnel, visited Venezuela to evaluate the potential reopening of the American Embassy in Caracas, the State Department said in a statement sent to media outlets. The department did not immediately return a request for comment.

The embassy has been shuttered since 2019, when ties were severed during U.S. President Donald Trump’s first term after the United States, along with multiple other countries, recognized opposition leader Juan Guaidó as Venezuela’s legitimate president amid allegations of election fraud. U.S. officials have also been accusing Maduro and his regime of backing cartels trafficking illicit drugs into the United States.

Venezuela’s interim government, led by acting President Delcy Rodríguez, responded by stating it intends to send a delegation to the United States. No timeline was provided yet.

“The government of Venezuela has decided to initiate an exploratory diplomatic process with the U.S. government, with a view to reestablishing the diplomatic missions in both countries,” the Venezuelan government said in a statement.

Such a visit would likely necessitate waivers from U.S. Treasury sanctions imposed on Venezuelan officials.

The move comes amid Rodríguez’s efforts to manage domestic pressures, including demands from Venezuela’s military hard-liners furious over Maduro’s capture. In phone discussions with the presidents of Brazil, Colombia, and Spain, she described the U.S. operation as “grave, criminal, illegal, and illegitimate aggression” against Venezuela.

Later, during a televised event at the opening of a women’s health clinic in Caracas, Rodríguez highlighted diplomacy as key to safeguarding the nation and facilitating “the return of President Nicolás Maduro and First Lady Cilia Flores.”

“We will meet face-to-face in diplomacy ... to defend the peace of Venezuela, the stability of Venezuela, the future, to defend our independence and to defend our sacred and inalienable sovereignty,” Rodríguez said, without directly addressing the embassy’s potential reactivation.

Rodríguez on Jan. 5 extended an invitation for U.S. collaboration, writing on social media: “We invite the U.S. government to collaborate with us on an agenda of cooperation oriented towards shared development within the framework of international law to strengthen lasting community coexistence.”

She further emphasized moving toward “balanced and respectful international relations.”

Maduro appeared in federal court in New York on Jan. 5 and pleaded not guilty to drug trafficking charges, according to U.S. officials.

Following Maduro’s removal, Rodriguez, who served as Maduro’s deputy, assumed interim leadership. U.S. authorities said Washington would exercise oversight of the transitional government.

The U.S. president has urged Rodríguez and remaining Maduro allies to align with U.S. interests, particularly enforcement against drug trafficking and control over Venezuela’s vast oil reserves.

Venezuela’s oil sector holds the world’s largest proven reserves but has been mismanaged and financially neglected for years. Oil output has fallen from more than 3 million barrels per day in the early 2000s to less than 1 million barrels per day in recent years, according to data from the U.S. Energy Information Administration.

On Jan. 10, Trump invited executives of large oil companies to the White House on Friday to discuss investment opportunities that will restore Venezuela’s oil infrastructure following the ousting of Maduro. Trump said that American oil companies will invest at least $100 billion in Venezuela to boost its oil production.

“We’re going to discuss how these great American companies can help rapidly rebuild Venezuela’s dilapidated oil industry and bring millions of barrels of oil production to benefit the United States, the people of Venezuela, and the entire world,” Trump said as he welcomed the executives.

The president also announced on Jan. 6 that Venezuela will send 30 million barrels of oil, valued at approximately $4 billion, to the United States.

U.S. visits to Caracas have been infrequent since the embassy closure, with the most recent in February 2025 involving special envoy Richard Grenell, who secured the release of six detained Americans after meeting Maduro.

Tyler Durden Sat, 01/10/2026 - 12:50

UK Government Threatens Total Ban On X Over Grok Bikini Flap

UK Government Threatens Total Ban On X Over Grok Bikini Flap

Authored by Steve Watson via Modernity.news,

The UK’s Labour government under Prime Minister Keir Starmer has escalated its war on online expression, now openly threatening to ban Elon Musk’s X platform entirely. Using the pretext of Grok AI’s image generation capabilities, Starmer’s regime is pushing for total control over what Brits can see and say online, exposing the thin veil over their authoritarian impulses.

