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Texas Floods Kill 50; Search Ongoing For Dozens Of Missing Campers

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Texas Floods Kill 50; Search Ongoing For Dozens Of Missing Campers

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Update (Sunday Morning): 

Search and rescue operations continued into the early hours of Sunday morning as officials in Central Texas confirmed the death toll has now exceeded 50. The urgent search remains focused on 27 missing children from Camp Mystic, a Christian all-girls summer camp in Kerr County, after flash floods from the Guadalupe River tore through the area days ago.

Texas Governor Greg Abbott described the devastation at Camp Mystic as “horrendously ravaged in ways unlike I’ve seen in any natural disaster.” Among the confirmed deaths are at least 15 children.

Gov. Abbott vowed to continue the rescue efforts, stating, “We won’t stop until we find every girl who was in those cabins.”

So far, more than 850 people have been rescued across Kerr County in a massive, coordinated operation involving a fleet of helicopters, 37 boats, 158 off-road vehicles, 10 search and rescue teams, 16 drones, and specialized rescue swimmers.

President Donald Trump has agreed to honor a federal disaster declaration requested by Gov. Abbott—despite having denied similar requests earlier this year.

Homeland Security Secretary Kristi Noem emphasized the urgent need for federal support in Kerr County and defended the government’s response, including the role played by the National Weather Service.

Separately, online speculation about possible weather modification programs operating in the region has continued to spread (see early update).

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Update (1926ET)

At least 43 people, including 15 children, have died after devastating flash floods ripped through a Christian camp along the banks of the Guadalupe River in Central Texas, according to Sheriff Larry Leitha. 

Search and rescue operations intensified Saturday afternoon, as 27 girls remain missing after floodwaters devastated Camp Mystic in Kerr County. Officials earlier acknowledged the diminishing likelihood of finding the missing alive.

“The process is going to keep going,” W. Nim Kidd, the chief of the Texas Division of Emergency Management, told reporters earlier, adding, “We’re not going to stop until we find everyone that’s missing.”

Texas Governor Greg Abbott told reporters that more than 850 people were rescued in the first 36 hours of the search operation.

The three-day rainfall totals in the region are equivalent to those typically seen in a once-in-a-century

Homeland Security Secretary Kristi Noem said earlier that President Trump is “devastated” by the flash floods, adding that the federal government is shifting air assets to the region to help with rescue operations.

Before this tragic extreme event, the Texas Department of Licensing and Regulation displayed a “Map of Rain-Enhancement Projects in Texas” that shows multiple projects near Kerr County.

A theory suggesting cloud seeding may have played a role in the Texas storm has gone viral on X

Meanwhile, critics dismiss the claim, calling it “absolutely preposterous.”

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At least 24 people have died, and dozens remain missing after 1.8 trillion gallons of rain fell across Central Texas, unleashing catastrophic flooding in the Texas Hill Country and the Edwards Plateau early Friday.

Among the missing are between 23 and 25 girls from an all-girls summer camp along the Guadalupe River, officials told reporters late Friday. Earlier, officials reported that 23 girls were unaccounted for from Camp Mystic, which had more than 750 children at the time. 

“The flooding damage is catastrophic,” Kerrville Police Officer Jonathan Lamb told The Washington Post, adding, “It’s the worst flood that we’ve ever seen.“

The Guadalupe River surged 26 feet in 45 minutes, according to Lieutenant Governor Dan Patrick. The National Weather Service had forecasted 3 to 6 inches in the region in just a few short hours, but totals exceeded that, especially in Hunt, a town near Kerrville, which received about 6.5 inches. This event is being considered a one-in-100-years rainfall event. 

“We remain in a search-and-rescue posture right now,” Governor Greg Abbott told reporters overnight. He signed a disaster declaration for several counties that paved the way for better access to aid and resources amid a massive search and rescue operation underway.

Patrick said 400 to 500 personnel were on the ground involved in search and rescue efforts. He added that helicopters and drones have been deployed to the area.

“Multiple helicopters are performing search & rescue. President Trump committed ANYTHING Texas needs,” Sen. Ted Cruz wrote on X. 

Late Friday, President Trump told reporters on Air Force One that his administration is working with Abbott on the response effort. “We’ll take care of them,” the president said, calling the catastrophic flooding event terrible and shocking. 

Tyler Durden
Sun, 07/06/2025 – 09:18

Which Countries Invest In The US The Most?

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Which Countries Invest In The US The Most?

Foreign direct investment flows have steadily climbed in recent years, fueled by the expansion of multinational companies.

A growing share of that capital is now concentrated in a small number of economies, including the United States.

This graphic, via Visual Capitalist’s Kayla Zhu, visualizes foreign direct investment (FDI) into the U.S. by country or region of origin in 2023.

Data comes from Citigroup.

Which Countries are Investing in the U.S?

Below, we show 2023 FDI inflows into the U.S. by country or region.

The U.S. attracted $311 billion in foreign direct investment in 2023, making it the top global recipient by far.

According to Citi, the U.S. saw a growth of 13% between 2023 and 2024 while most other regions saw declines. The U.S. also recorded the highest growth in greenfield projects, including Taiwan Semiconductor Manufacturing Company’s $65 billion investment into constructing a new chip plant with three fabs in Arizona.

