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"People Love It": Trump Talking To Dems About 'Direct Payment' Health Care Plans

Zero Hedge -

"People Love It": Trump Talking To Dems About 'Direct Payment' Health Care Plans

President Donald Trump on Sunday said that he's spoken with congressional Democrats about a plan to hand people cash that they can use to purchase their own health insurance. 

President Donald Trump speaks to members of the media aboard Air Force One as he departs for Florida from Joint Base Andrews, Md., on Oct. 31, 2025. Elizabeth Frantz/Reuters

"I’ve had personal talks with some Democrats," Trump told reporters in West Palm Beach, FL before returning to DC, adding that he talked to the dems "about paying large amounts of dollars back to the people."

Trump appears to be talking about a plan floated by Sen. Bill Cassidy (R-LA) - chairman of the Senate Health Education Labor and Pensions Committee, and Sen. Rick Scott (R-FL), who want to overhaul Obamacare by creating individual accounts that would direct money to people rather than insurance companies. Last week Trump told Fox News' Laura Ingraham that he supports the idea. 

"People love it," Trump said of the idea. "The insurance companies are making a fortune. Their stock is up over a thousand percent over a short period of time. They are taking in hundreds of billions of dollars, and they’re not really putting it back, certainly not like they should."

When asked about the idea, Trump told Ingraham that he wants "the money to go into an account for people where the people buy their own health insurance."

"The insurance will be better. It’ll cost less. Everybody’s going to be happy. They’re going to feel like entrepreneurs," he told the host, adding that the plan could be called "Trumpcare," while slamming Obamacare over skyrocketing premiums in recent years. 

Democrats made extending an enhanced ACA (Obamacare) credit central to their refusal to reopen the government earlier this month - refusing to go along with a short-term spending bill that didn't include that priority until they ultimately caved after Senate Majority Leader John Thune promised them a December vote on the matter. 

A group of eight Democrats then cut a deal with Republicans to reopen the government without winning a concession from the GOP to extend the subsidies.

Retiring Sen. Jeanne Shaheen (D-N.H.), one of the eight, has led negotiations between a group of 10-12 Republicans and Democrats, but many GOP senators say they are opposed to the premium subsidies. A Senate aide familiar with the negotiations told The Hill that roughly 20 Democratic offices have put out feelers on a potential deal to extend the subsidies. -The Hill

Will 'Trumpcare' render that moot?

Tyler Durden Mon, 11/17/2025 - 21:20

Ultraprocessed Foods Linked To Increased Risk Of Precancerous Colorectal Tumors: Study

Zero Hedge -

Ultraprocessed Foods Linked To Increased Risk Of Precancerous Colorectal Tumors: Study

Authored by Jacki Thrapp via The Epoch Times (emphasis ours),

A new study revealed that ultraprocessed foods (UPFs) may be linked to a rise in colon cancers among young people across the globe.

Potato chips are displayed in pharmacy Duane Reade by Walgreens in New York on March 25, 2021. AP Photo/Mark Lennihan, file

The first-of-its-kind study, which took place over 24 years, found that young people who consumed high levels of ultra-processed foods reported a surge in being diagnosed with adenomas and colon polyps, which often lead to colorectal cancer.

“Those with the highest quintile of UPF intake had a statistically significant 45 percent higher odds of early-onset colorectal conventional adenomas compared with the lowest quintile,” the study published Nov. 13 in the journal JAMA Oncology found.

The study followed 29,105 female registered nurses between June 1, 1991, through June 1, 2015. Male nurses were not part of the study.

Overall, 1,189 participants, born between 1947 and 1964, were diagnosed with early-onset conventional adenomas and 1,598 were diagnosed with serrated lesions.

Women who had a higher intake of ultraprocessed foods seemingly had an increased risk of early-onset conventional adenomas but not serrated lesions, the study claimed.

“Our findings support the importance of reducing the intake of ultra-processed foods as a strategy to mitigate the rising burden of early-onset colorectal cancer,” senior author and gastroenterologist Dr. Andrew Chan wrote.

Chan defined ultra-processed foods as “ready-to-eat foods that often contain high levels of sugar, salt, saturated fat and food additives.”

“The increased risk seems to be fairly linear, meaning that the more ultra-processed foods you eat, the more potential that it could lead to colon polyps.”

Not all polyps are cancerous. However, the number of people under 50 being diagnosed with colorectal cancer increased by 2 percent in 2025, according to a report by the American Medical Association in July.​

Colorectal cancer incidence rates increased by 500 percent in ages 10 to 14, went up 333 percent in teens aged 15 to 19, and went up 185 percent in young adults aged 20 to 24, the American Medical Association reported over the summer, citing CDC data from 1999 to 2020.

Colon cancer is usually a condition associated with people older than 50, but more and more young people across the world have been diagnosed with early-onset colon cancer, according to the Mayo Clinic.

“In about 20 percent of people with early-onset colon cancer, a genetic condition is the underlying cause. However, most people diagnosed with early-onset colon cancer have no such condition,” the Mayo Clinic reported.

