Authored by GoldFix’s Vincent Lanci via ScottsdaleMint.com,

Financed by JPMorgan, Jointly Owned by US DoD

Under the plan, the U.S. Department of Defense will hold a 40% stake in the JPM Financed smelter joint-venture.

GFN – WASHINGTON: Korea Zinc plans a $7.4 billion investment to construct a large-scale non-ferrous metals smelter in Clarksville, Tennessee, a project U.S. officials say will materially expand domestic critical minerals processing capacity and strengthen supply chain security.

Proposed site of the Clarksville, Tennessee smelter

The project, known as the “U.S. Smelter,” is expected to require approximately $6.6 billion in capital expenditures, with total investment reaching $7.4 billion including financing costs. It is being developed in coordination with the U.S. Department of War and the U.S. Department of Commerce, according to project materials and government statements.

Deputy Secretary of War Steve Feinberg said the investment reflects a strategic shift in U.S. industrial and defense priorities.

“President Trump has directed his Administration to prioritize critical minerals as essential to America’s defense and economic security,” Feinberg said.

“The Department of War’s conditional investment of $1.4 billion to build the first U.S.-based zinc smelter and critical minerals processing facility since the 1970s reverses decades of industrial decline. The new smelter in Tennessee creates 750 American jobs and expands access to strategic minerals across aerospace, defense, electronics, and advanced manufacturing.”

Timeline of U.S. metals refining capacity since the 1970s

The Tennessee facility will be the first zinc refinery built in the United States in more than 50 years and will operate as an integrated smelter capable of producing 13 non-ferrous metals. Most of these materials are designated as critical minerals by the U.S. government due to their role in defense production, advanced electronics, and energy systems.

Under the current framework, the Department of War will arrange approximately $2.15 billion in financing alongside private investors. The Department of Commerce will provide $210 million in funding under the CHIPS Act to support domestically sourced equipment, with JPMorgan assisting in structuring the financing.

IEA outlook for global critical minerals demand under STEPS, APS, and NZE scenarios

U.S. officials have described the project as an example of allied cooperation to secure supply chains amid rising competition for strategic resources. Josh Phair, founder and CEO of Scottsdale Mint, said in a recent Yahoo Finance interview, “We’re in a metals war’. and securing supply is crucial now

Secretary of Commerce Howard Lutnick said the investment would expand U.S. production of strategically important minerals.

“Korea Zinc’s critical minerals project in Tennessee is a transformational deal for America,” Lutnick said.

“The United States will produce, in volume, 13 critical and strategic minerals vital to aerospace and defense, semiconductors, AI, quantum computing, autos, industrials, and national security.”

Korea Zinc plans to deploy technical personnel and operational expertise from its Onsan Smelter in Ulsan, South Korea, during early project phases. Onsan is the world’s largest single-site non-ferrous smelting complex and is known for processing low-grade and complex materials, including scrap with high impurity content.

North America’s role in global critical minerals mining and refining

Company officials said transferring this integrated zinc-lead-copper processing capability is intended to reduce commissioning risk and position the Clarksville facility among the most advanced smelters globally. Producing within the United States is also expected to reduce exposure to trade restrictions and logistics disruptions while enabling local sourcing of scrap and raw materials.

Despite government backing, the project has prompted shareholder resistance. An alliance led by MBK Partners and Young Poong has opposed the U.S.-backed joint venture, citing concerns over potential share dilution and governance control. The group has indicated it may seek legal action to block new share issuance.

Korea Zinc shares rose more than 26% following the project announcement before declining by over 13% as shareholder opposition became public.

Once fully operational, the U.S. Smelter is expected to process approximately 1.1 million tons of raw materials annually and produce roughly 540,000 tons of finished products.

Smelter output mapped to U.S. critical minerals list

Planned output includes base metals such as zinc, lead, and copper; precious metals including gold and silver; strategic minerals such as antimony, indium, bismuth, tellurium, cadmium, gallium, germanium, and palladium; and chemical products including sulfuric acid and semiconductor-grade sulfuric acid.

According to project disclosures, 11 of the 13 metals qualify as critical minerals under the 2025 U.S. Geological Survey list. Several, including indium and gallium, are fully import-dependent in the United States.

Site preparation is scheduled to begin in 2026, followed by full construction in 2027.

Phased commercial operations are expected to start in 2029, initially focused on zinc, lead, and copper production.

Clarksville was selected due to existing industrial infrastructure, including Nyrstar’s current zinc smelter, the only operating zinc refinery in the United States. Korea Zinc plans to acquire Nyrstar’s U.S. operations, subject to conditions, dismantle the existing facility, and replace it with a larger, modern plant.

Project planners also cited strong transportation links, favorable site conditions, a skilled local workforce with decades of smelting experience, and relatively low electricity costs, a key factor in smelting economics.

Chairman Yun B. Choi said the project aligns with long-term U.S. and South Korean economic security objectives.

“With its project in the United States, Korea Zinc will strengthen its role as a strategic supplier of essential minerals for aerospace and defense,” Choi said.

“This project will serve as a model for U.S.–ROK economic security cooperation at a time of heightened geopolitical risk.”

GoldFix Analysis: Why the Tennessee Smelter Matters

The Korea Zinc investment fits into a broader pattern across commodities, trade policy, and financial market structure. Recent developments point toward a renewed emphasis on supply security and domestic control over critical industrial inputs.

U.S. policy has increasingly focused on securing domestic processing capacity for materials already designated as critical. Mining location remains relevant, but refining and smelting capacity determines throughput control, resilience under stress, and bargaining leverage. The Tennessee project expands that capacity inside the United States for materials that have largely been processed offshore.

Josh Phair, CEO of Scottsdale Mint has previously linked metals availability to industrial positioning, noting that the rapid build-out of U.S. data centers and infrastructure requires reliable access to physical inputs.

“These data centers that are getting created so fast in the United States, the U.S. has to have it [silver] to protect its position in the world.”

The investment also aligns with policy actions aimed at reducing reliance on China-centered supply chains. Export controls, strategic stockpiling, and industrial subsidies have moved in the same direction. The smelter adds physical infrastructure to that framework, supported by defense and commerce financing and built in cooperation with an allied producer.

