Woke 2.0 Will Be Worse

Authored by Spencer Klavan via AmericanMind.org,

Readers familiar with Dr. Seuss’s classic, The Cat in the Hat, will remember the twin chaos agents Thing 1 and Thing 2.

“‘These Things are good Things,’” the Cat reassures the children whose mother has inexplicably left them under the supervision of a fish.

“‘They are tame. Oh, so tame! / They have come here to play.’”

The Things briefly feign innocence, then quickly reveal themselves to be marauding imps, knocking over nightstands and ruining the linens.

“I do not like the way that they play!” says the son of the house.

Now here comes Woke 1 and Woke 2.

“Woke 1 was crazy,” said U.S. Representative Alexandria Ocasio-Cortez, quoting an unnamed city councilman in a viral interview for ABC. The congresswoman sheepishly acknowledged that Americans did not like the way Woke 1 played out, while also implicitly announcing that there will soon be, or already is, a Woke 2. And it will be tame. Oh, so tame!

There is, in fact, a new version of wokeness in the making. But just as Thing 2 was fundamentally identical to Thing 1, Woke 2 will not be any different in essence from Woke 1. They are both here to upend the furniture.

Wokeness in all its forms is grievance politics.

Its central idea is that an injustice lies at the heart of America and must be corrected to atone for the historical misery inflicted on groups of innocents.

What is changing in Woke 2 is the account of who those innocents are, and how they have been wronged. Woke 1 was founded on the notion that black women are the most oppressed, and therefore most righteous, of all people. “I’m thinking,” said Kamala Harris in her vice presidential victory speech, “about the generations of women—black women.” She mentioned many other kinds of women, of course, but the list began and ended with “the black women—who are too often overlooked, but so often prove that they are the backbone of this country.”

This approach had rhetorical power, up to a point. It traded on the successes of second-wave feminism and the reality of black slavery in America’s past. But it ran into some problems. Third-wave feminism, as worked out by theorists like Judith Butler, made it basically impossible not to affix the prefix “trans-” wherever the word “woman” appeared. So the flag of Woke 1 became the complicated and confusing progress pride flag—a gay rainbow with black and trans colors intruding from the left.

To make matters worse, the legacy of slavery did not actually touch all the racial minorities that Democrats wanted to bring into their fold. Most Nigerians, for example, had not experienced segregation in the United States. Nor had the millions of unvetted South and Central Americans streaming across the border. They were certainly “people of color.” But so were Chinese, Japanese, and Indian Americans, whose typically enviable life outcomes fit awkwardly into the narrative that the country was built on a ruthless caste system.

The contradictions heightened as Woke 1 faced a series of embarrassments such as Students for Fair Admissions v. Harvard, the 2023 Supreme Court case in which Asian students complained that admissions officers were discriminating against them in favor of black applicants. Then there were the notorious Trump ’24 ads that pinned Harris to her previous support of taxpayer-funded gender surgeries for federal prison inmates. Placing black women at the center of the moral universe created an unexpected and electorally unworkable set of obligations to illegal immigrants and queer felons.

Clearly, the coalition needed shuffling. And so rearranging the order of priorities in the grievance hierarchy is what the reinvention of woke has actually been about. In place of the black trans woman who defined Woke 1, Woke 2 has chosen as its ideal victim the dispossessed Palestinian liberationist, fighting with Hamas against Israel. This has a number of interesting strategic advantages.

First, the racial argument has been neatly streamlined. Rather than implausibly analogizing every racial group in America to the victims of Jim Crow, Woke 2 presents the black American story as just one instance of a global fight for justice carried out by minorities everywhere and epitomized in the intifada.

In 2023, on a panel for the Democratic Socialists of America, future New York Mayor Zohran Mamdani claimed that “when the boot of the NYPD is on your neck, it’s been laced by the IDF.” He was outlining the blueprint for Woke 2, which takes its cues not from Judith Butler but from post-colonialist Frantz Fanon’s The Wretched of the Earth (1961). “Between colonial violence and the insidious violence in which the modern world is steeped,” wrote Fanon, “there is a kind of complicit correlation, a homogeneity.” Therefore, “The colonized, underdeveloped man is today a political creature in the most global sense of the term.”

Recently, in an intriguing interview with The New Yorker’s David Remnick, Democratic Senate hopeful Abdul El-Sayed put forward an argument that connects Fanon’s global struggle to America’s domestic economy. He claimed that pro-Israel politicians are allowing “the money that should be spent taking care of our kids to be sent to a military that has done a genocide.”

In other words, Woke 2’s new order of priorities allows its proponents to suggest that white or white-coded (read: Jewish) oppressors are funneling money away from America’s working poor to fund a worldwide campaign of mass slaughter. Distant as this account is from reality, it is much more ruthlessly focused as a line of woke reasoning. It emphasizes foreign policy and the economy, where the public’s real anger lies, and deftly mutes the discredited claims of LGBTQ extremists.

In practice, any woke administration of any variety will end up imposing pretty much the same bizarre sexual priorities on the country once elected. But for purposes of advertisement, Woke 2 will try to keep its trans members less conspicuous than Woke 1 did, for at least as long as it takes to re-establish national power. Replacing the progress pride flag with the Palestinian flag will distract from the ravages of queer excess while infusing socialist revolution with the moral self-righteousness of anti-white resentment.

Whether this tactic succeeds with voters is another matter.

If it does, though, Americans will discover that both Woke 1 and Woke 2, like Thing 1 and Thing 2, only play nice until they can start pitching over tables.

If we want to avoid a rerun of the early 2020s, then—to paraphrase Seuss—we will have to get rid of Woke 1 and Woke 2.

Tyler Durden Sat, 08/15/2026 - 15:10

Ukraine Hits Key Russian Space Facility With Flamingo Cruise Missiles

Ukraine's long-range drone attacks have frequently targeted military bases and oil refinery and energy sites of late, and more recently warehouses of major Russian online retailer Wildberries - but on Saturday a new target has been added: space facilities.

Ukrainian forces have touted that they've struck the Progress Rocket and Space Center in Russia's Samara region. The facility focuses on the manufacturing and operation of space launch vehicles.

Illustrative: Baikonur Cosmodrome, Space.com/NASA

Ukrainian President Volodymyr Zelensky said on X that Ukraine hit the space manufacturing center with FP-5 Flamingo cruise missiles - among the largest in Ukraine's arsenal, and which are domestically developed and produced.

