Zero Hedge

Arizona, California Score Separate Court Wins Over Election Rules

Arizona, California Score Separate Court Wins Over Election Rules

Authored by Bill Pan via The Epoch Times,

Election officials in Arizona and California won separate court victories Friday in disputes over voting rules, with a federal appeals court upholding key provisions of an Arizona voter-registration law and a California judge temporarily blocking a local election overhaul.

Arizona Voter Registration Law

In Arizona, an 11-judge en banc panel of the U.S. Court of Appeals for the Ninth Circuit unanimously ruled that voting rights organizations lacked standing to challenge two provisions that dictate how counties should maintain their voter rolls.

The Arizona law, enacted in 2022 as Senate Bill 1260, requires county recorders to cancel a voter’s registration after receiving confirmation from another county that the person has moved and registered there. Another provision makes it a felony to knowingly provide a “mechanism for voting” to someone registered in another state.

The Arizona Alliance for Retired Americans, Voto Latino, and Priorities USA sued the Arizona attorney general, secretary of state, and the state’s 15 county recorders in 2022, arguing that portions of the law violated federal voting law and constitutional protections.

The groups argued, among other things, that the cancellation provision could improperly remove eligible voters from the rolls and that the felony provision was vague enough to expose organizations conducting voter registration and education activities to prosecution.

A federal district court initially issued a preliminary injunction blocking the cancellation and felony provisions. A three-judge Ninth Circuit panel later reversed that order, finding that the organizations lacked standing to challenge the cancellation provision and were unlikely to prevail in their challenge to the felony provision.

The plaintiffs successfully sought review by the full court, but Friday’s en banc ruling reached the same conclusion.

The groups argued that they were forced to spend extra time and resources educating voters about the law and helping them cancel prior registrations. The court, however, concluded that this did not count as a concrete injury needed to prove standing.

“Because the organizations have not clearly shown that the cancellation provision affects or interferes with their voter-registration and voter-education efforts, they have not established an injury-in-fact,” U.S. Circuit Judge Anthony D. Johnstone wrote for the court.

The court also rejected the organizations’ request to block the felony provision pending the litigation.

“Although the stand-alone phrase ‘mechanism for voting’ arguably encompasses voter registration and education, the full text and statutory context of the Felony Provision show that it likely does not criminalize those activities,” Johnstone wrote.

California Court Blocks County Measure

Also on Friday, a California judge temporarily blocked Shasta County from implementing a voter-approved measure that would dramatically change how elections are conducted in the Northern California county.

Measure B, approved by about 56 percent of voters in June, would require government-issued photo identification for voter registration and in-person voting, restrict vote-by-mail and early voting, require ballots to be counted by hand, and establish a county voter-registration system separate from California’s statewide system.

California Attorney General Rob Bonta and Secretary of State Shirley Weber sued to block the measure, arguing that Shasta County’s status as a charter county does not mean it can adopt its own election rules conflicting with those of the state.

State officials had sought an expedited ruling, since election preparations were already underway for November and the county’s 116,000 registered voters needed certainty about how they would cast their ballots.

On Friday, Shasta County Superior Court Judge Benjamin Hanna sided with the state in granting the preliminary injunction, meaning the county will conduct the Nov. 3 general election under existing California election laws while the lawsuit proceeds.

A Shasta County official confirmed that the measure’s provisions would not be implemented unless the court issues another order.

“Following a preliminary injunction by the Shasta County Superior Court regarding a proposed amendment to the Shasta County Charter titled, Measure B, Voter ID, Hand-Counted Ballots, and Absentee Voting Limits Initiative, the election and voting policies described in Measure B will not be implemented for the November 3, 2026, General Election, unless further order of the court,” the county said in a statement.

Bonta welcomed the decision, saying it would provide clarity for voters ahead of the election.

“Today’s ruling prevents Measure B from taking effect while our litigation proceeds, providing certainty that the November election will be conducted under California’s established election laws,” he said. “We will continue fighting to permanently strike down the measure.”

Tyler Durden Sun, 08/09/2026 - 21:00

Your Tax Dollars At Work: 20 Port Authority Workers, 17 Cops, Make Over $400,000

Your Tax Dollars At Work: 20 Port Authority Workers, 17 Cops, Make Over $400,000

Apparently, one of the best ways to make $400,000 a year in the New York area is to work for the Port Authority, according to the NY Post.

Twenty Port Authority employees, including 17 cops, cleared $400,000 in total compensation last year as the agency's payroll sailed past $1.2 billion. And much of the magic came from everyone's favorite government money fountain: overtime.

According to payroll data obtained by the Empire Center for Public Policy, 323 employees collected at least $100,000 in overtime alone. Of those, 189 were Port Authority cops. Eight top earners managed to rack up more than $200,000 each in OT. Police Lt. Nicholas Federico won the unofficial jackpot. His $180,691 base salary came with another $215,717 in overtime, helping push his total compensation, including benefits, to $466,775.

Detective sergeants Dewan Maharaj and Robert Zafonte Jr. weren't exactly eating ramen either. Both finished around $448,600, with Maharaj collecting nearly $148,000 in overtime and Zafonte adding about $139,000. The NY Post writes that the overtime crown belonged to chief maintenance supervisor Reginald Bowers, who piled up $231,916 in OT and finished with $421,041 in total compensation.

Chart: New York Post

And this wasn't just a few employees discovering the cheat code.

Of the Port Authority's 8,356 workers, 5,711 received overtime last year. That's 68% of the workforce. Altogether, overtime cost the agency $196 million, representing about 16% of its entire payroll.

Port Authority police accounted for $85 million of that OT bill. The agency's 1,968 cops averaged $184,949 in pay, while 68 of its 100 highest-paid employees worked in the Police Department.

Perhaps the funniest comparison is at the top. Richard Cotton, who was actually running the Port Authority before retiring in January, earned $327,918. Ninety-four people working underneath him made more.

The Empire Center says taxpayers may get the privilege of paying for all of this more than once.

“Taxpayers are getting fleeced twice,” President Zilvinas Silenas said, arguing that taxpayers first fund the salaries and overtime and can later get stuck with pension costs influenced by those earnings. He also warned that rising payroll expenses could eventually show up in higher tolls and fees.

Which would be particularly charming considering those are already going up. The Port Authority raised bridge and tunnel tolls 3% in January while eliminating some off-peak E-ZPass discounts. PATH fares have also increased, with more hikes scheduled in the coming years.

The agency says the compensation reflects the enormous security demands involved in protecting airports, bridges, tunnels, rail systems and other critical infrastructure.

“Keeping the people we serve safe is non-negotiable and our highest priority,” spokesman Seth Stein said, noting that many Port Authority facilities remain potential terrorism targets. The agency also pointed out that it has added hundreds of police officers in recent years and said average police overtime actually declined 9% between 2024 and 2025.

So yes, overtime is apparently improving. It just happens to be improving at a place where hundreds of employees are still making six figures in overtime and 20 workers are clearing $400,000. Progress.

Tyler Durden Sun, 08/09/2026 - 20:25

No Hikes For You

No Hikes For You

By Peter Tchir of Academy Securities

Much of the country is facing extreme heat and humidity this weekend. It makes it difficult to read and get ready for the week, let alone write something for this week, so we will keep this one short and focus on charts.

The markets started and ended the week with a bang. We continue to keep a close eye on the stocks and sectors most affected by Situational UnAwareness (last weekend’s T-Report). The Nasdaq 100 had an insanely strong Tuesday, gave up some gains Wednesday and Thursday, only to claw back those gains on Friday, primarily after the weak employment report hit the tape (Houston We Have a Data Problem). At what point will we spend the money to totally revamp how we collect and process data? “Surveys” seem incredibly “old school” when so much real-time information is available. We will see if the worst is behind us on the AI spend story.

  • We continue to like buying the bonds being issued to fund data centers and AI. We’ve been writing about this with increasing frequency. It was almost amazing to see Alphabet do such a massive bond deal on a Thursday in August. The size of the order book is indicative of how prepared the market is to absorb the expected supply, which is why I think the surprise will be for a rapid move tighter than ongoing weakness (all we need is one company to discuss potentially slowing their spend given all the hurdles we have been writing about for the past few weeks).

We touched on a lot of these issues on Bloomberg TV on Thursday, in case you prefer to watch/listen, rather than read (our segment starts at the 1 hour 43 minute mark).

No Hikes For You

According to the Bloomberg WIRP function, the market went from pricing in a full hike in September, as recently as July 24th, and is now back below a 50% chance (which I think is still too high).

  • JOLTS was mixed. The employment component of ISM Services was below 50. ADP was better than NFP but left a lot to be desired (44k jobs). It is reasonable for the Fed to question the strength of the job market.
  • Inflation. Let’s examine Truflation a bit more closely.

We include “frozen” which is the time series as originally published with no attempt to revise it as more information is available. The “unfrozen” version is effectively a “revised” time series.

The pink line is 2.49%, because 2.49% rounds down to 2% if we are using only whole numbers (that may seem like “cheating” but I think Warsh, in particular, thinks more “in the vicinity” of 2% rather than 2.0%).

The beauty of this data is that it makes sense to me. Just a quick glance at this data seems to “jive” with what we’ve been experiencing (and notice it is all below 2.49%).

In this chart we explore the difference between Truflation and CPI.

Truflation was much higher for 2021 and 2022 than CPI. Honestly, that seems correct! While the barbaric way in which shelter is calculated for CPI played a big part, it is not entirely to blame. Now CPI is higher than Truflation. Why? Because maybe it is just catching up? Imagine if the Fed was focused on Truflation rather than CPI in 2021 and 2022. Would they have hiked sooner? Would they have continued with QE as long as they did? We will never know, but treating CPI as a “gold” standard and dismissing metrics like Truflation seems nonsensical to me.

This is also why I’d argue that we have an “affordability” issue more than an “inflation” issue. The problem isn’t so much in today’s price moves, it is that the price moves we were hit with back in 2021 and 2022 were not properly reflected in the data! (Yes, this is a hill I’m prepared to defend). Not saying Truflation is perfect by any stretch of the imagination, but it is pretty easy to see a policy path that is very different than the one we’ve taken if they looked at more types of data.

I’ve always thought the Fed liked core PCE as their favorite metric, because it was almost always below 2%! It was “convenient” that their “preferred” metric was never above 2%. Literally, from 2008 to 2020 it was almost never above 2%. Maybe I’m being a bit too cynical, but I think the Fed liked to point to this measure because it gave them the flexibility to be more dovish, rather than because it was so much more useful, relevant, and accurate than other bits of inflation data we get.