The financing structure adds another layer. JPMorgan Chase is involved in arranging financing for the project. Over recent months, JPMorgan has also reduced silver held in COMEX registered inventories and sourced physical metal from Latin America. These actions reflect activity in physical markets where logistics, jurisdiction, and custody increasingly influence procurement decisions.

Why JPMorgan’s 232 Advice Matters

JPMorgan sits at the center of the global silver ecosystem as demonstrated above. Its role as custodian, intermediary, and counterparty across physical markets, derivatives, and sovereign channels places it at the intersection of nearly all meaningful silver flows. Activity associated with JPMorgan therefore carries informational value.

Under Section 232 the United States does not restrict commodities it still needs to accumulate. Tariffs follow supply security, not the other way around.

Once domestic and hemispheric supply chains are deemed sufficient, pricing mechanisms change. Tariffs need not target silver explicitly to reshape its price. Broad commodity measures are enough. But tariffs could come anyway

Because the United States remains the marginal buyer at scale, if it did implement tariffs, its pricing decisions propagate globally. The tariff level becomes the reference price, as sellers rationally seek the highest available bid. JPMorgan is helping the US position itself as self sufficient in metals and at some point, price will rise even further pursuant to rule 232 if it is implemented for Copper (likely) and Silver (perhaps)

Update (1355ET):

Minnesota Gov. Tim Walz appeared defeated during a press conference around noon as he finally addressed the Somali-linked fraud scandal that has ended his re-election bid.

Walz’s team has shifted from dismissing those who questioned or investigated the Somali-linked daycare and autism fraud as “racist” or “Islamophobic” to now acknowledging that serious corruption occurred under its leadership.

Walz still found time to attack Trump and Republicans, blaming them for “seeking to take advantage of a crisis. I don’t want to mince words here. Donald Trump and his allies in Washington, in St. Paul, and online want to make our state a colder, meaner place.”

The disgraced governor continued:

We’ve got Republicans here in the state legislature playing hide-and-seek with potential whistleblowers. We’ve got conspiracy-theorist right-wing YouTubers breaking into our daycares, demanding access to our children. We’ve got the President of the United States demonizing our Somali neighbors and wrongfully confiscating funds that migrants rely on.

Near the end of Walz’s press conference, he announced he was dropping out of the governor’s race, saying he wants to spend 2026 on governance, not politics.

Journalists were stunned when Walz dodged questions.  

🚨 LMAO! Reporters at Tim Walz’s press conference were AUDIBLY ticked off by Walz RUNNING AWAY from his press conference without taking questions

Sorry guys, Tim has to go change his tampon.

This clown is down so bad 🤣
pic.twitter.com/X8dlQsn6k8

— Nick Sortor (@nicksortor) January 5, 2026

The optics here are very damaging to Walz and the greater Democratic Party. This America First push to uncover state-level fraud is likely to spread to other blue states (read here), further discrediting left-wing politicians accused of plundering taxpayers. All just in time for the midterm election cycle.

Citizen journalist 1, left-wing politician 0. 

I ENDED TIM WALZ

— Nick shirley (@nickshirleyy) January 5, 2026

Next up.

With Tim Walz expected to drop out of the Governor’s race, should Nick Shirley investigate fraud in California next? pic.twitter.com/5tLMZx2QKy

— TaraBull (@TaraBull) January 5, 2026

* * *

Update (0950ET):

The Wall Street Journal has confirmed our earlier report that left-wing Minnesota Gov. Tim Walz, embattled by alleged Somali-linked welfare fraud in his state, has ended his bid for a third term.

“As I reflected on this moment with my family and my team over the holidays, I came to the conclusion that I can’t give a political campaign my all.”

“Every minute I spend defending my own political interests would be a minute I can’t spend defending the people of Minnesota against the criminals who prey on our generosity and the cynics who prey on our differences.”

“So I’ve decided to step out of the race and let others worry about the election while I focus on the work.”

Minnesota has to come first – always.

Today, I’m proud of the work we’ve done to make Minnesota the best place to live and raise kids.

I’ve decided to step out of the race and let others worry about the election while I focus on the work. pic.twitter.com/AYbvcOzyPI

— Governor Tim Walz (@GovTimWalz) January 5, 2026

The mere fact that Walz is not seeking a third term is optically damaging for Democrats, as it effectively amounts to an admission that the Somali-linked welfare fraud is very real, despite Democrats labeling anyone who investigated or reported on it as “racists.” This is also terrible news for MSM outlets that attempted to downplay the investigations.

Over the weekend, President Donald Trump and Elon Musk reportedly had a “lovely dinner,” suggesting that Musk could return to government to clean up corruption not just in Washington but also to unleash a new era of DOGE-style efforts focused on state-level fraud.

As we’ve noted, the Somali-linked Minneapolis fraud has shifted the sentiment of Americans to be more receptive towards DOGE-like efforts resurfacing, as fraud schemes being unveiled are absolutely insane, such as the report that some of the taxpayer funds in Minneapolis ended up in the hands of overseas terrorists.

Axios noted, “Democrats have won every statewide office in Minnesota since 2006, and most political forecasts continue to rate next year’s race in their favor.”  

Last month, longtime Trump loyalist and MyPillow CEO Mike Lindell announced that he is running for governor of Minnesota.

“I want you to know that I will stand for you as the next governor of the state of Minnesota,” Lindell said.

Lindell also said, “I will stand for you against the rampant fraud under Governor Walz; I will stand with you against crime that threatens the safety of you and your family… I’ll stand for you against unnecessary regulation that strangles the entrepreneurial spirit.”  

Musk is right. Let’s start with the flag. 

Put the flag of Minnesota back https://t.co/rURLQjJb3l

— Elon Musk (@elonmusk) January 5, 2026

Adios Walz. 

And so we bid adieu or whatever they say in Somali to Traitor Tim https://t.co/TWKzJyUzyH

— Elon Musk (@elonmusk) January 5, 2026

Terrible optics for Democrats. 

*   *   * 

A Minnesota-based political analyst reported late Sunday night on X that embattled Gov. Tim Walz is expected to make a major announcement Monday morning regarding the future of his political career, as national scrutiny intensifies over an alleged multi-billion-dollar Somali-linked welfare fraud scheme involving daycare centers and autism clinics in the state.

