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Defiant Zelenskyy Resumes Russian Refinery Drone Strikes Defiant ...

2026-10-15T11:20:00Z

Defiant Zelenskyy Resumes Russian Refinery Drone Strikes

Defiant Zelenskyy Resumes Russian Refinery Drone Strikes

A defiant President Volodymyr Zelenskyy told the https://www.ft.com/content/4d79b52f-1f0d-4739-82ab-7ecfb4251326?syn-25a6b1a6=1 on Thursday morning that Ukrainian forces will resume attacks on Russian refineries. The move certainly seems more political than anything else. Such attacks have been described as one of the drivers behind the global refining crisis, which has collided with https://www.zerohedge.com/energy/iran-hormuz-attack-spree-starts-choking-oil-flows-again-ubs-warns.

"The block [on attacking refineries] is out. We're done," Zelenskyy told the FT. He said Kiev had suspended energy strikes for three days at the Trump administration's request.

Even before that, the Trump administration had requested many times that Kiev stop bombing Russian refineries, but Ukraine remained mostly defiant and ramped up those attacks leading up to the US midterm elections. One can only wonder whether the escalation was politically motivated, worsening the diesel crisis and translating into consumer pain at US pumps.

Zelenskyy's new narrative is that the resumption of drone attacks on Russian refineries is a response to what he described as a "dangerous" cutoff of US intelligence sharing and the degradation of Starlink service.

Trump has denied cutting off intelligence sharing. Elon Musk said the US government controls https://www.zerohedge.com/geopolitical/spacex-reportedly-caps-starlink-speed-kiev-defies-trumps-calls-halt-refinery-strikes, the military satellite network built on Starlink technology. Zelenskyy's office said Thursday that it had lifted the speed restrictions.

A growing rift is apparent between Zelenskyy and the Trump administration, as the Ukrainian president went on a https://www.zerohedge.com/geopolitical/zelensky-feels-betrayed-trump-elon-musk this week to push the narrative that he feels "betrayed" by Trump. Yet this should be seen as theatrics, a performative stunt by the former comedian who knows how to put on a good act before the US midterms.

Zelensky tells Piers Morgan he feels 'BETRAYED' BY TRUMP: 'really YES, really, between us' https://t.co/InYEjF5LLa
— RT (@RT_com) https://x.com/RT_com/status/2110407626806952029?ref_src=twsrc%5Etfw
Last week, Trump said it was "https://www.zerohedge.com/energy/payback-trump-cut-putin-diesel-deal-after-zelensky-ignored-six-pleas-stop-refinery-strikes"; after Zelenskyy ignored pleas to stop strikes on Russian refineries, one of the reasons why US diesel prices recently topped a national average of $6.50 a gallon.

Musk has openly agreed, saying on X, "I agree, time for Ukraine to get a new leader."

@zerohedge I agree, time for Ukraine to get a new leader
— Elon Musk (@elonmusk) https://x.com/elonmusk/status/2109147413344584047?ref_src=twsrc%5Etfw
The breakdown in relations comes ahead of the Northern Hemisphere winter. The International Energy Agency https://www.zerohedge.com/energy/no-quick-pump-relief-iea-warns-diesel-squeeze-will-persist-2027 yesterday that the "gasoil market balance will remain tight well into 2027."

Diesel prices in the US are back at their highs despite Trump's diesel deal with Moscow to add more barrels to the global market.

And now, the West heads into winter with a refined-products shock...

https://cms.zerohedge.com/users/tyler-durden
Thu, 10/15/2026 - 07:20

https://www.zerohedge.com/geopolitical/defiant-zelenskyy-resume-russian-refinery-drone-strikes

Terror Plot At UK Airbase 'Almost Certainly' Directed By ...

2026-10-13T13:05:00Z

Terror Plot At UK Airbase 'Almost Certainly' Directed By Iran, British PM Says

Terror Plot At UK Airbase 'Almost Certainly' Directed By Iran, British PM Says

https://www.theepochtimes.com/world/terror-plot-at-uk-airbase-almost-certainly-directed-by-iran-british-pm-says-6102649?utm_source=partner&utm_campaign=ZeroHedge,

Last month's suspected terror plot at RAF Fairford, an airbase shared with the United States in England, was likely coordinated and directed by Iran's ruling regime, British Prime Minister Andy Burnham said on Oct. 12.

"I can confirm our assessment that it is highly likely to have been coordinated in Iran - almost certainly directed by Iran's Islamic Revolutionary Guard [IRGC]," Burnham told lawmakers.

Burnham said investigators were in close contact with the United States about protective security at shared military bases in the UK and were continuing to investigate the case.

Seven suspects, all in their 20s, were arrested on terror and explosives charges for their alleged involvement in the RAF Fairford incident on Sept. 27.

Police responded to local tips about suspicious activity near the facility in Gloucestershire, England. Officers stopped three vans heading toward the airbase used by American forces to launch strikes against Iran.

Police and military explosive disposal teams https://www.theepochtimes.com/world/uk-suspects-iran-involved-in-incident-at-air-base-housing-us-forces-6096904?utm_source=partner&utm_campaign=ZeroHedge the vehicles and found gasoline inside but no explosives, investigators said.

The Pentagon has since removed its heavy bombers from the base. The men have been released from custody and have not been formally charged.

In another incident, two Latvian men were arrested on espionage charges on Oct. 7 after they allegedly broke into the RAF Molesworth airbase, used by U.S. and NATO intelligence teams, near London.

Burnham didn't say whether the two airbase incidents were linked, but he vowed to investigate any future threats from Iran.

"We will not tolerate these threats on our soil," Burnham said. "We will crack down on Iran's use of criminal networks using our full range of powers to target them and their funding streams. And we will bring further sanctions to restrict the capacity of Iran and the IRGC to do us harm."

The United States and the UK joined 27 other countries to "condemn in the strongest terms Iran's use of violent attacks, including the acts of lethal plotting, arson, sabotage, cyber-attacks, and other hybrid activities" against the countries and their partners.

"We recognize the United Kingdom's attribution of Iran's involvement in the incident at RAF Fairford on 27 September," the countries said in a joint statement after Burnham's announcement. "The UK has also concluded this event demonstrates the IRGC's continued willingness to project hostile activity beyond its borders through covert networks and proxy actors."

The nations vowed to "investigate, disrupt, and prosecute" all attempts to "silence, intimidate, harass, harm, or coerce people through proxies or other means."

"Iran should be in no doubt that we are united and remain committed to safeguarding our sovereignty and strengthening our international coordination, bolstering our national resilience, protecting our communities, and ensuring that those responsible are held to account," the countries stated.

The alleged attempted terror attack comes after recent attacks across Europe targeting Jewish communities, Iranian journalists, and U.S. interests. The pro-Iranian Islamist group Harakat Ashab al-Yamin al-Islamiya (HAYI) claimed to have instigated the attacks, according to state officials.

The incidents included a March 9 attack using a homemade explosive at a synagogue in Liège, Belgium; attacks against Jewish institutions in the Netherlands targeting a synagogue on March 13, 14, and 15; and a foiled bomb plot against a Bank of America branch in Paris on March 28.

The United States and other countries called for the HAYI attacks to end earlier this month, saying the relationship between Iranian security services and international and local criminal groups was long-standing.

"Attempts to kill, kidnap, harass, intimidate, or otherwise attack people on our soil, [undermine] national sovereignty and international norms. These actions must stop immediately," the countries stated on Oct. 6.

https://cms.zerohedge.com/users/tyler-durden
Tue, 10/13/2026 - 09:05

https://www.zerohedge.com/geopolitical/terror-plot-uk-airbase-almost-certainly-directed-iran-british-pm-says

Zelensky Says He'll Hold Elections If Putin Agrees To 60-Day ...

2026-10-12T14:20:00Z

Zelensky Says He'll Hold Elections If Putin Agrees To 60-Day Ceasefire

Zelensky Says He'll Hold Elections If Putin Agrees To 60-Day Ceasefire

https://news.antiwar.com/2026/10/11/zelensky-says-hell-hold-elections-if-putin-agrees-to-a-60-day-ceasefire/

Ukrainian President Volodymyr Zelensky https://www.aa.com.tr/en/russia-ukraine-war/zelenskyy-says-he-ll-hold-elections-if-putin-agrees-to-60-day-ceasefire/4085289 on Sunday that he would hold elections in Ukraine if Russian President Vladimir Putin agreed to a 60-day ceasefire, comments that came after President Trump said Ukraine needed a new president to reach a deal with Russia.

Zelensky’s https://news.antiwar.com/2024/05/20/zelensky-remains-in-power-despite-presidential-term-expiring/, but he has remained in power because no elections have been held, and he has https://news.antiwar.com/2026/08/24/zelensky-continues-to-oppose-wartime-democracy-amidst-escalated-election-demands/ the growing calls within Ukraine to hold a vote.

Zelensky during his nightly address on October 11, 2026 (Office of Ukrainian President)Trump said on Saturday that he suggested Ukraine "get a new leader who can make a deal because he could have made many deals and for some reason he never does."

Responding to Trump, Zelensky said in an interview with ABC News that Trump should tell Putin to agree to a 60-day ceasefire.

"So please tell Putin, give us two months, 60 days off. Total ceasefire, 60 days, and we will organize elections," he said. "Of course, we will be ready for any choice of our people, exactly Ukrainian people."

Zelensky and other Ukrainian officials have justified not holding an election by pointing to Ukraine’s constitution, which prohibits elections during martial law, first declared after Russia’s invasion and extended since, though Zelensky https://news.antiwar.com/2023/08/27/zelensky-says-ukraine-elections-could-happen-if-theyre-funded-by-the-west/ back in 2023 that he could hold one if the US and other Western countries paid for it.

Zelensky also https://thehill.com/policy/international/6141224-zelensky-criticizes-us-russia-diesel-deal/ of a deal Trump announced that would involve the US importing Russian diesel, calling it a "birthday gift" to Putin that would allow Russia to "kill us, kill our children."

Trump also lashed out at Zelensky on Saturday over Ukraine’s attacks on Russian oil refineries, as he’s attempting to shift blame for the global energy crisis from the US war with Iran to the Russia-Ukraine war.

Moscow responds by once again saying it is not looking for a temporary truce, but wants a lasting political settlement to the conflict:

Q: Zelensky said he is ready to hold presidential elections in Ukraine if there is a 60-day truce. Kremlin: Russia wants a lasting peace, not a ceasefire. https://t.co/aAiwBQ8Q8c
— Clash Report (@clashreport) https://x.com/clashreport/status/2109591923841523917?ref_src=twsrc%5Etfw
However, https://www.defensenews.com/global/europe/2026/08/17/everybody-loves-a-winner-us-ukraine-intel-sharing-surges-as-kyiv-racks-up-wins/ that Ukraine's attacks on Russian energy infrastructure are supported by US intelligence.

https://cms.zerohedge.com/users/tyler-durden
Mon, 10/12/2026 - 10:20

https://www.zerohedge.com/geopolitical/zelensky-says-hell-hold-elections-if-putin-agrees-60-day-ceasefire

Katie Zacharia Becomes New White House Press Secretary Katie ...