If you can agree that other data might tell a good story and that this pedestal that Core PCE has been set upon doesn’t make sense, then maybe we should be cutting? It isn’t like Truflation Core is “always” below PCE (which is why we put in the nice green oval), but it is certainly much lower now! And the rate of decline (inflation) actually makes more sense to me than the PCE numbers. The large price shocks are behind us in the real world, but unfortunately they are still appearing in the data world the “old Fed” looked at. I am pretty sure I still have a HP-12C lying around (anyone on Wall Street from the last century knows how ubiquitous they were on trading desks), but I cannot remember the last time I thought about using it!

Warsh was basically put in charge to cut. He will deal with the hand he has been dealt (the renewed conflict in Iran isn’t helping), but his bias is to cut, not hike.

While it is unclear where we stand in Iran at the moment, it seems like we are on the verge of getting some sort of agreement between Oman and Iran to re-open the Strait in some capacity. It seems as though they are negotiating something that will be agreed to by the U.S.? It all seems a bit weird, and goes against the military successes, but it seems to be headed in that direction. If the Strait is opened AND the US encourages Iranian oil sales (like we did at the start of the MOU) then Warsh’s job of steering the Fed to a cut gets a lot easier (and the hawks may have to change their tune rapidly).

Bottom Line

The long end of the yield curve is likely to remain under some pressure as the global supply of sovereign and corporate debt continues to soar.

The front end will start pricing out fewer hikes. Probably far too early to price in cuts, but the hiking story is crowded, and I think wrong. It will require more people to break years of tradition and base decisions on the same set of data, regardless of being aware of the inherent flaws in the data!

Credit spreads should do well, though I like the AI/Data Center plays even more on an all-in yield basis than just spread. It is cheap and positioning has corrected itself to where the move to tighter spreads/lower yields seems to be the more likely path.

With chatter of investors looking to put money into the hands of the fund manager that ran Situational Awareness, those sectors could do well. I’m neutral there, as I think there is another round of AI “doubt” creeping into the narrative which will hurt valuations (while supporting the credit side of the story).

On the rest of the equity markets, I’m biased towards ProSec globally. Across the globe, energy, electricity production, smelting, processing, and refining will do well. I’m both surprised and happy that Australia committed to its first new refinery in 60 years! Each country (or region) will need to prioritize their efforts, but we see this happening.

  • Look for the government wallet to be used to direct these developments and projects. Not just by direct involvement in projects (which will happen) but also by putting conditions on what the government will buy, to the extent that it makes projects economical, where they otherwise wouldn’t be. Low cost is taking a back seat to National Security – globally!
  • The ProSec Hierarchy will vary across the globe. Some regions will need to focus on food and water. Others (Europe) will need to focus on military production. (I’d create an Airbus for Drones if I were Europe). Chips, AI, and compute will need to be prioritized. (I’m increasingly concerned that there is a danger of Cheap China Compute hitting us far sooner and harder than we’d previously thought!).
    • The President “kicked the hornet’s nest” on global supply chains. The intention was clearly to grow U.S. exports. That can happen, but increasingly, there is a “domestic” intent globally, providing a real opportunity in other markets that embrace that mantra!

With weather forecasts sounding right up Adrian Cronauer’s alley, it seems like a good time to conclude with the most useful advice I can give - Stay Cool My Friends!

Tyler Durden Sun, 08/09/2026 - 19:50

Watch: 'Privileged Idiot' DSA Co-Chair Has Absolute Porridge For Brains

Watch: 'Privileged Idiot' DSA Co-Chair Has Absolute Porridge For Brains

The Democrat party has been freaking out about the Democratic Socialists of late - despite striking similarities between their policies - because while Democrats are happy to sweet talk voters into socialist ideas that signal maximum virtue, they don't actually want to enact policies that would make blue-city budgets even more dire than they are. 

In short, the party is panicking because the voters they radicalized are electing radicals... 

So what better way to let progressives see what they're voting for? Trot out a co-chair of the DSA with maybe two brain cells to rub together, ask her simple questions, and watch her implode. 

Megan Rromer 'Velociraptor Claw', Screenshot via Stephen Miller 

To wit: co-chair Megan Romer was given a softball interview by New Yorker editor David Remnick, in which he asked Romer "What does ‘taxing the hell out of them’ mean?" in regards to a core DSA position of 'taxing the rich.'

Romer stumbled hard... 

Romer: Uh, yeah, you know, again, I don’t have like a solid…

Remnick: But shouldn’t you? If you’re the co-chair of the DSA, shouldn’t you be more specific than ‘taxing the hell’ out of something? What exactly do you mean?

Romer: Um, that’s a good question. "So again, it’s democracy, right? And we have to look at what we have to spend and what we need. We don’t want to depend on the existence of millionaires because that means people are still getting exploited."

Watch:

"They went to campus and had their heads filled with junk and have never been challenged on any of this for their entire life, by anyone," said commentator Stephen Miller, adding "An entire generation of privileged idiots."

Romer was then asked about open borders - and once again, cogent answers left the chat...

She was also asked the very loaded question about whether DSA believes Israel 'has a right to exist.' 

And instead of something about how Palestinians also have a right to exist, asymmetric warfare, or Israel using the US to fight a proxy war in Iran based on decades of being 'two weeks away' from a nuke - Romer once again failed to formulate anything resembling a response one might expect from a DSA honcho (or not, nevermind). 

Just wow...

Tyler Durden Sun, 08/09/2026 - 19:15

Don Lemon Seeks Dismissal Of Federal Charges Over Minnesota Church Protest

Don Lemon Seeks Dismissal Of Federal Charges Over Minnesota Church Protest

Authored by Savannah Hulsey Pointer via The Epoch Times,

Former CNN host Don Lemon has asked a federal judge to dismiss the charges brought against him in connection with an anti-immigration enforcement protest at a Minnesota church.

The January protest against Immigration and Customs Enforcement (ICE) operations interrupted a worship service at the church. Lemon, who was charged with violating federal civil rights laws, argued that he was not participating in the protest but was there only to document the events.

Lemon’s attorneys filed a motion on Aug. 7 claiming the indictment against their client was the result of “vindictive prosecution.” The filing called the charges “flagrant and blatant efforts to punish a journalist for his protected conduct warrant further discovery into the government’s motive and an evidentiary hearing.”

They cited President Donald Trump’s previous negative comments about Lemon as evidence of bias.

On Jan. 18, Lemon attended a protest at Minneapolis Cities Church at the height of ICE action in Minneapolis. He was arrested by federal agents in Los Angeles on Jan. 29.

He and eight other defendants were charged with one count of “conspiracy against the right of religious freedom at a place of worship” under 18 U.S. Code § 241 in February of this year.

The defendants are also charged with one count of injuring, intimidating, or interfering with the right of religious freedom at a place of worship under 18 USC § 248.

Together, the charges carry a fine of up to $20,000 and a maximum of 10 1/2 years in prison.

Lemon pled not guilty in February, denying any wrongdoing. The YouTube creator argued that the protests were an exercise of the demonstrators’ federally protected rights and were not in violation of any laws.

Federal prosecutors announced in early June that dozens of anti-immigration enforcement protesters who interrupted the Minnesota church service will not face state criminal charges.

However, the Department of Justice (DOJ) is continuing to pursue criminal civil rights charges against 39 people, including Lemon.

Footage of the event shows demonstrators in the aisles, chanting anti-ICE slogans, and the indictment alleges they hindered those in the church from exiting, even allegedly harassing children.

Demonstrators were seen chanting “Justice for Renee Good,” referring to a woman fatally shot by federal agents in connection with anti-ICE protests.

The DOJ eventually charged dozens in connection with the church protest. St. Paul City Attorney Irene Kao commented on the decision not to charge some of the protesters, saying a review of the footage and other evidence available to criminal prosecutors caused her office to determine that not all those involved should be prosecuted under Minnesota statutes.

“Current evidence is insufficient to meet that standard for criminal charges under Minnesota state statutes,” Kao said, adding that the decision not to prosecute “should not be interpreted as an endorsement of unlawful behavior or public disorder.”

The decision not to charge some of the protesters was criticized by one of the pastors of the church where the protest took place.

“According to the St. Paul City Attorney’s logic, it is perfectly fine for agitators to invade a mosque, a cathedral, or a temple, intimidate the families and children inside, and shut down their religious gathering. Just call it a ‘protest,’” Cities Church lead pastor Jonathan Parnell said in a statement.

Lemon’s livestream was at the center of the investigation, and Assistant Attorney General Harmeet Dhillon responded to the video on X, quoting Lemon, saying that a house of worship isn’t a forum for public protest.

“It is a space protected from exactly such acts by federal criminal and civil laws!” Dhillon, who leads the Office of Civil Rights, said in a Jan. 18 post. “You are on notice!”

The DOJ did not immediately respond to The Epoch Times’ request for comment.

Tyler Durden Sun, 08/09/2026 - 18:40

Harris Renews Calls To Pack The Court Despite Poll Showing Most Americans Agree With Its Decisions

Harris Renews Calls To Pack The Court Despite Poll Showing Most Americans Agree With Its Decisions

Authored by Jonathan Turley,

Kamala Harris is again promising the radical wing of her party that she will pack the Supreme Court. Pete Buttigieg and others have done the same to pander to the extreme left. These calls are increasing among Democratic leaders despite a recent poll showing that the Court remains the more popular institution vis-à-vis Congress, and that the majority of Americans agree with its major decisions.

The Marquette Law School poll shows that the Court remains slightly underwater in popularity (47% favor, 53% disfavor), but it is still much more popular than Congress or the two political parties. Moreover, that popularity is increasing, not decreasing, as a result of recent decisions. It was at 44% in 2025.

The mantra to pack the Court is premised on the false claim that the Court is ideologically robotic and partisan. That claim has always been disconnected from the actual voting record of the Court. Forty-four percent of cases are decided unanimously by the Supreme Court. When nearly unanimous cases (8-1 and 7-2) are included, that figure jumps to over 60 percent.

The liberal justices themselves have pushed back on the Democratic narrative. Justices Stephen Breyer, Elena Kagan, and Sonia Sotomayor have all contradicted these claims. Justice Kagan recently spoke publicly on these claims, “rejecting claims that the high court’s conservative majority is in President Donald Trump’s corner.”

The most recent poll shows that Americans agree with most of the major decisions in the last year.

