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UK’s Starmer Organizing Renewed Food Air Drops Over Starving Gaza

UK’s Starmer Organizing Renewed Food Air Drops Over Starving Gaza

Efforts of Western and some Mideast regional countries like Jordan to alleviate famine in Gaza largely failed during initial airdrops over the Strip which occurred in 2024.

Food and medicine air drops proved more dangerous than conventional delivery utilizing trucks crossing land routes, as in some instances large aid crates fell on make-shift homes and tents, crushing and at times injuring or killing people.

There were also instances of drowning as aid was dropped into the sea during the 2024 efforts. For example a single day in March of last year saw 18 people die trying to desperately access the aid.

But given that at this point scores of people are dying each day from hunger, air drops are increasingly a risk everyone (or Western countries) is willing to take – even as Israel’s military is still exercising a tight grip on what aid is allowed into Gaza and who distributes it.

British Prime Minister Keir Starmer is among those organizing a renewed air drop operation, and he also wants to evacuate injured Palestinian children.

He spoke over the weekend to his French and German counterparts, British and international media reports indicated:

But this has served to renew the controversy surrounding aid delivery methods and air drops – also after Biden’s Army-constructed floating pier fiasco.

UNRWA head Philippe Lazzarini has dismissed new talk of aid airdrops as a “distraction & smokescreen” and is once again pleading with Israel to “open the gates” to trucks instead.

“Airdrops will not reverse the deepening starvation. They are expensive, inefficient & can even kill starving civilians,” Lazzarini posted on X.

“Airdrops will not prevent aid diversion, principled humanitarian assistance will. It reaches those in need,” Lazzarini added, noting that UNRWA currently has the equivalent of 6,000 trucks in Jordan and Egypt waiting for the green light to enter Gaza.

Israel and its US ally have long accused Hamas and Palestinian factions of looting the aid and subsequently reselling it – a charge which the Palestinian side has frequently denied. The IDF stands accused of in essence operating an open-air prison from which civilians cannot possibly hope to escape, as the war rages on.

Tyler Durden
Sun, 07/27/2025 – 13:25

Trump Says Supreme Court’s Immunity Ruling Likely Helps Obama Following DNI Disclosures

Trump Says Supreme Court’s Immunity Ruling Likely Helps Obama Following DNI Disclosures

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

President Donald Trump on Friday said that former President Barack Obama likely has immunity following a U.S. Supreme Court ruling in light of a report that was declassified by Director of National Intelligence (DNI) Tulsi Gabbard earlier this month.

Gabbard said the documents showed that Obama and his then-Cabinet members “manufactured and politicized intelligence to lay the groundwork for what was essentially a years-long coup against President Trump,” which Obama denied in a statement earlier this week. Gabbard said in a Sunday interview that she referred some Obama-era officials for criminal prosecution to the Department of Justice (DOJ) and the FBI.

Trump on Friday was asked by a reporter during a press gaggle at the White House, “How do you think that the Supreme Court’s ruling that benefited you on presidential immunity would apply to former President Barack Obama and what you’re accusing him of doing?”

The question for Trump was referring to the Supreme Court’s 6–3 ruling in 2024 that stated presidents have prosecutorial immunity for official acts within the executive presidential authority that Congress has no jurisdiction over.

It probably helps him a lot,” Trump said in response, adding that the ruling “doesn’t help the people around him at all. But it probably helps him a lot.”

The president said he believed Obama had committed “criminal acts,” but that “he has Immunity,” which he said “probably helps him a lot.”

“Obama owes me big” for the Supreme Court ruling, Trump said.

Earlier this week, the president said that Obama officials “tried to rig the election, and they got caught, and there should be very severe consequences for that.”

Responding to accusations from Gabbard, a spokesperson for Obama reiterated the assertion that Russia attempted to interfere with the 2016 presidential election.

Nothing in the document issued last week undercuts the widely accepted conclusion that Russia worked to influence the 2016 presidential election but did not successfully manipulate any votes,” the spokesperson said on July 22.

Obama’s spokesperson also pointed to a 2020 Senate Intelligence Committee report, saying the committee affirmed that Russia worked to influence the election.

Earlier this week, Gabbard said, “There is irrefutable evidence that details how President Obama and his national security team directed the creation of an intelligence community assessment that they knew was false.”

Among the documents declassified by the DNI is a House Intelligence report dated Sept. 18, 2020, which found that several intelligence reports that suggested Russian President Vladimir Putin aspired to help then-presidential candidate Trump in the months leading up to the 2016 presidential election were “substandard.”

Specifically, three reports published internally by the CIA after the election contained information that was potentially biased, implausible, unclear, or of uncertain origin, the House Intelligence Committee said in the report that was released by Gabbard on Wednesday.

One scant, unclear, and unverifiable fragment of a sentence from one of the substandard reports constitutes the only classified information to suggest Putin ‘aspired’ to help Trump win,” the panel stated.

The reports were used as foundational sources for an intelligence community assessment made public in January 2017.

The intelligence community “ignored or selectively quoted reliable intelligence reports that challenged—and in some cases undermined—judgments that Putin sought to elect Trump” and failed to consider plausible alternative explanations, the House report stated.

The DOJ on July 23 announced that it was forming a task force following the declassification of the documents.

In a statement posted to X, the DOJ said that the task force would “assess the evidence publicized by Director of National Intelligence Tulsi Gabbard and investigate potential next legal steps which might stem from DNI Gabbard’s disclosures.”

Zachary Stieber contributed to this report.

