Judge Tanya S. Chutkan ruled on Monday that former President Trump cannot make comments regarding his ongoing case brought by Special Counsel Jack Smith regarding Trump’s alleged efforts to overturn the 2020 election.

According to the ruling, Trump is barred from making statements about witnesses, testimony, court staff, or Special Counsel Jack Smith. The decision comes after Smith requested as “narrowly tailored” gag order in September in order to limit what the former president can say about the case.

Smith argued that Trump’s public remarks threatened to “undermine confidence in the criminal justice system and prejudice the jury pool.”

Trump’s lawyers argued that the gag order would violate Trump’s First Amendment rights, and “unconstitutionally silence” him during his bid for presidency in 2024.

She will file full order later today. Chutkan claimed her order was to prevent Trump from launching a “pre trial smear campaign” that poses a “danger to the administration of justice.”

I’m sure Trump will immediately appeal but no high hopes for DC Circuit to reverse.

This…

— Julie Kelly 🇺🇸 (@julie_kelly2) October 16, 2023

Chutkan said that Trump must “follow the conditions of release,” and that “he does not have the right to say and do exactly what he pleases,” to which Trump attorney John Lauro agreed, CNN reported earlier.

Of note, Chutkan is an Obama appointee who was formerly a partner at liberal law firm Boies Schiller & Flexner (BSF). BSF attorney Karen Dunn notably prepped Hillary Clinton for debates in 2016, and worked in the Obama White House. Another BSF attorney, Dawn Smalls, was John Podesta’s assistant.

As Axios further notes;

• Trump’s conditions of release in the case prohibit harassing or intimidating witnesses, per NBC News.
• Lauro argued Monday that the conditions of release have been working and are sufficient, and highlighted the difficulty of enforcing a gag order during the campaign, the New York Times reported.
• Prosecutor Molly Gaston argued that the order would prevent Trump from making “disparaging and inflammatory or intimidating statements.”
• She raised the possibility of fining Trump or changing the conditions of his release if he were to violate a potential gag order, per the Times.

The big picture: Trump has repeatedly criticized Chutkan and others involved in the case on social media.

• Prosecutors have pointed to Trump’s social media posts as evidence of the need for narrow gag order. “If you go after me, I’m coming after you!” Trump wrote in one Truth Social post highlighted by prosecutors.
• He has even called one potential witness “a gutless pig,” AP reported.
• Chutkan warned Trump in August against making any “inflammatory statements” about the case.

Trump’s trial is scheduled to start on March 4, 2024.

To save democracy, first we have to embrace fascism https://t.co/kTlrZygQY2

— Tom Elliott (@tomselliott) October 16, 2023

Authored by Jack Phillips via The Epoch Times,

About 2 percent of all Americans have received the updated COVID-19 booster shot after it was authorized and recommended by federal health officials several weeks ago, according to updated data provided by the Department of Health and Human Services (HHS).

More than 7 million Americans have taken the updated shot, which is authorized for people aged 6 months and older, said an HHS spokesman. That’s approximately 2 percent of all Americans.

“COVID-19 vaccine distribution, which has shifted to the private market, is a lot different than it was last year when the government was distributing them,” said a spokesperson for HHS about the vaccination data. It added that the agency is “directly with manufacturers and distributors to ensure that the vaccines are getting to” various locations.

The statement added that 91 percent of Americans aged 12 years and older “can access the vaccine within 5 miles of where they live,” adding that 14 million updated boosters for COVID-19 have been shipped to pharmacies and other locations. The vaccine was approved about a month ago by the Food and Drug Administration (FDA) before it was recommended by the U.S. Centers for Disease Control and Prevention (CDC) shortly thereafter.

It came as some people reported that it’s difficult to find doses of the new vaccines at local pharmacies and doctors. Jen Kates, a senior vice president at the Kaiser Family Foundation, said on X in September that her vaccine appointment was canceled due to a lack of supply.

