Zero Hedge

Is Your Data Held Hostage? There's A Ransomware Negotiator For That

Is Your Data Held Hostage? There's A Ransomware Negotiator For That

Authored by Chris Summers via The Epoch Times (emphasis ours),

Mark Lance’s phone rings when a company’s data is being held hostage. Often, the perpetrators are demanding a ransom to return sensitive information.

Mark Lance, a ransomware negotiator with Guidepoint Security, said early intervention is key in cyberattacks, as it helps manage expectations and outline options for victims. Courtesy of Guidepoint Security

“The largest demand for one of our victims was $70 million,” said Lance, a ransomware negotiator with Virginia-based Guidepoint Security.

Failure to pay is under the threat that the company’s information will be made public.

“The earlier we get engaged, the better,” Lance told The Epoch Times.

“In most circumstances … a client has already recognized that they’ve been a victim—they’ve been informed via ransom notes,” he said.

“We help people recognize that even if there’s no intent on paying a ransom, there’s a tremendous amount of value in engaging the cyber criminals, because … you can still do things like delay the inevitable release of their information, which will allow for more time for the forensics and incident response work stream to make sure that they are patched.”

Cyber attacks, usually involving ransomware, are being perpetrated against corporations and state-owned agencies in the United States every day.

In the first half of 2025, a Comparitech report shows 208 ransomware attacks on government agencies globally, a 65 percent increase from the same period of 2024.

Ransomware is a type of malicious software—or malware—that prevents a user from accessing his or her computer files, systems, or networks and demands that he or she pay a ransom for their return, according to the FBI.

The average cost to the victim of a ransomware attack has risen from $761,106 in 2019 to an estimated $5.13 million in 2025, according toPurpleSec, a U.S.-based cybersecurity company.

That includes the ransom payment itself, the recovery costs, and various indirect costs such as reputational damage.

Lance, who has worked in cybersecurity for 25 years, said when he is called in at the early stage of an attack, the victim is usually still performing a business impact analysis.

“They’re not necessarily sure what has fully transpired or has occurred within their environment, to know what they potentially need to do as next steps,” he said.

By “environment,” Lance means all the hardware, software, and networks that support an organization’s operating systems.

He said a ransomware negotiator can manage expectations and give the victim an idea of their options.

He said he can buy valuable time, and also allow the victim to work with legal counsel to determine what sort of disclosure they are going to have to make to the public, to stockholders, to the Securities and Exchange Commission (SEC), and other regulators.

Lance said the threat actors also have to provide some sort of evidence that they have accessed the victim’s data, and will have to provide a file tree, which is a map of directories leading to the files they have accessed.

“We can gather and glean information from those communications that can be shared, that they might not have otherwise. But yeah, the earlier [we are brought in], the better,” he said.

Jeanette Manfra, chief cybersecurity official for the Department of Homeland Security, speaks during a briefing at the White House on Dec. 19, 2017. Manfra announced that the United States believes North Korea was behind the global WannaCry cyberattacks. Saul Loeb/AFP via Getty Images

Lance said at an early stage he tries to figure out what the client wants from the communication with the ransomware gang, “and then we develop a strategy around that.”

He said the initial strategy might be simply to delay while they find out more about the attack and how serious it is in terms of consequences.

He said the victim might later decide they are willing to make a ransom payment, and he said, “Then our strategy changes into how we’re negotiating terms, like, do they need it quickly? Or do we have time? So our strategy will change based on the needs of the client and what they’re trying to get out of it.”

Cyber Ransom Notes

Most often, the ransom note is left as a message on an individual system, Lance said. The note will usually advise the victim not to try to touch any of the IT systems and to download a Tor browser, go to a website on the darknet, and initiate communications with the ransomware attackers.

Read the rest here...

Tyler Durden Mon, 08/11/2025 - 17:40

Man's Private Plane Repeatedly Stolen For Joyrides, Then Repaired, By Unknown Stranger

Man's Private Plane Repeatedly Stolen For Joyrides, Then Repaired, By Unknown Stranger

Here's one you don't see every day. A baffling aviation mystery has left 75-year-old Jason Hong both confused and frustrated: an unknown stranger has repeatedly stolen his plane, flown it without incident, landed it flawlessly — and even repaired it, according to Local 12.

Hong told the Los Angeles Times the saga began when he first noticed the plane was gone. "I got confused," he recalled. "I thought, 'did I park it somewhere else, did the airport manager move it?' But I looked all over." Two days later, the aircraft turned up about 25 miles away, unscathed except for some cigarette butts in the cabin.

The Local 12 report says that, determined to prevent a repeat theft, Hong removed the battery and planned to check back the following weekend.

But when he returned, the plane was missing again — this time found 18 miles from the thief’s first landing spot. Even stranger, the battery had been replaced with a new one.

Using a flight-tracking app, Hong discovered that both joyrides occurred on his 75th birthday. With no security cameras at the airports, authorities have been unable to identify the culprit.

Hong suspects the thief has significant flying experience, noting that "landing is not easy" and replacing a plane’s battery requires specialized tools and knowledge. He estimates the intruder spent hundreds of dollars on the new battery, tools, and even a headset found in the cockpit.

"Someone breaks into your house, they're looking for jewelry or cash right?" Hong said. "But in this case, what's the purpose? It's like someone breaks my window, and then they put a new one up."

One pilot at the second airport claimed to have seen a woman in her 40s or 50s sitting in the cockpit rather than in the lounge. Hong has now chained the aircraft in place until a full inspection can be completed.

Tyler Durden Mon, 08/11/2025 - 17:20

DHS Remembers Victims Of Serious Crimes Committed By Illegal Immigrants

DHS Remembers Victims Of Serious Crimes Committed By Illegal Immigrants

Authored by Yeny Sora Robles via The Epoch Times (emphasis ours),

The Department of Homeland Security (DHS) on Aug. 6 commemorated the victims of fatalities and serious crimes committed this year by illegal immigrants in the United States.

The Department of Homeland Security in Washington on Aug. 12, 2024. Madalina Vasiliu/The Epoch Times

“For too long, politicians turned a blind eye to the suffering of American citizens while protecting criminal illegal aliens. That ended on January 20,” the department’s Assistant Secretary Tricia McLaughlin said in an Aug. 6 statement.

“Under President [Donald] Trump and Secretary [Kristi] Noem, DHS is standing with the victims—not depraved criminal illegal aliens,” she added.

DHS honored “the strength and resilience” of the victims and their families affected by crimes committed by illegal immigrants.

“Behind every one of these crimes is a victim and their family left to rebuild their lives after unimaginable loss, suffering, and brutality,” McLaughlin said.

Among the victims remembered in the statement are girls, adolescents, women, and men, including officials and ICE officers.

Luis Jocsan Nanez López, 15, was shot and killed on July 20 while trying to protect his mother from an attempted rape, allegedly by Mexican national Gildardo Amandor-Martínez in Kentucky. Amandor-Martínez also allegedly assaulted Luis’s sister with a firearm. Martinez made two failed attempts to enter the United States, but on the third attempt, he was able to enter at an unknown date and location.

Megan Bos, 37, was found decapitated in a bleach-filled container in Illinois in April, after being reported missing on March 9. The alleged perpetrator was identified as Luis Mendoza-González, from Mexico.

Santiago López Morales, 48, was murdered at a Motel 6 in Garland, Texas, in June 2025. DHS confirmed that the suspects in the crime are three Venezuelan men identified as Yosguar Aponte-Jiménez, José Trivino-Cruz, and Jesús Bellorín-Guzmán.

Hallie Helgeson, 18, and Brady Heiling, 19, died in a car crash in Wisconsin in 2025, caused by a suspected drunk driver, Noelia Saray Martínez-Avila, from Honduras.

Maria Pleitez, 42, and her 11-year-old daughter, Dayanara, died in a car crash in New Jersey in 2025. Mexican national Raúl Luna-Pérez is suspected of driving under the influence and causing the deaths.

An unnamed woman was sexually assaulted on July 2, allegedly by José Maldonado-Zavala, a native of Honduras, at an apartment complex in Houston, Texas. According to records, Maldonado-Zavala falsely claimed the victim’s air conditioning was leaking into his apartment. He then forcibly grabbed her arm, dragged her into his residence against her will, and sexually assaulted her; she fought off the attacker and managed to flee.

A 17-year-old girl was harassed and raped, allegedly by a transgender illegal immigrant from Colombia who presents as a woman, Nicol Alexandra Contreras-Suarez. Contreras-Suarez was charged with rape of a minor and harassment in Columbia, New York, in 2025.

