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Debt Rattle February 6 2026

Feb 062026
 
 February 6, 2026  Posted by at 10:47 am Finance Tagged with: , , , , , ,  57 Responses »


Albert Cuyp Cows in a river 1650


• UBS: SpaceX-xAI Merger Signals Rise Of “Orbital AI” (ZH)
• This is When Volatility Kicks In – Martin Armstrong (USAW)
• Netherlands To Tax Unrealized Gains: EU Wealth Grab And Global Implications (Kolbe)
• Bill Gates, Reid Hoffman Deny Epstein Malarkey, And Here’s Some Weird Sh*t (ZH)
• DHS Secretary Noem Identifies Another Leaker and Refers to DOJ for Prosecution (CTH)
• Why Democrats Fight Immigration Enforcement (Matt Margolis)
• How Many Handshakes From Epstein Are You? (Akhmedova)
• Nancy Mace Demands SUBPOENA For Bill Gates In Epstein Case (MN)
• Vance Slams ‘Incestuous’ US Elites Over Epstein Files (RT)
• Vance To Lead Sweeping Anti-Fraud Task Force Investigating California (ZH)
• Vance and Rubio Lead ‘Critical Minerals’ Strategic Ministerial Gathering (CTH)
• How Fast Is The Asian Population Ageing? (ZH)

 

 


What would YOU do with your days in a world where robots fulfill every need and want?

 

 

 

 


“… the merger of Musk’s SpaceX and xAI earlier this week, a transaction that has lifted his net worth to $850 billion..”

• UBS: SpaceX-xAI Merger Signals Rise Of “Orbital AI” (ZH)

In September 2024, we penned a note that Elon Musk was on track to become the world’s first trillionaire by 2027, driven by what we described as “space race bets.” That call looks increasingly correct following the merger of Musk’s SpaceX and xAI earlier this week, a transaction that has lifted his net worth to $850 billion. By contrast, former WeWork CEO Adam Neumann, who once famously said in 2019 that he wanted to live forever and be the first trillionaire, must be watching Musk’s empire soar to new heights in disgust. Musk’s decision to fold xAI into SpaceX is already being framed by UBS as an “orbital AI” investment angle, positioning Musk at the center of low-Earth orbit dominance and next-generation AI compute.


UBS trader Jephine Wong provided clients on Wednesday with what has caught her eye with the xAI-SpaceX deal:

“X” marks the spot as Elon Musk moved swiftly to fold xAI into SpaceX – an all stock deal valuing the combined entity at ~$1.25T (~$1T for SpaceX; ~$250B for xAI). The signal is clear: SpaceX is planting a flag in orbital AI, betting that a meaningful share of compute -essentially data centers in space- will be operating within 2–3 years. It’s a bold storyline to take into a potential summer/fall ~$50B IPO, but it also introduces new complexity for investors: SpaceX is generating ~$8B in EBITDA while xAI is burning approximately $1B per month. The roadshow narrative shifts from a pure- play space champion to a space-plus-AI hybrid -asking investors to balance operating strength against AI scale capex. EchoStar, a holder of SpaceX- linked assets, slipped on the news – a sign that not everyone is converted just yet.”

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“Europe needs war. You already had the finance ministers of France and Germany say that they may need IMF bailouts. This is why they want war. It’s a distraction.”

• This is When Volatility Kicks In – Martin Armstrong (USAW)

Legendary financial and geopolitical cycle analyst Martin Armstrong warned in late December to be ready for the “Perfect Storm for Debt, Economy, War, Gold & Silver.” The rain and thunder started at the beginning of February, and the storm is just beginning. Armstrong says, “This is where the volatility starts kicking in. I think Europe is so desperate for war. My concern with the Trump Administration is I would not step a foot in there. Europe needs war. You already had the finance ministers of France and Germany say that they may need IMF bailouts. This is why they want war. It’s a distraction.


