As we outlined in our recent analysis on Australia’s dangerous vulnerability to disruptions in the Strait of Hormuz, most of Asia is heavily exposed and faces an unprecedented energy crisis should the war in Iran continue to prevent safe passage of oil and natural gas from the Gulf.  As Australia debates the potential for a national emergency, the Philippines has already declared one.

This week, Philippine President Ferdinand Marcos Jr. signed Executive Order No. 110, declaring a state of national emergency as a targeted measure focused on the energy sector in response to disruptions from the ongoing US-Israel war with Iran.  Approximately 98% of all oil bound for the Philippines passes through the Strait of Hormuz.

The emergency declaration allows the Philippine government to exert control over fuel prices and fast-track imports from alternative suppliers, such as Russia. Philippine authorities say they have enough fuel to last about 45 days at typical consumption levels.  

Energy rationing programs are being instituted across Asia and questions are rising about a possible domino effect on global markets.  The Philippines announcement comes a day after South Korea launched a nationwide energy-saving campaign, calling on people to ride bicycles for short trips and reduce the length of showers. Japan, meanwhile, said Wednesday that it would soon begin releasing oil from its emergency reserve, equivalent to a 30-day supply. Thailand and Vietnam have also asked citizens to take steps to curtail energy use.

China’s exposure to Iran and the Hormuz situation could be detrimental.  Over 35% of their energy supplies pass through the Strait and 15% of their oil comes directly from Iranian wells.  That said, China also has a large oil buffer, with enough emergency supply to last around four months.  

The emergency declaration in the Philippines is initially set to last one year and serves as a tool to provide the government with more legal flexibility to respond to the crisis.  Executive Order 110 enables the government to:

Fast-track procurement and imports of fuel and petroleum products from alternative suppliers. Exert control over fuel prices if needed to prevent excessive hikes or profiteering. Ensure orderly distribution of fuel, food, medicines, and other basic goods. Form a contingency committee for coordinated response. Authorize advance payments on contracts if required for timely supply. Activate a “whole-of-government” framework, including support packages for livelihoods, industry, food, and transport.  

The last time the world faced a similar threat of energy shortages was the Arab Oil Embargo of 1973 following the Yom Kippur War.  It was this event, coupled with a massive devaluation of the US dollar, that triggered a stagflationary malaise that lasted until 1981.  It was also the event that led to the US diversifying its energy resources to avoid future dependency on OPEC.  Only 7% of all oil bound for the US travels through the Hormuz.  

Asian nations, however, have less access to alternatives, which is setting up the region for a historic breakdown in productivity if the flow of oil and natural gas is not restored within the next couple of months.  

The US-Israel war against Iran is nearly one month in, and amid the ongoing escalating threats and warnings Iran is touting that it is able to tap more than one million fighters for a potential ground confrontation with the United States, according to Tasnim News Agency citing a military source.

Some 7,000 additional US troops, mainly Marines and elite Army Airborne troops, are currently headed toward the region, amid speculation that President Trump will order a military operation to forcibly open the Strait of Hormuz, which could involve a high risk island campaign and effort to takeover Kharg Island oil export hub.

Tasnim has described a surge in volunteerism which driving the buildup, with young Iranians seeking to join military formations – angry at Iranian cities coming under heavy US-Israeli bombardment.

The report, which has been picked up in Western media headlines, also cites a surge in requests from Iranian youth to the Basij, which is the Islamic Revolutionary Guard Corps’ (IRGC) domestic security force, and has stood accused of the large-scale killing of protesters last January.

According to some of the direct quotes presented from military sources in the report:

Iranian authorities claimed that the possibility of the US launching a ground offensive, prompted “a wave of enthusiasm” among the population to create what it calls a “historic hell for American forces”.

“The US wants to open the Strait of Hormuz with suicide and self-destructive tactics; that’s fine”, the military source told Tasnim in response. “We are ready for both their suicide strategy to be executed and for the Strait to remain closed”.

President Trump said this during a televised cabinet meeting on Thursday:

US President Donald Trump has said Iran is “begging to make a deal”, describing them as “lousy fighters but great negotiators”, while casting doubt on whether the two sides would be able to reach a deal. pic.twitter.com/3GGINOwduu

— Al Jazeera Breaking News (@AJENews) March 26, 2026

At the moment, US CENTCOM has indicated some 40,000 to 50,000 American troops were already stationed in the region, but after over a dozen US Gulf bases came under Iranian missile attack, most have been moved to other, safer and more locations which are more removed.

Visualizing Iran’s armed forces and military hierarchy…

International estimates have long put Iran’s total active duty force at around 600,000 – with another few hundred-thousand in reserves. These significant figures, among a large population of over 90 million, do indeed suggest any potential American ground force could prove an utter disaster for the US, spelling quagmire for years to come. It is indeed very possible that Iran could draw on a million extra ‘volunteers’ during this state of war and existential survival for the nation.

United Airlines CEO Scott Kirby told ABC News on Wednesday that the month-long U.S.-Iran conflict and the resulting spike in jet fuel prices are set to push domestic summer airfares higher.

Kirby told ABC that ticket prices will have to rise by 20% to offset the more than 80% jump in jet fuel prices since the conflict began late last month. He said travelers should lock in their ticket prices now, before fares move higher.

