Feds Charge Mexican-American With Trying To Arm ISIS Via Undercover FBI Agent

The FBI has arrested a 21-year-old Texas resident and charged him with attempting to provide material support to a foreign terrorist organization -- namely, ISIS. Depending on their level of faith in domestic counter-terror enforcement, some observers will applaud the news unquestioningly, while others may wonder if it's another situation where the man in handcuffs wouldn't have progressed to criminal action without police encouragement and assistance.  

That man in custody and facing up to 20 years in federal prison is John Michael Garza, a 21-year-old resident of Midlothian, Texas, a town about 25 miles southwest of Dallas. As is so often the case when the feds announce the foiling of a US-based terrorist plot, Garza didn't actually get in touch with ISIS, but was instead maneuvered into engaging with undercover police and federal agents posing as terrorists. 

Garza's father tells NBC 5 that his son has been diagnosed with a neurological disorder, and never expressed pro-ISIS sentiments. He says authorities preyed on his impaired son, pushing him to take actions he'd never have taken of his own volition. 

Garza's father says his son has a diagnosed neurological disorder and wouldn't have tried to aid ISIS without undercover cops' encouragement (photo via NBC 5) 

Garza was arrested last week, but the case began in mid-October, when a "New York police employee" (as the DOJ release describes the person) came across Garza's social media account, and noticed that he followed several pro-ISIS accounts, and commented on one post by such an account. Next, that NYPD undercover contacted Garza via social media. After describing himself as a Mexican-American in Texas, Garza engaged with the undercover throughout November and December. He said he ascribed to ISIS's philosophy, and sent the undercover various official ISIS media releases. 

Garza also sent the uncover person "small amounts" of cryptocurrency -- allegedly with the understanding that he was helping ISIS buy weapons and other supplies -- and allegedly sent a video of a suicide vehicle-bombing and another giving instructions on creating explosives. He's also alleged to have explained how to mix explosive ingredients and surround them with nails. Next, the FBI says, Garza said he intended to buy bomb components, and agreed to meet with another person whom he believed to be an ISIS follower too. That meeting with an undercover FBI agent took place on Monday, Dec 22, with Garza allegedly handing over what the FBI describes as "several explosive components." The release doesn't specify if that was more than, say, nails and a PVC pipe. 

Bombs on the menu: Garza allegedly shared this bomb-making instructional video (not his own work) with undercover law enforcement (DOJ)

FBI Director Kash Patel proclaimed victory: 

“Today’s announcement underscores the FBI’s commitment to combatting terrorism and demonstrates our continuous work to disrupt and thwart terrorist plots against the American public. Let this serve as a warning to those who plan to conduct attacks against the United States on behalf of terrorist organizations – you will be brought to justice.”

More details should come out with a Dec 30 probable cause and detention hearing at the US District Court for Northern Texas. While Garza may have someday taken deadly action on his own, for now, the pivotal roles played by undercover NYPD and FBI agents can't help make us wonder if the case can be summed up with this classic meme: 

Tyler Durden Tue, 12/30/2025 - 16:40

From Tax-Cuts To Tariff-Stability: US Economy Poised For Solid Growth In 2026

Authored by Andrew Moran via The Epoch Times,

The turbulence that defined the U.S. economy in 2025 is expected to ease next year...

Following President Donald Trump’s unveiling of his sweeping global tariffs plan, the consensus on Wall Street was that the United States would potentially face a downturn or, at the very least, a stagflation-type scenario: anemic growth, high inflation, and elevated unemployment.

Those economic forecasts had appeared to be materializing after the economy contracted by 0.6 percent in the first quarter. However, in the following months, GDP growth rebounded to 3.8 percent in the second quarter and 4.3 percent during the July–September period.

If the Atlanta Federal Reserve’s widely watched GDPNow Model fourth-quarter estimate of 3 percent is accurate, full-year growth will be 2.8 percent—higher than the 2.1 percent Blue Chip consensus.

While surveys continue to highlight consumers’ frustrations with stubbornly high prices, the data show inflation has steadied, easing to 2.7 percent in November.

In the first year of the president’s second term, consumer prices have risen by approximately 2 percent, compared with an increase of about 6 percent during President Joe Biden’s first year.

Trump’s tariff pursuits have also helped the White House achieve its goal of narrowing the trade deficit.

In September, the U.S. trade gap unexpectedly shrank to $52.8 billion, the lowest level since June 2020. This was driven by a sizable increase in exports and a minuscule rise in imports.

The president has attributed these improvements to his administration’s trade pursuits.

“Tariffs are creating great wealth, and unprecedented national security for the USA,” Trump wrote in a Dec. 27 Truth Social post. “Trade deficit has been cut by 60%, actually unheard of. 4.3% GDP, and going way up. No inflation! We are respected as a country again.”

Employment conditions, meanwhile, have continued to cool off from the red-hot post-COVID-19 pandemic era levels.

The unemployment rate rose to 4.6 percent in November—the highest reading since September 2021. Although this remains historically low, market watchers fear that economic uncertainty could adversely affect payrolls, prolonging the recent trend of a “low fire, low hire” environment.

Although a multitude of headwinds gripped the U.S. economy throughout 2025—the government shutdown, “K-shaped” trends that saw stronger growth enjoyed by the wealthy, and tariffs—the nation shrugged them off.

Looking ahead, economic observers are optimistic about 2026, although with some reservations.

Boom Town

The world’s largest economy could face boom times as a series of tailwinds support the U.S. marketplace.

Goldman Sachs projects next year’s growth will be 2.6 percent.

BNP Paribas and the St. Louis Federal Reserve’s December 2025 Blue Chip Economic Indicators suggest the consensus 2026 GDP growth rate will be 1.9 percent.

“2026 is expected to be a solid year for the economy,” Mark Malek, CIO at Siebert Financial, said in a note emailed to The Epoch Times. “Fiscal stimulus is about to kick in from the One Big Beautiful Bill Act, continued AI CAPEX, smaller trade deficits, and the Fed.”

White House officials are betting big that fiscal stimulus from the One Big Beautiful Bill Act will be a victory for Main Street and Wall Street, contributing to growth prospects.

President Donald Trump, joined by Republican lawmakers, signs the One Big Beautiful Bill Act into law during an Independence Day military family picnic on the South Lawn of the White House in Washington on July 4, 2025. Samuel Corum/Getty Images

“We’re going to go back to the kind of non-inflationary growth where working Americans do better than supervised workers. Lower-income households do well,” Treasury Secretary Scott Bessent told Fox Business earlier this month.

“Main Street, Wall Street can both do well. And my guess is both have a very good year next year.”

The Federal Reserve’s less restrictive monetary policy stance could be another boon for the economic landscape.

Officials lowered interest rates three times in 2025, and the Fed is expected to cut rates at least once more in 2026. While the market has already priced in lower interest rates, they could begin to work their way through the economy as next year progresses.

At the same time, the central bank’s policy path in the second half remains uncertain as the president is expected to replace Chair Jerome Powell when his term expires in May.

“The focus now shifts to thresholds for January and 2026 and whether Powell can credibly signal a pause,” Christian Hoffman, head of fixed income at Thornburg Investment Management, said in a note emailed to The Epoch Times.

“With just one cut penciled in for 2026 and one for 2027, the Fed is threading the needle between risk management and not completely ignoring inflation.”

The continued buildout of artificial intelligence (AI), rising U.S. stock forecasts, and strong household balance sheets could be additional contributors to gross domestic product.

But while there is reason for optimism, there could still be risks ahead, says Rick Pederson, economist and chief strategy officer at Bow River Capital.

“I’m positive about the economy in 2026, with some reservations,” Pederson said in a note emailed to The Epoch Times.

“I don’t believe a recession is coming for a number of reasons, but that doesn’t mean there aren’t risks. It’s going to be an interesting year. I expect positive economic growth, but it won’t be without a few micro-level surprises.”