Without war, people are going to figure out what the hell is going on. My pension fund is gone. Everything is defaulting. What’s going to happen? They are basically going to be storming the parliament with pitch forks.” Where are you going to see volatility? Armstrong says, “The volatility is in everything. You just saw the metals come down. They will probably consolidate before they go back up when people realize that Europe is going to go to war. What will happen? The dollar will go up. Metals will go up. It will be like WWI and WWII. The US became the financial capital of the world because Europe blew its brains out twice. Now, they think the third time is going to be the charm. . .. If there is war in Europe, it will be maybe in the summer. It does not look good.”

One bright spot was the Ukraine/Russia peace plan Armstrong put together at the request of President Trump. Armstrong says, “I did get a letter from President Trump . . . thanking me for writing it. So, it was sanctioned by Trump, and that’s pretty much everything he is doing except for NATO . . .. At the meeting, they told me you are correct. We know we are not going to be at war with Russia.” Let’s hope the US stays out of a coming Russia/Europe war. If we do, you can thank Martin Armstrong who put his peace plan together for Trump for free.

Armstrong also says the illegal alien invasion created by Democrats is the way they are trying to stay in power. Don’t be fooled by the close Dem wins in recent special elections. Armstrong’s “Socrates” computer has seen no advantage for either side for the midterms this year–yet. Armstrong sees the dollar staying strong and says, “You can’t park money in Canada, Mexico, Japan, or Europe. . ..Where are you going to put serious money? The United States is the only place—sorry. This is why the United States is what it is. Big money needs a place to park.”

On gold and silver, Armstrong is decidedly bullish on both metals and says, “This is not the major high. We have too much craziness on the horizon, from sovereign debt default to war. You are just getting a pullback and consolidation. . .. I am looking at the $165 to $200 per ounce area for silver. For gold, I am looking at resistance at the $8,500 per ounce level and, after that, $10,000 per ounce . . . in the next few years.”

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Taxing the money you haven’t yet made…

• Netherlands To Tax Unrealized Gains: EU Wealth Grab And Global Implications (Kolbe)

A fiscal storm is brewing in the Netherlands. With the potential introduction of a tax on unrealized capital gains, The Hague is set to become a testing ground for the systematic transfer of wealth from the private sector to the state. Across all government levels, the European Union is increasingly transforming into an aggressive parasitic system. A fundamental clash between the public and private sectors is intensifying across the EU. In March, both chambers of the Dutch parliament will decide on the implementation of an annual tax on unrealized gains. Going forward, all increases in value—from real estate and stocks to bonds and cryptocurrencies—would fall under this fiscal framework.


This move significantly accelerates the extraction of capital from the private sector, constituting a political rule violation. Already taxed income and assets would be hit again based on hypothetical gains, severely impeding private wealth accumulation. Support for this measure spans both right- and left-wing parties. It reflects a form of fiscal horseshoe logic, apparently anticipating a severe national financial crisis. For the EU as a whole, this is disastrous. That a nation with a debt ratio of just 46% and new borrowing of slightly over 2% of GDP would effectively declare war on private capital signals profound economic distortions in one of Europe’s most successful economies. One naturally asks: if this is happening in the Netherlands, what does it say about the rest of the European Union?

The End of the Productive Economy

A glance at Eurozone manufacturing suggests a storm is brewing. Deindustrialization in Germany, the largest industrial base in Europe, began in 2018 and has accelerated ever since, with massive capital flight. What applies to Germany applies even more so to the fragile peripheral European economies. For decades, Europe’s economy has shifted from production toward financial and wealth-rentier models. As financialization advances, production and value creation increasingly relocate abroad. This mirrors a process the United States underwent for decades and attempted to reverse under President Donald Trump.

