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Obama’s Presidential Center Seeking 100 Unpaid Volunteers To Staff Lavish Facility

Obama’s Presidential Center Seeking 100 Unpaid Volunteers To Staff Lavish Facility

Authored by Bryan Hyde via American Greatness,

Former president Barack Obama’s foundation has announced that it will be launching its lavish $850 million presidential center in Chicago in June and is seeking unpaid volunteers to help staff the facility.

That may seem on brand for a former president who has made volunteerism a central tenet of his civic career since his beginnings as a community organizer in Chicago.

At the same time, the staggering costs and jaw-dropping salaries being paid to Obama’s cronies who will run the presidential center are not as easy to pass off as part of his legacy of civic engagement.

Valerie Jarrett, a longtime advisor who will head up the center, is being paid $740,000 salary according to Breitbart.

In a press release from the Obama Foundation, Jarrett described the intended role of the unpaid volunteers, saying, “As Ambassadors, they will create a welcoming and inclusive experience for visitors while representing the strength, resilience, and leadership of this community. Together, we are building something that inspires service, connection, and action far beyond our walls.”

Foundation officials told Fox News Digital that the volunteers will complement the roughly 300 full- and part-time employees and that the volunteer program represents the foundation’s values both onsite and in the community.

Jarrett is one of several former Obama White House officials collecting six-figure paychecks as foundation executives.

According to Fox News Digital, tax filings show “Total salaries and benefits at the foundation climbed from $18.5 million in 2018 to $43.7 million in 2024 as staffing expanded to 337 employees and annual revenue reached nearly $210 million.”

Unpaid volunteers are commonly employed by presidential libraries, nonprofit cultural institutions, and museums.

In the case of the Obama Presidential Center, the foundation reports that “volunteer ‘Ambassadors’ will greet visitors, provide directional assistance, share information on exhibitions and events, and ensure every guest feels personally welcomed from the moment they arrive.”

The center is scheduled to open on Juneteenth, the holiday commemorating the end of slavery in Texas.

Using unpaid labor to carry out the day-to-day work of running an opulent institution run by a well-connected, wealthy elite?

If that isn’t irony, it’s certainly missing a great opportunity.

Tyler Durden
Mon, 03/16/2026 – 20:10

SEC Preparing Proposal To Eliminate Quarterly Reporting Requirement

SEC Preparing Proposal To Eliminate Quarterly Reporting Requirement

Very soon,10-Qs may be a thing of the past.

The Securities and Exchange Commission is preparing a proposal to eliminate the requirement to report earnings quarterly and instead give companies the option to share results twice a year, the WSJ reports citing people familiar with the matter.

In preparation for the proposal – which could be published as soon as April – regulators have been talking to officials at the major exchanges to discuss how they may need to adjust their rules. Once published, the proposal will be subject to the usual public comment period. After that period, which typically lasts at least 30 days, the SEC will vote on it. There are no guarantees it will ultimately happen.

The push for semiannual reporting gained steam late last year. As the WSJ reported last September, the Long-Term Stock Exchange petitioned the SEC to eliminate the quarterly earnings report requirement. Within days, President Trump and SEC Chairman Paul Atkins both said they supported the idea.

Publicly traded US companies have reported results every three months for the past 50-plus years. Trump briefly explored the idea of moving to semiannual earnings reports during his first term, but the effort went nowhere.

Those in favor of less-frequent reporting requirements believe a switch could help boost the shrinking number of public companies in the U.S. Among the reasons companies cite as to why they remain private is the time-consuming and costly clerical work required to list and maintain publicly traded shares.

Any change is likely to face opposition from investors who rely on the transparency of regular disclosures.

While the rule is expected to make quarterly reporting optional, and not eliminate quarterly reports altogether, it is unlikely that many companies will voluntarily subject themselves to intense public scrutiny at a time when AI is making decades-old corporate moats disappear virtually overnight. Alternatively, it could also make capital raising far more challenging for companies that opt out since investors could be anxious to allocate capital in companies that do not publish up to date snapshots of their financial matters. 

Tyler Durden
Mon, 03/16/2026 – 18:30

US Cities Face Water Stress Amid Crumbling Infrastructure

US Cities Face Water Stress Amid Crumbling Infrastructure

Authored by Autumn Spredemann via The Epoch Times,

Across large swaths of the United States, drought conditions and the explosion of data centers have brought renewed attention to the future of the water supply. But the biggest concern may be something local governments have known about for years: aging pipes and other decaying infrastructure that could threaten supply even when water is abundant.

More U.S. cities have been facing water stress in recent years. Drought conditions affected more than a third of the nation last year, with almost 30 million Americans living in areas with high water stress, according to the U.S. Geological Survey.

At the same time, data centers can consume upward of 5 million gallons of water per day. That’s the equivalent usage of a town with a population between 10,000 and 50,000 people. The number varies, but an estimated 4,149 data centers are currently operational in the United States, with another 2,788 announced or under construction.

But while drought and data center-related water consumption continue to make headlines, an estimated 6.75 billion gallons of treated drinking water are slipping through the cracks in America’s pipes every single day.

It’s a problem U.S. officials have seen coming for more than a decade.

A 2014 U.S. Government Accountability report found 40 out of 50 state water managers anticipated supply shortages in their states under “average conditions” within 10 years.

Fast forward to last year, when 75 percent of U.S. city officials and more than half of business executives said they expect water risks to outpace all other infrastructure threats, according to a Schneider Electric study.

