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The Real Russiagate Scandal Blows Away Watergate For Crimes And Treason By US Establishment

The Real Russiagate Scandal Blows Away Watergate For Crimes And Treason By US Establishment

Via SCF,

So the hoax is finally officially acknowledged. “Russiagate” – the mainstream narrative, that is – is now described by American intelligence chiefs as a fabrication that was concocted to overturn the results of the 2016 U.S. presidential elections.

Tulsi Gabbard, the current Director of National Intelligence (DNI), and CIA director John Ratcliffe have both accused former President Barack Obama of engaging in a “treasonous conspiracy” to subvert the constitutional process. It’s not just Obama who is implicated in this high crime. Other former senior officials in his 2013-17 administration, including former DNI James Clapper, CIA director John Brennan, and head of the FBI James Comey, are also implicated. If justice is permitted, the political repercussions are truly earth-shattering.

The potential impact is not confined solely to the violation of U.S. laws and the democratic process – bad enough that is. The Russiagate scandal that began in 2016 has had a lasting, damaging effect on U.S. and European relations with Russia.

The frightfully dangerous NATO proxy war incited in Ukraine, which threatens to escalate into a full-scale world war, was fueled in large part by the hostility generated from the false claims of Russian interference in the U.S. elections.

The allegations that Russian President Vladimir Putin oversaw a subversion campaign against the 2016 U.S. election and colluded with Donald Trump to get him elected were always specious. The scandal was based on shoddy intel claims to purportedly explain how Trump defeated his Democrat rival, Hillary Clinton. Subsequently, the scandal was hyped into a seemingly credible narrative by U.S. intelligence chiefs at the direction of then-President Barack Obama as a way to delegitimize Trump’s incoming first-term presidency.

Years before the recent intelligence disclosures, many independent journalists, including Aaron Maté, and former intelligence analysts like Ray MacGovern and William Binney, had cogently disproven the official Russiagate claims. Not only were these claims false, they were knowingly false. That is, lies and deliberate distortions. Russia did not hack emails belonging to the Democratic National Committee to discredit Clinton. Clinton’s corruption was exposed by a DNC internal leak to Julian Assange’s Wikileaks whistleblower site. That was partly why Assange was persecuted with years-long incarceration.

A large enough number of voters simply despised Clinton and her warmongering psychopathy, as well as her sell-out of working-class Americans for Wall Street largesse.

Furthermore, Moscow consistently denied any involvement in trying to influence the 2016 U.S. election or attempts to favor Trump. Putin has said more than once that Russia has no preference about who becomes U.S. president, implying that they’re all the same and controlled by deeper state forces. Laughably, too, while Washington accused Moscow of election interference, the actual record shows that the United States has habitually interfered in scores of foreign elections over many decades, including those of Russia. No other nation comes close to the U.S. – the self-declared “leader of the free world” – in sabotaging foreign elections.

In any case, it is instructive to compare the Russiagate farce with the Watergate scandal.

Watergate involved spying by the White House of President Richard Nixon against a Democrat rival in the 1972 election. The political crisis that ensued led to Nixon’s resignation in disgrace in 1974. The U.S. nation was shocked by the dirty tricks. Several senior White House officials were later convicted and served time in jail for crimes related to the affair. Nixon was later pardoned by his successor, Gerald Ford, and avoided prosecution. Nevertheless, Watergate indelibly disgraced U.S. politics and, at the time, was described as “the worst political scandal of the 20th century.”

Subsequent cases of corruption and malfeasance are often dubbed with the suffix “gate” in a nod to Watergate as a momentous political downfall. Hence, “Russiagate.”

There are hugely important differences, however.

While Watergate was a scandal based on factual crimes and wrongdoing, Russiagate was always a contrived propaganda deception.

The real scandal behind Russiagate was not Trump’s alleged misdeeds or those of Russia, but the criminal conspiracy by Obama and his administration to sabotage the 2016 election and subsequently to overthrow the Trump presidency and the democratic will of the American people. Tulsi Gabbard, the nation’s most senior intelligence chief, has said that this amounts to “treason,” and she has called for the prosecution of Obama and other former senior aides.

Arguably, the real Russiagate scandal is far more criminal and devastating in its political implications than Watergate. The latter involved illegal spying and dirty tricks. Whereas, Russiagate involved a president and his intelligence chiefs trying to subvert the entire democratic process. Not only that, but the U.S. mainstream media are also now exposed for perpetrating a propaganda heist on the American public. All of the major U.S. media outlets amplified the politicised intelligence orchestrated by the Obama administration, claiming that Russia interfered in the election and that Trump was a “Kremlin stooge.” The hoax became an obsession in the U.S. media for years and piled up severe damage in international relations, a nefarious legacy that we are living with today.

The New York Times and Washington Post, reputedly two of the finest exponents of American journalism, jointly won the Pulitzer Prize in 2018 for their reporting on Russiagate, the official version, that is, which lent credibility to the hoax. In light of what we know now, these newspapers should be hanging their heads in shame for running a Goebbels-like Big Lie campaign to not only deceive the U.S. public but to subvert the democratic process and poison international relations. Their reputations are shredded, as well as those of other major media outlets, including ABC, CBS, CNN, and NBC.