The European Union accounted for the largest share of FDI into the U.S. at $140 billion, or 45% of the total.

European companies like Volkswagen have long invested heavily into the U.S., including Volkswagen’s recent investment of around $800 million to electrify its Tennessee assembly plant.

Japan, Canada, and the United Kingdom were also major investors, each contributing over $35 billion in FDI.

The U.S. has consistently ranked among the top recipients of global FDI in the past decade alongside China

To learn about the global FDI landscape, check out this graphic that visualizes the decline of FDI into China.

Tyler Durden
Sun, 07/06/2025 – 08:45

Kazakhstan Plans To Establish Bitcoin And Crypto Reserve

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Kazakhstan Plans To Establish Bitcoin And Crypto Reserve

Authored by Vivek Sen via BitcoinMagazine.com,

Kazakhstan’s National Bank has announced plans to establish a state Bitcoin and crypto reserve, marking a significant shift in the country’s approach to Bitcoin amid growing institutional adoption of crypto.

According to statements from National Bank Chair Timur Suleimenov, the bank is developing a comprehensive framework for the formation and management of Bitcoin and crypto reserves through a specialized subsidiary focused on alternative investments.

The acceleration of corporate and sovereign crypto adoption has been remarkable. From Strategy’s 597,325 BTC holdings to Ukraine’s recent Bitcoin reserve legislation, we see unprecedented institutional interest across corporate and government sectors.

The initiative comes as Kazakhstan, one of the world’s leading Bitcoin mining hubs, seeks to diversify its financial reserves and reduce dependence on traditional currencies. The proposed reserve could include confiscated Bitcoin and crypto-assets and crypto mined by state-affiliated operations.

The National Bank is working with lawmakers to establish necessary legal frameworks, including defining the reserve’s status and procedures for deposits and usage. The initiative aligns with broader efforts to regulate Kazakhstan’s Bitcoin and crypto market.

Following the recent establishment of strategic Bitcoin reserves by the USA and Pakistan, Kazakhstan’s move reflects the growing recognition of Bitcoin as a strategic reserve asset.

At press time, Bitcoin trades at $107,822, down 0.3% over the past 24 hours, as markets process the implications of expanding institutional and sovereign adoption.

Tyler Durden
Sun, 07/06/2025 – 08:10

Jaguar Sales Plummet By 97.5% After Awful They/Them Rebrand

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Jaguar Sales Plummet By 97.5% After Awful They/Them Rebrand

Authored by Steve Watson via Modernity.news,

Yet another stunning example of ‘go woke, go broke’ has come to pass after high end car brand Jaguar has seen vehicle sales fall off a cliff following a mind blowingly stupid non-binary rebrand.

Sales in Europe dropped by a whoppping 97.5 percent year-over-year in April 2025,  figures from the European Automobile Manufacturers’ Association (AECA) reveal.

Jaguar sold just just 49 cars in April 2025 compared to almost 2,000 in April 2024. Year-to-date sales from January to April have also plunged by more than three quarters with just 2,665 vehicles sold.

Around the world, Jaguar sold under 27,000 vehicles for the 2024/25 financial year, 85 percent fewer than just six years prior.

It’s the most catastrophic decline in the history of the company, and it comes as a surprise to absolutely nobody.

The company had a glorious history of producing sleek and iconic cars associated with James Bond and Steve McQueen, yet the handed their branding over to an LGBTQ activist who decimated it by ditching the classic big cat logo and designing a car that looks like a big pink cardboard box.

Worse still, they announced this rebrand with a commercial featuring cross dressers that look like they belong on the set of Dune.

The stock price of the company instantly sank.

Formula One racing legend Johnny Herbert commented on Jaguar’s bizarre rebranding of itself into some sort of LGBTQ activist campaign, calling it ‘confusing’ and revealing that no one he’s spoken to in the auto world understands what the company is doing.

“I would say the biggest problem is the Jaguar product. It is not selling,” Herbert added, further noting that “To take the cat off Jaguar just seems the most unbelievable marketing decision I think I have ever seen.”

Following the immediate backlash, the new weirdos at Jaguar declared “you’ll soon see things our way.”

Jaguar is insisting that the collapse in sales has nothing to do with the rebrand, claiming that “Comparing Jaguar sales to 2024 is pointless as we are no longer producing vehicles in 2025 with low levels of retail inventory available. Jaguar’s rebranding is not related to a sales decline.”

“A spokeswoman said: ‘”Jaguar’s transformation towards a new portfolio of pure-electric vehicles was announced as part of the Reimagine strategy in 2021. JLR always envisaged a period when the current range would ‘no longer be on sale’ before the introduction of the new Jaguar collection,” the company further declared.

Rest assured, no one is buying this car.

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, 07/06/2025 – 07:00

France’s Fiscal Reckoning: Is The Eurozone’s Second Giant Next In Line?

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France’s Fiscal Reckoning: Is The Eurozone’s Second Giant Next In Line?

Submitted by Thomas Kolbe 

France is caught in a debt spiral. Now the president of the French Court of Auditors is warning of the consequences of political inaction.

Pierre Moscovici has served as president of the French Court of Auditors for five years, overseeing regular audits of the nation’s public finances. From 2012 to 2014, he was France’s finance minister and then spent five years as EU Commissioner for Economic and Financial Affairs, Taxation and Customs. The man knows his way around empty coffers.