Jet Fuel NY Buckeye MOC (New York Buckeye Pipeline jet fuel benchmark) 

In a separate report, Bloomberg cited data from research firm Alton Aviation showing that long-haul summer airfares have surged. In particular, June fares on key Asia-Pacific-to-Europe routes are up 70% from a year ago, with some routes experiencing even steeper increases: Hong Kong to London, up 560%; Bangkok to Frankfurt, up 505%; and Sydney to London, up 429%.

Data from the research firm Cirium show that demand for summer travel is already softening. Summer bookings for June travel from Europe to the U.S. have declined 15% from the same month a year ago, while bookings in the opposite direction have fallen 11%. Bookings from Asia to Europe also declined during the month, down 4.4%, including routes that connect through the Middle East.

“What we’re seeing is not just a short-term pricing shock. Even as the immediate disruption eases, longer routings, tighter capacity, and higher fuel costs will keep upward pressure on prices for an extended period,” Bryan Terry, a managing director at Alton, told Bloomberg.

Terry added, “It could take up to three months for the price reductions to work their way through the jet fuel supply chain.”

In recent weeks, analysts at Deutsche Bank and UBS have both warned that airlines may have to cut capacity to offset the spike in jet fuel prices. Reduced capacity, combined with higher fuel costs, points to possible demand destruction in travel this summer as consumers face sticker shock on ticket prices.

S&P 500 Airlines Index breaks sees technical breakdown.  

However, UBS analyst Atul Maheswari states why he sees a possible bottom (report here). 

Authored by Tyler Turman via TheDailyEconomy.org,

America has spent more than $20 trillion on fighting poverty since the introduction of President Johnson’s Great Society program in 1964. Sixty years later, how are we doing?

That depends, as it turns out, on how you measure it.

Last month, Senator Kennedy (R-LA) introduced a bill that would require the Census Bureau to report a new poverty metric as an alternative to the Official Poverty Measure (OPM) by including both cash and non-cash welfare benefits in its calculations.

As Kennedy points out, this is a much-needed fix. The OPM’s methodological weaknesses are well documented. Most notably, it ignores the hundreds of billions of dollars the government spends each year to assist low-income families through tax credits like the Earned Income Tax Credit and in-kind transfers such as Medicaid, food stamps, and housing subsidies.

In short, the OPM paints an egregiously inaccurate picture of material poverty in America.

Kennedy’s bill would require the Census Bureau to publish the Congressional Budget Office’s more comprehensive poverty measure alongside the OPM in its annual poverty report. A similarly constructed measure was developed by economists Richard Burkhauser and Kevin Corinth in a recent paper with the National Bureau of Economic Research. After accounting for taxes and transfers, they found that the “full-income” poverty measure sat at just 3.7 percent in 2023—1.6 percent after including employer-provided health insurance—a far more optimistic look than the OPM’s 11.1 percent from the same year.

That sounds like a triumph.

But Burkhauser and Corinth take it one step further and use their “full-income” measure to track changes in the poverty rate dating back to 1939. 

Contrary to popular belief, they find that the greatest era of poverty reduction happened before Johnson declared war on it.

From 1939 to 1963, absolute full-income poverty plummeted by 29 percentage points, from 48.5 percent to 19.5 percent. Then, despite the government pouring trillions of taxpayer dollars into combating poverty, poverty fell by only 15.7 percentage points from 1963 to 2023. Barely half the progress in more than twice the time.

But the stagnating decline is only half the story. The more consequential difference is what drove it. 

Before 1964, the main engine of poverty reduction was increases in market income — a measurement that includes wages, salaries, and other forms of income from employment. From 1939 to 1959, market income poverty fell by 26.1 percentage points, nearly all of the 27.3 percent decline in full-income poverty over the same period. In short, before the rapid expansion of the welfare state, most people were earning their way out of poverty.

After 1964, that engine stalled. Market income poverty fell by just 3.9 percentage points from 1967 to 2023, while post-tax, post-transfer poverty fell by 10 percentage points. Even though poverty has continued to decline over the past six decades, most of that was due to the ever-expanding generosity of government transfers.

While low-income Americans were benefiting from the biggest poverty reduction in the country’s history, the percentage of working-age adults relying on government transfers for more than half their income decreased from 2.9 percent in 1939 to 2.7 percent in 1959.

By 2023, this number had nearly tripled to 7.6 percent, even reaching as high as 15 percent in some years.

As Mercatus scholar Jack Salmon put it: “The War on Poverty changed the how of poverty reduction, but it didn’t accelerate the how much.” 

If anything, by changing the former, it may have blunted the latter. A 76 percent increase in real median income, paired with rising employment and higher productivity, largely driven by rapid postwar economic expansion, pulled more people out of poverty in 24 years than trillions of dollars in government-imposed wealth redistribution have done in 60.

Some may argue that this trend is to be expected. After all, reducing poverty from 48 percent to 20 percent is arithmetically easier than reducing it further because there are simply fewer people left below the poverty line, and those who remain tend to face the most entrenched barriers to self-sufficiency.

Fair enough. But as Burkhauser and Corinth point out, full-income poverty largely stagnated starting in the 1970s — right as welfare spending was ramping up dramatically.