Ironically, The Washington Post won the Pulitzer Prize in 1973 for its reporting on the Watergate scandal. The story was made into a best-selling book, All The President’s Men, and a hit Hollywood movie starring Robert Redford and Dustin Hoffman, playing the roles of intrepid reporters Bob Woodward and Carl Bernstein. Woodward and Bernstein and The Washington Post were acclaimed as the finest in U.S. journalism for exposing Watergate and bringing a crooked president to book.

How shameful and absurd that an even greater assault on American democracy and international relations in the form of Russiagate is ignored and buried by “America’s finest”. That the scandal is ignored and buried should be of no surprise because to properly reveal it would shatter the foundations of the U.S. political establishment and the sinister role of the deep state and its mainstream media propaganda system.

Tyler Durden
Tue, 08/05/2025 – 07:45

“Difficult Quarter”: HIMS Plunges On Weak GLP-1 Sales

“Difficult Quarter”: HIMS Plunges On Weak GLP-1 Sales

Hims & Hers Health (HIMS), the telehealth platform known for selling compounded GLP-1 weight-loss drugs, tumbled in premarket trading in New York after missing Wall Street’s revenue estimates in its Monday after-hours earnings release, despite posting a profit beat. 

Despite strong year-over-year growth in revenue (+73%) and beating EPS and EBITDA estimates, HIMS fell short of revenue and subscriber projections in the second quarter, raising concerns about sustaining momentum, especially with GLP-1s accounting for about 35% of revenue and regulatory scrutiny around GLP-1 compounds mounting. 

HIMS Q2 Earnings Summary:

Revenue: $544.8M (+73% YoY) — missed estimate of $552.1M

  • GLP-1 revenue: ~$190M

EPS: $0.17 — beat estimate of $0.15 (vs. $0.06 YoY)

Adj. EBITDA: $82.2M — beat estimate of $72M (vs. $39.3M YoY)

Gross Margin: 76% — beat estimate of 75.6% (but down from 81% YoY)

Subscribers: 2.44M (+31% YoY) — missed estimate of 2.49M

Operating Expenses: $389.5M — up 59% YoY

HIMS has come under fire for continuing to sell compounded GLP-1 drugs, priced much lower than Novo Nordisk’s blockbuster weight-loss treatment, Wegovy (semaglutide). While compounding is permitted during drug shortages, the FDA declared in February that supply woes have been resolved, raising many questions about HIMS’ ongoing sales.

Just weeks ago, Novo shares crashed the most on record after the Danish pharma giant slashed its full-year sales and profit guidance, citing slumping Wegovy sales. It noted compounded GLP-1 knockoffs that continue to flood the market. 

This is key: Novo stated it’s “pursuing multiple strategies, including litigation, to protect patients from knockoff ‘semaglutide’ drugs.” And this is alarming news for HIMS. 

HIMS 3Q and full-year outlooks were mainly in line with Wall Street estimates: 

3Q Outlook Summary (vs. Estimates):

  • 3Q Outlook Summary (vs. Estimates): Revenue Guidance: $570M–$590M (Street: $584.2M) ✅ In line

  • Adj. EBITDA Guidance: $60M–$70M (Street: $76.7M) ❌ Light

Full-Year Guidance Summary (vs. Estimates):

  • Revenue: $2.3B–$2.4B (Street: $2.36B) ✅ In line

  • Adj. EBITDA: $295M–$335M (Street: $322.1M) ✅ In line Weight-Loss Revenue: At least $725M 

Commentary from Wall Street analysts includes weak sales trends for its weight-loss drugs (courtesy of Bloomberg): 

Citi (sell, PT $30)

  • Hims had a “difficult quarter” with a decline in weight-loss drug sales hitting revenue

  • “The GLP-1 decline was well-telegraphed given the end of bulk compounding; however, we were a bit surprised to see no sequential core revenue growth, which was largely driven by switching sexual health members from on-demand to daily solutions”

Jefferies (hold, PT to $51 from $50)

  • Negatives include the 2Q revenue miss, 3Q Ebitda guidance below the Street, and declining GLP-1 revenue

  • While investors are focused on topline growth and GLP trends, the 2Q Ebitda beat is a positive that management deserve credit for

Needham (hold)

  • The company is heading into 2H in “a state of transition” as it works through a wind-down in the GLP-1 revenue stream and shifts focus toward sexual health

  • Hims is simultaneously investing to launch hormonal health in 2H and expand into Canada in 2026

Shares of HIMS are down about 13% in premarket trading as of 6:45 a.m. ET, falling from Monday’s close near record highs of $63 to around $55 per share.

. . . 

Tyler Durden
Tue, 08/05/2025 – 07:20

Home-Sellers Outnumber Home-Buyers By The Most In Over A Decade

Home-Sellers Outnumber Home-Buyers By The Most In Over A Decade

Lance Lambert, co-founder and editor of ResiClub, posted on X, highlighting an ongoing and record-breaking trend in the housing market: sellers now outnumber buyers by the widest margin since Redfin data began well over a decade ago. The growing number of sellers is especially evident in the U.S. Southwest and U.S. Southeast, particularly in Texas and Florida, where the balance of power has shifted in favor of buyers. 

There are an estimated 1.92 million home sellers in the U.S. housing market and about 1.41 million homebuyers. In other words, there are 508,715 more home sellers than buyers, a massive mismatch not seen at any other point in Redfin data going back to 2013.