On Wednesday, Moscovici called on Prime Minister François Bayrou to take urgent steps to consolidate public finances. France’s budgetary situation, he said, has spun out of control, especially in 2023 and 2024. If a turnaround is not achieved soon, the capital markets will force one. “We can still act voluntarily,” he warned the government, “but tomorrow, the markets may impose austerity.”

For Now, Calm in the Bond Markets

Once the dominoes start falling, it goes fast. Investors dump French government bonds en masse. Yields spike, prices plummet, and refinancing the country’s massive debt becomes even more costly. Already, interest payments consume 10.6% of France’s state budget—roughly the same as education spending. As debt levels rise, fiscal maneuvering space shrinks.

With sovereign debt at 114% of GDP, the trap could snap shut unexpectedly. For now, European officials still point fingers at the U.S., whose debt ratios are similar. But no one can say how long that deflection tactic will work. Credit risk materializes suddenly—usually without warning.

Point of No Return

What we do know is this: historically, a debt ratio above 100% of GDP is already considered critical. At that point, even ambitious reform efforts are rarely enough to grow out of the mess. And unless the indebted country happens to issue the world’s reserve currency, capital markets will deliver their verdict—as we saw during the Eurozone debt crisis fifteen years ago.

What follows is familiar: central bank intervention to keep government finances liquid by running the printing presses—transferring the bill to citizens through inflation.

France has never been known for fiscal conservatism. Years of political stalemate, shifting majorities, and unstable coalitions have pushed annual deficits far beyond the Maastricht 3% threshold. In 2024, the deficit reached 5.8% of GDP. Even with early consolidation steps, it is expected to remain at 5.5% this year—far above the target.

No Economic Comeback in Sight

If French policymakers are banking on a comeback in economic growth, they may be disappointed. In May, the Purchasing Managers’ Index (PMI) for manufacturing came in at 48.1 and for services at 49.6—both in contraction territory. PMIs reflect business sentiment, with readings above 50 indicating growth and below 50 signaling decline. They are considered early indicators of economic and industrial trends.

In other words: despite—or perhaps because of—massive government spending, the French economy is stuck in recession.

Contagion Risk

France’s brewing fiscal crisis is more than a national tragedy. Alongside Germany and Italy, France is under close scrutiny from analysts and investors worldwide. Can Paris pull off fiscal consolidation? Confidence in France’s creditworthiness has been shaky for years. In 2023, Moody’s was the last major rating agency to downgrade France’s AAA status, assigning a negative outlook.

If capital markets further downgrade French debt, the consequences would spill across the Eurozone. Here, the old rule applies: hang together, or hang separately. Bond markets tend to move from one weak link to the next, rigorously reassessing creditworthiness in crisis situations. Those who falter pay higher interest—or lose market access altogether. Moscovici knows this.

The pressure is mounting on national governments: either push through tough budget reforms or increase the tax burden on citizens.

The French Exception

France is a special case. With a government spending ratio of 57.3% of GDP, it ranks among the top welfare states in the world. Accordingly, the overall tax burden has risen to 45.6%—well above the EU average of around 40%. Citizens are already surrendering nearly half their income to maintain Paris’s welfare illusions.

Social peace is being purchased with money that no longer exists—financed by debt and propped up by the illusion of fiscal sovereignty. When even the nation’s top auditor demands consolidation, one thing is clear: it’s about to get serious. The social budget—the bedrock of the political quiet pact keeping unrest in the banlieues at bay—is at stake.

History teaches us: when governments cut social programs in France, social peace crumbles. Then the suburbs—from Paris to Marseille to Lyon—go up in flames.

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About Thomas Kolbe: for over 25 years, he has worked as a journalist and media producer for clients from various industries and business associations. As a publicist, he focuses on economic processes and observes geopolitical events from the perspective of the capital markets. His publications follow a philosophy that focuses on the individual and their right to self-determination.

Tyler Durden
Sun, 07/06/2025 – 07:00

US Support For Israel Comes At A Staggering, Multifaceted Price

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US Support For Israel Comes At A Staggering, Multifaceted Price

Via Brian McGlinchey via Stark Realities

When asked about the cost of their government’s support of the State of Israel, some Americans will say it’s $3.8 billion a year — the amount of annual military aid the United States is committed to under its current, 10-year “memorandum of understanding” with Israel. However, that answer massively understates the true cost of the relationship, not only because it doesn’t capture various, vast expenditures springing from it, but even more so because the relationship’s steepest costs can’t be measured in dollars.

Since its 1948 founding, Israel has been far and away the largest recipient of American foreign assistance. Though the Ukraine war created a brief anomaly, Israel generally tops the list every year, despite the fact that Israel is among the world’s richest countries — ranked three spots below the UK and two spots above Japan in per capita GDP. Driving that point home, even when using the grossly-understating $3.8 billion figure for US expenditures on Israel, America gave the Zionist state $404 per person in the 2023 fiscal year, compared to just $15 per person for Ethiopia, one of the poorest countries on Earth and America’s third-largest beneficiary that year.