The poll highlights a disconnect with the logic of court packers.

Sen. Elizabeth Warren (D., Mass.) has called for packing the Court because it does not follow her views and those of “widely held public opinion.”

I have pushed back on that rationale given the Court’s function to be a countermajoritarian institution. However, this poll even challenges the flawed rationale for court packing.

Even the most controversial decisions break at around fifty percent.

Notably, the opinion that Harris repeatedly denounces as an attack on democracy (barring racial gerrymandering) is supported by a majority of the country.

Yet, Democratic leaders and the far left continue the false claim that the Court is out-of-step with America and captured by the Administration. The reason is simple. The DSA and far left are threatening establishment candidates. They are throwing institutions such as the Supreme Court to the mob in an attempt to use them to regain power. It is not just tragic but pathetic. These establishment figures are unlikely to be safe from the mob. Hakeem Jeffries can call the Supreme Court “illegitimate” and brandish a baseball bat on social media, but the mob is still chanting “you’re next” when he appears on the screens at rallies.

For its part, the far left knows that the full agenda of changes that it wants to make to our constitutional system cannot occur without control of the Supreme Court. Law professors and deans are joining them in calling for the trashing of our Constitution and “radical changes” to our system. They will need control of the Court to achieve many of those changes.

So the American people may support the Court and favor its decisions, but it still needs to be packed with a liberal majority.

Harris and Buttigieg consider trashing the Supreme Court to be a small price to pay for their own election.

Tyler Durden Sun, 08/09/2026 - 17:30

"Lie To People Who Want To Be Lied To": How To Make A Political Fortune As A Far-Left Democrat

"Lie To People Who Want To Be Lied To": How To Make A Political Fortune As A Far-Left Democrat

Authored by Jonathan Turley,

A financial journalist once offered simple advice: “Lie to people who want to be lied to, and you’ll get rich…Tell the truth to those who want to be lied to, and you’ll go broke.”

That axiom appears to have been taken to heart by radical Democratic candidates who this week issued transparent denials of past outrageous comments. Their calculus is clearly that the last thing that voters want to hear is the truth about their past views.

Certain cultural touchstones are considered inviolate in some states, such as beef in Texas.

In 2022, Talarico said he was reducing his meat consumption as part of climate-related efforts.

Texas Democratic Senatorial candidate James Talarico was roasted after a video surfaced of his calling to reduce meat consumption and “I am proud to say that our campaign has officially become a non-meat campaign. We are only buying vegan products from our local vegan businesses.”

The backlash was so great that Talarico has been eating whole cows to prove that he is not all-hat and no cattle.

Obviously, lying about your positions is hardly a phenonmon confirmed to the far left.

Many Republican candidates have also made painfully transparent pivots. However, the spins this week threaten to knock the planet off its axis.

In Wisconsin, Democratic Socialist Francesca Hong seems to be coasting to a primary win despite radical views such as defunding police.

In an episode of “Pod Save America,” Hong was asked about her 2020 statements declaring “police exist to uphold white supremacy” and “I support defunding the police as a first step towards abolishing the police.”

Hong responded with a convoluted spin: 

“My views have only become stronger in that I’m serious about public safety and I will not abolish the police.”

Hong’s views on Thanksgiving takes the axiom to a whole new level. Hong previously stated:

“Cancel Thanksgiving. Should have done this in 1621. If it takes a worldwide pandemic for us to realize we should stop celebrating colonialism and the original superspreader event that killed Indigenous folx and women so be it.”

That did not go over well in Wisconsin, only slightly better than coming out against cheese.

Hong did not deny her 2021 statement for weeks, including when confronted on CNN by host Kaitlan Collins. Asked directly if she still hated Thanksgiving, Hong seemed to morph into Chauncy Gardner from Being There with her now much-ridiculed “I’m a chef” response, stating that, as a chef, she works to “bring more people to the table.”

Hong seemed to morph into Chauncey Gardner from Being There in offering non-sequiturs of being a “very serious gardener.”

When that interview fell flat, Hong decided to lie and claim that she was just joking in 2021 and “loves” Thanksgiving, her now “favorite holiday.”

No one reading her quote or her later interviews would believe that it was a joke. It was not a joke for weeks until her responses became a joke.

Abdul El-Sayed skipped the transitional period and went straight to the lie in his controversy this week when a video surfaced of his saying how he hates the iconic Mackinac Island. 

Growing up in Chicago, one of my favorite things was to go with my family to the island, which is the quintessential small American town. I actually have never met anyone who hated Mackinac Island…until now.

In the video, El-Sayed states “I hate Mackinac so much. It’s funny cause, like, if we win, this is gonna be, like, the summer home. Every time I’ve ever come here I’ve hated it.”

El-Sayed was clearly informed that declaring that you despise the most popular tourist location in Michigan is not a vote getter. So, El-Sayed simply told his supporters what they wanted to hear: you cannot believe your lying eyes and ears.

His campaign issued a bizarre statement that sought to turn the controversial into his being opposed to the elite and privileged class, saying that he was actually Mackinac Policy Conference which is simply an annual nonpartisan forum for public policy discussions.

El-Sayed claims that he was referring to conference as being like a summer home for governors. He maintains that he was referring to a conference as the entire island.

El-Sayed knows that it does not matter. He could have claimed that he was referring to hating Mackinac Island Pizza Company. It does not matter. His supporters do not want the baggage and he simply needed to unload it

With the election in November, the next predictable step will be for Hong to join El-Sayed on Mackinac Island for a public Thanksgiving dinner. Talarico will be on hand to carve the bird with enthusiasm.

The real problem is that these individuals spent years throwing red meat (or, in the case of Talarico, tofu) to the far left. These statements were not considered extreme or controversial until they found themselves speaking to a wider audience. Then they sounded just crazy.

Moreover, some lies are unlikely to register with voters who may prefer to live in delusion. The fact that the Mamdani markets will ultimately sell the most expensive produce in New York is an inconvenient fact that is best ignored.

The model for far-left politicians appears to be Virginia Gov. Abigail Spanberger who ran as a moderate and then governed from the far left. Spanberger, for example, pledged not to gerrymander districts to eliminate all Republican districts and then immediately moved to do so. Many voters likely did not believe her on gerrymandering, taxes, or other broken pledges before the election. They just needed her to say it. So, you might have to visit Mackinac or feign enjoyment at Thanksgiving or barbeques for a few weeks. Then you can do a Spanberger.

Abraham Lincoln may have said “You can fool some of the people all of the time, and all of the people some of the time, but you cannot fool all of the people all of the time.”

However, the fact is that you do not have to fool all of the people all of the time, just enough to win over the course of a few weeks.

Jonathan Turley is a law professor and the New York Times best-selling author of “Rage and the Republic: The Unfinished Story of the American Revolution.”

Tyler Durden Sun, 08/09/2026 - 16:20

Seattle Mayor Targets 'Surveillance Pricing' At Grocery Stores

Seattle Mayor Targets 'Surveillance Pricing' At Grocery Stores

Seattle leaders are moving forward with a first-of-its-kind proposal aimed at preventing grocery retailers from using consumers' personal data to charge different prices for the same products.

The ordinance, backed by Mayor Katie Wilson and City Councilmembers Alexis Mercedes Rinck and Dionne Foster, would prohibit large grocery chains from using information such as browsing history, social media activity, employment status, race, gender, or chatbot interactions to personalize prices, according to Wilson's website. 

Instead, retailers would be required to publicly display uniform prices while still allowing traditional discounts for seniors, veterans, loyalty programs, and other transparent promotions.

"This policy stops corporations from using personal data to squeeze more money out of shoppers," Wilson said. "The same product, in the same store, should cost the same no matter who's pushing the cart."

The announcement on Wilson's site says that the measure is designed to curb AI-driven price discrimination as grocery costs continue to rise. The proposal follows a Consumer Reports investigation that found Instacart tested AI pricing systems that charged different customers different prices for identical grocery items. It also comes after Washington's attorney general sued Albertsons over allegedly misleading "buy one, get one" promotions that did not actually reduce prices.

Councilmember Rinck argued the legislation would establish "guardrails" around how retailers use customer data, particularly as many households face higher food costs and reduced SNAP benefits. Foster added that consumers "shouldn't have to wonder whether they're being charged extra because of an algorithm."

Labor and privacy advocates also praised the proposal. UFCW 3000 President Faye Guenther accused grocery companies of pursuing "AI-powered surveillance pricing tech" to create "fake discounts," while privacy advocates said the ordinance would help prevent algorithmic price discrimination before the practice becomes widespread.

If approved, Seattle would become the first U.S. city to adopt rules specifically banning the use of sensitive personal data to set individualized grocery prices.

Tyler Durden Sun, 08/09/2026 - 13:25

UK Police Literally Have An 'Elite Squad' To Flag Spicy Social Media Posts...

UK Police Literally Have An 'Elite Squad' To Flag Spicy Social Media Posts...

Authored by Steve Watson via Modernity News,

Britain's latest free speech assault is underway.

An elite police unit set up by the Labour government has already flagged more than 100 social media posts to local forces, monitoring online "protest related activity" in a move critics brand a sinister step toward state control of speech.

The National Internet Intelligence Investigations team, created in the wake of the 2024 Southport riots, began operations in February. Freedom of Information figures obtained by the Telegraph and reported today show it has made 106 referrals of "suspicious" posts to forces across the country.

In June alone, 50 of those referrals came as public anger boiled over in Southampton after police bodycam footage exposed officers handcuffing dying teenage murder victim Henry Nowak while accepting a false complaint of 'racism' from his Sikh killer.

When the unit was first announced, then policing minister Dame Diana Johnson described it as "a dedicated function at a national level for exploiting internet intelligence to help local forces manage public safety threats and risks."

The National Police Coordination Centre claims the squad "supports policing's understanding of protest-related activity in the online environment by developing a broader picture of emerging, potential risks."

Its remit, officials say, focuses on "providing strategic insight and improving awareness of protest-related developments that may have relevance to policing."

Reform UK leader Nigel Farage commented "This is the beginning of the state controlling free speech. It is sinister, dangerous and must be fought."

Police have refused to disclose which posts were flagged, citing exemptions around crime prevention. The pattern is clear enough. The unit was born from the Southport disorder that followed the murders of three girls by Axel Rudakubana.

In the information vacuum, online discussion of the attacker's background and wider immigration failures was blamed for fanning unrest. Now the same apparatus is trained on any online activity that might signal public discontent with official narratives.