Lambert has come across an inflection point for the housing market: “The longer we’ve remained in this strained housing demand environment, the more the total number of U.S. active sellers is outmatching the total number of active homebuyers. Of course, there’s a WIDE variation across the country.” 

Sellers outnumber buyers for several reasons:

  • Affordability crisis.

  • Borrowing costs remain elevated. 

  • Economic uncertainty. 

Much of the supply is materializing in Sun Belt metro areas, such as Austin, Dallas, Tampa, and Nashville. Inversely, Northeast and Midwest metros like Chicago, Hartford, and Boston have seen tight supplies. 

In case you’re curious, here’s Redfin’s methodology on determining how many sellers are on the market. 

For more color on the rates market, Goldman analysts expect the interest rate-cutting cycle to begin next month:

Largely uneventful Fed meeting, Powell’s comments suggested that lowering rates soon could be reasonable but is not yet essential. Neither the statement nor the press conference provided any direct hints about the likelihood of a cut in September. In response to a question about the two-cut baseline in the June dots, Powell acknowledged but declined to endorse it. We continue to forecast three 25bp rate cuts this year in September, October, and December, followed by two more in 2026 to a terminal rate of 3–3.25%. Powell’s comments today suggest to us that a September cut is certainly still up for debate but not that labour market softening over the next two months is necessarily required, and we continue to see multiple paths to a cut.

Interest rate swaps … 

Related:

Another fun chart. Guess what’s next for homebuilder confidence… 

Will an interest rate cutting cycle be enough to cushion any landing?  

Tyler Durden
Tue, 08/05/2025 – 06:55

‘Cowardice & Dereliction Of Duty’ – Texas Governor Orders Arrest Of Fleeing Democratic Lawmakers

‘Cowardice & Dereliction Of Duty’ – Texas Governor Orders Arrest Of Fleeing Democratic Lawmakers

Update (1630ET): Promises made, promises kept…

Texas Governor Greg Abbott ordered the arrest of Democratic lawmakers who left the state to block a controversial vote on new congressional maps.

“Texas House Democrats abandoned their duty to Texans,” Abbott said in a statement Monday.

“I ordered the Texas Department of Public Safety to locate, arrest, and return to the House chamber any member who has abandoned their duty to Texans.”

Texas Attorney General Ken Paxton, who is running for the Republican nomination for US Senate, said he supported the speedy arrest of “jet-setting runaways” who left the state during the legislative session.

“This is cowardice and dereliction of duty, and they should face the full force of the law without apology,” Paxton said in a tweet.

…and cue the lawsuits.

*  *  *

Absconding to — where else — Chicago, Democratic members of the Texas House of Representatives fled the state on Sunday to break a quorum and prevent a vote on a redistricting plan that promises to boost the GOP’s share of seats in the US House of Representatives by five. In response, Gov. Greg Abbott threatened to remove them from office, replace them, and pursue felony charges against them, using extradition powers if need be. 

Texas state Rep. Jolanda “Jo” Jones (D) flips through maps during a public hearing Friday on congressional redistricting in Austin. (Eric Gay/AP)

Their choice of exile location is positively drenched in hypocrisy, as Illinois arguably has the worst gerrymandering in America — to Democrats’ benefit, of course. In 2024, Democrats won 53% of the popular vote in Illinois House races, but took 82% of the seats (14 out of 17).   

A quorum is the minimum number of lawmakers present in order to conduct legislative business – a tactic they’ve used twice before in the 22 years since Republicans have controlled all of Texas state government (efforts which ultimately failed).

The Democrats plan to stay away for two weeks to run the clock on a special legislative session called by Gov. Greg Abbott (R) in order to draw the new map. 

By state law, the Texas House can only conduct business when two-thirds of its 150 members are present, meaning at least 51 of the state’s 62 Democrats will stay away. So far, 57 have fled the state, according to State Rep. Jon Rosenthal (D), with members fleeing to Chicago, Boston and New York. All plan to remain out of the state until Aug. 19, when the special session concludes.

“Our goal right now is to kill this session,” said Rosenthal. 

Abbott said if the Democrats don’t return by 3pm on Monday, he will invoke a Texas attorney general opinion and “remove the missing Democrats from membership in the Texas House,” and then pick their successors under power granted in the state constitution. Upping the ante, Abbott said many of the fleeing Democrats may have committed felonies, as they’re soliciting donations to cover fines they face under Texas House rules — arguing that they risk bribery charges for accepting money “to assist in the violation of legislative duties.”  To bring them to justice, he said “I will use my full extradition authority to demand the return to Texas of any potential out-of-state felons.” Texas AG Ken Paxton (R), meanwhile, has threatened to arrest lawmakers who break quorum, though he won’t have jurisdiction over them outside of the state. 

Democrats dismissed the threats. “As the Texas Supreme Court has acknowledged, it is the right of legislators to deny quorum,” State Rep. Chris Turner told the Dallas Morning News. “And as Governor Abbott should know, we also have separation of powers in this country.”

“Today this corruption ends,” said state Rep. Gene Wu, chairman of the Democratic caucus in his chamber, at a Chicago presser at a county Democratic Party office attended by other Texas Democrats and Illinois Gov. JB Pritzker. 