“Water is not just essential for life—it’s the backbone of America’s economic strength—yet today the U.S. is facing a major water crisis, driven by dwindling supply and outdated infrastructure,” Sophie Borgne, Water and Environment Segment president at Schneider Electric, stated in a press release.

A general view of the Google Midlothian Data Center in Midlothian, Texas, on Nov. 14, 2025. Data centers can consume more than 5 million gallons of water per day, adding pressure in regions already facing water shortages that threaten residential access, industrial growth, and long-term urban resilience. Ron Jenkins/Getty Images

Most U.S. water pipes are between 45 and 100 years old, and many contain toxic elements such as lead and copper, according to the U.S. Environmental Protection Agency (EPA).

In its 2025 infrastructure report card, the American Society of Civil Engineers gave U.S. drinking water a C- score and wastewater management a D+ due to the ongoing battle to replace U.S. water pipes.

“The nation’s water infrastructure is aging and underfunded. More than 9 million existing lead service lines pose health concerns,” the engineers stated in the report.

The study authors also noted that “funding shortfalls” remain a problem in state-level funding for the necessary upgrades to drinking water pipes. They also observed that only an estimated 30 percent of these utility companies have fully implemented a water asset management plan, and less than half are even trying to implement one.

In October 2024, the EPA announced its final rule on replacing lead piping nationwide, with compliance required to begin that year. The ultimate goal was to replace all aging and leaking drinking water pipes nationwide within 10 years. The agency stated that the country’s drinking water systems would need $625 billion for pipe replacement, treatment plant upgrades, and additional assets.

“[With] the latest data from 2025, EPA estimates that there are 4 million lead service lines across the country, down from 9 million previously estimated,” an EPA spokesperson told The Epoch Times.

The spokesperson said an additional $3 billion in state funding is available to reduce exposure to lead in drinking water.

“EPA is committed to Making America Healthy Again by ensuring that all Americans can rely on clean and safe drinking water,” the spokesperson said, adding that the agency’s free water technical assistance program is available to “help drinking water systems identify, plan for, and replace lead pipes in the communities they serve.”

Workers use giant pumps to move sewage around a broken section of the Potomac Interceptor in Cabin John, Md., on Feb. 16, 2026. An estimated 6.75 billion gallons of treated drinking water are slipping through the cracks in America’s pipes every single day. Chip Somodevilla/Getty Images

Doing the Math

Presently, water lost to faulty pipe infrastructure is costing U.S. utilities $6.4 billion annually. So why is this decades-in-the-making problem still ongoing? Some say it’s because the math doesn’t work.

“While the $6 billion loss of 2 trillion gallons of treated drinking water—nearly 20 percent of the drinking water consumed in the U.S.—to old pipes and crumbling infrastructure sounds large, it must be put in perspective,” Jeff Stollman told The Epoch Times.

As an economist and technology futurist, Stollman prepares impact forecasts for industries, government, and the environment. He said the cost of replacing leaky water pipes ranges from $1 million to $4 million per mile, depending on pipe size, location, and installation method.

“The United States has over 2.2 million miles of underground drinking water pipes, with a significant portion reaching the end of their 75 to 100 year life. The cost of replacing half of these pipes at the lower range cost of $1 million per mile would therefore require municipalities to come up with $1.1 trillion. And this estimate is certainly low,” he said.

“Losing $6 billion a year, it would take nearly 200 years for the current losses to equal the cost of replacement.”

Compounding this, many older municipalities are “cash-strapped” as it is, he said.

A pipe diverts water into the C&O Canal in Cabin John, Md., on March 5, 2026. Most U.S. water pipes are between 45 and 100 years old, and many contain toxic elements such as lead and copper, according to the U.S. Environmental Protection Agency. Heather Diehl/Getty Images

Outside of federal assistance, Stollman said, state and municipal officials will likely need to raise utility prices to cover the improvements.

“This doesn’t mean that this [pipe changing] shouldn’t be done. But utilities will likely have to raise the cost of water more than 7 cents [per] gallon,” he said.

The soaring cost of water bills is already a concern for many. Since 2022, water bills have increased across the board.

In the Midwest, bills were higher than the national average, but the Mid-Atlantic region saw the greatest year-over-year increase in 2024 at 9.5 percent, according to a Bank of America analysis.

Bluefield Research observed in 2025 that U.S. water and sewer bills had risen 24 percent over the previous five years.

“The cost of maintaining and upgrading water infrastructure continues to rise, and these costs are being passed down to ratepayers,” Megan Bondar, an analyst at Bluefield Research, said in a press release.

Workers with the East Bay Municipal Utility District install a new water pipe in Oakland, Calif., on April 22, 2021. The Environmental Protection Agency issued a final rule in 2024 requiring water systems nationwide to identify and replace lead pipes within 10 years. Justin Sullivan/Getty Images

Down The Drain

Neno Duplan, CEO of Locus Technologies, said recent federal infrastructure funding “is helpful but insufficient to fully modernize century-old networks nationwide.”

Duplan has extensive experience with surface and subsurface hydrology. He told The Epoch Times that the full elimination of U.S. pipe leakage is neither “technically feasible nor economically rational.”

He said utilities optimize around what he called an “economic level of leakage,” balancing repair costs with water value.

He believes the most pressing investment need isn’t leaky water pipes, but resilient source protection, advanced treatment, and contamination mitigation.

That said, Duplan said the trillions of gallons seeping from American water pipes come at a high price tag.