This move comes amid a surge in Grok-generated sexualized images, but the crackdown reeks of selective outrage aimed at silencing dissent rather than protecting anyone.

Starmer issued the threat, declaring “This is disgraceful. It’s disgusting, and it’s not to be tolerated,” adding that “all options are on the table” to address what he called unlawful content on X. He emphasized, “X has got to get a grip of this, and Ofcom (The UK’s regulatory authority for the internet) has our full support to take action in relation to this. This is wrong. It’s unlawful. We’re not going to tolerate it.”

Labour MP Lola McEvoy doubled down, stating platforms like X “have no right to be accessed in this country” if they fail to comply with the UK’s draconian Online Safety Act.

Multiple sources confirm insiders are advancing plans to block the site, with the AI excuse front and centre.

Leaked WhatsApp messages have also revealed Labour MPs urging the government to abandon X altogether, labeling Elon Musk a “fascist” and arguing it should “show direction to others in the UK.”

One MP questioned why they couldn’t follow Trump’s lead with Truth Social, while others claimed their constituents are on Facebook instead.

Journalist Alison Pearson nailed the double standard: Starmer rants about “safety” on X while flooding the country with undocumented fighting-age males daily. What about the real threats to British women and girls from unchecked migration? He doesn’t give a damn about anyone’s safety.

Starmer, now the most unpopular UK Prime Minister in history with just a 15% approval rating, is also the most community-noted public figure on X, constantly called out for lies. He’s the fifth most ratio’d person on the platform—everyone exposes his deceptions. He can’t control X, and there’s no doubt that this is playing into the move.

Broadcaster Alex Phillips tore into him: “You don’t like X because you don’t like free speech. That’s why you want to close it down. You’re a thin-skinned megalomaniacal monster. We see you, Keir Starmer!”

Starmer’s threats have drawn international backlash. US Republicans, including Trump ally Anna Paulina Luna, warn of sanctions against the UK if the ban proceeds, labeling it a direct assault on free speech.

The post continues,

“…restricting the platform, including the dispute with Brazil in 2024–2025, which resulted in tariffs, visa revocations, and sanctions and consequences tied to free speech concerns against Brazilian officials over concerns related to censorship and free-speech violations.

Starmer should reconsider this course of action, or there will be consequences.

There are always technical bugs during the early phases of new technology, especially AI, and those issues are typically addressed quickly. X treats these matters seriously and acts promptly. Let’s be clear: this is not about technical compliance. This is a political war against @elonmusk and free speech—nothing more.”

Trump himself has signaled readiness to hit back, tying into his administration’s visa bans on Europeans pushing tech censorship.

Trump also recently suspended a $40 billion tech deal with the UK over its free speech crackdown, a move that underscores America’s commitment to First Amendment principles, and a clear sign that the President will not stay silent on Britain’s freedom crushing policies.

Trump has long been attuned to Britain’s erosion of rights, dispatching a “free speech squad” from the State Department in May to investigate cases of activists arrested for silent protests and online dissent. 

He’s even offered political asylum to UK “thought criminals,” including those prosecuted for gender-critical views or immigration criticism, positioning America as a haven for those fleeing authoritarian overreach.

The UK’s erosion of free speech has been accelerating, from jailing citizens over tweets, to branding criticising illegal immigration as hate speech, to criminalising ‘wrong’ opinions on sports commentators.

Even the likes of Google, which has previously demonetized, shadow-banned, and outright censored content that doesn’t align with leftist narratives, has expressed concern over the tyrannical potential of the Online Safety act.

Starmer’s focus on Grok also completely ignores that other AIs, like ChatGPT and Google’s Gemini, enable the exact same image manipulations—putting people in bikinis or worse. All AI can do this, it’s clearly selective outrage.

The government has also not expressed any concern about the fact that Google’s AI gets basic historical facts wrong and skews everything toward woke/DEI, as well as giving bad health tips, encouraging suicide, and falsely accusing people of being rapists and racists.

Why single out X? Because it’s the one platform where truth slips through the cracks of mainstream control and free speech is fully embraced.

