Feed aggregator

MAHA And GLP-1s Are About To Deal A Big Blow To The Processed-Foods Industrial Complex 

Zero Hedge -

MAHA And GLP-1s Are About To Deal A Big Blow To The Processed-Foods Industrial Complex 

The US processed-food industrial complex, partly controlled by globalist mega-corps, is beginning to reckon with a new reality: Make America Healthy Again and rising weight-loss drug use are reshaping what Americans eat - and what they're walking away from, mostly junk food loaded with toxic seed oils, as well as alcohol. 

In the coming weeks, Robert F. Kennedy Jr., President Donald Trump's Health and Human Services (HHS) Secretary, will be releasing new dietary guidelines to reset America's food supply chain away from toxic seed oils and highly processed foods toward real food. This is part of the MAHA trend. 

MAHA, combined with the expected surge in GLP-1 demand (thanks to Trump's deal with Novo Nordisk and Lilly to cut costs), is likely to wipe out tens of billions in food and beverage sales in the coming years. 

Bloomberg Intelligence analysts Jibril Lawal and Jennifer Bartashus forecast that the rapid adoption of GLP-1 weight-loss drugs will reduce US and European food and beverage sales by $53 billion by 2035.

Weight-loss drugs are reshaping consumption, and our analysis shows GLP-1s are set to erase $53 billion in food and beverage sales by 2035. Volume losses will be steepest in snacks, baked goods and confectionery -- a 4-6% sales drag in the US and 3-5% in Europe. Alcohol also faces a 2-4% drop as consumers shift to healthier options. -Lawal

Here are the key takeaways from the report that only suggest a coming food revolution across the West:

1. GLP-1s Could Cut Food, Beverage Sales by Billions

The adoption of GLP-1 drugs will significantly reduce US and European food and beverage consumption if uptake reaches 19.5% and 13.1% of the adolescent and adult population (ages 12-65+) by 2035, BI's high-end scenario analysis shows. Our model isolates volume impact only and excludes pricing increases or reformulations that might offset lower consumption. Under these assumptions, baked-goods sales are expected to drop by $11.5 billion and confectionery $8 billion -- the largest food declines -- while beer and spirits may fall by $12.5 billion and $9.2 billion, the steepest beverage contractions. Concurrently, we anticipate demand to shift toward healthier alternatives, with bottled water, fruits and vegetables each gaining more than $4 billion over the period. 

2. Food Losses Exceed $21 Billion in US and Europe

3. Sweet, Salty Sales to Drop $25 Billion on GLP-1s

Consumption of salty snacks and sweet treats, including confectionery, baked goods and cookies, looks set to significantly decline if GLP-1 use expands over the next decade, with our scenario analysis showing as much as a $25.1 billion decrease in total category sales by 2035 -- $13 billion in the US and $12.1 billion in Europe. In the US, confectionery intake is expected to drop 28% per GLP-1 user, followed by baked goods and biscuits (23.7% each), translating to a 4-6% category sales drag by 2035, based on our model. Europe could have even sharper reductions, with confectionery down 31% and baked goods and salty snacks off 28%, weighing on sales 3- 5%.

Companies most exposed, like PepsiCo, Mondelez, Hershey, General Mills and Conagra, may accelerate R&D investments to reformulate products and retain demand.

4. Beer and Spirits Face $29 Billion GLP-1 Hangover

Use of weight-loss drugs stand to deepen alcohol's demand slump in the US and Europe, as moderation and wellness trends gain ground. By 2035, consumption of beer and spirits is expected to drop 20.3% and 19.2% among GLP-1 users, and 22.5% and 23.2% in Europe, according to our analysis. Total losses could reach $28.5 billion, which translates to a 3-4% sales drag in the US and 2-3% in Europe. Major players at risk include Diageo (17.5% share of the $112 billion US spirits market, 16.7% of the $109 billion Western Europe market), AB InBev (31.9% of the $111 billion US beer market), and Heineken (18.3% of the $166 billion Western Europe beer market), based on Euromonitor data

5. Total Beverage Net Losses Could Reach $32 Billion

6. Beer and Spirits Face $29 Billion GLP-1 Hangover

7. Weight-Loss Drugs Trim Soft Drinks' Fizz

As the use of GLP-1s widens, demand for full-calorie sodas will likely erode. BI's model shows US consumption of regular (full calorie) soda will fall about 19.2% among these drug users and 17.2% in Europe a year between 2024-35, equating to a combined $4.7 billion sales hit -- about 3.3% in the US and 2.3% in Europe. The effect on low- or no-sugar drinks might be less pronounced at under 1% in both regions. Leading soft-drink makers such as Coca-Cola, with a 36% share of the $99 billion US soda market, and PepsiCo (20.5%) are most adversely affected. In Western Europe, Coca-Cola has a 48.6% share, while PepsiCo holds 12.9%, according to Euromonitor data. 

8. Fresh Produce Sales to Get $9 Billion GLP-1 Bump

Demand for fresh fruits and vegetables is rising, fueled in part by greater GLP-1 use, and food retailers can benefit as sales for produce are expected to climb to $9.3 billion across the US and Europe by 2035, according to BI's model. Each GLP-1 user is expected to consume about 11.6% more produce, driving a 1-3% sales boost, our analysis shows. Consumer trends emphasizing wellness and nutrition support this as health-focused baskets shift. Retailers such as Kroger, Albertsons, Sprouts, and Walmart are investing in fresh supply chains to enhance produce quality and extend shelf life, while an uptick in consumption of perishables could drive store visits and long-term loyalty.

MAHA and soaring GLP-1 adoption are pushing consumers away from ultra-processed junk food, seed-oil-laden snacks, and alcohol. The emergence of this trend has already been observed, read here and here. The shift is set to accelerate once RFK Jr. unveils new federal dietary guidelines aimed at steering the nation back to real, whole foods after mega corps hijacked the food supply with toxic processed foods and seed oils.

