The state of California has projected an image of economic superiority for many years that is simply a facade.  Much of the state’s GDP (the go-to stat used by Governor Gavin Newsom to deflect any criticism of fiscal mismanagement) is based on a large proportion of federal funding, state welfare spending and a handful of large corporations that are now leaving for greener pastures in red states.

The corporate exodus has been taking place for at least a decade, but it accelerated during the pandemic lockdowns and has not abated since.  It would appear that Newsom has finally recognized that his economic position is tenuous at best.  His latest “charm offensive” is designed to entice oil companies to stay in the Golden State, with legislation to increase domestic oil production in California through new drilling permits and rehabilitating a defunct offshore pipeline.

The bill will allow for 2000 new oil permits a year over the next 10 years.

Oil company executives, however, are not impressed with the offer.  They refer to doing business in California as “25 years of tyranny” and give a number of reasons why they are unlikely to stay.

First and foremost is California’s cap and trade laws, which heavily regulate carbon emissions (which have nothing to do with climate change).  Cap and trade programs raise costs for oil companies by requiring them to hold pollution permits for their emissions, which can be purchased at auction or from other companies. These costs contribute to higher fuel prices for consumers.

In the same bill that opened up the state for increased oil permits, there is a provision to extend cap and trade on greenhouse gases until 2045.  In other words, oil companies can drill more in California, but they’re going to have to pay out the nose for every single new well they drill. 

State leaders triumphantly celebrated what they declared a historic agreement that they said gives Californians the best of both worlds – stable gas and electricity prices as well as progress toward the state’s ambitious climate goals. But the celebration is premature.  

In 2023, Newsom went after “big oil” with a bill meant to monitor and penalize oil companies for “price gouging”.  The law was a propaganda stunt that scapegoated the oil industry for high prices that were actually caused by rising inflation and California’s militant gas taxes. 

Oil industry leaders say they can’t find employees willing to move to California, due to the politics of the state, the extremely high taxes and the overall cost of living including some of the highest housing prices in the nation.   Andy Walz, Chevron’s president of Americas products, says:

“It’s a tough place to recruit people,” he said. “It’s a tough place to move employees – a lot of our employees move up through the company, they gain experience in different geographies, different locations, and we have a lot of people who will not move to California. That makes it difficult.”

Californians are paying $4.65 for a gallon of regular gasoline while the national average is $3.17 per gallon, according to AAA. 

There are 13 refineries currently in operation in the state. When Valero and Phillips 66 shut down theirs, that number will be down to 11. The state had 40 refineries in 1983. Due to the exodus, California has had to rely on foreign sources for three quarters of its oil.

Newsom claims the new permits will stabilize gas prices by increasing in-state oil production, but this assumes that oil companies are willing to stay and operate under cult-like climate pressures.  In reality, California’s desperate bid to keep these companies around is doomed to failure.

Update (1013ET):

A shooting at an ICE facility in Dallas left two detainees dead and one critically wounded earlier, according to NBC News, citing an ICE spokesperson. No ICE agents were harmed in the sniper attack, though the suspected gunman died by a self-inflicted gunshot wound. 

Homeland Security Secretary Kristi Noem confirmed:

There was a shooting this morning at the Dallas @ICEgov Field Office. Details are still emerging but we can confirm there were multiple injuries and fatalities.

The shooter is deceased by a self-inflicted gunshot wound.

While we don’t know motive yet, we know that our ICE law enforcement is facing unprecedented violence against them. It must stop.

There was a shooting this morning at the Dallas @ICEgov Field Office. Details are still emerging but we can confirm there were multiple injuries and fatalities.

The shooter is deceased by a self-inflicted gun shot wound.

While we don’t know motive yet, we know that our ICE…

— Secretary Kristi Noem (@Sec_Noem) September 24, 2025

Around 0700 local time, the suspected shooter opened fire on a Dallas ICE facility from an adjacent building, in what some local media outlets described as a “sniper” attack.  

The Dallas ICE facility appears to have an apartment building directly adjacent with clear views down to the rear of the building.