Tyler Durden
Sun, 07/27/2025 – 12:50

11 Stabbed In Attack At Michigan Walmart

11 Stabbed In Attack At Michigan Walmart

A stabbing incident at a Walmart in Traverse City, Michigan, left at least 11 people injured, according to authorities.

The local sheriff’s office is investigating the attack and details are limited, but Michigan State Police confirmed that a suspect was in custody.

Meanwhile, T.J.Muscaro reports for The Epoch Times that Munson Healthcare posted on social media that 11 people were being treated at a hospital in northern Michigan, and a spokeswoman further said that all 11 were stabbing victims. Spokesperson Megan Brown said late Saturday that six were in critical condition and five were in serious condition.

The Grand Traverse County Sheriff’s Office later said in a statement on social media that the suspect was a 42-year-old man who entered the store around 4:45 p.m. A sheriff’s deputy arrived within minutes of the suspect drawing his knife.

He was taken into custody, and people in the store also helped apprehend the suspect and treat victims, the sheriff’s office said.

Sheriff Michael Shea said the suspect is believed to be a Michigan resident and the weapon used in the attack appeared to be a folding-style knife.

Michigan Gov. Gretchen Whitmer said her office is in contact with police and that she will monitor the situation closely.

“I’m in touch with law enforcement about the horrible news out of Traverse City,” she said on X.

“Our thoughts are with the victims and the community reeling from this brutal act of violence. I am grateful to the first responders for their swift response to apprehend the suspect.”

Deputy Director of the FBI, Dan Bongino said on X, “FBI personnel are responding to provide any necessary support to the Grand Traverse County Sheriff’s Office in their investigation of the attacks at the Walmart.”

Traverse City is a known tourist destination along the shore of Lake Michigan, close by Sleeping Bear Dunes National Lakeshore, and known for other attractions such as wineries.

The incident occurred a little more than a month after a suspected gunman stormed into CrossPointe Community Church in Wayne, Michigan. He injured a security guard but was then fatally shot by two congregation members who volunteer on a church security team.

“A parishioner struck the gunman with his vehicle as the gunman shot the vehicle repeatedly,” police chief Ryan Strong told reporters on June 22. “At least two staff members shot the gunman, causing the fatal wounds.”

Roughly 150 people were in the congregation that morning. The security guard suffered an injury to his leg.

“We are grateful for the heroic actions of the church’s staff members, who undoubtedly saved many lives and prevented a large-scale mass shooting,” the chief said.

Tyler Durden
Sun, 07/27/2025 – 12:15

Bongino Declares He’s “Shocked To The Core” By FBI Deep State Investigations

Bongino Declares He’s “Shocked To The Core” By FBI Deep State Investigations

Authored by Steve Watson via Modernity.news,

Deputy FBI Director Dan Bongino has claimed that investigations into Deep State weaponisation of law enforcement and intelligence operations are underway behind the scenes and that what he has already discovered has profoundly “shocked” him.

“During my tenure here as the Deputy Director of the FBI, I have repeatedly relayed to you that things are happening that might not be immediately visible, but they are happening,” Bongino states in an X post.

He adds, “The Director and I are committed to stamping out public corruption and the political weaponization of both law enforcement and intelligence operations. It is a priority for us.”

“But what I have learned in the course of our properly predicated and necessary investigations into these aforementioned matters, has shocked me down to my core,” Bongino urges.

He continues, “We cannot run a Republic like this. I’ll never be the same after learning what I’ve learned.”

“We are going to conduct these righteous and proper investigations by the book and in accordance with the law. We are going to get the answers WE ALL DESERVE,” Bongino further asserts. 

He concludes “As with any investigation, I cannot predict where it will land, but I can promise you an honest and dignified effort at truth. Not “my truth,” or “your truth,” but THE TRUTH.”

Respondents on X, clearly frustrated with the lack of action in the past six months called on Bongino to make something meaningful happen.

*  *  *

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
Sun, 07/27/2025 – 11:40

China, US Extend Tariff Pause Another 90 Days

China, US Extend Tariff Pause Another 90 Days

Ahead of trade talks in Stockholm that are set to begin tomorrow, The South China Morning Post reports that, according to sources close to the matter on both sides, the US and China are set to extend their tariff truced by another three months.

China and the United States agreed in May to remove most of the heavy tariffs levied on each other’s goods for 90 days while continuing trade negotiations.

That suspension is set to expire on August 12.

SCMP reports that one source said that, during the expected 90-day extension, the two nations will commit to not impose additional tariffs on each other, nor escalate the trade war by other means.

People’s Daily, the mouthpiece of China’s ruling Communist Party, said in an editorial on Sunday that Beijing was willing to work with Washington to make “substantive progress” in resolving issues during the coming trade talks in the Swedish capital.

“China has always maintained a constructive position and insisted on resolving issues through equal dialogue and consultation,” the newspaper said.

“It is willing to work with the US to take the economic and trade talks in Sweden as an opportunity to continuously enhance consensus, accumulate mutual trust, reduce misjudgments and strengthen cooperation.”

While analysts have welcomed the continuation of discussions, most do not expect any sweeping changes to emerge from the negotiations in Stockholm.

“Don’t hold your breath. I don’t think it’s going to be a breakthrough, but I hope I’m wrong,” Niklas Swanstrom, director of the Institute for Security and Development Policy, a think tank based in Stockholm, said ahead of the talks.