Tyler Durden Thu, 11/20/2025 - 19:40

Miller: Democrats Are A "Third World Party"; They Want "An Insurrection"

Zero Hedge -

Miller: Democrats Are A "Third World Party"; They Want "An Insurrection"

Authored by Steve Watson via Modernity.news,

Senior Trump advisor Stephen Miller has unleashed a blistering tirade during a Fox News interview, accusing Democrats of inciting “insurrection” by urging the CIA and Armed Forces to defy President Trump’s orders—demanding their resignation and labeling the party a “third world” entity obsessed with power through any means.

Miller slammed Democrat lawmakers for calling on spy agencies and troops to rebel, urging “These lawmakers should resign in disgrace and never return to public office again!” 

“Saying that you have the right and duty and obligation to defy orders of the Commander-in-Chief?!” Miller proclaimed, adding “It’s a general call for rebellion from the CIA and the Armed Services of the United States by Democrat lawmakers, saying…that those who carry weapons in America’s name should defy their chain of command and engage in open acts of insurrection?!” 

“That the CIA, the clandestine service, which isn’t even legally authorised to operate in the United States, should engage in, again, acts of rebellion and insurrection!” Miller reiterated.

“It is insurrection. Plainly, directly, without question!” He stressed.

Miller further highlighted the severity, stating “There is nothing graver that you could possibly say as a United States Senator than encouraging, URGING, DIRECTING members of the Armed Forces of the United States or the clandestine services of the United States, to defy their president, defy their chain of command, defy their superiors.” 

“To say such a thing would require you to have and to present to the nation some extraordinary scandal beyond even our wildest imagination, which of course they don’t have, because every single thing that this president has done has been not only lawful, but has been repairing and reversing the unlawful and unconstitutional behavior of the previous administration!” Miller declared.

Miller eviscerated the Democrat mindset, noting  “When we say that Democrats are communists, we don’t just mean that they believe in the state control of property. We mean they’ve adopted a method of thinking in which ANY use of force is justified for their state of power and control!”

“They don’t believe in systems, they don’t believe in rules, they don’t believe in laws. They believe in whatever keeps them in power,” he exclaimed.

“And if what they think keeps them in power is a military insurrection or a CIA insurrection, that’s what they support!” Miller continued, adding “If a Democrat complains about election integrity, that person’s a hero. If a Republican complains about election integrity, that person’s to be jailed and incarcerated for life.” 

“This is the moment that we’re in. This is what we’re dealing with! They have become a third world party and we have to internalize that. We’re not dealing with the old Democratic Party, we’re dealing with a third world party,” Trump’s advisor sternly outlined.

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 Thu, 11/20/2025 - 19:15

India's Reliance To Stop Processing Russian Oil At Giant Jamnagar Refinery

Zero Hedge -

India's Reliance To Stop Processing Russian Oil At Giant Jamnagar Refinery

India's Reliance Industries said it would stop processing Russian oil at part of its giant Jamnagar oil refinery as US sanctions force the company to shy away from dealings with Moscow, Bloomberg reported.  

The export-focused part of the refinery took its last shipment of Russian crude on Thursday, the company said in statement adding that some purchases bought before the US put sanctions on Russia’s two largest oil companies would discharge at another part of the facility.

Starting Friday, four of Russia’s top producers - accounting for as much as 80% of the country’s exports to India - are under sanction, leaving counterparties at risk of secondary sanctions. 

Reliance’s plant at Jamnagar can process more than 1.4 million barrels a day of crude and in turn supply products to both the domestic market and overseas. 

Jamnagar refinery at night

In a sign that Trump's sanctions on Russian oil may finally be working by alienting its largest clients, a Bloomberg source said that Reliance isn’t currently buying Russian oil and hasn’t taken a view yet on whether it will resume doing so.

Last month, the Trump admin announced sanctions on Russian oil giants, Lukoil and Rosneft, meaning a swath of Russia’s flows are pumped by blacklisted firms. This week Intercontinental Exchange Inc. said that it would not allow diesel from refineries served by ports that receive Russian crude to be used in the settlement process for January ICE gasoil futures contracts.

As Bloomberg notes, a deadline to wind down deals with the two firms is set to pass on Friday, putting pressure on the companies and countries that had continued to buy barrels from Moscow. And while Indian refiners have been booking ships for alternative cargoes over recent weeks, sending tanker rates soaring, the impact on oil prices of the sanctions has been relatively muted, suggesting there’s little panic in the market.

Separately, Bloomberg reports that at least 7.7 million barrels of Russia’s flagship Urals crude loaded on 11 tankers (full list below), linked to the two sanctioned producers are set to reach India’s shores after the US restrictions take effect today, according to data from Kpler. That raises questions on whether the crude will be able to discharge smoothly, given the deadline.

Most of the tankers are heading either to the Jamnagar refinery or to Rosneft-linked Nayara Energy’s Vadinar port. Delivery dates range from the end of November and into December.  Should the ships fail to arrive by Nov. 21, they could idle off India’s shores while they consider their next moves, which can include ship-to-ship transfers to other tankers and diversions to new destinations such as the waters off Malaysia or even further to China.

It remains unclear if other Indian companies have sought any exemptions from the US to continue buying some crude parcels from Rosneft or Lukoil after the Friday deadline. Earlier in November, Hungary won an exemption on procurement of Russian oil and gas and the US has also extended a waiver for some Lukoil transactions.