2026-10-09T23:40:00Z

Katie Zacharia Becomes New White House Press Secretary

Katie Zacharia Becomes New White House Press Secretary

President Donald Trump has chosen Katie Zacharia to be his next White House press secretary. Trump announced on Truth Social Friday that he had "just appointed" her, which she publicly announced shortly later.

"Thank you to President Trump for the distinguished privilege of serving as White House Press Secretary. Serving President Trump and the American people at this critical 250-year mark is the honor of a lifetime," Zacharia wrote on X, adding "I look forward to working with the White House press corps, and with reporters across the country, to get that record out."

Thank you to President Trump for the distinguished privilege of serving as White House Press Secretary. Serving President Trump and the American people at this critical 250-year mark is the honor of a lifetime. President Trump has shown America that we can be great again, and he works to effectuate that greatness every single day. His confidence is a true privilege, and his leadership is a blessing to this country. The work ahead is to continue delivering strong results for our Country and communicating to the American people the major wins that this Administration is making every single day. I look forward to working with the White House press corps, and with reporters across the country, to get that record out. Following the fabulous Karoline Leavitt is a high standard, and one worth meeting. God bless President Trump, and God bless America.
— Katie Zacharia (@KatieZacharia) https://x.com/KatieZacharia/status/2108660604181618818?ref_src=twsrc%5Etfw
Zacharia is 41, a mother of four, and based in California. She started as an intern at the Republican National Committee, became its press secretary in 2024, and earlier worked in the George W. Bush White House's Office of Political Affairs. She is a regular on Fox News, Fox Business and Newsmax, holds a law degree from Pepperdine, and, per https://www.nbcnews.com/politics/trump-administration/katie-zacharia-white-house-press-secretary-trump-rcna602560, often defends the administration on X. Mediaite says she currently works at Fix California, a group run by Trump special envoy Ric Grenell.

Zacharia left her DHS spokesperson job on April 1 after about six weeks, https://justthenews.com/government/courts-law/dhs-spokeswoman-out-after-6-weeks reported at the time. She gave no reason in her announcement. The Daily Beast reported that her ties to Corey Lewandowski, an adviser to then-Secretary Kristi Noem, were the catalyst; she denied that to Just the News and blamed the strain of frequent travel between California and her family.

Trump's Truth Social post called her a MAGA supporter with "an unblemished record of support," per https://www.scrippsnews.com/politics/the-president/white-house-asks-katie-zacharia-to-be-the-new-press-secretary, and said she would work well with the media and the American people. Mediaite, citing CNN, says Trump had called a number of close allies in recent days to ask what they thought of her, and, citing the New York Post, that her ties to Lewandowski and Grenell, who have reportedly long clashed with chief of staff Susie Wiles, could shift the West Wing's power dynamics. The Daily Beast says Jennings, Alina Habba, Jason Miller and Leavitt's deputy Anna Kelly were also floated for the job.

The pick comes about two months after Leavitt left and less than a month before the midterms. NBC News notes that Trump has complained at recent events that "we're not doing a good job of public relations."

As https://www.theepochtimes.com/us/trump-admin-offers-katie-zacharia-job-as-new-white-house-press-secretary-6101825?utm_source=partner&utm_campaign=ZeroHedge notes further, Zacharia has worked since June as a top communications adviser for Trump Media, which owns the president's social media platform, Truth Social, according to her LinkedIn social media account. She also worked for the Department of Homeland Security for two months earlier this year.

If she takes the role, Zacharia would be replacing former White House press secretary Karoline Leavitt, who left the administration in August. Leavitt has since taken a job at Fox News.

https://store.zerohedge.com/products/fire-hose-edc-belt?variant=51685609865514&utm_source=zerohedge&utm_medium=banner&utm_campaign=2026-10-house-fire-hose-edc-belt&utm_content=retired-hose-active-duty

https://cms.zerohedge.com/users/tyler-durden
Fri, 10/09/2026 - 19:40

https://www.zerohedge.com/political/katie-zacharia-becomes-new-white-house-press-secretary

Cowardly Europe Fears Dissent Cowardly Europe Fears Dissent ...

2026-10-07T06:00:00Z

Cowardly Europe Fears Dissent

Cowardly Europe Fears Dissent

https://www.americanthinker.com/articles/2026/10/cowardly-europe-fears-dissent/,

Orwellian brutes now govern Europe...

Former-banker-turned-tiny-French-President Emmanuel Macron blasted what he called "American free speech" while https://www.rt.com/news/646623-macron-american-free-speech/ to reporters last week. Defending the European Union's robust censorship policies, le petit fromage insisted that Europe's speech-policing Digital Services Act should censor information that governments consider false "much more extensively, much faster, and much more forcefully."

Macron then did his Orwellian best to condemn free speech as oppression and praise censorship as liberation: "So-called American 'free speech' - at least as it exists today and has been promoted by some people - is the opposite of free speech." The terribly disliked French leader continued, "My freedom cannot mean that I am free to...insult you or vandalize the public square that belongs to everyone. Yet that is some people's idea of 'free speech.'"

Then the little mouse of a man roared, "Until we hold those who disseminate content on social media accountable, we will not be able to regulate it." Furthermore, if "someone writes something" that is "false," then that person should be "held accountable." Tough talk from an insecure man afraid of words.

What is going on in Europe? Why is the whole continent so scared of public debate and dissent? If the political Establishment is unable to defend its ideas and policies without censoring the opposition, then its ideas and policies are absolute rubbish! The people who have willed their way to power across Europe apparently believe that they cannot win an argument unless they are the only ones permitted to speak!

That's a bit like a puny pugilist demanding that referees tie another boxer's hands behind his back before declaring himself world heavyweight champion!

Personally, I think mini-mouse Macron is just tired of people pointing out that he married his grandmother (or his grandfather, as the https://www.ndtv.com/world-news/french-president-emmanuel-macron-forced-to-prove-his-wife-brigitte-macron-is-not-a-man-explaining-the-bizarre-case-gender-conspiracy-9306016). We used to teach our children, "Sticks and stones may break my bones, but words will never hurt me." Now Western leaders are so terrified of words that they'd rather imprison everyone with an opinion than learn to take a joke or hear a contrary point of view.

Here's the truth that Macron and his fellow Euro-weenie censors refuse to understand: Free speech is free only when a speaker can say something offensive or controversial without fear of the State's wrath.

Although Macron wants to criminalize speech that he considers untrue, he spreads endless falsehoods of his own! While beseeching British Prime Minister Andy Burnham to betray the will of voters who chose to leave the European Union ten years ago, the Napoleon-complex-afflicted French president https://www.breitbart.com/europe/2026/10/02/macron-begs-britain-to-come-back-describes-brexit-as-biggest-lie-over-past-30-years/, "Brexit is the biggest lie of the last thirty years!" That boast is absurdly false (or what European censors call criminal "misinformation"). The British people did vote to separate themselves from Queen Ursula von der Leyen's European empire.

Even though Brexit fearmongers predicted imminent economic collapse should the British people choose to rule themselves - and despite the best efforts of Brexit saboteurs at home and abroad - the United Kingdom is currently outperforming France and other major European economies, having led the G7 in growth during the first half of 2026. One reason Brexiters voted to leave the E.U. in 2016 was because British citizens did not want their military to be swallowed into a European Army beyond their control - a prospect, ironically enough, which pro-E.U. stalwarts once called "disinformation" but which has proved increasingly prescient.

Queen von der Leyen and her Brussels Eurocrats are working feverishly today to use the Russia-Ukraine War as an excuse to create increasingly centralized European defense structures.

It's also worth remembering that European expansionists originally promoted the Union as an intergovernmental body meant to boost European economic markets and promised that the supranational institution would never directly usurp national sovereignties. That was a clear case of "misinformation" and certainly one of the biggest lies of the last half-century!

Speaking of lies that European leaders have promoted as "truths," the Russia Collusion Hoax against President Trump (which British and Ukrainian intelligence agencies https://theconservativetreehouse.com/blog/2020/10/06/dni-john-ratcliffe-releases-underlying-documents-related-to-cia-director-brennan-briefing-white-house-on-2016-clinton-inspired-trump-russia-collusion-narrative/#more-201175 to propagate), the "global warming" apocalypse (which was scheduled to kill us all fourteen years ago), and the "Reign of COVID Error" (during which "health experts" lied about the virus arising from nature instead of a Chinese laboratory and then lied about fake "vaccines" being "safe and effective") are three of the biggest mass frauds and information warfare campaigns ever perpetrated by governments against the public.

Macron has never called for these lies to be censored from social media platforms. He just doesn't like it when random Americans point out that the European Union is an undemocratic and totalitarian system of governance that should be burned to the ground. And he really doesn't like it when commoners correctly point out that his old high school teacher - and abusive wife - sometimes https://nypost.com/2025/05/28/world-news/lip-reader-reveals-what-french-president-emmanuel-macrons-wife-brigitte-said-moments-after-shoving-him-in-the-face/.

Unfortunately, Macron's inability to understand the importance of free speech is a European-wide learning disability.

In the U.K., a member of the public has filed a https://www.westernjournal.com/monty-python-star-john-cleese-doubles-muslims-try-get-arrested-comments-islam/ against eighty-six-year-old comedy legend John Cleese because he continues to make fun of Islam's love for rape and murder. The complaint argues that Cleese should be considered a "moderate to high risk" for "radicalisation, communal tension, and hate incidents" for writing, among other things, "I personally prefer a culture that does not approve of FGM, Child Marriage and Killing Infidels."

The complaint accuses Cleese of "anti-Muslim hate" and seeks further scrutiny of the cultural icon. In response to news of the referral, the Monty Python alum wrote, "The Islamic male ego becomes so bloated by its lack of restraint that it believes any criticism is blasphemy," and, "I look forward to being arrested." Later, he declared his targeting "One of the proudest moments of my life."

Meanwhile, a retired police officer was recently https://modernity.news/2026/08/17/blasphemy-law-is-back-retired-police-officer-fined-for-islam-joke/ more than £1,000 under the U.K.'s Communications Act for reposting a bacon joke ridiculing Islam. As one free speech advocate rightly observed, "No-one making a similar joke about Jesus would face prosecution."