The 7 million figure is up since Oct. 6 when Dr. Mandy Cohen, director of the CDC, told reporters that 4 million had received the new vaccines.

The HHS said Thursday that the latest updated vaccinate rate is about the same as the initial bivalent booster shot when it was rolled out in 2022. However, demand for the 2022 booster vaccine was similarly low, according to CDC data.

Data has shown that about 17 percent of the U.S. population got that previous updated shot, or around 56.5 million people.

The updated vaccines were meant to target the COVID-19 XBB.1.5 variant, which was spreading across the United States when companies like Moderna and Pfizer came up with the new version.

Observational data for the bivalent vaccines, or the previous versions, found weak initial effectiveness that quickly waned.

CDC officials made unsupported claims during the briefing, part of a trend for the agency. “These vaccines will prevent severe disease for COVID-19,” Dr. Demetre Daskalakis, director of the CDC’s National Center for Immunization and Respiratory Disease, told reporters. There’s no evidence that’s true.

The only clinical study data for the new shots is from a study Moderna ran that included injecting 50 humans with the company’s updated formation. The result was a higher level of neutralizing antibodies. Officials believe antibodies protect against COVID-19.

Moderna did not provide any clinical efficacy estimates for infection, severe disease, or death. Pfizer said it was running a trial but has not reported any results.

Novavax’s vaccine was authorized later without any new trial data, as CDC officials have said they recommend that shot. Unlike the Moderna and Pfizer vaccines, Novavax doesn’t use mRNA technology and is protein-based.

Hospitalizations Down

Despite the recent push for the latest vaccines, data provided by the CDC shows that hospitalizations for COVID-19 have been down for about three consecutive weeks.

For the ending Sept. 30, the hospitalization rate is down by 6 percent, while emergency department visits are down by 14.5 percent and COVID-19 cases are down 1.2 percent, the figures show. Deaths are up 3.8 percent, although health officials have previously said that deaths generally lag behind hospitalizations and case numbers.

In July, COVID-19 hospitalizations had been increasing for several consecutive weeks. CDC historical data suggest that deaths have been relatively low compared with previous years.

But with the release of the Sept. 30 data, hospitalizations have dropped for multiple consecutive weeks.

Dr. Shira Doron, chief infection control officer for Tufts Medicine, told ABC News that that the recent “upswing is not a surge; it’s not even a wave.”

The doctor added: “What we’re seeing is a very gradual and small upward trajectory of cases and hospitalizations, without deaths really going along, which is great news.”

The CDC on Oct. 6 released a report that attempted to push older Americans to get the newest vaccines by saying that COVID-19 is still a “public health threat,” namely for people aged 65 and older. The majority of hospitalizations, it said, is occurring among that older demographic, according to the paper.

In the meantime, a handful of hospitals in California, New York state, Massachusetts, and New Jersey have re-implemented mandatory masking—at least for staff.

Several Northern California counties issued a mask mandate for all health care staff starting next month and ending in late April 2024. They include Contra Costa, Sonoma, Alameda, and San Mateo counties. Officials in the Southern California county of San Luis Obispo also issued a vaccine-or-mask mandate earlier this month.

By Benjamin Picton, Senior Macro Strategist at Rabobank

It Never Rains, But It Pours

Brent crude futures closed up more than 5% on Friday, peeking back above U$90/bbl for the first time in almost a fortnight. US 10y yields were down more than 8bps at 4.61% and the long bond was down more than 10bps to 4.75%. That equates to a loss of 19bp for the 10y, and 21bps for 30y treasuries in just one week. Even equities appear to have gotten the risk-off message late in the week. The S&P500 closed down 22 points with losses being led by the high beta information technology sector and consumer discretionary, while defensives and energy performed well.

Who can blame markets for being jittery. The events of the last week are shocking, if not entirely surprising. The world now holds its breath as Israel prepares for a full-scale ground invasion of Gaza, with only unseasonal torrential rain delaying the seemingly inevitable.