“BREAKING: Sources: Gov. Tim Walz will make an announcement about his political future Monday. He’s likely to drop out of the 2026 mngov race,” Minnesota political analyst Blois Olson wrote on X.

🚨 BREAKING: Sources: @govtimwalz will make announcement about his political future Mon. He’s likely to drop out of the 2026 #mngov race.

He met w/ @SenAmyKlobuchar on Sun. Full analysis in tmrw https://t.co/4zJJytH4Aw + live on @wccoradio at 6:20AM w/ @vsawkar

— Blois Olson (@bloisolson) January 5, 2026

Olson has been a political analyst and longtime contributor to WCCO Radio in the Twin Cities area, making him a seasoned political observer who appears to have some inside information on Walz’s likely decision later this morning.

Local TV station KARE 11 reports that Walz plans to hold a press briefing at 11:00 a.m. local time. However, the outlet noted that Walz’s office has not confirmed the briefing’s topic.

Hamline University political science professor David Schultz told the outlet that Walz faces a massive uphill battle in winning a third term.

“It’s possible, but it’s going to be very difficult,” Schultz said, adding that no Minnesota governor has managed to secure a third term.

The timing of Walz’s news briefing comes as the nation has been shocked by the alleged Somali-linked welfare fraud that has occurred under leftist Walz and the Democratic Party in the state.

In 2021, Tim Walz awarded Ayan Abukar the “Outstanding Refugee Award.”

In 2023, Abukar was INDICTED for fraud.

And yet, Walz still wants to blame President Trump for the massive fraud scheme in Minnesota. pic.twitter.com/wXmpBRllwx

— Christian Collins (@CollinsforTX) January 2, 2026

Assistant U.S. Attorney Joe Thompson said last month that he believes the total amount defrauded from 14 Medicaid programs in Minnesota could exceed $9 billion.  

“What we see in Minnesota is not a handful of bad actors committing crimes,” Thompson told reporters. “It’s a staggering industrial-scale fraud. It’s swamping Minnesota and calling into question everything we know about our state.”

Recall that Walz, Rep. Ilhan Omar (D-Minn.), and other Democrats attempted to combat welfare fraud accusations with the “racist” card against anyone investigating daycares and autism clinics in the state. That strategy is no longer working. The era in which the Democratic Party could shield itself behind race to deflect corruption is over.

More importantly, as Christopher Rufo’s reporting indicates, the welfare fraud scheme has escalated into a national security concern, given allegations that some of these taxpayer funds ultimately flowed to a terrorist group in Somalia.

Related:

• MN Lawmaker: Walz Team Threatened Whistleblowers With “Racism” & “Islamophobia” Slurs To Hide Somali Fraud

• Trump Ends TPS For Somalis In Minnesota After Explosive Report Reveals Welfare Fraud Network Funding Overseas Terror

• MSM Panics After Nick Shirley Bombshell As CBS Pledges To Start Reporting Real News

• SBA Suspends 7,000 Minnesota Borrowers Over “Suspected Fraudulent Activity”

• Front Companies? Bombshell Report Exposes Network Of Somali-Linked “Empty” Daycares Across Minnesota

• HHS Freezes Childcare Payments Nationwide After Bombshell Somali-Linked Daycare Fraud Allegations In Minnesota

Furthermore, shame on the corporate media for downplaying and even attempting to discredit Nick Shirley’s reporting. MSM was exposed as acting more like a PR operation than a news organization, with CBS reportedly panicking as the story went viral.

Via The Cradle

The two largest US newspapers learned in advance of the secret US raid to abduct Venezuelan President Nicolas Maduro, but chose not to publish what they knew to avoid endangering US troops, Semafor reported on 4 January, citing two people familiar with the matter.

Despite their hostility toward US President Donald Trump regarding domestic issues, the New York Times (NYT) and Washington Post cooperated with his administration ahead of the operation to attack Venezuela.

US forces deployed more than 150 aircraft to eliminate air defenses, clearing the way for helicopters to insert troops who then moved on to President Maduro’s location.

After Maduro and his wife were abducted, President Trump and top administration officials praised the operation, citing both the lack of US casualties and the total secrecy surrounding it, including from the media.

“The coordination, the stealth, the precision, the very long arm of American justice – all on display in the middle of the night,” Pentagon chief Pete Hegseth said.

Trump approved the assault at 10:46 pm Friday. Though aware of the decision, the NYT and Washington Post waited several hours before reporting it because the White House had warned that doing so would expose US troops performing the operation to danger.

However, the decision also showed disregard for the lives of Venezuelans.

US airstrikes accompanying the commando operation killed 40 people, including civilians and military personnel, a senior Venezuelan official told the NYT on Saturday.

One strike targeted a three-story civilian apartment complex in Catia La Mar, a poor coastal area just west of the Caracas airport, killing an 80-year-old woman, Rosa González, and seriously wounding a second person.

The leaks to the Press regarding the Venezula mission is dangerous. Anyone who saw those plans needs to be polygraphed.

— Rep. Anna Paulina Luna (@RepLuna) January 5, 2026

Following the airstrikes, US President Donald Trump announced that US forces had “captured” Maduro and his wife, also telling reporters that Maduro had “offered everything” to the US, from Venezuelan oil and natural resources to mediation, according to reporters.

Spokespersons for the White House, the Pentagon, and the Washington Post declined to comment on the conversations between journalists and officials Friday night. A NYT spokesperson did not immediately respond to an inquiry.

Authored by Steve Watson via Modernity.news,

Senate Minority Leader Chuck Schumer is rushing to block President Trump’s successful operation to arrest Venezuelan dictator Nicolás Maduro, labeling it “lawlessness” and a violation of congressional authority—despite Schumer himself and a string of Democrats and their media mouthpieces previously blasting Trump for failing to end the Maduro regime.

With Maduro now in custody and the U.S. overseeing a transition in Venezuela, Democrats have immediately cried foul, with Schumer appearing on ABC’s “This Week” to decry the move as unauthorized nation-building that will cost American lives and dollars.

Schumer declared, “The American people this morning are scratching their heads in wonderment and in fear of what the president has proposed,” adding, “We have learned through years when America tries to do regime change and nation building in this way, the American people pay the price in both blood and in dollars.”