“The direct impact of leakage is economic: higher operating costs, rate pressure, and occasional localized service interruptions,” he said.

Water lost from pipes isn’t gone entirely, but generally finds its way back into the hydrologic cycle via soil infiltration, aquifer recharge, or surface flow.

“The real issue is not physical loss of water molecules. The real issue is loss of treated, pressurized, potable water service and the economic and energy waste associated with producing water that never reaches a paying customer,” he said.

Reverse osmosis pressure vessels treat wastewater at the Groundwater Replenishment System, the world’s largest wastewater recycling plant, in Fountain Valley, Calif., on July 20, 2022. In its 2025 infrastructure report card, the American Society of Civil Engineers gave U.S. wastewater management a D+ due to the ongoing battle to replace U.S. water pipes. Mario Tama/Getty Images

While Duplan doesn’t expect the water hemorrhaging from America’s pipes to create scarcity on its own, he said it creates problems with delivery reliability and pressure management.

“Infrastructure failure can prevent treated water from reaching customers even when the raw water supply is adequate,” he said.

California, Texas, Florida, New York, and Illinois account for more than one-third of all infrastructure-related water losses, according to Bluefield Research.

While states including California and Texas have taken steps to standardize reporting and validation requirements for utility companies, many “still lack accurate, validated data—hindering transparency, performance benchmarking, and corrective action,” Bondar said in a press release.

Contamination is also a growing concern, which can increase water stress by reducing available freshwater.

“A far larger systemic threat to U.S. water security is contamination, because contaminated water requires energy-intensive treatment before it can be returned to beneficial use,” Duplan said. “Treatment, remediation, and advanced purification are capital and energy-intensive processes. That is where the true risk and cost lie.”

Duplan believes U.S. water supplies face the cumulative challenges of “aging assets, energy-intensive treatment, contamination risks, and allocation management under climatic variability.”

A car passes a burst water pipe damaged by strong winds and heavy rain from Hurricane Florence in Wilmington, N.C., on Sept. 14, 2018. Replacing aging water pipes can cost between $1 million and $4 million per mile, depending on pipe size, location, and installation method, according to experts. Andrew Caballero-Reynolds/AFP via Getty Images

In January, the United Nations said the current state of water “crisis” in many countries and cities has become the new normal.

“The patterns observed around the world are not those of a system struggling through a temporary crisis,” the agency wrote. “They indicate that many key renewable water systems have crossed thresholds where full restoration is no longer realistic, even with large investments.”

Cities Take Action

Since 2016, new federal rules and local investment programs have reshaped how cities track and upgrade water infrastructure. Revisions to the EPA’s lead and copper rule finalized in 2021 required utilities to inventory service line materials by October 2024, shifting the focus toward identifying pipe materials—especially lead—rather than documenting pipe age.

Cities have also expanded replacement efforts. In Baltimore, where pipes average roughly 75 to 80 years old, about 15 miles of mains are replaced or rehabilitated each year.

Milwaukee maintains about 2,000 miles of mains dating to 1873 and plans to replace 65,000 lead service lines by 2037.

In Philadelphia, where some pipes date back to 1824, about 20 miles are replaced annually.

Meanwhile, Phoenix reported more than 480,000 waterline services in a 2024 inventory and no lead lines, while San Antonio is shifting toward condition-based pipe replacement across its roughly 9,000-mile network.

Tyler Durden
Mon, 03/16/2026 – 18:05

North Korean Operatives Infiltrating U.S. Companies Through Remote Tech Jobs

North Korean Operatives Infiltrating U.S. Companies Through Remote Tech Jobs

North Korean operatives are quietly working inside U.S. companies through remote technology jobs, funneling millions of dollars back to Pyongyang and potentially gaining access to sensitive corporate systems, according to investigators and U.S. officials, according to NBC News.

The scheme relies on workers posing as American job applicants using stolen identities and fake credentials to secure high-paying remote roles, particularly in software development and artificial intelligence. Authorities warn the tactic allows the regime to bypass international sanctions while embedding operatives inside Western companies.

An investigation by the Virginia-based cybersecurity firm Nisos found that suspected North Korean IT workers apply to thousands of jobs using fabricated résumés and multiple online personas. Once hired, the workers often operate from overseas — frequently from China — while U.S.-based facilitators help maintain the illusion that they are located domestically.

These facilitators run so-called “laptop farms,” where company-issued computers are physically kept in the United States and remotely accessed by workers abroad. Investigators say the workers also coordinate applications, interviews, and references within tightly organized teams to increase their chances of being hired.

NBC News writes that the scheme has expanded rapidly since the rise of remote work during the COVID-19 pandemic, which made it easier for overseas workers to obtain jobs without appearing in person. Authorities say the salaries — sometimes exceeding $300,000 per worker — are largely sent back to the regime of Kim Jong Un, helping fund North Korea’s weapons and ballistic missile programs.

U.S. officials estimate the operation now affects hundreds of companies and generates hundreds of millions of dollars annually for the North Korean government.

Investigators say some operatives hold multiple jobs simultaneously, applying to dozens of roles a day and coordinating through organized networks that track applications and interviews. In some cases, the workers are accused of stealing proprietary data, cryptocurrency, or sensitive technical information while employed. Officials warn that even after the workers are discovered and fired, they may leave behind hidden system access that could later be exploited, raising broader national security concerns.