In short, taxpayers have been paying for a multitrillion-dollar boondoggle that has yielded increasingly diminishing marginal returns. 

So, what was the main driver behind the pre-1964 miracle?

Simple: Economic growth.

The pre-1964 record, along with centuries of evidence, suggests that nothing has worked better than economic growth in helping individuals, especially those at the bottom of the income ladder, to achieve a higher quality of life. Across the world, economic growth driven by liberalization helped pull almost one billion people out of extreme poverty from 1990 to 2010.

The Fraser Institute’s research shows that North American states with higher and increasing levels of economic freedom tend to have more income mobility especially among low-income households, higher economic growth, less homelessness, and lower levels of food insecurity.

The fruits of economic growth are visible in ways that poverty statistics fail to capture, especially for America’s poor. As Joseph Heath points out, 95 percent of American households below the poverty line have electricity, indoor plumbing, a refrigerator, a stove, and a color television. More than 80 percent have an air conditioner and a cell phone, and two-thirds own a washing machine and dryer. Economic growth, not government programs, is what helped make these once-luxury goods unavailable to many wealthy households now accessible to nearly everyone. It continues to bear fruit today — wages for typical American workers are at all-time highs.

The most powerful anti-poverty program had no enrollment forms, caseworkers, or spending bills. It was a growing economy that helped millions of people earn their way to a better life. As such, subsequent efforts should focus on removing government-created barriers to economic growth, occupational opportunities, and job market entry rather than adding another layer of expensive, inefficient wealth transfers.

Senator Kennedy is right to say we need a more accurate measure of poverty. When analyzing the best ways to combat poverty, policymakers should reflect on whether the welfare state was ever the right tool for the job.

According to a newly declassified intelligence report, U.S. intelligence agencies intercepted communications from Ukrainian government officials back in 2022 discussing a scheme to siphon off hundreds of millions in American taxpayer dollars. The funds, earmarked for clean energy projects in the war-torn country, were allegedly redirected to the United States to benefit Joe Biden’s 2024 reelection campaign and the Democratic National Committee. 

The report, obtained by Just the News, summarizes raw intercepts gathered by U.S. spy agencies in late 2022. Officials familiar with the material say the communications are not believed to be tied to Russian disinformation efforts.

The declassified summary is very specific. 

“The Ukrainian Government and unspecified U.S. Government personnel, through USAID in Kyiv, reportedly developed a plan that would provide hundreds of millions of US taxpayer dollars to fund an infrastructure project for Ukraine that would be used as a cover to send approximately 90% of funds allocated to the DNC to fund Joe Biden’s reelection campaign,” the document states. 

The mechanics described are textbook money-laundering architecture. “The plan included details of how subcontractors would be funded through U.S. companies so that how the funds were spent and allocated would be difficult to track,” the report explains. Two American subcontractors were named in the raw intercepts as conduits for funneling money toward Democratic coffers, though their identities remain redacted in the declassified version.

According to the Council on Foreign Relations, Ukraine became by far the top recipient of U.S. foreign aid after Russia’s invasion in February 2022 — the first time a European nation held that distinction since the Marshall Plan. As of December 31, 2025, Congress had made available $188 billion in Ukraine-related spending, with $164 billion flowing from just five pieces of legislation. The last of those bills passed in April 2024 — while Biden was actively campaigning for a second term. 

What makes the alleged scheme particularly audacious is the built-in exit strategy. “They were confident the project would be funded initially, even though at some time in the future the project would be disapproved as unnecessary. At this time, the money would already be allocated and impossible to return or use for a different purpose,” the report added. In other words, the design assumed the fraud would eventually be discovered – and didn’t care. By then, the money would be gone and untraceable.

The cover-to-transfer pipeline was engineered for maximum opacity. “Additionally, contracts would be executed that would be difficult to verify. In this manner, most of the U.S. funding would be diverted to Joe Biden’s election campaign without the ability to track where exactly the funds came from,” the report read.

Director of National Intelligence Tulsi Gabbard recently learned of the intercepts and directed USAID officials to search agency records for evidence that the plot was actually carried out and to evaluate whether a criminal referral to the FBI is warranted. Perhaps the most disturbing find so far is that there is no substantive evidence that anyone during the Biden years made a serious effort to investigate what U.S. intelligence had intercepted. Officials reviewing the files noted a lack of investigative curiosity about allegations of foreign election interference.

Since President Trump took office, no new legislation authorizing additional spending for Ukraine has passed Congress. But now we need to find out how much of the funds for Ukraine were diverted to Biden’s campaign or the DNC, and whether the lack of an investigation reflects willful negligence, deliberate burial, or a conspiracy. 

Authored by Debra Heine via American Greatness,

Paid activists in Los Angeles, California, have been caught on hidden camera paying homeless people on skid row to forge signatures of registered voters on ballot initiatives.

O’Keefe Media Group (OMG) released part Two of its undercover investigation into the Democrats’ blatant election fraud operation in L.A. on Tuesday.

President Trump shared the report on Truth Social, commenting “terrible!”

California’s Republican gubernatorial frontrunner Steve Hilton commented on X: “They paid homeless people cash and drugs on Skid Row to forge your signature. Your name. Your vote. Stolen by a crackhead with a clipboard — while Gavin Newsom looked the other way.”