Senate Minority Leader Chuck Schumer criticizes the U.S strike in Venezuela and capture of Venezuelan President Nicolas Maduro: “It’s a violation of the law to do what they did without getting the authorization of Congress.” https://t.co/aSFDwCl1fl pic.twitter.com/6XgO2OVWwi

— ABC News (@ABC) January 4, 2026

Schumer further accused the Trump administration of bombing civilian sites and vowed to introduce a War Powers Act resolution, co-sponsored with Tim Kaine and Rand Paul, to halt further actions without congressional approval. “If it’s voted positively in both houses, then the president can’t do another thing in Venezuela without the OK of Congress,” Schumer stated.

Yet, this is the same Schumer who, in 2020, ridiculed Trump’s Venezuela policy for not going far enough. In a Senate floor speech, he declared, “The President brags about his Venezuela policy? Give us a break. He hasn’t brought an end to the Maduro regime.”

2020. Chuck Schumer criticizes Trump for not bringing an end to the Maduro regime.

Schumer: “The President brags about his Venezuela policy? Give us a break. He hasn’t brought an end to the Maduro regime.” pic.twitter.com/kMkwSWd0yl

— MAZE (@mazemoore) January 4, 2026

The contrast couldn’t be starker: back then, Democrats demanded action against the narco-terrorist indicted on drug trafficking charges; now, they defend the status quo to spite Trump.

Democrats and their media allies are suddenly Maduro apologists, despite the fact that during Trump’s first term and beyond, they relentlessly pushed for the dictator’s removal, tying Maduro’s survival to Trump’s alleged weakness.

Watch: Sen. Chris Murphy just last year urging action against Maduro, only to flip and call Trump’s operation to remove him corrupt and unrelated to U.S. security.

Chris Murphy in 2024.pic.twitter.com/ZraWqvp8Xn https://t.co/PaOXDKuA0q

— MAZE (@mazemoore) January 4, 2026

Murphy has been beating this drum since 2019. Now suddenly, he’s against it? Clown.

“getting rid of Maduro is good for the United States” – Chris Murphy, 1/23/19

What happened, Chris? https://t.co/trUmFj8kZc

— Kevin M. Nelson (@KevinMNelsonUSA) January 4, 2026

Watch: Sen. Chris Van Hollen echoed the call in 2024, declaring Maduro “absolutely lost the election, is not legitimate, and has to be removed from power.” His about-face now is laughable.

Here’s the grifter known as Chris Van Hollen in 2024 declaring that Maduro absolutely lost the election, is not legitimate, and has to be removed from power. https://t.co/p8Ayyq5yDx pic.twitter.com/k4rwJCjyFt

— MAZE (@mazemoore) January 4, 2026

Watch: Rachel Maddow, in September 2024, lumped Maduro with dictators like Putin and Kim Jong Un, saying, “They want no one anywhere to think it is possible let alone desirable to throw a strong man out.” Now, with Trump succeeding where Biden failed, Maddow’s silence speaks volumes.

September, 2024. Rachel Maddow: Putin, Maduro, Trump, Kim Jong Un, and Xi Jinping are all the same.

Maddow: “They want no one anywhere to think it is possible let alone desirable to throw a strong man out.”

Nice call Madcow. pic.twitter.com/IH8hhu0VOF

— MAZE (@mazemoore) January 4, 2026

Leftists and Dems all over MSNBC and CNN repeatedly claimed Maduro’s hold on power proved Trump was “Putin’s puppet,” ignoring how Biden’s policies later empowered the regime.

During Trump’s first term Maduro stayed in power after an illegitimate election.

The MSM/Democrats repeatedly claimed that Maduro remaining in power was proof that Trump was “Putin’s puppet.”

Everyone in this video will now be condemning Trump. It’s so pathetic. pic.twitter.com/EpCcOxESNP

— MAZE (@mazemoore) January 3, 2026

Flash back to 2019: Bipartisan applause in Congress when Trump recognized Venezuela’s legitimate leader over Maduro. Democrats cheered then; now they whine.

2019. A rare bipartisan clap for Trump after he recognizes the true winner of the Venezuelan election.

In 2024 Maduro lost another election but he stayed in power. The Biden Admin began seizing some of his assets, including his plane. Many democrats called for him to be removed… pic.twitter.com/0el6qNoJP9

— MAZE (@mazemoore) January 3, 2026

The hypocrisy peaks in Democrats’ past smears portraying Trump as Maduro’s ideological twin, craving the same authoritarian control.

The talking point was relentlessly hammered: Trump supposedly wants to be like Maduro, depriving people of freedom. They insisted Trump praises leaders like Maduro for their iron-fisted rule. Where are they now?

Democrat talking point repeated regularly during the Biden years.

Maduro is one of the worst people alive and Trump wants to be just like him. pic.twitter.com/uraZDCY6Im

— MAZE (@mazemoore) January 3, 2026

“Fascism expert” Ruth Ben-Ghiat claimed in 2024 that Trump admires Maduro’s deprivation of freedoms. Her “expertise” crumbles now that Trump freed Venezuelans from that very tyranny.

2024. Ruth Ben-Ghiat (professor and so called “expert” on fascism and authoritarian leaders) says that Trump praises leaders like Maduro because he likes the way that they deprive their people of freedom.

What an expert. ? pic.twitter.com/W6fccS9LQI

— MAZE (@mazemoore) January 3, 2026

Even Rep. Jamie Raskin joined in last year, demanding the world oppose Maduro’s “right-wing attack on democratic institutions.”

Last year, demanding the world oppose Maduro because he’s “right wing.” ? https://t.co/CkmO6f9XSZ

— MAZE (@mazemoore) January 3, 2026

Predictably, Biden’s weakness invited this mess. In 2023, his admin eased sanctions on Venezuela for Maduro’s empty promise of fair elections—which he promptly stole in 2024, arresting opponents and clinging to power.

In 2023 the Biden Admin rolled back sanctions on Venezuela in exchange for a promise from Maduro that Venezuela would hold free and fair elections.

In 2024 Maduro lost the election, stayed in power, and had his opponents arrested or driven from the country. pic.twitter.com/PRBc8lpJjA

— MAZE (@mazemoore) January 3, 2026

Then after it became clear what was happening, the Biden administration moved to pave the way for Maduro to be ousted.