Tyler Durden Thu, 11/20/2025 - 18:50

RFK Jr. Says Government Going To Figure Out What's Causing Food Allergies

Zero Hedge -

RFK Jr. Says Government Going To Figure Out What's Causing Food Allergies

Authored by Zachary Stieber via The Epoch Times,

Government agencies are going to pinpoint causes of food allergies, Health Secretary Robert F. Kennedy Jr. said on Nov. 17 at an event held by an organization that funds and promotes research aimed at preventing and treating food allergies.

Kennedy said that while there have been lots of animal studies on food allergies, there has been a dearth of human studies, including research that looks at whether allergies are caused by aluminum-containing vaccines.

“It’s pretty easy to figure this out, and we will figure it out,” Kennedy said at the Washington event held by the Food Allergy Fund.

A number of vaccines contain aluminum salts as adjuvants, or ingredients that help trigger a stronger immune response.

The Centers for Disease Control and Prevention says on its website that aluminum salts “have been used safely in vaccines for more than 70 years,” although it notes that a study from CDC researchers and other scientists in 2022 found a possible link between exposure to aluminum from vaccines and the development of asthma.

A study based on surveys from mothers of homeschooled children, published in 2017, found that vaccinated children were more likely to have allergies than unvaccinated children.

President Donald Trump said in September that the government was removing aluminum from vaccines. No official steps have been taken, but the panel that advises the CDC on vaccines recently said it would analyze the safety of vaccine ingredients such as aluminum, and plans to discuss in a December meeting “adjuvants and contaminants.”

Some experts believe the rise in allergies to peanuts and other substances over the years stems from avoidance of those substances. The American Academy of Pediatrics in 2000 said parents should not expose children to peanuts until they turn 3 years old. Peanut allergies have dropped since those recommendations were reversed, a recent study found.

Kennedy said he does not think the spike in food allergies is due to avoidance, citing that his own home was filled with peanut products, yet five of his children still developed allergies, and that countries where peanut butter was introduced did not see large increases in peanut allergies.

He said that aluminum is one possible cause, but there are others, including pesticides. He questioned why scientists, both within and outside the government, have not been working to rule out possible causes.

“You make a list of all the potential culprits that fit those criteria, and then you begin eliminating them. But those studies have never been done. We are going to do them now, and we will identify what is causing these allergies,” he said.

Dr. Jeffery Taubenberger, acting director of the National Institute of Allergy and Infectious Diseases, said later it was a trial funded by the institute that discovered early peanut exposure could prevent peanut allergies.

“What we need to do now and to go forward is to think about more research on prevention, and that is the back to this key of how do we shape the developing immune system early in life so that it doesn’t have these kind[s] of allergic responses but has more of a tolerant response,” Taubenberger said.

Some of the factors could include changes in the microbiome, he said.

National Institutes of Health Director Dr. Jay Bhattacharya, Taubenberger’s superior, asked Taubenberger how the government could study the hypothesis that aluminum exposure contributes to the development of allergies.

“This would require clinical trials, prospective clinical trials—well-designed—and they would have to be long-term,” he said. “It would be expensive, but these are things that should be discussed.”

Tyler Durden Thu, 11/20/2025 - 18:25

Louisiana Has The 2nd Highest Incarceration Rate In The World...

Zero Hedge -

Louisiana Has The 2nd Highest Incarceration Rate In The World...

Millions of prisoners are detained in America, but incarceration rates vary widely by state.

Overall, detaining inmates costs an estimated $182 billion each year across 1,566 state prisons, 3,116 local prisons, and 98 federal facilities.

Despite being the world’s largest economy, America has the fourth-highest incarceration rate globally.

This graphic, via Visual Capitalist's Dorothy Neufeld, shows prisoners per 100,000 people by state, based on data from the Prison Policy Initiative.

Incarceration Rates Are Highest in the South

Below, we rank states by incarceration rates, using 2021 state-level data applied to the 2024 national prison population:

With 1,067 prisoners per 100,000 people Louisiana has a staggeringly high rate of people behind bars.

Not only is this nearly double the national average, it is more than 12 times higher than in Canada.

Despite being the “incarceration capital of the world”, it has the second-highest murder rate in the country, after Mississippi.

Making matters worse, several prisoners, including juveniles, face life sentences in Louisiana without the chance of parole.

As we can see, Southern states make up eight of the 10 highest incarceration rates, disproportionately impacting people of color. Over the past 25 years, penalties for non-violent offenses have also become increasingly severe, with detainees serving longer sentences.

By contrast, Massachusetts, Vermont, and Rhode Island have the lowest rates in the nation—however, they remain higher than most countries.

To learn more about this topic, check out this graphic on the cost per prisoner by U.S. state.

Tyler Durden Thu, 11/20/2025 - 18:00

Florida Dem. Rep. Indicted On $5 Million FEMA Money-Laundering Scheme, Faces Up To 53 Years In Prison

Zero Hedge -

Florida Dem. Rep. Indicted On $5 Million FEMA Money-Laundering Scheme, Faces Up To 53 Years In Prison

Authored by Debra Heine via American Greatness,

Rep. Sheila Cherfilus-McCormick (D-Fla.) is facing suspension from Congress and up to 53 years in prison after being indicted on federal charges for stealing $5 million in FEMA disaster relief funds.

The funds were allegedly overpayments to Trinity Health Care Services, a family-run company she previously led, which had a state contract for COVID-19 testing and vaccinations.

McCormick allegedly laundered the proceeds to support her 2021 congressional campaign.

Prosecutors claim she and her brother, Edwin Cherfilus, conspired to funnel the money through multiple accounts and used it for campaign contributions and personal benefit.

She faces additional charges along with her tax preparer for allegedly filing a false federal tax return by inflating deductions and charitable contributions.
If convicted, she could face up to 53 years in prison.

“Using disaster relief funds for self-enrichment is a particularly selfish, cynical crime,” Attorney General Pam Bondi said in a statement.