Starmer’s regime can’t hide behind “safety” forever. Banning X won’t erase the truth— it’ll only fuel the resistance. Brits deserve platforms where facts flow freely, not dictated by thin-skinned tyrants.

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

Tyler Durden Sat, 01/10/2026 - 09:20

Economic Satisfaction Declines With Age

Economic Satisfaction Declines With Age

More than four in ten adults in the United States view their personal financial situation positively.

This is according to a new survey by Statista Consumer Insights, conducted between October 2024 and September 2025.

 Economic Satisfaction Declines With Age | Statista

You will find more infographics at Statista

At 43 percent, this marks an increase of four percentage points from one year before.

A perception gap persists between age groups, with younger generations (18 to 29 year olds and 30 to 49 year olds) more likely to be content with their financial situation than those aged 50-64 years old.

Just 33 percent of the older age group said they felt positively, compared to 47 percent of the two younger age brackets.

Tyler Durden Sat, 01/10/2026 - 08:45

Germany's Conversion To Planned Economy, War With Russia As Driver

Germany's Conversion To Planned Economy, War With Russia As Driver

Submitted by Thomas Kolbe

The president of the Kiel Institute for the World Economy, Moritz Schularick, makes no secret in an interview with the Neue Osnabrücker Zeitung that the signs are pointing toward a war economy. It is bizarre to witness how economists succumb to the intellectual mediocrity of central planning.

Professor Moritz Schularick, president of the Kiel Institute for the World Economy (IfW), seems to have found the ultimate solution to Germany’s economic problems. In conversation with the Neue Osnabrücker Zeitung (NOZ), the economist complained about a leadership vacuum in German arms policy. He sees it as central to an active industrial policy that could lead Germany out of its economic woes. Schularick expects that arms production will act as a, in his own words, “job booster.”

He said literally: “If we want Europe to truly stand on its own in defense soon and not remain dependent on the MAGA-USA, then Defense Minister Boris Pistorius must be given the order to work with European partners to eventually replace the USA and its capabilities.”

Fatal War Rhetoric 

“Order to march,” military self-sufficiency — the vocabulary is both revealing and dangerous. It seems politics and state-adjacent economic research are converging on a common path regarding military policy and increasingly centrally planned industrial management. A return to market principles seems like a fairy tale in circles of German economists—no one believes anymore in the curative power of freedom from climate diktats, overregulation, and fiscal burdens.

According to Schularick, politics should implement a top-level arms coordinator to manage investment funds in response to the Russian threat. Perhaps he envisions himself in this role? After all, over €500 billion in defense investments are planned by the end of the decade to reduce security dependence on the U.S.

Production Capacity Shortfalls 

Schularick criticized the extremely slow pace of ramping up arms production. Since the war began four years ago, nothing has been done to significantly increase production capacity.

“How many Taurus missiles are finished per month? Not even a handful,” he laments. A clear industrial policy deficit, he concludes.

Here, the new spirit of German economic “academia” emerges: everything revolves around the much-praised global steering, an active industrial policy now pursued by Brussels and Berlin, dangerously fed by state-aligned research.

What was long predicted with three-quarter conviction now seems to be happening. Central planners, including Schularick, apparently assume they can repurpose idle German industrial capacity for the defense sector. Civil car production, in their view, can easily be converted into tank production. Besides producing goods private households do not demand, this creates yet another subsidy-dependent industry, consuming resources from civilian production and artificially raising civilian costs.

Germany’s “Rediscovered” Work Ethic in War Mode 

Schularick grows euphoric about the promising future of the war economy, astonishingly rediscovering a work ethic long absent in Germany. He notes production is still mostly single-shift, five days a week. Implicitly, we learn, these are the jobs of Germany’s economic future.

No one seems to think about what should be produced in the coming years to avoid empty shelves after just three weeks in a potential conflict. It’s not just about armored vehicles but also future technologies like autonomous systems, satellites, AI, or robotics, Schularick adds. Everywhere, German industry has fallen behind.

Where does this competitive disadvantage come from, the central planner wonders? Perhaps from German policy and the Brussels bureaucratic apparatus acting as internal antagonists?