Tyler Durden
Mon, 03/16/2026 – 17:40

The Greatest Risk For The Global Economy Is Stagflation Driven By Governments, Not Oil

The Greatest Risk For The Global Economy Is Stagflation Driven By Governments, Not Oil

Authored by Daniel Lacalle,

The current oil price forward curve shows that the current global energy shock may be significant but short-lived. The forward curve presents a steep disinflationary trend to $80 per barrel by the end of 2026. Markets are discounting a short war with limited impact on supply but immediate ripple effects on markets and importing economies.

In the worst case, a new energy shock triggered by war with Iran would bring stagflation pressures across the global economy, especially in the economies that have been unable to strengthen their energy supply chains since 2022, like the European Union, which is still in a low-growth environment subject to significant impact from energy shocks. Even if the conflict is short‑lived, the disruption to the Strait of Hormuz and Gulf infrastructure has made the oil market go from an oversupply of 4 million barrels per day, according to the IEA, to a tight balance, as shipping routes come under pressure.

The Strait of Hormuz carries almost 25% of seaborne oil exports and a large share of liquefied natural gas (LNG) flows, which makes it the most sensitive energy route. However, 80% of the traffic through the strait goes to Asia, mostly China. That is why the Chinese government has halted all refined product exports from China, trying to limit the risk of supply constraints.

We must also remember that $100 a barrel today is not equivalent to $100 per barrel in 2008. In current dollar terms, the 2008 oil crisis would only trigger at $190 per barrel. Adjusting for inflation is important.

Non-OPEC supply is also a differential factor from other crises, as it has increased significantly since 2008, contributing to a more stable market despite rising prices. The current energy shock is entirely different from 2008 for the United States.

In 2008, the United States production stood at barely 5 million barrels per day. Today, the US is the largest oil producer in the world at 13.7 million barrels per day.

In 2008, dry natural gas output was around 56 billion cubic feet per day. It is projected to reach 106 billion cubic feet daily in 2026. Natural gas energy independence exists in the US, and with the inclusion of Canada and Mexico, North America’s oil independence is nearly complete.

Even considering all these differences compared with other instances, an energy shock would immediately increase fuel prices at the pump but also raise the cost of electricity, heating, fertilizers, plastics, chemicals, and many manufactured goods that depend on petrochemical inputs.

These secondary price effects may quickly feed into consumer and producer inflation, even if other disinflationary factors mitigate the overall CPI impact.

In energy‑importing economies such as the EU, Japan, South Korea, Taiwan, India, and parts of Latin America, higher fuel bills will likely hit households that are already suffering from persistent inflationary pressures due to uncontrolled government spending and money printing.

For countries like Pakistan, which relies heavily on imported LNG, and several Southeast Asian nations, the shock could trigger a relevant balance‑of‑payments stress, currency depreciation, and even the risk of rationing as fiscal buffers are exhausted.

The current level of US dollar reserves of emerging economies is elevated, but not enough to entirely offset the impact of an energy crisis on the purchasing power of their currencies.

If governments decide to “combat” the energy crisis by increasing spending and subsidies, which is the same as printing money, the macroeconomic impact would be stagflationary: higher inflation with weaker or no growth.

The biggest risk for inflation will not be the impact of energy prices only, but the response from governments if they decide to spend and print their way out of the war’s impact.

The most significant risk for the global economy would come if central banks decided to hike rates due to energy price spikes. Hiking rates would halt investment, consumption, and job creation and have no impact on prices driven by an external geopolitical factor.

If the war continues for an extended period, it could lead to a revision in global growth forecasts, which were already weak for 2026. The IMF had already estimated a slowdown to around 3% or less, and the Iran‑related shock may mean tighter financial conditions.

A long war could lead to a domino of recessions in energy-importing regions, while resource-rich exporters would see an economic boost that would not counterbalance the impact on the largest economies, primarily importers.

The greatest risk now is, as always, a domino of policy mistakes.

Developed economies’ governments may feel tempted to spend and print, ignoring the lack of fiscal space and the already persistent inflation created by the errors made during Covid-19 and the political response.

Governments might intensify their deficit spending, and central banks might repeat their mistakes from 2021-2024 by raising rates at the most inopportune time.

Stagflation is an unlikely outcome, but if it arrives, it will be entirely created by policy mistakes from governments and central banks.

Tyler Durden
Mon, 03/16/2026 – 17:15

“We Got A War Going On”: Trump Requests Trump-Xi Summit Delay By “A Month Or So”

“We Got A War Going On”: Trump Requests Trump-Xi Summit Delay By “A Month Or So”

Summary:

  • Trump asks for delay of “a month or so” for Trump-Xi Summit

  • China and US end trade talks

  • Bessent notes that any delay would be due to “prosecuting war”

*  *  *

Update (1700ET): President Trump said he had requested China delay a summit with Chinese counterpart Xi Jinping for about a month, saying it was important for him to remain in Washington to oversee the Iran war.

“Because of the war, I want to be here. I have to be here, I feel,” Trump said Monday during a White House event when asked about potentially rescheduling the high-profile summit.

The meeting between the leaders of the world’s two largest economies is currently set to begin later this month.

“And so we requested that we delay it a month or so, and I’m looking forward to being with him,” Trump added.

“We got a war going on. I think it’s important that I be here. So it could be that we delay a little bit, not much.”

As Rabobank pointed out earlier it’s tricky because Trump wants Hormuz open again. Xi wants guarantees that Gulf oil will continue to flow to Chinese refineries, Chinese industrial producers will have markets to sell to, and Chinese consumers will have food to import.