European states see no escape from the economic death spiral created by expanding welfare systems, uncontrolled migration, and slowly shrinking core industrial productivity. Politicians are buying time through the expropriation of citizen savings to evade growing reform pressure. Once societal patience reaches a tipping point, Europe may witness scenes similar to those currently unfolding in the U.S., where the government has effectively declared war on illegal immigration amid a media-driven defensive battle coordinated by far-left forces, globalist media, and foreign foundations.

The pressing question for Europe: how long will native populations tolerate financial assault from the state without demanding corresponding migration and welfare reforms? Several EU states already levy progressive inheritance and gift taxes. Norway recently introduced a wealth tax of roughly 1% on net assets above €160,000 per person, raising eyebrows in one of Europe’s richest nations. Spain applies a progressive wealth tax up to 3.5%, plus a solidarity wealth levy for assets above €3 million—“solidarity,” a political buzzword used to rhetorically justify impending fiscal expropriation.

This expropriation is imminent. Coalition parties have spent the past year laying the groundwork for a massive expansion of inheritance taxes. It would be unwise to rule out Germany’s politically influenced Constitutional Court approving a national wealth tax in the future.

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Lots of them.

• DHS Secretary Noem Identifies Another Leaker and Refers to DOJ for Prosecution (CTH)

The good news is the process to identify the subversive agents inside the various offices of the administration continues to yield results. The bad news is there’s a lot of them to identify and remove. Dept of Homeland Security Secretary Kristi Noem shares another leaker has been identified and removed. Additionally, she is referring their conduct to the Dept of Justice for criminal prosecution.

Both Noem and Gabbard appear to be continuing their methodical approach without fear or favor. Secretary Noem facing down the internal resistors within the FBI, who have been leaking about ICE enforcement operations. Director Gabbard working through the tentacles of the Intelligence Community to identify similarly minded IC agents. Meanwhile there was some media controversy about the FBI Special Agent in charge of the Atlanta Field office being removed from his position just prior to the execution of a federal search warrant in Fulton County. The reason for that removal now seems to come to light with the release of letter former Agent Paul Brown sent to Elections Director Nadine Williams giving her a head’s-up on the material the FBI was going to seize.

FBI Agent Brown asks Ms Williams to voluntarily hand over the material, which has the result of giving Fulton County a heads-up about the specifics of the material the FBI were going to gather and review in their search warrant. [..] Another positive outcome amid all of this, is honestly exposing FBI Director Kash Patel’s lack of operational control over the agency he heads. Each day more people are starting to realize what many of us have noted from the outset. Without first admitting the scale and scope of the problem within the FBI, there was no way Kash Patel was ever going to address it.

The issues with the FBI are obvious; a few examples: There were 40 FBI agents on the Robert Mueller investigation into Trump-Russia collusion. Why would any of them still be employed? Additionally, think about the J6 investigations and Arctic Frost, are those FBI agents still employed within the FBI? There is no apple, it’s all worms.

FEBRUARY 9, 2025:

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“…huge majorities of Republicans, Democrats, whites, Latinos, and black Americans all agreeing that you should show a photo ID to vote.”

• Why Democrats Fight Immigration Enforcement (Matt Margolis)

Democrats have spent years insisting illegal immigrants do not vote, yet Senate Minority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries just gave the whole game away. In a letter to GOP leadershi p, they demanded a slate of “reforms” to immigration enforcement as the price for funding the Department of Homeland Security, including targeted enforcement, no masks, mandatory use of body cameras, and other demands, several of which I suspect are nonstarters. I don’t see Democrats getting anywhere with these, but the big thing is that buried in that list is a rather revealing demand:


“Protect Sensitive Locations – Prohibit funds from being used to conduct enforcement near sensitive locations, including medical facilities, schools, child-care facilities, churches, polling places, courts, etc.”

huge majorities of Republicans, Democrats, whites, Latinos, and black Americans all agreeing that you should show a photo ID to vote. Polling places? They went out of their way to include polling places right alongside hospitals, courts, and churches. There is only one thing that happens at polling places that would matter to illegal immigrants, and it is not the bake sale. Democrats have insisted for years that illegal immigrants cannot and do not vote, and that the whole issue is a right-wing myth. If that is true, then why is “polling places” even on their list of protected zones for immigration violators? No one accidentally adds “polling places” to a policy letter being negotiated at the leadership level. This is deliberate. It gives away what they are worried about… and what they are counting on.