Tyler Durden
Sun, 07/27/2025 – 11:37

German Police Raid AfD MEP’s Property For The 22nd Time

German Police Raid AfD MEP’s Property For The 22nd Time

Via Remix News,

German police have raided Alternative for Germany (AfD) MEP Petr Bystron’s property for the 22nd time, using the pretext of his connection to the defunct Voice of Europe website, which was run by a man exiled from Ukraine.

The house raid came while Bystron was in Washington D.C., meeting with Trump officials, including congressmen and allies of President Donald Trump and Vice President J.D. Vance.

On early Tuesday morning, German police searched an older warehouse where Bystron conducted business a decade ago.

“This is targeted terror against the opposition,” Bystron said in a press release. “There is no other way to classify the absurd behavior of the authorities.”

Bystron was the target of Czech intelligence services last year, who decided to release a variety of allegations surrounding their investigation at a rather opportune time—right before EU parliamentary elections. The raid against Voice of Europe (VoE) and the accusations against Bystron, which Remix News covered, was widely seen as damaging the AfD’s reputation before voters headed to the polls.

Notably, Czech intelligence claimed to have voice recordings that revealed Bystron was involved with a scheme to provide politicians with money in exchange for conducting interviews with the outlet VoE.

The Czech authorities have never made the recording of Bystron public despite demands from the AfD to release it. Nobody has ever been charged to date in connection with the allegations, including Bystron himself. Bystron, however, was the only name that was released in connection with the case, although authorities claimed six European politicians received money from VoE.

The raid against Bystron may be seen as especially provocative as it was conducted at a time when Bystron was out of the country and meeting with Trump officials and congressmen. He is seen as the AfD party’s key bridge to American policymakers and is known for his connections to the Republican Party.

Bystron himself said that despite his properties being raided 21 times, the police have not turned up any incriminating information against him.

He also said that the police have even raided his elderly mother’s room in her retirement home and took testimony from her, despite her having been officially declared by the court as a dementia patient.

“Every single one of these 22 searches was illegal. Each one marks a step away from a democratic constitutional state and toward an authoritarian regime that seeks to silence dissent by any means necessary,” Bystron told the Gateway Pundit.

Notably, the house raid of Bystron also occurred on the same day that a top German court in Leipzig rejected a significant AfD’s appeal. The party was working to overturn its current designation as a “suspected extremist” party by the powerful domestic spy agency, the Office for the Protection of the Constitution (BfV). With all appeals now exhausted, this means the BfV can conduct extraordinary surveillance on the AfD, including targeting members with wiretaps, reading their chats and emails, and using informants to infiltrate the party.

A number of prominent commentators on the German right have already highlighted the case on X, with Naomi Seibt stating: “They are spitting in the face of J.D. Vance.”

Other news outlets have also met the news of the incredible number of house searches targeting the AfD MEP with concern about Germany’s quickly evolving totalitarian methods for dealing with dissent.

“Anyone who expresses critical views on war preparations must apparently expect house searches,” said a reporter from AUF1 in a video post shared by Bystron himself.

Pressure has grown on the German government over the incredible growth of the AfD. In the latest Yougov poll, the party is tied for first place with the CDU, with 25 percent of the vote. The CDU lost 3.5 percent of the vote, while the AfD has jumped 4.2 points.

Read more here…

Tyler Durden
Sun, 07/27/2025 – 09:20

UN Watchdog Chief Believes Inspectors Will Return To Iran This Year After Europe Meeting

UN Watchdog Chief Believes Inspectors Will Return To Iran This Year After Europe Meeting

Iranian diplomats have concluded talks with their European counterparts from Germany, the UK, and France on Friday to revive nuclear negotiations, amid warnings from the three European nations that they may activate the “snapback” UN sanctions mechanism outlined in the defunct 2015 nuclear agreement.

The Istanbul-hosted meeting lasted about four hours and marks the first such engagement since Israel’s mid-June strikes on Iran, which triggered a 12-day conflict, at the end of which the US intervened on Israel’s side and bombed three key nuclear facilities.

Throughout the June war, top Iranian military commanders, nuclear experts, and hundreds of civilians were killed. Iran has said its nuclear sites were ‘destroyed’ but still maintains the capability and “right” to enrich uranium for its domestic nuclear energy program.

Via Iran International

Following Friday’s talks, Iran’s Deputy Foreign Minister Kazem Gharibabadi, who attended alongside senior diplomat Majid Takht-Ravanchi, described the discussions with the European powers as “serious, frank, and detailed”.

The talks were focused on sanctions relief and nuclear concerns, which each side expressed willingness to continue the discussions.

Despite Iran recently booting IAEA nuclear inspectors from the country, the UN nuclear watchdog remains optimistic of the return of a monitoring regimen:

The head of the United Nations nuclear watchdog is optimistic that inspectors will be able to return to Iran later this year, he said on Friday.

Rafael Grossi, director general of the International Atomic Energy Agency, told reporters that it was important to start discussing with Tehran the modalities of restarting visits.

“We need to agree on where to go, how to do it. We need to listen to Iran in terms of what they consider should be the precautions to be taken,” he said. 

Meanwhile, Iranian Deputy Foreign Minister Kazem Gharibabadi has once again warned that if “snapback” sanctions are reinstated, Iran would respond with punitive countermeasures, including the possibility of withdrawing from the Nuclear Non-Proliferation Treaty (NPT).

The NPT requires non-nuclear states to keep their nuclear activities strictly for peaceful, civilian use. Notably, Israel, which is widely believed to possess nuclear weapons – possibly dozens or over one hundred – has not signed the treaty, and Tehran has long blasted this international hypocrisy.