As the title of today’s Daily suggest, it never rains, but it pours. US Secretary of State Anthony Blinken now finds himself the busiest man in the Biden administration as he jets around to be chastised like a naughty boy by world leaders in the global south. The war in Gaza is poised to spread and open new fronts. Iran has warned Israel that this may occur if Israel invades Gaza (as appears likely), while the US has in-turn told Iran to stay out if it knows what’s good for it. There have already been exchanges of fire between Israel and Iranian proxy Hezbollah over Israel’s Northern border with Lebanon, and recently there has been news of rocket attacks from Syria hitting Israeli positions in the Golan Heights.

Blinken has warned in recent days that Azerbaijan could soon invade Armenia, and some analysts have pointed out that the United States’ military preoccupations, along with the absence of monsoonal rains in October, presents China with a window of opportunity to attack Taiwan. Meanwhile, the second US carrier group deployed to the Eastern Mediterranean has been temporarily delayed to ensure that the flagship USS Eisenhower is in “peak readiness”. Two carrier strike groups armed to the teeth is an act of gunboat diplomacy with a clear message for Iran: “don’t try it”.

We have been suggesting for some time that the world security order is collapsing. Practitioners of idealist foreign policy will have to update their favourite bromides of the “rules based order”, because such a system no longer exists (if it ever did). Recent events suggest that we are back to the Hobbesian order that prevailed before the long peace, and potentially on a path to something worse than Great Power tension and regional proxy wars.

As popular historian Niall Ferguson alarmingly describes in The Times over the weekend, “a cascade of conflict… has the potential to escalate to a Third World War.” That is a worst case scenario, and one that we can still avoid, but it is a risk. With events moving as fast as they are, nobody can anticipate what might light the fuse on the geopolitical powder-keg. The Kaiser certainly never anticipated the actions of Gavrilo Princip in 1914.

Indeed, US national security advisor Jake Sullivan’s now infamous statement just two weeks ago that “the Middle East region is quieter today than it has been in two decades…” is starting to look a bit like Neville Chamberlain walking off a plane declaring “peace in our time!”

What are the implications for financial markets of this worst case scenario? Well, that’s not really the right question, but if we have to answer it it’s probably a combination of inflation, financial repression, scarcity and a long-overdue reversal of multiple expansion. We would be looking at a war economy that nobody in the markets today has ever experienced before.

Unthinkable as that prospect is, it’s not hyperbole. The tails are getting fatter by the day and this week at least, a clearing of the clouds will herald the beginning of the storm, rather than the end.

Update (0945ET): Just as we suspected, the CoinTelegraph tweet appears to be incorrect as Fox’s Eleanor Terrett confirms…

🚨BlackRock has just confirmed to me that this is false. Their application is still under review. https://t.co/XIfIWZ0Ule

— Eleanor Terrett (@EleanorTerrett) October 16, 2023

Oops!

Cointelegraph edits tweet, adding ‘reportedly’ 💀 pic.twitter.com/NWAPT9aLqp

— db (@tier10k) October 16, 2023

Which has pushed Bitcoin back down to $28k…

* * *

Following the surge in crude oil, gold, and bonds late last week as tension escalated in the Middle East, it appears Bitcoin is the latest to feel the squeezey alternate/safe-haven flows as the crypto currency has exploded higher this morning, topping $30,000 for the first time since August…

This moves comes after SEC’s decision not to appeal the court’s ruling against them over Grayscale’s Spot Bitcoin ETF application.

While we are yet to confirm, the move appears to have been driven by  a CoinTelegraph tweet that the SEC has approved a Spot Bitcoin ETF…

We would be highly surprised that the SEC would have folded so fast on this, so trade accordingly. Meanwhile the discount on GBTC has dropped to 2 year lows…

Additionally, as CoinTelegraph reports, prominent Bitcoiners and contemporary adopters highlighted the need to focus on the fundamental value proposition of Bitcoin to continue its push to mainstream acceptance in the packed Genesis Stage hall at Bitcoin Amsterdam.