Hilton added: “This isn’t a conspiracy theory. It’s on tape. And not one Democrat is outraged. That’s because THEY DID IT ON PURPOSE.”

Part One showed petitioners offering cash to homeless people and drug addicts for their signatures. The shocking new video shows the activists, armed with printed lists of voter names and addresses, taking the scheme to another level.

“Fraudulent petitioners on Skid Row are now paying the homeless people to forge names, forge addresses and forge signatures of registered voters,” O’Keefe says at the beginning of Part Two.

Rather than registering the Skid Row denizens to vote, activists gave them $2–$3 in cash to commit forgery and election fraud in what OMG called “a coordinated system.”

O’Keefe stated that the operation was observed on nearly every street corner in downtown Los Angeles.

“The scheme appeared to be present in whatever direction we walked,” he noted.

The goal of the operation, according to OMG, is to “ensure the information matches official records so he signature passes verification.”

The workers handed out post-it notes with the names of a single voter written on them to each of the homeless dupes.

“I’m gonna tell you what to write,” a petitioners told one of the undercover journalists. “Your name’s Robert,” he said.

A petitioner told a female OMG journalist that she could move from corner to corner and get paid $3 a pop for signing other peoples’ names to the ballot petitions.

“Oh, so you guys are all working together?” she asked.

“You ask a lot of questions,” the petitioner replied. “You’re scaring me.”

The undercover journalists were taking a risk by asking questions and clandestinely recording among the unpredictable and potentially violent fraudsters.

At one point, during the investigation, one of the Skid Row workers attacked an OMG producer, punching him in the neck.

O’Keefe and colleague Cam Higby tracked down the addresses of some of the registered voters whose names were being used in the scheme.

In one case, the voter had not lived at the residence for nearly a decade,  but the current owners were still getting her election mail.

“Doesn’t live here . . . I bought this house nearly 9 years ago. The only reason I know that name is because we still get her mail,” the homeowner told Higby.

“I always feel really weird when I get the voting ballot . . . obviously that’s fraudulent,” he added.

After being shown the undercover footage, other residents appeared shocked that their names were used without their consent.

“I hope you put a stop to this soon,” a homeowner told O’Keefe and Higby. “I didn’t know they were using my name and address, for political fraud. Hopefully, the governor and district attorney just put a stop to this,” he added.

Multiple California felony statutes appear to have been violated, “including Elections Code §18613 (signing another person’s name to a petition), Penal Code §470 (forgery), and Elections Code §18601–18602 (paying for petition signatures),” OMG pointed out.

Riverside County Sheriff Chad Bianco, the other Republican in the gubernatorial race, has meanwhile been investigating a reported discrepancy of 45,000 votes in his county from the November 2025 special election on Proposition 50, the state’s congressional redistricting plan. Attorney General Rob Bonta on Monday filed an emergency writ with the court of appeals to stop the ballots from being counted.

“Why in the world would Rob Bonta want that count stopped unless he was afraid of what that count would uncover?” Bianco asked in a video posted on X.

In a sit down interview with O’Keefe, Hilton said it was vital to stop the money flow to California’s election fraud operations.

“We have to freeze all the money going to any organization doing this,” he said. “The other thing is the entire voting system in California is called into question by this. Because you can’t trust any of it.”

“Prosecutions need to happen, the money flow needs to stop because this is all being funded,” he added. “These people are being paid. Where’s the money coming from?”

In Part One, OMG reported that the Weingart Center, a 501(c)(3) nonprofit that offers services to homeless men and women living in LA’s skid row, appeared to be in on the scam.

The nonprofit has reportedly received millions in taxpayer grants since early 2022, including $112 million in 2022 alone and has over $800 million in net assets. Executives “are paid between $400,000 and $600,000 per year, yet the organization has repeatedly missed federal audit deadlines.”

Several petitioners also told OMG they work for Populus Inc., a political consulting firm.

Hilton told O’Keefe that he has put together a team that will weed out the fraud and prosecute the fraudsters in California if he is elected.

Summary

• Iran rejects US plan but says diplomacy continues (indirectly, apparently) – White House, Pentagon reviewing options for ‘final blow’ as Trump tells Iranians ‘get serious’ about talks. Hegseth: we’ll “negotiate through bombs”.

• Trump touts “present” of several tankers allowed by Tehran through Strait, while at the same time warning Tehran of ‘no turning back’ if it doesn’t negotiate. Cabinet meeting hails ‘successes’ while saying war to ‘end soon’, confirms 15-point plan delivered via Pakistanis.

• Israel says it has killed Alireza Tangsiri, commander of Iran’s Islamic Revolutionary Guard Corps navy.

• Iran “laying Traps” & “building up defenses” on Kharg Island; NYT report says 13 US regional bases largely ‘uninhabitable’ in wake of Iran ballistic missile retaliation on Gulf.

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Trump Touts Gift of Several Tankers Allowed by Tehran Through Strait

President Donald reiterated in a televised cabinet meeting on Thursday that Iran had given the US “present” in the form of several boats carrying oil, able to pass through the otherwise closed Strait of Hormuz.