A man suffered life-threatening stab wounds after being attacked during a public soccer game, allegedly by Jefferson Javier López-Tinoco of Honduras, in Maryland in 2025.

A U.S. Customs and Border Protection officer was shot in the arm and cheek during an attempted armed robbery in New York in 2025, allegedly by Cristian Aybar Berroa and Miguel Francisco Mora Núñez from the Dominican Republic.

A U.S. government official was harassed in Virginia in 2025, allegedly by José Madrid Reyes of El Salvador.

In 2018, a woman was sexually assaulted in Oregon while walking on Independence Day by Kevin Contreras-Mendoza of Mexico.

DHS said it reinforced its commitment to restoring security in the country and sent a message of support to all victims and families affected by crimes committed by illegal immigrants.

Tyler Durden Mon, 08/11/2025 - 17:00

Chaos In South China Sea: China Rams Own Warship While In Pursuit Of Philippine Vessel

Chaos In South China Sea: China Rams Own Warship While In Pursuit Of Philippine Vessel

Dramatic footage has emerged showing two Chinese navy vessels colliding while chasing a Philippine patrol boat near Scarborough Shoal in the South China Sea on Monday - an area considered by some as a geopolitical flashpoint between Manila and Beijing. 

"The (China Coast Guard vessel) CCG 3104, which was chasing the (Filipino coast guard vessel) BRP Suluan at high speed, performed a risky manoeuvre from the (Philippine) vessel's starboard quarter, leading to the impact with the PLA (People's Liberation Army) Navy warship," Philippine Coast Guard (PCG) officer Jay Tarriela said in a statement, quoted by AFP News. 

"This resulted in substantial damage to the CCG vessel's forecastle, rendering it unseaworthy," Tarriela said.

Tarriela released the footage on X. He described what unfolded:

Here is a longer video capturing the collision between the PLA Navy 164 and the China Coast Guard 3104. The Philippine Coast Guard (PCG) has consistently urged the Chinese government to respect the COLREGS and to approach these matters with professionalism, especially considering their role in enforcing maritime laws. We have also emphasized that such reckless behavior at sea could ultimately lead to accidents. Our thoughts are with the CCG personnel who may have been injured in this incident. 

The incident is the latest in a series of dangerous encounters in the South China Sea that could easily trigger broader conflict. Tensions in the area have been rising since Beijing seized Scarborough Shoal in 2012.

Related: 

All of this plays into a broader theme of a more chaotic world heading into the 2030s, with the global order fracturing into a dangerous bipolar state. 

Tyler Durden Mon, 08/11/2025 - 16:40

RussiaGate: 'A Murder Of American Democracy Was Committed'

RussiaGate: 'A Murder Of American Democracy Was Committed'

Authored by James Howard Kunstler,

Under Color Of Law

"The second-order and third-order damages of RussiaGate are incalculable. A murder of American democracy was committed."

- Mike Benz on "X"

Surely you’ve noticed the ominous cone of silence around the DOJ and the FBI as rumors of “accountability” mount against well-known figures who used government to make war against its own citizens. That is exactly what happened, by the way, in case you’re baffled by the news. The agencies aren’t leaking this time, especially not to the mendacious scribes that infest The New York Times and The WashPo, who function as vanguard to the corps of traitors in the rogue fourth branch of government called the Blob.

So, the silence begs you to ask: Are they doing anything in there?

Yes, they are making cases. And they are not yapping idly about it in the news, legacy or alt. They are preparing evidence for grand juries that will decide if probable cause exists to indict those well-known figures — several of whom have become cable news performers, foolishly, if obliquely, advertising their own culpability for years now. You’ll just have to wait, though perhaps not for long. It is August, after all, the horse latitudes of the year when things go still.

You are lectured incessantly and sanctimoniously by these same suspects about the rule of law (in “our democracy”). Many of these characters are maestros in the dark arts of lawfare, which, paradoxically, is the practice of using law to pervert and dishonor the rule of law. Lately, you are introduced to a similar sounding phrase, under color of law, with a related meaning. Understand it and you will see what has been behind virtually all the mischief in our public affairs this past, vicious decade.

Under color of law has deep roots in Anglo-American jurisprudence because law, by its nature, lends itself to abuse and nefarious misuse. The law’s “nature” is that it is a set of rules to decide matters of consequence, both personal and public, where much is at stake: ownership of property, liberty, life itself. At times, actions are taken in the name of the law to unjustly deprive persons of life, liberty, and property, usually for the benefit of other persons.

The phrase, life, liberty, and property, derives from John Locke’s Two Treatises on Government (1689), which argued that these are natural rights, God-given, and that it is government’s duty to protect these rights, government being the practical application of law. The phrase life, liberty, and property deeply influenced America’s founders. Thomas Jefferson changed it up a bit in the Declaration of Independence as “life, liberty, and the pursuit of happiness,” with a eudaimonian twist to inspire America to flourish on its own, off England’s leash. It was also Jefferson’s way of detaching the Declaration from the issue of slavery, where “property” could refer to human beings.

But the Lockean original, life, liberty and property, reappears in the Bill of Rights to the Constitution. It is in the Fifth Amendment, protecting persons from the arbitrary deprivation of these rights without due process by the federal government, and in the Fourteenth Amendment applying the same principle of law to state governments. Where lawfare comes in is under due process. Lawfare’s aim is to pervert due process, to use officers of the courts to act unfairly and unjustly in the name of the law, and thus, under color of law.

This is exactly what you saw in the several cases brought against Mr. Trump in New York State in 2024, a three-ring circus of process-abuse engineered by the “Joe Biden” White House, coordinated with Merrick Garland’s DOJ (through Deputy AG Lisa Monaco), with assists from NY AG Letitia James and Manhattan DA Alvin Bragg. Ditto the RICO case attempted in Atlanta under Fulton County DA Fani Willis, a spectacular botch. And ditto, the cases brought under Special Counsel Jack Smith in Florida and DC, also badly botched.

The slovenly ineptitude of these cases was really something to behold, including the sordid romantic complications around Fani Willis and her chosen chief prosecutor, “boyfriend” Nathan Wade, a divorce lawyer with no experience in criminal law. Throw in the disgraceful, self-conflicted antics of the Judges Kaplan, Engoron, and Merchan in the New York cases, and the oafish conduct of Jack Smith and his assistants in Florida and DC — and what you get is a demonstration of how crude an instrument sheer lying actually is in the practice of law, and how easily it breaks against the people using it.

Some of these characters are just now coming to grief: Letitia James faces a DOJ action on depriving Mr. Trump’s rights, and SC Jack Smith is under active FBI investigation for evidence tampering and other crimes of process abuse. It would be fitting for all the prosecutors and the three judges in the New York cases to face similar inquiries.

The phrase under color of law establishes liability for abuse of power for officials vested with the terrible authority for upending people’s lives.

The phrase “deprivation of rights” appears explicitly in federal statutes primarily focused on holding government officials and others acting with apparent legal authority accountable for willfully violating an individual’s constitutional or legal rights. The most relevant statute is 18 U.S.C. § 242, which directly criminalizes such conduct. Additional statutes, such as 18 U.S.C. § 241, 18 U.S.C. § 250, 18 U.S.C. § 2243, and 18 U.S.C. § 2244. That’s where all this is going, even if all that’s coming out of the DOJ and FBI for the moment is that ominous silence.

Tyler Durden Mon, 08/11/2025 - 16:20

Goldman Finds "Sharp Declines" In Import Prices As Foreigners Absorb Trump's Tariffs

Goldman Finds "Sharp Declines" In Import Prices As Foreigners Absorb Trump's Tariffs

Back in late June, we were first to point out something startling: contrary to conventional wisdom according to which prices of heavily-tariffed goods would surge and spark runaway inflation (just skim this from certified idiot Paul Krugman), we found just the opposite, namely that Japanese passenger car export prices had plunged by the most on record, demonstrating that it was foreign producers that were eating the bulk of the tariffs, certainly in this particular case.

Three days later, our chart ended up in front of Fed Chair Jerome Powell during his periodic grilling in Congress, where he was unable to give a clear explanation as to why the export prices of Japanese autos would be plunging in response to sharply higher tariffs (the answer, of course, is simple: foreign producers simply can not pass through costs to the US market without losing much if not all of their market share, so they have no choice but to eat the loss).