“This is not a decision we make lightly, but it is one we make with absolute moral clarity. Governor Abbott…is using an intentionally racist map to steal the voices of millions of Black and Latino Texans, all to execute a corrupt political deal. Apathy is complicity, and we will not be complicit in the silencing of hard-working communities who have spent decades fighting for the power that Trump wants to steal.”

Wu also accused Gov. Greg Abbott of making “hostages” out of the victims of last month’s terrible floods in Kerrville, since the voting on the redistricting initiative was placed ahead of handling bills that would deliver financial aid to affected communities. The map has been swiftly advancing during the special legislative session that Abbott convened in July to handle the redistricting and flood response, among many other issues.   

That said, Wu admitted he didn’t know what Texas Democrats would do if Abbott calls another special session after this one. 

“We don’t know what the next steps are,” he said. 

Texas House Democrats are screened before boarding their flight to Chicago on Sunday (Bob Daemmrich for The Texas Tribune)

Republican leaders say the new map is a necessary correction, noting that the state’s population growth has warranted mid-decade changes. But Democrats contend the proposal is a blatant partisan power grab, part of a broader Republican effort in several states to shore up congressional majorities before what is expected to be a volatile midterm season.

Texas Republicans currently control 25 of the state’s 38 congressional seats; the new map would likely give them 30, all of which Mr. Trump carried by at least 10 percentage points in 2024. The GOP holds a narrow 219-212 majority in the U.S. House, with four vacancies, and party leaders see Texas as central to preserving their legislative agenda.

Before the map was unveiled, President Trump said he favored “a very simple redrawing” that would give Republicans more seats. “We pick up five seats [in Texas] but we have a couple other states where we’ll pick up seats also,” he said last month.

Texas state Representative Todd Hunter, a Republican and sponsor of the legislation, called the proposal “a good plan for Texas” and said, “The primary changes … are focused on five districts for partisan purposes.”

DNC Chair Ken Martin – of the party that continually floats packing the Supreme Court when they don’t get their way – said, “Republicans thought they could just rig the maps and change the rules without the American people taking notice. They were dead wrong.”

Former Attorney General Eric Holder said Sunday on ABC that Democrats might “have to do things that perhaps in the past I would not have supported” in response to the Texas plan.

“I think we need to respond in kind,” said Gov. Laura Kelly of Kansas, and chair of the Democratic Governors Association. 

The new Texas map, unveiled last week under pressure from Trump and Abbott, was approved by a legislative committee on Saturday and was expected to reach the House floor on Tuesday.

In a separate development that could have profound implications for redistricting battles across America, the US Supreme Court last week said it will consider the constitutionality of redistricting that’s intentionally aimed at creating “majority-minority districts” with the goal securing power for blacks and Hispanics. In that Louisiana case filed by self-described “non-African American voters,” claiming a violation of the Equal Protection Clause, the high court said it will examine whether that kind of redistricting violates the 14th or 15th Amendments to the US Constitution.

In April 2024, a federal panel of judges in the US District Court for the Western District of Louisiana ruled that purposefully creating a majority-black district was “an impermissible racial gerrymander in violation of the Equal Protection Clause of the Fourteenth Amendment.” The 15th Amendment bars governments from denying or abridging the right to vote based on race or color. 

Tyler Durden
Tue, 08/05/2025 – 06:15

These Are The World’s 50 Most Valuable Private Companies

These Are The World’s 50 Most Valuable Private Companies

The race to build the next generation of global giants is on.

While public markets get most of the spotlight, private companies are quietly building massive valuations and shaping the future of industries.

This visualization, via Visual Capitalist’s Marcus Lu, ranks the world’s 50 most valuable private companies in 2025, highlighting emerging powerhouses from different countries and sectors.

Data & Discussion

The data for this visualization comes from CB Insights. It ranks private companies globally by their most recent reported valuations.

Rank Company Country Valuation ($B)
1 🚀 SpaceX United States $350
2 📱 ByteDance China $300
3 🧠 OpenAI United States $300
4 💳 Stripe United States $70
5 👗 SHEIN Singapore $66
6 📊 Databricks United States $62
7 🤖 Anthropic United States $62
8 🌌 xAI United States $50
9 💱 Revolut United Kingdom $45
10 🎨 Canva Australia $32
11 🏈 Fanatics United States $31
12 🛡️ Safe Superintelligence United States $30
13 🏦 Chime United States $25
14 🎮 Epic Games United States $23
15 🧭 Miro United States $18
16 📸 Xiaohongshu China $17
17 🧾 Rippling United States $17
18 📚 Yuanfudao China $16
19 📷 DJI Innovations China $15
20 💬 Discord United States $15
21 🛍️ Gopuff United States $15
22 🥤 Yuanqi Senlin China $15
23 💸 Ripple United States $15
24 🛒 Klarna Sweden $15
25 🛰️ Anduril United States $14
26 🧪 Scale United States $14
27 🌊 OpenSea United States $13
28 ⚙️ Celonis Germany $13
29 💼 Ramp United States $13
30 ✍️ Grammarly United States $13
31 ❤️ Devoted Health United States $13
32 🌍 Deel United States $13
33 🛒 Faire United States $13
34 🏢 Brex United States $12
35 🚬 JUUL Labs United States $12
36 🪙 Bitmain Technologies China $12
37 🌱 GoodLeap United States $12
38 🧺 Xingsheng Selected China $12
39 📋 Airtable United States $12
40 🚗 ZongMu Technology China $11
41 🌐 Global Switch United Kingdom $11
42 💳 Checkout.com United Kingdom $11
43 ⚡ Bolt United States $11
44 🔮 Alchemy United States $10
45 🧬 Colossal United States $10
46 🚛 Huolala China $10
47 🧠 Thinking Machines Lab United States $10
48 👥 Gusto United States $10
49 🚘 Chehaoduo China $10
50 📞 Talkdesk United States $10

Note: Scale AI’s recent deal with Meta was not captured in the source dataset. Scale is now valued at roughly $29 billion, which would place it 14th in this ranking.