Doctors have noticed that young people being diagnosed with early-onset colon cancer usually have fewer varieties of bacteria in their gut than “healthy people,” used antibiotics early in life, had a high intake of sugary drinks and processed foods while young and spent time at a desk or watching television for hours at a time while young.

​Colorectal cancer is the second-leading cause of cancer deaths in the United States.

Tyler Durden Mon, 11/17/2025 - 20:55

Ultraprocessed Foods Linked To Increased Risk Of Precancerous Colorectal Tumors: Study

Zero Hedge -

Ultraprocessed Foods Linked To Increased Risk Of Precancerous Colorectal Tumors: Study

Authored by Jacki Thrapp via The Epoch Times (emphasis ours),

A new study revealed that ultraprocessed foods (UPFs) may be linked to a rise in colon cancers among young people across the globe.

Potato chips are displayed in pharmacy Duane Reade by Walgreens in New York on March 25, 2021. AP Photo/Mark Lennihan, file

The first-of-its-kind study, which took place over 24 years, found that young people who consumed high levels of ultra-processed foods reported a surge in being diagnosed with adenomas and colon polyps, which often lead to colorectal cancer.

“Those with the highest quintile of UPF intake had a statistically significant 45 percent higher odds of early-onset colorectal conventional adenomas compared with the lowest quintile,” the study published Nov. 13 in the journal JAMA Oncology found.

The study followed 29,105 female registered nurses between June 1, 1991, through June 1, 2015. Male nurses were not part of the study.

Overall, 1,189 participants, born between 1947 and 1964, were diagnosed with early-onset conventional adenomas and 1,598 were diagnosed with serrated lesions.

Women who had a higher intake of ultraprocessed foods seemingly had an increased risk of early-onset conventional adenomas but not serrated lesions, the study claimed.

“Our findings support the importance of reducing the intake of ultra-processed foods as a strategy to mitigate the rising burden of early-onset colorectal cancer,” senior author and gastroenterologist Dr. Andrew Chan wrote.

Chan defined ultra-processed foods as “ready-to-eat foods that often contain high levels of sugar, salt, saturated fat and food additives.”

“The increased risk seems to be fairly linear, meaning that the more ultra-processed foods you eat, the more potential that it could lead to colon polyps.”

Not all polyps are cancerous. However, the number of people under 50 being diagnosed with colorectal cancer increased by 2 percent in 2025, according to a report by the American Medical Association in July.​

Colorectal cancer incidence rates increased by 500 percent in ages 10 to 14, went up 333 percent in teens aged 15 to 19, and went up 185 percent in young adults aged 20 to 24, the American Medical Association reported over the summer, citing CDC data from 1999 to 2020.

Colon cancer is usually a condition associated with people older than 50, but more and more young people across the world have been diagnosed with early-onset colon cancer, according to the Mayo Clinic.

“In about 20 percent of people with early-onset colon cancer, a genetic condition is the underlying cause. However, most people diagnosed with early-onset colon cancer have no such condition,” the Mayo Clinic reported.

Doctors have noticed that young people being diagnosed with early-onset colon cancer usually have fewer varieties of bacteria in their gut than “healthy people,” used antibiotics early in life, had a high intake of sugary drinks and processed foods while young and spent time at a desk or watching television for hours at a time while young.

​Colorectal cancer is the second-leading cause of cancer deaths in the United States.

Tyler Durden Mon, 11/17/2025 - 20:55

Trump Suggests Airstrikes On Cartels In Mexico, Colombia: 'Okay With Me'

Zero Hedge -

Trump Suggests Airstrikes On Cartels In Mexico, Colombia: 'Okay With Me'

President Donald Trump told reporters gathered in the Oval Office on Monday that potential military strikes in Mexico to disrupt the drug trade would be "okay with me".

He expressed rare openness to direct Pentagon action inside America's neighbor to the immediate south, at a moment of ongoing deadly drone strikes on alleged drug boats off the coast of Venezuela. This is sure to turn US-Mexico relations in a more negative direction, but Trump doesn't seem overly concerned with this as he ramps up the pressure, also on Colombia. 

CFR via AFP/Getty Images

He said he'd be willing to do this to prevent drugs from entering the United States, and further he'd be proud to "knock out" cocaine factories in Colombia.

On Colombia, where the president, his family and top officials have recently been hit with US sanctions, Trump said as follows:

"Colombia has cocaine factories where they make cocaine. Would I knock out those factories? I would be proud to do it personally. I didn’t say I’m doing it, but I would be proud to do it because we’re going to save millions of lives by doing it."

This renewed war on drugs rhetoric has been met with immense controversy, including among some US Congress members who demand a Congressional vote before war is declared on Venezuela or any other sovereign Latin American country.

But the administration has also been utilizing 'terrorism' labels to justify strikes, which up to now has included targeting over twenty alleged drug boats and killing some 80 people.

Trump really focused the bulk of the Monday comments with putting Mexico on notice:

The State Department designated six Mexican drug cartels, along with Venezuelan gang Tren de Aragua and MS-13, as foreign terrorist organizations in February. 