This cannot be safe for ICE agents given the current wave of political violence against them. pic.twitter.com/owkSyRTnjg

— Ryan Arthur (@Ryan_Arthur_xyz) September 24, 2025

Police said the investigation is ongoing and a media briefing will occur later today. The motive remains unclear.

Vice President JD Vance wrote on X, “The obsessive attack on law enforcement, particularly ICE, must stop. I’m praying for everyone hurt in this attack and for their families.” 

Journalist Andy Ngo noted, “This is the second shooting attack on an ICE facility in Texas. The other one, an ambush attack in July, was allegedly committed by a North Texas Antifa cell.” 

*   *   *

Local media in Texas reports three people were critically wounded at an Immigration and Customs Enforcement facility in the Dallas metro area early Wednesday. 

Sources tell WFAA that a “possible sniper or multiple shooters” on a nearby roof targeted three people who were wounded at the ICE facility on 8101 North Stemmons Freeway in Dallas, just off Interstate 35E. 

Sources confirmed to the local outlet that the “shooter was found dead on the roof of a nearby immigration attorney’s office.” 

“Three people were injured at a Dallas ICE facility on Wednesday morning and police are searching for a possible sniper or multiple shooters, police sources tell WFAA,” the outlet wrote on X. 

Three people were injured at a Dallas ICE facility on Wednesday morning and police are searching for a possible sniper or multiple shooters, police sources tell WFAA.

Read more: https://t.co/lbgyCMdTsK pic.twitter.com/CHvGtGNOvN

— WFAA (@wfaa) September 24, 2025

Here is what’s known so far:

• Victims: Three people were critically wounded.

• Shooter: One gunman was found dead on the roof of a nearby immigration attorney’s office. Authorities are still investigating whether others may have been involved.

• Location: The incident happened around 7 a.m. at the ICE office at 8101 North Stemmons Freeway, near I-35E.

• Response: Police and emergency crews remain at the scene, with Texas Department of Transportation cameras showing dozens of vehicles lining the access road.

Fox News confirms shots were fired into the ICE facility, more specifically into an office area where detainees are brought in.

🚨 JUST IN: Acting ICE Director Todd Lyons says shots were fired INTO the ICE office in Texas, where detainees are brought in.

All ICE employees are ACCOUNTED FOR. There are confirmed fatalities. Victims appear to be detainees. pic.twitter.com/hSKR5cpZaW

— Eric Daugherty (@EricLDaugh) September 24, 2025

This shooting comes shortly after the Trump administration designated the leftist group Antifa as a domestic terrorist organization and declared war on leftist NGOs sowing chaos.

Democrats and their allied leftist groups have fueled toxic and harmful rhetoric against federal agents, whether it’s ICE or Border Patrol, as well as everyday Americans, calling anyone they disagree with “Nazis” or “Fascists,” which only normalizes assassination culture. 

The wave of violence – and even terrorism – emanating from the Democratic Party is a serious threat that must be addressed.

Given multiple ICE attacks by radical leftists in the state and elsewhere this year, the question now is whether Antifa or an affiliated group carried out this latest attack. No updates on the shooter have been released so far, other than confirmation of a self-inflicted gunshot wound.

Pattern of violence … 

Now, possibly this? 

This is very interesting. A major Muslim Brotherhood official was just detained by ICE in Dallas, Texas yesterday.

Hours later, 3 people have just been shot at an ICE facility in Dallas, Texas.

Was this an Islamic terrorist attack on an ICE facility? https://t.co/FPfx4fgSt8

— Laura Loomer (@LauraLoomer) September 24, 2025

Watch: Fox 4 Dallas has a live feed of the incident area. 

*Developing… 

With mortgage rates lower (but rising very recently), and mortgage applications spiking (though flat this week), and following record July cancellations, new home sales were expected to decline very modestly in August. The analysts could not have been more wrong as new home sales exploded 20.5% higher MoM (-0.3% exp) and are up 15.4% YoY.