He said it was necessary to target Russian space agency Roscosmos as among Russia's "key enterprises" - and that the targeted site was also involved in "electronics production" connected to military operations.

Other sites targeted in the fresh wave of attacks included Savasleyka air base in the Nizhny Novgorod region, which hosts aircraft used to attack Ukraine, as well as an oil facility in Ust-Luga, which lies close to the Estonian border.

"Our plan of long-range sanctions against Russia for this war is being implemented, and it is important that Russia’s war potential be reduced," Zelensky stated.

Ukrainian national media offered this as a backgrounder:

The “Progress” Rocket and Space Center is one of the key enterprises in the Russian Federation’s rocket and space industry, producing launch vehicles of the “Soyuz” family. These are used to launch Russian spacecraft for military, reconnaissance, and communications purposes into orbit.

In particular, the “Soyuz-2.1b” is used to deploy the Russian “Rassvet” satellite constellation – a broadband satellite communications system that Russia positions as an analogue to Starlink.

The Progress Rocket and Space Center also manufactures Earth observation satellites, which the enemy uses for reconnaissance purposes.

Russia also attacked Ukraine overnight, as has long been the norm. Over 150 Russian drones were sent on the country, with Ukrainian forces claiming shootdown or neutralization of 124 of these, according to a military statement.

Ukraine has struck a facility used in the production of Russia’s new satellite internet system.

Kyiv deployed Flamingo cruise missiles to target the Progress Rocket Space Centre in Samara, south-western Russia, in an overnight attack, Volodymyr Zelensky said on Saturday ⤵️… pic.twitter.com/eoalkZcMgz

— The Telegraph (@Telegraph) August 15, 2026

The fresh onslaught resulted in dozens of injures. As for potential casualties inside Russia, little is yet known of this in terms of secretive space and airbase facilities targeted.

Tyler Durden Sat, 08/15/2026 - 14:35

Somali Piracy Surges Amid Hormuz Blockade

Authored by Alex Kimani via OilPrice.com,

The effective closure of the Strait of Hormuz has forced hundreds of commercial ships onto longer routes around Africa, and Somali pirates are moving quickly to exploit the sudden increase in traffic off the continent’s eastern coast. Oil tankers MT Honour 25, MT Eureka and MT Asana were hijacked in the Gulf of Aden and off Puntland between April and July 2026, the largest attacks by Somali pirates in years. The Iran war has now delivered these groups more targets, spread across thousands of miles of ocean, while diverting naval resources to the Persian Gulf and Red Sea.

Somali piracy peaked in 2011 before an international crackdown reduced attacks to a fraction of their former levels. The first major revival came in late 2023, when Houthi attacks in the Red Sea forced hundreds of vessels away from the Suez Canal and around the Cape of Good Hope. And with U.S. forces all diverted to the war against Iran in the Persian Gulf, it’s largely a free-for-all for Somali pirates.  Unlike the disorganized bands of the early 2000s, today's Somali pirates are ranging much farther from shore, and their operations have become much more sophisticated. And perhaps even more concerning, according to reports from a UN panel of experts, there is now direct coordination between Yemeni militants and Somali networks.

In exchange for creating maritime chaos to keep Western navies distracted, the Houthis have supplied Somali pirate cells with advanced weaponry, military training and precision GPS tracking devices to pinpoint commercial hulls. Al-Shabaab--one of the most lethal terrorist groups in Africa--provides onshore logistical backing along parts of the Somali coast where pirate gangs launch operations or hold hijacked vessels. Intelligence reports indicate the group receives a generous cut of up to 30% from successful maritime ransom payouts.

According to a joint study by Interpol, the World Bank and the United Nations Office on Drugs and Crime (UNODC), Horn of Africa piracy generated over $400 million in ransom payments from 179 hijacked ships between 2005 and 2012, averaging roughly $2.23 million per ship. The money follows a structured economy, with pirate crews receiving a standard 10% to 15% fee, local financiers claim 30% to 50% for funding food, fuel and weapons, while the rest is laundered into legitimate businesses, according to the study. And it’s only becoming more lucrative with time. 

A June 30, 2026, analysis by the Global Initiative Against Transnational Organized Crime (GI-TOC) reports that ransom demands have been made for all three commercial vessels hijacked in the current wave.

The demand for Eureka was reportedly $10 million.

Separately, the pirates holding Honour 25 have demanded $3 million for the tanker, cargo and crew. 

GI-TOC says pirates received $1.2 million-$1.5 million for the release of the Chinese fishing vessel Liao Dong Yu 578 in March this year. The same vessel had reportedly generated another $2 million ransom in 2024. GI-TOC says counter-piracy officials believe the latest payment helped catalyze the current wave of attacks.

The Gulf of Guinea is yet another piracy hotspot in Africa thanks to the region’s riches in oil and gas as well as a well-trained militia due the Delta's secessionist movement. While local law enforcement and naval forces have managed to curb attacks in shallower waters, pirates are highly adaptable to new environments. Now, they are using heavily armed mother ships to strike targets well outside state jurisdictions and exclusive economic zones. The region’s pirate networks now operate with military-grade weapons, an intricate shipping intelligence network and complicated financial backing.

War-risk insurance premiums for commercial shipping transiting the Strait of Hormuz and the Persian Gulf spiked by over 1,000%--surging from pre-conflict levels of roughly 0.15%–0.25% of a vessel's value up to 7.5% and 10% per voyage shortly after the closure of the Strait of Hormuz in March.

With African maritime zones highly vulnerable due to a lack of equipment and manpower, and with American forces diverted to the Persian Gulf indefinitely, piracy sees its biggest opportunity yet. It means an African diversion isn’t necessarily going to avoid risk premiums.

Tyler Durden Sat, 08/15/2026 - 14:00

Record Highs: Should You Chase The Rally?

Authored by Lance Roberts via RealInvestmentAdvice.com,

Pinned and Stretched

There is nothing bearish about the tape, and the overall trend could not be much cleaner. The S&P 500 sits above every major moving average and above a rising 200-day line it has not closed beneath since April. That is a healthy, intact uptrend, and it deserves respect. The problem is not the direction, but the distance from the longer-term trend, which is more concerning. As is always the case, deviations above the long-term trend eventually “revert to the mean.” We see it almost every year.