The president indicated on Monday that he would go to Congress to ask for permission for the strikes and predicted the potential actions would be supported by lawmakers on both sides of the aisle. 

"So let me just put it this way," he said. "I am not happy with Mexico."

Watch the full exchange below:

Last month, as attacks on drug boats in the southern Caribbean escalated, Trump expressed something similar on the question of bypassing Congress. "I’m not going to necessarily ask for a declaration of war," he said at the time. "I think we’re just doing to kill people that are bringing drugs into our country. Okay? We’re going to kill them, you know, they’re going to be like, dead."

Without doubt, leaders in Mexico City and Bogota are increasingly nervous over such rhetoric - but there's little in reality they could do if their sovereignty were violated by US military action. Clearly Trump thinks these corrupt countries have not done enough to dismantle the cartels, which has in turn fueled the drug crisis in America.

Tyler Durden Mon, 11/17/2025 - 20:30

FT Confirms Our Report From 2024 That China Is Buying 10x More Gold Than Officially Disclosed

Zero Hedge -

FT Confirms Our Report From 2024 That China Is Buying 10x More Gold Than Officially Disclosed

One year ago, Goldman's precious metal analyst Lina Thomas made the case that gold would rise to $3000 by the end of 2025 (it ended up rising more than $1000 higher) as a result of relentless central bank purchases in general, and thanks to China's ravenous appetite for gold in particular. The bank promptly got pushback on this thesis, with skeptics countering that it is unlikely that gold will manage to keep its ascent at the same time as the dollar rises to new record highs, one of the largest consensus Trump trades.

In response, Thomas also - correctly - pushed back, writing that she disagrees with the argument that "gold cannot rally to $3,000/toz by end-2025 in a world where the dollar stays stronger for longer", for four reasons:

  • First, it will be US policy rate that drives investor gold demand, with no significant additional role for the dollar. 
  • Second, Thomas disagreed with the view that dollar strength will halt structurally higher central bank purchases because central banks tend to buy gold internationally from their dollar reserves. In fact, the large central bank buyers tend to raise their gold demand amid local currency weakness to boost confidence in their currency.
  • Third, the tendency for the dollar and gold prices to rise with uncertainty supports their roles as portfolio hedges, including against tariff escalation.
  • Finally, the yuan depreciation and broader easing that Goldman economists expect should have a roughly neutral net effect on China's retail gold demand, as the gold demand boost from lower China rates roughly offsets the hit from higher local gold prices.

And while it took less than a year for gold prices to surge far above the bank's (in retrospect) conservative forecast, there was one aspect of the prediction that was already playing out: as we showed at the time using an analysis of central bank and other institutional gold buying on the London OTC market, China was secretly buying up 10x more gold than it admits.

A few months later we repeated this observation: China continued to secretly buy 10x more gold (27 tonnes) than it reports (3 tonnes).

While that alone was sufficient to validate the bullish thesis, another key factor that also emerged was the aggressive ramp up of gold ETF purchases by retail investors, something we predicted over a year ago...

... and which Morgan Stanley confirmed over the weekend had been a "big support for gold this year."

But while ETF purchases come and go as price momentum ebbs and flows, in retrospect the biggest shocker was our revelation that - in keeping with tradition  - China was secretly buying up most of the available gold in the open market (presumably in anticipation of some major event which has yet to be unveiled). Needless to say, there was tremendous pushback to this claim, with the "serious" strategists balking at the possibility that China would be allocating its precious reserves to a barbarous relic.

Not any more: fast-forwarding to one year later when over the weekend, the FT reported that "China’s actual gold purchases could be more than 10 times its official figures as it quietly tries to diversify away from the US dollar, highlighting the increasingly opaque sources of demand behind bullion’s record-breaking rally." Or precisely what we said last December.

The FT notes that publicly reported buying by China’s central bank has been so low this year - 1.9 tonnes purchased in August, 1.9 tonnes in July and 2.2 tonnes in June - that few in the market believe the official figures. Instead, echoing the same trade data analysis we did back in 2024 (and ever since), the newspaper points to work done by analysts at Société Générale who estimate that China’s total purchases could reach as much as 250 tonnes this year, or more than a third of total global central bank demand.

The scale of the country’s unreported purchases highlights the growing challenges facing traders trying to work out where prices go next in a market increasingly dominated by central bank purchases.

“China is buying gold as part of their de-dollarisation strategy,” said Jeff Currie, chief strategy officer of energy pathways at Carlyle, who says he does not try to guess how much gold the People’s Bank of China is buying. 

“Unlike oil, where you can track it with satellites, with gold you can’t. There’s just no way to know where this stuff goes and who is buying it.”

And since official Chinese data is unreliable at best, or simply fake, traders had turned to alternative sources of data to gauge demand, such as orders for freshly cast 400oz bars with consecutive serial numbers, which are typically refined in Switzerland or South Africa, shipped via London and flown to China, for evidence of the country’s purchases. The same analysis we have been doing since 2022.

“This year, people are really not believing the official figures, especially about China,” said Bruce Ikemizu, director of the Japan Bullion Market Association, who believes China’s current gold reserves are nearly 5,000 tonnes, double the level it publicly reports.