Artificial Intelligence is Taking Over

AI startups are increasingly populating the top 10, with OpenAI in third ($300 billion), Anthropic in seventh ($62 billion), and xAI in eighth ($50 billion). All three of these companies have produced some of the world’s smartest AI models in recent years.

Further down the ranking, we can identify Safe Superintelligence ($30 billion), which was created by former employees of OpenAI and Anthropic, and Scale AI, in which Meta recently acquired a 49% stake.

This deal wasn’t captured in the source dataset, but it means that Scale is now valued at $29 billion, which would bump it up to 14th place.

Finally, there are many companies that have AI applications, but not necessarily as their core product. This includes names like Databricks (a data analytics platform), Grammarly (uses generative AI to power its writing assistant), and Colossal (a de-extinction biotech company).

If you enjoyed today’s post, check out History’s Most Valuable Companies vs the Magnificent 7 on Voronoi, the new app from Visual Capitalist.

Tyler Durden
Tue, 08/05/2025 – 05:45

The Secret Payments That Keep Global Ransomware Attacks Going

The Secret Payments That Keep Global Ransomware Attacks Going

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

Cyber attacks—usually involving ransomware—are making the news almost every day, and experts say artificial intelligence (AI) is being deployed to help the attackers find their targets more quickly.

Illustration by The Epoch Times, Getty Images

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

Among the dozens of ransomware attacks in the United States in July included incidents at Susan B. Allen Memorial Hospital in Kansas, Ingram Micro, an IT company in California, and Cookeville Regional Medical Center in Tennessee.

The number of reported ransomware attacks worldwide in 2024 was 5,289, up 15 percent on the year before, according to the U.S. Office of the Director of National Intelligence.

But those figures do not include the vast majority of attacks, which were not reported, according to Andy Jenkinson, a fellow of the Cyber Theory Institute and author of the book “Stuxnet to Sunburst: 20 Years of Digital Exploitation and Cyber Warfare.”

“Ransomware is huge. Ransoms are being paid left, right, and center. There are two types of ransomware attacks: one that becomes public and one that becomes covered up,” he told The Epoch Times.

PurpleSec, a U.S. cybersecurity company, estimates that the average cost of a ransomware attack has risen since 2019 from $761,106 to $5.14 million.

Ransoms Paid in Crypto

Jenkinson said ransoms are almost always paid in Bitcoin and other cryptocurrencies, which are harder to trace than bank transfers.

Comparitech keeps a database of ransomware attacks around the world, and Jenkinson said cybercrime—including cyberscams that are carried out using stolen data—costs $32 billion a day globally.

A report last month by Sophos, based on a survey of cybersecurity leaders in 17 countries, found that nearly 50 percent of companies paid ransoms, and the median payment was $1 million.

Adnan Malik, a lawyer who is head of data protection at Barings Law in Manchester, England, told The Epoch Times that companies do not openly declare they have paid a ransom.

An image of a seized ransomware website is displayed during a Department of Justice press conference in Washington on Jan. 26, 2023. As artificial intelligence is increasingly used to support cyberattacks, some officials are seeking to curb the crime by limiting ransom payments, which they say fuel cybercrime. Kevin Dietsch/Getty Images

“They will try and brush it under the carpet. … They will try and disguise it as some other expense.”

Malik said that companies often haggled with ransomware attackers.

“Hackers will start with a very absurd amount, and it’s not uncommon for a demand in millions to be reduced to a couple of hundred thousand. It happens all the time,” he said.

James Babbage, the director general (Threats) at the UK’s National Crime Agency, told the BBC’s “Panorama” program recently that “it is the paying of ransoms which fuels this crime.”

“We would in general discourage victims from paying ransoms, but every victim needs to make their own choice,” Babbage said.

Paul Abbott was the director of a trucking company in England, KNP Logistics Group, which had to close down with the loss of 730 jobs in September 2023, as a direct result of a ransomware attack.

Abbott told The Epoch Times that a night shift worker first noticed a problem with the company’s computer systems and called in the IT support team, which initially didn’t think it was anything malicious.

He said they carried out a controlled shutdown restart and, “During the restart, they discovered a text file which was embedded into one of the servers that was a ransom note from the Akira group, and obviously the root cause of the issue became very clear at that point.”

Akira is one of the best-known ransomware groups. “It’s easy money for people that know what they’re doing,” Abbott said.

Enforcement Efforts

The British government announced on July 22 plans to ban ministries, state-owned agencies, schools, hospitals, and operators of critical national infrastructure from paying ransom demands to cyber-criminals.