Source: Council on Foreign Relations

Israel’s cumulative post-World War II haul has been nearly double that of runner-up Egypt. What most Americans don’t realize, however, is that much of Egypt’s take — $1.4 billion in 2023 — should be chalked up to Israel too, because of ongoing US aid commitments rising from the 1978 Camp David Accords that brokered peace between Egypt and Israel. The same can be said for Jordan — America’s fourth-largest beneficiary in fiscal 2023 at $1.7 billion. US aid to the kingdom surged after it signed its own 1994 treaty with Israel, and a wedge of Jordan’s aid is intended to address the country’s large refugee population, comprising not only Palestinians displaced by Israel’s creation, but also masses who’ve fled US-led regime-change wars pursued on Israel’s behalf.

Then there’s the supplemental aid to Israel that Congress periodically authorizes on top of the memorandum of understanding (MOU) commitment. Since the October 7 Hamas invasion of Israel, these supplements have exceeded the MOU commitment by leaps and bounds. In just the first year of the war in Gaza, Congress and President Biden approved an additional $14.1 billion in “emergency” military aid to Israel, bringing the total for that year to $17.9 billion.

One must also consider the fact that, given the US government runs perpetual deficits that now easily exceed $1 trillion, every marginal expenditure, including aid to Israel, is financed with debt that bears an interest expense, increasing Americans’ tax-and-inflation burden.

On top of money given to Israel, the US government spends huge sums on activities either meant to benefit Israel or that spring from Israel’s actions. For example, during just the first year of Israel’s post-Oct 7 war in Gaza, increased US Navy offensive and defensive operations in the Middle East theater cost America an estimated $4.86 billion.

Those Gaza-war-related outflows have not only continued but accelerated. For example, earlier this year, the Pentagon engaged in an intense campaign against Yemen’s Houthis. In proclaimed retaliation for Israel’s systematic destruction of Gaza, the Houthis have targeted Israel, and ships the Houthis said were linked to Israel. In response, America unleashed “Operation Rough Rider,” which often saw $2 million American missiles being used against $10,000 Houthi drones, and cost between one and two billion dollars.

President Trump’s military strikes on Iranian nuclear facilities — amid a war initiated by Israel on contrived premises — cost America another one to two billion dollars, according to early estimates. Even before the attack on a nuclear program the US intelligence community continues to assess is not aimed at producing a weapon, the Pentagon was already spending more money on Israel’s behalf, helping to defend the country from Iran’s response to Israel’s unprovoked aggression. The run-up to US strikes itself entailed a massive and costly mobilization of American forces and equipment to the region, as the Pentagon readied for multiple scenarios.

Propelled by Israel’s powerful US-based lobby, by Israel-pandering legislators, and by a revolving cast of Israel-favoring presidents, cabinet members, and national security officials, the United States has consistently pursued policies in the Middle East that place top priority on securing Israel’s regional supremacy.

Among the many avenues used to pursue that goal, none has been more costly than that of regime change, where an outcome that results in a shattered, chaotic state is seemingly just as pleasing to Israel and its American collaborators as one that spawns a functioning state with an Israel-accommodating government — and where the cost is often measured not only in US dollars but in American lives and limbs.

A Marine weeps at a 2005 memorial service in Iraq honoring 31 comrades killed in a single day (Anja Nedringhaus/AP)

Of course, the most infamous such regime-change effort was the US-led invasion of Iraq in 2003. “If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region,” current Israeli Prime Minister Benjamin Netanyahu assured a US congressional hearing. Doing his part to aid a Bush administration dominated by Israel-aligned neoconservatives bent on taking out one of Israel’s regional adversaries, Netanyahu also said there was “no question whatsoever” that Hussein was “hell-bent on achieving atomic bombs.”

The drive to topple Syria’s Iran-allied Assad government is another prominent example of regime change on behalf of Israel, as the two countries sought to sever the “Shia Crescent” that — due in great part to Saddam’s ouster — presented a continuous pipeline of Iranian influence extending to Israel’s borders. To the contentment of the US and Israeli governments, Syria is now led by an al Qaeda alumnus who’s reportedly poised to relinquish Syria’s long-standing claim on the Golan Heights, which Israel captured in 1967.

Taken together, the price tag of US military operations in Iraq and Syria, including past and future medical and disability care for veterans, totals $2.9 trillion, according to Brown University’s Costs of War Project. The human toll has been even more mind-boggling: upwards of 580,000 civilians and combatants killed, with perhaps two to four times that number indirectly perishing from displacement, disease and other factors. More than 4,600 US service-members died in Iraq, and 32,000 were injured, many of them enduring amputations and burns. Alongside mass suffering, these and other US interventions undertaken to ensure Israel’s regional supremacy have fomented enormous resentment of the United States across the region.

Infantryman Brendan Marrocco lost all four limbs in a 2009 roadside bomb explosion in Iraq (Ruth Fremson for the New York Times via NBC News)

Those resentments help drive another massive debit in the Israel’s account with the United States: Any thorough assessment of the costs of the relationship must reflect the fact that US backing of Israel is a principal motivator of Islamist terrorism directed against Americans, and there’s no greater example of that fact than 9/11.

From Osama bin Laden to the hijackers, anger over US support of Israel was one of Al Qaeda’s foremost motivators:

  • In his 1996 declaration of war against the United States, bin Laden cited the First Qana Massacre, in which Israel killed 106 Lebanese civilians who sought refuge at a UN compound. He said Muslim youth “hold [the United States] responsible for all the killings…carried out by your Zionist brothers in Lebanon; you openly supplied them with arms and finance.”