At Friday’s close, the index sat roughly 10% above its 200-day moving average. That is one of the widest gaps of this entire cycle, and it sits about 3.7% above the 50-day line, too. Add our Money Flow and Breadth Indicator at 80%, with 72% of members above their own 200-day average. This market has done a lot of work in a short window. Friday’s quiet fade from record highs is the kind of small caution flag that shows up when a tape gets this extended.

Look at the ceiling first. Price is pressed right against its own record highs, with Thursday’s 7,801 close and 7,817 intraday high just overhead. Above that sits the round 8,000 mark, which also happens to be Goldman’s year-end target. Round numbers act like magnets until they act like ceilings, so that’s where sellers tend to dig in. The floor sits much further away. First support is the 20-day line near 7,585, then the 50-day line near 7,510, both comfortably below Friday’s close. The takeaway is the asymmetry. There’s little cushion above, and plenty of open air below, down to those averages.

Neither support level is very far away, and a pullback to either would be routine housekeeping within an uptrend, not a break of it. The number that matters for risk is lower down. As noted, the gap from here to the rising 200-day line near 7,076 is roughly 10%, and that mean-reversion “air pocket” is the risk. The trend remains up, but momentum is overbought; therefore, entries here offer poor near-term reward relative to risk.

Record Highs: Should You Chase The Rally

Last week in the Bull Bear Report, I flagged that our Money Flow and Breadth Indicator had pushed into extreme overbought territory. This week, it pushed even further.

“As of August 14, 2026, with the S&P 500 at 7,785.76, the Money Flow Breadth Ratio (MFBR) stands at 80% and rising, versus 75% the prior week – a 15 percentage-point increase over the trailing four weeks. This places the indicator in extreme overbought territory (75% or higher). The raw breadth signal still reads BUY, but the MFBR is a contrarian indicator at extremes: readings this stretched have historically been followed by below-average forward returns, so the model treats this as a caution flag rather than a green light to add risk.“

Regardless, the market shrugged, as it tends to do when momentum runs this hot. The S&P 500 is back near record highs, just under 7,800, and suddenly everyone wants back in the pool. So, here is the honest question before us this week:

“Should you keep chasing record highs here, or is the smarter move to participate while quietly managing the risk building underneath it?”

The Inflation Data Just Made The Bulls’ Job Easier

Before we answer that larger question, let’s touch on what changed this week. Both inflation reports came in soft. July CPI rose just 0.1% on the month and 3.4% over the year, with core at 0.2% and 2.5%. The reports were all in line with forecasts, and the shelter reading did most of the lifting, a slow-moving piece that the Fed will likely fade. The next morning, PPI landed flat at 0.0% versus a 0.2% gain expected, and the annual rate cooled to 4.7% from 5.5%. Final demand goods prices actually fell 0.7%. The tariff “passthrough” the hawks keep warning about simply hasn’t shown up in the pipeline yet, a point I walked through in Friday’s commentary.

That data is important, as the upcoming FOMC meeting in September won’t be about rate cuts but rather about a small minority of “hawks” rescinding their previous dissenting opinions. Coming into the week, futures had the September meeting near a coin flip. After the CPI print, the odds of the Fed holding rates jumped to roughly 64%, and the soft PPI only reinforced that move. A hike on September 16 is now the least likely outcome, particularly following very weak employment and retail sales reports.

For stock buyers, a Fed parked on hold removes the one macro tail risk that could have knocked a richly priced tape off course, a surprise hike into record highs. Notably, the recent data isn’t the same as “all clear,” and inflation is still running north of 3% keeps the Fed on hold for now. However, the near-term policy threat is smaller, and that is precisely the backdrop that emboldens buyers.

Speaking of that, let’s talk about who has been buying this market lately.

The Buyer List Behind Record Highs Keeps Growing

Give the bulls their due, because the setup is real. Scott Rubner at Citadel Securities laid out his “buyer checklist” this week, and it keeps getting longer.

Earnings are carrying the load, with Q2 profits for the index growing roughly 33%, one of the steepest revision paths in a quarter century. Furthermore, the forward multiple has actually fallen to about 20x earnings from 23 last October.

In other words, earnings are doing the heavy lifting, not “easy money” multiple expansion. Passive demand never blinked either. Households pushed a record 350 billion dollars into ETFs in July alone, part of 1.6 trillion in year-to-date inflows.

More than a trillion dollars of buyback authorizations reopen this month, and nearly 70% of them sit outside Technology.

When several sources of demand strengthen simultaneously, and selling pressure fades, the path of least resistance is higher. Breadth has healed, volatility has fallen, and the same rule-based strategies that were dumping stocks in the spring can start buying them back. Such is the mechanical reality of this tape right now.

That is the bull case, and it is a compelling one. However, a market where the buyer list is this crowded, moves this fast, and is on the heels of a 26th record high for the year, is also a market where the easy part of the move is behind us. In other words, it is now the marginal new buyer who is “paying up” for exposure near the highs.

Retail Is Back, And Buying What Already Burned It

As noted above, retail investors returned as net buyers across Citadel’s platform with a vengeance, reversing the selling seen at the end of June. However, while participation is back, conviction seems to be lacking. The same traders buying cash equities are still paying up for downside protection. Put buying sits near its highest reading since the March lows, and “what” they are buying is notable. Over the last two weeks, retail’s most-bought names were semiconductors and memory, the exact “story” trades that got cut hard in the summer washout.

We wrote about one flavor of this on Monday in Leveraged ETFs: Math Often Trumps Hype, where a widely shared post pitched a 2x-leveraged SK Hynix fund as “magnified exposure” to a doubling of the stock. The math does not work that way in option-backed ETFs. Daily resets and volatility decay mean a leveraged fund can end a year in the red even when the underlying stock doubles. Buying the same crowded names that already burned you, and doing it with leverage, is not a strategy. It is a “this time is different” bet.

The question, naturally, is if the flows are this strong, why fight them? I am not saying fight them. I am saying do not confuse a strong tape with a safe entry point.

Stretched Breadth: A Reason To Chase Record Highs?

As discussed in yesterday’s Daily Market Commentary, market breadth is very healthy. As noted above, more than 72% of the S&P 500 now trades above its 200-day moving average, the broadest participation since December 2024, up from a washed-out 41% this spring, and cross-stock correlation sits near record lows.