The interview highlights the widening gap between economic reality and the hermetically sealed ivory tower of politics, state-backed research, and sympathetic media, which promote this massive economic mismanagement while failing to critically assess Russia’s actual military strength, which is not capable of a continental invasion.

We’ve seen this playbook during the COVID era: once set in motion, the state-affiliated media machine drives narratives across newspapers, radio, and social media bot armies, suppressing open discourse. Stories of Russian occupation are defended in apocalyptic tones, wearing the public down.

The Central Planners’ Dreamworld 

How do technocrats like Schularick, Merz, or von der Leyen envision converting production lines to military goods in practice? Beyond financing, there’s the question of knowledge transfer. Do blueprints come from the Internet or Boris Pistorius’ ministry?

The knowledge transfer required to build a centrally planned war economy from civilian industry is immense and time-consuming. Even after decades of bitter experience with green transformation—which only drove capital out of Germany—political learning curves remain negative.

Was this the goal? Ironically: to push industry into a corner with climate policies until it falters, then fill freed capacities with arms production?

Beyond the failed climate subsidy business emerges a new extraction pillar: the European defense sector. Whether this experiment can withstand real-world economic conditions—falling productivity, rising debt—is doubtful. Central planners like Schularick will surely have an explanation: they were blocked by forces opposed to European integration, joint war economy, and Brussels debt accumulation.

The Illusion of Central Planning 

No deep economic expertise is needed to see that militarization is doomed to fail. A brief glance at 20th-century history is enough. Beyond massive resource mismanagement, there are issues of national sovereignty, divergent EU geopolitical interests, and a divided Union—especially an Eastern bloc wary of conflict with Russia.

That even economists like Schularick succumb to the lure of powerful central planning shows they are not immune to personal vanity. Surely, they hope their institutes benefit—perhaps with a ministerial-level position as arms coordinator. Who knows which job descriptions are already circulating in Berlin and Brussels.

It is tragic, yet the motto everywhere seems to be: “After us, the flood.”

* * * 

About the author: Thomas Kolbe is a Germany graduate economist. For over 25 years, he has worked as a journalist and media producer for clients from various industries and business associations. As a publicist, he focuses on economic processes and observes geopolitical events from the perspective of the capital markets. His publications follow a philosophy that focuses on the individual and their right to self-determination.

Tyler Durden Sat, 01/10/2026 - 08:10

Alaskans Spend The Most (Per Capita) On Alcohol, Utah (Surprise) The Least

Alaskans Spend The Most (Per Capita) On Alcohol, Utah (Surprise) The Least

Alcohol consumption patterns in the U.S. vary sharply depending on where people live.

Cultural norms, climate, income levels, and access to services all shape how much residents spend on alcoholic beverages. This visualization, via Visual Capitalist's Bruno Venditti, maps alcohol spending per adult across all 50 states.

The data comes from SmartAsset.

Alaska Leads by a Wide Margin

Alaska ranks first, with adults spending nearly $1,250 on alcohol in 2024.

The state’s top position is often linked to isolation, harsh weather conditions, and limited access to healthcare and addiction services. Higher prices due to transportation costs also push up total spending.

Rank State Alcohol spending (2024) 1 Alaska $1,249.76 2 Wyoming $1,237.84 3 Colorado $1,202.45 4 Massachusetts $1,185.54 5 Rhode Island $1,155.82 6 New Hampshire $1,119.73 7 Oregon $1,104.87 8 Hawaii $1,095.34 9 Washington $1,070.99 10 Montana $1,051.01 11 Vermont $1,039.04 12 New Jersey $1,037.31 13 Virginia $1,019.08 14 California $1,001.37 15 New Mexico $994.06 16 Maine $985.08 17 Texas $972.04 18 Florida $959.37 19 Minnesota $954.14 20 Nevada $949.91 21 North Carolina $943.46 22 Georgia $943.08 23 Arizona $881.96 24 Connecticut $875.41 25 South Carolina $838.57 26 Missouri $835.55 27 Arkansas $834.54 28 Maryland $825.88 29 North Dakota $822.97 30 Louisiana $805.73 31 Michigan $805.06 32 South Dakota $804.83 33 New York $804.53 34 Iowa $801.79 35 Delaware $800.65 36 Kansas $800.42 37 Nebraska $795.17 38 Wisconsin $793.37 39 Pennsylvania $780.53 40 Illinois $774.28 41 Alabama $754.48 42 Indiana $750.66 43 Kentucky $736.76 44 Idaho $731.29 45 Ohio $704.12 46 Tennessee $693.70 47 Oklahoma $690.82 48 Mississippi $641.12 49 West Virginia $616.81 50 Utah $606.42 -- State Average $897.57