Jenkinson said other issues need to be addressed first.

“Banning ransom payments without fixing the root vulnerabilities is like offering heart transplants to junk food addicts without changing their diet. The UK’s proposal risks driving cybercrime further underground while treating symptoms, not causes,” he said.

“Unless we tackle the insecure systems and poor cyber hygiene that enable these attacks, we’re applying plasters to a thousand cuts while leaving the knife untouched.”

Europol, the police force for the European Union, said it had taken part in a July 22 operation which led to the arrest, in Kyiv, Ukraine, of the alleged administrator of the XSS.is forum, which it said was one of the most influential Russian-speaking cybercrime platforms.

The alleged administrator of XSS.is, a Russian-language cybercrime forum, is arrested in Kyiv, Ukraine, on July 22, 2025. XSS, short for cross-site scripting, is a cyberattack method that injects malicious code into trusted websites to steal data or hijack user sessions. Europol

XSS, or cross-site scripting, is a common form of cyber-attack in which malicious scripts are injected into trusted websites to steal data or hijack user sessions.

Europol said the XSS forum had more than 50,000 registered users and was a “key marketplace for stolen data, hacking tools, and illicit services.”

In May last year, the U.S. State Department offered a $10 million reward for information leading to the arrest of Dmitry Khoroshev, who it said was the administrator of the LockBit ransomware group.

The State Department said LockBit had carried out attacks on more than 2,500 victims around the world, including around 1,800 in the United States, and had obtained at least $150 million in ransom payments, in the form of digital currency.

Britain’s National Crime Agency said Khoroshev was known as LockBitSupp, and “provided ransomware-as-a-service (RaaS) to a global network of hackers or ‘affiliates,’ supplying them with the tools and infrastructure to carry out attacks.”

Russian national Dmitry Khoroshev, the alleged administrator of the LockBit ransomware group, in file images. The State Department said LockBit attacked more than 2,500 victims globally—about 1,800 in the United States—and collected at least $150 million in cryptocurrency ransom payments. UK National Crime Agency

Poor Data Infrastructure

Jenkinson said false narratives suggest cybercriminals were becoming “more sophisticated” and were all based in countries such as Russia and other former Soviet republics, which were beyond the reach of the law.

Malik agrees, saying that, in reality, “The hackers are good, but some of the systems that organizations have here are very poor.”

“By and large, most organizations have very poor data infrastructure, very poor systems that allow hackers entry into their system,” he said.

Jenkinson pointed to recent attacks perpetrated by Scattered Spider, a group of U.S. and UK hackers who were believed to include a number of teenagers.

In May, one of the alleged leaders of Scattered Spider, 23-year-old Tyler Buchanan, a British national, was extradited from Spain to the United States to face charges of conspiracy to commit computer intrusion, wire fraud, and aggravated identity theft in California.

Read the rest here…

Tyler Durden
Tue, 08/05/2025 – 03:30

Russia Abandons Moratorium On Deploying Short & Medium-Range Missiles

Russia Abandons Moratorium On Deploying Short & Medium-Range Missiles

Russia on Monday made a formal declaration that it considers itself no longer bound by the terms of the 1987 Intermediate-Range Nuclear Forces (INF) Treaty with the United States.

The statement said the restrictions have “disappeared” and Russia “no longer considers itself bound” by it, according a Russian Foreign Ministry statement. The agreement banned ground-launched missiles with ranges of 500–5,500km.

However, this new declaration is largely symbolic anyway, given the INF Treaty already collapsed in 2019 when the US unilaterally withdrew while complaining of violations by Moscow. Also, Russia’s military has for years been using all kinds of missiles in Ukraine, including hypersonic weapons.

Getty Images

But Moscow all along said it was biding by the treaty’s terms, having imposed a self-moratorium. But this is no more…

“The Russian Foreign Ministry notes the disappearance of conditions for maintaining the unilateral moratorium on the deployment of similar weapons and is authorized to state that Russia no longer considers itself bound by the corresponding self-imposed restrictions previously adopted,” the statement reads.

Last week President Trump ordered two nuclear submarines to deploy “closer to Russia” – citing threatening nuclear rhetoric of former Russian president Dimitry Medvedev.

The “actions of Western countries” are creating a “direct threat” to Russian security, the ministry statement said. A few specifics instances of the US already in effect violating the treaty were highlighted: 

  • Last year the US deployed a Typhon missile launcher in the Philippines. 
  • The US Army also fired Typhon during regional joint exercises with Australia.
  • The Australian Army has  an American Precision Strike Missile (PrSM), in July, and it has a maximum range beyond 500km
  • There’s been recent US missile activity in Denmark

Russian officials have long warned of an arms race being set off, harming global stability and security, if the US were to withdraw; but it fell on deaf ears and there’s merely one landmark treaty left between the superpowers: New START, which regulates nuclear weapons, and has to be renewed.

President Trump has recently expressed hope that New START treaty can be renegotiated and extended. At the moment, both sides seem open to this, and talks could start soon.