Of course, China is not alone: ever since the US weaponized the dollar in response to the Ukraine war, Central banks have been buying up huge quantities of bullion fuelling a rally that has pushed the price above $4,300 per troy ounce.

This accumulating has been so relentless, that gold’s share of global reserves outside the US has climbed from 10% to 26% over the past decade, World Gold Council data shows, making it the second-largest reserve asset after the dollar. Yet fewer and fewer of these purchases are being reported to the IMF, which collects data voluntarily.

In the most recent quarter, only about one-third of official buying was publicly reported, down from about 90% four years ago, according to WGC estimates based on Metals Focus data.

Central banks may choose not to report their gold activity to avoid front-running the market or for political reasons. Some fear that publicly buying bullion, which is often a hedge against the dollar, could worsen relations with the Trump administration.

“It makes sense to just report the bare minimum, if need be, for fear of reprisal from the US administration,” said Nicky Shiels, analyst at Swiss refinery MKS Pamp. “Gold is seen as a pure USA hedge. In most emerging markets it is in central banks’ interest to not fully disclose purchases.”

At the same time, sellers are also keen not to move prices against themselves by announcing their intentions. Former UK chancellor Gordon Brown’s well-publicized statements in 1999 that the Bank of England would sell half its gold reserves helped push prices even lower, and the sale yielded just $275 per ounce on average, about one-fifteenth of today’s price.

Michael Haigh, an analyst at Société Générale, said this opacity made the gold market “unique and tricky” compared with commodities such as oil, where Opec plays a role in regulating production.

“What is different with gold is that the tonnage going in and out of central banks is so impactful. Without having clarity on that, it is a bit more of an issue.”

And while China is the world’s biggest producer and consumer of gold, it is also the least transparent, leaving analysts to run their own numbers based on import data, guesswork and tips.

Its official gold-buying program, which is managed by the State Administration of Foreign Exchange, part of the People’s Bank of China, has officially bought just 25 tonnes this year. Reserve gold is typically stored either in Shanghai or in Beijing. And yet, applying the same proxy we used one year ago, namely looking at UK gold exports to China (as the PBOC favors large bars which are mainly traded in London), SocGen estimates that Safe will import about 250 tonnes this year, or 10x more. This number sure sounds familiar... 

Another method is to calculate the gap between China’s net imports and domestic gold production, and the change in the amount held by commercial banks or purchased by retail consumers. Using this method, Plenum Research, a Beijing consultancy, calculates a “gap” attributable to official buying of 1,351 tonnes in 2023 and 1,382 tonnes in 2022, more than six times the public purchases China made in those years.

But while the actual numbers are unclear, one thing is certain: China will buy much more gold than it officially reports. Safe has one-year and five-year targets for its purchases of gold, and current official holdings remain far below target, according to a former Safe official. The purchases are made not only by Safe and its intermediaries, but also by China’s sovereign wealth fund CIC and the military, which are not mandated to disclose their holdings on a timely basis.

Complicating the picture is China’s status as the world’s largest gold miner, accounting for 10% of global production last year, which means that it also has the option of buying bullion domestically for its reserves. But in a geopolitical statement of force, as China expands its gold holdings, it is also courting developing nations to store it in the country. As BBG recently reported, Cambodia recently agreed to place newly purchased gold, paid for in renminbi, in the Shanghai Gold Exchange’s vault in Shenzhen.

In light of all these variables, many gold analysts will not even hazard a guess as to the true scale of purchases by the PBoC. 

“It’s ultimately unknowable,” said Adrian Ash, research director of BullionVault, an online trading platform. “Any apparent route to figuring it out . . . misses the problem that it is only one part of the enigma wrapped in the riddle which is China’s bullion market.”

One thing is clear: it will keep rising. 

In a note published earlier today Lina Thomas (and available to pro subs), the Goldman gold analyst who correctly calculated China's true purchases over a year ago, she writes that the bank's latest gold nowcast estimates that central bank purchased 64 tonnes for September vs. 21 tonnes in August, and central bank buying likely continued in November: "We continue to see elevated central bank gold accumulation as a multi-year trend, as central banks diversify their reserves to hedge geopolitical and financial risks. We maintain our assumption of average monthly central bank buying of 80 tonnes in 2025Q4-2026", Thomas wrote.

Some more details from her note (available to pro subs):

The gold price broke higher last week, jumping about $25 in a vertical move during last Monday’s Asia hours and rising nearly 6% before correcting on Friday to just under $4,100. The timing, size and speed of last Monday’s price increase are consistent with Asian [ZH: read Chinese] central bank buying, which often appears in London prices around Asian trading hours and thus sees an initial decrease in the Shanghai-London price premium but is then often followed by delayed momentum buying in retail China and then the West.

We continue to see elevated central bank gold accumulation as a multi-year trend as central banks diversify their reserves to hedge geopolitical and financial risks.

Our GS nowcast of central bank and institutional gold demand on the London OTC estimates September purchases at 64 tonnes (67 tonnes on a 12-month moving-average basis), up from 21 tonnes in August and consistent with the typical post-summer seasonal acceleration (Exhibit 1).