Trump thinks he has the upper hand in this negotiation and so on Sunday night he told media that he could seek to delay the Beijing summit and that he expected China to help open the Strait of Hormuz.

He is playing hard to get, and trying to put all of the pressure on Xi to force a resolution. To paraphrase Nixon’s Treasury Secretary John Connally: “it’s our war, but it’s your problem.”

So, could the upcoming summit be the moment where we see Beijing issue the directive to its allies in Tehran to end the blockade?

For Xi it may be a choice between that, or suffering the wrath of Kharg on the Chinese industrial economy.

*  *  *

Update (0911ET):  The Hong Kong-based South China Morning Post has published an update on the sixth round of U.S.-China trade talks, which concluded moments ago in Paris.

SCMP’s title for the update is rather ominous: “China and the US end trade talks as doubts form over Trump visit.”

The report states that both sides discussed a possible extension of existing tariff and non-tariff measures, as well as bilateral investment.

China’s top trade negotiator, Li Chenggang, said the two sides held “deep, frank, and constructive” talks and agreed to “continue to maintain the stability of tariffs.”

Earlier, Treasury Secretary Scott Bessent told CNBC’s Brian Sullivan in Paris that any delay in the Trump-Xi meeting later this month would not be due to Beijing declining to assist the U.S. in reopening the Strait of Hormuz with a naval coalition, but rather because of logistics: “If the meeting, for some reason, is rescheduled, it would be rescheduled because of logistics.”

I don’t think the meeting is in jeopardy, but it’s quite possible the meeting could be delayed,” White House Press Secretary Karoline Leavitt told Fox News moments ago.

Leavitt said, “These are leader-to-leader conversations that are currently taking place,” adding that if the trip is delayed, the White House will provide the new dates very soon.

SCMP quoted the Chinese foreign ministry as saying both sides at the negotiating table were in contact over Trump’s state visit.

*   *   * 

Update (0800ET):  Treasury Secretary Scott Bessent joined CNBC TV to counter narratives from U.S. MSM outlets overnight that claimed President Trump would delay the Xi summit later this month if Beijing did not help form a naval coalition to reopen the Strait of Hormuz.

If the meetings are delayed, it wouldn’t be delayed because the president demanded that China police the Strait of Hormuz,” Bessent told CNBC’s Brian Sullivan in Paris. “If the meeting, for some reason, is rescheduled, it would be rescheduled because of logistics.”

Bessent headlines from the interview:

  • FALSE TO SAY IF CHINA DOESN’T OPEN HORMUZ, TRIP DELAY

  • US-CHINA TRADE MEETINGS IN PARIS’ VERY GOOD’

  • IF TRUMP DELAYS CHINA, WOULD BE DUE TO PROSECUTING WAR

  • MARKETS SHOULD ‘ABSOLUTELY NOT’ REACT TO TRIP DELAY

It’s clear that Iran-US conflict adds yet another layer of tension ahead of the Trump-Xi summit. Bessent wrapped up talks in Paris with the Chinese today, with reports earlier stating potential areas of agreement in tariffs, agriculture, energy purchases, fentanyl, and Taiwan.

*   *   * 

Brent crude futures are trading around $103 a barrel early Monday morning amid U.S. strikes on Iran’s Kharg Island oil export hub. Concerns about tanker congestion in the Strait of Hormuz, however, appear to be easing.

A flurry of weekend headlines suggests that the Trump administration is racing to reopen the Hormuz chokepoint and avert a further energy shock in global markets. According to a new Axios report, plans for a multinational naval coalition could be unveiled as soon as this week.

Hormuz Tanker Traffic

In a Truth Social post on Saturday, Trump said the U.S. and allied countries would send warships to the Hormuz area to reopen commercial shipping lanes. He called on China, France, Japan, South Korea, and the U.K. to help.

On board Air Force One later that day, he told reporters he “demands” that NATO countries and other nations heavily dependent on Gulf crude oil and other product imports help with the naval operation.

“We are talking to other countries about policing the straits. It will be nice to have other countries policing with us. We will help. We are getting a good response,” Trump said.

In a Sunday interview with the Financial Times, the president warned that he could delay his upcoming summit with Chinese President Xi Jinping if Beijing does not participate in the naval coalition.

Trump told FT, “It’s only appropriate that people who are the beneficiaries of the strait will help to make sure that nothing bad happens there.”

“If there’s no response or if it’s a negative response, I think it will be very bad for the future of NATO,” he added.

While Beijing has yet to publicly respond to Trump’s request, the state-run Global Times rejected Trump’s plan to spread the risk “of a war that Washington started and can’t finish.” GT explained on Sunday night why Beijing wouldn’t join the naval coalition.

“Crowding a volatile waterway with warships from multiple nations doesn’t create security. It creates flashpoints. If any single vessel were struck, the consequences could rapidly spiral beyond anyone’s control,” GT said. This is “more a carefully structured transfer of risk.”

Bloomberg noted, “A delay to the summit could suit Beijing. China had previously proposed that Trump arrive at the end of April to allow more time for preparations, according to a person familiar with the matter,” adding, “Such a postponement would allow for more discussion on security and diplomatic issues, including self-ruled Taiwan, which have so far not featured prominently on the planning agenda.”

The Iran-US conflict adds yet another layer of tension ahead of the Trump-Xi summit. Both sides are expected to wrap up trade talks in Paris on Monday, with potential areas of agreement in tariffs, agriculture, energy purchases, fentanyl, and Taiwan.