Wyoming and Colorado follow Alaska closely, both exceeding $1,200 per adult.

Regional Alcohol Spending Trends

Many of the highest-spending states cluster in the West and Northeast. Massachusetts, Rhode Island, and New Hampshire rank in the top 10, alongside Oregon and Washington.

At the other end of the spectrum, Utah reports the lowest alcohol spending per adult at just over $600. A large religious population and stricter alcohol regulations help keep consumption and spending well below the national average.

Several Southern and Midwestern states, including West Virginia, Mississippi, Tennessee, and Oklahoma, also fall near the bottom of the rankings. Cultural attitudes, stricter alcohol regulations, and lower average incomes all help explain these patterns.

If you enjoyed today’s post, check out Mapping Incarceration Rates Across the U.S. on Voronoi, the new app from Visual Capitalist.

Tyler Durden Sat, 01/10/2026 - 07:35

Russia On Paris Ukraine Summit: Western 'Peacekeeping' Troops Would Be "Legitimate Combat Targets"

Russia On Paris Ukraine Summit: Western 'Peacekeeping' Troops Would Be "Legitimate Combat Targets"

Authored by Dave DeCamp via AntiWar.com,

The Russian Foreign Ministry on Thursday repeated its long-standing objection to troops from NATO countries deploying to Ukrainian territory as part of a potential future peace deal, as Ukraine and its Western backers continue to push the idea.

"The Russian Ministry of Foreign Affairs warns that the deployment of military units, military facilities, warehouses, and other infrastructure of Western countries on Ukrainian territory will be classified as foreign intervention, posing a direct threat to the security of not only Russia but also other European countries," Russian Foreign Ministry spokeswoman Maria Zakharova said.

Zelensky, Macron, and Starmer sign the ‘declaration of intent’ in Paris on January 6. Source: Office of Ukrainian president.

"All such units and facilities will be considered legitimate combat targets of the Russian Armed Forces," Zakharova added. Her statement came after the UK and France signed a "declaration of intent" committing to lead a troop deployment to Ukraine.

British Prime Minister Keir Starmer said the declaration "paves the way for the legal framework, under which British, French and partner forces could operate on Ukrainian soil," though the document is lacking in details on what the force would actually look like.

The declaration was signed after Starmer and French President Emmanuel Macron met with Ukrainian President Volodymyr Zelensky during a gathering of the so-called "coalition of the willing," referring to the countries willing to send troops to Ukraine. US envoy Steve Witkoff and President Trump’s son-in-law, Jared Kushner, also attended the meeting.

While the US hasn’t committed to sending troops, it has signaled its willingness to provide air support and other types of assistance for European troops in Ukraine.

Zelensky’s office said in a statement on the coalition of the willing gathering that Ukraine "values the United States’ readiness to support forces tasked with preventing a recurrence of Russian aggression."

Meanwhile some rare EU voices are belatedly urging more muscular diplomacy and not confrontation:

The insistence on a Western troops deployment to Ukraine, the US willingness to provide a "NATO-style" security guarantee for the country, and Zelensky’s refusal to cede any territory to Russia make the chances of a peace deal being reached extremely unlikely.