Goldman estimates that September purchases were led by the Middle East - Qatar at 20 tonnes and Oman at 7 tonnes - and China at 15 tonnes, extending the trend of massively underreporting its actual purchases (the official number was roughly 10% of that estimate).

Goldman concludes that the pickup in central bank buying, together with the largest monthly gold Western ETF inflow (112 tonnes) since mid-2022, marks the first time in this cycle that strong post-2022 central bank demand and such a sizable increase in ETF holdings have occurred simultaneously, something we predicted back in 2024. Thomas believes that this combination, alongside likely additional off-ETF physical buying by ultra-high net worth individuals, as well as the ongoing buying spree by Tether which is increasingly diversifying into gold alongside T-bills, likely contributed to September’s 10% rally, the strongest monthly increase in gold prices since 2016.

Going forward, Goldman expects continued central bank buying, alongside private investor flows under Fed easing, to lift gold prices to $4,900 by end-2026, and predicted even more "significant upside" if the private investor diversification theme gains more traction.

More in the full Goldman note available to pro subs.

Tyler Durden Mon, 11/17/2025 - 20:05

FT Confirms Our Report From 2024 That China Is Buying 10x More Gold Than Officially Disclosed

Zero Hedge -

FT Confirms Our Report From 2024 That China Is Buying 10x More Gold Than Officially Disclosed

One year ago, Goldman's precious metal analyst Lina Thomas made the case that gold would rise to $3000 by the end of 2025 (it ended up rising more than $1000 higher) as a result of relentless central bank purchases in general, and thanks to China's ravenous appetite for gold in particular. The bank promptly got pushback on this thesis, with skeptics countering that it is unlikely that gold will manage to keep its ascent at the same time as the dollar rises to new record highs, one of the largest consensus Trump trades.

In response, Thomas also - correctly - pushed back, writing that she disagrees with the argument that "gold cannot rally to $3,000/toz by end-2025 in a world where the dollar stays stronger for longer", for four reasons:

  • First, it will be US policy rate that drives investor gold demand, with no significant additional role for the dollar. 
  • Second, Thomas disagreed with the view that dollar strength will halt structurally higher central bank purchases because central banks tend to buy gold internationally from their dollar reserves. In fact, the large central bank buyers tend to raise their gold demand amid local currency weakness to boost confidence in their currency.
  • Third, the tendency for the dollar and gold prices to rise with uncertainty supports their roles as portfolio hedges, including against tariff escalation.
  • Finally, the yuan depreciation and broader easing that Goldman economists expect should have a roughly neutral net effect on China's retail gold demand, as the gold demand boost from lower China rates roughly offsets the hit from higher local gold prices.

And while it took less than a year for gold prices to surge far above the bank's (in retrospect) conservative forecast, there was one aspect of the prediction that was already playing out: as we showed at the time using an analysis of central bank and other institutional gold buying on the London OTC market, China was secretly buying up 10x more gold than it admits.

A few months later we repeated this observation: China continued to secretly buy 10x more gold (27 tonnes) than it reports (3 tonnes).

While that alone was sufficient to validate the bullish thesis, another key factor that also emerged was the aggressive ramp up of gold ETF purchases by retail investors, something we predicted over a year ago...

... and which Morgan Stanley confirmed over the weekend had been a "big support for gold this year."

But while ETF purchases come and go as price momentum ebbs and flows, in retrospect the biggest shocker was our revelation that - in keeping with tradition  - China was secretly buying up most of the available gold in the open market (presumably in anticipation of some major event which has yet to be unveiled). Needless to say, there was tremendous pushback to this claim, with the "serious" strategists balking at the possibility that China would be allocating its precious reserves to a barbarous relic.

Not any more: fast-forwarding to one year later when over the weekend, the FT reported that "China’s actual gold purchases could be more than 10 times its official figures as it quietly tries to diversify away from the US dollar, highlighting the increasingly opaque sources of demand behind bullion’s record-breaking rally." Or precisely what we said last December.

The FT notes that publicly reported buying by China’s central bank has been so low this year - 1.9 tonnes purchased in August, 1.9 tonnes in July and 2.2 tonnes in June - that few in the market believe the official figures. Instead, echoing the same trade data analysis we did back in 2024 (and ever since), the newspaper points to work done by analysts at Société Générale who estimate that China’s total purchases could reach as much as 250 tonnes this year, or more than a third of total global central bank demand.

The scale of the country’s unreported purchases highlights the growing challenges facing traders trying to work out where prices go next in a market increasingly dominated by central bank purchases.

“China is buying gold as part of their de-dollarisation strategy,” said Jeff Currie, chief strategy officer of energy pathways at Carlyle, who says he does not try to guess how much gold the People’s Bank of China is buying. 

“Unlike oil, where you can track it with satellites, with gold you can’t. There’s just no way to know where this stuff goes and who is buying it.”