This new monitoring squad slots neatly alongside the Home Office's long-running Research, Information and Communications Unit - RICU - a shadowy "thought police" operation exposed for controlling the mass migration narrative. That unit has intervened after migrant attacks, including the Henry Nowak murder, to shape family statements, briefed police to portray protesters as unsympathetic thugs rather than citizens with grievances, and treated online criticism of immigration policy as a threat requiring behavioural change.

It also sits on top of a growing machinery of digital control that has already turned Britain into a global outlier for speech arrests.

In 2024 alone, nearly 10,000 people were arrested for "grossly offensive" social media posts under communications laws - an average of 30 arrests a day. Some forces clocked rates 20 times higher than others.

Violent offenders were released early to free up cells for those jailed over online comments.

The machinery has been building for years. In 2024, a man was arrested simply for posting "anti-establishment rhetoric" after the riots. Authorities prioritised thought crime over street crime, even as prisons filled with people whose only offence was typing the wrong words.

The Online Safety Act handed regulators sweeping powers to force platforms to remove "harmful" content under threat of massive fines.

Critics called it a censor's charter from the start. Government units that once hunted lockdown dissenters pivoted to monitoring mass migration critics.

London Mayor Sadiq Khan openly called for a dedicated government social media disinformation unit.

The trajectory is consistent: expand the definition of threat, then expand the surveillance.

Layer on mandatory digital ID and biometric tracking, age verification systems that end online anonymity, and proposals that treat social media access itself as a privilege granted by the state.

What begins as "protecting the public from protest risks" becomes a permanent apparatus for mapping, flagging, and suppressing dissent.

Authoritarianism does not need tanks in the streets. It arrives with a login and a national internet intelligence team.

The 106 flagged posts are not the end. They are the proof of concept. An elite unit now sits at the centre of British policing with a mandate to scan the public conversation for signs of discontent and feed those findings to local forces.

The official language is careful. The practical effect is a standing capability to treat online speech as a public order threat.

Free expression does not survive that environment for long.

The only question left is how many more posts, how many more referrals, and how many more arrests will be required before the public refuses to accept the new normal.

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 Sun, 08/09/2026 - 12:50

Lake Mead Hits Lowest Level On Record Amid Decade-Long Western Drought

Lake Mead Hits Lowest Level On Record Amid Decade-Long Western Drought

Lake Mead, the nation’s largest reservoir by storage capacity, has fallen to its lowest level on record as a drought throughout western states continues.

Bureau of Reclamation data indicate that the reservoir’s surface elevation rose to 1,040.50 feet above sea level on Thursday, below the previous low of 1,040.58 feet set in July 2022, when the lake first fell to a low following years of drought.

Hoover Dam forms Lake Mead along the Colorado River on the Nevada-Arizona border, and holds water for approximately 40 million people in seven Western states, as well as parts of Mexico. In addition, Lake Mead generates hydropower for customers in California, Arizona, and Nevada, which is threatened by the falling water levels.

As Kimberley Hayek reports for The Epoch Times, the Colorado River Basin has been in a so-called megadrought for more than 20 years.

In 1999, Lake Mead was near capacity, but by 2022 its surface had fallen by nearly 176 feet after a period that is the driest on record throughout many parts of the West.

Southern Nevada gets nearly 90 percent of its water from Lake Mead, and the Southern Nevada Water Authority has long viewed the Colorado River allotment as its largest and most critical resource, leading to conservation efforts over the years that have slashed per-person use going back to the early 2000s, and nearly all indoor water is recycled.

When Lake Mead first fell below 1,075 feet in 2021, federal officials declared a Level 1 shortage, and further declines prompted deeper cuts. Nevada’s share of the river has fallen by billions of gallons over the course of several years.

Hoover Dam also produces thousands of gigawatt-hours of electricity annually.

At Glen Canyon Dam on Lake Powell, Lake Mead’s companion reservoir, the level was 3,521 feet on Thursday, down nearly 33 feet from a year ago.

Electricity production becomes infeasible once the surface falls to 3,490 feet and below.

Both lakes still operate despite being well below the elevation levels needed for reliable power and storage.

Population growth has also added to the pressure.

Nevada ranked near the top of states for growth in recent years, and Southern Nevada is home to approximately 70 percent of the state’s residents.

Lake Mead National Recreation Area attracts millions of visitors each year for a range of activities, including boating, fishing and hiking.

Low water has exposed once submerged features, such as the ruins of the town of St. Thomas. There is also a World War II-era B-29 bomber that was submerged in the lake after crashing almost 70 years ago.

Tyler Durden Sun, 08/09/2026 - 12:15

The Democrat Embrace Of Islamo-Socialism Is Party Suicide

The Democrat Embrace Of Islamo-Socialism Is Party Suicide

Authored by David Sultzer via AmericanThinker.com,

The Democrat party leadership—sensing its mortal danger from a very well-organized and radicalized Islamo-socialist movement—is trying to stay afloat, claiming that the Democrat Party is a “big tent” where the socialists can find a welcome home:

But ironically, as the “big tent” expands, the number of constituencies inside the tent shrinks.

The traditional power bases of the Democrat party, the working class and minorities, are not part of the Islamo-socialist movement. Instead, the “socialist” part is comprised almost uniformly of downwardly mobile, white college-credentialed losers.

All members of the Democrat leadership, without exception, can see the danger to them from the Islamo-socialist movement, as well as the danger to their traditional constituencies—and, for that matter, to our constitutional experiment now 250 years old. Most, as epitomized by Chuck Schumer, are willing to sacrifice the country and appease the Islamo-socialist crocodile, hoping it will eat them last.

Others, such as Julian Epstein, writing today at the NY Post, are sounding all the alarm bells, namely, that such appeasement is not merely “a recipe for moral decay,” but “for political suicide” as well:

Democrats aren’t coddling Scandinavian-style socialists; they’re getting into bed with a nihilistic, deconstructionist brand of third-worldism.

It’s an ideology that seeks the elimination of prisons, policing, borders, the Senate, the presidency, the Supreme Court and democratic free markets.

A worldview that aligns with genocidal jihadist movements like Hamas.

This is, Epstein says, fracturing the party “as working-class voters flee an increasingly toxic Democratic brand [and] the party’s newfound embrace of anti-American extremists is likely to produce big losses nationally...”

Moreover, as to the socialist dreams of Bernie Sanders, Epstein criticizes it as a “delusion that attaches no importance to generating wealth—and only cares about redistributing it.”

Epstein ultimately opines that the rise of the Islamo-socialist movement is part of a bigger problem for Democrats:

[T]hat post-modern liberalism is failing. The more we spend on the welfare state, it seems, the worse the outcomes.

It is a fascinating essay, well worth the read. And as Epstein concludes.

“Democrats can’t run from this lunacy in November.”

And naturally, Victor Davis Hanson gets it:

Tyler Durden Sun, 08/09/2026 - 11:40

Apple Tests Chinese Memory Chips As Supply Crunch Pushes PC Giants Toward CXMT

Apple Tests Chinese Memory Chips As Supply Crunch Pushes PC Giants Toward CXMT

After months of lobbying the Trump administration for clearance to purchase Chinese memory chips, Apple appears to be nearing the point where it can tap China's domestic chip market. The push follows what the iPhone maker has described as "unsustainable" pricing from the memory "cartel," namely SK Hynix, Samsung, Micron, and SanDisk, whose production has been soaked up by unprecedented demand from hyperscalers. 

The Wall Street Journal reported Sunday morning that Apple is closer than ever to using memory chips from CXMT, a Chinese company that the Pentagon has put on a blacklist because of alleged connections to the People's Liberation Army.

Apple is currently testing CXMT memory chips across its product portfolio, including iPhones and MacBooks, according to the report.

The report continued:

Apple has held early talks with CXMT about supplying components with the goal of using them in some devices sold in China, the people said. Apple hopes to win the White House's blessing to do business with the Chinese company.

Apple is raising prices on its products globally, blaming the rising cost of memory chips because of high demand from AI companies. Getting access to Chinese supplies could help the iPhone maker ease its crunch.

As we've covered, the iPhone maker has been waging a lobbying campaign to secure the White House's blessing in order to ease the financial pressure from soaring memory chip prices. A recent FT report said that Apple approached the Commerce Department earlier this summer about procuring Chinese memory chips. 

Apple is not barred from buying chips from China's DDR giant CXMT or from YMTC, another Chinese memory chipmaker that focuses on NAND memory. YMTC has been aggressively growing its market share, has caught up with SanDisk, and is set to become the world's third-largest maker of flash memory as soon as this quarter.

However, US rules prevent Apple from ordering customized chips from CXMT but permit it to purchase off-the-shelf components and negotiate prices. 

The WSJ noted that other device companies are seeking CXMT supplies:

Laptop makers HP and Acer have started using memory chips from CXMT in devices sold outside the U.S. to alleviate some of the memory supply strain, people familiar with the matter said.

We expanded on this last week:

Any agreement Apple inks with CXMT would risk immediate political resistance in Washington, where policymakers fear U.S. orders could strengthen CXMT. Its chip tech trails that of Samsung Electronics, SK Hynix, and Micron, while its production capacity is largely committed for this year.

However, CXMT is rapidly gaining ground. Its second-quarter revenue increased more than eightfold from the same quarter one year ago, lifting its global DRAM market share to 7%. CXMT completed a successful IPO last month (read note).

Tyler Durden Sun, 08/09/2026 - 11:05

UN Sounds Alarm As Iran Steps Up Executions To Silence Dissent

UN Sounds Alarm As Iran Steps Up Executions To Silence Dissent

Authored by Tom Ozimek via The Epoch Times,

The United Nations human rights chief has expressed alarm over a sharp increase in executions and death sentences in Iran, warning that authorities are using capital punishment to intimidate the population and suppress dissent.

“I am alarmed by the rise in executions and death sentences issued in Iran since March, and that capital punishment continues to be used to instill fear among the population and suppress dissent,” U.N. High Commissioner for Human Rights Volker Türk said in an Aug. 5 statement. source

Türk said that since March 19, at least 56 people have been executed on national security-related charges, including 27 in cases connected to protests earlier this year.

More than 100 others face possible execution on similar charges, while executions for drug-related offenses are also continuing at what he described as an “alarming rate.”

He raised concerns about alleged torture, forced confessions, closed-door proceedings, and the rapid execution of some defendants following their arrests.

“Persistent lack of fair trial and due process guarantees are deeply troubling,” he said.