VENEZUELA: Biden raised Maduro’s bounty to $25M, declared him a fugitive, & denied him head of state immunity making it lawful for US troops to arrest him on Venezuelan soil. Democrats now call the arrest Biden enabled and authorized ‘illegal’. pic.twitter.com/23ffxTIzYZ

— @amuse (@amuse) January 4, 2026

This is all about blind opposition to Trump. Democrats would now rather prop up dictators than admit Trump’s policies are working. With Maduro gone, the U.S. secures its borders, cuts off narco-flows, and weakens globalist foes.

Their blatant hypocrisy exposes the Democrats’ terminal case of Trump Derangement Syndrome: they oppose anything Trump does, even if it aligns with their past demands, simply because it’s him doing it and they have no other direction to steer their sinking rat infested husk.

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.

Authored by John Rampton via The Epoch Times (emphasis ours),

Usually, tax laws are tweaked as we enter a new year. However, 2025 isn’t just another tax year for retirees; it’s expected to be among the most consequential in recent history.

As a result of new legislation, such as the One Big Beautiful Bill Act (OBBBA), and continuing changes from the SECURE 2.0 Act (SECURE refers to Setting Every Community Up for Retirement Enhancement.), these updates will present both opportunities and challenges. While some retirees will enjoy extra relief, others may need to adjust their financial strategy.

Understanding how these new rules will affect you is essential if you live on a fixed income, manage your retirement savings, or plan your legacy. As such, to achieve a secure and confident retirement, your planning must be informed.

With that said, here are the biggest 2025 tax changes—and what they mean for retirees.

The Big Headline: A New $6,000 ‘Bonus’ Deduction for Seniors

Easily one of the most talked-about changes for 2025 is a new deduction specifically for seniors.

In addition to existing deductions, anyone 65 or older will be able to claim an additional $6,000 deduction in 2025. For married couples at least 65 years of age, that amount can be doubled to $12,000.

So, who qualifies? You can take this “bonus” deduction even if you itemize your deductions or take the standard deduction. It is, however, phased out at higher income levels:

• Single filers. When modified adjusted gross income (MAGI) reaches $75,000, it gradually phases out until it disappears at $175,000.

• Married filing jointly. The starting point is $150,000, with a maximum of $250,000.

Since this deduction stacks with the existing senior and standard deductions, retirees can lower their taxable income and possibly eliminate their federal tax liability.

A quick example:

Say you’re over 65 and a single filer. If you qualify, you may be eligible for:

• Standard deduction: $15,750

• Age 65+ addition: $1,750 (approx.)

• New senior “bonus” deduction: $6,000

• Total: More than $23,500 in deductions.

In a married couple with both spouses over 65, that amount can be $46,000, which moves many retirees into the zero-tax bracket, mainly if they rely primarily on Social Security and modest individual retirement account (IRA) withdrawals.

(Note: This new deduction is temporary and currently set to expire after the 2028 tax year.)

Income Tax Brackets and Rates: Stability at Last

Although deductions are rising, tax rates are also improving. In the new tax system, seven tax brackets will be permanent: 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent, and 37 percent.

In other words, retirees will be able to plan long-term with greater security, since there will be no sudden hikes or sunset provisions in 2026.

Bonus tip: With today’s tax rates still relatively low, 2025 may be a good time to consider a Roth conversion. By converting pre-tax traditional IRA or 401(k) funds to Roth accounts, you will pay taxes at today’s rates and then withdraw those funds tax-free in the future. By making this move, you can hedge against future tax increases or the eventual expiration of that senior “bonus” deduction.

Itemized Deductions: A SALT Cap Adjustment

Furthermore, the OBBBA temporarily increases the limit on state and local tax deductions (SALT) from $10,000 to $40,000 through 2029. By itemizing again rather than taking the standard deduction, many retirees can reap significant benefits.

Here’s how it works:

Higher SALT Cap

From 2025 to 2029, you can deduct up to $40,000 in state and local taxes—$20,000 if married and filing separately. And in 2030, the $10,000 limit will return.

Income Phaseout

• The full $40,000 deduction applies if your MAGI is under $500,000.

• An annual MAGI of $500,000–$600,000 will be phased out by 30¢ per dollar.

• The MAGI cap will again be set at $10,000 when the MAGI exceeds $600,000.

• Through 2029, these thresholds will rise by 1 percent per year.

Whether you itemize or not, retirees aged 65+ can claim an additional $6,000 deduction per person (2025-2028), which is not subject to the SALT cap. It is possible for a couple with both spouses over 65 to claim an extra $12,000 in deductions.

Additionally, this phase-out begins at $75,000 MAGI (single) and $150,000 (joint).

That’s a lot to take in. To help you plan for the year 2025, here are a few tax planning tips:

• In addition to any senior deductions, compare your total itemized deductions (with the higher SALT limit) against the $31,500 standard deduction for married couples.

• To maximize your deduction for 2025, consider prepaying your 2026 property taxes before the end of the year.

• When approaching phaseout levels or planning Roth conversions, be sure to manage your MAGI carefully.

• Due to AMT rules, SALT deductions are not applicable.

The SECURE 2.0 Act: Big Retirement Account Updates

Several key provisions of the SECURE 2.0 Act take effect in 2025, reshaping how retirees and near-retirees can save, give, and plan for income in later life.

‘Super’ Catch-Up Contributions (Ages 60–63)

There’s a powerful new savings boost coming to people between 60 and 63 in 2025. By introducing “super” catch-up contributions, the limit on annual catch-up contributions is raised to $10,000 or 150 percent of the standard catch-up amount. According to the 2024 limits, that’s $11,250.

By doing so, older workers can maximize savings during their final years of employment before retirement. Starting in 2026, the $10,000 base will be adjusted for inflation.

Expanded Qualified Charitable Distributions (QCDs)

For those who are 70½ and older, QCDs remain the most tax-efficient way to give. In 2025, you’ll be able to donate up to $108,000 (indexed) directly from your IRA to qualified charities—satisfying your required minimum distribution and avoiding taxes as well.

In addition, higher-income retirees can contribute a one-time $54,000 QCD to a charitable remainder trust or gift annuity, giving them more flexibility to support causes they care about while maintaining their income.