“Democrats just admitted they think illegal aliens need to be protected at polling places. Why exactly would illegal aliens be at polling places? We MUST fully fund DHS AND pass the SAVE America Act,” Senator Katie Britt (R-Ala.) posted on X. That is the obvious question Democrats do not want to answer. If illegal immigrants are not supposed to be anywhere near the ballot box, then immigration enforcement near polling sites ought to be a non-issue.This comes as Republicans are pushing election reform through Congress with the SAVE Act. The SAVE Act is a straightforward concept: safeguard federal elections by ensuring only American citizens can cast ballots, and that an ID is required to vote.

Schumer’s response has been to smear the SAVE Act as “Jim Crow 2.0” and brand it “racist” and “dead on arrival.” That is the Democrats’ go-to play whenever Democrats feel threatened: slap a “Jim Crow” label on common-sense election rules and scare minorities into thinking Republicans are trying to stop them from voting. The problem is that even minorities aren’t buying it. As PJ Media previously reported, polling has shown consistent and overwhelming support for Voter ID laws for years. That consensus cuts across both party and race, with

Why are Democrats pushing so hard against common sense and trying to help illegal immigrants vote even though they’re not supposed to? Recent census projections show blue states are bleeding population while red states are gaining it, which will shift House seats and electoral votes after the 2030 reapportionment. As people flee high-tax, crime-ridden, Democrat-run states for freer red states, Democrats face shrinking power at the national level. That gives them every incentive to import a new population, shield it from enforcement, and eventually convert them into votes, one way or another.

That’s why Democrats have no qualms fighting so aggressively against overwhelmingly popular election reforms. For them, it’s a matter of survival.

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“Some Weird Sh*t” alright.

• Bill Gates, Reid Hoffman Deny Epstein Malarkey, And Here’s Some Weird Sh*t (ZH)

As the latest Epstein Files release continues to provide premium toilet reading and no arrests, tech billionaires Bill Gates and Linkedin founder Reid Hoffman are in full damage control mode, while President Donald Trump – whose name is all over the files as well, is back to asking if we can just move on. Other notables mentioned in the release are Steve Tisch, Richard Branson, Elon Musk, Harvey Weinstein, Leon Black, Peter Mandelson (who just imploded), Sergey Brin, Jason Calacanis, Howard Lutnick and the Nobel Prize committee (more on that later, it’s a fun one), and of course Ehud Barak.


To review – Gates, whose ex-wife Melinda says he ‘needs to answer to those things’ in the Epstein files – was featured in a 2013 email Epstein sent to himself – three months after the disgraced financier appears to have brought top Gates ‘assistant’ Boris Nikolic and ‘two Russian girls’ to Richard Branson’s island for a crypto summit. According to Epstein, Gates – who apparently severed ties with Epstein after some incident involving Boris, ‘implored’ Epstein to ‘delete the emails regarding your std, your request that I provide you with antibiotics that you can surreptitiously give to Melinda and the description of your penis.’ Gates responded to the latest email, claiming it was ‘never sent’ (incorrect) and that it’s ‘false,’ (though he did offer $100k to anyone that can make a ‘next generation’ condom earlier that year).

https://twitter.com/VigilantFox/status/2019045284689424764

Hoffman vs. Musk Meanwhile, LinkedIn founder Reid Hoffman – who went to Epstein’s island, was invited to his weird fertility ranch, and apparently left his passport in a ‘gift bag’ for Epstein – has been trading Epstein ‘gotchas’ with Elon Musk, who asked Epstein if he could bring his ex-wife to the island for a ‘wild’ party. Hoffman claims he was only on Epstein’s island to fundraise with former MIT Media Lab director Joi Ito, while Musk claims Epstein used the fact that Hoffman was on the island to try to get him to go.