Confessions were allegedly obtained through torture and other forms of ill-treatment, while several executions were reportedly carried out in public. Some defendants were executed only weeks after being arrested, according to Türk.

In one case, 12 defendants were sentenced to death following a single closed-door hearing lasting three hours, he said.

Separately, an independent United Nations fact-finding mission in July urged Iran to halt the executions of 10 men who participated in protests in Isfahan. It also condemned the July 19 executions of two other men sentenced in the same case.

In a statement, the mission called on Iran “to immediately halt all executions, including those of individuals convicted in connection with the protests, and establish a moratorium on the use of the death penalty with a view to its abolition for all crimes.”

Protests and War

The increase in executions has unfolded since the United States and Israel launched a bombing campaign against Iran in late February, following widespread anti-government protests in the country that began amid soaring inflation, economic hardship, and shortages.

The clampdown by the Iranian regime left thousands dead and thousands more detained, according to the United Nations, while Iranian authorities imposed an internet blackout that lasted for months.

Dr. Marjan Haghighi, an Iranian-Australian health professional and human rights advocate, said the increase appeared intended to discourage further opposition to the ruling regime in Iran in the wake of the January protests.

“Following those protests, I believe the authorities shifted from suppressing demonstrations in the streets to using executions to instill fear throughout society,” Haghighi told The Epoch Times in an emailed statement.

“Every new execution sends another message to society that dissent may carry the ultimate price,” she said.

Haghighi said Iran’s strict censorship makes independent reporting difficult and that many executions are never publicly announced.

“The true number of executions is significantly higher than what the world sees,” Haghighi said.

Iranian officials have previously rejected international criticism of the country’s human rights record while defending the use of capital punishment as lawful under Iranian law and necessary to protect public security.

Iran’s diplomatic mission to the United Nations did not respond to a request for comment by publication time.

People wade in the water with cargo ships at anchor in the background, in the Strait of Hormuz off Bandar Abbas, Iran, on June 30, 2026. Amirhosein Khorgooi/ISNA via AP

The surge in executions is taking place as the U.S.–Iran war is into its sixth month and Washington maintains military and economic pressure on Tehran.

President Donald Trump said on Aug. 6 that he believed the conflict would end soon, telling reporters that Iran could not sustain it much longer.

Trump said negotiations over reopening the Strait of Hormuz were progressing, although Iranian officials have denied that they are negotiating directly with Washington.

The United States has maintained its naval blockade of Iranian ports in order to compel Tehran to come to the table and agree to a negotiated settlement to the conflict.

Classicist and military historian Victor Davis Hanson said in recent commentary for The Epoch Times that Tehran appeared to be alternating between talks and attacks to delay a settlement and outlast the Trump administration politically.

Hanson opined that the shifting public negotiations obscured the mounting pressure inside Iran from the blockade, frozen assets, damaged infrastructure, and falling export revenue.

While critics contend that Washington risks becoming bogged down in a prolonged conflict, Hanson said the underlying conditions suggested that “Iran is running out of time.”

Trump has repeatedly said that months of U.S. strikes have decimated Iran’s military and that Tehran’s only remaining leverage is its ability to menace commercial shipping in Hormuz with naval mines and fast boats.

The U.S. president has threatened Iran with a vastly more intense and destructive wave of strikes if Tehran does not agree to a deal that would both reopen the strait and ensure that the regime never acquires nuclear weapons.

Tyler Durden Sun, 08/09/2026 - 10:30

Turkish FM Affirms Defense Pact With Pakistan, Saudi Arabia Is Same As NATO's Article 5

Turkish FM Affirms Defense Pact With Pakistan, Saudi Arabia Is Same As NATO's Article 5

World leaders have been reacting to the Friday signing of a major defense agreement between Saudi Arabia, Turkey and Pakistan in the Saudi city of Makkah among their heads of state. It seeks to strengthen joint deterrence and expanding defense cooperation, the Saudi Press Agency said.

As we reported, it essentially a NATO-style agreement for the 'Muslim world' - given that it stipulates and formalizes that an armed attack on any of the countries will be treated as an attack against all of them.

Turkish Foreign Minister Hakan Fidan has on Saturday affirmed this in very clear terms - in case there were any doubts among pundits - describing that is indeed technically the same as NATO’s Article 5 mutual defense agreement.

Turkey's Foreign Minister Hakan Fidan, via Reuters

He told state Anadolu news agency that a committee of ministers similar to that within NATO would be formed to undergird the new alliance, with the establishment of general secretariat based in Saudi Arabia. This will be the tripartite pact's version of Brussels, it seems.

What's more is that "Egypt could potentially join the pact once certain technical matters are resolved," Fidan added.

Some are already seeing in this a kind of 'counter-Abraham accords' but which goes much further, given the military implications.

Will Washington ultimately back it and give its blessing? 

Al Jazeera has provided the following commentary saying that the US will be okay with it so long as it does not become 'anti-Israeli' in its intent:

David Des Roches, an associate professor at the National Defense University’s Near East South Asia Center for Strategic Studies, has described the defence pact signed by Saudi Arabia, Turkiye and Pakistan as a good move that will be welcomed by the US.

“So long as it doesn’t metastasize into some sort of malign anti-Israel thing, which I think is a very remote possibility, I think it’s positive,” he told Al Jazeera.

The alliance would benefit from Turkiye and Pakistan’s robust defence industries, “a more advanced one in the case of Turkey, less advanced, more machine-age in the case of Pakistan”, he said.

Saudi Arabia, meanwhile, could help finance its two allies. “In both countries, the capacity exceeds their ability to pay for it, and they can’t really maintain national defence industries without a market,” said Des Roches.

The analyst added: "So there’s money, there’s markets, and there’s the possibility for advanced training and education. From an American perspective, if our partners have increased capacity, that's burden sharing. And that’s been the aim of successive American administrations since, really, the end of World War II."

But in the context of the US war on Iran, Iranian forces have attacked Saudi Arabia multiple times. If this happens again, would Pakistan and Turkey really directly intervene against Iran in an Article 5 fashion? 

This scenario is highly doubtful, and Turkey and Iran even share a border which has long been fraught with tensions of its own, especially related to the Kurdish issue.

One thing is certain: this is definitely a Saudi move away from the Abraham Accords which Trump has long pushed for and not toward it. Turkey and Pakistan want to see a clearer divide between Israel and the Saudis and so are only too happy to present it that way.

Tyler Durden Sun, 08/09/2026 - 09:55

Europe Bets Billions On North Africa's Clean Energy Potential

Europe Bets Billions On North Africa's Clean Energy Potential

Authored by Felicity Bradstock via OilPrice.com,

  • The EU’s T-MED initiative aims to mobilize billions of euros for renewable energy, hydrogen, clean technology, and electricity networks across the Mediterranean.

  • Morocco and Egypt are emerging as important partners as Europe invests in renewable generation, grid infrastructure, and potential subsea electricity connections.

  • Greater Mediterranean interconnection could give Europe access to abundant renewable resources while attracting investment and clean-energy jobs to North Africa.

Europe is deepening its ties with North Africa to develop stronger clean energy connections between the two regions in support of a green transition. The European Union and several European countries have invested in Morocco and Egypt in recent years to support renewable energy development in countries with favourable climate conditions for energy production. Over the coming decade, Europe and North Africa are expected to establish a stronger clean energy trade corridor that will help both regions decrease reliance on fossil fuels. 

In June, the European Commission (EC) pledged almost $5.8 billion in renewable energy projects in the Middle East and North Africa (MENA) as part of its T-MED initiative, which it hopes will provide Europe’s grid with clean energy. The aim is to deploy solar panels in the Sahara Desert and wind turbines along the southern and eastern shores of the Mediterranean to produce clean energy in areas with optimal climate conditions. The electricity produced will be delivered to Europe’s grid via high-voltage transmission lines that run under the sea.

Much of Europe is already accelerating the expansion of domestic renewable energy capacity. However, investing in a region with more suitable weather conditions could help European countries transition away from fossil fuels even faster, to meet their electrification targets and climate pledges. The EC estimates that the MENA region has approximately 2,300 GW of renewable energy potential, which is over twice the EU’s current installed capacity. Solar and wind power can also be produced at between 30 and 40 per cent less cost than in Europe.

The hope is that the EU financing will encourage private funding of up to $29 billion by 2035 to support the growth of the MENA region’s renewable energy industry. This includes the development of solar and wind power, hydrogen, and electricity grids. However, to fully exploit its renewable energy potential, the EC estimates that MENA will require almost $115 billion in investment.

The EC expects more governments, development banks, project developers, and private investors to see the value of investing in the region. Meanwhile, it will encourage countries across MENA to simplify permitting procedures, improve grid access, and strengthen regulatory frameworks to encourage investment.

The European Commissioner for Energy and Housing, Dan Jørgensen, emphasised the need to invest in green energy in the face of ongoing geopolitical challenges that have led to energy shortages and driven fuel prices up.

“The EU’s bill for fossil fuel imports has increased by over €47 billion in the past 100 days, but not a single molecule of energy in addition,” said Jørgensen.

“Our energy security must be based on electrified energy systems that are based on clean energy, modern grids and increased connectivity,” he added.

This echoes a broader movement to diversify energy production to improve energy security in several parts of the world.

The EC intends for the initiative to lead to the development of at least 15 GW of new renewable-energy capacity by 2035, as well as to support the creation of over 100,000 jobs. It will also deepen the energy relationship between Europe and the MENA region. This is not Europe’s first clean energy investment in North Africa, but it may be the most ambitious.

In 2019, the EU and European Investment Bank invested €106.5 million in the development of the Noor Ouarzazate solar power complex, a 580 MW power plant located around 10 km north-east of the city of Ouarzazate. The project is expected to reduce carbon emissions by around 760,000 tonnes a year. 

In June, the EU announced plans to deepen ties with Egypt by providing a financing package of up to $794 million to upgrade and expand Egypt’s electricity network. The package consists of a $690 million loan from the European Investment Bank’s development arm, EIB Global, and up to $104 million in EC grants.

Meanwhile, Germany has launched a $30 billion project known as Sila Atlantik with Morocco to develop what would be the world's ‌longest intercontinental undersea power link. The aim is to connect Morocco and Germany via two high-voltage subsea cables to deliver up to 5 per cent of Germany’s annual electricity demand. However, the project has been delayed due to disagreements over structure and guarantees, Reuters reported in June.