Under the 2015 Iran Nuclear Deal, Tehran committed to restricting its nuclear program to civilian purposes in return for the lifting of UN sanctions but the historic agreement included a “snapback” provision allowing for the reimposition of those sanctions if Iran is found to be in violation of the agreement. But after Trump withdrew the US from the JCPOA in April 2018, Iran has been saying essentially ‘what deal?’ …and that Washington can no longer be trusted.

Tyler Durden
Sun, 07/27/2025 – 08:45

Why’d Ghana Of All Countries Agree To Partially Finance Ukraine’s Drone Program?

Why’d Ghana Of All Countries Agree To Partially Finance Ukraine’s Drone Program?

Authored by Andrew Korybko via Substack,

Footing part of this bill in exchange for Ukrainian support for securing its borders is one of the costs that Ghana must pay as part of its involvement in the emerging anti-Russian regional coalition that plans to wage a protracted hybrid war against Moscow’s Sahelian Alliance/Confederation allies.

Zelensky announced after a call with his Ghanaian counterpart in early July that “Ghana is ready to finance our (drone) production, and we are ready to help our partners secure their borders.” This caught many observers by surprise since Ghana has a GDP per capita that’s a little less than half of Ukraine’s. It makes more sense though when one recalls that West Africa is one of the New Cold War’s fronts. Russia supports the Sahelian Alliance/Confederation while France, the US, and Ukraine support its opponents.

The last-mentioned trilateral’s backing of terrorist-designated Tuareg separatists in Mali and similarly designated Islamic radicals there, in Burkina Faso, and Niger has thus far failed to break up this bloc. That’s not to say that this subversion doesn’t stand a chance of succeeding, just that continued Russian security assistance makes it much more difficult than they expected. As a back-up plan, they’ve therefore preemptively sought out regional bases to facilitate a protracted hybrid war, ergo Ghana’s importance.

The Wall Street Journal reported as far back as January 2024 that “The U.S. is holding preliminary talks to allow American unarmed reconnaissance drones to use airfields in Ghana, Ivory Coast and Benin”. Nothing has yet to tangibly come from those talks, but the latest update from two months ago in May shows that the US decided to focus its efforts on Cote d’Ivoire (Ivory Coast). Ghana is right next door, and both border the Sahelian Alliance/Confederation, so there’s a logic to Ukraine cultivating ties with it.

Seeing as how “Ukraine Has Been Presenting Itself As A Reliable Mercenary Force Against Russia In Africa” via its involvement in Sudan and Mali, the precedent is established for it doing the same in Burkina Faso, which is the Sahelian Alliance/Confederation member that borders Ghana. An estimated 40% of Burkina Faso is already under the control of terrorist groups, some of whom are reportedly infiltrating into Ghana and the Ivory Coast, so Kiev’s quid pro quo with Accra is semi-legitimate.

Nevertheless, given the abovementioned role that Ukraine has played vis-à-vis Russia in Africa at the US’ behest, it should also be taken for granted that this semi-legitimate deal will be exploited as the cover for the West to ramp up its hybrid war against the Sahelian Alliance/Confederation. Ukraine’s speculatively forthcoming clandestine base of operations in Ghana will focus on Burkina Faso while the US’ openly planned drone base in neighboring Ivory Coast will divide its focus between there and Mali.

The US and France will “Lead From Behind” by providing back-end support for the Ivory Coast, Ghana, and Ukraine, who’ll advance their shared interests vis-à-vis the Sahelian Alliance/Confederation, thus doing the heavy lifting and bearing many of the costs. The Ivory Coast and Ghana equally fear terrorist spillovers and the scenario of Russian-inspired patriotic military coups, Ukraine has an axe to grind with Russia, while the US and France want to reverse regional multipolar trends.

This confluence of interests explains why Ghana of all countries agreed to partially finance Ukraine’s drone production since that’s one of the costs that it must pay as part of this coalition. Their deal serves as the anti-terrorist pretext for directly involving Ukrainian forces, whether conventional and/or unconventional (like GUR), in this planned hybrid war offensive against the Sahelian Alliance/Confederation’s southern front. Burkina Faso, Mali, and Niger should thus brace for the worst.

Tyler Durden
Sun, 07/27/2025 – 08:10

BlackRock & Fidelity In Collusion With The UK Government?

BlackRock & Fidelity In Collusion With The UK Government?

Authored by Alasdair Macleod via VonGreyerz.gold,

The Western World is Already In Recession

Subtract budget deficits from national GDPs, and private sector GDPs are shrinking. While government spending is creating more debt, the tax base to pay interest costs is contracting.

Some analysts are pointing out that private sector debt is declining and they conclude that lending risk is lower than commonly thought. An article in the UK’s Daily Telegraph (Wednesday, 16 July) by veteran journalist Ambrose Evans-Pritchard was headed, “British debt is a screaming buy and Blackrock, Fidelity, and Schroders agree”.

As Evens-Pritchard points out, these financial megaliths are at odds with the sentiment in the gilt market, which must also be the case in other economies with a significant government borrowing requirement. It begs the question as to whether this story is planted in cooperation with the UK government, aware of a funding problem.

Conspiracy theory, maybe, but government disinformation is remarkably common. We must proceed with what we know in answering the question raised: Do you buy or sell government debt?

GDP tells a different story

To answer it, we must deconstruct GDP, changing our focus to the US economy, which is the one that really matters. The US budget deficit last year was 6.4% of nominal GDP. But nominal GDP growth was only 5.0%, meaning that the private sector must have contracted by 1.4%. In Q1 2025, nominal GDP increased at an annualised rate of 3.25%, yet the budget deficit is still over 6% and rising. Therefore, the private sector is contracting at an increased rate. In fact, adjusted for price inflation, real GDP actually contracted 0.5% on revised official estimates.