Fast forward to today when Goldman, similar to Morgan Stanley over the weekend, tried to analyze why those tariffs which it - and so many other economists predicted incorrectly - would already have sent inflation soaring, have failed to do so. While there is a bunch of stuff in the report (which pro subs can read at their leisure here), what was most notable is the "discovery" that it's not just Japanese car makers.

As Goldman's Jan Hatzius reveals, "we find that US import prices on tariffed goods have declined somewhat, suggesting that foreign exporters have absorbed some tariff costs by lowering their export prices to the US, unlike during the 2018-2019 trade war."

Our updated analysis shows that a 1pp increase in the product-level tariff rate led to a 0.25% cumulative decline in import prices over the first three months of implementation, with minimal impact thereafter.

Of course, here Goldman had to mix fact with projection to not sound like a bunch of wrong, confused career economists. When one strips away hypothesis and forecast, here is what actually happened: "following the implementation of China and auto tariffs, import prices (exclusive of tariffs) of both consumer and non-consumer goods from China, as well as import prices of passenger cars (exclusive of tariffs) from the EU and Japan, all experienced sharp declines."

Looking forward, Goldman concludes that whereas "foreign exporters had absorbed 14% of the cost of all tariffs implemented so far through June, their share will rise to 25% if the more recent tariffs follow the same pattern as the earliest tariffs on China."

This also means that the 9% increase in the effective tariff rate through June has reduced import prices by at least 1.3% so far, and that the total 14% increase in the effective tariff rate that Goldman expects in 2025 will likely reduce import prices by 3.7%, if not much more assuming foreign producers continue to keep prices reduced to remain competitive with lower-cost domestic producers.

The rest of the Goldman note goes on to do what Morgan Stanley tried to do yesterday: forecast just when all those tariffs will eventually finally show up in inflation... an exercise they have to do because both giant banks were very wrong in incorrectly assuming that inflation would already be far higher than it is so far. Don't be surprise if tomorrow's CPI comes in tame yet again, prompting even more revisions to Goldman's inflation ETA.

Much more in the full Goldman note, available to pro subscribers.

Tyler Durden Mon, 08/11/2025 - 15:45

"Prepare Now": Substation Failure Puts Baltimore At Risk Of "Widespread" Blackout

"Prepare Now": Substation Failure Puts Baltimore At Risk Of "Widespread" Blackout

Over a million residents across central Maryland, particularly in the Baltimore metro, were warned moments ago by the local utility that a substation failure linked to a major power plant could trigger widespread blackouts this afternoon. The alert comes barely a week after President Trump handed Maryland Governor Wes Moore and the Democratic Party in Annapolis a political lifeline to prevent power blackouts, underscoring the fragility of the state's power grid under the weight of failed Democrat-driven green energy policies. 

Baltimore Gas and Electric (BGE) has asked all 1.3 million of its electric customers in central Maryland "to conserve electricity to reduce the potential for widespread outages this afternoon and evening, due to a power plant experiencing an unplanned disconnection from the BGE electric system."

The Maryland Freedom Caucus reports that a substation linked to the Brandon Shores Power Plant experienced a failure earlier today, which could leave the supply insufficient when demand peaks later. As a result, Baltimore City and surrounding areas may face rolling blackouts this afternoon.

The Maryland Freedom Caucus blamed what it called "irresponsible Democrats" and their "failed green energy policies" for the crisis.

The Maryland Freedom Caucus urges residents in affected areas to take precautions to limit the impact of any outages. But make no mistake—this crisis is the direct result of radical, extremist energy policies from Maryland Democrats and Governor Wes Moore, which are driving reliable power plants toward closure and leaving our grid on the brink. This situation has the real possibility of being a regular occurrence if we do not change course.

We renew our call to Governor Moore to stop relying on federal bailouts and use his executive authority to protect Maryland's energy future:

  • Keep our existing plants open and reopen recently closed facilities
  • End the Green Energy Scam mandates strangling our economy
  • Eliminate the EmPOWER surcharge that drains ratepayers without cooling their homes
  • Immediately add nuclear to Maryland's Tier 1 energy options.

Last week, U.S. Energy Secretary Chris Wright granted Democrats in the state a massive political lifeline to prevent rolling blackouts by granting a 90-day emergency waiver allowing the H.A. Wagner power plant to exceed pollution limits to avoid rolling blackouts in the Baltimore metro area.

We no longer need to explain how Maryland is becoming the epicenter of the Democratic Party's imploding policies - all on display for the nation to see, especially on the green issue.

Meanwhile, failed green policies and increasing baseload power demand, driven by data centers, EVs, and other electrification trends, have created a perfect storm of hyperinflated power bills for residents.

Power CPI in U.S... 

Correct. 

Any blackout today would be disastrous, not just for Gov. Moore, who is being groomed for 2028, but also for Democrats, as their green energy agenda short-circuits with failures.

Tyler Durden Mon, 08/11/2025 - 15:35

Massachusetts Teachers Demand New Wealth Tax

Massachusetts Teachers Demand New Wealth Tax

Authored by Jonathan Turley,

I have long opposed wealth taxes based on both constitutional and practical grounds.

When Elizabeth Warren pushed her own wealth tax, I noted that the high starting income or wealth levels would likely be lowered with time if Congress were ever allowed to cross this constitutional Rubicon.

The Massachusetts Teachers Association (MTA) is now demanding an amendment to the state constitution to tax the “wealth of the richest 1%” to pay for free public college.

Previously, the state passed a constitutional amendment to place a 4 % tax on income above $1 million. This would add a new wealth tax to that earlier “Fair Share Amendment.”

In a press release, the teachers union president Max Page declared:

“if we are serious about social and economic justice and nurturing a culturally rich and welcoming state of involved citizens, we will provide all residents with the best vehicle for a prosperous future – public education.”

New York City socialist mayoral candidate Zohran Mamdani has made a similar proposal that, in addition to taxing corporations, he will “tax the wealthiest 1% of New Yorkers—those earning above $1 million annually—a flat 2% tax.”

Not surprisingly, Warren recently declared Mamdani the future of the Democratic Party.

Massachusetts is already in the top ten highest tax jurisdictions.

These tax increases are why many of us have opposed the state and local (SALT) tax deduction.

As high-tax states continue to increase their rates, they expect residents in low tax states to subsidize them.

My forthcoming book, Rage and the Republic: The Unfinished Story of the American Revolution, discusses the wealth tax controversy and how these moves are likely to increase in the coming years.

Tyler Durden Mon, 08/11/2025 - 15:25

Israeli Strike Kills 5 Al Jazeera Journalists In Gaza, IDF Says They Were Part Of Hamas Cell

Israeli Strike Kills 5 Al Jazeera Journalists In Gaza, IDF Says They Were Part Of Hamas Cell

Israel's military (IDF) has stepped up its bombing of Gaza City, and already there are mounting civilian casualties and an international outcry, especially after a well-known regional reporter and his crew were killed in a weekend strike

Five journalists and staff members working for Al Jazeera were among seven total people killed in a late Sunday night strike. They were sheltered in a press-marked tent near Al-Shifa hospital, various sources indicate.

The Hamas-run Government Media Office in Gaza has condemned the attack on the press group as "deliberate and premeditated". It's identified prominent Al Jazeera correspondent Anas al-Sharif as among the dead. The 28-year-old Al Jazeera Arabic journalist was known to have reported extensively from northern Gaza, and recently Israel identified him as among six 'compromised' journalists from Al Jazeera who have alleged ties with Hamas. The network has said Israel is falsely seeking to justify its war crimes against journalists. 

Anas al-Sharif. Source: Al Jazeera

Also among the dead weere Mohammed Qraiqeh and three photographers: Ibrahim Zaher, Moamen Aliwa and Mohammed Noufal.

However, Israel is claiming these were military targets and not journalists. The NY Times writes, "The Israeli military confirmed that it had conducted a strike targeting one of the men killed, whom it accused of being a Hamas fighter posing as a reporter, an allegation that he and the network had rejected."

The United Nations is not accepting Israel's defense of its actions, instead calling the attack a "serious violation of international humanitarian law."

The UN issued a statement on X saying, "We condemn the Israeli military’s killing of six Palestinian journalists by targeting their tent — a grave breach of international humanitarian law,” and emphasized that “Israel must uphold its obligation to protect all civilians, including journalists."

The UN further said at least 242 Palestinian journalists have died in Gaza since October 7, 2023, and is urging greater security and protection for journalists in the midst of the conflict. "Israel must respect and protect all civilians, including journalists," it said. Funerals for the men are already underway on Monday.