Tyler Durden Tue, 12/30/2025 - 16:20

RFK Jr. Drops 2026 MAHA Agenda To Banish Toxic Food Dyes And Kill Off Processed Poison

Authored by Steve Watson via Modernity.news,

In a game-changing move that’s set to shake up the corrupt food industry, HHS Secretary Robert F. Kennedy Jr. has unveiled his 2026 MAHA agenda – a no-holds-barred assault on the chemicals and loopholes poisoning the health of America.

The agenda, highlighted during a Fox News broadcast, targets eight critical areas: GRAS reform to close loopholes for untested additives, updating dietary guidelines to prioritize real nutrition over junk science, defining ultra-processed foods, front-of-pack labeling for radical transparency, a chemical review overhaul to weed out toxins, banning petroleum-based food dyes linked to hyperactivity and worse, enhancing infant formula safety, and launching a nutrition regulatory science program free from Big Pharma influence.

As highlighted in the segment by FDA Deputy Commissioner for Human Foods Kyle Diamantas, “2026 will be a fundamental transformational year for the Trump administration,” with Secretary Kennedy’s team at the FDA leading the charge on food reform.

? JUST IN: Secretary Robert F. Kennedy Jr.'s 2026 MAHA agenda has been RELEASED ?

– Petroleum-based food dyes
– Dietary guidelines
– Define ultra processed foods
– Infant formula safety
– "Generally Recognized As Safe" reform for food ingredients
– Front-of-pack labeling
-… pic.twitter.com/u9MpK0Si8Z

— Eric Daugherty (@EricLDaugh) December 30, 2025

Diamantas further urged, “This is an issue that has gone on for far too long in our country when you talk about our national nutrition crisis – 70% of Americans are overweight or obese, we have over half of young adolescents who can’t qualify for military service, and 15,000 new cases of diabetes each week. So we have deep problems in this country – we want to tackle those head on.”

This push comes amid broader MAHA victories, but not without resistance from entrenched interests. Just days ago, a federal judge blocked enforcement of H.B. 2354, calling it “unconstitutionally vague” and halting a state-level crackdown on seven harmful additives like FD&C Red No. 40 and Yellow No. 5.

West Virginia Gov. Patrick Morrissey had championed the bill, stating, “West Virginia ranks at the bottom of many public health metrics, which is why there’s no better place to lead the Make America Healthy Again mission. By eliminating harmful chemicals from our food, we’re taking steps toward improving the health of our residents and protecting our children from significant long-term health and learning challenges.”

Yet Kennedy’s federal agenda powers ahead, building on 2025 milestones like phasing out Red Dye No. 3 and reconstituting vaccine advisory committees with conflict-free experts.

The 2026 plan directly addresses the childhood chronic disease explosion – one in 31 kids now diagnosed with autism, allergies afflicting one in four children, and obesity rates that disqualify young people from defending the nation.

GRAS reform stands out as a major win against the “generally recognized as safe” scam that’s allowed over 1,000 untested ingredients into food since 1997 without proper FDA scrutiny. Kennedy’s team aims to slam that door shut, forcing real safety reviews instead of industry self-certification.

On dietary guidelines, due for a radical update in January 2026, expect a shift away from outdated saturated fat limits that have propped up processed garbage. As nutrition expert Jerold Mande noted in recent coverage, “They don’t see a strong future for animal products. They just keep getting more and more expensive,” pointing to a potential emphasis on whole foods over ultra-processed alternatives. School lunches and military meals could see massive improvements, with resources funneled toward fresh, untainted options.

Defining ultra-processed foods is another cornerstone, with Marlene Schwartz emphasizing, “If the dietary guidelines said something about ultra-processed foods that just got people paying attention, I think that would be great.” This could spark a nationwide awakening to the hidden dangers in everyday snacks, cutting into Big Food’s profits while slashing obesity and diabetes rates.

Front-of-pack labeling promises to empower consumers with clear warnings, bypassing the fine-print tricks that hide toxins. Coupled with the chemical review overhaul, this will expose and eliminate contaminants that have evaded oversight for decades.

The petroleum-based food dyes ban builds on Kennedy’s April 2025 pledge to eliminate six synthetic colors by year’s end, now extended into a full purge. Despite judicial roadblocks like the West Virginia ruling, federal action could override such hurdles, protecting kids from behavioral issues tied to these petroleum-derived poisons.

Infant formula safety gets a spotlight through Operation Stork Speed, reviewing options to ensure the youngest aren’t exposed to harmful additives. And the nutrition regulatory science program will rebuild trust by grounding policies in unbiased research, free from lobbyist corruption.

Kennedy’s 2026 blueprint is a declaration of independence from the forces eroding American vitality. By prioritizing clean food, transparent science, and family health, MAHA delivers on the promise of a stronger, freer nation.

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

Tyler Durden Tue, 12/30/2025 - 15:40

Zelensky Claims Trump Is Considering US Boots On The Ground In Ukraine

Ukrainian President Volodymyr Zelensky has newly claimed that US President Donald Trump is considering the possibility of deploying American troops to Ukraine as negotiations toward peace with Moscow stall. This is presumably connected with promises of future 'security guarantees'.

This is somewhat of a surprise, as the White House has made no indication of this in any statement whether public or based on anonymous officials. Throughout the nearly four-long war the question of Western 'boots on the ground' has been raised at various times. 

But the US - whether under Biden or Trump - has always denied that sending American troops into Ukraine is a solution. Instead, it's well understood that this could escalate things between Washington and Russia toward full-scale war.

Zelensky made the remarks during a WhatsApp conversation with journalists, according to Reuters national security correspondent Idress Ali, who then revealed his words on social media.

But the outlet has still stressed that Zelensky understands that the final decision rests with Trump.

"To be honest, this can only be confirmed by the President of the United States of America. These are US troops, and therefore it is America that makes such decisions. Of course, we are discussing this both with President Trump and with representatives of the Coalition [of the Willing]," Zelensky was quoted as saying.

And just like that, boots on the ground as a talking point is being echoed among EU leaders...

Polish Prime Minister Tusk:

The United States has declared its readiness to participate in security guarantees for Ukraine after concluding peace.

This includes, for example, the presence of American troops on the border or on the line of contact between Ukraine and Russia. pic.twitter.com/bIJUhyjQam

— Clash Report (@clashreport) December 30, 2025

Russian media has also picked up on the remarks...

Zelensky says US BOOTS ON THE GROUND in Ukraine being discussed

But troop deployment is ‘UP TO THE UNITED STATES’ pic.twitter.com/VCXa10ttDw

— RT (@RT_com) December 30, 2025

President Trump has regularly emphasized that he won't contemplate boots on the ground in Ukraine, for example last August:

President Donald Trump on Tuesday pledged that American troops would not be on the ground in Ukraine — but provided little other insight into the scale of U.S. security guarantees as he pushes to end Russia’s war on its neighbor.

"You have my assurance, and I’m president," Trump said on “Fox & Friends,” when asked what assurances he has that there won’t be American boots in the country to defend against another Russian incursion.

Needless to say such a moved, if he were to reverse his own policy, would be hugely unpopular among Trump's base. And broadly the American public would likely see such a risky move as recipe for another US troop quagmire abroad, and in a very complex battlespace.

Tyler Durden Tue, 12/30/2025 - 15:20

Everyone's A Lender Now: Shadow Banking USA

Authored by Charles Hugh Smith via OfTwoMinds blog,

How much private credit has been put in place but isn't in the official credit total is unknown and very likely unknowable. That means total systemic risk is also unknowable.

Everyone wants to lend us money now, even though they're not banks: the insurance company Progressive offered us a loan, PayPal offers us a business loan every time we log in, and the payment processor Stripe includes a pitch to borrow money on its dashboard page.

Then there's the ubiquitous payment plans offered by seemingly every vendor / retailer.

These are parts of the shadow banking system (SBS) that we see, but most of the system is hidden in the global economy's complex financial plumbing. The shadow banking system differs from nation to nation, as it developed to avoid whatever is tightly regulated or restricted within each banking system.

Here is a general definition:

 "Shadow banking in the U.S. refers to non-bank financial institutions and activities that provide services similar to traditional commercial banks but operate largely outside of conventional banking regulations. The sector has grown significantly in recent years and plays a major role in the financial system, though it also poses systemic risks due to its lack of transparency and regulatory oversight."