“We’re contorting ourselves to pass through the keyhole of tyranny.”

Edward Snowden’s words ring out , stressing the preeminent cryptocurrency’s ever-increasing importance in a world beset by creeping government surveillance, devaluing fiat currencies and restrictive policies.

The renowned whistleblower’s address summed up a recurring theme during the conference hosted in Amsterdam, driving home the role of decentralized protocols like Bitcoin and Nostr in handing individuals some semblance of control over their wealth and privacy.

Cointelegraph spoke to prominent Bitcoin developers, investors, builders and supporters attending the two day conference at the picturesque Westerpark. In the midst of the ongoing cryptocurrency bear market that has tested the wider industry, the event managed to attract a couple of thousand event-goers looking for the latest news and insights from the BTC industry.

Edward Snowden delivers a live virtual address during the conference.

While these prominent figures highlighted the value proposition of Bitcoin as a store of value against diminishing purchasing power of fiat currencies, Snowden was critical of the continual focus on the value of BTC over its importance as decentralized tool:

“We are all part of a bigger game and Bitcoin is one of the strongest levers in that. The systems that we are influencing, that we are exerting leverage on – payments and finance – will shape what the world of tomorrow looks like.”

Snowden’s address attracted arguably the biggest gathering of visitors during the conference, as he revisited the role that Bitcoin played in his own journey rebelling against the hegemony of the U.S. government and its wanton surveillance of its citizens.

In 2013, Snowden used Bitcoin to pay for the servers that hosted classified information that was sent to journalists that would reveal the overreach of the National Security Agency. As Snowden elaborated, Bitcoin’s increasing prominence has led to increasing opposition from governments, lawmakers and legacy financial institutions.

“We don’t want to focus on things like ETFs (exchange-traded funds), we need to focus on the fundamentals.”

Snowden added that the potential influence of Bitcoin ETFs on the value of the cryptocurrency represents “subordination, a kind of subjugation, a process of taming” that is being played out by institutions that regulate traditional financial spheres.

Snowden also shared his belief that Bitcoin has ‘a privacy problem’, highlighting the emergence of obfuscation tools like coinjoin and mixers as important, but equally indicative of the pressure facing the decentralized protocol.

“Acting in secret is not freedom. The necessity of coinjoins and so on – that is because you are un-free. Proof of funds is proof of unfreedom.”

Snowden said that society needs to stop asking for permission by continuing to innovate with the creation of decentralized tools that do not heed to the powers that be, referring to the Securities and Exchange Commission’s actions against the wider cryptocurrency space in 2023 as a prime example of the control that currently exists:

“All of the people tracking price and looking at headlines involving the SEC. Gary Gensler is not Daddy Bitcoin. I don’t really care what he thinks and I don’t think you should either.”

The whistleblower also tipped his hat to the creation of Nostr, which he described as powerful in conceptualizing the integration of free speech and free trade. The creators of Nostr would later unpack the genesis of the platform at the conference, which also drew a significant crowd.

Authored by Steve Watson via Summit News,

During a CBS 60 Minutes Interview over the weekend, Joe Biden argued that America has “an obligation” to get involved in foreign wars, adding that “We can take care of both of these” while referring to the conflicts in Ukraine and Israel.

Host Scott Pelley asked Biden “Are the wars in Israel and Ukraine more than the United States can take on at the same time?”

Biden replied, “We’re the United States of America for God’s sake! The most powerful nation in the history, not in the (world), in the history of the world! The history of the world!”

He continued to blather, “We can take care of both of these and still maintain our overall international defense. We have the capacity to do this and we have an obligation to. We are the essential nation, to, to paraphrase the former secretary of State. And if we don’t who does?”

It seems Biden was attempting to quote Madeline Albright, who said in 1998 that America is the “indispensable nation.”

Watch:

“Are the wars in Israel and Ukraine more than the United States can take on at the same time?” Scott Pelley asks President Biden.