If developed, the cables would stretch around 4,800 km and deliver up to 15 GW of solar and wind power from Morocco to Germany. The German firm Sila Atlantik was established to manage the project following the collapse of a similar proposed Morocco-U.K. renewable electricity link, known as Xlinks, in 2025.

The European Commission’s T-MED initiative is the latest and most ambitious plan to expand the MENA region’s renewable energy capacity and enhance clean energy trade between the two regions. It is expected to encourage high levels of private investment in the sector and support broader diversification aims to strengthen energy security across Europe, North Africa, and the Middle East. 

Tyler Durden Sun, 08/09/2026 - 09:20

Fire Erupts At Saudi Aramco's Jazan Refinery As Iran-Backed Houthis Claim Drone Strike

Fire Erupts At Saudi Aramco's Jazan Refinery As Iran-Backed Houthis Claim Drone Strike

Yemen's Iran-backed Houthis claimed responsibility for a drone attack on Saudi Aramco's $21 billion Jazan refinery, located on Saudi Arabia's southwestern Red Sea coast, roughly 44 miles from the Yemeni border. The facility is strategically important because it allows Aramco to export refined products through the Red Sea without transiting the Strait of Hormuz. The attack also signals the growing vulnerability of Saudi energy assets in the region, where Houthi forces have repeatedly targeted them in recent weeks.

A Bloomberg report cites Saudi Arabia's Energy Ministry, which said a fire broke out early Sunday at the 400,000-barrel-a-day Jazan refinery before being extinguished.

The outlet continued:

No injuries were reported, the ministry said in a post on X, without providing details on the cause of the fire. Authorities "are completing necessary procedures to deal with the incident," it said. Yemen's Houthi rebel group subsequently claimed the attack, the group's military spokesperson said in a post, also on X.

Ariel Oseran of i24NEWS English reports: 

The Houthis attacked the port of Mocha in western Yemen, causing several explosions and a large pillar of smoke. Earlier, the Houthis said they attacked a Saudi Aramco oil facility in Jazan.

The Jazan incident comes as U.S. and Iran are going back and forth in an effort to ink a peace deal to reopen the Strait of Hormuz. 

U.S. Treasury Secretary Scott Bessent appears to back the Iran-Oman deal to open the critical maritime chokepoint, with President Trump and his officials remaining surprisingly quiet even as it has emerged that the deal outline is wholly favorable to Tehran's conditions.

Any agreement to reopen the narrow waterway will require approval from Iran's Supreme Leader Mojtaba Khamenei, potentially delaying an announcement as officials struggle to reach him, according to Bloomberg.

"The opening of the Strait is subject to other conditions, including the compensation for the US's violations of the Islamabad Agreement," Iranian Foreign Minister Abbas Araghchi said on Saturday. He was referring to the now-collapsed memorandum of understanding signed in June.

Catch up with Saturday's US-Iran news flow:

Sunday morning data from Bloomberg show vessel crossings through the Hormuz chokepoint are still at ultra-low levels.

Brent crude futures closed Friday at $83.55 a barrel, bouncing off the $80 level.

Latest US-Iran Headlines (courtesy of Bloomberg): 

Hormuz Deal Status

  • Iran says it is "very close" to a deal with Oman on a temporary maritime transit route through the Strait of Hormuz, but any agreement would not immediately reopen the waterway.
  • Iran's conditions for reopening the strait include compensation for U.S. violations of the Islamabad Agreement, lifting sanctions, and billions of dollars in war damages, according to U.S. officials.
  • Iran is also reportedly demanding that U.S. Navy warships be barred from passing through the Strait of Hormuz as part of any reopening agreement, reflecting the influence of IRGC hardliners.
  • Oman has called for a halt to attacks on ships in the strait, saying they violate sovereignty, while describing negotiations as progressing in a "positive and constructive atmosphere."

Iran-US Talks

  • Iranian Foreign Minister Abbas Araghchi said on Sunday that direct talks with the U.S. are currently impossible, citing U.S. violations of the June Memorandum of Understanding.
  • Iran says it is currently only exchanging messages with the U.S. through intermediaries, with some countries trying to reestablish grounds for negotiations.
  • Trump had been laying the groundwork to declare victory if Iran fully reopened the strait, even floating the idea of walking away without a nuclear deal, but Iran's escalating demands have complicated that objective, according to U.S. officials.
  • Vice President JD Vance said the U.S. is "in the middle of the game" with Iran, using diplomatic, economic, and military tools, and expressed confidence in reaching a good outcome.

Iran's Politics

  • Supreme Leader Mojtaba Khamenei met with President Pezeshkian on Sunday for "detailed discussions" covering livelihoods, war conditions, military developments, and economic interactions. Khamenei has not been seen in public since the war began.
  • Mohsen Rezaee, a military adviser to Khamenei and former IRGC commander, has been appointed as Khamenei's representative on Iran's Supreme National Security Council, according to TSNA.
  • Hardline factions within Iran, including IRGC leaders and clerics, are reportedly pushing to keep Iran at war and block peace talks with the U.S.
Tyler Durden Sun, 08/09/2026 - 08:45

WNBA To Hold 'Listening Sessions' After Second Former NBA Star Says He's A Woman, Declares For Draft

WNBA To Hold 'Listening Sessions' After Second Former NBA Star Says He's A Woman, Declares For Draft

Update (1800ET): WNBA commissioner Cathy Engelbert sent a memo to teams that addresses ongoing discussions around transgender athletes in women's basketball.

"I know many of you have received questions in recent weeks regarding transgender athlete participation in women's basketball, and I expect this topic will continue to receive significant attention," Engelbert wrote in the memo, which was sent Friday afternoon and obtained by The Associated Press and ESPN.

"I wanted to reach out to share how we are approaching these conversations at the league office and to thank those of you who have responded to questions from the media with thoughtfulness and professionalism."

The memo said the topic will be discussed further by a task force of team presidents and general managers at a previously scheduled meeting next week.

The league's collective bargaining agreement states that "only players who are women are eligible to play in the WNBA," but it does not include any more specific language about gender identity or sex assigned at birth. 

"We recognize that this is a complex and nuanced topic, and we will continue to have important conversations with all of you and the Players Association in the weeks and months ahead," Engelbert said in the memo.

"We also plan to convene additional discussions and offer listening sessions for any team leaders who would like to participate. Your perspectives and feedback are invaluable, and I appreciate those who have already reached out to share their thoughts."

The Women's National Basketball Players Association released a statement on social media Friday that emphasized diversity and inclusion while saying the group "will not be used as political pawns."

"We embrace justice equity, diversity, and inclusion," the players' union said.

Inclusion?

Perhaps the WNBA will finally be the first group to actually define "what is a woman?"

*  *  *

As Robert Spencer reported earlier for PJMedia.com, every person who is tired of the left forcing its delusions and fantasies on the rest of us, and shaming, deplatforming, and silencing us if we refuse to go along, ought to be applauding Royce White and Enes Kanter Freedom for standing up to the madness, and showing the world just how absurd it really is.

White and Freedom have declared that they’re women, at least for the purposes of professional basketball, and so they’re declaring for the 2027 WNBA draft. This is hilarious, but it’s no joke. It’s an unanswerable response to the left’s fashionable gender delusions, which have recently become a source of controversy within the WNBA, which ought to be called the WWNBA, the Woke Women’s National Basketball Association.

It all started when WNBA star Sophie Cunningham stated that she was not in favor of men pretending to be women playing women’s sports.

This sparked the usual spittle-flecked fury from the left. The WNBA’s Minnesota Lynx coach Cheryl Reeve, among others, came out in favor of delusional men competing against women. 

The WNBA players’ union issued a weaselly statement denouncing “Hate, abuse, and demonization of any person or group of people, including transgender people.”

Nobody had engaged in any of that, but that’s how leftists always characterize disagreement with the views they want everyone to hold.

Meanwhile, there has been talk of a WNBA team signing French basketball player Julie Tétart, who is a dude.

And so if Julie Tétart can do it, why can’t Royce White and Enes Kanter Freedom? They are just as female as Tétart is. Fox News reported Friday that White said: "I'm transgender. I'm a woman. I identify as sometimes identifying as a woman for purpose of basketball, professional basketball, so I'll be declaring for the WNBA draft in 2027 as well," that is, in addition to Enes Kanter Freedom.

White added a correct assessment of how well a male professional would do in the WNBA: "I think I’d be unstoppable. But I’m a team-first guy. I’m a pass-first kind of player. I do the little things. I led my team in all five major stat categories at Iowa State University, so I do a little bit of everything. I’ll do whatever the coach needs me to do. I’ll do whatever the girls need me to do... I think it’s only fair."

White noted that the WNBA, for all its declarations of how much it rejects “hatred” of men who claim to be women, hasn’t said explicitly that men could play in the WNBA. Maybe WNBA top dogs hope that the whole thing will just go away, but it won’t.

"I think the WNBA could come out,” White said, “and make a definitive statement about guys with a pair of balls playing in the Women’s Association."

Asked if he would declare for the WNBA draft unless the league said that men could not play in the league, White responded: "Oh, no, I’m declaring. And I don’t want to be discriminated against. I want fair treatment. I’m a young, black, hopefully United States Senator that would like a fair chance to participate as a sometimes-identifying-as-a-transgender-woman athlete." White is on the ballot for the senate in Minnesota in the Republican primary; the election is coming up next Tuesday.

What if the WNBA calls White’s bluff and no team opts to sign him?

"I have to file a discrimination lawsuit, right?,” White said.

“I mean, that's, that's ridiculous. We're gonna have to have a huge legal battle about discrimination if I can't play." White says he would like to play for Cheryl Reeve: "It’s got to be the Minnesota Lynx, and I hear the coach loves a good transgender, so we’ll all be in perfect harmony.”

White expressed confidence that he would be drafted:

“How you gonna pass up on a 6-foot-8, 270-pound point forward? That’s ridiculous. I’m 260 pounds, 265 pounds, 6-foot-8, can palm a basketball — can palm a men’s basketball probably as easily as any player in history. I think I had the third-biggest hands in the modern NBA Draft Combine. So, yeah, I’m sure the women’s basketball is going to fare even easier to palm, which is a huge advantage. They’re going to have nightmares, and they should. I really feel like I’m going to be dominant."

He’s right.

If a WNBA team signs Julie Tétart or any other delusional man, the Minnesota Lynx or any other WNBA team would be foolish to pass on Royce White.

And then other teams will follow suit, until there are no women players left at all, and the WNBA is entirely filled with men and becomes a junior NBA. That will be true gender justice, won’t it, Ms. Reeve?