As for Anas Al-Sharif, the IDF alleges he was leading a Hamas cell. The Qatar-based Al Jazeera network is pushing back:

Meron Rapoport, a veteran Israeli journalist and editor of the Local Call news site, has said the Israeli military’s accusation that Al Jazeera correspondent Anas al-Sharif was a Hamas member “doesn’t make sense at all”.

“The Israeli explanations are, at best, very lacking,” Rapoport told Al Jazeera from Tel Aviv. He said that if the claims were true, Israel would have been expected to have targeted or arrested al-Sharif a long time ago.

He said Israel likely targeted al-Sharif now because of two main factors – first, his important role in “telling the world that there is famine in Gaza”, which “really hurt Israel internationally”; and, second, because of the planned upcoming invasion of Gaza City, which Israel wants to minimise coverage of.

Al Jazeera offices in Israel and the West Bank have already long ago been raided and shut down by Israeli security forces. Israeli leaders have long conisdered the Mideast regional channel to be adversarial.

It was only in July that Al Jazeera warned that Israel threatened to directly target its correspondent Al-Sharif:

Al Jazeera Media Network has denounced the Israeli military for what it called a “campaign of incitement” against its reporters in the Gaza Strip, including most notably Al Jazeera Arabic correspondent Anas al-Sharif.

In a statement on Friday, Al Jazeera said it “strongly condemns and denounces these relentless efforts, which have consistently incited against its staff since the beginning of its coverage of the ongoing Israeli war on Gaza”.

In May of 2022, the IDF shot dead an even more well-known Al Jazeera journalist. Shireen Abu Akleh, a Palestinian Christian, was killed while covering the siege of Jenin refugee camp. She had been wearing a press vest at the time and was huddled with other journalists at the moment she was shot.

Tyler Durden Mon, 08/11/2025 - 15:05

Fatal 'Laughing Gas' Poisonings Skyrocket As Recreational Use Spreads

Fatal 'Laughing Gas' Poisonings Skyrocket As Recreational Use Spreads

Authored by George Citroner via The Epoch Times (emphasis ours),

The last decade has seen a 578 percent rise in deaths due to nitrous oxide poisoning, a new research letter shows, revealing a sharp rise in U.S. fatalities linked to the gas—often called “laughing gas”—over the past 13 years.

Ink Drop/Shutterstock

The colorless, odorless gas is used recreationally as a euphoric and hallucinogenic drug.

The same drug used as anesthesia in dentists’ offices is now easily purchased by teenagers at corner stores and inhaled for a quick high—and it’s proving increasingly deadly.

“On the streets, the slang term for nitrous oxide is ‘whippits,’” Brian Townsend, a retired supervisory special agent with the U.S. Drug Enforcement Administration and not involved in the study, told The Epoch Times. “The gas comes from canisters, typically released into balloons before the user inhales it. This gives them a brief euphoric feeling or ‘high.’”

Fatalities have climbed from 23 in 2010 to 156 in 2023, with researchers linking the increase to the spread of whippits among American youth.

A Steep Increase

In the letter, recently published in JAMA, researchers examined death records from 2010 to 2023 using data from the Centers for Disease Control and Prevention’s Wide-Ranging Online Data for Epidemiologic Research database. The study focused on fatalities among Americans ages 15 to 74, where nitrous oxide poisoning was identified as the cause of death.

They found a mortality rate of 0.01 per 100,000 population in 2010, which climbed to 0.0622 per 100,000 by 2023.

While deaths showed a consistent upward trend, researchers noted a particularly sharp increase after 2016, when fatalities jumped from 120 to 149.

“At that continued rate, we could be looking at a much larger problem,” Andrew Yockey, University of Mississippi assistant professor of public health and author of the research letter, stated in a press release.

“We have evidence that nitrous oxide poisoning is a very real danger, but this is very often ignored or trivialized,” said letter co-author Rachel Hoopsick, assistant professor of health and kinesiology at the University of Illinois. “Sellers of nitrous oxide rarely, if ever, provide health warnings. I think the public sees it as a party drug.”

The findings also highlight a growing public health concern related to the misuse of nitrous oxide, with researchers emphasizing the importance of increased awareness and prevention strategies to reduce these preventable deaths—especially as recreational use appears to be rising.

Researchers also noted that young people were the most common users of nitrous oxide, with eighth graders making up a large portion of those misusing inhalants.

Earlier this year, the U.S. Food and Drug Administration issued an advisory warning consumers not to inhale nitrous oxide products, which are not federally controlled, due to the potential for severe adverse health events if used recreationally.

Flying Under the Radar

Nitrous oxide is readily sold in canisters from smoke shops.

Researchers and addiction specialists point to concerning marketing practices that may target young people. Nitrous oxide products come in flavored varieties with names like bubblegum and mango. “There is no age limit, and this is available online and in gas stations across the country,” Yockey stated in another press release.

Townsend said homeless people with substance use disorders often use nitrous oxide because it’s inexpensive and easy to get.

Nitrous oxide is one of those substances that “flies under the radar” because it seems harmless, said Dr. Raj Dasgupta, quadruple-board certified in pulmonary, sleep, internal, and critical care medicine and chief medical advisor for Sleepopolis.

“This study highlights a problem that’s quietly gotten worse over the years,” Dasgupta said.

Serious Health Risks

Recreational use can deprive the brain of oxygen, leading to short-term effects like dizziness or unconsciousness and long-term issues like nerve damage or even paralysis. “There’s also a serious risk of addiction and mental health decline when use becomes habitual,” said Sarah Grado, chief programs officer at notMYkid, a nonprofit dedicated to helping youth overcome addiction challenges.

It is unclear how nitrous oxide causes side effects, but inhaling large amounts of it can cause asphyxiation, and heavy use can cause vitamin B12 deficiency over time, which can cause nervous system issues like lasting nerve damage or difficulty walking.

Inhaling large amounts of the gas in a short period can cause nitrous oxide poisoning, Grado said.

Symptoms of nitrous oxide overdose include seizures, psychosis, rapid heartbeat, and tightness in the chest.

Prolonged inhalation of nitrous oxide recreationally can also lead to weakness in the limbs, problems with bowel and bladder control, and psychiatric problems such as dissociation, delusions, hallucinations, paranoia, and depression.

Recreational nitrous oxide is unregulated and used without medical supervision, said Jessica Tate, chief clinical officer at Milton Recovery Center. In medical settings, the drug is mixed with oxygen, but recreational users often inhale it in its pure form, making it far more potent and dangerous.

Social Media Influence

According to the 2023 National Survey on Drug Use and Health, more than 13 million Americans have misused nitrous oxide in their lifetimes.

Social media exposure showing people using nitrous oxide is also driving increased use, according to Michele Bowers, clinical director and therapist at Sophros Recovery.

“Think back to big tobacco; they deliberately targeted young people with cartoons, fun flavors, and flashy colors,” Hoopsick said. “That is a parallel we’re seeing now with nitrous oxide.”

Bowers noted that many health care providers lack sufficient training to recognize nitrous oxide abuse and often do not screen for it.

Tyler Durden Mon, 08/11/2025 - 14:45

Trump Tempers Expectations Ahead Of Alaska "Feel-Out Meeting" With Putin

Trump Tempers Expectations Ahead Of Alaska "Feel-Out Meeting" With Putin

During President Donald Trump's wide-raning news conference held at the White House on Monday, he was asked about the much anticipated Alaska summit with Russian President Vladimir Putin, which is of course stirring much controversy given European fears that he'll do a deal which sidelines Ukraine's interests. 

"This is a war that should never have happened," Trump began in this section of the presser. "This is a war that wouldn't have happened if I were president, it would never have happened." These statements are nothing new, but what followed is a first.

Trump then interestingly for the first time used language about the Friday planned summit which appears aimed at greatly tempering expectations. This is after several rounds of US-backed Russia-Ukraine peace talks in Istanbul failed to produce any breakthroughs.

Trump described the talks with Putin as merely a "feel-out meeting" and said that Putin "wants to get involved". He then voiced his belief that Putin wants to get the war "over with".

Via Shutterstock

"I've said that a few times and I've been disappointed because I'd have a great call with him and then missiles would be lobbed into Kyiv or some other place," Trump stated.

He futher pledged that he'll tell Putin "you've got to end this war, you've got to end it". And he sought to once again reassure European leaders -"who I get along with very well" - saying they will be the first phone call after the talks are over.