  • Bin Laden said he was initially inspired to strike American skyscrapers when he witnessed Israel’s 1982 destruction of apartment towers in Lebanon.

  • The 9/11 Commission said mastermind Khalid Sheikh Mohammed’s “animus toward the United States stemmed not from his experiences there as a student, but rather from his violent disagreement with U.S. foreign policy favoring Israel.”

  • 9/11 hijacking ringleader Mohammed Atta signed his will on the day Israel began its 1996 Operation Grapes of Wrath attack on Lebanon. A friend said Atta was furious and used his will as a means of committing his life to the cause.

  • An acquaintance of hijacker-pilot Marwan al-Shehhi asked why neither he nor Atta ever laughed. He replied, “How can you laugh when people are dying in Palestine?”

  • Addressing the motives of the 9/11 hijackers, FBI Special Agent James Fitzgerald told the 9/11 Commission, “I believe they feel a sense of outrage against the United States. They identify with the Palestinian problem…and I believe they tend to focus their anger on the United States.”

The 9/11 attacks killed 2,977 people, resulted in roughly $50 billion in insured losses, and opened America’s Global War on Terror. In addition to its use as a false pretext for invading Iraq on Israel’s behalf, 9/11 prompted the US invasion of Afghanistan and the ensuing 20-year Fool’s Errand that took the lives of 2,459 US service-members (among 176,000 people in all), and cost $2.3 trillion.

With dread, we must now wonder what price may be extracted by terrorists motivated by US support of Israel’s ongoing, bloody rampage in Gaza, which has killed more than 56,000 people — more than half of them women and children — and deliberately rendered much of the territory uninhabitable.

The death and destruction is being meted out with American-supplied weapons, from F-15s, F-16s, and F-35 fighters to Apache attack helicopters, precision-guided munitions, artillery shells and rifles. No weapon has figured more heavily in the shocking civilian death toll and catastrophic physical destruction than US-supplied 2,000-pound MK-84 bombs, which have a lethal radius up to 1,198 feet. Even after outside observers were taken aback by Israel’s use of the bombs in densely-populated areas, the US government continued to ship more of them to Israel.

Israel has engaged in mass destruction of civilian infrastructure, rending much of Gaza uninhabitable (Ashraf Amra -UNRWA)

As if the death and destruction weren’t enough to incite deadly retaliation against Israel’s sponsor, depraved Israeli soldiers have used social media to document themselves gleefully demolishing entire residential blocks, smashing shops, toys and personal possessions, and — in a disturbingly widespread trend — dressing in the lingerie of displaced Palestinian women. All along, Israeli politicians, pundits and citizens openly endorse ethnic cleansing, forced starvation and other war crimes. Last week, multiple Israeli soldiers confirmed that, under orders, troops have been routinely using lethal weapons — including artillery shells — as a barbaric form of crowd control at food distribution points.

If innocent Americans are someday victimized by terrorists seeking to avenge the horror visited upon Gaza’s two million men, women and children with US-supplied weapons, watch for a perverse dynamic in which the attack is cited as a reason to redouble American support of Israel. Given the effectiveness of that spin, terrorism against the United States is a boon to the State of Israel. Reflecting that dark dynamic in the immediate aftermath of 9/11, Netanyahu seemingly struggled to contain his enthusiasm as he spoke to the New York Times:

Asked tonight what the attack meant for relations between the United States and Israel, Benjamin Netanyahu, the former prime minister, replied, ‘‘It’s very good.” Then he edited himself: ”Well, not very good, but it will generate immediate sympathy.”

This self-perpetuating phenomenon — in which terrorism motivated by American support for Israel is used to promote American support for Israel — isn’t the only example of warped thinking about the relationship. America’s approach to the Middle East is awash in circular, Israel-centered logic. For example, Americans are told Israel is a critical ally because it serves as a “bulwark” against Iran — and that America needs a bulwark against Iran because it’s an adversary of Israel.

In the aftermath of 9/11, Iranians held a mass candlelight vigil in Tehran’s Mohseni Square to express their condolences to the American people

In one of several observations about Israel that led to him being relieved of his position leading the US Joint Chiefs of Staff Levant and Egypt branch in June, Army Colonel Nathan McCormack summed up the relationship this way:

“[Israel is] our worst ‘ally.’ We get literally nothing out of the ‘partnership’ other than the enmity of millions of people in the Middle East, Africa and Asia.”

Bit by bit, that realization is spreading throughout American society, as citizens observe Israel’s conduct in Gaza, scrutinize the Israel-Palestine conflict as never before, and grow increasingly wary of Israel’s attempts to drag the United States into another major war launched on false pretenses. That latter dimension has special resonance with countless US combat veterans who’ve come to the terrible realization that their sacrifices and those of their fallen comrades were ultimately made for the benefit of a foreign government — and to the detriment of America’s security.

Earlier this year, Pew Research found a majority of Americans now have a negative view of the State of Israel, with the most jarring shifts observed within Israel’s strongest bastion of support: the Republican Party. Guaranteeing that Israel’s standing is poised for more deterioration, bad feelings about Israel among Republicans under age 50 soared 15 points in just three years, with half of them now having an unfavorable view of the country.