In a global economy dependent on credit, leverage, artifice and speculation, the expansion of shadow banking is highly incentivized. How much of this activity and debt ends up in official statistics of credit is hard to know, even for experts, given that the goal of shadow banking is to avoid the regulations and restrictions that increase transaction costs and limit risk.

Risk brings us to the treacherous territory between known unknowns and unknown unknowns, as risk is a funny thing: it cannot be extinguished, but it can be cloaked, transferred to others, sold to the unsuspecting as "safe," or buried beneath complexity. It can also lay dormant, slowly dissolving whatever holds the system together, a process that remains hidden until the avalanche surprises everyone who thought the snowmass was stable because it appeared stable.

These links shed some light on the scale, asymmetries and risks built into a sprawling, highly interconnected, highly leveraged shadow banking system with few institutional safeguards or backstops.

Shadow banking system

Nonbank Financial Intermediation (NBFI or "Shadow Banking") and Capital Markets Policy

Shadow Banks: Out of the Eyes of Regulators

Bank Turmoil Is Paving the Way for Even Bigger 'Shadow Banks'

Total known credit is already a systemic risk. 

How much private credit has been put in place but isn't in the official credit total is unknown and very likely unknowable. That means total systemic risk is also unknowable.

*  *  *

My new book Investing In Revolution is available at a 10% discount ($18 for the paperback, $24 for the hardcover and $8.95 for the ebook edition). Introduction (free)

Check out my updated Books and Films. Become a $3/month patron of my work via patreon.com. Subscribe to my Substack for free

Tyler Durden Tue, 12/30/2025 - 15:00

New Pattern Suggests Two "Sizable" Snow Events For US Northeast

Meteorologist Mike Masco has identified what he says could be a very active storm pattern for the Northeast and Mid-Atlantic from around New Year's Day into mid-January.

"I've been deconstructing the pattern this morning, and there are three key features that support an active stretch across the Northeast and Mid-Atlantic, including the potential for at least two sizable snow events, plus several smaller ones," Masco wrote on X.

Masco is a meteorologist for New York City-based PIX11 News and focuses on the Northeast and Mid-Atlantic regions.

He explained what the active post-New Year pattern could bring on a region-by-region basis:

• West-based negative NAO (Greenland block), shown by the black circle, slows the pattern and reorients the jet stream from southwest to northeast, and at times south to north. This keeps shortwaves and lows closer to the coast. It is not a guaranteed blockbuster, but it keeps inverted troughs and sneaky coastal setups in play, with one possible around New Year's Day.

• Rockies ridge (critical), shown by the purple box, forces storm energy south of New York City and Philadelphia. Without it, storms track north and turn weaker and wetter. With it, colder tracks and better snow potential are more likely.

• Western Atlantic ridge (underrated), shown by the blue box, helps keep systems near the coast and supports Miller B-type setups, favoring more traditional snowstorms rather than just clippers.

Timing: The pattern sets up around New Year's Day and lasts into mid-January. There is no locked-in timeline for a major storm yet. A New Year's Eve or New Year's Day clipper is likely to bring light snow across the region, with redevelopment potential toward Boston.

Here is Masco's forecast map:

Peak winter is still several weeks away.

Washington, DC's Heating Degree Days, a weather-based metric used to estimate how much energy is needed to heat buildings, will be above 30-year averages. 

This implies higher NatGas demand, thus higher prices. 

NatGas prices jumped in November and December on cold weather patterns across the US East.

Tyler Durden Tue, 12/30/2025 - 14:40

Silver Coins: Memories Of Sound Money

Authored by Jeffrey Tucker via The Epoch Times,

The financial press reports that people are swarming the coin shops these days, grabbing as much as possible. This is exactly what one would expect given the wild and parabolic increases in the silver price over the last month, moving from $30 to $75 in the period of one year.

Such increases tend to focus the mind and incentivize regular people to join in the fun.

Silver tends toward these wild manias, suffering from neglect for years before taking off out of seemingly nowhere. That said, I did call it in these pages. “Now Is the time for silver,” I wrote in June of 2025.

The wild bull market seems to reflect new levels of demand from AI and solar panels. There is no better conductor of electricity or temperature. Nothing from the lab can come close. There is also the perception that supplies are dwindling. Put it together—supply and demand—and the magic just happens.

If you are among those who are stocking up on coins—not merely calling your broker about silver ETFs—you might take a few minutes to look more carefully at the dates of these coins.

The year was 1965, the great turning point. The last 90 percent silver circulating coins (dimes, quarters, half-dollars) were dated 1964, and everyday “silver coinage” ended with that date for most denominations.

How significant was this? It was huge.

Silver coins were about real money in the hands of real people, not bankers and not politicians. They were a guarantor of freedom, one even mentioned in the U.S. Constitution “No State shall... coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts,” says Article I, Section 10, Clause 1.

The Founders knew the meaning of sound money, and made it a mandatory matter that any state that is part of the great union had to adhere to the silver standard. Much later, all money and coinage power were transferred to the federal government, making the point mute. But then of course the federal government made an enormous error.

Why did this happen? Lyndon Johnson had taken over the Presidency after the assassination of John F. Kennedy. Kennedy had hoped to impose a nationwide silver standard as a means of restraining the central bank. After he was killed, the goal was sidelined. The money in our pockets was wrecked. From being made of the real deal, they all eventually became what is known as “baloney sandwich” coins—nothing but tokens.

The rest of the world followed. Why? There is really only one reason. Governments, banks, and corporate finance did not like the restraints imposed by precious metals. It was seen as too costly and restrictive whereas coining mere symbols seemed to be a savings. There was a welfare state to create and fund, plus a big war building in Southeast Asia. In such times, governments need resources that hard money simply does not allow.

Another critical point about these times: this was the turning point in public confidence in government. The assassination of Kennedy was a devastating blow, especially in the way that so few actually ever believed the official story about how and why it happened. Government never recovered its credibility. The destruction of the money was the telltale sign that something had gone seriously wrong.

Confidence in government peaked at 77 percent in 1964 and then began its long slide. It sits at 17 percent today.

Chart source: Pew Research

This is an astonishing and undeniable trend about which few will publicly speculate. The bigger government gets, the more it takes on, the less the public trusts it to do the right thing. This is because the people are not stupid. They follow the evidence of their senses. And keep in mind that the main trends happened long before independent media was hard at work to pull back the curtain on power, as it is today.

Daily we discover more depths of corruption, thanks mostly to independent reporters and scrupulous reporting from The Epoch Times. A video detailing the mind-blowing corruption in Minnesota has reached more than 100 million views, making the legacy media irrelevant by comparison. The COVID period was also another decisive turning point: scientists with power ruled your life in the name of health while taking away the means to obtain health.

The slide can only continue in the future, and it is likely that the only kind of politician who stands a chance of getting elected is one who promises to overthrow the system as it is. This is our lives now, just the way things work in a society of low trust.

The beauty in holding and jangling pre-1965 silver is nostalgia for a time when government was somewhat restrained, corporate finance was built by hard work and real capital, people were highly educated, and freedom itself was baked into our coinage. Plus, silver just feels great in one’s hand, adopting the temperature of the room and the holder as if a magic trick is happening right before you.

I long for the days of real money and probably you do too. And it raises the question: how can we get it back? I wish I had the answer but plenty of people are not waiting for government to make it happen. Much of the demand for silver these days stems from what’s called “safe haven” demand. You just know that even if or when fiat money fails, this silver will still be accepted in payment.

Who doesn’t feel safer and more secure with a few large bags of pre-1965 dimes and quarters on hand? This was the last period in which the United States minted real money as opposed to symbols made of paper and tin. That was more than half a century ago, and public nostalgia for this period of our national life has reached new highs.

Someone just asked me of the chances that government will in the future demand that we all turn in our silver, the same way they did in 1933 for gold. One supposes it is possible, and you can imagine the rationale: industry needs supply to make the AI revolution and the energy transition possible. Certainly they have the power to do so.