As for whether a final deal could be achieved in Alaska, Trump emphasized that "it's not up to me". Again choosing language which seeks to manage expectations, Trump casually said: "I got a call to say they'd like to meet, and I'm going to see what they want to meet about."

"I'd like to see a ceasefire, I'd like to see the best deal that could be made for both parties, it takes two to tango," he added, which could be interpreted as a jab toward Ukraine.

Trump at one point in his comments mistakenly said: "We're going to Russia. That's going to be a big deal." He perhaps has a future trip to Russia in mind, as a return gesture for Putin coming to American soil to talk.

But then near the end of the remarks he offered a corrective, saying "I thought it was very respectful that the president of Russia is coming to our country, as opposed to us going to his country, or even a third, third party place."

Such warm words said of Putin will likely make Zelensky nervous, hearkening back to the opening months of Trump taking office, when Trump's relations with Zelensky hit a low-point, and criticisms aimed at Kiev came weekly. Some analysts have already pointed out that these Monday statements from Trump don't bode well for Ukraine and a favorable settlement on its terms.

Meanwhile, Zelensky in fresh statements has highlighted Russia has only stepped-up aerial attacks on Ukraine of late. He talled that in just the past week, Russia sent more than 1,000 air bombs, nearly 1,400 drones and several missile strikes on Ukraine. But Ukraine has also been hitting Russian oil refineries on a weekly basis at this point, as both sides continue to target energy infrastructure.

Ukraine's position has been to accuse Russia of simply trying to buy time, and that it's not actually interested in negotiating peace. The fact that Trump is even meeting with Putin is being felt as a huge slap in the face in Kiev.

Tyler Durden Mon, 08/11/2025 - 14:25

86% Of Americans Feel Stressed About The Cost Of Groceries

86% Of Americans Feel Stressed About The Cost Of Groceries

Authored by Michael Snyder via TheMostImportantNews.com,

Why are social media platforms filled with videos of Americans complaining about grocery prices right now?

Needless to say, those videos must be striking a chord, because some of them are receiving millions of views. Government bureaucrats are telling us that the cost of food is only going up a few percentage points per year, but we can all see that is a load of nonsense. A trip to the grocery store has become an enormous expense, and this is especially true if you have kids to feed. As I wrote about earlier this month, one survey found that in 25 percent of U.S. households at least one person is skipping meals so that there will be enough money to pay the bills. Sadly, we are being warned that the cost of groceries will go even higher in the months ahead.

Several years ago, I kept warning my readers over and over again that soon the cost of groceries would become very painful.

Without a doubt, that time has arrived.

According to a recent AP poll, the cost of groceries is a “source of stress” for 86 percent of U.S. adults…

Does your run to the supermarket cause a spike in your blood pressure? You’re in good company.

The overwhelming majority of Americans – 86% – say the cost of groceries is at least a minor source of stress. The number includes 53% who say it’s a major source of anxiety in their lives right now. That’s according to a new Associated Press/NORC poll.

Those are very alarming numbers.

But this is the world that we live in now.

And this is why we are seeing so many videos on social media about grocery prices.

Someone put together a compilation of some of the best videos where people are really flipping out emotionally…

In my entire lifetime, I have never seen it so bad.

At one grocery store in Chicago, one woman admitted that it feels like “you’re spending your soul on groceries”…

At a South Loop grocery store, customers experience sticker shock and frustration.

“No matter if it’s organic or if it’s regular, it’s still going to be an arm and a leg for it. It’s like you’re spending your soul on groceries,” said shopper Tria Hutson.

This is one of the reasons why I get so frustrated with the talking heads on television that are telling us that everything is fine.

Just look around you.

People are hurting.

Some companies are trying to hide their price hikes by keeping the prices the same but putting less stuff in each package.

This is known as “shinkflation”, and Jim Quinn recently shared a personal anecdote from his own life…

I think a personal anecdote I’ve experienced will show you the devious methods corporations will use to pass these tariffs along. I have been buying a pack of coated paper plates at Wal-Mart for years. The pack contained 70 paper plates. Within the last four months, the pack was reduced to 50 plates, for the same price. They know the average dolt, after years of government schooling, is deficient in math skills, so they would not realize they just experienced a 40% increase in price per plate. This will show up nowhere in the fake BLS numbers. Shrinkflation is just as bad as inflation, but they can hide it and pretend all is well, while maintaining their profits.

I am sure that you are running into the same thing.

Unfortunately, this is just the beginning.

How can I be so confident in saying that?

Let me give you just one example.

Approximately two-thirds of U.S. adults drink coffee, and approximately one-third of all the coffee we drink comes from Brazil.

Thanks to the 50 percent tariff that was just placed on imports from Brazil, coffee is about to become a lot more expensive…

The U.S. relies heavily on Brazil to import coffee for the 165 million people who need their daily caffeine fix, but Trump’s 50 percent tariff threatens the long-term availability and price of the drink.

“When people go to their local coffee shop, whether it’s Starbucks or something else, by and large they will likely be buying some form of Brazilian coffee,” Monica de Bolle, senior fellow at the Peterson Institute for International Economics, told NPR.

“A 50 percent tariff will kill that market.”

I still remember the days when you could get a cup of coffee for 10 cents.

What did your latest cup of coffee cost you?

Of course everything else is becoming more expensive too, and our cost of living crisis never seems to end.

As a result, 62 percent of Gen Z Americans have no emergency savings at all…

  • 62% of Gen Z have no emergency savings, nearly double the rate of baby boomers.

  • 51% of Americans would use a credit card for a $500 emergency, with usage jumping to 70% among students.

  • Two-thirds of consumers have six months or less in savings, with Gen X the least prepared.

  • 76% lack a credit card set aside for emergencies, relying instead on everyday-use cards.

Most of the country is living on the edge financially.

The middle class is steadily shrinking, and those that remain in the middle class have much less discretionary income than they once did.

So restaurants all over the nation find themselves torn between rapidly rising costs and customers that now have a lot less money to spend…

Ike’s Chili in Tulsa, Oklahoma, has been around for 117 years, surviving a myriad of challenges like the Great Depression, the Covid-19 pandemic and a once-in-a-generation burst of inflation. But 2025 already holds an even more complicated challenge.

“The cost of everything’s just going up, and we’ve got to figure out how to manage it right,” Len Wade, a managing partner at the restaurant, told CNN.

He pointed to surging beef prices as an example, specifically hamburger meat on the wholesale level. In July, those prices were up nearly 21% compared to the same month 10 years ago, federal data shows. And passing the buck to customers might not be the best solution, Wade said.

Tourist destinations from coast to coast are experiencing the same thing.

Las Vegas is getting far less tourist traffic than it once did, and those that do arrive are tipping a lot less…

Las Vegas servers say they’re feeling the heat as high prices and declining tourism hammer their tip earnings across the Strip.

Tipping in Sin City is reportedly down by as much as 50% among servers, as some of them blame the economy and policy while others point to high prices, a tipping backlash and poor service.

On Reddit’s r/VegasLocals forum, one cocktail waitress wrote, “I used to average about 80 cents a drink. Now I’m averaging about 10 cents.”

Nobody can deny what is happening.

We really are experiencing a very serious economic crisis.

Sticking our heads in the sand and pretending that everything is okay is not going to fix anything.

Our standard of living really is collapsing, and a lot more pain is ahead as our economic bubbles continue to burst.

We were warned that this storm was coming for a long time, and now it is here.

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 Mon, 08/11/2025 - 14:05

Commerce Department Threatens To Take Ownership Of Harvard Patents

Commerce Department Threatens To Take Ownership Of Harvard Patents

The federal government is looking into Harvard University’s patent rights, Commerce Secretary Howard Lutnick said in an Aug. 8 letter to Harvard President Alan Garber.

The Department of Commerce is initiating a “march-in” process under the Bayh-Dole Act, a federal patent policy allowing recipients of federal funds to retain patent rights over their inventions made with federal funding.

The Act’s “march-in” rights, however, give the federal government the authority to grant licenses of such patents to third parties under certain conditions where federally funded inventions are not being adequately developed or utilized for the public good.

In the letter, Lutnick said that Harvard has “failed to live up to its obligations to the American taxpayer and is in breach of the statutory, regulatory, and contractual requirements tied to Harvard’s federally funded research programs and intellectual property arising therefrom, including patents.”

As a result, Naveen Athrappully reports for The Epoch Times that the Department of Commerce is initiating a comprehensive review of the institution’s non-compliance, and will initiate the Bayh-Dole Act “march-in” process through which Harvard’s federally-funded patents could be taken over by the government.