Trump claimed Iran had planned to send over eight large vessels of oil as a show of good faith related to potential peace negotiations. He then described hearing of media headlines which said eight ships were moving through the Strait of Hormuz. He also stated his team is having “very substantial talks” with Tehran to resolve the conflict – but at this point it appears merely indirect via Pakistani mediation. As for the ‘gift’, some factcheckers have begun investigating the claim:

Tanker tracking data compiled by Bloomberg shows no sign of the eight big boats full of oil that are going right up the middle of the Hormuz strait that President Trump just mentioned in his briefing.

In the meantime oil went to highs of the day after Iran’s parliament called to continue the war until the enemy is “definitively forced to regret its actions”. Al Jazeera is also citing statements from Iran’s military of possessing “one million troops” ready to oppose a potential US invasion.

BREAKING: Trump reveals Iran’s gift:

They will let us have 8 boats of oil; they will sail tomorrow. pic.twitter.com/JwriJxAsK9

— Clash Report (@clashreport) March 26, 2026

Trump, Vance, Hegseth Address Cabinet Meeting: Negotiations, Bombs, Nuclear Threat

President Trump in a rambling review of the Iran war situation didn’t add too much that’s new. He said the US is engaged diplomatically with the Iranians, who are “sick” people who he says were bent on getting a nuclear weapon. At one point Trump stated the Iranians were just “two to four weeks away” from achieving a nuclear weapon, apparently in reference to the June war. Trump says “the conflict with Iran will end soon, it won’t be long. Had to take a little detour.” He had several times mentioned that Israel was under direct threat, and later said they “would have come after us (America) next.” And a new deadline before strike on Iranian energy/power infrastructure starts?

TRUMP ASKED ON NEW IRAN DEADLINE: I’LL ANNOUNCE IT

TRUMP: OIL PRICES, STOCK MARKET DROP HAVEN’T BEEN THAT ‘SEVERE’

TRUMP: TAKING CONTROL OF IRAN OIL AN OPTION

TRUMP ON IRAN, HORMUZ: I HAVE A FEELING IT’LL BE CLEANED QUICK

Vice President Vance briefly offered some specifics, in terms of revealing the White House’s view of the mission, declaring that the “Iranian conventional military is effectively destroyed” and “this gives the US options”. This means, Vance said, that we “have the ability to use every tool in the US’ disposal to ensure Iran never has a nuclear weapon.” The the meeting, the White House confirmed that it presented a 15-point peace plan to Tehran via Pakistani mediators.

Witkoff: in an address, the Trump envoy declared that “Iran has miscalculated” after the Iranians “repeatedly rebuffed the US’ requests in discussions; they have been stalling. No doubt the US is making all possible efforts towards a resolution.” Finally, he said we have warned Iran “don’t miscalculate again”. Witkoff emphasized, “We will see where things lead.” Pentagon chief Pete Hegseth later added: “The Department of War will continue negotiating with bombs.”

‘Diplomacy has Not Stopped’ – Iran says while saying No Direct Talks

Iran is confirming that only within the last 24 hours it formally received the US ’15-point’ plan via Pakistani mediators, but stated its assessment that it is “one-sided and unfair”. Iran has also slammed the proposals as ‘deceptive’. So in effect little has changed from reports earlier this week.

There is still no arrangement for negotiations, no realistic plan for talks at this moment, state media conveyed further on Thursday. However, there also this from state Tasnim: “Diplomacy has not stopped, if realism prevails within the US, then a way forward could be found.” Previously Tehran media stated “An informed source told Tasnim that Iran’s response to the 15 articles proposed by the US was officially sent last night through intermediaries.” So there’s ‘hope’ for an offramp through what are so far only indirect talks, but then Iran is also vowing to keep fighting, after some reports Tehran leaders are ready for a ‘long war’:

IRAN REJECTS U.S. PROPOSAL DELIVERED VIA MEDIATOR, VOWS TO CONTINUE FIGHTING

Slight dip in oil on the headlines:

‘Final Blow’

President Trump on Thursday is on the one hand calling on Iran “to get serious soon” in negotiations with the US “before it is too late” – while on the other he’s said to be mulling plans for a “final blow” in the military campaign. Axios writes that several possibilities are being considered, all which point toward serious escalation and in some cases even ground troops. All but one of the below “final blow” options carry the potential for US to get stuck in Iran for years:

— Seize or blockade Kharg Island (Iran’s main oil export hub).

— Invade/control Larak Island (key to Strait of Hormuz control).

— Take Abu Musa + nearby islands (strategic entrance to the strait).

— Block or seize Iranian oil tankers in the region.

— Launch massive airstrikes on nuclear/energy sites.

— (More extreme) Ground operations inside Iran to secure nuclear material.

Axios elsewhere reminds: “Trump’s five-day pause on strikes against Iranian energy infrastructure expires Saturday, and a dramatic military escalation will grow more likely if no progress is made in diplomatic talks, particularly if the Strait of Hormuz remains closed.”

Negotiations or ‘No Turning Back’

Meanwhile, below are a couple of the latest Iran-related Truth Social posts by President Trump, at a moment Iran has made clear it will reject direct talks until its ‘five conditions’ are met. Iran has said it won’t be “fooled again” and even though Trump has declared ‘success’ and that Iran has been “militarily obliterated, it’s clear that Tehran has serious strategic leverage given its de facto control of the Hormuz Strait.