“No one is above the law, least of all powerful people who rob taxpayers for personal gain. We will follow the facts in this case and deliver justice.”

Republican Rep. Greg Steube, a fellow Floridian, stated Thursday that he will file a resolution to expel McCormick later today. In response to her indictment Wednesday night, Steube had initially indicated he would be moving to censure her.

“On second thought, I have decided to skip censure and move straight to expulsion,” the Republican posted on X, Thursday morning.

“Defrauding the federal government and disaster victims of $5 million is an automatic disqualifier from serving in elected office,” he added.

"Cherfilus-McCormick needs to be swiftly removed from the House before she can inflict any more harm on Congress, her district, and the State of Florida.

I’ll be filing the resolution today. If she refuses to resign and save Congress the embarrassment of having to expel her, I will bring this resolution to the floor for a vote."

Cherfilus-McCormick, who has been under House Ethics Committee investigation since 2023, denies the charges, calling the indictment “unjust” and “baseless,” and has pledged to fight the allegations in court.

Cherfilus-McCormick is the third Democrat member of Congress to be under current federal indictment.

Rep. Henry Cuellar (D-Texas) and his wife, Imelda Cuellar, were indicted in May 2024 on federal charges including bribery, money laundering, conspiracy, and acting as agents of foreign principals.

The charges stem from allegations that between December 2014 and November 2021, the couple accepted approximately $600,000 in bribes from an oil and gas company controlled by the government of Azerbaijan and a bank headquartered in Mexico City.

These payments were allegedly funneled through sham consulting contracts to shell companies owned by Imelda Cuellar, who performed little to no legitimate work.

The indictment includes multiple counts such as conspiracy to commit bribery, honest services wire fraud, violations of the Foreign Agents Registration Act (FARA), and money laundering, with potential penalties totaling up to 204 years in prison if convicted.

Cuellar, who denies any wrongdoing, continues to serve in Congress and is running for re-election.

LaMonica McIver (N.J.) was indicted in June for allegedly interfering with federal officers during a scuffle outside an immigration detention facility in Newark on May 9.

An online video shows McIver,  a member of the House Homeland Security Committee, screaming at law enforcement officers as they tried to break through their blockade,  throwing punches and shoving the officers as they tried to regain control.

US Attorney Alina Habba announced on X that a Newark federal grand jury had returned a three-count indictment charging McIver with “forcibly impeding and interfering with federal law enforcement officers.”

A federal judge last week dismissed McIver’s bid to have the federal charges dismissed, rejecting her claims that she was conducting congressional oversight and is just the victim of selective prosecution.

“Defendant has not met her burden of establishing that her predominant purpose in physically opposing the Mayor’s arrest was to conduct oversight or gather information for a legislative purpose. No genuine legislative purpose was advanced by Defendant’s alleged conduct,” U.S. District Court Judge Jamel K. Semper wrote.

The N.J Democrat faces up to 17 years in prison for her aggressive conduct.

Tyler Durden Thu, 11/20/2025 - 17:40

New NTSB Images Show Moment UPS Air Freighter's Engine Ripped Off On Takeoff

Zero Hedge -

New NTSB Images Show Moment UPS Air Freighter's Engine Ripped Off On Takeoff

Investigators with the National Transportation Safety Board have released frame-by-frame images showing the left engine of the UPS McDonnell Douglas MD-11F freighter separating from the aircraft during a straight-out departure earlier this month in Louisville, leading to a horrific crash.

NTSB's preliminary report showed the left engine (No. 1) and entire pylon assembly tore away from the wing immediately after rotation, igniting into a massive fireball.

With the wing on fire, the air freighter managed only about 30 feet AGL before losing lift. It cleared the blast fence on Runway 17 Right at Louisville Muhammad Ali International Airport but struck the roof of a UPS warehouse with its left main gear, then crashed into a nearby industrial park.

In total, three pilots died and 11 people on the ground. Twenty-three others on the ground were injured.

UPS has since grounded all MD-11 air freighters operating in its fleet. The Federal Aviation Administration issued emergency directives grounding all MD-11/MD-11F and later DC-10 series aircraft pending inspection due to a similar wing design.

The NTSB pointed back to a similar crash in 1979 when American Airlines Flight 191, a DC-10, experienced a catastrophic engine-pylon separation on takeoff.

*  *  * GRAB A MULTITOOL! (Christmas is right around the corner... maybe get a few for the volume discount)

Tyler Durden Thu, 11/20/2025 - 15:05

Hotels: Occupancy Rate Decreased 4.1% Year-over-year

Calculated Risk -

Hotel occupancy was weak over the summer months, due to less international tourism.  The fall months are mostly domestic travel and occupancy is still under pressure! 

From STR: U.S. hotel results for week ending 15 November
The U.S. hotel industry reported negative year-over-year comparisons, according to CoStar’s latest data through 15 November. ...

9-15 November 2025 (percentage change from comparable week in 2024):

• Occupancy: 60.9% (-4.1%)
• Average daily rate (ADR): US$154.41 (-0.5%)
• Revenue per available room (RevPAR): US$93.97 (-4.6%)

The Veteran’s Day calendar shift drove a double-digit decline in group demand, resulting in lower performance levels across the U.S.
emphasis added
The following graph shows the seasonal pattern for the hotel occupancy rate using the four-week average.
Hotel Occupancy RateClick on graph for larger image.

The red line is for 2025, blue is the median, and dashed light blue is for 2024.  Dashed black is for 2018, the record year for hotel occupancy. 
The 4-week average of the occupancy rate is tracking behind last year and close to the median rate for the period 2000 through 2024 (Blue).
Note: Y-axis doesn't start at zero to better show the seasonal change.
The 4-week average will decrease seasonally until early next year.
On a year-to-date basis, the only worse years for occupancy over the last 25 years were pandemic or recession years.