Lutnick said that the federal government intends to license Harvard’s patents to third parties.

March-in rights under the Bayh-Dole Act have not been exercised by any federal agency in the 40 years since its enactment.

In an emailed statement to The Epoch Times, a Harvard spokesperson said, “This unprecedented action is yet another retaliatory effort targeting Harvard for defending its rights and freedom. Technologies and patents developed at Harvard are life-saving and industry-redefining.

“We are fully committed to complying with the Bayh-Dole Act and ensuring that the public is able to access and benefit from the many innovations that arise out of federally funded research at Harvard.”

This is the latest escalation in a series of government actions taken against Harvard since Trump took office. The federal government has accused Harvard of anti-Semitism, non-disclosure related to foreign funding, and race-based discrimination.

According to Harvard’s website, the university held over 5,800 patents as of July 1, 2024, and had more than 900 active technology licenses with 650-plus industry partners.

The administration values the groundbreaking scientific advancements that come from the federal government’s partnership with institutions like Harvard, which are funded by “significant taxpayer dollars,” said the letter.

“However, this privilege carries with it critical responsibility for Harvard to ensure that intellectual property derived from federal funding aligns with the Bayh-Dole Act, its associated regulations, and our contractual agreements, thereby maximizing the benefits to the American public,” it said.

With regards to patents, Harvard has failed to comply with disclosure and ownership requirements under the Act; has not taken effective steps to achieve practical applications for inventions; and is not in compliance with a requirement to give preference to the U.S. domestic industry, the letter added.

The Commerce Department’s actions are aimed at addressing these failures, Lutnick wrote.

The letter asked Harvard to provide a comprehensive list of all patents it received from federally funded research grants by no later than Sept. 5. The university must also provide sufficient information to prove that it was in compliance with the Bayh-Dole Act.

“Taxpayers deserve the benefit of the bargain. If Harvard won’t honor the Bayh-Dole Act, then we will find someone who will,” Lutnick said in an Aug. 8 X post, sharing the letter.

Trump-Harvard Tensions

Thus far, the federal government has canceled over $2.6 billion in federal funding to Harvard, including a cancellation of $2.2 billion in federal grants after the government accused the university of failing to combat anti-Semitism on campus.

“Harvard’s leadership has created an unsafe campus environment by permitting anti-American, pro-terrorist agitators to harass and physically assault individuals, including many Jewish students, and otherwise obstruct its once-venerable learning environment. Many of these agitators are foreign students,” the Department of Homeland Security (DHS) said in a May 22 statement.

Harvard had sued the federal government on May 23 over the funding freeze, with both facing off in court in a July 21 hearing. The case is ongoing.

The university argued in the lawsuit that the funding freeze was a “blatant violation” of the Due Process Clause, First Amendment, and the Administrative Procedure Act.

“It is the latest act by the government in clear retaliation for Harvard exercising its First Amendment rights to reject the government’s demands to control Harvard’s governance, curriculum, and the ‘ideology’ of its faculty and students,” the lawsuit said.

Harvard also highlighted that it has taken steps to combat anti-Semitism. It admitted that members of Jewish and Israeli communities have reported “vicious and reprehensible” treatment following the Oct. 7, 2023, Hamas attack against Israel.

“Harvard made substantial changes aimed at ensuring its campus is safe, fair, and welcoming to Jewish and Israeli students,” said the complaint.

“Harvard has adopted new accountability procedures and clarified policies; imposed meaningful discipline for those who have violated applicable policies; enhanced programs designed to address bias and promote ideological diversity and civil discourse; hired staff to support these programs and impacted students; and enhanced safety and security measures.”

Meanwhile, the university is showing signs that it may be aligning with the federal government’s demands.

On July 29, Harvard said that it would hand over employment forms of thousands of its staff members following a request from the DHS.

The form, Employment Eligibility Verification, is used to verify the identity and employment authorization of an individual who is hired to work in the United States. The processing of the form is managed by the DHS’s Citizenship and Immigration Services.

Tyler Durden Mon, 08/11/2025 - 13:45

Rebounds In The Dollar Set To Get Ever More Fleeting

Rebounds In The Dollar Set To Get Ever More Fleeting

Authored by Simon White, Bloomberg macro strategist,

The dollar’s primary trend will be lower for longer as the speculative short positioning has been covered, while the fiscal outlook for the US will deteriorate further as the economy slows.

The DXY is in the process of another failed attempt to bounce. It’s the second try to rebound off its early July low to hit the buffers in recent weeks. That’s likely to be the pattern for the time being as the fundamental outlook for the dollar will keep it under pressure.

The short dollar trade had become so crowded that it was a case of when, rather than if, we would see a bounce. Short positioning of speculators in USD currency-futures had become quite stretched, based on CFTC Commitment of Traders data.

While there is a still a net short position in the dollar overall, the short versus developed-market currencies such as the euro and sterling has been covered, and positioning is now net long again. Speculators are still net short the dollar versus emerging-market currencies (and that’s getting shorter), but when it comes to the DXY, it is only developed currencies that matter (mainly the euro).

Macro and CTA hedge funds, too, look to have covered their dollar short. The sensitivity of their returns to returns in the dollar had become more negative than it had been for over three years; now it is back to being neutral.

Of course, speculators and hedge funds might start to go long the dollar, but not if they are paying attention to the US fiscal situation. The deficit is already in the order of $2 trillion a year. If there is a recession, however, a 6-7% of GDP deficit could easily become double digits.

That risk of one is rising.

The economy is beginning to slow, which means a drop in tax revenues – already anticipated by leading indicators — will stress the government budget further.

Markets never move in straight lines, least of all currencies, but for the dollar the up moves are likely to prove increasingly transient in the face of dominant down ones.

Tyler Durden Mon, 08/11/2025 - 12:40

Lithium Futures Soar After CATL Shuts Mega Mine, In-Line With Beijing's "Anti-Involution" Campaign

Lithium Futures Soar After CATL Shuts Mega Mine, In-Line With Beijing's "Anti-Involution" Campaign

Chinese lithium stocks surged overnight after Contemporary Amperex Technology Co. (CATL), the world's largest battery maker, suspended production at its Jianxiawo mine in China's Yichun lithium hub. The move triggered a limit-up move in lithium carbonate futures and fueled speculation that Beijing may suspend other projects as it addresses the deflationary pressures of overcapacity across the economy.

China's anti-involution campaign to curb overcapacity - most particularly in the lithium market -  has led to the temporary closure of CATL's Jianxiawo mine, which accounts for about 6% of global output. The move comes as the battery market remains heavily pressured in a glut amid softening demand for electric vehicles and President Trump's push to roll back green incentives in favor of common-sense energy policies. 

Here's the equity market impact:

  • Tianqi Lithium +19% (Hong Kong),

  • Ganfeng Lithium +21%,

  • Australian miners +14 to 25%.

Lithium carbonate futures on the Guangzhou Futures Exchange hit the 8% daily limit at 75,500/ton yuan. Contract prices are 87% lower than the 600,000 yuan peak in late 2022. 

Sources close with Bloomberg say operations at the Jianxiawo mine could be shuttered for at least three months. This is part of Beijing's anti-involution campaign targeting oversupply across sectors from batteries to steel.

"I think it will mean the lithium price in the near term has very big upside," Bank of America analyst Matty Zhao told Bloomberg in a television interview earlier.

Citigroup analysts told clients that this mine closure is "part of the government's anti-involution initiative," adding that it "should help China to re-price its strategic resource in the long-run, and the government can ensure lithium is mined and extracted in a proper and compliant way." 

Comments from Goldman analyst James McGeoch to clients indicate the anti-involution will be a slow-burn policy that will quietly tighten capacity in aluminum, coal, steel, lithium, EVs, etc., with its impact only materializing in about 12 months.