That said, how many will comply? In 1933, plenty of people did not assent with the demand to turn in gold and instead found other safe havens for it. The same would be true today for silver. Plus, I seriously doubt that any president or Congress would risk what remains of credibility by undertaking such an action. There would be real risk of revolution.

We aren’t likely going back to a silver standard but people are adopting it in their own lives, even choosing the old-world money over crypto currency certainly over fiat which is only falling in value. Remember that one version of the history of the world dollar comes from the Spanish coin “thaler.” That memory is alive and well in every coin shop in this country, and in the bags of silver you might be accumulating now, just in case.

Tyler Durden Tue, 12/30/2025 - 14:20

FOMC Minutes Confirm 'Most' Fed Officials Expect More Rate-Cuts, Divisions Remain

Since the last FOMC meeting on Dec 10th (which resulted in a more-dovish-than-expected 25bps rate cut along with 3 dissents), precious metals have been the biggest gainers (as the dollar weakened) while crude oil has been a laggard. Stocks small bid, bonds unch...

Source: Bloomberg

Crypto has notably decoupled from gold and stocks...

Source: Bloomberg

Rate-cut odds have risen significantly, most notably March...

Source: Bloomberg

With a very divided Fed having been exposed (the most dissents in 37 years), the outlook is unclear, but the demanding markets are not...

“I joke that the equity market is like a kid in a candy store, braving a sugar high for more policy accommodation, a more dovish Fed — but it doesn’t know what’s good for it,” said Amanda Agati, PNC Asset Management Group’s chief investment officer said on Bloomberg Television on Tuesday.

“The bond market is the adult in the room taking away the last lollipop. It is maybe the first time in observable market history that we’re seeing the market react to the deficit and debt level concern. I think there’s continued upward pressure on long yields, for sure.”

Given the lack of major catalysts and with news flow and trading volumes generally low, investors will focus on the Fed’s release of meeting minutes as the market remains notably more dovish than The Fed's Dots...

"Markets are looking to the minutes for clearer signals on the Federal Reserve's policy trajectory in 2026, at a time when year-end liquidity is thin, and price action may be amplified," Tickmill Group's Joseph Dahrieh says in a note.

If the minutes lean decisively towards further interest-rate cuts in 2026, this could weigh on the dollar and Treasury yields, he added.

A more balanced or cautious tone about rate cuts could provide near-term support.

"How divided?" and "What about 'Not QE'?"

So what did The Fed want us to know?

The minutes underscored the deep split on the 19-member policymaking committee over what constitutes the biggest threat to the economy: weak hiring or stubbornly-elevated inflation.

Most officials see additional interest rate cuts as appropriate if inflation declines over time as expected.

Yet, some officials made clear they believe rates should remain on hold “for some time” after the December gathering.

The minutes showed that even some Fed officials who supported the rate cut did so with reservations.

“A few of those who supported lowering the policy rate at this meeting indicated that the decision was finely balanced or that they could have supported keeping the target range unchanged,” the minutes said.

But, that statement suggests the division was not as deep as some have suggested.

The minutes continued to point to considerable differences among policymakers over whether inflation or unemployment posed the greater peril to the US economy.

“Most participants noted that a move toward a more neutral policy stance would help forestall the possibility of a major deterioration in labor market conditions,” the minutes noted.

At the same time, it continued, “several participants pointed to the risk of higher inflation becoming entrenched and suggested that lowering the policy rate further in the context of elevated inflation readings could be misinterpreted as implying diminished policymaker commitment to the 2% inflation objective.”

Finally, the Minutes confirmed that participants judged that reserve balances had "declined to ample levels" - making it appropriate to initiate purchases of shorter-term Treasury securities to maintain an ample supply of reserves over time.

For now, the markets are unmoved by any of this with rate-cut odds unchanged and stocks aggressively going nowhere.

Read the full FOMC Minutes below:

Tyler Durden Tue, 12/30/2025 - 14:05

Trump Admin Launches $50 Billion Rural Health Transformation Program

Authored by Kimberley Hayek via The Epoch Times,

The Trump administration plans to distribute between $147 million and $281 million to each U.S. state in 2026 through a widespread rural health program designed to provide better access to medical care in rural areas.

The effort, which is one aspect of the One Big Beautiful Bill Act, earmarks $50 billion across five fiscal years, making available $10 billion annually from 2026 to 2030 to all 50 states. Centers for Medicare & Medicaid Services Administrator Mehmet Oz revealed the plan Monday, underscoring its goal to reverse the trend of long-term declines in rural health metrics while avoiding building out costly new infrastructure.

“This is a massive effort to change the unfortunate reality that has overtaken rural healthcare in America, which is that your ZIP code has started to predict your life expectancy,” Oz told reporters. He said the money will also go toward other pilot projects across the country.

Administration officials said that half the funds will be divided evenly between the states, with the other $25 billion apportioned according to rural healthcare infrastructure, state-led reforms, and application-based proposals. Funds could be reclaimed if states fail to meet benchmarks or neglect their committed reforms.

“The purpose of this $50 billion investment in rural healthcare is not to pay off bills,” Oz said.

“The purpose of this $50 billion investment is to allow us to right-size the system and to deal with the fundamental hindrances of improvement in rural healthcare.”

The announcement comes as rural hospitals have been at the center of Medicaid overhaul discussions.

“We have an unstable market that is causing lots of potential peril to Americans who need our help the most,” Oz told reporters in June.

This rural push aligns with Trump’s fiscal 2026 “skinny budget“ for the Department of Health and Human Services, cutting discretionary spending by 33 percent to $80.4 billion and axing 20,000 jobs.

Those reforms combine multiple agencies into a new Administration for a Healthy America, which integrates rural programs and redirects any savings from the streamlining to HHS Secretary Robert F. Kennedy Jr.’s priorities, including environmental health, mental health services, and chronic disease prevention.

The administration has also highlighted $14 billion in identified Medicaid fraud, waste, and abuse through the Department of Government Efficiency, as highlighted by Oz earlier this year.

“There’s about $14 billion we’ve identified with DOGE, of folks who are duly enrolled wrongly in multiple states for Medicaid,” Oz told Fox News’s “Sunday Morning Futures” in May.

Complementary measures include agreements with nine pharmaceutical firms to cut drug costs and expanded coverage models for select weight-loss medications in a bid to help rural patients.

Tyler Durden Tue, 12/30/2025 - 13:45

"Massive Abuse": HUD Audit Flags $5B In Improper Housing Assistance During Biden's Term

A new report from the US Department of Housing and Urban Development has found that more than $5 billion in federal rental assistance during fiscal year 2024 went to potentially ineligible recipients, including nearly 30,000 deceased individuals and thousands of non-citizens, according to MSN and the NY Post.

The audit, conducted by HUD’s Office of the Chief Financial Officer, reviewed nearly $50 billion in housing aid and identified $5.8 billion — about 11% — as “questionable.” More than 200,000 tenants were flagged, including 29,715 listed as deceased, 9,472 non-citizens, and 165,393 households receiving payments above local eligibility limits, particularly in large metro areas such as New Orleans. Officials said suspicious payments appeared nationwide, with heavy concentrations in New York, California and Washington, DC.

“A massive abuse of taxpayer dollars not only occurred under President Biden’s watch, but was effectively incentivized by his administration’s failure to implement strong financial controls resulting in billions worth of potential improper payments,” HUD Secretary Scott Turner said. “HUD will continue investigating the shocking results and will take appropriate action to hold bad actors accountable.”

Marcia Fudge

The Post writes that the report faults federal directives that pushed funds out quickly “with minimal oversight,” while relying heavily on local housing authorities and contractors to verify eligibility. HUD said it is now reviewing funding for agencies involved and may suspend or revoke payments.

“HUD is implementing processes and procedures to revoke or pause funding as part of its efforts to hold bad actors accountable,” one official said. “Additionally, the Department could make criminal referrals and exercise other enforcement actions once it has confirmed fraud occurred.”