That is the biggest MoM spike since August 2022…

Source: Bloomberg

The total new home sales SAAR surged to 800k (its highest since Dec 2021) and completely decoupled from existing home sales…

Source: Bloomberg

The surge was driven almost entirely sales in the South region…

Source: Bloomberg

The median new home price rose 1.9% y/y to $413,500 (average selling price at $534,100).

But, even with the jump in median new home prices, they are still well below the existing home price…

Source: Bloomberg

Additionally, houses for sale in Aug. fell 1.4% m/m to 490,000 pushing the months’ supply at 7.4 in Aug. compared to 9.0 prior month.

Did homebuilders finally capitulate?

Is the sales jump sustainable?

Source: Bloomberg

It appears lower mortgage rates and higher incentives helped a great deal but 20% is a crazy number.

Let’s remind everyone that we live in a capitalist system, and Disney was selling a failing entertainment product called Jimmy Kimmel Live! The late-night show suffered a ratings collapse over the last decade and devolved into a megaphone for the Democratic Party, spewing endless streams of misinformation and disinformation, such as the recent moment Kimmel labeled Kirk’s suspected assassin as “one of them,” a cheap shot aimed at President Trump’s base, MAGA conservatives. 

On Tuesday night, Kimmel returned to the air, but not on channels owned by Sinclair or Nexstar. President Trump quickly fired off a Truth Social post overnight, saying, “I can’t believe ABC Fake News gave Jimmy Kimmel his job back.”

We’re also surprised, given Nielsen data showing that Jimmy Kimmel Live! ‘s ratings have collapsed over the past decade. Additionally, Kimmel’s distasteful comments aimed at MAGA likely drove away sponsors and created pressure on local broadcasters. Hence, Sinclair and Nexstar are not airing the late-night show on their stations. 

Trump continued on Truth Social:

The White House was told by ABC that his Show was cancelled! Something happened between then and now because his audience is GONE, and his “talent” was never there.

Why would they want someone back who does so poorly, who’s not funny, and who puts the Network in jeopardy by playing 99% positive Democrat GARBAGE. He is yet another arm of the DNC and, to the best of my knowledge, that would be a major Illegal Campaign Contribution.

Here’s where things get interesting, Trump concluded the post: 

I think we’re going to test ABC out on this. Let’s see how we do. Last time I went after them, they gave me $16 Million Dollars. This one sounds even more lucrative. A true bunch of losers! Let Jimmy Kimmel rot in his bad Ratings.

Related:

• Nexstar & Sinclair Stand Firm Against Jimmy Kimmel Return

• Bill O’Reilly Shreds Liberals’ ‘Free Speech’ Spin Surrounding Jimmy Kimmel With One Brutal Fact

• The Real Story Behind Jimmy Kimmel’s Firing

. . .

Authored by Dilip Kumar Patairya via CoinTelegraph.com,

Key takeaways

• Stablecoins reduce settlement time, cross-border costs and enable programmable rewards. They outpace traditional credit card systems.

• US merchants pay over $100 billion in card fees yearly. In comparison, stablecoins offer much cheaper, faster payments.

• Ripple’s RLUSD, Gemini’s XRP Card and Moca’s Air Shop show stablecoins moving into mainstream commerce.

• With big players exploring adoption, stablecoins are positioned to become central to US payment systems.

Since stablecoins first emerged in 2014 to provide price stability in the volatile cryptocurrency market, they have redefined traditional banking. They have separated the core functions of storing and transferring money, which allows fintechs to build programmable services on a global digital currency system.

Traditionally, businesses accepted card payments, while the remaining functions, including holding deposits and offering additional services and tools, were the banks’ domain.

Stablecoins have largely replaced this with an ecosystem where most are centrally issued but operate on decentralized networks rather than a centralized entity. Moreover, it reduces cross-border transfer times, lowers costs, stabilizes fund values and introduces flexible reward systems that outpace credit cards.

Each time a credit card is used in the US, banks and payment networks take a small portion of the transaction, typically 1.5%-3.5%. This significantly reduces profits of merchants and contributes to higher prices for consumers. This is starting to change thanks to stablecoins.