More Flexibility for Qualified Longevity Annuity Contracts (QLACs)

QLACs, which provide guaranteed income later in life, now have higher limits and fewer restrictions. In addition to the increase in maximum premiums (indexed), the old rule capping contributions at 25 percent is no longer in effect, allowing retirees to receive a higher level of guaranteed lifetime income.

Other Key 2025 Updates

Here are some other updates to keep on your radar.

Social Security Cost of Living Adjustment (COLA)

It’s estimated that in 2025, COLA will be around 2.5 percent, adding modestly to beneficiaries’ incomes.

However, higher benefits may cause an increase in your provisional income, resulting in a higher tax rate—up to 85 percent. As a result, deductions like the new $6,000 senior bonus are more valuable.

Estate Tax Exemption

In 2026, the OBBBA will permanently increase the federal estate tax exclusion to $15 million per individual, from $13.99 million. Combined, this amounts to $30 million in exclusions for married couples.

As a result of this law, the higher exclusion amount established by the 2017 Tax Cuts and Jobs Act (TCJA) will not expire.

Ultimately, retirees with high net worth should consider major gifts or estate transfers now before today’s limits expire.

The Bottom Line: Plan Your 2025 Pivot

It’s a mixed bag for retirees in 2025, with some big breaks and some ticking clocks.

Here are some tips for making the most of these opportunities:

• Recalculate your deductions. Determine how much income you can shield from taxes by adding up your standard, age-based, and “bonus” deductions.

• Review Roth conversions. Prevent future increases in tax rates by locking in today’s historically low rates.

• Max out catch-up contributions. Use the new $11,250 catch-up limit if you’re 60–63 and still working.

• Use QCDs wisely. By distributing your IRA funds to charities, you can reduce your taxable income and support a cause you believe in.

With these changes in place in 2025, you will be able to benefit from greater flexibility and security in your retirement plan.

The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.

Following the Trump administration’s military operation to forcibly remove Nicolas Maduro, the wife of Trump’s deputy chief of staff triggered panic in Denmark and Europe after posting a picture of a map on X showing Greenland overlaid with the American flag with the caption “SOON.” 

Her post drew a response from Denmark’s ambassador to the United States, Jesper Møller Sørensen, who wrote on X: “Just a friendly reminder about the US and the Kingdom of Denmark: We are close allies and should continue to work together as such. US security is also Greenland’s and Denmark’s security. Greenland is already part of NATO.”

Just a friendly reminder about the US and the Kingdom of Denmark: We are close allies and should continue to work together as such. US security is also Greenland’s and Denmark’s security. Greenland is already part of NATO. The Kingdom of Denmark and the United States work… https://t.co/CboKnlKgJL

— Jesper Møller Sørensen 🇩🇰 (@DKambUSA) January 4, 2026

Trump has been publicly mulling the purchase – or takeover – of Greenland since at least 2019, “with varying degrees of serious,” despite repeated international pushback from Danish leaders. 

On Sunday, Trump said the US needed Greenland “very badly” – renewing fears of a US invasion of the largely autonomous island that was a former Danish colony which still remains part of the Danish kingdom. 

In response, Greenlandic prime minister Jens-Frederik Nielsen accused Trump of “completely and utterly unacceptable” rhetoric, adding “Enough is enough.” 

“Threats, pressure and talk of annexation have no place between friends,” Nielsen said on Monday via social media. “That is not how you speak to a people who have shown responsibility, stability and loyalty time and again. Enough is enough. No more pressure. No more innuendo. No more fantasies about annexation.”

He did say that Greenland was “open to dialogue” if it came through appropriate channels in accordance with international law, “not random and disrespectful posts on social media.”

Prime Minister Mette Frederiksen said that if Trump attacks Greenland, it would mean the end of the NATO alliance.

“I believe one should take the American president seriously when he says that he wants Greenland,” he told Danish broadcaster TV2. “But I will also make it clear that if the US chooses to attack another NATO country militarily, then everything stops, including NATO and thus the security that has been established since the end of the Second World War.”

Greenlandic member of the Danish parliament, Aja Chemnitz – a representative of the Inuit Ataqatigiit party, said that while she doesn’t believe invasion is imminent, Greenlanders should “prepare for the worst.” 

“We should hope for the best and prepare for the worst. That’s the way I see it right now. We are in a situation that is concerning,” she told the Guardian, adding that Trump’s latest remarks were “the worst and most serious” of his threats to Greenland, and marked a “new world order.” 

The EU is also in a panic, which on Monday said it would not stop defending the principle of territorial independence, particularly when it comes to another member of the 27-member bloc, the Guardian reports.

“The EU will continue to uphold the principles of national sovereignty, territorial integrity and the inviolability of borders,” said EU lead foreign policy spokesperson, Anitta Hipper. “These are universal principles, and we will not stop defending them, all the more so if the territorial integrity of a member state of the European Union is questioned.”

Meanwhile, British PM Kier Starmer said on Monday that he supports the autonomy of Greenland, and agrees that Trump should stop making threats. 

German Foreign Minister Johann Wadephul on Monday echoed the sentiment, saying that the NATO alliance – to which Denmark belongs – could discuss strengthening its protection of Greenland if needed.

Leaders in Lithuania, Latvia, Estonia, Finland, Iceland, Norway and Sweden have also expressed support of Denmark, per Forbes. 

Speaking with reporters on Sunday aboard Air Force One, Trump said “We’ll worry about Greenland in about two months,” adding “Let’s talk about Greenland in 20 days.” Eh, ok. 

Watch Live:

And the arraignment circus begins. With world media cameras gathered outside the federal courthouse in Lower Manhattan and the court “perp walk” of Nicolás Maduro and his wife Cilia Flores set to take place at around noon (eastern), a gaggle of rival protest groups have gathered.

The opposing groups appear to number in the several dozens each, some holding “USA hands off of Venezuela” and “US out of Latin America” signs – while others are celebrating the US ouster of the longtime socialist strongman who was accused by Washington last July of ‘stealing’ the national election which kept him in power.