Trump threatens in all caps that if Iran doesn’t relent then there is “no turning back” – however, the WSJ is at the same time reporting Trump has told aides he wants a speedy end to the war.

“President Trump has told associates in recent days that he wants to avoid a protracted war in Iran and that he hopes to bring the conflict to an end in the coming weeks,” WSJ writes.

The publication continues, “Nearly one month into the war, the president has privately informed advisers he thinks the conflict is in its final stages, urging them to stick to the four-to-six-week timeline he has outlined publicly, according to people familiar with the matter. White House officials planned a mid-May summit with Chinese leader Xi Jinping in Beijing with the expectation that the war would be concluded before the meeting begins, some of the people said.”

And then it states the obvious which should have been known before Operation Epic Fury was launched: “The problem is Trump has no easy options for ending the war, and peace negotiations are at a nascent stage.” Certainly all of the above-mentioned ‘final blow’ options all carry extreme risk of quagmire (which might make the Iraq and Afghan wars easy by comparison). Path to offramp or more massive escalation coming?

Iran War: We are not watching a path to peace
Three warning signs now visible:
1. “Talks” without a ceasefire
2. Expansion to economic choke points
3. Quiet preparation for ground forces
This is how limited wars become global disasters pic.twitter.com/GTTOc4o4YB

— Robert A. Pape (@ProfessorPape) March 26, 2026

IRGC Navy Commander Killed, Says Israel

Israel says one of its air strike has killed Alireza Tangsiri, commander of Iran’s Islamic Revolutionary Guard Corps navy, in another reported top-level death. Defense Minister Israel Katz described the strike was carried out on Wednesday night “in a precise … operation” and targeted other “senior officers of the naval command.” He played a central role in controlling the strategically vital Strait of Hormuz and recently issued direct warnings to Israel and the United States, including threats to close the waterway; however, just like all Iran’s military commanders, he’ll likely soon be replaced.

Overnight and in the last 24 hours, Iran has targeted more key refineries in Saudi Arabia and Kuwait, which Gulf states have described as a “brutal aggression” against the global economy. Gulf Cooperation Council officials said the situation is an “international responsibility,” warning that “what is a threat today will grow” and stressing that oil supply chains must be protected.

Reminder: Israel keeps an ‘assassination list’ and has reportedly removed these two men from it, to leave room for negotiations, apparently. Below: Mohammad-Bagher Ghalibaf and Iranian Foreign Minister Abbas Aragchi

The GCC called for de-escalation, stating their goal is a “diplomatic solution” to end the attacks, at a moment Pakistan, Turkey, and Egypt are said to be seeking mediation to get peace talks off the ground. “Our main message to our partners in the world is to send an international message, a unified message to Iran to stop immediately and unconditionally their attacks against the GCC countries.” They added their objective is not to “destroy” Iran but to build a “good relationship,” warning that “the deterioration of the situation in the Arab Gulf will be a warning that will exceed the Gulf area.”

Casualties in Iran: Iran’s Deputy Health Minister Ali Jafarian said at least 1,937 people have been killed during the war, including 240 women and 212 children. He added that at least 24,800 people have been injured, including around 4,000 women and 1,621 children.

Meanwhile Iran continues to send steady missiles and drones on Israel, with mounting Israeli casualties and much infrastructure, cities, and neighborhoods suffering severe damage.

⚡️ Iranian cluster munition hit in Israel’s Kafr Qasim earlier today pic.twitter.com/jEs6fdK8ON

— War Monitor (@WarMonitors) March 26, 2026

’13 US Regional Bases Uninhabitable’: NYT

…Something analysts suspected was the case over the course of the last weeks of expanding war: “Many of the 13 military bases in the region used by American troops are all but uninhabitable, with the ones in Kuwait, which is next door to Iran, suffering perhaps the most damage.” This is based on statements by unnamed US defense officials who admit they’ve had to scramble to find ‘alternative’ housing and office solutions for personnel.

The revelation comes on the heels of the Islamic Revolutionary Guards Corps (IRGC) having earlier warned that if American troops are ‘stationed’ in hotels or civilian office complexes, then those hotels and locations effectively become targets.

The Times report suggests that the US saw early fatalities and casualties (CENTCOM figures say 13 dead and some 300 injuries thus far) in part due to lack of preparedness for such a robust Iranian ballistic missile retaliation on US regional bases.

Iran “Laying Traps” & “Building Up Defenses” On Kharg Island

Iranian forces are said to be “laying traps” and “building up defenses” on Kharg Island, in preparation for a possible US ground attack and takeover. Iran has recently bolstered its defenses around Kharg Island, anticipating a possible US move to seize the key oil export hub, CNN reported this week. The island is vital to Iran’s economy, handling roughly 90% of its crude shipments, and has become a focal point in escalating tensions.

There is also growing skepticism among US allies and policymakers about whether capturing the island would achieve its broader objective. Even some Republicans are starting to publicly push back against any possible plans involving ground forces.