$1.2 Billion Suspicious Epstein Transactions? Wyden Demands Investigation After JP Morgan Failed To Report For Years

Zero Hedge -

$1.2 Billion Suspicious Epstein Transactions? Wyden Demands Investigation After JP Morgan Failed To Report For Years

Now that we're making progress on Epstein - after President Trump and Mike Johnson were forced to cave under overwhelming pressure for DOJ disclosure - a logical next step is to look into who was funding the notorious sex-trafficker. 

Jeffrey Epstein, former Barclays / JP Morgan exec Jes Staley

On Thursday morning, Sen. Ron Wyden (D-OR) called for an investigation into whether JPMorgan Chase deliberately concealed suspicious transactions by Epstein. 

You really just need to look at Exhibit A in Wyden's memo (dated Wednesday) based on unsealed court records: the number of transactions flagged as suspicious between 2002 - 2016, vs. a flurry of almost $1.3 billion in suspicious transactions that the bank scrambled to file right after Epstein died in jail awaiting trial. 

Wyden writes: 

The unsealed court records include copies of SARs that JPMC filed on Epstein’s accounts between 2002 and 2019. Between 2002 and 2016, JPMC filed 7 SARs flagging only $4.3 million in suspicious transactions from Epstein’s accounts.¹ Only after Epstein was arrested on federal sex trafficking charges did JPMC report the full extent of Epstein’s suspicious financial activity. In August and September of 2019, JPMC filed two SARs flagging more than 5,000 suspicious wire transfers moving approximately $1.3 billion in and out of Epstein’s accounts.² This is the strongest evidence yet that JPMC should face an investigation for failure to appropriately monitor and report Epstein’s financial activity.

According to internal bank emails, JPMorgan may have held off on filing the SARs (suspicious activity reports) because it wanted "to continue working with Epstein," who was a great source of referrals despite firing him as a client in 2013, the report found.

The bank said in late October that "it was flagging about 4,700 transactions, totaling more than $1 billion, because they were potentially related to reports of human trafficking involving Mr. Epstein. It also mentioned Mr. Epstein’s wire transfers to Russian banks and sensitivities around “his relationships with two U.S. presidents.” Mr. Epstein at times was close with President Trump and former President Bill Clinton," according to the NYT.

Wyden said in a statement that it was "clear that JPMorgan Chase ought to face criminal investigation for the way it enabled Epstein’s horrific crimes," and that both Congress and the DOJ should investigate the bank - which has repeatedly issued statements of regret for working with Epstein, and claims it did all it could with the information it had at the time.

"The second the government finally made public the sex trafficking details in 2019 — information they clearly had for years — we identified for law enforcement a range of Epstein’s past transactions intended to assist with the investigation," said bank spokeswoman Patricia Wexler on Thursday. 

Will Wyden actually follow the money?

Related:

The Overlooked Shell Company Operated By Epstein's Accomplices

Epstein's Inbox Lays Out Gift Networks, PR Tactics, And Strange Habits

Revelation Of Epstein Investment Tied To Peter Thiel Adds To Growing Concerns About Palantir

Victoria's Secret Boss Wexner Swears He Didn't Know About Epstein Penchant For Pedophilia

Tyler Durden Thu, 11/20/2025 - 14:25

Availability and Use of Aircraft in the Coast Guard

CBO -

In analyzing the availability and use of aircraft by the U.S. Coast Guard from 2006 to 2024, CBO found that total flying hours have decreased, especially for H-65 helicopters.

Categories -

5 Plead Guilty In First Antifa Terrorism Case Relating To Texas Detention Center Attack

Zero Hedge -

5 Plead Guilty In First Antifa Terrorism Case Relating To Texas Detention Center Attack

Authored by Kimberley Hayek via The Epoch Times,

Five people pleaded guilty on Nov. 19 to terrorism-related charges after facing accusations of supporting Antifa in a July shooting that wounded a police officer outside a Texas immigration detention center.

The Justice Department prosecution followed President Donald Trump’s executive order designating Antifa as a domestic terrorist organization. Antifa, short for “anti-fascists,” is a militant group that functioned as the violent arm of the communist party in Germany, giving the modern Antifa movement its nickname and symbols that are still in use today.

FBI Director Kash Patel described the Texas charges as the first time that material support to terrorism has been applied to Antifa. The incident took place on July 4 outside the Prairieland Detention Center near Dallas. Prosecutors allege a “North Texas antifa cell” attacked the facility with gunfire and fireworks.

Nathan Baumann, 20; Joy Gibson, 30; Seth Sikes, 22; Lynette Sharp, 57; and John Thomas, 32, each entered guilty pleas to one count of providing material support to terrorists during a hearing in federal court in Fort Worth. They each face up to 15 years in prison.

Erin Kelley, an attorney for Sharp, told The Associated Press the plea was just one “step one in a long process” before the final sentence is determined.

Attorneys for the other defendants couldn’t be reached.

Proceedings against other suspects involved in the shooting remain ongoing. A federal grand jury recently indicted nine additional individuals on charges such as rioting, using explosives, obstruction, and the attempted murder of federal officers.

Those indicted are Cameron Arnold (also known as Autumn Hill), Zachary Evetts, Benjamin Song, Savanna Batten, Bradford Morris (also known as Meagan Morris), Maricela Rueda, Elizabeth Soto, Ines Soto, and Daniel Rolando Sanchez-Estrada. Their arraignments are scheduled for next month.

Court documents lay out a tumultuous scene at the detention center, a facility used by U.S. Immigration and Customs Enforcement (ICE) to hold individuals awaiting deportation.