Tyler Durden
Mon, 03/16/2026 – 17:00

Guess What Ireland’s President Said About St. Patrick’s Day…

Guess What Ireland’s President Said About St. Patrick’s Day…

Authored by Steve Watson via Modernity.news,

Irish President Catherine Connolly marked her first St. Patrick’s Day in office with a message that reframed Ireland’s patron saint as a symbol for open borders and ‘global citizenship’, urging the Irish to embrace migrants amid ongoing surges in arrivals that have sparked nationwide tensions.

In a video address, Connolly drew parallels between St. Patrick’s enslavement and modern migration, calling for hospitality toward those displaced by war and persecution—conveniently overlooking how mass influxes of economic migrants have overwhelmed Irish communities and resources.

The full message, delivered against a backdrop of Irish and other flags, emphasized St. Patrick’s story as “a reminder of the resilience and courage of migrants, the invaluable contributions that they have made, and continue to make, to the countries they now call home, sometimes even in the face of great adversity.”

Connolly went on: “Patrick’s story speaks not only to the Ireland of the 5th century, but to the millions still subjected to trafficking, forced labour and displacement today.”

She added, “As we recall the life of Patrick, we invoke his spirit and acknowledge our shared responsibilities as global citizens. We stand in solidarity with those who find themselves in vulnerable and dangerous circumstances.

The president wrapped up by stressing, “Patrick’s story invites us to respond with hospitality and kindness to those suffering the consequences of war and displacement, those fleeing their countries because of persecution or violence.”

This pivot comes as Ireland ramps up immigration reforms in 2026, including higher salary thresholds for work permits, digitalized processes, and faster citizenship paths for those granted international protection—moves that critics say prioritize foreigners over native Irish struggling with housing shortages and cultural erosion.

The government’s Budget 2026 poured funds into modernizing the system, aiming to streamline legal access for more migrants while protests against accommodation centers continue to simmer across the country.

The message quickly drew fire on X, where users slammed it as a betrayal of Irish identity in favor of globalist talking points.

One poster fired back: “The spirit is St Patrick? Wasn’t he the guy who ‘Chased the SNAKES out of Ireland?!?’ Don’t you see the similarity here?”

Another echoed: “St. Patrick chasing the snakes out of Ireland is not a metaphor for being friends and surrendering Ireland to foreign invaders.”

These reactions highlight growing frustration with leaders who seem more eager to virtue-signal on the world stage than protect their own country’s sovereignty and traditions.

Connolly’s address also touched on Ireland’s neutral stance and commitment to peace, claiming the nation is “uniquely placed” to address global challenges due to its history of famine and migration. But such rhetoric rings hollow as domestic unrest over immigration boils over, with recent changes easing pathways for newcomers while native concerns go unheeded.

This address reeks of complete capitulation. St. Patrick’s Day is supposed to honor Irish patriotism, not serve as a platform for diluting national pride under the guise of “hospitality.” If Ireland wants to preserve its heritage, it’s time to chase out the globalist snakes eroding it from within.

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
Mon, 03/16/2026 – 15:45

Nvidia Shares Pump & Dump After CEO Jensen Expects “At Least” $1 Trillion In Revenue By 2027

Nvidia Shares Pump & Dump After CEO Jensen Expects “At Least” $1 Trillion In Revenue By 2027

Summary: 

  • CEO Jensen began discussing all things AI around 1520 ET.

  • CEO Jensen said the data center AI opportunity will grow from half a trillion dollars to $1 trillion by 2027. CEO Jensen said, “Computing demand has increased by 1 million times in the last two years.”

  • A graphic on screen indicated that 60% of the business is hyperscalers.

  • CEO Jensen said, “We are now a computing platform that runs all of AI.”

  • CEO Jensen said, “Our cost per token is the lowest in the world.”

  • Nvidia unveiled the new Vera Rubin program.

*   *   * 

Nvidia CEO Jensen Huang is speaking at the GTC 2026 in San Jose, California, about the company’s AI expansion.

Huang said the data center AI opportunity is growing from about half a trillion dollars to more than $1 trillion by 2027. He said that 60% of the company’s business comes from hyperscalers, adding that 40% is everything else, clouds, enterprise, robotics, gaming, supercomputing, etc.

The graphic shows that much of the demand is driven by model builders and AI companies such as Anthropic, xAI, Gemini, and OpenAI.

“We are now a computing platform that runs all of AI,” the CEO said. 

The presentation initially sent Nvidia shares up as much as 4.8%, while the Nasdaq also moved higher, but most of those gains have now been erased.

A round trip for Nvidia shares.

Other highlights of Jensen’s presentation include…

Jensen says, “computing demand has increased by 1 million times in the last 2 years.” Hints at the current memory shortage created by the AI buildout of data entry. 

On Tokens per watt: Jensen said, “Nvidia AI GPUs that can quickly get through more tokens than the competition.” He noted, “This is your revenue. Our cost per token is the lowest in the world.”

Nvidia unveils the New Vera Rubin program. It’s the company’s latest AI platform for AI data centers that is “vertically integrated completely with software.

Watch Jensen live here:

Developing…

Tyler Durden
Mon, 03/16/2026 – 15:32

Cuba Suffers “Total Disconnection” Of Power Grid; Trump Says Deal With Havana ‘Pretty Soon’

Cuba Suffers “Total Disconnection” Of Power Grid; Trump Says Deal With Havana ‘Pretty Soon’

Summary:

  • Cuba’s National Electrical System suffered a “total disconnection” on Monday afternoon.