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More headlines and latest developments:

• Iranian state TV quoted an anonymous official saying Tehran rejected the plan delivered via Pakistan and will “end the war when it decides to do so and when its own conditions are met”.
• Iranian FM: “At present, our policy is the continuation of resistance. We do not intend to negotiate – so far, no negotiations have taken place, and I believe our position is completely principled.”
• The White House said the US is “very close to meeting the core objectives in Iran” and warned Donald Trump is prepared to “unleash hell” if Iran does not accept defeat.
• Trump said negotiations are under way and claimed Iran wants “to make a deal so badly” but that “they’re afraid to say it, because they figure they’ll be killed by their own people”.
• VP Vance may travel to Pakistan this weekend for potential talks with Iran.
• Iran has threatened to disrupt the Bab el-Mandeb Strait—the vital Red Sea route connecting the Mediterranean with MENA and Asia—if attacks target its territory or islands.
• Iran attacked a power plant in Israel; the state monopoly said there was no infrastructure damage.
• Iran said the US and Israel attacked the vicinity of the Bushehr nuclear plant.
• Media coverage of potential Kharg Island takeover scenarios has intensified in the past 24 hours.
• Iran’s parliament is working on a bill to impose fees on ships in the Strait of Hormuz.
• The Israeli military said it carried out a “wide-scale wave of strikes on Iran” this morning.
• The Telegraph: Russia has begun arming Iran with drones in the first known transfer of lethal munitions from Moscow to Tehran since the war began.
• The United Kingdom is discussing with global partners “a viable plan” to secure maritime traffic in the Strait of Hormuz.

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Authored by Steve Watson via modernity.news,

Jesse Ventura went full conspiracy mode on Piers Morgan’s show, suggesting President  Trump faked the July 13, 2024, assassination attempt in Butler, Pennsylvania, complete with a self-inflicted “blade job” cut to his ear for dramatic effect.

The former Minnesota governor and wrestling personality repeatedly questioned the authenticity of the event that left Trump bloodied but defiant, while downplaying the death of Corey Comperatore, the firefighter who was killed shielding his family.

Morgan highlighted Trump’s immediate response: standing up and pumping his fist with the call “fight, fight, fight.”

“Oh yeah, right, right, right. You ever hear of a blade job?” Ventura replied.

Morgan pressed back: “A blade? What, you think it was fake?”

“I don’t know. Where’s his scar today?” Ventura said.

“Somebody died, literally, sitting behind him,” Morgan countered

Ventura continued: “Come on, Piers. You’re gonna tell me this guy’s a big hero now?”

“I thought that day he was, yeah,” Morgan responded.

“Yeah, well, then he accomplished what he wanted out of you guys,” Ventura shot back.

Morgan held firm: “No, I think you can be heroic on one day, and he can be less heroic on others. But if you ask me, was he heroic when he got shot? Yeah.”

The exchange captured Ventura hedging with repeated “I don’t know” disclaimers even as he pushed the theory that Trump orchestrated the shooting purely for sympathy and electoral gain. 

Ventura, who once hosted a conspiracy theory television series, appeared uncomfortable when basic facts about the real bullet wound and the dead father were raised.

This latest outburst echoes earlier attempts to rewrite the Butler rally. In 2024, a simple photo of Trump’s ear without a bandage triggered leftist conspiracy spirals claiming the injury was exaggerated or nonexistent. 

By 2025, CNN’s Touré was openly framing the event as Trump being only “supposedly” shot in the ear, only to face immediate pushback. 

Ventura’s wrestling-inspired “blade job” claim – where performers secretly cut themselves to draw blood – fits the same pattern of denial.

Later in the same interview, the 74-year-old Ventura pivoted to personal bravado, floating a physical showdown with the president. Discussing Trump’s WWE Hall of Fame induction, Ventura declared: “Let’s both get in the ring. He’s in the Hall of Fame, isn’t he? Even though he’s never, ever had a match.” 

He added that if Trump wanted it, they could settle it there, framing it as a clash between a “Vietnam veteran” and a “draft dodger.”

The suggestion drew swift ridicule online, with many noting the absurdity of a man approaching 80 issuing wrestling challenges to the sitting president. Ventura further hinted at broader plans to travel to Washington and go “on the offense,” claiming Minnesota was now “secure,” though he declined to elaborate on specifics.

Ventura has long thrived on provocative theories, but here he faltered when Morgan simply held him to account for the human cost and the visible reality of that day. Insisting Trump hired or staged gunfire toward a crowd – resulting in death and injury – while performing a self-cut for optics remains a grotesque insult to the victims and to basic evidence.

Trump survived through instinct and timing amid clear Secret Service shortcomings that were later scrutinized. His unscripted courage became an iconic moment that resonated with millions and underscored the very real threats from political violence. Attempts to dismiss it as theater, whether from fringe voices or established media skeptics, only highlight the desperation to undermine his presidency.

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.

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The New York Times really buried the lede in a fresh report entitled “Iran’s Attacks Force US Troops to Work Remotely.” With the report noting that before the Iran war started the Pentagon had some 40,000 troops in the region, we are told that many have been widely dispersed due to the Iranian retaliatory bombing campaign on the Gulf, even as far as Europe, and must ‘work remotely’.

Somehow readers expect they are about to read a story mainly about how troops are now confined to hotels and office spaces throughout the region: “So now much of the land-based military is, in essence, fighting the war while working remotely, with the exception of fighter pilots and crews operating and maintaining warplanes and conducting strikes,” NY Times writes.