Threats and slogans are being hurled in both Spanish and English across police-erected barriers. They represent the political divide not only among the Venezuelan community in the US, but also with some among contingent accused of being “paid Left-wing agitators”. But we can also imagine that more simply anti-war Americans are among them, but also without doubt pro-socialist activists. The day is about to get a lot more interesting…

NOW: Confrontations and Clashes continue between Venezuelans and Pro-Maduro Protesters outside of the NYC Court where Maduro is being processed

Video by @yyeeaahhhboiii2 @FreedomNTV Desk@freedomnews.tv to license pic.twitter.com/X9KXzSJyWw

— Oliya Scootercaster 🛴 (@ScooterCasterNY) January 5, 2026

Some conservative pundits are claiming that among the most vocal protesters include Venezuelan-government linked agitators, or else diehard socialists. 

But amid a thick information war kicking into full gear, there’s reason to question all simplistic claims and counter-claims at this point:

🚨🇻🇪 BREAKING — Even Members of the Venezuelan Opposition Are Now Demanding Maduro´s Release. pic.twitter.com/a9cXmuD0K6

— ★★★★★ Pamphlets ★★★★★ (@PamphletsY) January 5, 2026

However, plenty of Libertarians, anti-war Conservatives, and even those among Trump’s MAGA base are standing against the brazen US military invasion of Venezuela, which Trump has long admitted is to essentially ‘get back’ control of the country’s significant proven oil reserves. 

BREAKING NOW: Chaos outside Manhattan federal courthouse as real Venezuelan exiles clash with pro-Maduro leftist protesters demanding his release.

The paid commie protesters have no idea what they are protesting. pic.twitter.com/liRTMVTsz9

— Gunther Eagleman™ (@GuntherEagleman) January 5, 2026

Meanwhile, a strong counterpoint to those quickly jumping on the regime change bandwagon…

MAGA Inc. for the last 36 hours: pic.twitter.com/zD8yNZkCfP

— Dave Benner, Nemesis of Neocons (@dbenner83) January 4, 2026

In Caracas, the government under Maduro’s VP and now Interim President Delcy Rodriguez has ordered police to arrest anyone who helped the US military invasion and capture of Maduro.

And will the CIA now get its Caracas base of operations back? The US is preparing to reopen its embassy in Caracas if President Trump authorizes.

* * *

That didn’t take long. At a moment Venezuela’s Nicolás Maduro and his wife Flores are set to appear before a New York federal judge on various drug-trafficking and gun-running related charges, his VP and now apparently Interim President Delcy Rodriguez is offering a huge olive branch.

This is unsurprising given the staunchly socialist, pro-Maduro number two under the ousted president is herself under immense pressure from Washington, and still facing down the barrel of Uncle Sam’s gun – or rather the collective might of the Pentagon’s persisting US naval blockade just off Latin America’s coast.

She’s quickly expressed her willingness to cooperate with the United States on the future of Venezuela, in a significant shift in tone following Maduro’s Friday into Saturday morning ‘shock’ abduction by US special forces.

“We consider it a priority to move towards a balanced and respectful relationship between the US and Venezuela,” Rodriguez wrote on Telegram Sunday.

And more than that, her following words convey willingness of Caracas to bend the knee: “We extend an invitation to the US government to work together on a cooperation agenda, aimed at shared development, within the framework of international law, and to strengthen lasting community coexistence,” she stated.

This emphases on a “cooperation agenda” is something that Maduro himself had desperately offered Trump, reportedly over the last several weeks, but this appeared too little, too late from the US admin’s perspective.

Rodriguez is watching from Caracas as Maduro gets hauled to court in front of media cameras:

Nicolás Maduro, the ousted Venezuelan president, and his wife were expected to appear at noon on Monday in federal court in Manhattan to face charges of drug trafficking and other crimes, two days after they were captured in a U.S. military raid in Caracas.

Mr. Maduro and his wife, Cilia Flores, were escorted off a helicopter in Downtown Manhattan on Monday morning and were being brought to the courthouse to face charges including narco-terrorism and conspiracy to import cocaine, according to an unsealed indictment. Their capture on Saturday followed a monthslong campaign by the Trump administration to drive out the autocratic leader.

He has arrived at the New York courthouse at this point, having been transported by amored vehicle after spending the night in a Brooklyn jail.

BREAKING: Nicolás Maduro surrounded by heavy security as he is transported to New York City court ahead of his arraignment. pic.twitter.com/2EqrMrNKxe

— Fox News (@FoxNews) January 5, 2026

President Trump has warned that if authorities in Venezuela fail to cooperate, the United States would carry out a second strike on Venezuela, noting that any decision to deploy ground troops there would depend on how the situation develops and how Venezuela responds.

He’s also meanwhile said the idea of launching an operation involving Colombia “sounds good” to him in comments Sunday, describing the country as being in serious trouble and claiming it is currently led by “a sick man” – and even suggested he won’t remain long in power.

It was actually Colombia which has requested an emergency meeting of the UN Security Council, set also for Monday. The South American country is a non-permanent member of the Council, and was supported by permanent members China and Russia.

Meanwhile the theft of Venezuelan assets has begun, with the Swiss government moving on Monday to freeze any holdings of Maduro and his associates “with immediate effect”.

“In doing so, the Federal Council aims to prevent an outflow of assets,” a Swiss statement said, stressing that “should future legal proceedings reveal that the funds were illicitly acquired, Switzerland will endeavor to ensure that they benefit the Venezuelan people.”

There’s a continued microscope on Caracas, and world media is also currently heavily focused on New York City where forcibly deposed President Nicolas Maduro is appearing Monday before a federal court.

But amid all the fast-moving developments, about a dozen tankers loaded with Venezuelan crude and fuel have ‘snuck out’ of Venezuelan waters in recent days, reportedly in dark mode – or with tracking transponders off.

Reuters says that all of the vessels are under US sanctions, with the publication pointing out that “The departures could be a relief for Venezuela’s state-run oil company PDVSA, which had accumulated a very large inventory of floating storage amid the U.S. blockade, begun last month, dragging the country’s oil exports to a standstill.”

The ‘rogue’ tankers and their being able to evade the US naval blockade were first flagged by maritime monitor TankerTrackers.com:

At least four of the departed tankers left Venezuelan waters through a route north of Margarita Island after briefly stopping near the country’s maritime border, TankerTrackers.com said, after identifying the vessels is satellite images.

A source with knowledge of the departures’ paperwork told Reuters that at least four supertankers had been cleared by Venezuelan authorities in recent days to leave Venezuelan waters in dark mode.