At the same time that it targets retired cops for having a sense of humor, the British government continues to hand out "skilled worker sponsorship licenses" to Islamic bookstores that sell https://modernity.news/2026/07/28/uk-hands-skilled-visa-powers-to-islamic-bookshops-selling-jihad-texts-wife-beating-guides/!

An Islamic preacher in London encourages Muslim men to https://www.zerohedge.com/geopolitical/london-mosque-pushes-wife-beating-throwing-gays-tall-buildings if they refuse to obey. The same Islamic cleric describes "acceptable" execution methods for gay men, including throwing them off tall buildings and pummeling their bodies with rocks. These sermons are available on YouTube.

Nevertheless, the mosque still enjoys charitable status in the U.K. Islamic jihadists preach violence and murder, and law enforcement agencies ignore their threats, just as they ignored - for decades - https://theconservativetreehouse.com/blog/2026/06/16/british-mp-rupert-lowe-releases-rape-gang-inquiry-report-an-evil-has-fallen-upon-great-britain/ tens of thousands of young girls across Britain.

However, when a comedian and a retired police officer mock Islam's penchant for violence, the British government scrutinizes their speech as "threats." That should be no surprise when U.K. police forces instruct officers that Nigel Farage's immigration beliefs are "https://www.zerohedge.com/geopolitical/police-islamophobia-training-equates-farages-wrods-hate-crime"; and encourage non-Muslim staff to fast during Ramadan in "https://modernity.news/2026/08/03/uk-police-force-invites-non-muslim-staff-to-fast-during-ramadan-as-act-of-solidarity/"; with their Islamic conquerors.

Two-tiered "free speech" is official government policy. Furthermore, a Home Office-linked unit has been recording social media criticism of the government's Prevent program, including 77 observations concerning people and organizations criticizing Prevent on X and Reddit. https://www.zerohedge.com/political/uk-officials-are-keeping-list-brits-who-question-government-policy show that government-linked officials are monitoring and recording the speech of people who publicly challenge this controversial counter-extremism policy.

Orwellian brutes now govern Europe. Need further proof? The Green Party in the U.K. wants to https://www.zerohedge.com/political/far-left-uk-green-party-wants-words-mother-and-father-erased "mother" and "father" with more "inclusive" terms. Meanwhile, the Germans just https://www.dw.com/en/germany-news-merz-lauds-nato-with-westphalian-peace-prize/live-79496180 the Westphalian Peace Prize to NATO's military alliance.

Parents are strangers. War is peace. Free speech is violence. Censorship promotes liberty.

In truth, freedom in Europe is dead.

https://cms.zerohedge.com/users/tyler-durden
Wed, 10/07/2026 - 02:00

https://www.zerohedge.com/geopolitical/cowardly-europe-fears-dissent

Trump Responds To Watchdog Report: Force Powell Off The Fed Board ...

2026-09-30T19:58:53Z

Trump Responds To Watchdog Report: Force Powell Off The Fed Board - Or Sue Him

Trump Responds To Watchdog Report: Force Powell Off The Fed Board - Or Sue Him

Update (1554ET): So much for "finality."

Minutes after the Fed's own inspector general cleared the Eccles renovation of criminality - and of administrative misconduct - President Trump made clear he is not treating the Horowitz report as the last word. Powell, Trump https://truthsocial.com/@realDonaldTrump/posts/117361716972225267 on Truth Social, should be "forced to resign" from the Board of Governors. If he doesn't, "he should be sued by the US."

As for the building itself: Trump said Attorney General Todd Blanche will "make a determination" about the project - which is another way of saying the White House does not consider a clean bill of health from an IG Powell appointed, after a review Powell ordered, to be dispositive.

"I have asked Attorney General Todd Blanche to study the report, and make a determination as to what to do about a relatively small Building Complex," Trump wrote, adding "If he doesn’t resign, he should be sued, at the highest level, by the United States Government, for either corruption or incompetence."

Pirro deferred to this report in April. Powell said he would stay on the Board until the investigation was "well and truly over, with transparency and finality." The IG just gave him the no-crime finding. Trump just told him that isn't enough to keep the seat.

Powell can still sit as a governor through January 2028. Forcing him off that Board - as opposed to waiting out a chair term that already ended in May - is a different fight: for-cause removal, a civil suit, or enough political heat that he walks. Blanche now has the file. Watch Truth Social, and watch whether "determination about the building" turns into a new referral or just another hard-hat presser.

* * *

After more than a year of drama, subpoenas, surprise site visits, hard-hat photo ops and one very public fight over https://www.investopedia.com/trump-s-latest-attack-on-fed-chair-powell-involves-a-beehive-and-a-rooftop-garden-11770044, the Fed's internal watchdog has finally weighed in on the central bank's headquarters renovation. The verdict: nobody committed a crime, but almost nobody was minding the budget either.

According to a https://www.bloomberg.com/ released Wednesday by the Fed's Office of Inspector General, there were no "reasonable grounds to believe that a violation of federal criminal law had occurred," and no administrative misconduct.

What the OIG did find was a long list of management failures that helped the cost of renovating the Eccles Building and the adjacent 1931 federal building balloon from a budgeted $1.3 billion in 2020 to $2.4 billion:

- The Board never acted on the OIG's earlier recommendation, made after the Martin Building renovation overran, to set a stated cost limit. It also never asked for a construction cost estimate.

- As recently as July, four years in and with contracts already awarded, the Fed still had not set a guaranteed maximum price.

- Some work drew few or no bids, which pushed costs up substantially.

- Internal governance "wasn't equipped" to run a project of this size and complexity.

- Design changes, site conditions and, of course, inflation. The OIG said "inflation was clearly a factor," which is a notable admission from an institution whose one job is controlling inflation.
As for the marble, water features and rooftop garden that critics fixated on, the OIG said they "did not materially drive" the cost surge (so Powell was vindicated on the beehives, if not on the budget).

The new Marriner Eccles sheriff, Fed Chair Kevin Warsh, said the Fed will adopt all of the recommendations, hand management of the project to the General Services Administration (reporting to the Board and to Warsh), and bring in an independent auditor to review every cost awarded to date. "There are important lessons to be learned," Warsh wrote to IG Michael Horowitz, whom Powell appointed in June 2025.

Frequent ZH readers will remember how this saga played out. In July 2025, with Trump publicly pressing for rate cuts, the renovation became the administration's preferred lever: Trump https://x.com/zerohedge he wouldn't fire Powell "unless there is fraud w/ renovation" (July 16, 2025). Days later, Powell was https://www.zerohedge.com/political/fed-chair-powell-criminally-referred-doj-perjury (July 21, 2025) over his June 2025 testimony that there was "no VIP dining room, there's no new marble... there's no beehives and there's no roof terrace gardens." Trump then https://www.zerohedge.com/markets/trump-visit-fed-hq-criticism-powell-continues (July 24-25, 2025), producing the most awkward cost-overrun negotiation in central banking history. At the time, OMB's Russ Vought insisted the criticism was "not about firing Powell" but "about holding the Fed accountable."

Things escalated in January, when the Fed was https://www.zerohedge.com/markets/fed-subpoenaed-doj-launches-criminal-probe-jerome-powell-who-vows-stand-firm (Jan 12, 2026), accusing the administration of using the probe to punish the Fed for not cutting rates:

"This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions — or whether instead monetary policy will be directed by political pressure or intimidation."

Federal prosecutors followed up with a https://www.zerohedge.com/political/us-prosecutors-make-surprise-visit-fed-hq-renovation-project, with US Attorney Jeanine Pirro saying any project with "cost overruns of almost 80 percent" deserved "serious review." Then in March, Judge Boasberg https://www.zerohedge.com/political/president-boasberg-protects-powell-quashes-doj-pressure-campaign-subpoena-over-fed (March 13), calling it "pretextual." After Republican senators held up Warsh's confirmation over the probe, Pirro https://www.zerohedge.com/markets/doj-drops-criminal-probe-powell-fed-building-costs (April 24), deferring to the very IG report that came out today.

So case closed? Not quite

Pirro said at the time that she would scrutinize the IG's findings, leaving open the option to reopen the case. And Powell, who broke with tradition by staying on the Board as a governor after his term as chair ended in May, said he would not leave "until this investigation is well and truly over, with transparency and finality."

Well, Powell can now leave as today's report gives him the "finality" part. Whether it gives him a reason to leave is another question. And whether a clean bill of health from an IG that Powell himself appointed and whose review Powell himself ordered will satisfy Pirro or the White House is... well, we'll find out soon enough: keep an eye on Trump's Truth Social account (especially if like Jane Street and the HFTers you are paying $100,000 to get them 20 millisecond before everyone else).

One thing is certain: a building project that nearly doubled in cost thanks to poor planning, no price cap and "inflation" is a perfect metaphor for the institution it will house.

https://cms.zerohedge.com/users/tyler-durden
Wed, 09/30/2026 - 15:58

https://www.zerohedge.com/political/fed-watchdog-finds-no-crimes-24-billion-renovation-just-everything-else

Futures Rise As Oil Drops, Dragging Rates Lower Futures Rise As ...

2026-09-29T12:39:04Z

Futures Rise As Oil Drops, Dragging Rates Lower

Futures Rise As Oil Drops, Dragging Rates Lower

US equity futures have reversed earlier losses and trade in the green, near session highs, as bond yields drop across the curve, following a decline in oil which has also hit the dollar, despite lack of any tangible news out of Iran and as traders brace for the week’s first labor data following a neverending firehose of artificial-intelligence news and events. As of 8:15am ET, S&P futures rose 0.2% while Nasdaq futures gained 0.4%, as Mag7, semis, and memory stocks all see a mild bid while software is weaker; EU Semis are up more than 3% so we may see US get active as the market opens. The AI theme is also creating a bid across industrials and utilities; cyclicals leading defensives with notable weakness in Staples. Energy names are lower with crude prices. The commodities complex is mostly lower with gold seeing a moderate bid and some Ags higher. Oil is at session lows, down 2% as Saudi Arabia resumed flows through a key pipeline after comments from the Qatar Foreign Ministry on possible US-Iran solutions. Overall price action looks like a cautious re-risking with guarded optimism around a US / Iran deal. Today’s macro data focus is on JOLTS ahead of Friday’s NFP and another batch of Fedspeakers.

In premarket trading, Mag 7 stocks are mixed (Alphabet (GOOGL) -0.08%, Amazon (AMZN) +0.3%, Apple (AAPL) -0.4%, Meta Platforms (META) +0.8%, Microsoft (MSFT) -0.08%, Nvidia (NVDA) +0.6%, Tesla (TSLA) +0.3%)

- AAR (AIR) gains 5% after the aerospace and defense company reported adjusted diluted earnings per share and revenue for the first quarter that beat the average analyst estimate.