This article discusses the costs associated with credit cards, how stablecoins compare with credit cards, stablecoin use cases in the industry and how stablecoins are disrupting the credit card industry for the better.

The cost you pay for credit cards

Credit cards are widely used for payments, not just in the US, but across the world. However, this convenience has a high cost. Each transaction involves hidden fees, such as interchange fees paid by merchants to banks, network fees collected by Visa and Mastercard and other processing costs. These fees, typically between 1.5% and 3.5%, cut directly into merchants’ profits.

Businesses like airlines, retailers and small shops often raise prices to cover these costs, which ultimately affects consumers. The payment system favors card networks, leaving merchants with little control. Meanwhile, consumers end up indirectly paying for the networks’ profits.

Stablecoins, pegged to a fiat currency like the US dollar, offer a solution with faster, cheaper and clearer transactions. By avoiding card networks and lowering fees, stablecoins could help businesses save money and provide better value to consumers.

Did you know? Unlike rigid cashback or points systems, stablecoins enable programmable loyalty programs. Merchants can customize rewards across brands, let customers trade or save them and ensure tokens maintain value, reshaping how loyalty is earned and spent.

What are stablecoins?

Stablecoins are a type of cryptocurrency created to hold a steady value by pegging to stable assets, usually the US dollar. Unlike unpredictable cryptocurrencies like Bitcoin or Ether, stablecoins offer stability, making them suitable for daily transactions.

Their value is typically supported by reserves of cash, short-term US Treasury securities or similar assets, designed to maintain one token at roughly one dollar. They combine the speed and efficiency of blockchain technology with the reliability of traditional currency.

USDC issued by Circle, is a dollar-pegged stablecoin that operates under US money-services-business registration and publishes regular, third-party attestations of its reserves. In December 2024, Ripple launched Ripple USD (RLUSD), making the coin available on global exchanges after receiving regulatory approval from the New York Department of Financial Services. These US dollar-linked stablecoins are transforming the payment system, providing businesses and consumers with a cost-effective, fast, global alternative to traditional payment methods.

Stablecoins vs. credit cards: The case for a better payment system

Stablecoins present an alternative to credit cards by addressing two of the biggest pain points in US payments: high fees and slow settlements.

Credit card payments may feel instant, but merchants usually wait one to three business days to receive funds. During that delay, they also pay fees of 1.5%-3.5% per transaction, which cut into margins and often get passed on to consumers. Stablecoins settle on blockchain networks, usually within seconds to minutes, at a fraction of the cost, giving both merchants and customers a faster and cheaper option.

No wonder stablecoins have caught the attention of merchants, airlines and large retailers that are eager to reduce their dependence on Visa and Mastercard’s entrenched networks. By adopting stablecoins, they can reclaim lost revenue, protect tight margins and still maintain robust loyalty programs.

Projects are now using blockchain-powered platforms to facilitate stablecoin-based rewards points. It helps retain real-world value, ensuring loyalty schemes remain attractive to customers while delivering tangible financial benefits to businesses.

Customers are able to truly own their reward points, which means they can save the points or move them elsewhere to spend outside of the platform where they were earned.

Here is a table illustrating how stablecoins compare with credit cards:

Use cases of stablecoins in the credit card industry

The competition between stablecoins and credit cards is not just about lower costs and quicker transactions. It also reflects how major companies are reshaping payment systems for end customers and businesses.

From cryptocurrency-backed credit cards to stablecoin-based loyalty programs, the industry is developing creative hybrid solutions that combine traditional and modern payment approaches.

Here are two case studies to help you get insights into how businesses are refining their payment systems:

Gemini and Ripple’s strategic moves

On Aug. 25, 2025, Gemini introduced the XRP Credit Card in collaboration with Ripple. The card provides up to 4% cashback in XRP for gas, electric vehicle charging and rideshare purchases (with a monthly cap); 3% for dining; 2% for groceries; and 1% for all other purchases. Rewards are credited instantly in crypto, and the card has no annual or foreign transaction fees.