60 Minutes, tonight. https://t.co/mEN4CWeXMW pic.twitter.com/b3FC9yQiVE

— 60 Minutes (@60Minutes) October 15, 2023

Since when did the U.S. have “an obligation” to fight foreign wars?

In the same interview, Biden also declared that he’s sure he wants to serve a second term in order to achieve world peace:

Afghanistan back under Taliban control. Proxy World War 3 in E. Europe and now all gains in the Middle East made over last 5 years erased,

Yeah give him the fucking Peace Prize.

— Stephen L. Miller (@redsteeze) October 16, 2023

Elsewhere during the interview, Biden labelled ‘MAGA’ supporters ‘anti-democracy’:

Biden condescendingly smears millions of hardworking Americans: “This is not your father’s Republican Party” pic.twitter.com/ABbDjZ1cwW

— RNC Research (@RNCResearch) October 15, 2023

Meanwhile, Donald Trump criticised Biden for his inept mismanagement of the situation in Afghanistan.

“I wish Biden were doing a great job even though that would be very hard politically as opposed to the worst job,” Trump said in an interview.

“But I wish he was doing a phenomenal job even if it meant that, most likely, you wouldn’t be elected or whatever,” Trump continued, adding “But he is doing the worst job in the history of our country. You talk about the border, you talk about anything. You talk about Afghanistan. There’s never been a more embarrassing period of time in our country’s history than what took place in Afghanistan. There was no reason for that. You don’t take the military out first.”

“He’s the worst president in history, the most corrupt president in history, and the most incompetent president by far. He can’t even get off the stage, and can’t put two sentences together,” Trump added.

Watch:

Trump’s point about Biden not being able to get off a stage was proven yet again over the weekend:

Jill Biden’s new job is making sure Joe doesn’t get lost leaving the stage.

It’s very clear from their body language… and her giving him instructions that that’s why they sent her out there. pic.twitter.com/4kfSZBzpVP

— Tim Young (@TimRunsHisMouth) October 15, 2023

When he’s left to his own devices to get on and off the stage, he stumbles and barely makes it every time:

Biden almost falls as he takes the stage in Philadelphia

pic.twitter.com/TKbxj0zp4W

— The Post Millennial (@TPostMillennial) October 13, 2023

*  *  *

Brand new merch now available! Get it at https://www.pjwshop.com/

In the age of mass Silicon Valley censorship It is crucial that we stay in touch. We need you to sign up for our free newsletter here. Support my sponsor – Summit Vitamins – super charge your health and well being.

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The Starlink satellite internet service, operated by Elon Musk’s rocket company SpaceX, signed a deal with Qatar Airways to offer the new high-speed, low-latency broadband internet access on specified aircraft and routes. 

Qatar Airways and Starlink are in the pre-launch phase of rolling out the internet service across its fleet of aircraft. The new service will “allow passengers to utilize Wi-Fi speed of up to 350 megabits per second for gaming, VPN access, sports streaming, and more,” the airline wrote in a press release. 

“Qatar Airways is proud to announce its agreement with Starlink to provide seamless and complimentary Wi-Fi to its global passengers. This exciting collaboration is not only in line with our industry-leading approach to technological adoption, but also serves as an unmissable opportunity to connect Starlink to our global passengers. We look forward to our passengers benefitting from this state-of-the-art addition to Qatar Airways’ in-flight experience,” Akbar Al Baker, chief executive officer of Qatar Airways, said in a statement. 

SpaceX’s Vice President of Starlink Commercial Sales Jonathan Hofeller said: “With Starlink set to support the entire Qatar Airways fleet, passengers traveling between over 160 destinations around the world will be able to stay connected with the most advance high-speed internet service from space. In fact, as soon as passengers step onboard the plane the internet works seamlessly throughout their flight from gate to gate, and all from the comfort of their seats.”

Starlink has also signed with JSX, Hawaiian Airlines, airBaltic, and ZIPAIR. The Qatar Airways deal is the largest airline to partner with Starlink. 