In 2010, Meir Dagan, who headed Israel’s Mossad spy agency, warned a Knesset hearing that “Israel is gradually turning from an asset to the United States to a burden.” Fifteen years later, Israel’s status as an enormous, multidimensional burden on the American people is more evident than ever.

Stark Realities undermines official narratives, demolishes conventional wisdom and exposes fundamental myths across the political spectrum. Join more than 3,500 Stark Realists who benefit from ad-free, monthly insights at starkrealities.substack.com

* * *

Views expressed in this article are opinions of the author and do not necessarily reflect the views of ZeroHedge

 

Tyler Durden
Sat, 07/05/2025 – 23:20

US Reassesses Relations With Colombia As Crime And Cocaine Surge Under Leftist Regime 

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US Reassesses Relations With Colombia As Crime And Cocaine Surge Under Leftist Regime 

The Trump administration recalled its top diplomat in Colombia, John McNamara, for “urgent consultations” on Thursday in response to what it described as “baseless and reprehensible” statements from senior Colombian officials. While the State Department did not specify which remarks prompted the move, it indicated that further actions would follow. In response, Colombian President Gustavo Petro recalled his country’s ambassador to the U.S., citing the need to reassess the bilateral relationship.

Tensions between the two nations have been rising, exacerbated by the recent shooting of opposition Senator Miguel Uribe, which U.S. Secretary of State Marco Rubio blamed on inflammatory rhetoric from Colombia’s far-left government.

Earlier in the year, President Petro refused to accept deportation flights from the U.S., prompting President Trump to threaten tariffs and sanctions; however, that dispute was ultimately defused. Colombian Foreign Minister Laura Sarabia resigned amid the diplomatic fallout. 

The deterioration in bilateral relations comes as Colombia’s security situation has deteriorated under President Petro’s leftist regime. Once a close ally of the U.S., Colombia has descended into crime and chaos, with coca cultivation surging. 

Coca cultivation rose 10% last year to 253,000 hectares — enough to produce more than 2,600 tons of the drug. The National Liberation Army, or ELN, capitalized on the boom, seizing full control of the Catatumbo region near the Venezuelan border, one of the world’s most prolific drug corridors. -Bloomberg

Petro’s “total peace” policy—centered on negotiating with drug cartels—has deeply frustrated the Trump administration, which has spent several months seeking to dismantle cartel command-and-control networks across the Americas to stop the flow of illicit drugs into the U.S. 

According to Bloomberg, citing a person familiar with the matter, Petro’s perceived lack of cooperation on narcotics trafficking is a significant source of the tension with Washington. The situation has led to a pending decision in which the Trump administration may decertify Colombia as a reliable partner in the war on drugs, as early as this fall. 

“Washington’s relationship with Bogotá is rapidly going from bad to worse,” Geoff Ramsey, a senior fellow at the Atlantic Council in the U.S. capital, told Bloomberg. 

Petro has publicly accused “right-wing extremists” of plotting to overthrow his government—an allegation that underscores internal power struggles and suggests growing political instability within the country. 

Tyler Durden
Sat, 07/05/2025 – 22:45

21 States Across US Now Reporting COVID ‘Razor Throat’ Variant

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21 States Across US Now Reporting COVID ‘Razor Throat’ Variant

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

At least 21 states are reporting a COVID-19 variant that spread across China earlier this year, according to newly updated data provided by a private company.

A map released by the Global Initiative on Sharing All Influenza Data (GISAID) shows that 21 states in the United States are reporting COVID-19 variant NB.1.8.1 as of Thursday afternoon.

The most recent estimate from the Centers for Disease Control and Prevention suggests that between June 8 and June 21, the NB.1.8.1 variant now makes up 43 percent of COVID-19 cases in the United States, making it now the dominant strain.

Separately, the CDC says that across the United States, COVID-19 levels are “currently very low.”

Outside the United States, Chinese health officials said in June that the NB.1.8.1 was driving a wave of infections across the country. And Chinese doctors at Peking University last month predicted a peak of nationwide COVID-19 cases in July, also stating that it may become the next dominant global strain, with symptoms including a sharp sore throat, fever, runny nose, vomiting, and diarrhea.

Due to the Chinese Communist Party’s history of covering up information and publishing unreliable data, including data on COVID-19 infections and deaths, information provided by local doctors and health workers could provide more context about the situation on the ground in China.

The World Health Organization (WHO) has designated NB.1.8.1 as a “variant under monitoring” and considers the public health risk low at the global level. Current vaccines are expected to remain effective.

Previously, WHO said some western Pacific countries have reported increases in COVID-19 cases and hospitalizations, but there’s nothing so far to suggest that the disease associated with the new variant is more severe than other variants.

NB.1.8.1 has been dubbed the “razor throat” or “razor blade throat” variant in media reports, including in India, the UK, China, and by The Associated Press. Several Chinese doctors told The Epoch Times in May that their patients had reported the symptom.

Separately, the WHO announced that the XFG strain is now a “variant under monitoring” in a report released in late June. XFG is estimated to make up around 14 percent of cases in the United States, and GISAID isn’t tracking the variant so far.

The spread of the variant also comes as a recent poll released on June 30 suggested that 70 percent of Americans would still attempt to test themselves for COVID-19 if they believe they contracted it. The survey was carried out in 2024 but was released earlier this week.