- Fair Issac (FICO), a credit score company, slumps 18% after Federal Housing Finance Agency Director Bill Pulte announced a move that makes it easier for lenders to adopt VantageScore. According to analysts, this will increase competition while pressuring Fair Issac’s market share and pricing power.

- FuelCell Energy (FCEL) rises 5% after Oppenheimer & Co initiated coverage of the fuel cell maker with a recommendation of outperform, expecting demand to stay “well ahead” of supply as it ramps up its production capacity.

- Iovance Biotherapeutics (IOVA) climbs 5% after boosting its revenue guidance for the full year.

- Monday.com Ltd. (MNDY) slips 1.8% after JPMorgan downgraded the software company to neutral from overweight, citing growth challenges for annual recurring revenue.

- Netflix (NFLX) inches 1% higher after Deutsche Bank upgraded the streaming-video company to buy, saying that concerns about engagement were overblown.

- Summit Therapeutics (SMMT) rises 16% after AstraZeneca announced an investment in the biotech to collaborate on new cancer medication.

- Uniqure (QURE) slumps 58% after saying that the benefits of its Huntington’s disease gene therapy drug AMT-130 were not as good after four years as they were after three years in a small trial — a result that could complicate its bid to get the treatment approved by US regulators.
In other corporate news, AstraZeneca is investing $2 billion in US biotech Summit Therapeutics to collaborate on a promising new cancer medicine; AMD agreed to acquire World Labs for $8.2 billion, gaining an AI startup founded by industry pioneer and researcher Fei-Fei Li; Vail Resorts anticipates a rebound in fiscal year 2027 above analyst estimates, based on a range of normal weather conditions and incremental cost savings.

Markets are finding their footing after a turbulent start to the week that saw volatile oil prices trigger selling across stocks and bonds. Among potential catalysts, traders will closely follow what emerges from a lunch meeting on AI safety risks between US President Donald Trump and industry leaders. A busy stretch of economic data also kicks off with the release of the August job openings report. Traders will parse remarks from six Federal Reserve speakers for clues on the rate outlook at a time when markets are pricing as many as four hikes over the next 12 months

For traders, the current backdrop is tricky to navigate. Mounting risks from oil prices and interest rates have prompted some investors to pause aggressively building positions and wait for a clearer signal to re-engage, according to Bloomberg. US long-term net asset inflows fell in August versus the previous month, driven by lower passive inflows, according to JPMorgan, citing Morningstar data. Equity inflows declined to $11 billion from $39 billion in July.

The AI trade is also getting more complicated. OpenAI scrapped the debut of its GPT-6.1 Astra model while it establishes stronger safeguards, while Anthropic warned of “existential risks to humanity” in an IPO prospectus, Reuters reported. Both will remain in focus today, with OpenAI’s DevDay in San Francisco, including Sam Altman’s keynote at 1 p.m. ET, and Anthropic and Nvidia CEOs due to attend a lunch with Trump to discuss AI risks.

“We’ve had some rather large moves over the last few days or so, and we’ll have the ultimate data trigger in the form of non-farm payrolls heading into Friday, so I think it makes sense for positions to be squared,” said Geoff Yu, a senior macro strategist at BNY. “Also worth bearing in mind it’s month-end, so there will be these passive transactions which are not aligned to data.”

Worries that AI may cause harm have also moved to the fore, leading some industry executives, including Anthropic PBC head Dario Amodei, to call for a slowdown in the technology’s development. As Amodei and others prepare to meet Trump, traders will also listen what OpenAI Chief Executive Officer Sam Altman has to say about the issue at the group’s annual developer conference. The ChatGPT chatbot owner is holding back a version of its Astra model to put stronger guardrails in place.

The impact of rising inflation was on display Tuesday when Australia’s central bank lifted borrowing costs to the highest level in about 15 years. In Spain, inflation moved further above the European Central Bank’s 2% target, reinforcing the case for higher euro-area rates.

Macro data include JOLTS and consumer confidence, which Bloomberg Economics expect to show muted labor demand and subdued household sentiment. There’s also half a dozen Fed speakers, including two closely watched voters. Barr, who called for additional rate hikes last week, is speaking on the economic outlook in Detroit, and Williams, who has said more work is needed to lower inflation, will deliver keynote remarks in Buffalo.

European stocks are benefiting from the drop in oil, with the Stoxx 600 up 0.4% as cyclicals outperform defensives. Sentiment was also lifted as investors pared bets on rate hikes from the European Central Bank, with Julius Baer Group surging after Swiss regulatory action against the bank ended. Here are the biggest movers Tuesday:

- Julius Baer surges as much as 8.8% to a new all-time high after Finma said the wealth manager must hold CHF250 million in additional capital, less than previously required, as it ended its enforcement procedure. The Swiss firm has also sought approval for a share buyback program.

- Vesuvius shares gain as much as 32%, the most since 1990, after the metallurgical engineering firm announced a cash-and-shares offer from RHI Magnesita

- Close Brothers shares rise 13% after the specialized lender reported full-year earnings that beat expectations. Costs came in better than forecast, while loan growth accelerated in the second half

- Hapag-Lloyd gains as much as 5.3% after the German container shipper raised its full-year guidance. JPMorgan attributed the boost to shipping rates remaining at elevated levels

- Hemnet gains as much as 5.9%, the most in two weeks, after the Swedish property listings platform announced a series of operational changes, including the introduction of two new free entry-level listing formats

- Pepco Group gains as much as 5.1% in Warsaw after the discount retailer reported an acceleration in like-for-like sales, increased its earnings guidance and unveiled a new buyback

- Legrand gains as much as 7.8%, the most since April 8, after the electrical device specialist updated its financial targets through to 2030 at its capital markets day in Singapore

- Lindt & Sprüngli’s participation certificates fall as much as 9%, the most since March, after cutting its full-year 2026 organic sales growth forecast to 0%–2% from a prior range of 4%–6%

- Rentokil shares fall as much as 2.4% after Morgan Stanley cut its recommendation to equalweight from overweight. Morgan Stanley says the US pest control “narrative is unravelling and may have peaked”

- Shares in French airports and highways operators drop in heavy trading after news that the government is considering increasing taxes on transport infrastructure in its 2027 budget

- Accelleron Industries sares drop as much as 4.3% as Barclays starts coverage of the turbocharger manufacturer with a “contrarian” underweight, giving the stock its only negative analyst rating

- Pharming drops as much as 6.7% after announcing that Fabrice Chouraqui will step down as Chief Executive Officer with immediate effect
Asian stocks headed for a second straight day of losses as a lack of progress in US-Iran talks to reopen the Strait of Hormuz kept oil prices elevated. The MSCI Asia Pacific Index declined as much as 1.2% before paring some losses. Financials tracked US peers lower and were the biggest drags among sectors on the regional benchmark. MediaTek’s 7.1% slide, which was the largest in two months and followed a recent run-up in the stock, also weighed on the gauge as Taiwan markets resumed trading after holidays. Most of the national benchmarks in Asia fell on Tuesday. In China, the CSI 300 Index ended little changed, while property stocks rallied after the nation’s cabinet said it will study new policies to stabilize the real estate market, promote employment and boost domestic demand in response to issues emerging in the economy. The CSI benchmark had slumped to its lowest level in more than a year on Monday. Here are the most notable Asian movers

- Jiangsu Hengrui Pharmaceuticals’ shares gain as much as 3.7% in Shanghai after it agreed to license obesity and diabetes drug HRS-1596 to Novo Nordisk in a deal valued at up to $2.6 billion, according to an HKEX filing.

- RoboTechnik Intelligent Technology Co. shares fell on their trading debut in Hong Kong in one of the city’s busiest days for new listings.

- Chugai Pharmaceutical shares fall as much as 2.8% to the lowest in about a month after the Japanese company said the clinical development of emugrobart for obesity will be discontinued.

- PT GoTo Gojek Tokopedia shares extend their drop by another 14%, following a similar decline on Monday that came after Indonesia Stock Exchange removed its 50-rupiah price floor.

- Guangzhou Automobile Group shares jump after the company announced plans to acquire a 50% stake in FAW Toyota through share issuance, according to a filing to Shanghai Stock Exchange.

- Akeso shares rise as much as 13% after AstraZeneca said it would invest $2b in Summit Therapeutics, a partner of the Hong Kong-listed company.

- UBTech’s shares drop as much as 4.8% in Hong Kong after JPMorgan downgrades to neutral from underweight, reflecting a more cautious stance on humanoid robot manufacturers.
Asia’s equity benchmark is now down 1.3% in September as rising oil prices, surging bond yields, volatility in high-flying AI stocks and growing odds for more rate hikes by the Federal Reserve have combined to sour sentiment. Even so, the index is up more than 20% in 2026, heading for a fourth straight annual gain. Meanwhile, Indian equities are breaking through a series of long-held technical support levels as a selloff gathers pace in a market once considered an emerging-market darling. The benchmark NSE Nifty 50 Index has fallen for seven straight weeks and broken through its 200-day moving average on a weekly basis for the first time in six years.

In FX, the Bloomberg Dollar Spot Index is gaining further ground, up 0.2%, pressuring EUR/USD lower toward its year-to-date low. Aussie dollar finds itself near the foot of the G10 leaderboard after a hawkish RBA hike was followed up by a more dovish tone from Governor Bullock.

In rates, treasury futures are higher in early US session after erasing losses, with oil prices extending their retreat from Monday’s highs.US yields drop near session lows across the curve, with 10-year borrowing costs down 2bps to 5.21%. European yields are lower.US two- to 10-year yields are about 2bp richer with longer tenors lagging, steepening 5s30s spread by around 1bp on the day. 10-year is around 5.22% with bunds and gilts in the sector outperforming by 2bp and 3bp respectively. UK gilts outperformed European peers as markets waited for Prime Minister Andy Burnham to address the ruling Labour Party in Liverpool. Officials expect Burnham could signal he wants to begin a conversation about reforming the state pension to help pay for social care. IG dollar issuance slate includes a couple of names so far. Kroger was the sole issuer to tap the US primary market Monday, raising $1.5 billion while at least four others elected to stand down. Paramount is expected to announce the US dollar leg of a debt sale as soon as Tuesday after holding investor outreach Monday. US session includes consumer confidence gauge, JOLTs job openings data and comments by six Fed officials.

In commodities, WTI futures are on session lows, having added to losses after comments from the Qatar Foreign Ministry on possible US-Iran solutions. Brent crude is down 2% and trading around $104/bbl after advancing as high as $107.87/bbl in the European morning. There was no obvious news driver behind the dip but it follows a familiar recent pattern. Bitcoin is up 0.5%.