Gemini also adopted Ripple USD (RLUSD) as the base currency for all US spot trading pairs, simplifying currency conversions. To further support RLUSD, Ripple acquired Rail, a payments platform, for $200 million, adding tools for cross-border payments, virtual accounts and automation to its ecosystem.

Retail and e-commerce innovations

Air Shop, scheduled for launch in September 2025, seeks to reshape loyalty programs through stablecoin-powered commerce. The platform employs Air Kit for secure identity and tiered membership verification, offering tailored rewards. At its core are Stable-Points (AIR SP), USD-backed tokens linked to stablecoins, which maintain their value unlike traditional loyalty points. These Stable-Points can be used at over 2 million merchants via BookIt.com, spanning travel, retail, dining and luxury experiences.

Unlike conventional loyalty programs with restrictive usage or diminishing value, Air Shop ensures flexibility and interoperability, letting users carry rewards across brands. Merchants gain a transparent, cost-effective way to connect with customers, while consumers enjoy trust, flexibility and genuine economic value.

The $100-billion potential: How stablecoins could disrupt the credit card industry

In 2024, credit cards were the most popular payment method among US consumers, accounting for 35% of all transactions. The total purchase volume reached $5.51 trillion across 56.2 billion transactions made with Visa and Mastercard products.

Stablecoins challenge this expensive system by providing nearly cost-free transactions, instant settlements and flexible rewards through blockchain technology. If stablecoins gain even 10%-15% of the transaction market, they could redirect billions in savings to merchants and consumers.

Continued adoption of stablecoin-based payments and loyalty programs by retailers, airlines and e-commerce companies could increase pressure on traditional credit card networks. Such a shift would not only reshape payment economics but also promote broader use of blockchain technology, transitioning stablecoins from a niche solution to a central component of US financial infrastructure.

Stablecoins are becoming a core component of the financial system

The competition between stablecoins and credit cards extends beyond payment methods. It determines who will control the flow of money in the digital age. With increasing regulatory clarity, institutional support and consumer confidence, stablecoins offer faster, cheaper and programmable transactions that are highly appealing.

Initiatives like Ripple’s RLUSD and Gemini’s offerings demonstrate how cryptocurrency companies are embedding themselves in mainstream finance. At the same time, major retailers such as Amazon and Walmart are exploring proprietary stablecoins to cut fees and reinvent loyalty programs. If these initiatives succeed, they could transform the economics of payments, redistributing billions in costs and benefits across the ecosystem.

While credit cards remain deeply rooted, blockchain-powered stablecoins are likely to become a core component of US commerce, reshaping incentives, lowering costs and redefining customer engagement in a $100-billion payment landscape.

Yesterday, as we detailed here, Argentina assets soared on the heels of US Treasury Secretary Scott Bessent calling the South American country “a systemically important US ally in Latin America,” adding that the US Treasury “stands ready to do what is needed within its mandate to support Argentina. All options for stabilization are on the table.”

This morning, Argentine bonds are extending gains following a follow-up post on X by Bessent that  the Trump administration “stands ready to do what is needed to support Argentina and the Argentine people.”

Specifically, Bessent writes that the US is discussing a swap line with Argentina and is ready to buy up the country’s dollar bonds.

“The Treasury is currently in negotiations with Argentine officials for a $20 billion swap line with the Central Bank,” Bessent said on X.

“We are working in close coordination with the Argentine government to prevent excessive volatility.”

Adding:

“In addition, the United States stands ready to purchase secondary or primary government debt.”

Argentine bonds are ripping higher on the news…

Bessent’s comments come after Trump’s Truth Social post supporting his “very good friend” Javier Milei:

Bessent concluded: “Argentina has the tools to defeat speculators, including those who seek to destabilize Argentina’s markets for political objectives…”

And for now, he is right as the peso is soaring…

Argentina’s capital markets had been roiled in the past few weeks after a weak showing by President Milei in a local election, but speaking on Fox on Wednesday morning, Bessent called the aid a “bridge to the election,” referencing Argentina’s midterms on Oct. 26.