The survey, from UMass Chan Medical School and released through the JAMA Network Open journal, found that 70 percent of Americans indicated they would test if they suspected a COVID-19 infection, more than five years after the virus spread across the United States.

“Early identification of infection enables prompt care and steps to reduce spread,” the researchers wrote. “Timely initiation of oral antiviral medications is associated with lower hospitalizations, deaths, and long-COVID incidence among adults at high risk.”

In May, U.S. Health Secretary Robert F. Kennedy Jr. announced that COVID-19 vaccines are no longer recommended for healthy children and pregnant women, while the Food and Drug Administration on June 25 expanded existing warnings on the two leading COVID-19 vaccines regarding two forms of heart inflammation. The warnings refer to Myocarditis, which is inflammation of the heart muscle, and pericarditis, the inflammation of a sac that lines the heart.

The Epoch Times contacted the CDC for comment and hasn’t received a response as of Thursday.

The Associated Press contributed to this report.

Tyler Durden
Sat, 07/05/2025 – 22:10

CNN Stunned As Majority Of Americans Back Trump’s Mass Deportation Plan

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CNN Stunned As Majority Of Americans Back Trump’s Mass Deportation Plan

The Supreme Court handed the Trump administration a major deportation victory on Thursday. On the same day, the GOP-led House passed the One Big Beautiful Bill Act in a narrow 218–214 vote—legislation that paves the way for over one million deportations annually. Meanwhile, the first illegals arrived at “Alligator Alcatraz” in the Florida Everglades, with outbound flights soon to follow. With these massive wins stacking up, Trump has secured yet another victory: the hearts of the American people, who overwhelmingly support this effort to restore national security.

Let’s start with news from the Supreme Court. In short, the nation’s highest court ruled that an activist lower-court judge had severely overstepped by attempting to block the deportation of eight criminal illegal migrants to South Sudan, despite a prior order from the high court authorizing the removal.

In a 7–2 decision, the Supreme Court sharply rebuked U.S. District Judge Brian Murphy—an appointee from the radical leftist Biden-Harris regime era—for defying its June 23 ruling, which permitted Trump officials to proceed with deportations of criminal illegal aliens to third-world countries. The majority held that Murphy lacked the authority to enforce a previous injunction that the justices had already stayed. 

Moving on, with the passage of the One Big Beautiful Bill Act—set for President Trump’s signature on Friday afternoon—the bill permanently secures the border through the largest investment in immigration enforcement in U.S. history. It includes funding for over one million deportations annually and provides resources to complete the southern border wall. 

Tailwinds for Trump’s deportation agenda are gaining serious momentum, and one key driver is public sentiment. As it turns out, even legacy mainstream media polls show a clear majority of Americans support the administration’s illegal alien crackdown. CNN hosts appeared visibly stunned by the numbers, revealing that the public is firmly behind Trump in restoring law and order nationwide. 

Trump’s overwhelming support from voters for mass deportations suggests the left’s NGO propaganda machine is failing to control the narrative. The optics look increasingly dire for Democrats, especially as some within their ranks openly cheerlead radical Marxism.

Tyler Durden
Sat, 07/05/2025 – 21:35

Bitcoin Is The Benchmark: Why The Biggest Opportunity In The Next Decade Isn’t DeFi

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Bitcoin Is The Benchmark: Why The Biggest Opportunity In The Next Decade Isn’t DeFi

Authored by Mark Jeftovic via BombThrower.com,

Excerpt from the July Issue of The Bitcoin Capitalist – ‘The Stablecoin Standard’

Here is the the argument for this section of the Bitcoin Capitalist entitled ‘Bitcoin and Crypto Macro’:

“This sums up everything we’ve been seeing over this past cycle – Bitcoin settling in as the base layer for the next generation of financial instruments, with stablecoins acting as the rails between the legacy dollar system and new fintech-enabled one.”

Here is the whole section.

*  *  *

I want to reiterate something I used as the opening quote to our Bitcoin Treasuries Playbook, by way of Willy Woo:

“The biggest fintech opportunity in the next decade is not DeFi.

It’s the merger of BTC + TradFi.”

This sums up everything we’ve been seeing over this past cycle – Bitcoin settling in as the base layer for the next generation of financial instruments, with stablecoins acting as the rails between the legacy dollar system and new fintech-enabled one.

Billionaire investor and VC Tim Draper remarked on Bitcoin’s continued dominance, making the argument that what we are witnessing is an example of a “winner-take-all” phenomenon:

Bitcoin recently hit 61% market share, up from 40% after the first boom-bust cycle and 50% after the last one.

There is a gravitational pull toward Bitcoin. All the successful innovations on other platforms are being now ported to Bitcoin.

This matters so much more than people realize.

All the innovation that started in altcoins (smart contracts, blockchain applications, ordinals) is moving to Bitcoin.

I liken this phenomenon to Microsoft in the operating system days.

When Lotus 1-2-3 took off, Microsoft created Excel and brought it into the OS. WordPerfect succeeded, so Microsoft built Word. Then Microsoft bought PowerPoint early. All of these applications became standard with Microsoft, while the early startups were marginalized. 