Here's more from McGeoch: 

Talking to trading - limit up today, most likely is same again tomorrow, feels different to 2024 (that was on back of lower prices and having a output target), this is a forced shutdown from local govt, seen as anti-involution driven. Risk of lateral damage to other mines is real ...just adding to a mkt that has been normalising. The ask is do we create a deficit mkt in 2026? The 3months that CATL has indicated is unclear if the govt is also thinking 3m? What is required to restart (Permit expired, seeking renewal)....Todays trading, Limit up, CME is a really wide mkt (bids +5-6% however nothing really trading).. On Friday there was a large spodumene print (+8% or $60, at $825t fastmarkets reported, however no trades visible), today Spodumene printed +$100 to $925t,  it had gone up thought the noise on prodn adjustments, then rolled down, we had thought the mkt fades it, however the price action on Friday suggested that view was changing and here we are... Today lithium onshore is RMB81k/t (lithium carbonate), limit up is +8%, feels like 100kt is the resistance level...if I can point to a comp it would be Coking Coal, it went up on noise of curtailments, haven't seen the curtailments (weather and other factors have impacted supply nonetheless) and its stayed up. So even if there is no follow through, there is enough smoke to keep the mkt looking for the fire.... ALB US looking +c.12% having been +7% on Friday,  the SI had almost halved coming into this, id call it a post Anti-Involution adjustment. There has been noise of prodn adjustments around, confirmation of does make it different. ...its a dirty comparison but look at the likes of AMR/BTU/HCC. I also hold a view that Anti-Involution is real, you wont get a big headline, rather you have an initiative that will just chug along, we will look back in 12months time and the numbers will attest to the intent - Ali, Coal, Steel, Lithium, EV etc.

. . . 

Tyler Durden Mon, 08/11/2025 - 12:20

Ahead Of Trump-Putin Summit, Zelensky Warns Any Decisions Taken Without Ukraine Are "Stillborn"

Ahead Of Trump-Putin Summit, Zelensky Warns Any Decisions Taken Without Ukraine Are "Stillborn"

By Jane Foley, senior FX strategist

The Nasdaq ended Friday at a fresh all-time high, lifted by big tech and a very good week for Apple. The week brought the start of new tariff rates on exports from dozens of countries to the US, but sentiment found support on news of concessions, particularly the exemption on semiconductor tariffs for companies that produce in the US. Over the weekend news emerged that Nvidia and AMD have agreed to give the US government 15% of revenues received from chip sales in China in exchange for export licences. The news highlights the controversy over the sales of H20 chips to China. Some US security commentators have warned that the chips will enhance China’s military and undermine the US’ relative strength in AI. 

Looking ahead, some countries are still hoping for a reduction in their specific tariff rate, Switzerland and India amongst them. The Swiss government said on Friday that it was still in discussions with the US after the shock announcement of a 39% tariff on August 1 and last week’s warning that the country’s exports of gold bars to the US could also be impacted by the tariff. While Swiss negotiators have been keen to offer a better deal to the US, India has pushed back against pressure from Washington triggered by its purchases of Russian oil. That said, on Friday Reuters reported that India’s biggest state refiners had bought at least 22 mln barrel of non-Russian crude for delivery in September and October. Indian state refiners had been largely absent from the spot market since the start of the Russia/Ukraine war, instead sourcing supplies from Putin. Brent oil futures were on the back foot this morning on hope that this week’s meeting between Presidents Trump and Putin will increase the likelihood of an end to the war in Ukraine.

On Friday, Trump announced an August 15 summit with Putin in Alaska. At a meeting of security officials hosted by US Vice-President Vance and UK Foreign Secretary Lammy in the UK over the weekend, Ukraine President Zelensky won support from European leaders and NATO over his concerns that Russia and the US could try and dictate the terms for the end of the war. European leaders are urging Trump to increase sanction pressure on Moscow. Vance described Friday’s forthcoming meeting as a “major breakthrough for American diplomacy” but suggested that a peace deal is unlikely to satisfy either side. Fearful of a land grab by Russia, Zelensky has said that any decisions taken without Ukraine would be ‘stillborn’. The White House has indicated that Trump was open to Zelensky attending the meeting, but that preparations were being made for a bi-lateral meeting. The Kremlin last week ruled out a meeting between Putin and Zelensky. Russia currently holds around 20% of Ukrainian land. 

The Fed’s Bowman made it clear over the weekend that US labor market fragility had strengthened confidence in her call for three Fed rate cuts before the end of this year. The FOMC is due to meet in September, October and December. Bowman, along with Waller, dissented at the July Fed policy meeting, favouring an immediate rate cut. Towards the end of last week reports suggested that Waller had emerged as the favourite for the new Fed Chair. Over the weekend, former Fed governor Bullard and Sumerlin, former economic advisor to Bush, reportedly joined the list of candidates. 

Very weak Canadian labor data on Friday have strongly underpinned market expectations for another BoC rate cut. Employment plunged by 40.8K in July, the biggest fall since the pandemic. 

In France, a new development on the government’s efforts to tackle the budget deficit emerged last month with PM Bayrou’s proposal to cut two bank holidays. On Friday, he proposed that negotiations on the topic should be concluded by the end of next month

Tyler Durden Mon, 08/11/2025 - 12:05

COVID-19 Activity Increases Across US, Mostly On West Coast: CDC

COVID-19 Activity Increases Across US, Mostly On West Coast: CDC

Authored by Jack Phillips via The Epoch Times (emphasis ours),

COVID-19 levels are rising in the United States, with the highest numbers occurring along the West Coast, according to new data published by the Centers for Disease Control and Prevention (CDC).

This undated electron microscope image made available by the U.S. National Institutes of Health in February 2020 shows the Novel Coronavirus SARS-CoV-2, yellow, emerging from the surface of cells, blue/pink, cultured in the lab. Also known as 2019-nCoV, the virus causes COVID-19. NIAID-RML/AP/The Canadian Press

On Aug. 8, the CDC stated that the national wastewater viral activity for COVID-19 increased from “low” to “moderate” from the previous week, according to an Epoch Times review. The region with the highest number of cases is the western United States, it stated.

“Wastewater monitoring can detect viruses spreading from one person to another within a community earlier than clinical testing and before people who are sick go to their doctor or hospital,” the CDC says on its website. “If you see increased wastewater viral activity levels, it might indicate that there is a higher risk of infection.”

Louisiana and Hawaii reported a very high number of cases, according to the CDC’s map. States reporting a high number of cases were California, Alaska, Nevada, Utah, Colorado, Texas, Indiana, Mississippi, Alabama, Florida, and South Carolina.

In contrast to the CDC’s wastewater-based estimates, a separate update based on laboratory results and released on Aug. 8 shows that COVID-19 is currently at “low” levels in the United States but is “increasing.”

“COVID-19 laboratory percent positivity is increasing nationally,” the CDC stated. “Emergency department visits for COVID-19 are increasing among all ages. COVID-19 wastewater activity levels and model-based epidemic trends indicate that COVID-19 infections are growing or likely growing in most states.”

However, overall respiratory illness levels can be considered “very low” across the United States, according to the CDC. That includes influenza, considered “low,” and RSV, which is “very low,” according to the agency.

The CDC has not updated its COVID-19 variant estimates since mid-June. The CDC stated on its website that because of “low numbers of sequences being reported,” the agency is now moving to “longer reporting periods” for the various variants.

But in the last update, it noted that there were growing proportions of variants such as NB.1.8.1 and XFG, which were both declared “variants under monitoring” by the World Health Organization (WHO) in May and June, respectively.

“The available evidence on NB.1.8.1 does not suggest additional public health risks relative to the other currently circulating Omicron descendent lineages,” the WHO stated about the NB.1.8.1 strain.

The United Nations health body issued a similar statement about the XFG variant in June.

The NB.1.8.1 appears to have been driving a rise in cases across mainland China since earlier this year. However, because of the Chinese Communist Party’s history of blocking access to information and publishing inaccurate data, including underreporting COVID-19 infections and related deaths since 2020, it is difficult to assess the true scale of the current outbreak.

The updates come as Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. has changed the COVID-19 vaccine policy since the Trump administration took over earlier this year.

Last month, the HHS dismissed all 17 members of the CDC vaccine advisory panel, ordered the removal of mercury from influenza vaccines, and ended the CDC’s COVID-19 vaccine recommendations for pregnant women and healthy children.

Tyler Durden Mon, 08/11/2025 - 11:50

Ether Treasuries Climb To $13 Billion As Price Breaks $4300

Ether Treasuries Climb To $13 Billion As Price Breaks $4300

Authored by Exra Reguerra via CoinTelegraph.com,

The total Ether held by companies with crypto treasuries has risen to 3.04 million ETH, worth $13 billion, as the cryptocurrency’s price surged past $4,300.

On Monday, Ether climbed to $4,332, surging by 20.4% in the last seven days, according to CoinGecko.

At the time of writing, ETH had dropped slightly and was sitting at $4,290.

The ETH rally is fueled by companies increasing their holdings in the last 30 days. 

BitMine Immersion Technologies, which tops the list of ETH treasury holders, boosted its holdings to 833,100 ETH, a 410.68% jump in the amount of ETH it holds over the past 30 days.