“I don’t think the market has lost confidence in him, I think the market is looking in the rear view mirror and looking at decades, about a century, of terrible Argentinian mismanagement,” Bessent said.

This marks the second major bailout for Argentina under Trump, as his administration takes on a more prominent role in Latin American politics. In 2018, Trump pushed the International Monetary Fund to approve an initial $50 billion program for the country under then-President Mauricio Macri, a deal that quickly unraveled. 

“It clears up uncertainty about the liquidity difficulties generated by the economic program so far,” Federico Filippini, Chief Economist at Adcap Grupo Financiero. 

“The announcement that the Treasury would be willing to directly purchase sovereign debt significantly increases the likelihood of a fall in country risk to the point that the government could issue debt in early 2026.”

The Trump administration’s swap line would be bigger than Argentina’s line with China’s central bank, which is about $18 billion.

“For Washington, Milei represents more than an economic partner: He is also a strategic geopolitical ally as the US seeks to build a bloc of like-minded governments in Latin America,” said Claudio Zampa, founder of Switzerland-based Mangart Capital Management.

Finally, as one veteran market-whisperer put it: everyone says they are ready to ‘do austerity’ to fix any domestic fiscal shitshow; but, in the end, every voter capitulates and goes with whoever promises free shit. Despite bringing down inflation…

…Milei is facing that free-shit army’s impatience and the hope is that with Bessent’s help, they can survive to fight another election.

As Eugenia Mitchelstein, a social sciences professor at the University of San Andrés in Buenos Aires, points out, the midterm elections allow Argentinians to weigh in on whether Milei has done enough to stabilize the turbulent economy, and could have major ramifications for how he governs going forward. It will be a referendum on the politics of the chainsaw. 

We give Bessent the last word on how that works out: “Argentina has the tools to defeat speculators, including those who seek to destabilize Argentina’s markets for political objectives.”

Via Remix News,

Germany’s left have long claimed that the Alternative for Germany (AfD) is a threat to democracy, and due to this claim, they argue the party should be banned entirely. Although banning parties is typically reserved for authoritarian regimes, this outcome remains a very real possibility in Germany, and a local election in the city of Ludwigshafen just showed what such an outcome could look like in practice.

Incredibly, the main candidate for the AfD, Joachim Paul, was banned from running in the mayoral election. The method used to ban him could become widespread and now represent — despite what the left claims — the true threat to democracy in Germany.

Using an expert opinion from the powerful domestic spy agency, the Federal Office for the Protection of the Constitution (BfV), commissioned by Social Democrat (SPD)-led Interior Minister of Rhineland-Palantinate, Paul was banned through the courts. It was a backdoor method that three separate courts upheld after numerous appeals by the AfD” ‘s lawyers.

“Election night without the blue bar. And without an alternative! Remarkable: low voter turnout and a relatively high number of invalid votes. I thank everyone who has supported me in the last 6 weeks! Many heartfelt thanks!” wrote Paul on his X page.

#Ludwigshafen: Wahlabend ohne blauen Balken. Und ohne Alternative! Bemerkenswert: niedrige Wahlbeteiligung und relativ hohe Zahl ungültiger Stimmen. Ich danke allen, die mich in den letzten 6 Wochen unterstützt haben! Vielen lieben Dank! 🙏🤝 pic.twitter.com/mxmLGeBA13

— 𝗝𝗼𝗮𝗰𝗵𝗶𝗺 𝗣𝗮𝘂𝗹 𝗠𝗱𝗟 (@JoachimPaul_AfD) September 21, 2025

Notably, Paul was leading in the polls before he was removed entirely from the ballot. Nobody replaced him on the ballot either, meaning the AfD was not represented by anyone in the election.

Now, the turnout in the mayoral election has reached an all-time low of just 29.3 percent. In 2017’s mayoral election in Ludwigshafen, the then-SPD candidate Jutta Steinruck won with 60.2 percent participation.

That means voter turnout was cut in half from that election.

That is not all. For those who did vote, many of them appear to have submitted “spoiled” ballots. A record-high number of ballots were ruled invalid, at 9.2 percent. Eight years ago, that number was just 2.6 percent.