Historically, when more than 50% of stocks are trading above their 200-day moving averages, it indicates a long-term uptrend. As StockCharts has noted for years, readings north of 70% are technically overbought, yet in a real uptrend, overbought stays overbought. Over the next 6-12 months, broad market participation like this has been a tailwind more often than not. Citadel’s own point reinforces this:

“Breadth is rising while cross-stock correlation sits near record lows, indicating a wide market, not a narrow pocket of leadership.”

From a contrarian view, this is also where the risk resides. Elevated breadth by itself has NOT reliably preceded corrections. What precedes them is a divergence, the index pushing to new highs while fewer stocks tag along. We don’t have that today, as breadth is rising into the highs rather than fading beneath them.

Here is what you should take away from this data. The biggest forward returns show up after washed-out lows near 20%, not after the crowd is already all-in near 70%. In other words, breadth predicts risk better than it predicts return. While over the next 3, 6, and 12 months the odds tilt toward higher returns, the next month is the stretch when an overbought tape can correct without changing the larger trend.

That is exactly why this past Monday, we took profits in winners like MSFT across the Equity 60/40 Portfolio and the Dividend Growth Model, and rebalanced the AI, Crypto, and Infrastructure thematic sleeves back toward target weights

The “Supply Of Stock” Nobody Is Talking About

With the market now back to more overbought conditions, what could cause the next correction? Is there a “supply of stock” waiting above current levels, where “trapped longs” who bought the previous semiconductor highs and rode them down into the lows will look to sell the instant they get back to breakeven? The honest answer is: yes, but less than a classic top. In a classical textbook distribution-topping process, the index pushes to record highs while fewer and fewer stocks tag along. That “divergence” is what marks the overhead supply. Currently, we do not see that in the data, particularly with breadth rising into the highs, not fading beneath them.

When overall market participation is high, and prices reach record highs, most of the buyers who were underwater relative to the old highs are getting whole and holding, not dumping. That is the difference between a market building a base of support and one quietly distributing stock to the next greater fool. Do not confuse less supply with no risk, though. Such is where the calendar comes in.

As shown in the chart above, September is typically the weakest month of the year for stocks. Over the last decade, the S&P 500 has averaged a loss in September and finished higher only half the time, the worst reading of any month on the calendar. Now layer the events on top. A September 16 FOMC meeting with a fresh dot plot, a midterm election on November 3 that reliably injects volatility, and a VIX pinned near 14.6 after spiking toward the low 30s in the March selloff. The VIX seasonal pattern points in the same direction. Volatility tends to trough right about now and grind higher into the fall, and it does so more dependably in a midterm year.

A compressed VIX is not a signal to sell. It is a signal that protection is cheap, right before the calendar turns hostile.

Key Catalysts Next Week

Next week hands us the two things this tape cares about most. We get a fresh read on the consumer and the Fed. After Friday’s soft retail sales print, the retail bellwethers offer a real-time answer to the same question. The FOMC minutes hit on Wednesday, and Jackson Hole starts Friday, pushing the rate-path debate back to center stage. All of it lands right before the September 16 meeting.

This week, we also get numbers from key retailers to gauge consumers’ actual health. Are high oil prices finally creating some demand destruction in the economy? Or is slower job growth showing up in consumer spending that suggests the economy is slowing more than expected?

The through-line is simple. Say the retailers echo Friday’s soft sales, and the minutes show a Fed leaning toward patience. Then the “Fed on hold” story we lean on gets firmer footing. If a hawkish surprise turns up at Jackson Hole, the calm priced into that 14-handle VIX gets tested in a hurry. Either way, the playbook holds, and this is a week to hold quality, keep the cash buffer, and let the tape come to us.

What Should Investors Do Now

So what do you actually do with all of this? For now, continue to participate while managing your risk. Those two actions are not in conflict and do coexist successfully. The trend is up, breadth is broad, and the flows are real, so this is not the moment to run to cash. It is the moment to stop chasing record highs and start rebalancing.

Consider the setup on both sides. Goldman just raised its year-end target for the S&P 500 to 8,000, roughly 3% above current levels. However, here is the “risk” for your portfolio: while there is 3% to gain, the market sits roughly 10% above its 200-day moving average, one of the widest stretches of this entire cycle. Pay attention to the math: for every new dollar you invest, you risk $3.33 in losses.

When the upside is a coin-flip 3%, and the downside air pocket is roughly three times larger, committing fresh capital in size into record highs right here is the textbook definition of poor risk-reward. That skew doesn’t argue for selling, but does argue for how you participate, which is why the following tactics make sense.

Does that mean sell everything and hide? No. It means take the gifts the market is handing you now, while it is still handing them out. Such is the discipline that separates managing risk from trying to time the top.

Manage risk into the strength, not after it breaks. I hope this helps.

Tyler Durden Sat, 08/15/2026 - 12:50

Lutnick Draws Red Line: "Great American Companies" Shouldn't Use Chinese Memory Chips

One week after The Wall Street Journal reported that Tim Cook's Apple was testing memory chips from China's CXMT, a company blacklisted by the Pentagon over alleged ties to the People's Liberation Army, the outlet published a follow-up story with an interview with Commerce Secretary Howard Lutnick, who publicly urged Apple not to proceed. The standoff comes as the AI data-center buildout absorbs global memory supplies, driving prices sharply higher and forcing consumer-electronics manufacturers to explore alternative sources.

"The Trump administration is not in favor of that," Lutnick said in an interview after touring a new Apple manufacturing plant in Houston, Texas. There have to be "other solutions to the memory issue, but it's not great American companies using Chinese memory."

Lutnick said he has told Apple "plainly" that US tech giants shouldn't use Chinese memory. Apple has tested chips from CXMT and Yangtze Memory Technologies for potential use in devices sold in China, though Chief Operating Officer Sabih Khan declined to comment on the trials, saying her team must examine "all options."

Apple can buy standardized Chinese memory chips without government approval, but customized components could require licenses.

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

Related:

• Apple Wants To Buy Memory From China As Soaring Chip Prices Spark Inflation Shock

But Lutnick's comments to the WSJ make clear that the White House has, at least for now, withheld that blessing.

Meanwhile, Micron Technology and US senators from states benefiting from planned US memory investments are lobbying the administration to block US tech giants from procuring Chinese memory chips, warning that doing so would undermine domestic production and national security.

The WSJ previously reported that other device companies are also seeking supplies from CXMT:

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.

Back to the Lutnick interview from Friday, the outlet reported:

Even so, Lutnick, who is spearheading the administration's plan to increase domestic chipmaking, said the administration continued to press Apple to bring more production to the U.S. 