Obviously, nominal GDP is only growing due to the federal government’s excess spending over revenues. And because GDP is no more than a credit figure, credit deployed by the private sector is actually contracting. It reflects not only overall economic activity in the private sector but is a net figure encompassing changes in savings rates, bank credit, business start-ups and closures, and debt write-offs. The FRED chart below illustrates the reduction of bank credit for non-financial private sector lending as a proportion of the total economy.

The US savings rate has declined to less than 1% of total consumption, while debt write-offs have risen. But the big change is in banks redeploying their balance sheets away from the non-financial private sector, in a trend which dates back to the Lehman crisis and particularly Q1 of 2021.

The situation of the UK economy differs in its particulars but in their aggregate the situation is similar. Other major economies with government budget deficits piling on more debt sustaining the illusion of private sector growth include the entire G7.

So far, I have described the situation represented by official statistics, which only look backwards with questionable reliability. Looking ahead, we can be certain that President Trump’s tariff policies are creating uncertainty, and when they are finally fixed, they will impact global business activity negatively. Not only is this logical, but it is confirmed by the evidence that followed the Smoot-Hawley Tariff Act of 1930, which, coupled with contracting private sector credit following the roaring twenties, collapsed the US economy and spread the slump globally.

Does that combination ring any alarm bells yet?

It is a racing certainty that Trump’s tariffs will have the same consequences as the Smoot-Hawley Act, the degree to which will be revealed in the coming months. Furthermore, with US and global credit fuelling stock prices, 2025 is looking increasingly like 1929, also confirmed by the level of lending for speculative purposes recorded by FINRA.

Private sector economies already in recession will almost certainly descend further into slump territory. The consequences for government revenues are bound to be catastrophic. Debt-to-GDP metrics for all G7 nations will go through the roof as both borrowing soars and their GDPs decline.

This brings us back to the question posed at the beginning of this article: Do you buy or sell government debt?

From our analysis of the outlook, by the end of this year, the volume of G7 government debt issuance will be rising sharply. But worse than that, the theoretical underpinnings of tax receipts are already going into reverse, meaning that government debt and its interest cost are rising at an accelerating pace while the tax revenues to fund them are contracting. It is the classic definition of debt traps.

It is small wonder that government bond yields have risen, breaking a long-term trend going back to the 1980s, the implications of which must not be ignored:

Macroeconomic analysis gets it wrong

Neo-Keynesians and monetarists believe that in a recession, prices decline as a result of falling demand. For some goods and services this may be true, but it ignores the fact that supply contracts as well. Nevertheless, these macro-economists believe that inflation will fall in these recessionary times, so that the outlook is for lower interest rates. This is an egregious error, as current inflation trends avow.

The problem is in government debt traps. Nowhere is the problem more acute than for the US and its dollars. Already, there are funding problems evident for issues with distant maturities. The Fed is planning to reduce the level of capital the large banks have to reserve in the form of the supplementary leverage ratio, so that they can expand their credit in favour of treasury bills. This is desperate stuff.

Clearly, it is perceptions of currency risk which are driving government bond yields, not assumptions that central banks continue to control interest rates and bond yields. Initially, it is a concern for foreign holders of dollars and underlying financial instruments and investments totalling some $40 trillion, one-third more than US GDP.

Those perceptions are bound to spread from foreign investors to domestic institutions, who will realise that if the Fed is forced to reduce interest rates in the event of a domestic financial and economic crisis, then the dollar will fall in its purchasing power. Central banks, predominantly in Asia, already see this probability and have been adjusting their reserves by selling fiat currencies for the safe haven of gold.

Above all, this is the end game for fiat currencies. It is not so much gold rising, but the prospects for the dollar and the entire fiat currency system deteriorating at an accelerating pace.

And as for Blackrock, Fidelity, and Schroders saying gilts are a screaming buy, I can only conclude that they are deliberately misleading us or are Keynesian fools.

Tyler Durden
Sun, 07/27/2025 – 07:00

Bovard: Waco, Epstein, & Washington’s War On Truth

Bovard: Waco, Epstein, & Washington’s War On Truth

Submitted by James Bovard

How many atrocities can the federal government get away with? Americans are still vexed by the answers that Congress failed to deliver in 1995. Thirty summers ago, Washington was fixated by a Capitol Hill showdown over the greatest federal abuse of power of the decade.

Unfortunately, trusting congressional hearings to discover the truth is like trusting a roomful of monkeys with typewriters to write great novels—it might happen, but only in an eternity. As comedian Milton Berle quipped long ago, “You can send a man to Congress but you can’t make him think.”

On February 28, 1993, scores of federal Alcohol Tobacco and Firearms (ATF) agents launched an attack on the home of the Branch Davidians. The ATF’s lead investigator had previously rejected an offer to peacefully search the Davidians’ home for firearms violations. Four ATF agents and six Davidians were killed in the fracas that day.

The FBI’s Hostage Rescue Team took over the scene and 59 days later, FBI tanks collapsed much of the Davidians’ ramshackle dwelling while heavily gassing the women, children, and men inside the building and nearby shelter. A fire erupted and 76 corpses were dug out of the rubble. The Clinton administration had begun a cover-up long before the final assault. (Check out Scott Horton’s superb thirtieth anniversary podcast series on Waco as well as plenty of zesty articles on this website.)