Feb 1: Musk drops ‘reid was on the island last weekend,’ email Epstein sent him, and notes that Hoffman brought ‘gifts’ to Epstein. Hoffman, who says he deeply regrets associating with Epstein post-conviction, defended his visit, replying to ZeroHedge after we asked to clarify that he went to Epstein island to raise money for MIT.

When asked if President Trump deserves the same ‘assumption of innocence’ that you are claiming, Hoffman pivots, saying he’s “been calling for an investigation,” adding “No one will need to assume anything if Trump releases all of the files, and we conduct a transparent investigation into those implicated in crimes.” Shockingly, not everyone is buying Hoffman’s story…

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“Look at Ukraine. The same political class that now shocks you with its private depravity has been overseeing the destruction of a country in public. These political cannibals may not literally devour people, but the result is much the same. They would have consumed Russia too, had it not resisted.”:

• How Many Handshakes From Epstein Are You? (Akhmedova)

The US Department of Justice has released another batch of files connected to Jeffrey Epstein, so extensive that even Russia’s “foreign agents” and émigré commentators felt compelled to sift through them. “It seems this isn’t a conspiracy theory after all,” they muttered, suddenly uneasy. “It seems the American and global elite really did indulge in depravity with children. And… perhaps even something worse.” Stunned, they asked each other: Will nothing change now that the truth is out? Is the world simply evil? But the world is not “doomed.” What these revelations provoke is disgust, outrage and, for many in Russia, very little surprise.


What exactly is new here? That parts of the global elite are morally rotten? But haven’t they behaved that way in full public view for years? Was it not the same elite – acting through NATO coalitions and political blocs – that bombed countries, toppled governments, and plunged entire regions into chaos? For over a decade, the world has lived with the consequences of decisions made by a tight circle of self-styled “civilized” leaders. The problem is not just a few twisted individuals. It is the elite as a collective. It’s cohesive, protected, smug, and convinced of its own impunity. When you see how casually they destroy weaker nations in politics, it’s not hard to imagine an island where the same people feel entitled to indulge their private vices.

Political cruelty and moral corruption rarely exist separately. Yet many of Russia’s liberal émigrés, who fled in 2022 hoping to merge into this very “global elite,” seem only now to be waking up. Journalist Anna Mongait, for example, wrote that she spent an entire day studying the Epstein files as if sorting through rubbish. She says it looks unreal, as though generated by artificial intelligence: “Old men I know from official chronicles groping teenage bodies. One frame would be enough for a universal scandal, but there are thousands.”

By evening, she said she was wondering whose handshake had indirectly connected her to Epstein. The thought, she wrote, made her want to wash her hands “up to the elbow.” Now she fears Epstein will drag down not only the American establishment, but “many of our own people.” But two things must be said. First: not everyone is linked to Epstein by some chain of social proximity. Many of us are not connected to that world at all. Not by one handshake, not by ten. He will not drag down “our people,” because we were never part of that circle.

Second: you did not need to know about Epstein’s island to recognize the moral bankruptcy of the global elite. Look at Ukraine. The same political class that now shocks you with its private depravity has been overseeing the destruction of a country in public. These political cannibals may not literally devour people, but the result is much the same. They would have consumed Russia too, had it not resisted. Those who left Russia did not support that resistance. Now they recoil from the elite they once admired. But is this a moral awakening, or simple disappointment? Perhaps they distance themselves now because the political winds have shifted, because figures like Trump do not favor them. If a smiling Western politician returned who embraced their worldview, would they not stretch out their hands again?