Amid all the latest nuclear-related rhetoric, more arrows from Medvedev…

Tyler Durden
Tue, 08/05/2025 – 02:45

EU Court Rulings ‘Castrate’ Nations’ Asylum Control, Warns Top German Expert

EU Court Rulings ‘Castrate’ Nations’ Asylum Control, Warns Top German Expert

Authored by Thomas Brooke via Remix News,

The European Court of Justice (ECJ) has carried out a “migration policy castration of the EU member states,” German constitutional lawyer Prof. Markus C. Kerber warned following a landmark asylum ruling that critics say strips national governments of the ability to manage their own borders.

The ruling, handed down in Luxembourg on Friday, states that a third country may only be designated as a “safe country of origin” if it offers effective protection to all population groups — and that this designation must be based on transparent, public information accessible to asylum seekers and the courts. Otherwise, fast-track returns are invalid.

The judgment has major implications for national migration policies, particularly in countries like Italy and Austria that have drawn up their own lists of safe third countries. In the specific case reviewed, two Bangladeshi migrants had been transferred to Albania under Italy’s agreement to process asylum claims outside the EU. Their claims were dismissed on the grounds that Bangladesh was safe, but the Italian law did not cite any sources, which the European Court ruled was a violation of EU law.

Prof. Kerber, a Berlin-based constitutional expert, accused the Court of overreach.

“The strengthening of the judiciary by the ECJ for all cases of reviewing asylum applications leads to the castration of EU member states’ migration policy,” he said in an interview with Austrian media outlet, exxpress.

“The public will increasingly perceive the EU as an entity acting against its own citizens.”

He warned that the court was imposing an “overly bureaucratized procedure” that would make meaningful control over migration impossible. “Social systems are bursting,” Kerber said. “And the willingness of the majority of society to accept refugees is declining drastically.”

“What will happen if suddenly 3 million people from an unsafe country of origin appear at our border? Should we then accept them all?” he asked.

Kerber is a constitutional lawyer and professor of public finance and political economy at the Technical University of Berlin. He also serves as a visiting professor at Sciences Po in Paris and has been involved in several high-profile legal cases, including a 2008 challenge to the Lisbon Treaty before Germany’s Constitutional Court. He is the founder of the Berlin-based think tank Europolis, which advocates for market-based reforms within the European Union.

The Court’s ruling is also likely to undermine similar policies elsewhere in Europe. Austria’s safe country list includes nations such as Algeria, Morocco, Ghana, and Serbia, but legal experts warn these could now be challenged if minorities within those countries are found to be at risk. Going forward, all such designations must be based on current, verifiable, and publicly available data.

Andreas Rosenfelder, editor at Welt, called the ruling an act of “do-gooder justice” that sacrifices the rights of EU citizens in the name of universal morality. “This moralized judiciary would rather negotiate the injustices of the world than defend its own population,” he wrote. “If this impression continues to harden, then the citizens will choose a different Europe with a different judiciary.”

Responding to Friday’s ruling, Italian Prime Minister Giorgia Meloni expressed her outrage at the latest example of a supranational judiciary meddling in the domestic affairs of a member state.

Posting on social media, Meloni wrote, “The decision of the EU Court of Justice regarding the safe countries of origin for illegal migrants is surprising. Once again, the judiciary, this time at the European level, claims spaces that do not belong to it.

“This is a development that should concern everyone, including the political forces that today celebrate the ruling, because it further reduces the already limited margins of autonomy for governments and parliaments in shaping the normative and administrative direction of the migration phenomenon.

“The Court’s decision weakens policies aimed at countering mass illegal immigration and defending national borders. The Italian Government, for the 10 months remaining until the EU migration pact takes effect, will not cease to seek every possible solution, technical or normative, to protect the safety of citizens.”

Deputy Prime Minister Matteo Salvini called the ruling “another slap in the face to our country’s national sovereignty, yet another incentive for limitless landings, yet another confirmation not only of the uselessness but also of the harmfulness of European institutions of this kind, which are paid for by Italian citizens who, however, are constantly humiliated.”

Read more here…

Tyler Durden
Tue, 08/05/2025 – 02:00

The Whopping Lie Behind Huge, New Pension Liability Imposed By Springfield On Chicago

The Whopping Lie Behind Huge, New Pension Liability Imposed By Springfield On Chicago

By Mark Glennon of Wirepoints

Which is worse, financial malfeasance or a flagrant lie to justify it?  Take your pick. Both are nothing short of astonishing when it comes to Gov. JB Pritzker’s signature Friday on a bill hiking benefits for two of Chicago’s pensions that already had been bled nearly dry.

A City of Chicago actuarial analysis of the bill says the change “would increase the city’s pension liabilities by more than $11 billion across the Police and Fire funds,” the Chicago Tribune reported, while dropping the funding levels of both down to less than 18%.

Those funds were already desperately underfunded, having had only 25% of the money necessary to pay out pension benefits for work already performed. They have the lowest funded ratios for local pension plans in the country.

They are so poorly funded that their combined unfunded liabilities are larger than 43 states — including New York, Michigan, and Florida, according to a recent study. If Chicago does nothing and lets its pension problem continue, then “Chicago becoming the next Detroit is not just a possibility — it’s inevitable.” That’s from an op-ed last week by a former chief financial officer of the city.

So, what does the state, which makes the law for city pensions, do about it? It expanded benefits while providing no funding source. Next year alone, Chicago will have to come up with an extra $60 million on its $1.5 billion pension tab in 2027, and that increase will grow to more than $753 million for 2055. That’s according to the city’s actuarial analysis, but the state didn’t even bother do its own actuarial analysis on the cost.