Today's US economic data slate includes July FHFA house price index and S&P Cotality home prices (9 a.m.), September consumer confidence and August JOLTS job openings (10 a.m.) and September Dallas Fed services activity (10:30 a.m.). Fed speaker slate includes Vice Chair for Supervision Bowman (11 a.m.), Governor Barr (12:40 p.m.), Chicago’s Goolsbee (1 p.m.), St. Louis’s Musalem (1:30 p.m.), New York’s Williams (2 p.m.) and Governor Waller (3 p.m.)

Market Snapshot

Top Overnight News

- Iran’s ability to choke off oil flowing through the Strait of Hormuz—and use that as leverage in talks with the U.S.—is breaking down, raising the risk it will resort to military escalation to bolster its position. WSJ

- Crude oil exports from key Middle East producers rebounded in September to 16.328 million barrels per day (bpd), the highest since the US-Israeli war on Iran started in late February, data from Kpler showed on Monday, as Saudi Arabia and the United Arab Emirates boosted exports. RTRS

- President Trump is willing to give Iran sanctions relief and release Iranian frozen funds in return for concrete Iranian steps regarding the nuclear program, U.S. officials say. But Trump took to Truth Social Monday evening to say such reports were "untrue." Axios

- Nvidia has held talks with insurance companies about shouldering the risks of lending against its chips as chief executive Jensen Huang pushes to unlock more demand for its semiconductors beyond Big Tech groups. FT

- China pledged more support for its slowing economy, including tapping unused local bond quotas and expanding central bank relending. Beijing will also subsidize interest payments for first-home mortgages. BBG

- A US import ban on certain Canadian motorcycles, alcoholic beverages and whey products took effect after Ottawa imposed retaliatory tariffs. The affected trade is relatively small at about $1 billion. BBG

- South Korea's Finance Minister said closely monitoring the bond market and will conduct treasury bond buyback if bond yields rise excessively: BBG

- Australia’s central bank has raised interest rates to the highest level in 15 years as the war in the Middle East fuels inflation and adds to economic uncertainty. The Reserve Bank of Australia on Tuesday increased its main borrowing rate by 0.25 percentage points to 4.6%, its fourth rate rise this year, as higher fuel prices fed into costs of goods and services. FT

- Japan’s 40-year government bond auction drew its strongest demand in six years as elevated yields lured investors back to the nation’s longest-dated debt, offering a potential reprieve to fragile global markets. BBG

- Spanish inflation rose for an eighth month in a row in September, accelerating beyond the eurozone average as its economy continues to outperform. WSJ

- September’s living up to its reputation for typically being the worst month for Treasuries. History suggests October will offer little relief, especially with the US-Iran war, fiscal concerns and a hawkish Fed. BBG
Iran Latest

- Iran's Foreign Minister Araghchi said Tehran discussed proposals with Qatari mediators to present to the US, and response is to be relayed to Tehran through Qatari mediators, adds conditions set by Supreme Leader must be met to reopen Strait of Hormuz. If the US wants a deal or peace, Iran has offered a solution. He will fly to Tehran in a few hours, and the Qataris will know how to reach us whenever they have the answer. Expects US response on Tuesday. Communications and messages exchanged by Qatari and Pakistani mediators have always been, but now they have taken a more serious form due to the plan presented by Iran.

- Iranian Foreign Minister Araghchi said Iran's positions have not changed and conditions for reopening the Strait of Hormuz are clear, while their position on other matters is clear. Hopeful the US' final answer will be conveyed via Qatari "by tomorrow".

- Iran's Foreign Ministry spokesperson Baghaei said media reported about the content of consultations with the Qatari mediator are baseless speculation, noting such accounts have no basis in reality and no discussion of the details of the issues took place.

- Iran Foreign Ministry Iranian delegation met with Qatar mediator on Monday afternoon at the UNGA, adds media speculation on Qatar talks is false and that there were no talks held on detailed issues with Qatari mediator. said:. Iran delegation will depart New York for Tehran on Monday night.

- Iranian MP Ebrahim Rezaei said no negotiations will begin until the US fulfils its commitments in the Islamabad understanding, while he stated that Iranian diplomats lack permission for bilateral or trilateral talks in the current situation. said:. US failed to release blocked funds after Islamabad deal.

- UN Secretary-General Guterres requested in a meeting with Iran's Foreign Minister Araghchi for a continuation of negotiations to achieve peace, according to Fars News Agency.

- US President Trump posted "Axios just released a story that “Trump” offered Sanctions Relief and Frozen Funds to Iran. This is untrue. I offered them NOTHING! Axios’ story, like most others, is a HOAX". Full post "Axios just released a story that “Trump” offered Sanctions Relief and Frozen Funds to Iran. This is untrue. I offered them NOTHING! Axios’ story, like most others, is a HOAX, used only for purposes of satisfying their Trump Derangement Syndrome. They should withdraw this fake story, IMMEDIATELY!".
A more detailed look at global markets courtesy of Newsquawk

APAC stocks were mostly subdued following the weak handover from Wall Street, where the major indices were pressured as oil prices and yields continued to climb, amid a slew of conflicting geopolitical headlines. ASX 200 traded rangebound with the index kept afloat for most of the session amid outperformance in the local tech, mining and materials industries, but with the upside limited after disappointing Household Spending and with mild pressure seen after the RBA hiked rates as expected and stuck to the hawkish script. Nikkei 225 underperformed and tested the 65,000 level to the downside, with the declines led by weakness in refiner and power-related stocks. KOSPI was choppy with the index ultimately dragged lower by the tech giants amid recent upside in yields, while South Korea's Finance Minister noted they are closely monitoring the bond market and will conduct a treasury bond buyback if bond yields rise excessively. Hang Seng and Shanghai Comp traded mixed with Hong Kong pressured amid weakness in some autonames and as fast fashion retailer Shein slumped after it reported its H1 oper. profit fell by over 50% Y/Y, while the mainland was resilient after the PBoC and government agencies issued guidance to expand capacity and improve the quality of China’s service sector through financial support, and China also asked local governments to pilot high-quality policies to boost consumption.

Top Asian News

- China has asked local governments to pilot high-quality policies to boost consumption, according to SCMP.

- Japan's Chief Cabinet Secretary Kihara said multi-layered Japan-China communication is important.
European bourses (STOXX 600 +0.5%) are broadly firmer this morning, with sentiment buoyed by increased hopes of US-Iran diplomacy – although uncertainty remains (see commodities for details). The energy complex has waned off best levels throughout the London morning, which has also helped lift the equities complex. European sectors hold a positive bias. Tech takes the top spot, reversing some of the pressure seen in the prior session. Industrials and Basic Resources complete the top three, with the latter rebounding from the pressure seen on Monday. To the downside, Food Beverage & Tobacco is joined by Energy and Optimised Personal Care.

Top European News

- UK PM Burnham has been warned by one of Britain’s largest unions that scrapping the triple lock on state pensions to help fund free social care for the elderly would be “electoral suicide” amid growing cabinet splits, reported The Times.
FX

- DXY is firmer after strengthening on Monday alongside higher US yields, with the Buck supported by elevated energy prices and continued Fed tightening expectations. DXY briefly rose from around 101.30 to above 101.38 in recent trade before paring slightly despite a dip in yields at the time, with the index currently towards session highs in a 101.17-101.44 range.

- EUR/USD is softer as the Dollar strengthens, with the pair extending below 1.1350 and trading towards the bottom of a 1.1343-1.1374 range. Spanish CPI printed hotter than expected at 4.9% Y/Y (exp. 4.7%, prev. 4.3%), with Core CPI also rising to 3.1% from 2.9%, although the data provided little support to the Single Currency.

- GBP is softer against the Dollar and trades towards the lower end of a 1.3227-1.3258 range. Sterling-specific newsflow centres on PM Burnham’s Labour conference speech later, where reports suggest he will edge the party closer towards rejoining the EU and signal an end to the pensions triple lock, although price action thus far remains largely driven by the firmer Dollar.

- JPY is broadly flat against the Dollar but outperforming most G10 peers, with USD/JPY trading around the middle of a 157.20-157.59 range. Japanese Finance Minister Katayama reiterated that the undervalued Yen is problematic and said Japan and the US agreed to bolster cooperation on FX after discussions with Treasury Secretary Bessent.

- Antipodeans underperform, led by AUD following the RBA. The Bank unanimously hiked rates by 25bps to 4.60% and retained the option of further tightening, but Governor Bullock subsequently struck a more dovish-than-usual tone, saying she hopes the four hikes delivered this year will be restrictive enough to slow inflation and that further hikes may not be needed if inflation comes down. AUD/USD fell from 0.7021 during the press conference to a 0.6973 low and remains close to session lows. NZD is also softer against the Dollar.

- Japanese Finance Minister Katayama said exchanged views on FX trends with US Treasury Secretary Bessent on Friday and agreed to bolster cooperation, adds we believe the undervalued yen, in general, is problematic. said:. Will continue close communications with US Treasury to ensure orderly Forex markets. PM Takaichi's administration is not reflationary. Closely monitoring bond markets. Interest rates are determined by markets. Will communicate closely with bond markets and conduct appropriate debt management policy. Will communicate closely with market participants while maintaining high sense of urgency.
Central Banks

- RBA Governor Bullock said inflationary pressures to last longer than expected; inflation is driven by domestic capacity pressures; Board will raise rates again if needed.

- RBA hikes the Cash Rate by 25bps to 4.60%, as expected with the decision unanimous, while it stated inflation remains elevated and some of the upside risks in August are materialising.

- ECB’s Kazimir said the rate hike was unavoidable, energy prices remain a key factor, and January repricing will be key for him; ECB needs flexibility, it has enough time.

- PBoC injected CNY 90.5bln via 7-day reverse repos and CNY 698.5bln in overnight reverse repos.

- PBoC set USD/CNY mid-point at 6.7411 vs Exp. 6.7177 (prev. 6.7399).

- Indonesia's central bank said rupiah weakens on higher global inflation and oil price risk., adds rupiah depreciation is due to worries about global inflation and fiscal risk amid high crude prices and interest rates.
Fixed Income

- A firmer start to the day, but the magnitudes vary significantly. USTs near-enough flat, awaiting an update on the geopolitical front; as it stands, Iran has suggested that a final response from the US could be presented to them by the US via Qatari mediators. Though, details on that remain light. Nonetheless, and despite relatively punchy (but familiar) Iranian rhetoric, energy has eased off highs across the morning.

- USTs flat in 104-08+ to 104-19 parameters. Aside from the above, the day features a handful of Fed speakers that may prove pertinent in addition to the latest JOLTS and confidence data stateside.