Also, several cruise ship operators, including Carnival Cruise Line, Holland America Line, and Royal Caribbean, have rolled Starlink to enhance passenger internet speeds. 

Starlink being added to airlines and cruise ships is a relief for remote workers – who have had to deal with years of dial-up-like speeds. 

Elon Musk most likely upset anti-gunners at Everytown and Giffords this weekend with his post on X, stating, “As tragic as the mass shootings are, armed citizens are essential to the defense of democracy.” 

Musk’s comment was in response to an X user named “End Wokeness,” who highlighted, “The past 3+ years have been one long infomercial for the 2nd amendment.”

As tragic as the mass-shootings are, armed citizens are essential to the defense of democracy

— Elon Musk (@elonmusk) October 15, 2023

End Wokeness listed a series of events, including Covid lockdowns and lawless metro areas, as some of the reasons why law-abiding Americans panic-bought guns in recent years. 

According to the latest data from the FBI’s National Instant Criminal Background Check System (NICS), which serves as a proxy for gun sales, because there is no national database tracking firearm purchases, gun demand surged during the early days of Covid. It continued erupting as Black Lives Matter protests/riots sparked concern for safety among millions of Americans. Gun demand has since plunged since panic buying was merely a bubble. 

Musk’s pro-2A comments might spark anger among anti-gunners at Everytown and Giffords. Also, the White House’s ‘Gun Czar‘ Vice President Kamala Harris might not be thrilled with the billionaire. 

Hip-firing my Barrett 50 cal pic.twitter.com/OkNnjWid0r

— Elon Musk (@elonmusk) September 30, 2023

However, tens of millions of Americans will ignore Democrats’ cries to ban guns as their disastrous policies in metro areas and the southern border have transformed parts of the country into lawless hellholes. 

Chicago last night 👇 pic.twitter.com/U0SOUbkUbQ

— Clown World ™ 🤡 (@ClownWorld_) October 15, 2023

“It’s encouraging to see Elon Musk and many others finally understanding what a gift our Founding Fathers gave us with the Second Amendment. The right to keep and bear arms empowers individuals to protect themselves, their families, and their communities from tyranny,” said Aidan Johnston, Director of Federal Affairs of Gun Owners of America. 

The Second Amendment empowers individuals to defend themselves rather than be soft targets from criminals like mass public murderers.

You are your own first responder! https://t.co/AV5giBmkjE

— Aidan Johnston (@RealGunLobbyist) October 15, 2023

Additionally, many people got a wake-up call after Hamas terrorists killed hundreds of unarmed Israelis last week. We penned this note, “Israel Shows Why Americans Have Right To “Weapons Of War” For Self-Defense.”

Watch this terrifying video taken by Hamas terrorists as they enter the home of a family in a peaceful Kibbutz.
Watch how they walk around looking to slaughter and kidnapp whomever they find.
This is not a video game.
This was the reality of hundreds of families!
Hamas = ISIS! pic.twitter.com/asB1oGmvTp

— Guy Ben-Betzalel (@BenBetzalel) October 15, 2023

Remember, the government ain’t going to save you when all hell breaks loose. 

The week-long conflict between Israel and Hamas escalated on Saturday as the Israeli military prepares for a potential ground offensive in the Gaza Strip, a move that many anticipate. As of Friday, the death toll reached 3,000 on both sides. While Israel gears up for a ground invasion, most Americans stand behind Jerusalem. 

A new poll commissioned by NPR/PBS NewsHour/Marist poll finds that 65% of US adults support Israel in the war. This was true for most Republicans (77%) and Democrats (69%).

As for Independents, only 54% support Israel, while 32% say the US should ‘say or do nothing’. 

The data reveals huge generational gaps.

There’s an incremental decline in support for Israel from the silent generation of 86% to Baby boomers 83% to Gen X 63% to Gen Z/millenials of 48%. 