Tyler Durden Sat, 01/10/2026 - 07:00

How A Techno-Optimist Became A Grave Skeptic

How A Techno-Optimist Became A Grave Skeptic

Authored by Roger Bate via the Brownstone Institute,

Before Covid, I would have described myself as a technological optimist. New technologies almost always arrive amid exaggerated fears. Railways were supposed to cause mental breakdowns, bicycles were thought to make women infertile or insane, and early electricity was blamed for everything from moral decay to physical collapse. Over time, these anxieties faded, societies adapted, and living standards rose. The pattern was familiar enough that artificial intelligence seemed likely to follow it: disruptive, sometimes misused, but ultimately manageable.

The Covid years unsettled that confidence—not because technology failed, but because institutions did.

Across much of the world, governments and expert bodies responded to uncertainty with unprecedented social and biomedical interventions, justified by worst-case models and enforced with remarkable certainty. Competing hypotheses were marginalized rather than debated. Emergency measures hardened into long-term policy. When evidence shifted, admissions of error were rare, and accountability rarer still. The experience exposed a deeper problem than any single policy mistake: modern institutions appear poorly equipped to manage uncertainty without overreach.

That lesson now weighs heavily on debates over artificial intelligence.

The AI Risk Divide

Broadly speaking, concern about advanced AI falls into two camps. One group—associated with thinkers like Eliezer Yudkowsky and Nate Soares—argues that sufficiently advanced AI is catastrophically dangerous by default. In their deliberately stark formulation, If Anyone Builds It, Everyone Dies, the problem is not bad intentions but incentives: competition ensures someone will cut corners, and once a system escapes meaningful control, intentions no longer matter.

A second camp, including figures such as Stuart Russell, Nick Bostrom, and Max Tegmark, also takes AI risk seriously but is more optimistic that alignment, careful governance, and gradual deployment can keep systems under human control.

Despite their differences, both camps converge on one conclusion: unconstrained AI development is dangerous, and some form of oversight, coordination, or restraint is necessary. Where they diverge is on feasibility and urgency. What is rarely examined, however, is whether the institutions expected to provide that restraint are themselves fit for the role.

Covid suggests reason for doubt.

Covid was not merely a public-health crisis; it was a live experiment in expert-driven governance under uncertainty. Faced with incomplete data, authorities repeatedly chose maximal interventions justified by speculative harms. Dissent was often treated as a moral failing rather than a scientific necessity. Policies were defended not through transparent cost-benefit analysis but through appeals to authority and fear of hypothetical futures.

This pattern matters because it reveals how modern institutions behave when stakes are framed as existential. Incentives shift toward decisiveness, narrative control, and moral certainty. Error correction becomes reputationally costly. Precaution stops being a tool and becomes a doctrine.

The lesson is not that experts are uniquely flawed. It is that institutions reward overconfidence far more reliably than humility, especially when politics, funding, and public fear align. Once extraordinary powers are claimed in the name of safety, they are rarely surrendered willingly.

These are precisely the dynamics now visible in discussions of AI oversight.

The “What if” Machine

A recurring justification for expansive state intervention is the hypothetical bad actor: What if a terrorist builds this? What if a rogue state does that? From that premise flows the argument that governments must act pre-emptively, at scale, and often in secrecy, to prevent catastrophe.

During Covid, similar logic justified sweeping biomedical research agendas, emergency authorizations, and social controls. The reasoning was circular: because something dangerous might happen, the state must take extraordinary action now—action that itself carried significant, poorly understood risks.

AI governance is increasingly framed in the same way. The danger is not only that AI systems might behave unpredictably, but that fear of that possibility will legitimize permanent emergency governance—centralized control over computation, research, and information flows—on the grounds that there is no alternative.

Private Risk, Public Risk

One underappreciated distinction in these debates is between risks generated by private actors and risks generated by state authority. Private firms are constrained—imperfectly, but meaningfully—by liability, competition, reputation, and market discipline. These constraints do not eliminate harm, but they create feedback loops.

Governments operate differently. When states act in the name of catastrophic prevention, feedback weakens. Failures can be reclassified as necessities. Costs can be externalized. Secrecy can be justified by security. Hypothetical future harms become policy levers in the present.