And since official Chinese data is unreliable at best, or simply fake, traders had turned to alternative sources of data to gauge demand, such as orders for freshly cast 400oz bars with consecutive serial numbers, which are typically refined in Switzerland or South Africa, shipped via London and flown to China, for evidence of the country’s purchases. The same analysis we have been doing since 2022.

“This year, people are really not believing the official figures, especially about China,” said Bruce Ikemizu, director of the Japan Bullion Market Association, who believes China’s current gold reserves are nearly 5,000 tonnes, double the level it publicly reports.

Of course, China is not alone: ever since the US weaponized the dollar in response to the Ukraine war, Central banks have been buying up huge quantities of bullion fuelling a rally that has pushed the price above $4,300 per troy ounce.

This accumulating has been so relentless, that gold’s share of global reserves outside the US has climbed from 10% to 26% over the past decade, World Gold Council data shows, making it the second-largest reserve asset after the dollar. Yet fewer and fewer of these purchases are being reported to the IMF, which collects data voluntarily.

In the most recent quarter, only about one-third of official buying was publicly reported, down from about 90% four years ago, according to WGC estimates based on Metals Focus data.

Central banks may choose not to report their gold activity to avoid front-running the market or for political reasons. Some fear that publicly buying bullion, which is often a hedge against the dollar, could worsen relations with the Trump administration.

“It makes sense to just report the bare minimum, if need be, for fear of reprisal from the US administration,” said Nicky Shiels, analyst at Swiss refinery MKS Pamp. “Gold is seen as a pure USA hedge. In most emerging markets it is in central banks’ interest to not fully disclose purchases.”

At the same time, sellers are also keen not to move prices against themselves by announcing their intentions. Former UK chancellor Gordon Brown’s well-publicized statements in 1999 that the Bank of England would sell half its gold reserves helped push prices even lower, and the sale yielded just $275 per ounce on average, about one-fifteenth of today’s price.

Michael Haigh, an analyst at Société Générale, said this opacity made the gold market “unique and tricky” compared with commodities such as oil, where Opec plays a role in regulating production.

“What is different with gold is that the tonnage going in and out of central banks is so impactful. Without having clarity on that, it is a bit more of an issue.”

And while China is the world’s biggest producer and consumer of gold, it is also the least transparent, leaving analysts to run their own numbers based on import data, guesswork and tips.

Its official gold-buying program, which is managed by the State Administration of Foreign Exchange, part of the People’s Bank of China, has officially bought just 25 tonnes this year. Reserve gold is typically stored either in Shanghai or in Beijing. And yet, applying the same proxy we used one year ago, namely looking at UK gold exports to China (as the PBOC favors large bars which are mainly traded in London), SocGen estimates that Safe will import about 250 tonnes this year, or 10x more. This number sure sounds familiar... 

Another method is to calculate the gap between China’s net imports and domestic gold production, and the change in the amount held by commercial banks or purchased by retail consumers. Using this method, Plenum Research, a Beijing consultancy, calculates a “gap” attributable to official buying of 1,351 tonnes in 2023 and 1,382 tonnes in 2022, more than six times the public purchases China made in those years.

But while the actual numbers are unclear, one thing is certain: China will buy much more gold than it officially reports. Safe has one-year and five-year targets for its purchases of gold, and current official holdings remain far below target, according to a former Safe official. The purchases are made not only by Safe and its intermediaries, but also by China’s sovereign wealth fund CIC and the military, which are not mandated to disclose their holdings on a timely basis.

Complicating the picture is China’s status as the world’s largest gold miner, accounting for 10% of global production last year, which means that it also has the option of buying bullion domestically for its reserves. But in a geopolitical statement of force, as China expands its gold holdings, it is also courting developing nations to store it in the country. As BBG recently reported, Cambodia recently agreed to place newly purchased gold, paid for in renminbi, in the Shanghai Gold Exchange’s vault in Shenzhen.

In light of all these variables, many gold analysts will not even hazard a guess as to the true scale of purchases by the PBoC. 

“It’s ultimately unknowable,” said Adrian Ash, research director of BullionVault, an online trading platform. “Any apparent route to figuring it out . . . misses the problem that it is only one part of the enigma wrapped in the riddle which is China’s bullion market.”

One thing is clear: it will keep rising. 

In a note published earlier today Lina Thomas (and available to pro subs), the Goldman gold analyst who correctly calculated China's true purchases over a year ago, she writes that the bank's latest gold nowcast estimates that central bank purchased 64 tonnes for September vs. 21 tonnes in August, and central bank buying likely continued in November: "We continue to see elevated central bank gold accumulation as a multi-year trend, as central banks diversify their reserves to hedge geopolitical and financial risks. We maintain our assumption of average monthly central bank buying of 80 tonnes in 2025Q4-2026", Thomas wrote.

Some more details from her note (available to pro subs):

The gold price broke higher last week, jumping about $25 in a vertical move during last Monday’s Asia hours and rising nearly 6% before correcting on Friday to just under $4,100. The timing, size and speed of last Monday’s price increase are consistent with Asian [ZH: read Chinese] central bank buying, which often appears in London prices around Asian trading hours and thus sees an initial decrease in the Shanghai-London price premium but is then often followed by delayed momentum buying in retail China and then the West.