On the evening of the Waco fire, Attorney General Janet Reno went on Nightline and announced, “I made the decision. I’m accountable. The buck stops with me.” Reno then asserted that the fiery end was all somebody else’s fault: “I don’t think anybody has ever dealt with a David Koresh, who would purposely set people afire in that number.” Nightline host Ted Koppel asked Reno why the feds used “tanks to ram the compound down.” Reno replied, “I think that what we were trying to do was to give everybody an opportunity to come out in the most unobtrusive way possible, not with a frontal assault.” Because she had a lofty federal job title, nobody called out her “unobtrusive” 54-ton tank BS.

Snap polls just after the Waco fire showed that the American people overwhelmingly supported the FBI assault. A few days after the fire, the opening of a congressional appropriations committee hearing had to be delayed so senators could have their pictures taken with Attorney General Reno, who became a national hero for her “the buck stops with me” pretense.

Reno received a different reception from Rep. John Conyers (D-MI) when she testified at a House hearing. Reno cried when Conyers berated her for authorizing the final assault. Talk show host Rush Limbaugh, reflecting the conservative idolization of law enforcement, slammed Conyers for being disrespectful to Reno and accused him of grandstanding. Perhaps the most honest statement of congressional sentiment came from Rep. Jack Brooks (D-TX), chairman of the House Judiciary Committee. Brooks declared that the Davidians were “horrible people. Despicable people. Burning to death was too good for them.”

In November 1994, Republicans captured control of Congress. On the second anniversary of the final FBI assault at Waco, a truck bomb killed more than 170 people at a federal office building in Oklahoma City. When news of that atrocity hit, a top New York op-ed editor told his colleagues, “These are Jim Bovard’s friends!” Waco had become a rallying cry for folks who distrusted Washington, creating new pressure to expose federal wrongdoing. In a May 1995 Wall Street Journal piece headlined, “Waco Must Get a Hearing,” I warned, “The ghosts of Waco will continue to haunt the U.S. government until the truth is told about what the government did and why.” I also hammered the Waco coverup in the The New RepublicWashington Times, and other publications.

After two House committees scheduled joint hearings for July, then-Rep. Charles Schumer (D-NY) denounced holding any hearings: “It’s pandering to a paranoid fringe in America that wants to believe that Waco was a conspiracy.” Treasury Undersecretary Ron Noble warned that extremists might view the hearings “and decide to blow up some other building.” After the main hearings began, President Bill Clinton condemned them as part of a Republican “war on police,” and declared that “there is no moral equivalence between the disgusting acts which took place inside that compound in Waco and the efforts law enforcement officers made to protect the lives of innocent people.” The Treasury Department mass-faxed a letter from Secretary Robert Rubin warning journalists that federal action at Waco “cannot be understood properly outside the context of Oklahoma City.” An alleged truck bomber invoking Waco in 1995 miraculously vindicated the feds killing American citizens in 1993.

The hearings exposed how vast amounts of the key documentation and videotapes vanished in the maw of federal agencies. The ATF claimed it never had a formal, written raid plan prior to launching the largest military-style attack in the agency’s history. Apparently no ATF agents made written statements after a raid in which four ATF agents died. Rep. Henry Hyde (R-IL) observed, “It’s very unusual that nobody connected with this debacle made a written statement. I think that classifies as a unique event in the history of law enforcement.” The Treasury Department quickly recognized that ATF agents’ statements could blight or destroy any federal court case against surviving Davidians; agency bosses were paranoid of creating exculpatory evidence that would expose ATF outrages.

Congressional Democrats rushed to dehumanize the government’s victims. The toxic gas that may have killed dozens of children on April 19 was a volatile issue for the hearing. Though CS gas previously killed dozens of children in the Gaza Strip, Democrats portrayed it as innocuous as a Flintstone vitamin. Benjamin Garrett, executive director the Chemical and Biological Arms Control Institute in Alexandria, Virginia, observed that the CS gas “would have panicked the children. Their eyes would have involuntarily shut. Their skin would have been burning. They would have been gasping for air and coughing wildly. Eventually, they would have been overcome with vomiting in a final hell.” Rep. Steven Schiff (R-NM) declared that “no rational person can conclude that the use of CS gas under any circumstances against children, would do anything other than cause extreme physical problems and possibly death…I believe the deaths of dozens of men, women and children can be directly and indirectly attributable to the use of this gas in the way it was injected by the FBI.”

The confidential FBI report that Janet Reno received before approving the attack stated that the impact of the CS gas on “infants and children cannot be ignored because gas masks are not available for infants and younger children.” When Reno testified on the final day, Committee Chairman Rep. John Mica (R–FL) presented her with a gas mask to illustrate that it could not have fit children. Reno casually tossed the mask on the floor and announced that “it’s not very helpful, in terms of trying to understand what happened there, to just show gas masks. We’ve got to show the people what went into the process.” Mica told me that even if the children didn’t die directly from the CS gas, “we sure as hell tortured them for six hours before they died.” (See my 2023 photo of the vault where women and children were gassed.)

The gaudy grandeur of the House Judiciary Committee hearing room could not disguise a vast moral and mental wasteland. Most of the committee members were absent for most of the hearings. The rules seemed crafted to deter disclosing facts that would embarrass officialdom. Each congressman received only five minutes to question witnesses per round of questioning (which could last hours). Witnesses knew that the more they blathered, the less they’d need to disclose. Many Republicans groveled before the FBI officials they were supposed to be cross-examining—as if the G-men could give absolution to any politician who doubted their holy status. The typical congressman’s idea of oversight of law enforcement is to assure that he is included in photo opportunities after federal busts in his home district. “How are you so great and how can we help you?” is the usual response when the FBI director testifies on Capitol Hill, as Guardian columnist Trevor Timm noted.