Prosecutors allege group members clad in “black bloc” attire—dark clothing and face coverings—arrived late at night. They allegedly vandalized vehicles, a guard shack, and a security camera, as well as launched fireworks at the building.

As an Alvarado Police Department officer responded to a 911 call from correctional staff, one suspect reportedly yelled “get to the rifles” ahead of opening fire, striking the officer in the neck area. The wounded officer fell but shot back. Additional rounds were then shot at the injured officer and an unarmed Department of Homeland Security (DHS) correctional officer, who was seeking cover.

Gibson, Baumann, and Sikes were arrested in the near vicinity shortly after the attack. Sharp and Thomas are accused of assisting the main shooter evade capture until July 15.

The group allegedly acquired over 50 firearms in the Dallas-Fort Worth area ahead of the incident and used encrypted messaging apps with auto-delete features to coordinate the operation, including reconnaissance and discussions on supplies, such as medical kits and explosives.

The indictment alleged that Song was a group leader who distributed weapons and recruited members at gun ranges, combat training sessions, and from ideologically similar groups. Some defendants, such as the Sotos and Batten, are allegedly tied to producing “zines”—insurrectionary pamphlets promoting anti-government and anti-ICE ideas.

Defense attorney Patrick McLain, representing Evetts, stated there is “no evidence that such an organization [as a North Texas antifa cell] ever existed” and that his client is not affiliated with any such group.

Acting U.S. Attorney Nancy E. Larson praised the investigation involving the FBI, ICE, ATF, Texas Department of Public Safety, Alvarado Police, and Johnson County Sheriff’s Office.

“This is the first indictment in the country against a group of violent antifa cell members,” she said in a statement, reaffirming a commitment to safeguarding federal facilities from “organized domestic terrorist cells.”

If convicted on the more severe charges, some defendants face life imprisonment. Others could receive sentences up to 50 years.

Tyler Durden Thu, 11/20/2025 - 14:00

BitMine Sits On $3.7B Loss As DAT 'Hotel California' Meets BlackRock's Staked ETH ETF

Zero Hedge -

BitMine Sits On $3.7B Loss As DAT 'Hotel California' Meets BlackRock's Staked ETH ETF

Authored by Zoltan Vardai via CoinTelegraph.com,

Concerns are mounting over the sustainability of corporate crypto-treasury firms as BlackRock moves forward with a staked Ether fund that analysts say could compete directly with existing digital-asset treasuries.

BitMine Immersion Technologies, the world’s largest corporate Ether holder, is currently down $1,000 per purchased ETH, implying a cumulative unrealized loss of $3.7 billion on its total holdings, according to a Thursday research report from crypto insights company 10x Research.

The decline in net asset value (NAV) across these firms is making it difficult to attract new retail investors while leaving many existing shareholders effectively “trapped” unless they sell at a steep loss, 10x Research founder Markus Thielen wrote in a LinkedIn post.

“When the premium inevitably shrinks to zero, as it is doing now, investors find themselves trapped in the structure, unable to get out without significant damage, a true Hotel California scenario,” he said.

He added that, unlike exchange-traded funds (ETFs), digital-asset treasury companies, or DATs, “layer on complex, opaque, and often hedge-fund-like fee structures that can quietly erode returns.”

BitMine, Ethereum, right-hand side (RHS) price. Source: 10X Research

The mNAV ratio compares a company’s enterprise value to the value of its crypto holdings. An mNAV above 1 allows a company to raise funds by issuing new shares to accumulate digital assets. Values below 1 make it much harder to expand capital and holdings.

BitMine’s basic mNAV stood at 0.77 while its diluted mNAV stood at 0.92, according to data from Bitminetracker.

BitMine overview, holdings, share metrics. Bitminetracker.io

BitMine holds about 3.56 million ETH valued at roughly $10.7 billion, representing 2.94% of the total Ether supply. The firm’s average cost basis is $4,051 per ETH.

Other DATs also suffered a sharp decrease in their mNAVs, including Strategy, Bitmine, Metaplanet, Sharplink Gaming, Upexi and DeFi Development Corp.

BlackRock steps in with lower-cost competition

BlackRock has registered a new staked Ether ETF offering in Delaware, marking the first step for the $13.5 trillion asset management giant’s diversification into Ethereum-based products, Cointelegraph reported earlier on Thursday.

Source: Eric Balchunas

BlackRock’s proposed Ether staking ETF could offer another low-cost, yield-generating fund, without the hidden costs associated with traditional treasury firms.

This development may threaten the economics of DATs, according to 10x Research.

“With BlackRock now seeking approval to stake ETH in its ETF, offering a low-cost source of yield, the economics of DATs are likely to face increasing scrutiny,” the research report states.

More investors may start reallocating toward a potential staked Ether fund from BlackRock when they realize that the 0.25% management fee is far smaller compared to the embedded costs of DATs, according to 10X.

Asset managers REX-Osprey and Grayscale have already launched staked ETH ETF products in September and October.

Tyler Durden Thu, 11/20/2025 - 13:20

Jasmine Crockett Shares List Of Republicans Who Took Money From Epstein - Only Problem - It Was A Different Epstein!

Zero Hedge -

Jasmine Crockett Shares List Of Republicans Who Took Money From Epstein - Only Problem - It Was A Different Epstein!

Authored by Debra Heine via American Greatness,

Rep. Jasmine Crockett (D-Texas) has publicly beclowned herself for the second time in a week by falsely accusing several Republican politicians of taking money from “somebody named Jeffrey Epstein.”

“Folks who also took money from somebody named Jeffrey Epstein, as I had my team dig in very quickly—Mitt Romney, the NRCC, Lee Zeldin, George Bush, McCain-Palin,” Crocket declared on the House floor on Tuesday.