Cleansing oneself is actually simple. Stand on firm moral ground. Judge people by their actions, not their smiles, slogans, or fashionable reputations. Understand that evil persists as long as people remain fascinated by it and eager to belong to its circle. There are fewer such admirers left in Russia today. Not least because many of them have already left, and no longer lecture the rest of us about what we should be ashamed of.

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“And I am so happy to be away from all the muck.”

• Nancy Mace Demands SUBPOENA For Bill Gates In Epstein Case (MN)

Congresswoman Nancy Mace is turning up the heat on Bill Gates, pushing for a subpoena that could force the tech tycoon to spill the beans on his shady ties to Jeffrey Epstein—exposing how deep the rot runs in the elite circles that have long evaded justice. With the DOJ dropping three million pages of Epstein docs packed with stomach-turning allegations, Mace isn’t buying Gates’ denials, demanding he testify before Congress to set the record straight or face the consequences. Mace wasted no time after seeing Melinda Gates’ eye-opening comments about her ex-husband and Epstein during an NPR interview.

The Rep. announced a push to subpoena Bill Gates in a social media blast, revealing she has asked House Oversight Committee Chair James Comer (R-KY) to haul the Microsoft founder in “immediately.” “We’re calling for Bill Gates to testify under oath on his relationship with Jeffrey Epstein in front of the Oversight Committee,” Mace declared. She added: “[Three] million pages of Epstein documents were just released by the DOJ and the allegations are SICK. If these allegations are false, Bill Gates should have no problem saying so under oath before Congress.” “Nobody is above the law. Not billionaires. Not the powerful. Nobody,” Mace added.

The latest Epstein files, unleashed by the Department of Justice, include a 2013 email from the predator himself alleging Gates caught an STD after “sex with Russians girls” and schemed to slip antibiotics to Melinda without her knowing. Another 2017 email hints at Epstein blackmailing Gates over an alleged affair with Russian bridge player Mila Antonova. Melinda’s response on NPR’s Wild Card podcast lit the fuse for Mace. Melinda said Gates and other Epstein cronies “need to answer to those things.”

“I think we’re having a reckoning as a society,” she told host Rachel Martin. “No girl should ever be put in the situation that they were put in by Epstein and whatever was going on with all of the various people around him.” Reflecting on the victims, Melinda added: “It’s beyond heartbreaking. I remember being those ages those girls were; I remember my daughters being those ages.” The Gates’ 2021 divorce announcement cited: “[W]e no longer believe we can grow together as a couple in this next phase of our lives.” But Melinda tied the Epstein mess directly to her pain: “So, for me, it’s personally hard whenever those details come up because it brings back memories of some very, very painful times in my marriage, but I have moved on from that.”

She pointed the finger squarely: “whatever questions” that remain on the Epstein debacle “are for those people, and even my ex-husband. They need to answer to those things, not me. And I am so happy to be away from all the muck.” Gates’ camp fired back through a spokesperson: “These claims are absolutely absurd and completely false.” They claimed: “The only thing these documents demonstrate is Epstein’s frustration that he did not have an ongoing relationship with Gates and the lengths he would go to entrap and defame.”

This push comes amid a broader reckoning, with the DOJ’s massive file dump shining a light on elite entanglements. Fresh scrutiny hits figures like Elon Musk and Howard Lutnick over their Epstein links, proving no one is immune. Gates’ own squirming defense on Australia’s 9News—claiming he was “only at dinners” and never met women—got shredded on The View, with hosts like Joy Behar mocking: “I know nothing. I did nothing.” Even that leftist stronghold is turning, signaling Gates’ PR fortress is crumbling.

The Clintons have also finally caved under pressure, agreeing to testify in the Epstein probe after dodging subpoenas for months. Facing contempt charges, Bill and Hillary bent the knee, with depositions set for late February— a win for transparency against deep state stonewalling. This cascade signals that the elite pedophile network’s protectors are finally cracking. As Mace leads the charge, it’s clear the Epstein saga is far from over. Globalists like Gates, long shielded by their billions and media allies, now face real oversight. The Clintons’ testimony could unleash more bombshells, exposing how power corridors enabled this horror.