"Relentlessly, more and more and more," he said, describing the pressure. "They've built their supply chains on low-cost labor. And now they need to build a supply chain on advanced manufacturing. Can Apple do it? Of course they can." 

"You're going to see step by step, and piece by piece, they're going to bring significant portions of their business home," Lutnick said. 

Most of Apple's supply chain is in Asia, and the company has been working with contract manufacturers to build new iPhone assembly plants in India.

Asked if Apple has any plans to bring iPhone production to the U.S., Khan pointed to efforts the company has already made, including commitments to spend tens of billions of dollars on made-in-USA chips for iPhones, as well as adding an assembly line for Apple's popular Mac Mini desktop computer in Texas. He also said Apple was focused on helping chip manufacturers reshore their supply chain end to end.

To sum up, Apple does not appear to have the White House's blessing to use Chinese memory chips, leaving the company with fewer options to offset soaring component costs and signaling continued upward pressure on product prices.

Tyler Durden Sat, 08/15/2026 - 12:15

The Gold Tax Surprise: When Gold Profits Get Taxed At 28 Percent

Authored by Adam H. Douglas via The Epoch Times,

If you bought gold during its 2023-2026 rally, you may be sitting on a large profit and a tax rule you have never heard of.

Gold’s tax treatment can surprise investors, especially when selling after a major rally. Nattapon Saisaard/shutterstock

The IRS classifies physical gold, and even the popular bullion-backed gold exchange-traded funds (ETFs), as collectibles, a category shared with art, stamps, and antiques. That classification changes the tax bill when you sell. Most holders discover it at the worst possible moment: after the sale, when nothing can be done.

Here is the rule to understand before you sign anything.

Quick Answer: How Is Gold Taxed When You Sell?

Long-term gains on physical gold and bullion-backed ETFs are taxed as collectibles: at your ordinary income tax rate, capped at a maximum of 28 percent. That cap is the part many investors misunderstand and what a lot of media coverage gets wrong. If you are in the 12 percent bracket, you pay 12 percent, not 28 percent. The 28 percent figure only bites investors whose ordinary rate would otherwise be higher, and it compares unfavorably to the 15 or 20 percent long-term rates on gains on stocks.

Gold held for one year or less generally produces short-term gain taxed at ordinary income rates. State tax and, for some higher-income taxpayers, the 3.8 percent net investment income tax may apply separately. Choosing the year you sell can be a structural advantage, so learn the rules first.

The 28 Percent Rule - The Details

Two important details about the 28 percent rule:

• It's a ceiling, not a flat rate. Long-term collectibles gains are taxed at whatever your ordinary rate is, up to 28 percent. Many retirees selling in a modest-income year owe far less than the headline rate.
• It only applies after one year. If you sell gold that was held for a year or less, the gain is short-term, taxed as plain ordinary income with no cap benefit at all. For someone in the 35 percent bracket, selling a month early costs more in tax than if they were to wait another month.

Higher earners should also budget for the 3.8 percent net investment income surtax and any state income tax, which stack on top for gold just as they do for stocks.

The Same 'Gold' Is Taxed Three Different Ways

The ETF row surprises the most people. Funds that hold physical bars in a vault are typically structured as grantor trusts, so the IRS looks straight through the fund wrapper to the metal inside. You never touched a coin, but you are taxed as if you had.

Mining stocks, by contrast, are shares of companies, taxed like any other stock. Gold in a traditional IRA or 401(k) is generally taxed as ordinary income when withdrawn, not at the collectibles rate. Roth treatment differs.

Cost Basis: Where Sellers Save or Lose Thousands

You are taxed on the gain, not the sale price, and the gain depends on your cost basis. Basis generally starts with what you actually paid for the gold, including any dealer premium and applicable acquisition costs, not merely the spot price. A seller who reports only the spot price on the purchase date overpays.

The classic problem arises from coins bought for cash years ago. If you cannot document what you paid, the IRS may treat your basis as zero and tax the entire sale price. Before selling, gather what you can:

• Dealer invoices and receipts, the gold standard of proof
• Credit card or bank statements showing the purchase
• Records of the date acquired, so you can reconstruct the price and premium from that day

Even partial reconstruction beats nothing, and a folder of paperwork assembled before the sale is worth thousands after it.

Inherited Gold and Gifted Gold Are Opposites

These two get confused constantly, and the difference is the whole tax bill. Inherited gold generally receives a stepped-up basis: Your cost resets to the market value on the date of death, and the holding period is automatically long-term, so selling soon after often produces little or no taxable gain.

Gifted gold is the trap. It carries over the giver's original basis and holding period, so if mom hands you coins she bought decades ago, and you sell, you owe tax on all those decades of appreciation. Families deciding whether to give gold now or leave it later should understand they are choosing between those two treatments.

The Deadline You Choose

Almost every other tax rule happens to you on someone else's schedule. This one waits for your signature. You decide the year the gain lands, which means you can sell in a lower-income year, split a large sale across two tax years, or confirm your documentation first.

Knowing the collectibles rule before the sale, rather than after, is the entire game.

FAQs About the Gold Collectibles Tax Rate Does Everyone Pay 28 Percent on Gold Profits?

The 28 percent figure is a maximum, not a flat rate. Long-term gains on gold are taxed at your ordinary income rate, capped at 28 percent, so a seller in the 12 or 22 percent bracket pays that lower rate. The cap only matters for investors whose ordinary rate would exceed 28 percent. Short-term gains, on gold held for a year or less, get no cap at all and are taxed as regular income.

Are Gold ETFs Really Taxed as Collectibles?

The physically backed gold ETFs are taxed as collectibles. ETFs that hold bullion in vaults are generally structured as grantor trusts, so shareholders are treated as owning a slice of the metal itself, and long-term gains face the collectibles rate of up to 28 percent. Funds that hold mining stocks are taxed as ordinary equity funds at 15 or 20 percent. Check the fund's tax documentation before assuming, because the ticker alone does not tell you.

What If I Have No Receipts for Gold I Bought in Cash?

Act before you sell. Search for any payment records, dealer correspondence, or notes establishing when you bought your gold, then reconstruct the price and typical premium from that date. Documented partial basis is far better than none, because without any support, the IRS can treat your basis as zero and tax the full sale amount. For large holdings, a tax professional can help you build a defensible basis file.

Does the IRS Know When I Sell Gold?