The five-minute rule exemplified the pro forma pursuit of truth in Washington. Hearing co-chairman Bill McCullom (R-FL) repeatedly cut off Republican members following vital lines of questioning, rescuing one fabricating federal agent after another. At the end of the hearings, Schumer—who did everything except call for the public hanging of  the surviving Davidians—praised McCullom for his bipartisan spirit, and McCullom beamed like a cocker spaniel.

A few Republican congressmen doggedly pushed federal officials for the hard facts. But near the end of the hearings, one Republican staffer complained to me that the Republican “members were real pansies this morning” in their questioning of federal witnesses. Many Republican congressmen lacked the courage to challenge any federal agent. Few members of Congress could ask intelligent follow-ups because all they knew was the specific question or two aides had printed on a piece of paper for them to recite. Jason Whiting, press spokesman for Rep. John Shadegg (R-AZ), observed, “We didn’t really want to use any of the questions the committee prepared. Not only were the questions soft, but they weren’t well planned. There were stacks and stacks of [confidential] documents that went untouched.”

At one point during the hearings, I went to the committee’s Republican staff room to get a copy of an earlier statement from a Republican member. Sitting at the entrance desk was a twenty-something blond haired dude with a cowlick. He was swiveling in his chair and looking slightly bored yet immensely proud of his title—“legislative assistant.”

The Clinton administration had delayed turning over Waco-related records to Republicans until the week before the hearings began. Dozens of legal-type boxes were stacked on desks and on the floor.

I asked whether this was the documentation from the FBI and other agencies. The young guy nodded, glanced over his shoulder at the boxes, and lamented, “We don’t know what to do with them.”

“Have you thought about reading them?” I replied.

The staffer shrugged, sighed, and wondered how soon I would cease darkening their doorway.

Republican congressmen were shooting blanks while here was an ammo cache that could have blown half the witnesses through the roof. Unfortunately, reading is the only unnatural act on Capitol Hill. I salivated just looking at those boxes but knew I’d never be permitted to delve into this treasure trove. (The average House member spent less than twelve minutes a day reading on the job, according to an earlier congressional survey.)

I usually avoided sitting at the hearing room tables reserved for the press. Some reporters saw the hearings as an outbreak by right-wing Know-Nothings—a new McCarthyite inquisition, with Janet Reno and the FBI as victims. Some “Step ‘n Fetch It” journalists were willing to pick up and print anything that a Clinton administration official scattered at their feet.

But there were some hardline exceptions to the prevailing docility. I had lunch a time or two with Jim Pate, a reporter from North Carolina who was working as a consultant for ABC News. Pate would be summoned to testify at the Timothy McVeigh trial because McVeigh had several Soldier of Fortune magazines with Pate’s Waco articles in his car when he was arrested. I bantered several times with Mike McNulty, a gun rights zealot who was later the co-producer (along with Dan Gifford and William Gazecki) of the movie Waco: Rules of Engagement, which won an Emmy and was an Oscar finalist for best documentary.

After ten days of hearings, most of the congressmen finally recognized that the ATF and FBI were different federal agencies. But that was the limit of the learning curve for some of those politicians. The grand finale of the Waco Follies was the August 1 testimony of Janet Reno.

Republicans squandered hours trying to get Reno to admit that the FBI’s final assault was approved by the White House. The New York Times reported that Republicans “seemed to lose their focus gradually as they unsuccessfully tried to force Ms. Reno to acknowledge that she had erred.” But most Republicans did not have any focus to lose. Reno dodged key questions and used enough complete sentences to awe the Washington press corps.

Rep. Shadegg challenged Reno as to why tanks had repeatedly smashed into the compound during the final assault. Reno responded by claiming that the tanks’ entry into the building (via demolishing the walls and 25% of the compound) had merely been an “inadvertent crushing of a back support.” Shadegg burst out laughing and noted that FBI tanks had “inadvertently” smashed into the compound eight different times. The FBI plan for the tank assault specifically called for the destruction of the building—regardless of whether occupants exited. Reno’s claim that the tanks’ destruction of much of the building was “inadvertent” was either feeble perjury or gross stupidity, though it was often difficult to tell the difference with Clinton administration appointees.

Rep. Bill Zeliff (R-NH) pushed Reno on the use of 54-ton tanks to smash into a building that she knew was occupied by women and children. Zeliff asked, “When military weapons are turned on American people, who makes that decision?”

Reno replied that she didn’t consider the tanks as a military vehicle—instead, they were “like a good rent-a-car.” Her comment reflected the Clinton administration’s view that Waco was a routine law enforcement effort, except for the number of toe tags needed afterwards.

I showcased Reno’s rent-a-tank line in a Wall Street Journal piece the following day that detailed how the hearings shattered the government’s credibility on Waco. My article concluded:

“The evidence of a coverup and gross federal misconduct is far stronger in the Waco hearings than in the Whitewater investigation. The Republican leadership in Congress should seize upon the recent revelations to demand a special counsel to be appointed to investigate possible federal crimes and coverups regarding Waco.”

My article may have been the only piece in the national media that skewered Reno’s bizarre exoneration of the military assault on American citizens.   