Tyler Durden Sat, 08/08/2026 - 21:00

'Busted': Female Bicyclists 'Bulk Up'

'Busted': Female Bicyclists 'Bulk Up'

Authored by Mike McDaniel via AmericanThinker.com,

I’ve been a bicyclist all my life, but because I came to serious road racing late in life, I never had the opportunity to be competitive. Oh, I had a few good bikes and wore the required attire, but I was never going to make the medal stand.

I did ride with enough serious riders to understand their compulsions. Among them was doing whatever was necessary to shave every gram of weight possible off their trusty steeds and to make them, and themselves, more aerodynamic. Shaving the legs was mandatory, but I never participated in that ritual. The seconds that might save weren’t going to make any difference for me, nor would drilling holes in this or that component.

If you know the jargon, those were the days when shifters were mounted on downtubes, and carbon fiber was in its infancy. It consisted of round frame tubes glued into metal fittings. Ten-gear cassettes and single chainrings were the hot setup. That dates me, doesn’t it?

Much has changed since those years. Frames can now be entirely made of carbon fiber and tuned for specific kinds of races.

Everything is lighter and stronger, and computer technology has made it possible to fine-tune bike and rider to an amazing degree—particularly female riders’ breasts. Breasts?! Breasts:

Something strange is happening at the Tour de France Femmes this year.

Several women’s WorldTeams have come forward claiming that some riders are padding their bras during time trials to gain an aerodynamic edge.

The Dutch website Wielerflits broke the story after hearing from multiple teams. The complaint is that certain cyclists are using extra padding to make their chests appear larger. In the low, aggressive position of a time trial, a rounder chest can act like a “fairing,” smoothing the air and reducing drag.

Oh, come on. This has to be The Babylon Bee, right? Nope. It, and the breasts, are the real thing:

Graphic: X Post

… aerodynamics expert Bert Blocken has studied the idea. (Uh-huh. I’m sure he did). 

Hey!  You don’t want to be a science denier, do you?

His research found that a proper chest fairing can cut air resistance by as much as 3.6 percent. In a race that often comes down to seconds, that kind of gain is not nothing. Over 20 or 30 kilometers, it could easily decide a stage.

That’s exactly why riders strain to do whatever they can to get that kind of advantage. Races are often won by fractions of a second, and a 3.6% aero advantage translates to double-digit seconds over longer races. That’s a substantial win, particularly in a time trial.

Due to a law enforcement neck injury, my bike racing days are over. I can’t get on the drops (the lower portion of road bike handlebars)—it’s a pain in the neck--so I ride recumbents. You never see them in sanctioned bike races because while they’re heavier than the lightest road bikes, they also have a 10-15% aerodynamic advantage, so they’re banned.

The timing of the accusations is pretty interesting. They surfaced just as the race produced one of its most memorable moments — the longest solo breakaway victory in the history of the Tour de France Femmes on Stage 3. Officials have been quick to note there is no evidence a padded bra had anything to do with that result.

In bike racing, the tiniest technical detail and rule is usually rigorously observed. Obviously, they’re taking breasts seriously, which is always wise.

Still, the story has put the entire field on notice. Extra clothing inspections are now expected ahead of the next time trial. Bra inspections. Unbelievable.

Graphic: X Post

It should be pretty easy to spot padding.

Female riders tend to be among the leanest female athletes in the world with very low body fat percentages, which means less - ahem - prominent breasts.

I also suspect the line to volunteer for that duty will be long indeed. It’s a dirty job, but someone has to do it for the purity of sport and the sanctity of science.

Being male and having decades of experience with observing and judging breasts, I’m uniquely qualified. Where do I apply?

Tyler Durden Sat, 08/08/2026 - 19:50

Jeftovic: The "Bitcoin Only" Era Is Over...

Jeftovic: The "Bitcoin Only" Era Is Over...

Authored by Mark Jeftovic via BombThrower .com,

(From The Sovereign Capitalist Letter #65. I was traveling at the time of the Coinkite vulnerability, surfacing a recurring theme around how to safely balance cold storage and emergency access when on the road).

Just when I thought the sentiment couldn’t get any worse, on July 29-30 reports began to emerge of “certain” Coldcards (which were supposed to be the industry standard of self-custody cold wallets), being drained of their funds.

The reports are true, and this has enormous implications, not just for Coinkite, the Canadian company who manufactures the Coldcard, but for the entire worldview of self-custody and perhaps even for Bitcoin itself.

“Not your keys = not your coins” has been the mantra of Bitcoin since the Genesis Block. Self-custody was The Way. Anything else was for “shitcoiners”, “suitcoiners” and general retards.

It is impossible to overstate how strongly the Bitcoin in-club feels about this. If you don’t self-custody – and until this happened, on a Coldcard by Coinkite – then you were not really a “true” Bitcoiner, you were just LARPing as one. A spectator in the land of the pureblood anarcho-capitalist cyberpunks.

(Admission: my BTC wasn’t on a Coldcard – but I had recently bought new one that I was planning to migrate to after the BIP-110 and eCash forks).

When Utopia arrives… only the self-custody maxis would be admitted – all else would be chattel and serfs under various permutations of slavecoins, CBDCs and (the worst of all) paper Bitcoin.

It all sounds very eschatological and in the earlier days of my journey, I would openly admit “Bitcoin is my religion” and only be half-kidding about it.

While this bear market has been a “mild winter” in terms of price action (only about ~ 50% off the all-time high), this has been one of the more self-destructive bear cycles in terms of Bitcoin culture and the movement in general.

None of it helped by the fact that the Coldcard flaw turned out to be real.

People who had done everything right, took their BTC off of the exchange, put it into an air-gapped Coldcard powered by a 9V-battery and thought they were safe, found their life-savings irrevocably drained away in an instant…

Via r/bitcoinOver the years I’ve recommended Coldcard to my readers a few times. We were traveling when the news broke but as soon as I corroborated the vulnerability, I put out an emergency bulletin to the mailing list.

At first it appeared as though the flaw was limited to older Mk2 and Mk3 models, but over the next couple of days Mk4 and Q1 series were also being drained – it just takes more computing power, and thus time, to crack the entropy on the later models.

What Happened – The Coldcard Firmware Flaw

As everyone here knows, a Bitcoin wallet address is a very long cryptographic private key that can be transmitted or stored in a human readable form via a 12- or 24-word seed phrase, consisting of words pulled from a word list (BIP-39) of possible values.

The words themselves are actually unimportant – they’re just there for humans to be able to read the values. The discrete value they comprise is what matters.

And because a given wallet address is secured by a private key derived from a seed-phrase, those words must be in order.

That makes the universe of possible values enormous:

  • 12 words gives 2¹²⁸ possible valid phrases

  • 24 words gives 2²⁵⁶ possible valid phrases

A 12-word seed space is a vastly larger number than every grain of sand on Earth or every star we can see in the observable universe.

A 24-word seed space is larger than the number of atoms in the entire galaxy, and approaches (but is generally a bit smaller than) the estimated number of atoms in the observable universe.

But that’s only if those words are generated from a truly random seed (entropy source).

Take an extreme example: simply picking the first 12 or 24 words from the BIP-39 word list isn’t random, and a wallet protected by such a seed phrase would be cracked in short order by a brute force computer.

The Coldcard ships with an onboard RNG (Random Number Generator) to generate your seed phrase, however their own documentation states that to achieve maximum entropy (randomness), you should also add some “external entropy” such as dice rolls – real, actual physical dice, rolled, 50 or 100 times – combined with the onboard RNG for maximal security.

Many people did not roll the dice, assuming that the onboard RNG would provide more than enough entropy for a secure seed phrase (remember those numbers above).

The problem was in Coldcard’s firmware itself, where the RNG generator turned out to be bypassed – resulting in extremely weak entropy – and thus, weak seed phrases.

This bug has been sitting there since November 2021 (the Coldcard firmware is open source/viewable),

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

The follow-up tweet lays out what went wrong in the Mk4 and Q series:

“Mk4, Q, and Mk5 attempt to compensate at boot with secure-element input, but the reseed truncates it to 32 bits, sharply limiting the secret entropy it contributes – far below what wallets should have.”

It later came out that it looks like a developer simply disabled the RNG to workaround some compiler errors:

A new technical analysis by Core-Lightning dev ddustin suggests the 2021 COLDCARD vulnerability may have started while a developer was trying to connect three layers of the firmware: the wallet’s Python code, MicroPython’s C code, and the STM32 hardware random number generator.

The custom code appears to have conflicted with MicroPython’s existing implementation, likely triggering a compiler error.

The evidence suggests the developer then disabled the hardware RNG by setting MICROPY_HW_ENABLE_RNG to 0, allowing the firmware to compile.

That change had an unintended consequence. When users created new wallets, the firmware no longer used the hardware random number generator. Instead, it fell back to MicroPython’s much weaker Yasmarang software random number generator.

There are people out there implying that any wallets drained are somehow on the Coldcard owners, because they didn’t add enough external entropy (read: they didn’t do enough dice rolls, or any dice rolls).

This is a fucking retarded take. It actually makes my blood boil.

No other Bitcoin hardware wallet requires the user to provide external entropy as a condition of the fucking thing working.

People buy these wallets because they purport to be an ultra-secure, self-contained Swiss-Bank-in-your-pocket solution for escaping the fiat treadmill and putting your life savings beyond the reach of The State. Full stop.

There is no asterisk beside those claims that “you have to jiggle your body and roll a bunch of dice dozens of times while waving a dead chicken over your head to add entropy or it won’t work”.

Except, on a Coldcard

Actions to take: If you have a Coldcard, regardless of how you set it up – I would move all of my funds out of it.

What Does this mean for Self-Custody and for Bitcoin?

Indeed. That is the question.

I have been thinking long and hard about this, not to mention conducting a deep dive into the entropy generation on other wallets.

The gist is this:

Every other wallet I came across uses well-known methods for generating entropy that come off of the device itself (such as the the o/s level Cryptographically Secure Pseudorandom Number Generator – CSPRNG) and many of them combine that with several other sources of entropy – any given computing environment offers a few of those (clock speed jitter, etc), and in some cases, dedicated chips just for entropy generation.

But this still had me rattled: why bother worrying about a quantum attack on SHA-256 in 5 or 50 years, when you can just crack the entropy using Fable or Opus 5.6-sol today?