Federal campaign finance records show that Epstein donated primarily to Democrats, including two current sitting members of Congress, Delegate Stacy Plaskett (D-V.I) and Senator Chuck Schumer (D-N.Y.), both of whom have retained the donations, despite scrutiny.

Even worse, newly released documents from Epstein’s estate include text messages between Plaskett and Epstein that show he advised her on what questions to ask President Trump’s former attorney Michael Cohen during a 2019 congressional hearing.

The Republican-led House Oversight Committee also recently released documents revealing that a fundraising firm representing Minority Leader Hakeem Jeffries ( D-N.Y.) solicited donations from Epstein in 2013, shortly after Jeffries’ first election to the House and well after Epstein’s 2008 conviction for soliciting prostitution from a minor.

“I just want to be clear, if this is the standard that we gonna make, just know we’re gonna expose it all. And know that the FEC filings, they are available for everyone to review,” Crockett said, hoping to deflect from these Democrat embarrassments.

Public records however indicate that most of the donations highlighted by Crockett came from an entirely different person, a Republican physician named Jeffrey Epstein.

Zeldin, currently Trump’s Environmental Protection Agency (EPA) Administrator, blasted the congresswoman on X: “Yes Crockett, a physician named Dr. Jeffrey Epstein (who is a totally different person than the other Jeffrey Epstein) donated to a prior campaign of mine. NO FREAKIN RELATION YOU GENIUS!!!”

Records also showed that Dr. Epstein made two $250 donations to former Republican Utah Sen. Mitt Romney during his presidential run in 2012,” the Daily Caller reported.

All of the donations mentioned by Crockett reportedly came from other people named Jeffrey Epstein, and came in some cases, came after the convicted sex trafficker had died.

The emails released by the House Oversight Committee on Wednesday show Rep. Hakeem Jeffries’ campaign soliciting money from Epstein in 2013 and inviting him to a Democrat fundraising dinner with then-President Barack Obama.

The fundraising firm Dynamic SRG refers to Jeffries in the email as “Brooklyn’s Barack” and a “progressive voice,” and encourages him to “get involved with the dinner” or “get an opportunity to get to know Hakeem better.”

Jeffries stated he has “no recollection” of the outreach and emphasized he “certainly” never met Epstein or accepted any money from him.

Plaskett, meanwhile, has dismissed accusations that she colluded with the sex offender in an effort to get Trump.

“I believe that Jeffrey Epstein had information and I was going to get information to get at the truth,” she said during an interview on CNN, Wednesday.

“There are a lot of people who have done a lot of crimes and as a prosecutor, you get information from people where you can.”

Republicans in the House on Tuesday attempted to censure Plaskett and remove her from the House Intelligence Committee, but failed in a 209-214 vote, with three Republicans joining Democrats in opposition, allegedly to protect Rep. Cory Mills (R-Fla.) from being censured himself, and referred to the House Ethics Committee for investigation.

Crockett, last week, was brutally called out by CNN when she tried to claim that Republicans had redacted a name in an email released by Democrats to smear Trump.

When the CNN host pointed out that Democrats had redacted the exonerating information, Crockett immediately flipflopped, claiming that Democrats redacted the name because their “biggest concern” was to “actually make sure” they were “protecting victims.”

Tyler Durden Thu, 11/20/2025 - 12:40

Zelensky 'Agrees' To Engage On US Plan To End War, Features Territorial Concessions

Zero Hedge -

Zelensky 'Agrees' To Engage On US Plan To End War, Features Territorial Concessions

At this point Axios, the Financial Times, the NY Times, and Ukrainian regional media have all said that the new peace plan being 'secretly' pushed by the Trump administration contains significant territorial concessions. Additionally, there are reportedly stipulations that would see Ukraine scale back its armed forces, stop receiving some Western weapons, and stops hosting all foreign troops.

A source has also told RBC-Ukraine that a key provision is that the Ukrainian government commits to a formal refusal for future NATO membership. The same report said things are taken further, as Russian officials and troops would receive amnesty for all wartime crimes.

Via Reuters

Additionally, international and US-led sanctions would reportedly be lifted on Moscow, paving the way for Russia's return to the global economy.

The US-proposed 28-point peace plan would cede control of the eastern Donbas to Russia, but other partially controlled territories like Zaporizhzhia and Kherson regions would see concessions made by Russia.

As we featured previously, Kremlin officials have finally said their position is being 'heard' - especially given this is the first time Washington appears to be getting serious about pushing territorial concessions. 

The plan appears to have been primarily drafted by President Donald Trump's envoy Steve Witkoff and Russian special envoy Kirill Dmitriev - but so far the Zelensky government has expressed dismay that it is being cut out of the process.

US Secretary of State Marco Rubio has since written on X that achieving a "durable peace will require both sides to agree to difficult but necessary concessions."

He acknowledged current talks are all about consulting both sides in order to "develop a list of potential ideas for ending this war."

On Thursday US Army and top Pentagon representatives are in the Ukrainian capital in an effort to pressure the Zelensky government into engaging in talks on the US-Moscow peace plan:

Senior Pentagon officials have arrived in Ukraine to "discuss efforts to end the war" with Russia, the US military has said.

The team, led by US Army Secretary Dan Driscoll, held talks with Ukrainian Prime Minister Yulia Svyrydenko on Thursday morning. They are expected to meet Ukrainian President Volodymyr Zelensky later in the day.

But it remains that Zelensky has throughout the war consistently rejected any proposal which features territorial concessions. He is supported especially be Ukrainian hardliners, both in the military and in parliament. 