The Clinton administration correctly predicted that House Republicans would not have the courage to have a second round of hearings to deal with questions raised or information withheld in the July hearings. White House officials ridiculed GOP congressmen as “Branch Republicans” due to their supposed failure to find a smoking gun.

In July 1996, the House Republicans released their official findings from their investigation of Waco. According to Republican congressional leaders, a key lesson of Waco was that the FBI’s Hostage Rescue Team should be expanded. Congress had already sharply increased the FBI budget.

At a sparsely-attended press conference in the House press gallery, I asked whether federal agencies had “fully opened their doors” to congressional investigators. Rep. Zeliff, the co-chairman of the committee, replied, “Not totally… We couldn’t get any information from the Department of Defense… We didn’t get all the information we were looking for” from other agencies, either. I was stunned by the Winnie the Pooh “oh bother” response to the Pentagon’s Waco stonewall. Congress controlled the Pentagon’s budget and a simple rider could have been added to an appropriations bill compelling disclosure of any Waco-related Pentagon evidence.

The Clinton administration swayed the media to portray Waco as a battle of good versus evil—with the feds as the saviors, naturally. The Clinton team pulled off that con thanks to the failure of congressional investigators to timely find and reveal evidence that would have utterly obliterated all federal credibility. Respectable opinion—at least in Washington—lapsed to pretending no Waco debacle had occurred. The Women’s Bar Association of the District of Columbia created a special award to honor the nation’s first female attorney general: the Janet Reno Torchbearer Award. The first recipient, in 1997, was Supreme Court Justice Sandra Day O’Connor; the award was presented by Justice Ruth Bader Ginsburg

Shortly after the hearings ended, former federal lawyer David Hardy began hounding ATF with Freedom of Information Act requests. In 1999, Hardy received documents revealing that nine days before the February 28, 1993 raid, ATF agents invited David Koresh to go target shooting. They had a fine time, with Koresh providing the ammo and the ATF agents allowing Koresh to fire their guns. Koresh strongly suspected the guys were undercover feds but went shooting with them anyhow. One ATF participant wrote a memo to headquarters on the shooting party and noted that “Mr. Koresh stated that he believed that every person had the right to own firearms and protect their homes.” With such crazy ideas, the feds had no choice but to destroy Koresh. If Americans had learned during the hearings that the ATF had scorned an ideal opportunity to easily arrest Koresh, ATF credibility never would have recovered.

In 1999, film maker and private investigator Mike McNulty discovered shell casings in a Texas Ranger evidence locker that proved the FBI had fired pyrotechnic grenades at the Davidians prior to the fatal fire. That discovery nuked the Clinton administration’s perpetual denials that the FBI had any role in starting the conflagration. The FBI was caught in a massive cover-up; Newsweek reported that “as many as 100 FBI agents and officials may have known about” the military-style pyrotechnic explosive devices used by the FBI at Waco.

Republican congressmen momentarily pretended to be indignant about the fresh revelations of FBI perfidy. But, a few weeks later, Rep. Mark Souder (R-IN) declared that Republicans were suffering from “Waco fatigue…There’s a feeling that the political risk may be higher than the political gain of pursuing this subject at this time.” The only “fatigue” most congressmen experienced was the nuisance of responding to constituents who believed that their representative should give a damn. The Republican leadership decided that the “risk” of pursuing more Waco disclosures outweighed the political profits—without even knowing what new investigations might discover. Besides, they were too busy with their Bill Clinton panty chases to pay attention to how American citizens were being oppressed by Washington.

I thought Waco should have been the most important education lesson of the 1990s for our nation. But the real lesson was: Truth delayed is truth defused. Congressional failures on Waco vivify the folly of expecting checks and balances in Washington to protect the Constitution.

Waco exemplified the Capitol Hill version of “Attention Deficit Democracy”—congressmen clueless and careless about the atrocities they bankrolled. That near-total default foreshadowed similar congressional pratfalls on the Iraq War, the Afghanistan War, and the bombing of Libya, Syria, Somalia, Pakistan, et.al. “Oversight” is a polite term for rote congressional procedures designed to avoid discovering embarrassing information. A senior House Republican admitted in 2004, “Our party controls the levers of government. We’re not about to go out and look beneath a bunch of rocks to cause heartburn.”

During the Joe Biden administration, congressional oversight became completely depraved. The Select Committee to investigate the January 6 [2021] Attack on the U.S. Capitol was so skewed that those members of Congress chose to destroy “evidence” they had gathered during their kangaroo court effort to vilify anyone who protested at the Capitol. The January 6 Committee was the first congressional oversight effort that required a presidential pardon to absolve everyone involved—including the committee members, all the staffers, and all the Capitol Police and DC police who testified.

The failure of congressional oversight exemplifies why “Leviathan Democracy” is a fatal contradiction in terms. Once the government becomes so vast, elected representatives become increasingly inept or unwilling to pull in the reins. Members of Congress rise to the top by championing the worst abuses that federal agencies inflict. Congressmen are proud to receive the Agency Seal Medal from the Central Intelligence Agency as a reward for covering up CIA crimes. In 2017, Georgetown University Professor P.G. Eddington, a former CIA official, lamented “the House Intelligence Committee’s slow degeneration from overseer to cheerleader of surveillance” over the previous quarter century.

If Congress ignored the federal role in killing scores of women and children, what are the chances that current members of Congress could show the courage to expose a child sex abuse scandal that could incriminate some of the nation’s biggest political donors?  Perhaps it is time for Las Vegas to offer betting odds on the triumph of decency in Washington.  

Tyler Durden
Sat, 07/26/2025 – 23:20