A HUD official also revealed that the department is implementing processes and procedures to revoke or pause funding as part of its accountability efforts. 

HUD disbursed just under $50 billion in federal rental assistance to non-federal entities (i.e., housing authorities, contract administrators, and landlords) during FY 2024, including more than $16 billion in Project-Based Rental Assistance (PBRA) and over $33 billion in Tenant-Based Rental Assistance (TBRA), serving more than four million households. This disbursement of funding design along with complex eligibility and program requirements, increased the risk of payment errors and highlights the necessity for more robust monitoring and verification tools for the rental assistance programs.

The directive from the Biden Administration to push funding out the door with minimal oversight and the design of HUD's rental assistance programs placed substantial trust and responsibility in these non-federal entities, such as housing authorities, contract administrators, and landlords, to accurately assess tenant eligibility for two of the most complex rental assistance programs. 

The report also accuses the Biden administration of not providing HUD “with effective tools, technology, or access to the evidence necessary to verify whether these entities were properly enforcing the intricate rules governing rental assistance.” 

The findings follow earlier warnings. A 2022 HUD Inspector General audit said the agency “needed significant improvement” in its antifraud systems and lacked clear procedures for reporting suspected fraud.

In February 2024, prosecutors charged 70 current and former New York City Housing Authority employees in what US Attorney Damian Williams called “the largest single-day bribery takedown in the history of the Justice Department,” involving millions in kickbacks and corrupt contracts. NYCHA, which receives billions in HUD funding annually, said: “NYCHA partners with law enforcement to root out the corruption that directly led to the 2024 arrests… Each of the 70 cases brought by DOI has led to a conviction.”

Former HUD Secretary Marcia Fudge and former Deputy Secretary Adrianne Todman did not respond to requests for comment.

Tyler Durden Tue, 12/30/2025 - 13:25

What Do The Top Search Trends Of 2025 Say About The Current State Of Our Society?

Authored by Michael Snyder via TheMostImportantNews.com,

What do our Google searches tell us about ourselves?  I think that many of you will be quite surprised by what I have to share in this article.

 “Google’s Year in Search” for 2025 has been released, and it is a doozy.  The past 12 months have been so crazy, and the top search trends of 2025 certainly reflect that.

Let’s start with the top search trend.

“Charlie Kirk” is number one on the list, and his assassination completely shocked the nation.

But it certainly was not an isolated incident.

Political violence is on the rise in our society.  In fact, if President Trump had not moved his head slightly at just the right moment at a rally in Butler, Pennsylvania last year, he would not be in the White House today.

Charlie Kirk was a prominent figure before his death, but after he died suddenly everyone knew who he was.

Unfortunately, I believe that we will see even more political violence in 2026.  There is just so much anger and frustration out there right now on all sides.

“KPop Demon Hunters” is number two on Google’s list, and that stunned me. According to Wikipedia, it is “a 2025 animated musical film from Sony Pictures Animation and Netflix about a K-pop girl group, HUNTR/X, who secretly fight demons while performing, facing off against a rival demon boy band called the Saja Boys”.

Needless to say, it is particularly popular among young people.

This year our society continued to be fascinated by entertainment that explores very dark themes, and that is quite alarming.

And we see this with the third item on the list as well.

According to Wikipedia, Labubu is “a popular line of collectible, mischievous-looking elf-like monster figures created by Hong Kong artist Kasing Lung, known for their large ears, sharp teeth, and scruffy appearance, sold primarily through blind boxes by the company Pop Mart, which has led to a global craze and high resale demand.”

The sharp teeth and bizarre eyes certainly make them look like monsters.

In the old days, kids would play with teddy bears and other stuffed animals.

But now kids want to play with creatures that look like they have been pulled straight out of a nightmare.

I don’t think that is a good thing.

The iPhone 17 came in at number four on the list, and that shouldn’t surprise anyone.

Most of us are so addicted to our phones, and I don’t think that is going to change any time soon.

The “One Big Beautiful Bill Act” came in at number five in the list, the government shutdown came in at number eight in the list, and “tariffs” came in at number ten in the list.

I think that is quite appropriate, because this is a year when the news was so focused on political drama.

Donald Trump’s first year in office was an extremely busy one, and people all over the country were endlessly talking about it.

There are tens of millions of Americans that absolutely love Trump, and there are tens of millions of Americans that absolutely hate Trump.

Of course Donald Trump will continue to play a central role in our society for as long as he remains in the White House.

A new political star on the left made the list at number six.

New York elected a “democratic socialist” named Zohran Mamdani as their new mayor, and suddenly he has become a major national celebrity.

That is pretty remarkable considering the fact that he wasn’t even a U.S. citizen a decade ago.

“DeepSeek” came in at number seven on the list, and I was glad to see that a term associated with AI was represented.

For better or worse, AI is in the process of transforming virtually every area of our society.

Interestingly, the FIFA Club World Cup ranked number nine on the list.

I still don’t think that Chelsea deserved to win the final, but PSG just didn’t show up that day for some reason.

Personally, I was shocked that the Epstein files did not make the top ten, but it did rank number eight in “news searches”.

To me, the drama surrounding the Epstein files was perhaps the most important political story of the year.  It has dramatically shifted political opinion, and I think that much of the damage that has been done is permanent.

When they were finally released, they were so heavily redacted that they didn’t tell us much that we didn’t already know.

And now we are being told that they have discovered a million more documents that hopefully we will get to see eventually.

2025 has been so wild, and now 2026 is nearly upon us.

27 years ago, USA Today and Gallup asked Americans what they thought 2025 would be like…

In the year 1998, Bill Clinton was facing impeachment proceedings, “Titanic” was cleaning up at the Oscars and most households still had landline phones. Gallup and USA Today called up 1,055 Americans on those landlines and asked them for their best predictions about a year in the distant future: 2025.

It turns out that those that responded to the survey were quite accurate about certain things, but on other matters they were way off…

Some were surprisingly prescient. Most Americans predicted that, over the next 27 years, the country would have elected a Black president, gay marriages would be legal and commonplace and a “deadly new disease” would have emerged.

Most people in 1998 correctly doubted that space travel would be common for ordinary Americans or that alien life forms would have made contact.

Other predictions didn’t hold up as well. About two-thirds of Americans thought the country would have elected a female president by now. More than half expected a cure for cancer and 61% expected that “people will routinely live to be 100 years old.”

Wouldn’t it be nice if most people lived to be 100 years old?

Sadly, life expectancy in the U.S. has fallen to the lowest level since 1996.

The first half of this decade brought us the pandemic, several major wars, the AI revolution and an endless series of natural disasters.

But if you thought that was wild, just wait until you see what happens during the second half of this decade.

The pace of change is about to go into overdrive.

So buckle up and hold on tight, because things are about to start getting really, really crazy.

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 Tue, 12/30/2025 - 13:05

DOJ Grants Antitrust Immunity To Nuclear Fuel Companies

The Department of Justice (DOJ) Antitrust Division recently authorized antitrust immunity to companies involved in the domestic nuclear fuel chain. 

Today the DOJ Antitrust Division helped deliver on the critical need to expand energy infrastructure to help America win the AI race.

The Division has approved a framework to encourage industry and government collaboration to strengthen our nuclear fuel supply chain pursuant to…

— Antitrust Division (@JusticeATR) December 16, 2025

Stemming from the set of nuclear industry Executive Orders (EOs) issued earlier this year on May 23rd, the Department of Energy (DoE) established the Nuclear Fuel Chain Defense Production Act (DPA) Consortium back in August to meet some of the goals directed by the EOs. The consortium has since been working “to develop plans of action to ensure that the nuclear fuel supply chain capacity for mining and milling, conversion, enrichment, deconversion, fabrication, recycling and reprocessing is available to enable the continued reliable operation of the nation’s reactors.”

After some initial hype following the consortium’s establishment, rumors kicked back up about the potential for the government building a Strategic Uranium Reserve (SUR). However, most of the interest in the consortium’s activities/goals fell off after the government shutdown delayed the first meetings of the new group.