Form 1099-B reporting depends on the transaction, the dealer's status as a broker, the form of the metal, and applicable quantity thresholds. Current IRS instructions provide exceptions for many precious-metals sales, including transactions below the minimum quantity required for a CFTC-approved regulated futures contract (CFTC stands for the Commodity Futures Trading Commission); related sales within 24 hours, however, may be aggregated. Regardless of whether a Form 1099-B is issued, you must report a taxable gain or loss.

Tyler Durden Sat, 08/15/2026 - 11:40

Socialism Simplified: A System Where Government Uses Your Money To Solve Everyone Else's Problems

Authored by Michael Snyder via The Economic Collapse blog,

They are coming for your money, and they have a ton of momentum right now. Democratic Socialists are winning election after election by promising free stuff, but of course free stuff is never actually free. Somewhere along the way, someone has to pay for it. If you find yourself protectively reaching for your wallet as you read this, I don’t blame you one bit. Socialism is a system where the government uses your money to solve everyone else’s problems. Unfortunately, it is also a system that is becoming increasingly popular among our young adults.

In a previous article, I noted that a poll that was taken in 2025 found that a whopping 62 percent of U.S. adults under the age of 30 now have a positive view of socialism.

That should chill you to the core.

Meanwhile, Americans view capitalism less favorably than they once did…

• Fewer than half of Americans say capitalism is working even “somewhat” well — down from 60% about a decade ago, according to a June Wall Street Journal-NORC poll.

• 61% of Americans said they were bothered “a lot” by the feeling that the wealthy don’t pay their fair share in taxes, per a Pew Research Center poll in January. That included 41% of Republicans and GOP-leaning independents.

• The same poll showed another 60% overall — and 42% of Republican-inclined voters — said the same about some corporations paying their fair share.

• And views of big business went from 19 points positive in 2012 (58%-39%) to 25 points negative last year (37%-62%), according to the Gallup data.

This is crazy.

So why is this happening?

Well, the truth is that a large portion of the population is very frustrated with the economy.

The rising cost of living has been absolutely eviscerating the middle class, and many young adults consider homeownership to be completely out of reach because home prices are so absurdly high.

When someone comes along and starts promising all sorts of free stuff in this very harsh economic environment, it can be very seductive.

But if the Democratic Socialists of America were actually able to implement their entire agenda on the federal level, it would more than triple federal spending…

The Democratic Socialists of America (DSA) propose new spending that could more than triple federal outlays. They propose the government pay for health care, housing, higher education, and electricity. Jobs are government-guaranteed, retirement benefits are expanded, paid family leave is universal, fossil fuels are eliminated, and reparations are paid.

The DSA platform claims that the bill for all this will be sent to “the richest individuals and corporations.” Tally up that bill, and it ballparks between $71 trillion and $212 trillion in new spending over the next decade. Confiscating every dollar of high-end wealth and corporate profits would cover only a fraction of those costs. The DSA agenda necessitates high taxes on middle-class Americans.

If you took every penny from every billionaire in America, that would only account for 8.4 trillion dollars.

So where is the rest of the money going to come from?

They don’t have an answer to that question, but they have been winning major races all over the country.

And now a 37-year-old Democratic Socialist named Francesca Hong is favored to win Wisconsin’s Democratic gubernatorial primary…

The 37-year-old restaurateur and chef-turned-member of the state Assembly is leading in polls by relatively wide margins ahead of Tuesday’s Democratic gubernatorial primary. Hong, a member of the Democratic Socialists of America who represents the famously liberal state capital of Madison, comes equipped with politically problematic tweets covering everything from abolishing the police to the racist origins of Thanksgiving.

It is hard to believe that someone like that could actually become the next governor of Wisconsin.

I wouldn’t even hire her to run a Dairy Queen.

But this is where we are at as a society, and it appears that lots of Democratic Socialists will be heading to D.C. after the midterm elections.

In 2026, Democratic Socialists have been repeatedly winning primaries in deep blue congressional districts…

• Claire Valdez (New York – 7th District): Won the Democratic primary in an open congressional race.

• Darializa Avila Chevalier (New York – 13th District): Defeated a 30-year progressive incumbent in a highly publicized upset.

• Melat Kiros (Colorado – 1st District): Defeated long-time incumbent Representative Diana DeGette in the Denver-based Democratic primary.

• Christopher Rabb (Pennsylvania – 3rd District): Won the open Democratic primary race for this Philadelphia-based congressional seat.

• Donavan McKinney (Michigan – 13th District): Unseated incumbent Representative Shri Thanedar in the Michigan Democratic primary.

What will D.C. look like if the Democrats take back both the House and the Senate?

Some of the Democrats that are running for seats in Congress appear to be absolutely psychotic.

If there is a major progressive wave in the fall, that could potentially make Alexandria Ocasio-Cortez one of the frontrunners for the Democratic presidential nomination in 2028.

As Ben Shapiro has aptly pointed out, she seems to be pushing a new version of “woke” that is more palatable to many Americans…

Woke 1.0 forced Americans to say, “Am I racist or am I not?” Woke 2.0 is, “Is American capitalism inherently corrupting and bad? Is the West’s system of freedoms and free markets inherently imperialistic, colonialist, genocidal, and racist?”

It’s easier to pitch woke 2.0 than woke 1.0. Why? Americans have been convinced over the course of the last 25 years or so that America is the bad guy, that we and our allies are fundamentally evil, that our foreign policy decisions of the past two decades and maybe longer, going all the way back to World War II, according to some, are actually terrible and horrible, and we’re the bad guys in the world.

Add the economic angst right now, combine those two things, and you get woke 2.0, Ocasio-Cortez’s new program. It is about hatred of America.

But no matter how AOC may want to market it, the content is still the same.

In so many ways, the socialists want to turn our country completely upside down and make it the exact opposite of what it once was.

They intend to do this by taking over the Democratic Party.

Democratic Socialists always run for office as Democrats, and most of them openly identify themselves as Democrats…

Self-identified democratic socialists do not see socialism as being mutually exclusive and continue to identify with other terms on the left, including more mainstream Democratic labels. Of Socialist Democrats, 92% consider themselves to also be Democrats, 84% consider themselves to also be Obama Democrats, and 80% consider themselves to also be progressive.

We are being told that there is a civil war in the Democratic Party, but the truth is that the differences between “mainstream Democrats” and Democratic Socialists are not actually that significant these days.