In the final totals for this most recent election, in which Paul was banned, Klaus Blettner (CDU) and Jens Peter Gotter (SPD) have advanced to the runoff vote. Blettner received 41.2 percent of the vote and Goter 35.5 percent. Another SPD candidate, Martin Wegner, received 15.7 percent, and Volt candidate Michaela Schneider-Wettstein received 7.6 percent.

However, to claim that whoever wins the second round of voting now has a “mandate” from the people in a fair democratic election is questionable, if not outright laughable.

Still, the liberal media and establishment politicians will either be silent about what happened in Ludwigshafen or openly cheer it on, despite 70 percent of voters choosing simply not to vote, and many who did protested with invalid votes.

This entire operation, a true victory for “democracy,” was orchestrated by AfD rival parties from start to finish. Outgoing Mayor Steinruck, while serving as chairwoman of the electoral committee, initiated the expulsion. All parties in the city are represented on the electoral committee — except the AfD.

The only party to reject the move in the committee was the Free Democrats (FDP). All others backed the unprecedented move. It was in their electoral interest, after all. Eliminating the democratic competition through bureaucratic backroom deals is now de facto a reality in Germany.

Paul says he is not giving up and told the media that he has initiated further legal action, the very same day voters headed to the polls.

“We are determined to contest the election. Whether after the first round or after the runoff is up to my lawyers,” Paul told the German Press Agency.

Other courts have already rejected Paul’s attempts to gain a spot on the ballot before the election, with all of these courts telling him he must pursue legal actions after the vote was already concluded.

Party co-leader Alice Weidel has criticized the mayoral race as well.

“Only 29.3% of the Ludwigshafen residents participated in the mayoral election, from which AfD candidate Joachim Paul was excluded. A democracy thrives on the freedom of choice — but that wasn’t even granted to the citizens,” wrote Weidel.

Nur 29,3% der Ludwigshafener nahmen an der Wahl des Oberbürgermeisters teil, von der AfD-Kandidat Joachim Paul ausgeschlossen wurde. Eine Demokratie lebt von der Freiheit der Wahl – doch die hat man den Bürgern gar nicht erst gelassen. pic.twitter.com/aauwsnAs1a

— Alice Weidel (@Alice_Weidel) September 21, 2025

However, her and her party’s protests are certain to have little influence on how this new weapon is used. In fact, the only remedy may be through the courts, the same ones that have many judges actively hostile to the AfD.

In contrast, the outgoing mayor, Steinruck, says banning a candidate through a bureaucratic process, one that has never been used before, is simply the “rule of law.”

“There are rules. We, as the electoral committee, have obviously adhered to these rules. There are now three court rulings that confirm this.” She said the fact that people are “questioning” the rule of law makes her “sad.”

“We all have to continue working on this in the future,” Steinruck added.

AfD remains at record high

This move comes at a time when debate over a ban on the entire AfD continues to rage. The AfD currently stands at between 26 percent and 27 percent in national polls, and could even reach 30 percent within the next year.

Of course, the party may also fall from this polling high. However, the federal government remains deeply unpopular, and the core issues of a faltering economy, sky-high immigration, exploding crime, troubled schools, soaring debt levels, and a disastrous energy policy are not going away.

The ground is ripe for the AfD to remain a competitive party.

Pressure for an outright ban will grow more intense as the party grows more popular, but if that is not achieved, more and more AfD candidates may simply be eliminated from participating in elections altogether via the method used to eliminate Paul.

The precedent has now been set.

Read more here…

Amid mounting speculation that Europe can fund at least part of its gargantuan fiscal commitments with seized Russian assets, French President Emmanuel Macron said in a Sept 21 interview with CBS News that confiscating frozen Russian assets would constitute a violation of international law. 

Recall that at the start of the Ukraine war in 2022, G7 countries froze approximately $300 billion in Russian central bank assets, with about two-thirds held by the Belgian clearinghouse Euroclear. At the same time, Russia was kicked out of the global dollar cross-border payments network, SWIFT. The decision to weaponize fiat currencies sparked a historic meltup in gold and led to the disconnect of gold with such traditional drivers of the price as real yields. 