There’s been some degree of confusion related to the possibility that with Maduro now having been removed from power and in US custody, Washington might have altered or revised its full force “oil embargo” on Venezuela. 

But this means that these some dozen tankers will be offloaded to the Latin American country’s largest customers, foremost among them China.

With Maduro out, has there indeed been a quick shift in US posture?

For now, China’s impacted Venezuelan imports will be cushioned by the significant amount of tankers still at sea, per fresh reporting from Bloomberg:

“The loss of Venezuelan barrels hurts teapots the most,” said Michal Meidan, director of the China Energy Program at the Oxford Institute for Energy Studies. They account for roughly half of China’s imports from the South American nation, with state-owned firms taking about a third, and bigger independent refineries buying only limited volumes, she said. 

While the future of Venezuela and its oil sector is still very murky, a hoard of sanctioned crude in floating storage will cushion Chinese buyers in the coming months. Almost 82 million barrels is currently on tankers in waters off China and Malaysia, according to data intelligence firm Kpler. More than a quarter is Venezuelan and the rest is Iranian, it said. 

The four tankers are AQUILA II (9281152), BERTHA (9292163), VERONICA III (9326055) and VESNA (9233349). Here are three of them, spotted by @TankerTrackers in a single @CopernicusEU satellite image taken yesterday, leaving Venezuela’s main oil port and heading northeast. pic.twitter.com/yH7BRMlrF7

— Christiaan Triebert (@trbrtc) January 5, 2026

Also, on Monday there are reports of US-bound oil as well, with a Chevron-chartered vessel carrying Venezuela crude currently en route to the US Gulf coast, shipping data shows.

By Bas van Geffen, Senior Macro Strategist at Rabobank

Happy New Year! Brace yourselves, we’re in for a rough ride.

In our last Monthly Outlook for 2025, we looked ahead to this year. We warned that it would be foolish to assume that this year would be any calmer. President Trump wasted no time to make that prediction accurate.

You will undoubtedly have seen the headlines. This weekend, President Trump launched a military operation in Venezuela and in a matter of hours, Venezuelan President Maduro was in US custody. He faces charges for “pushing drugs into the United States.”

It is the first time the US moves to oust a Latin American leader since Bush moved against Noriega in 1989. Coincidentally, the Panamanian leader was also wanted for drug trafficking, but the US had other geopolitical reasons to dethrone him. Drug trafficking charges may be Trump’s official reason for this weekend’s operation in Venezuela, as his voter base did not elect him on a platform of active foreign policy. Still, the move fits with a modern-day Monroe Doctrine.

Throughout 2025, Trump had already taken an interest in politics in other Latin American countries. He has been a supporter of Argentina’s Milei, who largely shares Trump’s ideas. And Trump has not shied away from punitive tariffs on Brazil, as retribution for a criminal investigation against former president and Trump-ally Bolsonaro and arguably Brazil’s deepening ties with Russia and China.

Is this a warning of more to come? Recall that last year, Trump threatened to take control of the Panama Canal and he said “something could happen with Greenland.” This weekend, the US president repeated that the country “needs Greenland from the standpoint of national security.” And, Trump warned that Colombia could be next after Venezuela. He accused the Colombian president of making and selling drugs to the United States, adding that “he’s not going to be doing it very long, let me tell you.”

Unsurprisingly, several Latin American leaders condemned the move. Brazil’s Lula said that an unacceptable line had been crossed, just as relations between the two presidents had started to defrost. Mexico strongly rejected the attack, and Chile and Colombia expressed their concerns.

The capture of Maduro also puts another strain on US relations with Russia and China, who both supported Venezuela. In fact, Maduro had met with Chinese envoys just hours before his capture.

Meanwhile, the response of US allies was divided as leaders weigh politics and international law. French President Macron chose the political route of commending Trump’s achievement: “Venezuelan people are rid of Maduro’s dictatorship and can only rejoice.” His German counterpart noted that the legal assessment is “complex.” But, above all, Merz called for a transition to a government that is legitimised by elections, warning against political instability.

Opinions vary how Venezuela may get there. Macron suggested that Maduro’s main political opponent –and presumed winner of the previous elections– could lead this transition: “President Edmundo González Urrutia, elected in 2024, can swiftly ensure this transition.” Venezuelan opposition leaders have called for the same.

But President Trump has other plans. According to the US president, the opposition leaders lack the “respect” of the country to govern effectively. Instead, Trump suggested that Maduro’s vice president would be the best candidate for the job: “She is essentially willing to do what we think is necessary to make Venezuela great again.” Trump added that the US would “run” Venezuela until a “safe, proper and judicious” transition of power can be done.

Rodríguez initially showed defiance of US intervention, arguing that “the US attack only had one objective: regime change and the capture of Venezuelan natural resources”. Yet that could be a façade as she juggles US demands with those of Maduro’s supporters. Indeed, on Sunday, she extended an invitation to “work together on a cooperation agenda,” as Trump threatened her with a fate worse than Maduro’s “if she doesn’t do what’s right.” For now, everything remains in flux.

It is equally unclear how Trump will ensure a smooth transition of power, or how he exactly plans to lead Venezuela in the interim. The US does not have a military presence or even an embassy, but it has blockaded the country for about a month now. So, Trump may have some economic pressure over any new leader. And he has warned that follow up strikes could still happen, if necessary.

If the US administration manages to impose its power over Venezuela, that could reshape the world. The country’s oil reserves could ensure low energy prices for US consumers and secure fuel for US shipping and military, whilst undercutting geopolitical rivals’ abilities to fund themselves with energy sales and/or disrupting flows to China. However, Venezuelan oil production is a fraction of what it was, and our energy strategists estimate that it would take at least five to ten years before capacity can be restored to what it once was.

Geopolitically, it shows that Trump means what his administration wrote in its National Security Strategy: a greater focus on the Western Hemisphere; a “Donroe Doctrine.” Control over Venezuela reinforces that message, and would make it easier for the US to then lean on resource-rich countries in the region.

But none of this is without risks. Imposing a stable, pro-US regime is much more difficult than toppling the former. And how will China and other geopolitical rivals respond? Has Trump set a precedent with his claim that the attack was legitimate because Maduro had been indicted in the US?

We’re just a couple of days into 2026 and the tone has been set. Buckle up!