Fast forward to last week when the DOJ completed the required justification for the US government to enter into agreements with companies involved in the nuclear fuel chain that would have otherwise been illegal under antitrust laws. The DOJ presented their findings on December 19th, stating “the purposes … of the DPA may not reasonably be achieved through a voluntary agreement having less anticompetitive effects or without any voluntary agreement. Given this finding, the proposed Voluntary Agreement may become effective”.

So, what next? Most likely, press releases will start coming out from fuel chain companies over the next few weeks as they sign agreements with the DoE for capacity expansions or offtake deals at the various stages. Here's some companies to keep an eye on:

• Uranium mining - UEC, EU, URG, and UUUU
• Uranium milling - UUUU, AEC, and UEC
• Uranium conversion - SOLS, SILXY, and UEC
• Uranium enrichment - LEU, NNE, SILXY, ASPI, and BWXT
• Fuel fabrication - CCJ, GEV, BWXT, OKLO, and ATI
• Recycling and reprocessing - OKLO, FLR, AMTM, and BWXT

There’s also a long list of Canadian- and Australian-owned uranium mining companies, large private enrichment corporations, and dozens of others that will likely be involved at the various stages, but the above tickers are the most likely publicly-traded participants.

Tyler Durden Tue, 12/30/2025 - 12:45

Ron Paul Praises Trump Taking A Step Toward Liberty

Authored by Ron Paul,

President Trump recently signed an executive order changing marijuana’s Controlled Substances Act classification from Schedule I to Schedule III.

Schedule I is supposed to include especially dangerous drugs that are likely to be abused and have no medical purpose.

Whatever one thinks of the wisdom and morality of using marijuana, the fact is it is less addictive, and quite possibly safer, than alcohol.

Many Americans who live in one of the 40 states that have legalized medicinal marijuana use it for a variety of ailments.

Reclassifying marijuana does not repeal federal laws criminalizing its use. The reclassifying does, though, facilitate research into marijuana’s medical benefits.

It also enables marijuana businesses that are legal under state laws to take ordinary deductions on their taxes. While President Trump’s executive order is a step forward, those who support advancing liberty must continue to press for repeal of all federal drug laws.

The Constitution does not give the federal government any authority to outlaw marijuana or any other “illicit” substance.

At least supporters of alcohol prohibition understood that a constitutional amendment was needed to impose a national ban on alcohol. The war on drugs has been a primary excuse for violations of liberties including unconstitutional searches and seizures, “no-knock raids,” bank reports to the federal government on those making large cash deposits, and draconian mandatory minimum sentences. The drug war has also been used to justify foreign interventions — such as President Trump’s current actions against Venezuela.

Defenders of the drug war say it is necessary because the drug trade is controlled by violent criminals — even though this is the inevitable result of outlawing a product people wish to consume. The most important reason to end the drug war is that government has no moral right to stop adults from engaging in a peaceful (even if unwise) behavior like smoking marijuana. Laws prohibiting drug use have no place in a free society. These laws are rooted in the idea that our rights are merely gifts from the government conditioned on our “good “behavior. A government that can stop people from smoking marijuana is a government that can also mandate what vaccines we receive and how our children are educated.

Of course, in a free society, an individual who uses drugs would be responsible for the consequences of his choices, and those who oppose drug use could exercise their right to try to persuade others to abstain from drug use.

When I campaigned to return to Congress in 1996, both Republicans (in the primary) and Democrats (in the general election) focused on attacking my position on drugs.

In response, I explained that the federal government has no authority to outlaw drugs and that the police state being built to stop drug use threatens all our liberty. The responsibility for combatting drug use belongs elsewhere, such as with churches and family members. I summed up my position as not pro-drug, but pro-liberty. In the end, I won that race. The people have been ahead of politicians in understanding the folly of the drug war.

All of us who value liberty must oppose the drug war. We should speak out for replacing various mandates and punishments of the drug war with increased respect for individual rights. We should also be steadfast that the end goal be a complete ending of the federal government’s drug prohibition.

Tyler Durden Tue, 12/30/2025 - 11:45

Gas Prices Drop For 5th Consecutive Week; Lowest NYE Level Since COVID

Authored by Rob Sabo via The Epoch Times,

Gas prices continued their sharp downward trend throughout December, falling by nearly 23 cents over the month to a national average of $2.75 per gallon on Dec. 29—the lowest level recorded since 2021, according to a report by fuel price comparison app GasBuddy.

The national average price of diesel fuel, meanwhile, was $3.52 per gallon, a dip of more than $0.05 from a week earlier, GasBuddy reported.

Increased domestic production, along with a late-year ramp-up in production by members of OPEC+, a coalition of oil-exporting nations, has led to increased domestic and global supply, despite ongoing sanctions against oil-rich countries such as Russia and Venezuela.

According to Patrick De Haan, GasBuddy’s head of petroleum analysis, the national average price for gasoline has declined in all but a handful of U.S. states.

“Oil prices have remained relatively low even amid the U.S. blockade on Venezuela’s oil exports,” De Haan said in a statement.

“With refineries running at seasonally high output and gasoline inventories building, most states—outside of price-cycling markets—have continued to see declines, with some stations in nearly a dozen states now dipping below the $2-per-gallon mark.”

He said the trend could continue for a while before prices ultimately bottom out, likely in January or February.

U.S. crude oil producers’ output of nearly 17 million barrels per day (bpd) for mid-December was about 12 percent higher than the 15.2 million bpd produced in late October, the Energy Information Administration (EIA) reported. Meanwhile, eight members of OPEC+ announced in October they would increase oil production by an additional 137,000 barrels per day beginning in December.

Global petroleum inventories rose on average by 1.8 million bpd in the second and third quarters of 2025, EIA analysts said. China accounted for about 1.1 billion barrels per day of the inventory growth.

However, the relief at the pump may be short-lived. The price of U.S. crude jumped by 2.1 percent during Dec. 29 trading to settle at just under $58 per barrel. Brent crude, the international standard, was up by 1.88 percent and finished the day’s session at $61.78 per barrel.

The GasBuddy report compiled data from more than 12 million price reports from more than 150,000 gas stations throughout the United States. Average gasoline prices were lowest in Oklahoma at $2.17 per gallon, followed by Colorado and Texas at $2.33 per gallon each. All three states had the lowest average prices for diesel fuel as well, at $2.92, $2.99, and $3.02, respectively.

Average prices for a gallon of gas were highest in Hawaii at $4.36 and California at $4.20. Diesel fuel was highest in both states at $5.16 and $4.88 per gallon, respectively.

Regionally, gas prices were highest across the West Coast at $3.76 per gallon for the week ending Dec. 22, EIA reported. Prices were lowest in the Gulf Coast region at $2.44.

Tyler Durden Tue, 12/30/2025 - 11:05

IRS CEO Says 94% Of Middle-Class Taxpayers Will See Tax Relief Next Year

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

The CEO of the IRS said during an interview on Dec. 23 that 94 percent of middle-class Americans will see some form of tax relief next year.

The sign outside the Internal Revenue Service building in Washington. AP Photo/Patrick Semansky, File

“You’re going to look at probably 94 percent-plus of middle-class Americans getting a boost, your tax rates coming down, and getting the benefit going forward,” said IRS CEO Frank Bisignano, who is also the commissioner of the Social Security Administration, during an interview with Fox Business.

He said that Social Security recipients will see “up to a $6,000 benefit as [the Trump administration is] committed to the benefits of Social Security not being taxed.”

Bisignano’s comments come after Treasury Secretary Scott Bessent and White House economic adviser Kevin Hassett have both projected significant refunds in the 2026 tax year because of legislation that was signed into law over the summer by President Donald Trump.

Bisignano was named as the first CEO of the federal tax revenue agency, which is a position that the Trump administration created in October.

Trump also said in a year-end speech that many American families could save between $11,000 and $20,000 per year under the tax and spending package.

Hassett has been floated as a possible successor to current Federal Reserve Chairman Jerome Powell.