In any case, European governments and G7 allies have been exploring ways to generate revenue from these immobilized funds without outright seizing them, which would have legal and political ramifications.

But Macron, already facing a political crisis at home, has put a lid on these discussions. 

“You cannot seize these assets from the (Russian) Central Bank even in such a situation. And I think it’s a matter of credibility, and it’s very important that our countries remain… and do respect the international laws,” Macron said, clearly unaware where the price of gold has gone in the past 3 years and that it is now far too late to worry about “credibility.”

“So we will respect international law. We are predictable, and we will not do all impossible things with these frozen assets.”

Brussels has been reluctant to confiscate assets outright due to potential fiscal and legal pitfalls. Instead, it uses the profits generated by the assets to fund Ukraine’s defense and reconstruction via the $50 billion G7 loan and a separate EU program. In recent months, there have been mounting calls for the EU to pursue more radical ways of using the profits for Ukraine’s benefit, such as through riskier investments.

Earlier in September, European Commission President Ursula von der Leyen said that the EU could provide Ukraine with a reparations loan funded by cash balances associated with the frozen Russian assets.

Authored by Roman Kireev via The Mises institute,

The Scandinavian model is often misrepresented as a humane and efficient form of socialism. In reality, it is a distinctly coercive and oligarchic form of statism.

While the system preserves the formal legality of civilized concepts like human rights, justice, and private property, in practice, it operates on a Marxist-fascist foundation: it systematically violates the individual through taxation, regulation, and bureaucratic entrapment—leaving only a small, politically-connected class permitted to engage in a narrow, state-sanctioned form of commerce.

By the late 19th century, Scandinavian states had come to realize that they could not operate the machinery of production and commerce themselves—at least not in the ambitious new state-socialist style of their continental counterparts. More plausibly, they faced a deeper structural limitation: they lacked a native middle class to take over, yet sat atop vast, underexploited natural resources.

The result was pragmatic: delegate production to politically-favored actors, both foreign and domestic, who would extract and commercialize resources in exchange for tribute, loyalty, and compliance. In essence, the state outsourced its revenue generation to a politically-connected class of industrialists and resource exploiters through administrative privilege and legal monopoly.

This structure was not built by the Western myth of socialist compromise—peaceful violence. It was built by a fusion of Marxist redistribution and fascist favoritism—a system where the state does not outright abolish private enterprise formally, but does so in practice by licensing it selectively, rewarding obedience, and suppressing independence.

The only challenge that remained was how to present this system as orderly, stable, and socially justified. And there was pressure to construct the myth quickly: waves of emigration were draining the countryside of labor and talent, as individuals fled poverty and rigid class structures in search of opportunity abroad. To stop the bleeding, Scandinavian states offered not only economic incentives, but an ideological narrative—a promise of stability, security, and equality that could keep individuals invested in a system built on coercion and quiet obedience. Thus was born the myth of Scandinavian socialism.

The average citizen in Scandinavia owns no capital, produces nothing independently, and functions as a maintenance technician in this vast and dying bureaucratic apparatus. His reward is not profit, ownership, and autonomy, but the promise of state pension, welfare entitlements, and state-managed insurance. In return, he accepts his role in the machinery—with no means or incentive to escape it.

Let us be clear: Scandinavia is not a society of free men cooperating in liberty.

It is a command economy, masquerading as a hybrid—funded by 19th-century taxation, designed to pacify a docile population, and structured to preserve entrenched oligarchic power.

The good news is that today, the system is failing.

The foundational spoils are dwindling. Competitiveness is eroding. The population is aging. The machine groans under its own weight.

The bad news is that, in the face of collapsing revenue and unsustainable obligations, Scandinavian states will soon turn to their final recourse: the nationalization of wealth, the confiscation of private capital, and the full realization of the Marxist impulse they have always harbored.

Why wouldn’t they rank happy?