Fortunately, it turns out that is not the case. The Coldcard vulnerability was entirely exploitable, and discoverable, because of a series of bad decisions and programming bugs. It was not a case that entropy had been cracked, it was that insufficient entropy was generated in the first place.

This X post from another wallet provider lays out the reasons why, years ago, Coinkite switched their open-source licensing scheme as well as their own code in the Coldcard firmware – and how by doing so they set the stage for the disaster unfolding in front of our eyes today.

Also noting that @nvk (Coinkite’s CEO) deleted the tweets referenced above and has been dutifully scrubbing his timeline since all this broke out. Absolutely abysmal leadership.

All this to say – (because it bears repeating): the issue is not that AI could crack the entropy used to generate seed phrases. That would be game-over for Bitcoin.

What happened instead was that AI was used (at least once it became known that there was an exploit to be found) to uncover a flaw in entropy generation.

Very different.

That means the industry-standard wallets (Trezor, Bitkey, and software ones like Sparrow or Electrum) are fine – and I still feel OK typing that – in fact more so, after the rabbit hole I’ve been down these last 48 hours.

But there are some practical takeaways now, and some possibly unpleasant ramifications, at least for me, and I’ll lay them out frankly here, in no particular order:

  1. Multi-sig self-custody is now the bare minimum.

    Wallets that require multiple signatures to spend – if you are handling it all yourself, you can still do solo multi-sig, where you require two-of-three signatures to originate an outbound transaction.What I will probably end up doing is prepping some docs or tutorials on getting that set up.

  2. Institutional custody is a serious option, which should be considered.

    But it comes with trade-offs, one of which is that it’s very difficult to create a multi-generational custodial entity in a nascent space. You almost by definition need to fuse some venerable old tradfi institutions with cypherpunks.The reality is the institutions best equipped or positioned to do this, are not “Bitcoin-only”, which seems to matter to the hardcore maxis.But there’s another problem with that:

  3. Most Bitcoin-only businesses are on their way to bankruptcy.

    If not this bear cycle, then the next one.This is because in the overall scheme of things, not enough people actually give a shit about Bitcoin to make a “Bitcoin-only” business viable over the long haul. This includes as many as 90% of the people (total guesstimate) who are actually allocated to Bitcoin.Most of them couldn’t care less about self-custody, retiring their bloodline, “everything divided by 21 million”, escaping the state, or any of the long string of maximalist purity tests.

    They want a double-digit CAGR, and to catch the next bull market updraft. That’s it. That’s the majority of people invested into Bitcoin. Reality check.

  4. ETFs are fine.

    This needs to be said. Again, there are trade-offs (surprise!):You’ll miss out on the proceeds of any forks (the ETF sponsor will pocket those) and you’re very much inside the financial system. But they are a way to capture the upside of Bitcoin, hold for the long term, with total liquidity.

  5. The right exchanges are also fine.

    Another blasphemy but it’s true. One thing I’ve been saying for years is that most people don’t want the hassles associated with self-custody. It’s a high bar and what most people really want is “PayPal for crypto”. And notice I didn’t say “Bitcoin”, I said “crypto” – another no-no word for “True Bitcoiners”, but the reality is that the mass adoption underway is of crypto.

    Bitcoin just happens to be a subset of that.I can envision setups where of the total allocation in a portfolio to Bitcoin, the majority is held via ETFs, while self-custody BTC is akin to our “Bug-out bag” component, along with a lightning wallet loaded up with some “walking around money”.

  6. Bitcoin is not the apex asset.

     I have been wrong about this. It’s still a category-of-one in the digital asset space, it’s still digital sound money and a store of value, but it’s just another asset class across the possible choices one can allocate into.The maxi proposition that allocating to anything other than Bitcoin in one’s investments or savings is “retarded” is itself retarded. I remember seeing a tweet some time ago that just broke my heart, where some pleb took his daughter to Burger King for her fifth or sixth birthday and was thrilled that she understood why instead of buying her a birthday present he bought some Bitcoin.Horrible parenting. Buy your five-year-old a birthday present. Pay them for chores in Bitcoin. Don’t take them to Burger King, ever. Grow the fuck up. You’re supposed to be the adult here.

    The apex asset is business ownership. We can talk more about this, and we will.

  7. Being 100% invested in Bitcoin or having all your life savings in Bitcoin is a mistake.

    Another mistake of mine, in the sense where I proudly declared that easyDNS holds 100% of its retained earnings in BTC. Others hold the sum total of their life savings in Bitcoin.This is a big mistake – which anybody who just had their life savings drained in under 20 seconds in this episode understands all too viscerally.

    Speaking for myself, I will be adjusting my allocation. Probably gradually, because I do think we’re “at bottom” in this cycle, so as we climb out of this bear market, I will be diversifying – likely more aggressively into cashflow-producing businesses.

    I’ll do this through a combination of collateralization in a (hopefully) up-trending market, and sales under the right circumstances.

    There are a couple of special situations I’m working on where it feels like the most sensible move is to create an investment partnership – so I will be cashing out some chips to seed that fund.

    I’m glad I still have gold and numerous investments outside of the Bitcoin and even crypto space. I’m also looking at more real estate. The market is in the toilet now so it’s a good time to buy – and this actually brings us to an important point:

    The Bitcoin maxi axiom that it’s always a good time to buy, never a good time to sell, and that Bitcoin is the only investable asset, forsaking all others, has to be abandoned by anybody who is serious about building wealth.

    I don’t care about passing the Bitcoin purity tests. Maybe I did in the past, which was also a mistake.

    Remember when Luke Gromen sold Bitcoin right near the top of the cycle and everybody in the Bitcoin space called him an idiot?

    Who are the idiots now?

    I’ll give you one guess.

    I’m not saying we should have sold when Luke Gromen sold, I’m observing that a professional investor applied his framework and made a determination on when he should sell – and that gave him optionality that none of us “pureblood Bitcoiners” have, as long as we’re trapped in this “never sell” / Bitcoin-only mentality.

If I could sum up the above list in one pithy tweet, it would be the opening image of this month’s edition, by way of Nic Carter, who also found himself excommunicated from The Bitcoin Cathedral for indulging in shitcoinery.

Sign up for the Bombthrower mailing list here and get an executive summary of my new book: The Blueprint Survive & Thrive In An Overclocked Timeline. Sovereign Capitalist members get early access to the full book here.

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

Tyler Durden Sat, 08/08/2026 - 18:40

Another Sign Of The Times: 'F**k ICE'

Another Sign Of The Times: 'F**k ICE'

Authored by Thaddeus McCotter via American Greatness,

Strolling through a major American urban metropolis, I noticed that the tightly packed homes and squat tri-level apartments and condos had tiny, browning “natural gardens” pocked with the usual virtue-signaling lawn signs setting forth their progressive secular creed’s commandments: “kindness always,” “hate has no home here,” etc.

Yet amidst this self-proclaimed bastion of love and tolerance, I quickly spied an ostensibly contradictory placard in many residential windows and, in fact, on the bumpers of many cars, both rust buckets and some upscale, socially responsible electric ones. Indeed, this sentiment was so prevalent that the host of a YouTube video touring the city’s neighborhoods casually expressed it as an aside and apologized for not stating it in a prior video.

What was this urgent statement needing to be publicly proclaimed to one and all by any and all means fair and foul?

It was “F— ICE.”

Being literal, initially the prospect left me cold.

Then I wondered if the sign maker had misspelled “DEI.”

However, upon reflection, I realized that ICE was the acronym for U.S. Immigration and Customs Enforcement. Despite the other lawn signs professing kindness, I immediately understood the f— in question was not to be construed as an act of love. Further, the people sticking these placards in their windows and onto their bumpers are clearly not an “ally” of ICE.

“F— ICE” did not have the ring of “Aux Armes!” or “¡No pasarán!” or even “земля мира и хлеб!” In fairness, though, I did notice the “F— ICE” sign. But I also would have noticed a dead skunk glued to a window or squished on a bumper.

In a sign of the times, once more, public profanity was conflated with sincerity and earnestness—and, of course, “hipness” and “edginess”; and, once again, the consequences of such selfish public virtue-signaling were ignored, if they were ever contemplated at all.

Did such virtue-signaling regressives understand their vehement, vulgar opposition could help foster dangerous and deadly attacks upon ICE agents whose only “crime” was enforcing the duly enacted laws of the United States? Or that it could help foment equally dangerous and deadly confrontations between ICE agents, illegal immigrants, and bystanders who deliberately interfere with agents in the course of their duties?

Did they understand that by abetting open borders they helped diminish and demean the hard work and sacrifices made by legal immigrants to the country? Or that in aiding illegal immigration (and usually opposing assimilation) they harm legal immigrants by diminishing their public safety, lowering wages and job opportunities, and straining the social safety net resources available to those who need them?

Perhaps they were unaware Zeale reported that, in the aftermath of violence regarding the enforcement of American immigration laws, two Catholic bishops did, in fact, grapple with the issue and concluded:

Acts that diminish or disregard the dignity of any person or group of people should never be normalized in our society,” Bishop Daniel Garcia and Bishop Brendan Cahill wrote in a July 20 pastoral reflection published by the United States Conference of Catholic Bishops (USCCB). “The dehumanization of immigrants, regardless of their legal status, is one such example of this; the vilification of law enforcement officers is yet another.

As the reporter, Elizabeth Ervin, makes clear, the two bishops are certainly not ICE apologists. Acknowledging their “pastoral concerns are distinct from what the civil law itself may permit,” the pair of clerics expressed their opposition to racial profiling and called for reforming immigration enforcement to ensure “accountability, transparency, and justice.”

Nonetheless, the bishops’ support for migrants regardless of their status and for reforming immigration enforcement did not lead them to demonize ICE agents. On the contrary: “We continue to affirm the legitimate role of civil authorities to implement the law in a humane manner and with respect for fundamental human rights, including the rights to life and due process. The power of the state must always be exercised within the limits of the moral law.”

Whatever one’s view of immigration and border security, only the worst among us can fail to recognize the above is an example of “civility.” And engaging in civil discourse with those who disagree with you is a far more conducive way to achieve change and consensus than spouting profanity in public to preen for your allies and alienate everyone else.

As the bishops remind us, “We pray for an end to dehumanizing rhetoric, racial prejudice, and violence and for a renewed commitment to recognizing the inherent dignity of every person as a child of God.”

Sure, that might not fit on a windowsill or below a trunk, but that is no matter. Such truth is meant to be etched in the heart.

Tyler Durden Sat, 08/08/2026 - 17:30

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