What possible excuse does the state have for the new law?

According to the bill’s sponsor and Pritzker, the benefit spike was needed to bring the city’s Tier 2 pensions into compliance with federal law that essentially requires benefits at least equal to what Social Security provides. Sen. Robert Martwick (D-Chicago) was the sponsor, and that claim of his was echoed by Pritzker when he signed the bill.

Gov. JB Pritzker and Sen. Robert Martwick

Here is what Pritzker’s spokesman said: “The legislation codifies adjustments the city of Chicago has been implementing over the years to tackle pension system challenges and represents a proactive step to prevent more significant financial or legal issues in the future.”

That’s unquestionably a reference to the alleged Tier 2 problem under federal law.

But it’s a big, fat lie to claim the pension spike was required by federal law. The supposed federal problem is just a subterfuge for another benefit increase.

Not one Illinois Tier 2 state or local pensioner has ever been identified whose benefits are too low under federal law. The problem has turned out to be a theoretical one that might arise in the future, but requires no action today beyond a minor, inexpensive safeguard.

That far less expensive alternative was already blessed by the state for its own pensions, which are much bigger than Chicago’s. In recent legislation the state authorized a $75 million reserve fund to cover any additional benefits that might be required for particular pensioners if their benefits ever fell short of federal requirements. Common sense prevailed, for once, as we wrote about that measure. We’ve long been calling for that measure or something similar, with articles here, here, here, here and here.

The availability of that far cheaper alternative is one reason why every major independent voice outside of Springfield said Pritzker should have vetoed the new law. The Civic Federation, Commercial Club, Better Government Association, Chicago Tribune editorial board all wanted a veto. Even Democratic Comptroller Susanna Mendoza criticized it, and  Chicago Chief Financial Officer Jill Jaworski said, “This is adding to the city’s burden at literally the worst possible time,” and she called the bill an unfunded mandate foisted on the city by state lawmakers.

That’s exactly what it is – an unfunded mandate foisted on the city.

In fairness, another rationale offered by the bill’s supporters is that it will set level benefits for the two Chicago pensions with other police and fire pensions downstate.

Yes, ideally, consistency would be nice, but that’s a luxury Chicago simply cannot afford. Somebody apparently needs a lecture on what “you have no money” means. For that, I have a suggestion. Pritzker and our lawmakers should be forced to watch this wonderful clip of a financial advisor trying to explain it to Walter Matthau’s character in A New Leaf. Like Pritzker, that character is a trust fund recipient.

Gov. Pritzker and you other lawmakers, please watch it closely. Maybe you’ll eventually get it.

Tyler Durden
Mon, 08/04/2025 – 23:25

DOJ To Present Russiagate Hoax To A Grand Jury For Criminal Charges

DOJ To Present Russiagate Hoax To A Grand Jury For Criminal Charges

Via Headline USA,

Attorney General Pam Bondi has directed that the Justice Department move forward with a probe into the origins of the Trump-Russia investigation, following the recent release of documents about collusion between the Obama administration and the 2016 Hillary Clinton campaign.

Bondi has directed a prosecutor to present evidence to a grand jury after referrals from the Trump administration’s top intelligence official, a person familiar with the matter said Monday.

Fox News first reported the development.

It was not clear which former officials might be the target of any grand jury activity, where the grand jury that might ultimately hear evidence will be located or which prosecutors — whether career employees or political appointees — might be involved in pursuing the investigation.

It was also not clear what precise claims of misconduct Trump administration officials believe could form the basis of criminal charges, which a grand jury would have to sign off on for an indictment to be issued.

In one batch of documents released last month, Gabbard disclosed emails showing that senior Obama administration officials were aware in 2016 that Russians had not hacked state election systems to manipulate the votes in Trump’s favor.

Sen. Chuck Grassley, the Republican chairman of the Senate Judiciary Committee, also released a set of emails last week. 

The emails were part of a classified annex of a report issued in 2023 by John Durham, the special counsel who was appointed during the first Trump administration to hunt for any government misconduct during the Russia investigation.

According to the annex, an FBI informer identified as “TI” provided the bureau in 2016 with two intelligence reports, which described “confidential conversations” between then-Democratic National Committee Chair Debbie Wasserman Schultz and two people at the George Soros-funded Open Society Foundation: Leonard Bernardo and Jeffrey Goldstein.

The report said that then-President Barack Obama didn’t want Hillary’s scandal to taint his legacy.

Accordingly, “To solve the problem, the President puts pressure on FBI Director James Comey through Attorney General Lynch, however, so far without concrete results.”

The same report also said that Comey favored Republicans, and that the FBI didn’t have any evidence against Clinton—because she deleted her emails.

While the FBI informant’s intelligence wasn’t corroborated at the time, the FBI indeed closed its investigation into Clinton without recommending charges.

Republicans have particularly focused on a July 27, 2016, email in Durham’s newly declassified annex that claimed that Hillary Clinton had approved a plan during the heat of the campaign to link Trump with Russia.

Durham’s own report took pain to note that investigators had not corroborated the communications as authentic and said the best assessment was that the message was “a composites of several emails” the Russians had obtained from hacking.

Tyler Durden
Mon, 08/04/2025 – 23:00