The Trump administration has been teasing proposals to address cost-of-living concerns, including tax refunds and dividend checks derived from tariffs. Since the elections last month, in which Democrats secured victories in several states and municipalities, Republicans have intensified their focus on the economy. During a recent speech, Trump unveiled a $1,776 bonus to U.S. troops.

Democrats, including Senate Minority Leader Chuck Schumer (D-N.Y.), have been critical of the Trump administration’s economic policies, saying that the White House is out of touch.

In a Dec. 18 post on X, for example, the Democratic leader said that Trump “lives in a bubble completely disconnected from the reality everyday Americans are seeing and feeling” and that Americans “are feeling squeezed harder and harder every day.”

Meanwhile, the administration received a boost on Dec. 17 as the Labor Department released its consumer price index report for November, showing an overall drop in inflation. And the U.S. gross domestic product grew at a rapid rate of 4.3 percent in the third quarter of 2025, according to a report issued on Dec. 23 by the federal Bureau of Economic Analysis.

Next year’s tax-filing season starts Jan. 28, 2026, and ends on April 15, 2026.

Tyler Durden Tue, 12/30/2025 - 10:30

Jennings: "Until Somebody In Power Goes To Jail", Blue State Fraud Won't Stop

Authored by Steve Watson via Modernity.news,

In a heated CNN clash, conservative commentator Scott Jennings called out the lack of real accountability in Democrat-run states, demanding elected officials face consequences for enabling billion-dollar scams.

Jennings addressed the rot in blue states where massive fraud schemes have flourished under lax oversight. Facing pushback from host Abby Phillip, Jennings insisted that prosecuting small-time operators isn’t enough—real change demands jailing those at the top who allowed it all to happen.

The discussion centered on the sprawling welfare fraud in Minnesota, but Jennings expanded it to a nationwide indictment of blue state governance. When Phillip defended ongoing probes, saying, “This idea that nothing is being done, that no one is being held accountable, that this was just left to run rampant, is completely false,” Jennings countered sharply.

This was another watershed moment on CNN.

Scott Jennings used his voice to speak for the millions of Americans fed up with fraud running roughshod in blue states across the country.

Abby Phillip tried to push her narrative about the Somali fraud scheme in Minnesota…but… pic.twitter.com/MfN93LqyOt

— Overton (@overton_news) December 30, 2025

“Well, some people have been held accountable. But I think in the opinion of most Republicans, not nearly enough,” he replied.

He then delivered the core demand: “And truthfully, until somebody in a position of power, until somebody in a position in Minnesota, elected position, who was in charge of administering this or having some oversight over it, goes to jail, it’s honestly never going to stop.”

Jennings broadened the scope: “Look what’s going on in blue states across the country: 9 billion in Minnesota, 70 billion in fraud in California, cooking the crime stats in Washington, D.C.”

Driving the point home, he asked, “When is someone in a position of power going to go to jail for the rampant fraud?” and added, “You can put all the low-level people in jail you want, but until somebody in charge goes to jail, it won’t stop!”

The scandal Jennings spotlighted involves Somali-led operations in Minneapolis, where billions in federal welfare funds—intended for children and the vulnerable—were siphoned through fake daycares and shell companies.

Estimates peg the theft at $9 billion in Minnesota alone, part of a larger pattern tied to unvetted immigration and weak enforcement. The Trump administration’s DOJ is now intensifying efforts, with door-to-door probes by Homeland Security targeting suspected sites.

DHS is on the ground in Minneapolis, going DOOR TO DOOR at suspected fraud sites.

The American people deserve answers on how their taxpayer money is being used and ARRESTS when abuse is found. Under the leadership of @Sec_Noem, DHS is working to deliver results. pic.twitter.com/7XtRflv36b

— Homeland Security (@DHSgov) December 29, 2025

This surge follows viral exposures, including a video by Youtuber Nick Shirley touring dozens of Somali-run daycares implicated in the schemes.

Attorney General Pam Bondi has charged 98 individuals in Minnesota fraud cases, with over 60 convictions. More probes are underway, signaling an end to the free pass for blue state elites.

This isn’t isolated—it’s the byproduct of years of open borders flooding communities with unassimilated groups, creating ripe ground for abuse. As Jennings laid bare, without holding powerful Democrats accountable, the cycle of theft from American taxpayers continues.

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

Tyler Durden Tue, 12/30/2025 - 09:50

CIA Drone Carried Out First Known Land Strike On Venezuela 

The CIA is reported to have carried out a bombing operation within Venezuelan territory, CNN and The New York Times report in follow-up to President Trump touting that the US had knocked out "a big facility".

CNN while citing unnamed sources, reports that the CIA conducted a drone strike on a remote dock along Venezuela's coastline, after the US suspected the site was being used to store and transport illegal drugs, and which were supposedly bound for America.

Illustrative: MQ-9 Reaper Drone

Reports indicate the location was unoccupied at the time of the strike, which occurred earlier this month. The New York Times published a similar account based on anonymous sources, specifying that the operation took place last Wednesday.

As we detailed, President Trump had on Friday in a radio interview disclosed something which missed the attention of the US and global media. He let slip that a large land site had been knocked out by a strike from US forces in the Caribbean.

Trump may have actually assumed the attack which he disclosed publicly for the first time was already being reported on, but it had not. He was being interviewed by John Catsimatidis, the Republican billionaire who owns the WABC radio station in New York on his The Cats & Cosby Show, and the two were talking about the Venezuela campaign. 

"They have a big plant or a big facility where the ships come from," Trump said, though he did not explicitly identify the exact location or even country attacked. "Two nights ago we knocked that out."

Interestingly, the remarks generated almost no headlines for much of that weekend. But by Monday he expanded on those remarks during a press conference, saying the target was located on Venezuela's coast and that a "major explosion" occurred at a dock where boats were supposedly loaded with drugs.

"There was a major explosion in the dock area where they load the boats up with drugs," he told reporters at Mar-a-Lago, his club and residence in Florida.

"They load the boats up with drugs. So we hit all the boats, and now we hit the area. It’s the implementation area, that’s where they implement, and that is no longer around."

But even after this, neither CIA, nor White House, nor Pentagon would comment. Even more strange was that Venezuelan officials themselves have also remained silent, issuing no public statements regarding the alleged attack. It is perhaps the case they don't want the population to panic, or else don't want to give acknowledgement of a successful land strike by Washington.

Speculation has persisted an effort to identify which facility was hit and what damage was done. Some analysts have highlighted a 'mystery' explosion at an industrial zone in San Francisco municipality, Zulia state, given the timing fits (Wednesday, Dec. 24).

San Francisco Venezuela's second largest city, in the northwest corner of the country, and near the coast. However, local reports also suggest the likelihood the fire was sparked by an electrical accident.

But it is also clear the CIA is active in Venezuela, given White House authorized lethal CIA missions targeting the Latin American country in October - though these may have been occurring long before then.

Venezuela’s Defense Minister Vladimir Padrino López:

‘We know that the CIA is present in Venezuela’ pic.twitter.com/mzZGs67Mvd

— Open Source Intel (@Osint613) October 23, 2025

The American president has also ordered a naval blockade targeting Venezuelan oil exports, with US forces already having seized two tankers transporting Venezuelan crude in international waters, while a third ship reportedly avoided boarding and continued into the Atlantic.

The Pentagon is seeking to enforce what has been described as a "quarantine" of Venezuelan oil over the coming months to further strain the country's economy. Amid all of this, there's a likelihood of yet more land strikes to come.

Tyler Durden Tue, 12/30/2025 - 09:35

Trump Says Netanyahu Pardon "On Its Way", Israeli President Says Otherwise

Authored by Travis Gilmore via The Epoch Times,

President Donald Trump said on Dec. 29 that Israeli President Isaac Herzog told him a pardon for Prime Minister Benjamin Netanyahu was “on its way.” That assertion, however, was disputed by Herzog’s office.

“He’s a wartime prime minister who’s a hero. How do you not give a pardon?” Trump, while standing alongside Netanyahu, told reporters ahead of a meeting at his Mar-a-Lago resort in Palm Beach, Florida.

“I spoke to the president ... he tells me it’s on its way.”