- Bunds firmer by around 20 ticks at the time of writing, a few ticks shy of Monday’s 119.71 peak thus far. Specifics for the space are a little light, no move to ECB speak or a handful of data points. Otherwise, focus remains on the energy complex, and particularly TTF which continues to ease but remains well above EUR 70/MWh.

- Gilts outperform, firmer by c. 50 ticks at best, but have eased modestly off the 84.44 peak across the morning. Outperformance comes ahead of the 14:00BST speech by UK PM Burnham at the Labour Party Conference. A speech that is expected to touch on a number of topics as part of his plan for the UK ahead.

- Particular focus will be on the triple lock, reports hint that he will open the door to an end to this in his speech, by signalling a review of it as part of the next Labour manifesto. Reporting that drives Gilts higher, as the fiscal cost of the commitment is already significant and is projected to increase markedly in the years ahead. However, it remains to be seen if there is the political/public appetite for this, and what measure(s) Burnham will have to provide to offset the hit to pensioners. For reference, projections for the lock suggest it will cost over GBP 15bln/yr in 2030.

- Italy sold EUR 6.5bln (vs exp. EUR 5.5-6.5bln) 3.95% 2032 and 4.00% 2036 BTPs.

- UK sold GBP 4.25bln 4.875% 2036 Gilt: b/c 3.34x (prev. 3.65x), average yield 5.383% (prev. 5.155%), tail 0.5bps (prev. 0.1bps).

- Deutsche Telekom (DTE GY) files to sell EUR 1.5bln three-parter.

- Japan sold JPY 300bln in 40-year JGBs; b/c 3.10x (prev. 2.82x), highest accepted yield 4.125% (prev. 3.865%). Price at the highest accepted yield 93.69 (prev. 98.68).
Commodities

- WTI Nov and Brent Dec futures are modestly firmer/flat but off earlier highs as traders continue to digest conflicting US-Iran developments (see below). WTI trades towards the lower end of a USD 92.44-94.74/bbl range, while Brent similarly sits near the bottom of a USD 97.62-100.28/bbl range, albeit both firmer intraday.

- Dutch TTF is softer, pulling back from earlier highs despite continued concerns around European energy security. The European Commission has asked member states to consider measures to reduce gas and electricity demand for as long as necessary. TTF is choppy but currently towards the middle of a EUR 71.65-73.10/MWh range.

- Precious metals are firmer as they attempt to recover some of Monday’s heavy losses, helped by the modest pullback in global yields this morning. Spot gold trades towards the upper end of a USD 4,113-4,149/oz range, although fundamentals remain against the yellow metal amid high energy prices and expectations of further Fed tightening. Spot silver is flat towards the middle of a narrow USD 60.29-61.03/oz range.

- Base metals are softer, with the complex remaining near recent lows amid subdued risk sentiment and ahead of China’s holiday period. 3M LME copper sits at the bottom of a USD 14,391-14,518/t range, while COMEX copper is lower by around 0.6%.

- In geopolitics, Iran expects a US response today to its latest proposal on reopening the Strait of Hormuz, although reports of Tehran showing flexibility on its nuclear position were denied by Iranian officials, while Trump also denied offering sanctions relief or frozen funds in return for nuclear concessions. This morning, Iran’s Parliament Speaker warned that if Iran cannot sell oil, no one in the region will sell oil, while an explosion was reported involving a commercial vessel in the Strait and Houthis reportedly attacked oil facilities in Yanbu. On the supply side, Saudi Arabia has resumed crude loading from Yanbu following partial repairs to the East-West pipeline.

- Gas production in Iran's South Pars Phase 11 reaches 1bln cubic feet, IRIB reported.

- Iraqi Oil Ministry announces the start of trial operations for the storage capacity project at the Nasiriyah gas depot, INA reported.

- EU Energy Commissioner Jorgensen said they do not want to relax methane rules, but rather to delay their implementation.

- Spanish Energy Minister said that Spain, Portugal and Luxembourg sent a letter to the Commission asking for a new renewable energy capacity. Spain wants the EU to consider measures to capture windfall profits from high energy prices. Spain is still waiting for a response to the proposal. Spain wants a permanent levy on the oil and gas industry to raise climate funds.

- Syria said gas pipeline fire between Al-Shola and Deir al-Zour caused by sabotage, while efforts underway to extinguish fire and fire stopped gas supply from Jbeissa plant to power stations.

- British government is said to be privately lobbying the Trump administration for an exemption should the US impose any diesel export ban, according to sources.

- IEA Chief Birol said Europe is one of the regions most exposed to the degrading diesel market, which the IEA is monitoring closely. IEA will discuss with member governments whether more strategic reserve releases are needed. IEA is discussing the situation with countries.
Trade/Tariffs:

- Nvidia (NVDA) and AMD (AMD) are lobbying US President Trump's administration to stop lawmakers from curbing exports to China, Politico reported citing sources; asking that lawmakers hold off on the China-related chip export restriction in the defence bill. The legislation in question has bipartisan support.

- US import bans on a range of Canadian products, including alcoholic beverages, dairy ingredients and some motorcycles, took effect as scheduled.
Geopolitics: Ukraine

- Estonian official said Russia was behind an arson attack on defence maker Milrem Robotics.

- Ukraine's air force reported guided bombs striking the Kharkiv region.

- Russian President Putin orders an increase in the size of the Russian army.

- FT reporter posted after a day of relentless drone attacks, Russia is now hitting Kyiv with a wave of ballistic missiles and several explosions have shaken Ukraine's capital in the last few minutes.
Geopolitics: Iran

- Iranian Parliament Speaker Ghalibaf said if Iran cannot sell oil, no one in the region will sell oil, and warns that if Iran’s security is not ensured, no infrastructure will be safe, ISNA reported.

- IRGC reiterates that Iran will never seek a nuclear weapon, Al Jazeera reported; reiterates conflict takes a different form and will bring new weapons to the field. Most of the American bases in the region have been destroyed and can no longer be used again.

- US Secretary of State Rubio tells Fox News Iran has threatened to attack our interests around the world and we are taking those threats very seriously, while he warned there will be repercussions if American interests are attacked.

- Iran Supreme Leader senior adviser warned that if Iran is attacked by the US again, the confrontation will expand to new fronts, according to Press TV.

- Iranian MP said before any negotiations, the US must accept Iran's conditions, reported Fars.

- An explosion was reported in the Strait of Hormuz, which is said to be a commercial ship attempting to pass through the southern route of the Strait, Fars reported citing Ambrey.
Other:

- Houthis reportedly attacked oil facilities in Yanbu on the Red Sea with a large number of ballistic missiles and drones; satellites showed several giant oil storage tanks at the Al-Mu'ajiz terminal in southern Saudi Arabia ablaze, Al Akhbar reported. According to an economic source close to the Ansar Allah movement, who spoke to Al-Akhbar, Sana'a forces have designated Aramco assets in Jizan, Najran, and Yanbu, valued at USD 100bln, as legitimate targets in the current round of fighting. This phase will be followed by the addition of strategic facilities of equal importance to Aramco's to their target bank.

- Intelligence sources say that Houthis expand target bank in Saudi Arabia, according to ILNA.

- N12's Lipkin reported that the commander of Hama's northern Gaza Strip brigade was "eliminated".

- US Treasury Department said Treasury Secretary Bessent met with Lebanon's PM today, while he urged Lebanon to disrupt Iran and Hezbollah networks.

- US Secretary of State Rubio told Lebanon's PM, we support a sovereign Lebanese state free from the harmful influence of Hezbollah and Iran. said:. Tripartite framework is the only way to achieve lasting peace between Lebanon and Israel.

- US Secretary of State Rubio urges Cuba to choose a different path and said the US will not tolerate threat to national security.

- Riyadh airspace experienced threat disruption and flight suspensions with planes held in holding pattern over Riyadh for about 20 minutes, according to SNN.

- North Korea said US approval for South Korea's nuclear submarine increases regional instability.
US Event Calendar

- 9:00 am: Jul FHFA House Price Index MoM, est. 0.1%, prior 0%

- 10:00 am: Sep Conf. Board Consumer Confidence, est. 89, prior 89.4

- 10:00 am: Aug JOLTS Job Openings, est. 7227.5k, prior 7271k
Central Bank Speakers

- 11:00 am: Fed’s Bowman Delivers Opening Remarks

- 12:40 pm: Fed’s Barr Speaks On Economic Outlook

- 1:00 pm: Fed’s Goolsbee Speaks in Moderated Discussion

- 1:30 pm: Fed’s Musalem Speaks on US Economy

- 2:00 pm: Fed’s Williams Gives Keynote Remarks

- 3:00 pm: Fed’s Waller Speaks on Payments System
DB's Jim Reid concludes the overnight wrap

The relentless bond selloff has shown no sign of easing, with a fresh rise in yields overnight as oil prices keep moving higher. The immediate driver was the weekend news that President Trump had rejected Iran’s proposal. So Brent crude was up +0.92% yesterday to $105.28/bbl, and this morning it’s up another +1.92% to $107.30/bbl. And as concerns have mounted about persistent inflation, that’s pushed yields up to multi-year highs once again. In fact, yesterday saw the 10yr Treasury yield (+7.6bps) close at 5.24%, and this morning it’s up further to 5.26%. So we’re not far off the 2007 closing peak of 5.29%, which would then be its highest level since 2002 if that’s surpassed. Moreover, yesterday started to see growing pressure on risk assets as well, as the S&P 500 fell -0.77%, whilst US and European HY spreads reached their widest levels since April.

Those oil moves were the main catalyst for the latest bond moves, as the weekend headlines made clear that both the US and Iran remained far from an immediate deal. After all, Trump said on Saturday that “They made a proposal but I rejected it”. And Iran’s foreign minister Araghchi said on Sunday that “we have no reason to come back to diplomacy and engage with this administration once again”. So when oil markets reopened again yesterday, that immediately drove a fresh jump.

To be fair, there were some signs of potential progress, as Iran’s foreign minister Abbas Araghchi met with mediators in New York yesterday, according to Iran’s ISNA. And later on, we saw similar reports by CNN and then Axios that Trump was open to sanctions relief and releasing frozen Iranian funds if there was “concrete” progress by Iran on the nuclear issue. So coupled with the news that Saudi Arabia has restored about half the flows through its East-West pipeline, this helped Brent pull back to flat on the day after trading as much as +4.5% higher. But then into the close, oil prices moved higher again as Trump denied the Axios story, while Iran’s Press TV claimed that reports of Iranian flexibility in nuclear talks were false.