However, fresh news headlines say Zelensky has expressed 'openness' to working with this framework:

  • ZELENSKIY: UKRAINE IS READY TO WORK WITH US, EUROPE FOR PEACE
  • ZELENSKIY SAYS HE AGREED TO WORK ON US DRAFT PLAN TO END WAR
  • OIL TURNS NEGATIVE AS ZELENSKIY SIGNALS OPENNESS TO PEACE TALKS

But already (and somewhat predictably) European hawks are chiming in negatively, urging Kiev against any 'compromise' with Moscow. "EU foreign policy chief Kaja Kallas warned that for any plan to work, it would need to have Ukrainians and their European allies on board," BBC writes.

French Foreign Minister Jean-Noël Barrot has seconded this viewpoint, saying "the Ukrainians do not want any form of capitulation."

Tyler Durden Thu, 11/20/2025 - 12:20

Watch: Sam Harris Blames Trump 'Cult' For Kirk Assassination

Zero Hedge -

Watch: Sam Harris Blames Trump 'Cult' For Kirk Assassination

Authored by Steve Watson via Modernity.news,

Atheist philosopher Sam Harris, known for his anti-religion books like “The End of Faith” and his “Making Sense” podcast, has absurdly pinned Charlie Kirk’s assassination on President Trump and his “cult” of followers.

During the rant on the Trigger Nometry podcast, Harris conveniently absolved radicalized leftists brainwashed by years of Democrat and media vitriol calling conservatives “Nazis” and “threats to democracy.”

Asked about Charlie Kirk’s murder, Harris responded, “I would put most of the onus, as will not surprise you, on the president and his cult.” 

He claimed that there’s “no party left of center” supporting the assassination, instead blaming Tucker Carlson, Elon Musk, and Alex Jones for ‘fueling the fire.’ 

This twisted logic ignores how Dems and their mouthpieces spent years radicalizing lunatics with “Trump is Hitler” smears—directly egging on violence while now playing innocent.

Recall how in 2022, Harris admitted to not caring about the Hunter Biden laptop scandal, stating it “absolutely should have been covered up” to stop Trump.

“At that point, Hunter Biden literally could have had the corpses of children in his basement—I would not have cared,” Harris sickeningly suggested.

He justified suppression, noting “Whatever the scope of Joe’s corruption is… it is infinitesimal compared to the corruption we know Trump is involved in.” 

This reveals Harris’ ends-justify-means mindset, excusing lies and censorship for political gain—now extending to blaming Trump for left-driven violence.

Harris’ victim-blaming seeks to exonerate the radical left he helped inflame, proving elite intellectuals like him prioritize anti-Trump narratives over truth.

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 Thu, 11/20/2025 - 12:00

Stocks & Crypto Slammed As NVDA Erases Post-Earnings Gains

Zero Hedge -

Stocks & Crypto Slammed As NVDA Erases Post-Earnings Gains

Who could have seen that coming?

Sure enough - as has been the pattern - NVDA's overnight gains have been erased...

That has dragged all the majors back to day-session lows, with Nasdaq now unchanged (from up 2.4% at the highs)...

The plunge was exacerbated by all the majors breaking below key technical support...

Bitcoin is puking...

And it appears crypto was leading the majors lower...

As we detailed earlier with regard to whether the rally would stick, Goldman's Rich Privorotsky lays out the tactical bull and bear case:

  • The dream today is NVDA up 10%…GOOG powering on…useful-life comments killing the worst fears around CoreWeave and the debt-fueled AI buildout…sentiment snapping back as crypto, retail and systematic flows all rip and we grind back to the highs. Cherry on top would be a 20k-type NFP that puts cut pricing back near 75%. 

  • Worst case is NVDA pops at the open then slides as forward constraints cap the 2nd derivative of growth…crypto pukes, CTAs are still sellers, NFP is hot, and Dec drops to 25% while credit refuses to tighten to match the equity rally and remains the lead indicator. 

It appears the 'worst case' is looming as rate-cut odds are fading lower again now too...

Tomorrow brings the largest November OpEx in history - which will likely not help.

Tyler Durden Thu, 11/20/2025 - 11:44

Native-Born Workers Rise By 2 Million Under Trump To A New Record High, As Foreign-Born Plunge By 1.6 Million

Zero Hedge -

Native-Born Workers Rise By 2 Million Under Trump To A New Record High, As Foreign-Born Plunge By 1.6 Million

One can debate how effective Trump has been in following up on his various campaign promises, but one place where he has been steadfast is reversing the Biden admin's disastrous labor policies which favored foreign-born workers (mostly illegal aliens) over native-born workers.

Today's jobs report, which had something for everyone, including forecast-busting payrolls offset by the highest unemployment rate in 4 years at 4.4% (driven by another jump in black unemployment), was indisputably strong when it comes to one thing: the rotation from foreign born workers to domestic ones. 

To wit: in September, the number of native-born workers surged by 676K (after the August drop of 561K), while foreign-born workers dropped by 70K.

Now since the month-to-month changes are largely driven by seasonal factors, they don't convey the full picture. What does, is a longer-term study such as the one below, which shows that since Trump entered the White House and his policies started impacting the economy, the number of foreign born workers has slumped from a record 33.7 million in March 2025 to 32.1 million, a drop of $1.6 million. This has been offset by a slow but consistent increase in native-born workers which had been unchanged for six years since 2019 until the start of 2025, at which point it started to rise again, and has increased from 131.2 million in March 2025 to a new record high of 133.2 million in September.

As a reminder, right before the covid crash the number of foreign-born workers was about 28.7 million, and increased by a whopping 4.5 million under Biden, while the number of native-born workers was actually down, a decline which serious "economists" blamed on demographics, a lack of willingness to work, and anything else.

It turns out, the number of native-borns could have very easily gone up if only someone remove the massive overhang of millions of illegals flooding through the border and taking away jobs (at a massive paycut) which perfectly capable native-born Americans would have taken. 

 

Tyler Durden Thu, 11/20/2025 - 11:25

Pages