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“… Gates sought help obtaining drugs “in order to deal with consequences of sex with Russian girls.”

• Vance Slams ‘Incestuous’ US Elites Over Epstein Files (RT)

US Vice President J.D. Vance has said new documents related to convicted sex offender Jeffrey Epstein expose what he described as an “incestuous” culture among America’s political and business elites. The documents, released by the US Justice Department last week, include previously unpublished records from Epstein’s estate and related investigations. The trove spans more than 3 million pages, 2,000 videos, and 180,000 images, renewing scrutiny of his connections to political, business, and tech figures and revealing how he maintained ties with prominent individuals even after his 2008 conviction.


Vance told the Daily Mail on Tuesday that the files expose a “pretty incestuous nature” among America’s elites, calling the revelations “pretty gross.” He singled out figures including Tesla and SpaceX CEO Elon Musk, former US President Bill Clinton, and billionaire Bill Gates, saying the disclosures reflected “very poorly on them.” The documents show Musk discussing plans in 2013 to visit Epstein’s private island, asking about “a good time to visit,” with Epstein offering to send his helicopter. The trip never happened, and Musk said he never traveled to the island.

A separate 2013 email shows Epstein sending himself a document claiming Gates sought help obtaining drugs “in order to deal with consequences of sex with Russian girls.” A spokesperson for Gates dismissed the claim as “absolutely absurd and completely false.” Bill Clinton and his wife, former Secretary of State Hillary Clinton, have agreed to testify before the House Oversight Committee in its investigation into Epstein. The ex-president has previously acknowledged flying on Epstein’s private jet in the early 2000s but denied wrongdoing. The couple had initially resisted subpoenas, calling them “invalid and legally unenforceable.”

Speaking about Trump, whose name appears in the files on at least 3,000 occasions and who has denied being friends with Epstein, Vance said the president “knows a lot of these people” due to his wealth and status but “is very much outside of the social circle” and was not closely involved. Trump himself has accused Epstein of plotting against him, writing on social media: “I never went to the infested Epstein island but, almost all of these Crooked Democrats, and their Donors, did.” Epstein died in a New York jail in 2019, in a death ruled a suicide, which has fueled conspiracy theories, including claims he was killed to prevent the disclosure of compromising material involving prominent figures.

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“Hospice is crazy here,” Dr. Oz said. “You’ve got hospice that’s grown seven-fold in the last five years. They represent about three and a half billion dollars of fraud, we believe, just in LA County.”

• Vance To Lead Sweeping Anti-Fraud Task Force Investigating California (ZH)

Vice President JD Vance is poised to chair a new White House task force aimed at rooting out potential fraud and abuse in government programs in California, according to CBS News. Andrew Ferguson, chairman of the Federal Trade Commission, is expected to serve as the task force’s vice chairman and handle day-to-day operations, CBS News reports. President Donald Trump is anticipated to issue an executive order in the coming days to formally establish the group, the news outlet said. The White House task force would operate separately from a related Justice Department effort led by Colin McDonald, a Trump nominee for a new fraud-investigation role at the department. McDonald is expected to also probe fraud in Minnesota uncovered by YouTuber Nick Shirley and other independent journalists.

California has long grappled with documented issues of waste, fraud, and weak oversight in state and federally funded programs. State auditors have for more than a decade flagged problems including persistent cost overruns, inadequate internal controls, and unimplemented reform recommendations across various initiatives, CBS News reported last month. California’s Employment Development Department faced acute criticism during the pandemic, when unemployment-insurance fraud resulted in an estimated $20 billion or more in improper payments, while many eligible claimants endured lengthy delays in receiving benefits, according to NPR News. Separately, federal officials have recently scrutinized fraud risks in hospice and home-health services, particularly in Los Angeles County.