[ZH: Update - BitMine on Monday announced that it held a total of 1.15 million ETH as of Aug. 10, making the company the largest ETH treasury in the world. The company’s total ETH holdings value was reported at $4.96 billion, up from $2.9 billion reported a week earlier.

“In just a week, BitMine increased its ETH holdings by $2.0 billion to $4.96 billion (from 833,137 to 1.15 million tokens), lightning speed in the company’s pursuit of the ‘alchemy of 5%’ of ETH,” said Fundstrat’s Tom Lee, who was recently appointed chairman of BitMine’s board.]

SharpLink Gaming followed with 521,900 ETH after boosting its treasury by 141.69% in the same time period, while The Ether Machine has grown its stack by 8.01% to 345,400 ETH. 

These three entities accounted for more than half of the ETH held by the top 10 ETH treasury companies, which had a combined 2.63 million ETH, about 2.63% of the asset’s total supply. 

Top 10 entities holding Ether. Source: Strategic ETH Reserve

Top 10 ETH treasury entities hold over $11.3 billion 

The week’s price surge pushed the value of corporate ETH holdings sharply higher.

Last Monday, BitMine bought 208,137 ETH, putting its holdings at 833,100 ETH. At the time, the assets were worth about $2.9 billion as ETH hovered around $3,700.

With ETH trading at around $4,300, BitMine’s holdings are now worth over $3.58 billion, making it the first company to hold more than $3 billion in ETH. 

On Tuesday, digital asset investment firm SharpLink boosted its holdings to 521,900 ETH after an 83,562 ETH purchase.

At the time, SharpLink’s holdings were worth about $1.91 billion. With ETH’s prices surging past $4,300, the company’s ETH is now worth over $2.23 billion. 

ETH treasury data tracker Strategic ETH Reserve (SER) showed that SharpLink Gaming has over $671 million in unrealized gains from its Ether investments. 

On Aug. 3, The Ether Machine bought 15,000 ETH, coinciding with Ethereum’s 10th anniversary. According to SER data, it added another 10,600 ETH to its treasury on Sunday. It now holds 345,362 ETH worth almost $1.5 billion, keeping it in the top three by holdings.

Apart from the top companies, smaller purchases were also made last week. On Friday, the HashKey exchange announced that Hong Kong-listed IVD Medical purchased HK$149 million (about $19 million) in ETH from the trading platform. However, the actual ETH amount was not disclosed. 

Overall, SER data shows that 64 treasury companies that hold ETH have a total of 3.04 million ETH, worth over $13 billion at current market prices. 

Number of ETH held by treasury companies. Source: Strategic ETH Reserve

Ethereum market cap overtakes Mastercard

It came as Ethereum’s market capitalization soared to $523 billion on Monday, boosted by a 21% rally in Ether over the past seven days to cross the $4,000 milestone. It was trading at $4,332 at publication.

Ether’s market cap overtook payments giant Mastercard, which currently has a market capitalization of $519 billion, according to CompaniesMarketCap.

More than 304,000 ETH, worth over $1.3 billion, was added by publicly traded companies that have Ether treasuries in the past week, CoinGecko reported on Saturday.

BitMine Immersion Technologies bought the lion’s share of ETH, as the company bought more than 208,000 ETH, worth more than $900 million,  in the past week, which was followed by SharpLink Gaming buying $303 million worth of Ether.

Alongside, Ether Treasury demand, ETH ETF inflows have surged once again...

Analysts bullish on ETH’s price action

Technical analysts have also turned bullish on Ether, with some predicting that the asset might reach as high as the $20,000 mark for the first time in the coming months.

Analyst Nilesh Verma said that ETH can hit the $20,000 milestone in the next six to eight months based on historical price fractals.

Meanwhile, Merlijn The Trader, a technical analyst, predicted that the asset might surpass $20,000 and may even go beyond that mark.

On the flip side, some industry experts are cautioning investors.

Ethereum co-founder Vitalik Buterin supported companies that are buying Ether to hold in their respective treasuries; however, he cautioned that it should not turn into an “overleveraged game,” which could lead to the downfall of the asset.

Tyler Durden Mon, 08/11/2025 - 11:00

Obama Judge Refuses To Release Ghislaine Maxwell Grand Jury Transcripts

Obama Judge Refuses To Release Ghislaine Maxwell Grand Jury Transcripts

A federal judge on Monday rejected a request by the Justice Department to unseal grand jury transcripts in the New York sex trafficking case of Ghislaine Maxwell, Jeffrey Epstein's co-conspirator. 

District Judge Paul A. Engelmayer (Obama) wrote in his order that the government's premise that unsealing the records would shed light on meaningful new information was "demonstrably false," and that "unsealing the grand jury materials would not reveal new information of any consequence."

"Contrary to the Government’s depiction, the Maxwell grand jury testimony is not a matter of significant historical or public interest. Far from it," he wrote. "It consists of garden-variety summary testimony by two law enforcement agents. And the information it contains is already almost entirely a matter of longstanding public record.

"The Government has not cited any case finding such materials to present a 'special circumstance' that justifies the exceptional step of unsealing grand jury materials," Engelmayer continued, adding "There is none."

So why not just release the transcripts? 

The Trump DOJ has made a similar request in Epstein's case, which remains pending in front of a different judge. 

The requests come amid months of controversy over Jeffrey Epstein - particularly Trump's campaign trail promise that he would release the 'Epstein list' of high-profile sex offender friends and clients of the dead pedophile.

After Attorney General Pam Bondi released an already-public binder of Epstein documents earlier this year & Trump started acting really weird about the whole thing, the DOJ moved last month to unseal grand jury materials related to Maxwell and Epstein with redactions to protect victims' identities. 

Maxwell opposed the unsealing, while representatives of Epstein's estate took no position. Several of the victims also generally supported unsealing, but raised concerns over the government's motivations. 

Engelmayer is the second judge to deny the government's unsealing requests - the first being a Florida judge who declined too release grand jury materials from an investigation in the 2000s. 

Tyler Durden Mon, 08/11/2025 - 10:40

Graham To Israel: 'Enough Already, Destroy Hamas' - Just As The US Did To Germany & Japan

Graham To Israel: 'Enough Already, Destroy Hamas' - Just As The US Did To Germany & Japan

As the Israel Defense Forces (IDF) are underway with an expanded assault on Gaza City, after Prime Minister Netanyahu has given the greenlight for the conquest of all of the strip, US Senator from South Carolina Lindsey Graham has called on Israel to finish the job, saying the Palestinian militant group must be "annihilated".

"I can’t believe there’s even a debate about how to conduct a war against those who aim to wipe out the Israeli people," Graham said during an appearance on CBS News’ Meet the Press.

Source: US Embassy Jerusalem

He added, "Israel will take Gaza by force, unless the hostages are freed." Graham further responded to questions about Gaza's future by saying the Palestinian enclave should be rebuilt in a manner similar to how the US helped reconstruct Germany and Japan after World War II. Some hardline Israeli ministers have been calling for Palestinians to be liquidated from the Gaza Strip.

Graham's words suggests possible agreement. "Enough already. Destroy Hamas. Do to Hamas what we did to the Germans and the Japanese during World War II. Annihilate them and rebuild the Palestinian society like we did with Germany and Japan. I think we can do that," the hawkish senator said.

He floated that Saudi Arabia will be an ultimate decider in terms of the Palestinian plight in a post-war future.

"Eventually the Arabs will take over. The future of Palestine runs through Riyadh. The future of the Mideast runs through Riyadh. I envision after the defeat of Hamas that normalization will be back on the table between Saudi Arabia and Israel, and the Palestinians will benefit from that discussion, as well as the Israelis," he described, which means he has high hopes for Saudi-Israeli normaliation through the Trump-backed Abraham Accords.

Graham has previously called Hamas "religious Nazis" who ultimately can't be negotiated with. Watch a portion of his latest Meet the Press appearance below.

President Trump has also of late appeared impatient at the Gaza situation. There were early administration attempts at mediating a deal for the return of the hostages, but all parties appear to have given up on Doha-sponsored talks at this point.

Trump said last week, "I know that we are there now trying to get people fed. … As far as the rest of it, I really can’t say. That’s going to be pretty much up to Israel." There's been no recent White House talk of throttling weapons shipments, and it appears the status quo will go on - despite the growing international outrage at the civilian death toll.

Tyler Durden Mon, 08/11/2025 - 10:00

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