We continue to see elevated central bank gold accumulation as a multi-year trend as central banks diversify their reserves to hedge geopolitical and financial risks.

Our GS nowcast of central bank and institutional gold demand on the London OTC estimates September purchases at 64 tonnes (67 tonnes on a 12-month moving-average basis), up from 21 tonnes in August and consistent with the typical post-summer seasonal acceleration (Exhibit 1).

Goldman estimates that September purchases were led by the Middle East - Qatar at 20 tonnes and Oman at 7 tonnes - and China at 15 tonnes, extending the trend of massively underreporting its actual purchases (the official number was roughly 10% of that estimate).

Goldman concludes that the pickup in central bank buying, together with the largest monthly gold Western ETF inflow (112 tonnes) since mid-2022, marks the first time in this cycle that strong post-2022 central bank demand and such a sizable increase in ETF holdings have occurred simultaneously, something we predicted back in 2024. Thomas believes that this combination, alongside likely additional off-ETF physical buying by ultra-high net worth individuals, as well as the ongoing buying spree by Tether which is increasingly diversifying into gold alongside T-bills, likely contributed to September’s 10% rally, the strongest monthly increase in gold prices since 2016.

Going forward, Goldman expects continued central bank buying, alongside private investor flows under Fed easing, to lift gold prices to $4,900 by end-2026, and predicted even more "significant upside" if the private investor diversification theme gains more traction.

More in the full Goldman note available to pro subs.

Tyler Durden Mon, 11/17/2025 - 20:05

Trump Hints US Might Still Be Talking With Maduro, Despite Huge Force Build-Up

Zero Hedge -

Trump Hints US Might Still Be Talking With Maduro, Despite Huge Force Build-Up

Authored by Dave DeCamp via AntiWar.com,

President Trump said on Sunday that the US "may be having discussions" with Venezuelan President Nicolas Maduro, suggesting his administration has not entirely cut off diplomacy with Caracas as previous reports have said.

Trump made the comments when asked about Secretary of State Marco Rubio’s announcement that the State Department would be designating the so-called Cartel de los Soles, or Cartel of the Suns, as a “Foreign Terrorist Organization,” though the group doesn’t actually exist.

The term “Cartel of the Suns” was first used in the 1990s, before Maduro’s predecessor, Hugo Chavez, came to power, to describe two Venezuelan military generals with sun insignias on their uniforms who were involved in the drug trade. One of the generals was working with the CIA at the time, according to a 1993 60 Minutes report.

Today, the term is used to describe Venezuelan military and government officials who allegedly profit from drug trafficking, but the Cartel of the Suns doesn’t exist as a structured organization.

Regardless of the reality, the US claims that Maduro is the leader of the Cartel of the Suns, signaling it will use the terror designation as a pretext to target him. Trump was asked if the designation could justify the US targeting Maduro’s assets or infrastructure inside Venezuela, and claimed that it “allows us to do that,” though any military action without congressional authorization would be illegal under the Constitution. Trump then suggested that the US and Venezuela are talking.

“It allows us to do that, but I haven’t said we’re going to do that, and we may be having some discussions with Maduro, and we’ll see how that turns out, but they would like to talk,” he told reporters.

Maduro has made clear that he’s willing to reach some kind of deal with the US and sent a letter to Trump after the US began bombing alleged drug-running boats in the region. In the letter, the Venezuelan leader urged for diplomacy to resolve any issues and said he was ready to talk to Trump’s special envoy, Ric Grennel, at any time.

The New York Times reported in early October that Trump called off diplomacy with Venezuela, though another Times report on Friday cited an administration official who said the talks with Venezuela were “not entirely dead.” Officials say the arrival of the US aircraft carrier Gerald Ford is meant to be used as leverage over Maduro, but it’s unclear what sort of deal would satisfy the US.

Venezuela’s President Nicolas Maduro and US President Donald Trump’s envoy Richard Grenell shake hands at the Miraflores Palace, in Caracas, Venezuela, January 31, 2025. Miraflores Palace/Handout via Reuters

Trump has reportedly been briefed in recent days on options to bomb Venezuela, and the US strikes on boats in the region have continued, killing at least 82 people since the bombing campaign began in early September.

Tyler Durden Mon, 11/17/2025 - 19:40

Trump Hints US Might Still Be Talking With Maduro, Despite Huge Force Build-Up

Zero Hedge -

Trump Hints US Might Still Be Talking With Maduro, Despite Huge Force Build-Up

Authored by Dave DeCamp via AntiWar.com,

President Trump said on Sunday that the US "may be having discussions" with Venezuelan President Nicolas Maduro, suggesting his administration has not entirely cut off diplomacy with Caracas as previous reports have said.

Trump made the comments when asked about Secretary of State Marco Rubio’s announcement that the State Department would be designating the so-called Cartel de los Soles, or Cartel of the Suns, as a “Foreign Terrorist Organization,” though the group doesn’t actually exist.