Several AI thinkers implicitly acknowledge this. Bostrom has warned about “lock-in” effects—not just from AI systems, but from governance structures created during moments of panic. Anthony Aguirre’s call for global restraint, while logically coherent, relies on international coordination bodies whose recent track record on humility and error correction is poor. Even more moderate proposals assume regulators capable of resisting politicization and mission creep.

Covid gives us little reason to be confident in that assumption.

The Oversight Paradox

This leads to a troubling paradox at the heart of the AI debate. If one genuinely believes advanced AI must be constrained, slowed, or halted, it is governments and transnational institutions that are most likely to hold the power to do so. Yet these are precisely the actors whose recent behavior gives the least confidence in restrained, reversible use of that power.

Emergency framing is sticky. Authority acquired to manage hypothetical risks tends to persist and expand. Institutions rarely downgrade their own importance. In the AI context, this raises the possibility that the response to AI risk entrenches brittle, politicized systems of control that are harder to unwind than any individual technology.

The danger, in other words, is not only that AI escapes human control, but that fear of AI accelerates the concentration of authority in institutions already shown to be slow to admit error and hostile to dissent.

Rethinking the Real Risk

This is not an argument for complacency about AI, nor a denial that powerful technologies can do real harm. It is an argument for broadening the frame. Institutional failure is itself an existential variable. A system that assumes benevolent, self-correcting governance is no safer than one that assumes benevolent, aligned superintelligence.

Before Covid, it was reasonable to attribute most technological pessimism to human negativity bias—the tendency to believe that our generation’s challenges are uniquely unmanageable. After Covid, skepticism looks less like bias and more like experience.

The central question in the AI debate is therefore not just whether machines can be aligned with human values, but whether modern institutions can be trusted to manage uncertainty without amplifying it. If that trust has eroded—and Covid suggests it has—then calls for expansive AI oversight deserve at least as much scrutiny as claims of technological inevitability.

The greatest risk may not be that AI becomes too powerful, but that fear of that possibility justifies forms of control we later discover are far harder to live with—or escape.

Roger Bate is a Brownstone Fellow, Senior Fellow at the International Center for Law and Economics (Jan 2023-present), Board member of Africa Fighting Malaria (September 2000-present), and Fellow at the Institute of Economic Affairs (January 2000-present).

Tyler Durden Fri, 01/09/2026 - 23:00

Visualizing All Of The World's Silver Reserves By Country

Visualizing All Of The World's Silver Reserves By Country

Silver prices surged to new all-time highs in December, extending a powerful end-of-year rally supported by geopolitical uncertainty and a weaker U.S. dollar.

Silver futures briefly touched around $80, marking an unprecedented 160% rally in 2025 that outpaced even gold. Against this backdrop, Visual Capitalists Bruno Venditti notes that understanding where the world’s silver reserves are concentrated provides crucial context for future supply dynamics.

The data for this visualization comes from the U.S. Geological Survey’s Mineral Commodity Summaries (January 2025). It estimates total global silver reserves at about 641,400 metric tons.

Peru’s Dominant Reserve Position

Peru stands out as the single largest holder of silver reserves, with an estimated 140,000 metric tons. This represents roughly 22% of the global total, giving the country a uniquely strategic position in the silver market.

Behind Peru is a cluster of countries with substantial, but smaller, reserve bases. Australia, Russia, and China each hold between 70,000 and 94,000 metric tons, collectively accounting for about 40% of global reserves.

Production Powerhouses vs. Reserve Depth

Mexico offers a striking contrast between production and reserves. It leads the world in silver production, yet holds just 37,000 metric tons of reserves, or about 6% of the global total. Currently, Mexico’s mining sector relies on intensive extraction with fewer projects with established reserves in the pipeline.

Silver in Green Technology

Global silver demand is poised to soar in the next decade, driven by emerging technologies like electric vehicles and solar power.

Silver demand from solar alone has grown from less than 50 million ounces (Moz) a decade ago to an expected 160 Moz in 2023.

If you enjoyed today’s post, check out Mapped: Which Countries Hold the Most Gold Reserves? on Voronoi, the new app from Visual Capitalist.

Tyler Durden Fri, 01/09/2026 - 22:30

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