Young Americans not supporting Israel en masse is not surprising. Dozens of student organizations at top universities across the US denounced Israel last week and pledged support for Palestine. Some organizations at Harvard even justified the actions of Hamas in its war against Israel. 

NEW: A Stanford instructor reportedly told Jewish students to “identify themselves” and stand in the corner for a public shaming in response to the Hamas terror attacks on Israel.

Hamas Harvard has competition.

The instructor reportedly defended Hamas’ actions saying they were… pic.twitter.com/4HSqglU4Ay

— Collin Rugg (@CollinRugg) October 14, 2023

I have been asked by a number of CEOs if @harvard would release a list of the members of each of the Harvard organizations that have issued the letter assigning sole responsibility for Hamas’ heinous acts to Israel, so as to insure that none of us inadvertently hire any of their… https://t.co/7kzGOAGwp9

— Bill Ackman (@BillAckman) October 10, 2023

At University of North Carolina: “Hamas are Palestinians. WE are Hamas! F*ck your mother” [in Arabic]

Wearing an N95 mask. This is fine with the university. But if a student skips their 5th Covid booster, they will be expelled immediately…pic.twitter.com/Lh4yaZpO3M

— Dr. Eli David (@DrEliDavid) October 14, 2023

Hamas celebration at The University of Michigan… pic.twitter.com/mKU3J0SjNS

— @amuse (@amuse) October 14, 2023

Regarding racial demographics, about 51% of non-white respondents believe that the US should take such a public stance supporting Israel, whereas 72% of white respondents share this perspective. 

Again, this polling data comes as no surprise, considering Black Lives Matter Chicago celebrated the Hamas paraglider massacre at a rave in Israel with this post: 

And we almost forgot Rep. Alexandria Ocasio-Cortez’s (D) Democratic Socialists of America have held pro-Palestinian rallies, with some folks holding up Nazi signs in Times Square. 

I really really hate political posting, but the absolute irony and hypocrisy of hard left Dem groups like NY DSA flashing swastikas today, after years of casually throwing out terms like racist and nazi at all critics, is too much not call out pic.twitter.com/LT8H6QzPR1

— Ben Grossman (@BenGrossmanOG) October 9, 2023

One thing that stood out among all respondents is that 80% of them were concerned the conflict could erupt into a regional war. And they might be correct about that, as Rabobank’s Michael Every warned last week: “The Global Security Order Is Crumbling”: From Ukraine War To Middle East War To… 

Authored by Terri Wu via The Epoch Times (emphasis ours),

The Vanguard Group, one of the world’s largest asset managers, invests in Chinese military groups and companies linked to forced labor through index funds, a new report says. The report comes as the Treasury Department finalizes the rules pertaining to a White House executive order prohibiting certain outbound investments to China.

Vanguard’s $70 billion flagship emerging markets index fund includes 60 companies on the Chinese military company sanction list by the Office of Foreign Assets Control (OFAC) under the U.S. Department of Treasury, according to the report released by the Coalition for a Prosperous America (CPA) on Oct. 13. CPA is an advocacy organization representing exclusively manufacturers that have productions in the United States.

In addition, the flagship and other Vanguard funds also hold shares of eight Chinese companies sanctioned over human rights abuses in China’s Xinjiang region, where the persecution of Uyghurs has been identified by the U.S. State Department as “genocide.”

he report didn’t provide a tally of all Vanguard investments in Chinese military companies but listed a total of $100 million in three such groups.

While noting that Vanguard’s fund holdings are legal, CPA urged Congress to take urgent action on the “long-festering, structural problem” that “a weak public policy response by the U.S. government has allowed greed within the asset management industry to supersede urgent American investor protection, national security, and human rights concerns.”

“Congress must turn off the tap of American capital flowing to China and stop private and public market investments into blacklisted CCP-connected companies,” Rep. Mike Gallagher (R-Wis.), chair of the House Select Committee on the Chinese Communist Party (CCP), told The Epoch Times in an emailed statement.