They are all heading in the same direction. Mostly, their disagreements are about how far to go and how fast it will take to get there.

We already have the biggest government in human history, but they want to make it even bigger.

But socialism doesn’t work.

As Margaret Thatcher once warned, the problem with socialism is that the socialists always eventually run out of other people’s money to spend.

Considering the fact that we are nearly 40 trillion dollars in debt, our country is rapidly approaching that point too.

Michael’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

Tyler Durden Sat, 08/15/2026 - 10:30

Post-Maduro Venezuela Wants Its $4BN In Gold Back From England

Venezuela wants its gold back. And now with Maduro having been removed and Caracas being essentially a puppet of Washington influence and interests, it has a much better chance at this than ever before.

Venezuela’s government and opposition are teaming up to wrest back $4 billion in gold bullion currently locked in the Bank of England’s vaults, according to a Friday report by the Financial Times.

Bank Of England/Shutterstock

A freshly issued joint statement confirmed they are actively working "to recover Venezuela's international reserve assets held in the Bank of England."

If successfully repatriated, the funds are slated in part for post-earthquake reconstruction efforts and to soften the blow of years of US sanctions, which still haven't actually been fully lifted.

The funds have been the subject of a lengthy court battle, after since 2018 the United Kingdom has blocked access by denying recognition to Venezuela’s revolutionary socialist government.

Despite Maduro having been ousted by a US military operation last January during a shock overnight military raid on the capital, the Bank of England is demanding absolute legal clarity on who actually holds the reins of power in Venezuela before agreeing to open up the vaults.

An unnamed opposition figure revealed to the FT that both factions are hashing out a "transparency mechanism" designed to ensure the billion-dollar windfall isn't quietly siphoned off.

President Delcy Rodriguez, who was Maduro's former VP, has made personal request to King Charles for the gold:

The bullion has been the ​subject of a long-running legal battle in British courts, and it has not been released despite Maduro's capture by the U.S. in January and a ​request by acting President Delcy Rodriguez to King Charles.

The South American ​nation was hit by devastating twin earthquakes at the end of June that killed ‌more ⁠than 6,000 people.

Rodriguez said the government and lawmakers had agreed to focus on projects aimed at rebuilding households, health capacities, electricity availability and clearing rubble, and to this end, "concentrate efforts to promote ​the recovery of ​Venezuela's international assets ⁠in the Bank of England."

Venezuela had long charged England with "theft" as part of a regime change agenda aimed at the former government, which Washington had finally effected early this year.

For the first time there is no longer a clean "we don’t know who the legitimate government is" excuse... The value of the gold roughly doubled while it was frozen.

This is a perfect case study in how physical resource control actually works.

Since 2018–19 the UK has refused to release roughly 31 tonnes of Venezuelan gold sitting in the Bank of England vaults — now worth around $4 billion — because London did not recognise the Maduro… https://t.co/GzMdOquAbS

— ResourceGeopolitics (@ResGeoPol) August 14, 2026

Under Rodriguez, the socialist system does remain in place, however Caracas has shown itself to now side with the US and West on a variety of foreign policy issues - from shifting its outlook on Israel, as well as distancing itself from Russia, China and Iran.

Tyler Durden Sat, 08/15/2026 - 09:55

China Copies America's Futuristic "Sub-Second Detect-To-Fire" Anti-Drone Swarm Dome Gun

China appears to have replicated a next-generation counter-drone system we first covered in mid-July. The system uses a multi-barrel hemispherical array that reduces much of the latency associated with conventional turrets, shortening the sensor-to-shooter engagement cycle. Beijing's apparent interest reflects the design's potential as a next-generation counter-UAS system capable of engaging drone swarms approaching simultaneously from multiple directions.

X user Drone Wars revealed that Chongqing Jianshe Industry, a Chinese state-owned arms manufacturer specializing in light weapons, developed a multi-barrel weapon concept designed to counter drones approaching from multiple directions.

Drone Wars added more color:

The patent describes several barrel assemblies connected to a common propellant chamber. Each assembly uses a feed tube containing spherical projectiles, with a spring mechanism automatically moving the next projectile into position after firing. According to the design, propellant gas drives a locking block during firing, closing the feed opening and preventing gas from escaping. Once pressure drops, a return spring moves the block back, reopening the feed path and allowing the next projectile to enter the firing position. The concept reportedly allows multiple barrel assemblies to be mounted at different angles, enabling simultaneous fire in several directions. The design appears intended to increase the likelihood of engaging small drones approaching from different angles.

China’s Chongqing Jianshe Industry (Group) Co., Ltd. has reportedly developed a multi-barrel concept intended for countering unmanned aerial vehicles.

The patent describes several barrel assemblies connected to a common propellant chamber. Each assembly uses a feed tube… pic.twitter.com/AfBCMVNZTv

— Drone Wars (@Drone_Wars_) August 13, 2026

Circling back to our report last month, titled "Sub-Second Detect-To-Fire": Futuristic Dome Turret Could Be US Military's Answer To Drone Swarms, China's answer to Picket Defense Systems' multi-barrel hemispherical array appears very similar.

"Fixed multi-barrel hemispherical array: no slewing delay. Sub-second detect-to-fire. No dead zones, no blind spots, no reaction time," Picket wrote in a slide deck.

This week in the counter-UAS market, Northrop Grumman unveiled a chain gun designed to defend critical infrastructure from drone swarms.

The skies are changing. Defending against one threat isn’t enough anymore. Our Raid Hunter™ is built to meet the challenge with precision-guided gunfire and the speed needed to help protect what’s critical. pic.twitter.com/Meuqyg04oY

— Northrop Grumman (@northropgrumman) August 11, 2026

We suspect a procurement supercycle for drone and counter-drone systems will kick off next year.

How to profit:

• "Only The Beginning": How To Profit From The Asymmetric Warfare Boom
• Unusual Machines Jumps After Trump Slaps 100% Drone Tariff In "Hard Decoupling" From China
• This American Drone-Motor Company Is Positioned For "Massive Procurement Tailwind"
• Wall Street Zeroes In On This "Pure-Play" US Attack Drone Company

Drone swarms with fully automated kill chains will only increase demand for next-generation counter-UAS systems, such as multi-barrel hemispherical arrays.

Tyler Durden Sat, 08/15/2026 - 08:45

War On Rowling Continues (Sans Facts)

Authored by Christian Toto via American Greatness,

Journalists love to ask two questions spun from the same unhinged premise.