  • Trump said on Sunday that he expects a U.S.-Cuba deal very soon.

  • Cuban President Miguel Díaz-Canel admitted on Friday that talks between Havana and Washington are underway.

  • Cuban fuel supplies are dangerously low amid Trump’s crude import blockade.

*  *  *

Cuba’s National Electrical System has suffered what the country’s Energy Ministry called a “total disconnection,” and the causes are being investigated. This comes as Trump’s blockade of crude oil imports to the Caribbean island has reduced fuel stockpiles to dangerously low levels.

“A total disconnection of the SEN has occurred. The causes are being investigated, and protocols for restoration are being activated,” the Energy Ministry said on X around 1400 ET.

Earlier, we reported that Trump is in talks with Cuba and that a deal could be reached soon.

Over the weekend, Cuban President Miguel Díaz-Canel publicly admitted for the first time that Havana was in talks with Washington.

*  *  * 

As Aldgra Fredly detailed earlier for The Epoch TimesU.S. President Donald Trump said on March 15 that the United States is in talks with Cuba and expects to reach a deal with the communist-ruled country soon.

Tourists ride in an old American car used as a taxi along a quiet avenue in Havana on Feb. 8, 2026.Adalberto Roque/AFP via Getty Images

Trump told reporters aboard Air Force One that “something will happen with Cuba pretty quickly,” and that Washington will decide on Cuba after dealing with the war in Iran.

Trump on Jan. 11 told Cuba to strike a deal after U.S. forces captured Venezuelan leader Nicolás Maduro in a Jan. 3 operation. Cuba has long been a close ally of Maduro’s regime and has relied on Venezuela’s oil supply for decades.

After Maduro’s ouster, interim Venezuelan leader Delcy Rodríguez redirected oil deliveries to the United States.

“Cuba also wants to make a deal, and I think we will pretty soon either make a deal or do whatever we ​have to do,” Trump told reporters on March 15. “And so, we’re talking ​to Cuba, but we’re going to do Iran before Cuba.”

On Jan. 29, Trump signed an executive order imposing tariffs on any country that “directly or indirectly provides oil to Cuba,” a move that exacerbated fuel shortages in the Caribbean island nation.

In his order, Trump accused the Cuban regime of aligning itself with “hostile countries, transnational terrorist groups, and malign actors,” including Russia, China, and Iran, as well as U.S.-designated foreign terrorist groups Hamas and Hezbollah.

Cuban leader Miguel Díaz-Canel Bermúdez said on March 13 that his government has been negotiating with U.S. officials to identify and resolve any bilateral issues between the two nations.

These conversations have been aimed at seeking solutions, through dialogue, to bilateral differences that exist between the two nations,” Bermúdez said, according to a statement posted by Cuban Foreign Minister Bruno Rodríguez Parrilla on social media. “There are international factors that have facilitated these exchanges.”

A man pushes a tricycle past a jeep sporting a wheel cover featuring an image of the US flag in Havana on Jan. 23, 2026. Yamil Lage/AFP via Getty Images

Bermúdez said his officials have expressed that negotiations must be held “on the basis of equality and respect for the political systems of both states,” as well as their sovereignty.

“This is a matter that unfolds as part of a very sensitive process that is conducted with seriousness and responsibility, as it affects the bilateral relations between the two nations and requires enormous efforts to find solutions and create spaces for understanding that allow us to move away from confrontation,” he said.

Cuban leader Miguel Diaz-Canel consoles relatives of some of the 32 Cuban soldiers killed during the U.S. operation that captured Venezuelan leader Nicolás Maduro, during their funeral at Colon cemetery in Havana on Jan. 16, 2026. Adalberto Roque/AFP via Getty Images

Trump said last week that Cuba currently faces severe humanitarian challenges amid disruptions in imported oil and is eager to negotiate with the United States. He also said there could be a “friendly takeover” of the nation, but also said that “it may not be a friendly takeover.”

Tyler Durden
Mon, 03/16/2026 – 15:25

Silver’s Endgame: Almost Too Obvious

Silver’s Endgame: Almost Too Obvious

Authored by Matthew Piepenburg via VonGreyerz.gold,

The case for silver is now almost too obvious.

Silver’s Fat Pitch

Like many Americans, I grew up playing a fair amount of baseball. Part of this involved trying to hit a little round ball with the equivalent of a modified, wooden stick.

Like asset prices and market forces, this little white ball, thrown by a pitcher 60 feet away, could sink, curve or speed by you in bewildering and often embarrassing ways.

Sometimes, however, we hitters of that ball would be blessed with what is called a “fat pitch”—that is, a ball thrown so comfortably straight, clear and trackable that it was effectively impossible to miss.

Below, I’ll show why the set-up we are currently seeing in the global silver market is precisely that: A fat pitch.

Prior Silver Curve Balls

Of course, silver markets, like baseball players, have also seen a lot of curve balls and crazy swings.

We saw recent versions of this in December of 2025, when the COMEX price-fixers, with a little help from the Chicago Mercantile Exchange, or CME, raised margin prices to force a mass-selloff (i.e. price-fall) of the metal.

When that pitch failed, the COMEX threw another, far more effective margin hike (or “curve ball”) in late January of 2026 to openly engineer the single-worst silver price crash in 44 years.

The reasons for these tricky pitches at the COMEX were obvious. The big players (i.e., banks) going net-short silver were literally dying under the weight of silver’s rising price moves.