“Americans do not want firms like Vanguard and BlackRock to invest their retirement savings in companies building the Chinese Communist Party’s military and implementing its ongoing genocide against the Uyghur people. If we accept the status quo, we are willfully fueling our own destruction,” he added.

Congressional scrutiny over Wall Street’s role in financing Chinese military companies has been on the rise.

Three months ago, Mr. Gallagher’s committee launched an investigation on BlackRock, another leading asset manager, and global index provider MSCI over their role in channeling money to Chinese companies involved in building weapons for the Chinese military. The committee estimated $429 million of such investment against American interests by BlackRock.

In a letter dated July 31 to BlackRock and MSCI, Mr. Gallagher and committee ranking member Rep. Raja Krishnamoorthi (D-Ill.) wrote that, through the companies’ funds, Americans were “unwittingly funding” Chinese companies that fuel the CCP’s military and the two companies were “exacerbating an already significant national security threat and undermining American values.”

Two months later, BlackRock closed its China-focused offshore fund. All shareholders would have to redeem any outstanding shares by Nov. 7 before the fund’s liquidation. BlackRock previously told The Epoch Times that its products “comply with all applicable U.S. government laws” and it’s one of 16 asset managers offering U.S. index funds with investment in Chinese companies. The company didn’t directly comment on the closure of the China fund.

In an emailed response, a Vanguard spokesperson told The Epoch Times, “Vanguard maintains the highest levels of compliance with all applicable laws and regulations, including sanctions law. We welcome additional clarity from policymakers who are in a position to determine sanctions through the formal OFAC process.”

“As one of many asset managers offering investors a range of funds to invest internationally, our clients’ investments in China are primarily through U.S.-based passive index products that provide diversified exposure to many developed and emerging economies,” the spokesperson added.

In August, President Joe Biden issued an executive order (EO), prohibiting U.S. outbound investments to China in industries such as semiconductors and quantum computing. The Treasury Department has published preliminary rules, which listed index funds as excepted transactions under the EO. The public commentary period closed on Sept. 28.

Starting Monday, Ford Motor Co. will lay off another 550 workers at several plants across the Midwest after United Auto Workers hit the automaker’s largest factory with ‘surprise strikes’ last week.

Detroit Free Press reports, “The latest round of layoffs tied to the 2023 UAW strike, bringing Ford’s total to approximately 2,480 strike-related layoffs.” 

UAW boss Shawn Fain made a surprise announcement on Thursday, indicating 8,700 UAW members walked off the job at the highly profitable SUV and truck plant in Louisville, Kentucky. He said expanding strikes were due to Ford’s refusal “to make further movement in bargaining.” 

According to Ford spokesman Dan Barbossa, the automaker’s “production system is highly interconnected, which means the UAW’s targeted strike strategy has knock-on effects for facilities that are not directly targeted for a work stoppage.

Barbossa explained, “In this case, the strike at the Kentucky Truck Plant and Chicago Assembly Plant has directly impacted operations at several other facilities.”

Ford provided the parts plants where the layoffs will occur tomorrow: 

• 306 employees at Sharonville Transmission Plant in Cincinnati, Ohio.

• 100 employees at Dearborn Stamping Plant in Michigan.

• 65 employees at Dearborn Diversified Manufacturing Plant in Michigan.

• 45 employees at Rawsonville Components Plant in Ypsilanti.

• 29 employees at Sterling Axle Plant in Sterling Heights.

• 12 employees at Chicago Stamping Plant in Chicago Heights, Illinois.

Barbossa added: “These are not lockouts … these layoffs are a consequence of the strike, because these six facilities must reduce the production of parts that would normally be shipped to Kentucky Truck Plant and / or Chicago Assembly Plant.”

We have noted how UAW strikes are turning to “permanent strikes” for thousands of workers across Detroit’s Big Three automakers. 

Last month, Ford’s chief supply chain officer, Liz Door, estimated that prolonged strikes could be disastrous for the supplier ecosystem, estimating “between 325,000 to 500,000 people that could be laid off.”