Do you support trans women in women's sports, and do you agree with author J.K. Rowling's "anti-trans" views?

The former bullies athletes for passing Biology 101. The latter targets the Harry Potter author at every possible turn.

We're seeing both in action of late. Indiana Fever guard Sophie Cunningham is under media assault for sharing a simple truth about men in women's sports, a fact supported by science at every turn.

"She's MAGA Barbie," select outlets cry!

Rowling is under a fresh attack from an actor lucky enough to snag a role in HBO Max's hotly anticipated Harry Potter TV series. Bel Powley, who plays Petunia Dursley in the upcoming series, told The Telegraph that she "strongly disagrees" with Rowling's position on trans issues.

"I strongly disagree with J.K. Rowling's views on gender. I think that the trans community deserves safety and dignity and respect and total acceptance ... but I love Harry Potter. I grew up with the books. I am from that first generation of readers and, again, I love magic and spookiness."

That's why Powley took the gig. That, and the paycheck, of course. It's likely that The Telegraph asked Powley about the Rowling issue and that the actress didn't bring it up on her own.

Either way, it's part of a larger, disturbing media trend. Reporters describe anyone who doesn't embrace the whole activist trans agenda as "anti-trans." And they never ask the person in question to share specifics on what they're criticizing or recite the actual comments by the "villain" du jour.

For Cunningham, that means her critics won't admit the obvious. Men have clear, distinct biological advantages that don't vanish if they embrace "womanhood" or take hormones. Cunningham spoke very clearly on the issue. She did so without malice or political rhetoric.

The media and the Left, but we repeat ourselves, targeted her anyway.

Rowling also has been very careful in her language on trans issues. She doesn't wish the trans community harm. Her initial statements on the subject were kind and hardly alienating.

She simply understands the need for separate spaces for biological women while acknowledging the physiological differences between male and female athletes.

Oh, and she's faced frequent death threats for sharing her commonsense opinions.

Here's what Rowling wrote in 2020, responding to the very early stages of the Left's war on the beloved author.

"Trans people need and deserve protection. Like women, they're most likely to be killed by sexual partners. Trans women who work in the sex industry, particularly trans women of colour, are at particular risk...I feel nothing but empathy and solidarity with trans women who've been abused by men."

Does that sound cruel or hateful? Hardly. Did Powley read Rowling's long, personal essay on the subject back in 2020? Has she read it lately? Unlikely.

The same is likely true for John Lithgow. The veteran actor plays Professor Dumbledore in the series, and he, too, has been coaxed into savaging Rowling for her trans views. They're "inexplicable," Lithgow said. Has he tried speaking with her directly? She's a key player behind the scenes of the new HBO Max show.

Why not start there?

Has he read everything she's said on the matter? Where does he agree or disagree? It's fine to disagree, of course, but he must know the intense cancellation movement she's faced in recent years.

Or does he realize that the "safe" position in Hollywood for anyone, let alone an 80-year-old actor, is to slam Rowling and leave any critical facts out of the conversation?

To be fair, the legacy media does just that, too.

Christian Toto is the editor of HollywoodInToto.com - "The Right Take on Entertainment." He's an award-winning journalist and movie critic whose film reviews are heard on radio stations across the country. He co-hosts Denver's Mike Rosen at the Movies radio show on KOA NewsRadio as well as the weekly "Hollyweird" segment on The Michael Brown Show.

Tyler Durden Sat, 08/15/2026 - 08:10

North Korea Rages At Upcoming US Drills: "Rehearsal For Aggressive War"

North Korea has issued a severe warning over the upcoming joint military exercise between the United States and South Korea, characterizing it as a rehearsal for an aggressive war and that it is is ready to respond.

North Korea's Foreign Ministry described Friday that these planned drills look different, and will be more dangerous, compared to all prior ones of the past-half decade, in that they appear offensive in nature as the exercise will focus on modern warfare tactics.

The Associated Press

The 10-day Ulchi Freedom Shield exercise will kick off this coming Monday, August 17, and will see tens of thousands of military personnel from the United States, South Korea participate - but also other allied countries such as Australia.

"The US announced that the forthcoming exercises are quite different from the ones of the past five years and intended to master the ability of fighting a war on the basis of the new aspects of modern warfare," the North Korea condemnation reads. 

"By doing so, it did not conceal its aim to complete preparations for the substantial military confrontation with the DPRK. This is tantamount to an admission that the exercises, which the US and the ROK describe as 'annual' and 'defensive' ones, are a rehearsal for an aggressive war," the ministry added in a statement published by Korean Central News Agency (KCNA).

US military magazine Stripes has admitted that growing North Korean defense cooperation with Russia has given new impetus and shape to the joint war games:

North Korea’s growing military partnership with Russia and the battlefield experience its troops have gained in the war with Ukraine is shaping how U.S. and South Korean forces prepare for a potential conflict on the peninsula, a senior United Nations Command officer said Thursday.

Australian army Lt. Gen. Scott Winter, deputy commander of U.N. Command, said the allies are accounting for Pyongyang’s increased use of technology, its ballistic-missile development and lessons learned by North Korean troops supporting Russia as they prepare for Monday’s start of Ulchi Freedom Shield.

The command is "very conscious" that North Korea has used its relationship with Moscow as an opportunity to test ballistic missile systems and gain contemporary battlefield experience, Winter told reporters during a briefing on the exercise at the Press Center in Seoul.

Meanwhile North Korea has further stated: "It is our consistent principle of ensuring security to respond to a new level of a threat with a new level of a deterrent," and so the country "will more clearly express its stance on the enemies to cope with any threats and challenges through the responsible and decisive exercise of the right to legitimate self-defense."

North Korea threatens 'overwhelming' response to US-South Korea joint military drills — KCNA

Pyongyang claims the exercise that begins August 17 is not merely 'defensive' but rather 'provocative', simulating modern warfare, including drone, electronic and cyber operations pic.twitter.com/D9cjx5OcgC

— RT Intl (@RT_on_X) August 14, 2026

In Ukraine, President Zelensky has this month been highlighting a deepening role by Pyongyang in helping Russia militarily, including alleged use of North Korean ballistic missiles on Ukrainian cities.

Interestingly, Zelensky is using this narrative to try and goad South Korea into changing its policy and export heavy weapons, including anti-air defenses, to Ukraine.

Tyler Durden Sat, 08/15/2026 - 07:35