Not so coincidently, the CME/COMEX then initiated another, more effective, margin hike and thereby bailed the insider banks out of the mother of all short-squeezes.

There was no price discovery, but blatant price manipulation, as fixed/rigged as the 1919 World Series. (Ironically, both the CME and the cheating, 1919 White Sox hailed from Chicago…)

But as I argued in January, such a rigged game was nothing new. The COMEX has been playing it for decades, from defeating the Hunt Brothers’ silver bid in the 1980’s (with a sell-only trick) to crushing the “Reddit mob’s” attempt to bring honest demand (and pricing) to silver in 2021.

In short, the COMEX, and the banks who effectively self-regulate it, threw a lot of curve balls which were difficult to beat.

But as we enter the 2026 macro playing field, it is the COMEX itself which is about to strike out, and this bodes extremely well for silver.

Here’s why.

Silver: About to Hit a Homerun

The set-up for silver is now nothing short of extraordinary. In fact, it is unprecedented.

At 30,000 feet, the big picture remains the same. That is, as currencies are debased to monetize unsustainable sovereign debt levels, monetary metals like silver outshine dying paper currencies.

It’s really that simple.

But the more nuanced, and often misunderstood, tailwinds for silver are a bit more complicated, though entirely clear once you know where to look.

And the first place to look is at the COMEX itself, where silver (like gold) has been manipulated downwards for decades. We’ve covered the motives, means and symptoms of this COMEX price fix in greater detail elsewhere.

What is worth noting here, however, is critical. That is, once the physical silver leaves the COMEX, the artificial price-fixing charade ends, and silver naturally rips higher.

Paper Claims vs. Physical Demand

Traditionally, for example, paper claims on silver (and gold) never resulted in actual delivery out of the COMEX. Instead, the contracts were simply rolled over or cash-settled.

But those days are ending.

As of this writing, there are more paper claims (“open interest) on the COMEX silver exchange than there are actual ounces of “registered” silver to meet delivery. In fact, there’s only about 80 million ounces on hand to meet over 570 million ounces of delivery demand.

That’s a levered mismatch of 7:1 at the COMEX.

If we then consider the larger silver market itself, including ETF silver, derivative claims, futures contracts, etc., many analysts in the commodity space are quoting the number of paper silver claims to actual silver ounces at a ratio of 350:1.

Read that last line again.

No Chairs Left

If one were to think of the paper silver market as a game of musical chairs in which the “music” represents the actual amount of physical silver available and the “chairs” represents the number of paper claims on it, the supply & demand ratios above make it mathematically clear that once the music stops, there’ll be very chairs left standing with silver.

Or stated more simply, percolating physical silver demand is about to hit a supply shock, which means silver is poised to skyrocket.

And if you look at the COMEX silver flows, you’ll quickly discover that the music is slowing down.

January applications for silver deliveries at the COMEX, for example, came in at 40M ounces, which was 40X the normal delivery rate.

A more recent delivery took 20% off the COMEX inventory in a week. (I have no proof, but I’m guessing the buyer here was JP Morgan…)

Looming Delivery Failure

At this exit pace, it’s at least plausible that the COMEX could see a bald failure of physical delivery within 90 days.

In such an event, the COMEX silver trade would be reduced to a cash-only trade, a possibility I warned of in January.

But this, of course, would only happen if one assumed the COMEX wouldn’t declare some kind of emergency in the interim, which we can be almost sure they will…

Nevertheless, the screws are now undeniably tightening on this New York exchange in ways we’ve never seen before.

This classic mismatch of supply and demand in the silver space is unprecedented, and whether the price-fixers in New York like it or not, supply and demand forces still matter, and they can be powerful forces…

Supply Deficits Colliding with Rising Demand

For example, and as most silver investors know, this metal has seen five consecutive years of supply deficits at 200M ounces/year, now aggregating to a deficit of nearly 1 billion ounces. China’s recent export restrictions for silver, moreover, aren’t helping supply flows.

Meanwhile, in the silver future’s market, we are seeing backwardation, a fancy way of saying that current prices are higher than future prices, which is a screaming signal of high demand colliding with low supply.

These factors help explain why the current lease rate for silver is at 8% levels, whereas for the bulk of my entire investing career, the lease rate had never surpassed 1%– until now.

Combine such evidence of a supply shock with silver’s rising industrial demand (60% of silver’s demand is industrial) in everything from solar panels to the missiles now cris-crossing Middle Eastern skies, and we see all the makings of a historical price hike in the metal.

After all, the silver supply can’t be magically increased with just the touch of a button. 70% of silver production comes as a byproduct of other mining.

This means there’s no silver supply miracle on the horizon.

And Then There’s War…

What IS filling our horizon, however, is the fog of war and hence the fog of oil. Supply shocks matter to oil just as much as they do to any asset, including silver.

As crude oil rises thanks to tightening flows in the Strait of Hormuz, so does inflation, and for every $10.00 rise in oil, we see a 0.1% rise in even our otherwise openly bogus inflation scale.

And as inflation rises, as it will, the monetary profile of silver just gets another tailwind as an anti-fiat metal.

Back to Baseball

Which brings me back to my original point and metaphor.

When one combines silver’s monetary profile with its rising industrial demand in a backdrop of historical supply deficits, COMEX delivery failures, rising lease prices, futures market backwardation, and all that is inherently backward as to war and rising oil, we arrive at what comes to nothing more than an unprecedented “fat pitch” for silver.

Batter up.

Tyler Durden
Mon, 03/16/2026 – 14:40