Given all the rhetoric from both sides, investors have become more pessimistic since last week’s hopes about some kind of negotiated deal around the UN. In general, there’s been a growing awareness that hopes for a US-Iran deal have been repeatedly dashed in recent months, and that scepticism about the Strait of Hormuz reopening any time soon has led investors to price a longer period of high prices into next year. For instance, the December 2027 Brent future (+0.22%) closed at a new high of $80.29/bbl yesterday, and this morning it’s up again to $80.67/bbl. So for markets it wasn’t just a story about front-end prices yesterday, but a more protracted period of high oil prices stretching well into 2027.

This inflation momentum led investors to price in a more hawkish path for central banks, with growing expectations of a Fed rate hike at their next meeting. Indeed, as we go to press this morning, futures are pricing in a 73% chance of an October hike. And further out, markets are now pricing in the most hawkish path to date for the coming months, with 93bps of hikes now priced by the June 2027 meeting. Those moves came as Fed Governor Cook said that the labour market appears well positioned to handle higher rates, suggesting it is “roughly in balance and gradually improving.”

With markets pricing in more rate hikes and energy prices up yet again, that put even more pressure on Treasuries across the curve. Among others, the 10yr yield (+7.6bps) moved up to 5.24% by the close, leaving it not far away from its 2007 closing peak of 5.29%. Indeed, if it surpasses that milestone, it would then be the highest 10yr yield since 2002. Elsewhere, yesterday also saw the 2yr yield (+7.9bps) rise to 4.93%, the highest since 2024, and the 30yr yield (+5.6bps) rose to a new post-2004 high of 5.55%. And once again, it was real yields driving most of the increase, with 10yr real yields (+7.1bps) reaching a new post-2008 high of 2.89%.

Over in Europe it was much the same story, with yields also hitting multi-year highs across the continent. That included 10yr bunds (+4.1bps), which hit a post-2009 high of 3.64%, whilst 10yr OATs (+7.8bps) hit a post-2008 high of 4.77%, and 10yr gilts (+5.6bps) hit a post-2007 high of 5.42%. Moreover, there was also a widening in sovereign bond spreads, with the Franco-German 10yr spread up to a post-2012 high of 113bps. The last time it was that wide was just a few weeks before Mario Draghi delivered his famous “whatever it takes” speech that was seen as a turning point in the Euro crisis.

That backdrop also hit equities on both sides of the Atlantic, with the major indices generally moving lower. In the US, the S&P 500 (-0.77%) fell in a broad-based decline, with matters not helped by a larger fall for the Magnificent 7 (-1.72%). Nevertheless, some of the defensive sectors managed to post modest gains, including consumer staples (+0.40%), healthcare (+0.29%) and energy (+0.21%). Meanwhile in Europe, the STOXX 600 (+0.005%) inched up by less than a basis point, as strong gains for equities in the Netherlands, Austria and Greece helped to outweigh declines in the larger countries, with the DAX (-0.13%) and the FTSE 100 (-0.10%) both falling.

There were also signs of stress in other risk assets yesterday, as IG and HY credit spreads widened to levels last seen in April in both the US and Europe. So by the close, US IG (+2bps) and HY (+9bps) had both seen a notable jump, as had European IG (+3bps) and HY (+9bps). Moreover, that comes after US HY saw its biggest weekly widening last week (+27bps) since October last year.

This trend has generally continued overnight, with many indices in Asia lower this morning, including the Nikkei (-1.24%), the KOSPI (-0.93%) and the Hang Seng (-0.63%). The main exception to this is in mainland China, where the CSI 300 (+0.03%) and the Shanghai Comp (+0.08%) have posted very modest advances. Meanwhile, the rise in bond yields has also continued, with Japan’s 10yr yield (+0.8bps) up to 3.07% this morning. That said, despite the selloff, Japan’s 40yr government bond auction still attracted the strongest demand since 2020, with the bid-to-cover ratio at 3.1, up from 2.82 at the previous auction.

Otherwise overnight, the hawkish newsflow has continued, as the Reserve Bank of Australia delivered a 25bp rate hike, which takes its cash rate target to 4.60%. The move was expected by markets, and its statement said that “inflation is still too high” and they would be willing to raise “the cash rate target further if needed.” Meanwhile, Australia’s 10yr government bond yield is up +0.2bps this morning at a post-2011 high of 5.42%.

Looking at the day ahead, US data releases include the JOLTS report for August, the FHFA’s house price index for July, and the Conference Board’s consumer confidence for September. Otherwise, we’ll get UK mortgage approvals for August, and the European Commission’s economic sentiment indicator for the Euro Area in September. Then, from central banks, we’ll hear from the Fed’s Bowman, Barr, Goolsbee, Musalem, Williams and Waller, the ECB’s Kazimir, Nagel, Escriva, Cipollone, and the BoE’s Mann and Taylor.

https://cms.zerohedge.com/users/tyler-durden
Tue, 09/29/2026 - 08:39

https://www.zerohedge.com/markets/futures-rise-oil-drops-dragging-rates-lower

Bill Gates Calls For Globalist Crackdown On AI Bill Gates Calls ...

2026-09-17T00:05:00Z

Bill Gates Calls For Globalist Crackdown On AI

Bill Gates Calls For Globalist Crackdown On AI

https://modernity.news/2026/09/16/bill-gates-calls-for-globalist-crackdown-on-ai/,

Bill Gates has a new emergency. With the climate apocalypse no longer selling, the Microsoft co-founder is touring the press circuit warning that artificial intelligence is an "alien intelligence," that no government on earth is ready for it, and that the only fix is an international organization to police the technology.

President Trump has already rejected the pause. The left, the globalist class, Beijing's spy chief, and now a Sundance-to-Netflix documentary are all at once selling the same story.

In a Reuters interview published Tuesday, Gates said no capital is prepared for what is coming. "I don't think any government is nearly as deep on this as they have to be," he told the outlet. "Governments are way behind on this one."

Bill Gates Calls for an 'International Organization' to Regulate AI

"It's not the role of the industry to self-regulate or understand the whole-of-society impact that comes out of AI ... The depth of understanding of AI ... is too low in every entity, including the government." https://t.co/y85BgPDDJ6
— Chief Nerd (@TheChiefNerd) https://x.com/TheChiefNerd/status/2099904100133491192?ref_src=twsrc%5Etfw
He compared AI to a Hollywood invasion plot in which Washington and Beijing suddenly hold hands. "There's all sorts of movies where some aliens are coming, and magically the US and China and everybody comes together to solve the problem," Gates said. "AI is kind of like this alien intelligence. It's here, and we better do like it shows in those movies."

The New York Post framed it as a "terrifying warning." Forbes led with the line Gates attached to his foundation's Goalkeepers report: left to the market, "AI will be designed by and for the richest people in the world."

Bill Gates Warns AI Will Be Designed 'By And For The Richest' Without Regulationhttps://t.co/DXTP4Qjbn5 https://t.co/HKYEuyCQXb
— Forbes (@Forbes) https://x.com/Forbes/status/2099830622155870435?ref_src=twsrc%5Etfw
He wrote that AI could be "a great equalizer - or widen the gap," and that choices made in "the next 12 to 18 months" will decide whether the tools "benefit the people who already have the most or reach those who have the least." He added that the good outcome "won't happen by accident."

On The Times Tech Pod, Gates went further and called for a dedicated global apparatus. Industry, he said, should not be trusted to police itself. "It's not the role of the industry to self-regulate or understand the whole-of-society impact that comes out of AI," he argued. "The depth of understanding of AI ... is too low in every entity, including the government."

In a late-August essay, Gates wrote that "the transition to the AI era will be one of the most turbulent times in human history" and that "unfortunately, right now, we are not preparing for it."

He floated a new international organization built from pieces of nuclear inspections, aviation rules, and ozone treaties - a permanent cross-border watchdog for a technology American labs still lead. He has been pitching the same idea to Trump's team and says he wants a meeting with China's Xi Jinping later this year.

This guy just wants global authoritarianism

He tries it however he can

Climate, health, now AI
— The Individual (@Tweet137188103) https://x.com/Tweet137188103/status/2099908189416272196?ref_src=twsrc%5Etfw
While Gates talks crisis, his foundation is writing checks to expand the thing. On Tuesday the Gates Foundation pledged at least $1 billion over two years to spread AI in education, health, and agriculture - 40 percent tutoring and classroom tools, 40 percent diagnostics and drug discovery, the rest farming advice and the data layer that makes models work in languages other than English. The money sits inside a previously announced $9 billion-a-year spend.

David Sirota caught the split in one line.

Bill Gates is warning about the dangers of AI while spending $1 billion to promote the expansion of AI https://t.co/sjgvEalB4r
— David Sirota (@davidsirota) https://x.com/davidsirota/status/2099848689422565592?ref_src=twsrc%5Etfw
That is the move. Sound the alarm. Demand a global referee. Keep a foundation-sized stake in the rollout.

This is not Gates' first end-of-the-world product. For years he sold net-zero as civilization's last exit - fewer cows, fake meat, the whole ritual. Then the data-center boom needed power, lots of it, and last October he allowed that climate change "won't lead to humanity's demise." Trump treated the climbdown as a concession speech. "I (WE!) just won the War on the Climate Change Hoax," he wrote. "Bill Gates has finally admitted that he was completely WRONG on the issue. It took courage to do so, and for that we are all grateful. MAGA!!!"

The scare apparatus was not retired. Once everyone realised the planet was not going to cook on schedule, the same network needed a replacement threat big enough to justify treaties, inspectors, and "international coordination."

AI arrived on cue: jobs, cyberattacks, companions, bioterror, "loss of control." All of it real enough to discuss. None of it a license to park American development under a UN-flavored commission while Beijing keeps shipping cheap open-weight models.

The entertainment wing has added its own contribution in the same news cycle. Netflix has just put up The AI Doc: Or How I Became an Apocaloptimist, the Sundance premiere from Oscar-winner Daniel Roher (Navalny) and Charlie Tyrell. The film sits Sam Altman, Dario Amodei, Demis Hassabis, Reid Hoffman, Yuval Noah Harari, and the usual "humane tech" chorus in front of a camera and walks the audience through impending AI dread dressed up as a father-to-be's anxiety.

One of the producers said the hope was that it would work "kind of like 'An Inconvenient Truth' or 'The Social Dilemma' for AI." That is the tell. Same template. New monster.

Want to understand how propaganda works?

Tomorrow, Netflix premieres The AI Doc starring Sam Altman, Dario Amodei, and also Reid Hoffman. ?

The topic? Impending doom about AI.

The movie was launched by Sundance Festival in February. Yup. The Sundance Documentary Program... https://t.co/0BEGcjsLsJ
— Erikaaa (@ErikaCA47) https://x.com/ErikaCA47/status/2099693481975259502?ref_src=twsrc%5Etfw
The film premiered at Sundance in January, played theaters in March, and dropped on Netflix this week - the same week Gates, Obama's orbit, Bernie Sanders, and the lab CEOs were all pushing slowdown and supervision.