But then several paragraphs in comes a huge confirmation of what many analysts suspected was the case over the course of the last weeks of expanding war: “Many of the 13 military bases in the region used by American troops are all but uninhabitable, with the ones in Kuwait, which is next door to Iran, suffering perhaps the most damage.” This is based on statements by unnamed US defense officials who admit they’ve had to scramble to find ‘alternative’ housing and office solutions for personnel.

The revelation comes on the heels of the Islamic Revolutionary Guards Corps (IRGC) having earlier warned that if American troops are ‘stationed’ in hotels or civilian office complexes, then those hotels and locations effectively become targets.

“We are forced to identify and target the Americans,” the IRGC intelligence arm earlier stated, according to state Tasnim. “Therefore, it is better not to shelter them in hotels and to stay away from their locations,” the ominous message added, while calling on local Muslims to report on the American “hiding places”.

The Times report meanwhile suggests that the US saw earlier fatalities and casualties (CENTCOM figures say 13 dead and some 300 injuries thus far) in part due to lack of preparedness for such a robust Iranian ballistic missile retaliation on US regional bases.

The report goes so far as to say the situation is already worse than that of prior Iraq and Afghan wars in terms of danger to ‘front line’ bases and exposure to enemy fire:

While Bagram Air Base in Afghanistan and the U.S. Embassy in Baghdad, for example, were often targeted in suicide bombings and other attacks, neither the Taliban nor Iraqi militias possessed the kind of ballistic missile capability that Iran has.

During the war in Iraq in particular, the United States built up its bases there and in Kuwait, Bahrain, Saudi Arabia and Qatar. Now, the war in Iran has made all of those bases vulnerable — to the point where service members can’t really live or work there for extended periods, military officials said.

As for why this information wasn’t disclosed within the first three weeks of war, there have been reports that the Pentagon and Trump administration is downplaying negative developments while boosting only positive stories of battlefield successes.

The public was blocked from an accurate assessment also due to open source satellite image firms agreeing to censor their own data and imaging.

This WaPo story takes on new meaning now that we know 13 U.S. bases “uninhabitable” per NYT.

Satellite imaging firms Planet and Vantor delayed imagery access about 2 weeks ago, so Iran couldn’t do BDAs to improve targeting.

But it also meant U.S. public couldn’t see damage to…

— Rosemary Kelanic (@RKelanic) March 26, 2026

As for running a war over Iran while many CENTCOM units have been forced to relocate, the NYT report cites Pentagon officials who bluntly admit that “The result, according to current and former military officials, is a war that is much harder to prosecute.”

This of course is another big hurdle in terms of US grand strategy (assuming there is one in the first place), given already Iran has some major advantages of geography related to long term leverage, which has been obvious given the de facto closure of the Strait of Hormuz.

Tonight at 7pm ET, wealth manager Peter Schiff will debate bitcoin investor Mark Moss on the future of hard assets and the global monetary system. 

Since the start of the war in Iran, Bitcoin and gold have reversed roles. While BTC used to trade like a leveraged tech stock, tanking on any shaky geopolitical news, it surged since Trump started bombing. Gold meanwhile, briefly dropped into a technical bear market.

Are traders anticipating a swift end to the war or has there been a structural shift in the assets?

Regime shift really kicking in: gold -13% since start of the Iran war, bitcoin +6% https://t.co/H6AMd039bF pic.twitter.com/5E5C97Cr30

— zerohedge (@zerohedge) March 20, 2026

Still, zooming out, gold had an incredible surge last year and still sits comfortably at around +50% year over year. Bitcoin meanwhile is around -18% yoy at the time of writing.

Monthly trading swings aside, the important question for an investor is which is the superior asset, or even currency. Could either replace the dollar as the global reserve currency? Being backed by gold is arguably what allowed for the U.S. dollar’s global adoption.

Is Bitcoin an improvement on gold given its ease of transaction or is it worthless numbers on a computer?

When you stop measuring Bitcoin in fiat and price it in Gold, the picture clarifies instantly

Every 4 years, BTC revisits the 200 WMA against gold.

Traders wait on the sidelines waiting for confirmation, but for me… a long-term accumulator with a goal of “more bitcoin,” it… pic.twitter.com/2Me7cRP0Hd

— Mark Moss (@1MarkMoss) January 25, 2026

Trump has been the most “pro crypto” President thus far, appointing tech billionaire David Sacks as the crypto (and AI) czar. Bitcoin’s institutional adoption has undeniably surged with numerous approved ETFs on the market with reportedly close to $100B AUM allocated. But is mass appeal the same as underlying utility and value?

The biggest mistake I made with Bitcoin when I first learned about it was overestimating the ability of others to understand why it wouldn’t work. The very people foolish enough to buy it thinking it would work will be foolish enough not to sell it as the market proves me right.

— Peter Schiff (@PeterSchiff) November 29, 2025

Tune in tonight at 7pm ET at the top of the ZeroHedge homepage, X feed, or YouTube as the hard money camps duke it out over the future of money. The debate will be hosted by Real Vision’s Ash Bennington, an S-tier moderator and friend of zh.