Bitcoin is worth $1.8 trillion. The next largest token, Ethereum is only worth $250 billion. Bitcoin gets most of the programmers now. They are gravitating toward Bitcoin.

The five applications that really matter are being built on Bitcoin—DeFi (Peer to Peer Payments, Trading, Exchanges, financial inclusion etc), Smart Contracts (supply chain transparency and traceability, asset trading and resource tracking), Ordinals, Runes, and Layer 2 solutions like low cost micropayments.

This gravitational pull is accelerating.

Every entrepreneur building on Bitcoin has the entire ecosystem’s momentum behind them.

Smart entrepreneurs are always building on the platform with the strongest gravitational pull.

That platform is Bitcoin.

When people ask what Bitcoin will be worth in 5 years, I say it will be worth one bitcoin. It may be infinite against the dollar as the dollar continues to inflate into nothingness.

Bitcoin’s dominance was 61% when Draper posted that less than a week ago – it’s now 64%:

Meanwhile, Ethereum continues to languish, although there are those who say it’s undervalued and poised for a spectacular comeback – I just don’t see it.7

As noted in the Treasuries Playbook, we’re now starting to see ETH Treasury companies springing up; we mentioned SBET in that report – currently trading even lower than when we first cited it.

Now a Bitcoin miner of all things, BitMine Immersion Tech (NYSE: BMNR) has appointed Tom Lee (not the Motley Crüe drummer) as Chairman – and closed a $250M funding round to build an ETH treasury.

BitMine has the 62nd-largest corporate Bitcoin treasury at 161 BTC – and it’s unclear if they plan to liquidate that for more ETH purchases. I advise against it.

Bit Digital (BTBT) – also eschewing my advice – will be exiting Bitcoin mining entirely to “become an Ethereum pure-play”: they will sell off their Bitcoin (which according to their March investor deck was 742 BTC) in order to acquire ETH – and sell off or wind down their entire Bitcoin mining operation. We’ve never owned BTBT, good luck.

We did hold Sol Strategies, who set out to build a Solana Treasury company about a year ago, and we managed to ride that one near perfectly – exiting our position (for a stellar 2043% return) when I surmised that the memecoin trade was over, and there would be no alt-season as we’d seen in previous cycles.

Sol Strategies also had a BTC treasury – which I had hoped they would keep as an anchor – but they sold it off to buy more SOL, close to the highs – meanwhile Bitcoin has gone on to fresh new highs.

Future MBA and finance students may someday look back on this era and surmise that crypto treasury strategies can only succeed when the asset being stockpiled is the dominant asset, and it probably needs to be over some magical hurdle like 50% market dominance.

It also needs to have a rolling four and ten year CAGR that is higher than anything else, otherwise there’s no point in stockpiling it versus something with a higher RoR (see the “Bitcoin is the new Benchmark” section in the Playbook).

In other words, it has to be Bitcoin and all other treasury plays will stiff. Bank on it.

So, if Bitcoin is the only game in town for corporate treasuries and for the base layer of the next-gen financial system, “why isn’t BTC going up?”, is the question we’re seeing a lot of on social media…

Especially after that horrific crash all the way down to (checks notes), $98K on June 22nd – losing the psychologically important $100K level for nearly a whole eight hours.

People were permanently scarred – most likely from the Class of ’24.

One of the things I’ve been wrong about for this entire cycle was that we should be expecting a couple of 30% to 40% drawdowns, at least.

But there hasn’t been anything over 30% since November 2022, when the crypto winter ended, and Bitcoin bottomed at $16K (yes, really).

The chart below has the two major drawdowns of this cycle: the pull back after the spot ETFs approvals and post-halving hangover look like a single grind down – and that little squiggle in there in August was when the entire financial system shit itself after the Bank of Japan spoiled everything with a surprise rate hike that was a measly 15 basis points over expectations.

In this look at the very question of why “number not go up”, Bitcoin Magazine examined the HODL waves and concluded that there are just a lot of whales sitting on ultra cheap BTC who are taking their lifetstyle chips off the table, with over 240,000 BTC being sold by wallets that have been holding for one to five years in recent months.

“This selling has largely counterbalanced institutional accumulation. Given that daily miner issuance still adds another ~450 BTC to the market, we see why price has struggled to break higher: the market is in a state of supply-demand equilibrium”

Given the systemic shocks and seemingly existential crises that have been arriving at a steady clip (Japan imploding, bond yields, Middle East war, Ukraine War, etc), “Why isn’t Bitcoin Up?” isn’t the foremost question in my mind.

“Why isn’t it going down more during these periods?”, is what I’ve been wondering.

It is possible, even looking likely, that the market structure has fundamentally changed, possibly to the point where (dare I say it?) the four-year cycle could be a thing of the past.

Or maybe elongated, this other Bitcoin Mag piece looks at the 200-week Moving Average compared to prior cycles, noting that:

“a remarkably consistent pattern has emerged when the 200WMA surpasses its prior all-time high level. Across multiple cycles, when this crossover occurs,

Bitcoin has either peaked or come extremely close to peaking in price.”

Should that pattern hold up, we seem to be looking at somewhere around May or June 2026 for this cycle to top out (we would normally expect BTC to hit a cycle-top in Q4 this year or early ’26, if the four-year cycle holds up).

Tyler Durden
Sat, 07/05/2025 – 21:00

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