Last week, Centers for Medicare & Medicaid Services Administrator Dr. Mehmet Oz visited the area to draw attention to the issue, citing the rapid proliferation of hospice providers and potential billions in improper billings. One physician in California reportedly billed the government $120 million in a single year while claiming oversight of 1,900 patients -an volume that has raised questions about feasibility and potential abuse. The county is home to nearly 2,000 licensed hospice agencies, a number exceeding the combined total in more than 36 states and roughly 30 times the count in states such as Florida or New York. “Hospice is crazy here,” Dr. Oz said. “You’ve got hospice that’s grown seven-fold in the last five years. They represent about three and a half billion dollars of fraud, we believe, just in LA County.”

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“… has made a policy decision to create a critical mineral reserve [..] The initiative is called “Project Vault.”

• Vance and Rubio Lead ‘Critical Minerals’ Strategic Ministerial Gathering (CTH)

In the past few years people have heard the term “rare earth minerals” or “critical minerals” as they relate to the manufacture of component goods that are vitally important in the lives of everyone. However, the term “rare” is somewhat of a misnomer. The minerals themselves are not rare; indeed, they have been around for hundreds of millions of years in abundant supply. It is the processing of those minerals into stable second stage commodities that has become rare.


As a result of western environmental rules and regulations, U.S, EU and developed nations have outsourced critical mineral processing (the dirty stuff) to China and Asia. We then import the finished commodity after processing. This becomes a problem when you realize the processor can weaponize western dependency, as we have recently seen with China controlling the export of processed minerals needed for manufacturing. President Trump has made a strategic decision to bring back the manufacturing of critical minerals to the United States and has made a policy decision to create a critical mineral reserve. Just last Monday President Trump announced a $12 billion strategic mineral reserve to combat China’s domination of critical mineral supply chains, a major step toward tackling China’s advantage in a crucial sector of the U.S. economy. The initiative is called “Project Vault.”

“For years, American businesses have risked running out of critical minerals during market disruptions,” President Trump said. “Just as we have long had a strategic petroleum reserve and a stockpile of critical minerals for national defense, we are now creating this reserve for American industry,” Trump said during the Oval Office announcement. Today in Washington DC, Vice-President JD Vance and Secretary of State Marco Rubio led a critical minerals discussion at the State Dept., where they are organizing an effort to get all nations to invest and create their own critical minerals strategic reserves. WATCH:

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Faster than us?!

• How Fast Is The Asian Population Ageing? (ZH)

The latest revision of UN World Population Prospects reveals that demographic shift is no longer a distant projection but an accelerating reality across parts of Asia, with the share of people aged 65 and over rising fast in several countries. As Statista’s Tristan Gaudiaut reports, this trend poses a significant challenge in the region for labor markets, public finances and care systems within a single generation. The figures (UN medium-scenario projections) show Japan already far ahead, as older adults made up already around 29 percent of the population in 2020, and are projected to surpass 30 percent in the coming years: 31.1 percent by 2030 and 35.4 percent by 2040. But, as our infographic shows, the more striking story is the pace of change elsewhere.

South Korea and China are among the standout accelerators. Both countries are expected to see their 65+ population shares more than double between 2020 and 2040. In South Korea, this figure is projected to surge from 15.8 percent (2020) to 33.8 percent (2040), while in China, it is expected to rise from 12.7 percent to 26.6 percent.

Those trajectories mirror intensifying national concerns about future labor supply and pension burdens, amid persistent low fertility and a shrinking workforce. Meanwhile, rapid ageing is not confined to the region’s richest economies. Thailand and Vietnam start from lower baselines, yet both trend sharply upward by 2040. Both South-East Asian countries are projected to see their 65+ population shares double in twenty-years: Thailand to 25.6 percent and Vietnam to 15.8 percent.

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https://twitter.com/MarioBojic/status/2019010007887478792 https://twitter.com/MarioNawfal/status/2019025650099855464

 

 

 

 

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