Trump suggested the fate of Israel would be far worse if Netanyahu had not been in charge during recent crises—including the Oct. 7, 2023, Hamas terrorist attacks.

“If you had the wrong prime minister right now, Israel would not exist,” Trump said.

“They were met with a force the likes of which very few countries could have handled.”

Herzog’s office, nevertheless, issued a statement that appeared to contradict Trump’s comments.

When asked about the U.S. president’s remarks, Herzog’s office said the Israeli president had not spoken with Trump since a pardon request was submitted several weeks ago.

“There has not been a conversation between President Herzog and President Trump since the pardon request was submitted,” the statement read.

“Several weeks ago, a conversation took place between President Herzog and a representative on behalf of President Trump, who inquired about the U.S. President’s letter. During that conversation, an explanation was provided regarding the stage of the process in which the request currently stands, and that any decision on the matter will be made in accordance with the established procedures.

“This was conveyed to President Trump’s representative, exactly as President Herzog stated publicly in Israel.”

Netanyahu is the first Israeli prime minister to be charged with a crime while in office. He denies the bribery, fraud, and breach-of-trust charges stemming from his 2019 indictment.

His own request for a pardon, submitted on Nov. 30, argued that frequent court hearings hamper his ability to govern and that clemency would be in the national interest. The appeal was lodged following the start of a U.S.-brokered cease-fire in Gaza.

Netanyahu’s appeal for clemency has been criticized by his opponents, who said that pardoning him mid-trial would be a breach of the rule of law, according to the Times of Israel.

As per Israeli law, the president has the authority to pardon convicts; however, there is no precedent for issuing a pardon while a trial is still ongoing.

Netanyahu’s quest for a pardon has been supported by Trump, who wrote a formal letter to Herzog in November urging him to grant clemency, calling the case against the Israeli prime minister “political, unjustified prosecution.”

During their Mar-a-Lago meeting on Dec. 29, Trump and Netanyahu discussed Gaza, Iran, Syria, and other matters.

“We had a big meeting with a lot of people, a lot of talent from Israel and from the U.S.,” Trump said after the meeting.

“And I think we came to a lot of conclusions. There’s very little difference in what we’re looking at, and where we want to be, where we want to go.”

Netanyahu expressed gratitude for a “very productive meeting.”

“I think we have a partnership ... second to none,” he said. “It’s allowed us to do tremendous things.”

Ahead of the meeting, Trump said they would begin the second phase of the peace plan in Gaza “as quickly as we can.”

“But there has to be a disarming of Hamas,” he noted.

Rebuilding the war-torn region is a priority, and sanitization efforts are underway, Trump said.

“It’s been a mess for a long time, but we’re going to straighten it out,” Trump said. “We’re helping the people of Gaza a lot, and so is Israel.”

Netanyahu thanked Trump for the opportunity to meet and for his continued support of Israel.

“We’ve never had a friend like President Trump in the White House. It’s not even close,” the prime minister said.

“I think it’s not merely Israel’s great fortune; it’s the world’s great fortune.”

After the meeting, Netanyahu said his nation would award its highest civilian honor, the Israel Prize, to Trump, who will be the first non-Israeli to receive the prize. The prize was announced formally on Monday by Israel’s minister of education.

Tyler Durden Tue, 12/30/2025 - 09:15

"Stark Reversal" From Pandemic: US Home Price Growth Slowest Since Q2 2023

Home prices in America's largest 20 cities surged 0.32% MoM in October (far higher than the +0.1% MoM move expected) but for context, this is the weakest annual home price growth since the March through July 2023 period, when the market was absorbing the initial shock of the Fed’s rapid rate hikes

Source: Bloomberg

“October’s data show the housing market settling into a much slower gear, with the National Composite Index up only about 1.4% year over year – among the weakest performances since mid-2023,” said Nicholas Godec, CFA, CAIA, CIPM, Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices.

"This broad stagnation suggests that elevated mortgage rates – still hovering around the mid-6% range in late October – are finally overwhelming the market’s earlier supply-driven resilience. Would-be buyers are facing the highest borrowing costs in decades, and that affordability squeeze has curbed demand enough to erode price momentum across most of the country."

But could be set to improve in the (lagged) months ahead...

Source: Bloomberg

Regional performance underscores a striking geographic rotation.

• Chicago now leads all major markets with a 5.8% annual price gain, followed by New York at 5.0% and Cleveland at 4.1%. These traditionally stable Midwestern and Northeastern metros have sustained solid growth even as broader conditions soften.

• By contrast, Tampa home prices are down 4.2% year over year – the steepest drop among the 20 cities, marking Tampa’s 12th consecutive month of annual declines. Other former highflyers in the Sun Belt are similarly struggling: Phoenix (-1.5%), Dallas (-1.5%), and Miami (-1.1%) all remain in negative territory.

As Godec notes, "it’s a stark reversal from the pandemic boom, as the markets that were once ‘pandemic darlings’ are now seeing the sharpest corrections while more traditional metros continue to post modest gains."

Tyler Durden Tue, 12/30/2025 - 09:08

Meta "Joining Forces" With China-Founded Manus AI In $2 Billion Deal

Mark Zuckerberg has been aggressively repositioning Meta Platforms' focus and spending toward artificial intelligence, particularly to achieve "personal superintelligence" that enhances existing apps like Facebook and Instagram and, of course, boosts revenue. Put simply, the pivot to AI looks like a far better venture than Zuckerberg's absolutely horrendous bet on the metaverse.

A new Wall Street Journal report on Tuesday said that Meta is buying an AI startup with Chinese founders that conducts deep research called Manus. The move is a familiar strategy: if you cannot beat the competition, buy it. Zuckerberg has repeatedly taken this approach this year, including aggressively poaching AI talent across Silicon Valley.

Manus is entering the next chapter: we’re joining forces with Meta to take general agents to the next level.

Full story on our blog: https://t.co/huPrnbITCi

— Manus (@ManusAI) December 29, 2025

People familiar with the Meta-Manus deal say the acquisition will cost upwards of $2 billion. At the same time, Manus was seeking a new round of fundraising at roughly that valuation when Meta approached with an offer.

In a statement to the Financial Times, Meta said it would "operate and sell the Manus service" while integrating its technology into its own products, such as the Meta AI chatbot.

Meta noted that Manus is one of the "leading autonomous general-purpose agents," with tools capable of performing tasks including market research, coding, and data analysis. Meta could ultimately offer this new AI agent service for as little as $20 per month.

The acquisition stands out as one of the most high-profile deals to date involving a U.S. tech giant purchasing an AI product built within Asia's AI and startup ecosystem. It highlights how AI innovation is no longer confined to Silicon Valley, but is emerging across parts of Asia. The deal also highlights a strategic shift by U.S. tech giants toward acquiring proven AI products and talent overseas, rather than relying solely on in-house development, as the race for AI agents and automation intensifies following China's DeepSeek debut earlier this year.

Manus raised $75 million in a Series B funding round led by U.S. venture firm Benchmark in April. Political scrutiny surrounding the VC firm's funding round with the China-linked startup later prompted Manus to relocate its headquarters to Singapore.

WSJ reported that Manus CEO Xiao Hong will soon report to Meta COO Javier Olivan. The startup employs about 100 staff, primarily in Singapore.

Using publicly available data from the supply chain analysis firm Sayari, Manus is owned by Singapore-registered Butterfly Effect Technology (Butterfly Effect Pte. Ltd.). The founders include Xiao Hong, often called "Red," as CEO and co-founder; Yichao "Peak" Ji as chief scientist and co-founder; and Zhang Tao as co-founder and product partner.

"In this AI wave, Chinese entrepreneurs building open-source large models or AI applications have been iterating the fastest and are highly competitive," Li Chengdong, founder of the Haitun internet think tank, told the FT. He added, "An incredible company and team are being sold to the United States. If China does not value talent and entrepreneurs and does not respect the basic rules of capital, it will ultimately be very hard for the country to win the China-US tech war."

Tyler Durden Tue, 12/30/2025 - 09:00