The Sundance Documentary Film Program was built with founding money from George Soros's Open Society Foundations. Users circulating the credits call the Netflix drop a globalist op.

When the policy class needs the public frightened into a pause, Hollywood still knows how to dim the lights.

Mass media has just launched one of the largest PSYOPs since COVID-19.

This time, it's the World Economic Forum's long-awaited "CYBER PANDEMIC." https://t.co/juLBRN0EfS https://t.co/KRW39D0ZxL
— Nicolas Hulscher, MPH (@NicHulscher) https://x.com/NicHulscher/status/2099934855274324287?ref_src=twsrc%5Etfw

Now I'm fully convinced this is a psyop https://t.co/3wJ63q73tB
— Sola Awodiya (@Solaawodiya) https://x.com/Solaawodiya/status/2099612591106707530?ref_src=twsrc%5Etfw
Over the weekend, Anthropic's Dario Amodei called on rivals to "pace the frontier." Sam Altman and Elon Musk backed the letter. Former researcher Jacob Coxon quit and said AI "could kill us all by the end of the decade."

? JUST IN: Elon Musk just said if Anthropic and OpenAI people are warning that the models are "very dangerous," we should believe them. Then he mocked the pitch. A 10 PERCENT chance of annihilating humanity... and how much of the IPO would you like?

Fox's guest nailed the real... https://t.co/EWLbE1Rte3
— Gunther Eagleman™ (@GuntherEagleman) https://x.com/GuntherEagleman/status/2099911408561320085?ref_src=twsrc%5Etfw
President Trump waved the pile-on off. The United States is "leading China in AI," he said. "Whoever wins AI, wins." A lot of "very negative forces," he added, are "bringing up things that won't happen." Guardrails, fine. A pause, no. Asked about existential risk leaving Dallas, he shot back: "No, I don't have any."

Jesse Watters noted that the same CEOs are "begging for government regulations," while claiming the tech is more powerful than a nuclear weapon and could wipe everyone out in three years. Then the obvious question: if they are that terrified of their own product, why do they need politicians to slow it down for them? "Something smells fishy with these IPOs."

? WOW: AI CEO's are BEGGING for government regulations! ??

They claim AI is more powerful than a nuclear weapon and could kill us all in 3 years.

But why do they need politicians to slow it down? Something smells fishy with these IPOs! ?? https://t.co/UVsEsZOrUN
— Jesse Watters (@JesseBWatters) https://x.com/JesseBWatters/status/2099625672016613420?ref_src=twsrc%5Etfw
David Sacks named the shakedown. OpenAI and Anthropic are the frontier. If their unreleased models are too hot, they can simply not ship them. Demanding antitrust waivers, embedded evaluators, and a regulatory architecture as the price of restraint, he wrote, "will look like blackmail of the public and the political system."

Regulation written by the incumbents does not save humanity. It freezes the ladder so the next lab never climbs it - right as those same firms eye public markets.

Barack Obama took the other door. At a Manhattan fundraiser he told Hakeem Jeffries that if Democrats win the House they should make AI a governing project. "Once you are speaker, I would strongly urge that the Democrats put together a framework for a very public conversation."

Then: "This is something that is moving very fast in private hands, and if we don't get on top of it, I think can be dangerous." Jeffries saluted on command. "President Obama is correct that decisive action must be taken on artificial intelligence... Republicans have abdicated their responsibility... We will not repeat their error."

Bernie Sanders has been running the same play for weeks: pause advanced development, permanently ban superintelligence, and get Trump and Xi to sign a treaty. On Tuesday, at a Washington "Pro-Human Assembly," he said a runaway system "will not be an American problem. It will not be a Chinese problem. It will be humanity's problem," and he again demanded a comprehensive pause-and-ban deal at the coming Trump - Xi meeting.

That is the globalist package in one stack: slow the American frontier, internationalize the rules, and call it safety.

Then China's ministry of state security walked into the same conversation. Chen Yixin, Beijing's top spy chief, used the state-run magazine China Cyberspace to warn that AI is "directly threatening our political security, institutional security, and ideological security."

He called for tighter Party control and stricter government oversight. Hostile forces, he wrote, "abuse generative artificial intelligence technologies... to fabricate political rumors, spread harmful information, and incite confrontational sentiments at low cost and in large quantities."

?? BREAKING - Here we go. Now China's top spy chief is warning about the dangers of AI and calling for greater government oversight...

All while China is using Anthropic's AI, Claude, to develop weapons and spy on America. It's like China was behind this ALL ALONG...

He is... https://t.co/Y6Ti1nf3Fd
— The Patriot Oasis™ (@ThePatriotOasis) https://x.com/ThePatriotOasis/status/2099915179450405113?ref_src=twsrc%5Etfw
He named American models - Anthropic's Claude Mythos and OpenAI's GPT-5.5-Cyber - as a "disruptive upgrade" in cyber capability, and billed AI as "a new arena for strategic rivalry among major powers."

He is not asking America to pause so the world can be safe. He is asking the Party to lock down speech, data, and "ideological security" at home while Western executives and Democratic politicians talk themselves into a slowdown.

Days earlier, Anthropic's own threat report said China-linked actors had already used Claude for weapons software and intelligence work the company then banned: an electronic-warfare and air-defense suite whose simulation was expanded to twelve targets in Taiwan; research into foreign high-power microwave weapons; and domestic surveillance pipelines that collapse "many teams of analysts" into a single office producing thousands of investigations a month.

Anthropic publishes an alarming new report saying it blocked several possible attempts to use its AI models to develop biological weapons

"Anthropic says a lab outside the US gained access to Claude from an unsupported region, using the model to help research a highly pathogenic... https://t.co/0ngckQbOB2
— Wall Street Apes (@WallStreetApes) https://x.com/WallStreetApes/status/2099699121271791886?ref_src=twsrc%5Etfw
Chinese labs, Anthropic said, also tried to strip Claude's capabilities to feed their own models. Beijing's foreign ministry shrugged that it was "not aware" of the report and opposed "smears."

So the sequence is simple. China runs Western models for weapons and control. China's spy chief then lectures the world about AI danger and Party oversight. Gates wants a global body. Sanders wants a Trump - Xi treaty. Obama wants Democrats to "get on top of it." Netflix wants you crying on the couch. The CEOs want a rulebook that just happens to protect their lead.

America does not need Bill Gates' alien-movie summit, Chen Yixin's definition of safety, or another Inconvenient Truth with better animation. It needs the thing Trump already said out loud. Win the race.

https://cms.zerohedge.com/users/tyler-durden
Wed, 09/16/2026 - 20:05

https://www.zerohedge.com/ai/bill-gates-calls-globalist-crackdown-ai

US Scientists Crack Superconductor Code - Zero Energy Loss Moves ...

2026-04-08T02:35:00Z

US Scientists Crack Superconductor Code - Zero Energy Loss Moves Closer To Reality

US Scientists Crack Superconductor Code - Zero Energy Loss Moves Closer To Reality

https://interestingengineering.com/science/us-lab-unlocks-secrets-of-superconductors,

Researchers in the United States have unlocked secrets of high-temperature superconductors.

Researchers at the U.S. Department of Energy’s (DOE) Argonne National Laboratory have discovered how tiny changes in superhydride structure enable superconductivity at near room temperatures but extreme pressure - offering clues for designing more practical superconductors.

“These experiments show what the upgraded APS can do. We can now study atomic-level structures with unprecedented detail in materials under extreme pressure,” said Maddury Somayazulu, Argonne physicist.

Superconductors allow electricity to flow without resistance

Researchers revealed that superconductors allow electricity to flow without resistance, meaning no energy is lost as heat. This property makes them useful for technologies such as MRI scanners, particle accelerators, magnetic-levitation trains and some power-transmission https://interestingengineering.com/energy/quantum-inspired-tech-turns-heat-into-electricity-via-light.

They also highlighted that most superconductors, however, only work at extremely low temperatures - often hundreds of degrees below zero Fahrenheit. Keeping materials that cold requires complex and costly cooling systems, which limits where the superconductors can be used.

Now, researchers in the U.S. have helped take a step toward easing that limitation. They have gained new insight into a class of https://interestingengineering.com/energy/floating-generator-makes-electricity-from-raindrops called superhydrides that can become superconducting at much higher temperatures - around 10 degrees Fahrenheit.

In the new study, Hemley and his fellow researchers explored whether changing the material’s chemistry could lower the pressure needed for superconductivity. They added a small amount of yttrium to the lanthanum superhydride to make it more stable and reduce the pressure required.

“To reach these extreme pressures, we squeezed a tiny sample between two diamonds,” https://www.anl.gov/article/can-practical-superconductors-work-without-extreme-cooling Maddury Somayazulu, a physicist at the APS. The team’s diamond-anvil device can generate pressures as high as five million atmospheres.

Forming superconducting material at high pressure and temperature

After forming the superconducting material at high pressure and temperature, the team used high-energy X-rays from the APS to study its structure (at beamlines 16-ID-B and 13-ID-D).

”We focused an intense X-ray beam onto a sample only a few micrometers thick and about ten to twenty micrometers across,” said Vitali Prakapenka, a beamline scientist and research professor at the University of Chicago. One micrometer is about 1/70th the width of a human hair.

The recent APS upgrade made these measurements possible. Its brighter, more tightly focused X-ray beam allowed researchers to study extremely small samples while changing the pressure, https://www.anl.gov/article/can-practical-superconductors-work-without-extreme-cooling a press release.

“That beam allowed us to separate signals coming from the tiny sample itself as opposed to those coming from the surrounding materials and diamond anvils,” Prakapenka said.

The team found that small differences in how atoms are arranged in a crystalline lattice can strongly affect superconductivity. They identified two different crystal structures, each becoming superconducting at a slightly different temperature, as per the https://www.anl.gov/article/can-practical-superconductors-work-without-extreme-cooling.

“These experiments show what the upgraded APS can do,” Somayazulu said. ”We can now study atomic-level https://www.anl.gov/article/can-practical-superconductors-work-without-extreme-cooling with unprecedented detail in materials under extreme pressure.”

Researchers also highlighted that although the pressures used in the experiments are still very high — about 1.4 million times atmospheric pressure — the researchers see this as part of a longer path forward. They are adding more elements to lower the pressure further with the goal of making these materials practical.

https://cms.zerohedge.com/users/tyler-durden
Tue, 04/07/2026 - 22:35

https://www.zerohedge.com/technology/us-scientists-crack-superconductor-code-zero-energy-loss-moves-closer-reality