The term “Cartel of the Suns” was first used in the 1990s, before Maduro’s predecessor, Hugo Chavez, came to power, to describe two Venezuelan military generals with sun insignias on their uniforms who were involved in the drug trade. One of the generals was working with the CIA at the time, according to a 1993 60 Minutes report.

Today, the term is used to describe Venezuelan military and government officials who allegedly profit from drug trafficking, but the Cartel of the Suns doesn’t exist as a structured organization.

Regardless of the reality, the US claims that Maduro is the leader of the Cartel of the Suns, signaling it will use the terror designation as a pretext to target him. Trump was asked if the designation could justify the US targeting Maduro’s assets or infrastructure inside Venezuela, and claimed that it “allows us to do that,” though any military action without congressional authorization would be illegal under the Constitution. Trump then suggested that the US and Venezuela are talking.

“It allows us to do that, but I haven’t said we’re going to do that, and we may be having some discussions with Maduro, and we’ll see how that turns out, but they would like to talk,” he told reporters.

Maduro has made clear that he’s willing to reach some kind of deal with the US and sent a letter to Trump after the US began bombing alleged drug-running boats in the region. In the letter, the Venezuelan leader urged for diplomacy to resolve any issues and said he was ready to talk to Trump’s special envoy, Ric Grennel, at any time.

The New York Times reported in early October that Trump called off diplomacy with Venezuela, though another Times report on Friday cited an administration official who said the talks with Venezuela were “not entirely dead.” Officials say the arrival of the US aircraft carrier Gerald Ford is meant to be used as leverage over Maduro, but it’s unclear what sort of deal would satisfy the US.

Venezuela’s President Nicolas Maduro and US President Donald Trump’s envoy Richard Grenell shake hands at the Miraflores Palace, in Caracas, Venezuela, January 31, 2025. Miraflores Palace/Handout via Reuters

Trump has reportedly been briefed in recent days on options to bomb Venezuela, and the US strikes on boats in the region have continued, killing at least 82 people since the bombing campaign began in early September.

Tyler Durden Mon, 11/17/2025 - 19:40

Tuesday: Industrial Production, Homebuilder Survey

Calculated Risk -

Mortgage Rates Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.

Tuesday (RED will not be released due to government shutdown):
• At 8:30 AM ET,Housing Starts for October.

• At 9:15 AM, The Fed will release Industrial Production and Capacity Utilization for October. The consensus is for no change in Industrial Production, and for Capacity Utilization to decrease to 77.3%.

• At 10:00 AM, The November NAHB homebuilder survey. The consensus is for a reading of 36, down from 37. Any number below 50 indicates that more builders view sales conditions as poor than good.

Appeals Court Halts DOT Restrictions On Commercial Driver's Licenses For Illegals

Zero Hedge -

Appeals Court Halts DOT Restrictions On Commercial Driver's Licenses For Illegals

Authored by Aldgra Fredly via The Epoch Times,

A federal appeals court in the District of Columbia has temporarily blocked the Department of Transportation (DOT) from enforcing a new rule that narrows the conditions under which states may issue commercial driver’s licenses to noncitizens.

The ruling followed an Oct. 20 petition from two truck drivers and the American Federation of State, County, and Municipal Employees (AFSCME) seeking judicial review of the interim final rule by the DOT’s Federal Motor Carrier Safety Administration (FMCSA) in September.

The rule limits eligibility for nondomiciled commercial driver’s licenses (CDL) to holders of H-2A (temporary agricultural workers), H-2B (temporary non-agricultural workers), and E-2 (treaty investors) visas, with no other immigration categories eligible, according to a document published on the Federal Register on Sept. 29.

In its Nov. 13 ruling, the appeals court said the federal government didn’t follow proper procedure in drafting the rule and failed to “articulate a satisfactory explanation for how the rule would promote safety.”

The court said the FMCSA’s data show that nondomiciled CDL holders make up roughly 5 percent of all CDL holders but are involved in only about 0.2 percent of fatal crashes in the United States.

“FMCSA does not appear to have demonstrated any safety benefit from the rule, the county petitioner has furnished evidence that the rule would harm public safety by forcing it to replace safer experienced drivers with less-safe new drivers,” it stated.

The ruling also found that the petitioners will likely succeed in their claims that the FMCSA issued the rule without prior consultation with the states.

The agency has argued that it did not consult states because the total cost of compliance with the rule was not expected to be substantial and that such consultation was “not practicable,” according to court documents. The court rejected that argument.

Circuit Judge Karen L. Henderson dissented, noting that FMCSA had presented five recent fatal crashes involving foreign-domiciled CDL drivers—which killed 12 individuals—suggesting that an audit of their foreign driving records might have barred them from obtaining CDLs in the United States.

“These examples merely bolstered the FMCSA’s already reasonable determination that allowing CDL-holders with unverified driving histories on our roadways is unsafe,” Henderson stated.

In a statement to multiple news outlets, a DOT spokesperson said Transportation Secretary Sean Duffy will continue efforts to keep “unqualified, foreign drivers off American roads.”

“This is not a ruling on the merits of the case,” the spokesperson noted.

AFSCME president Lee Saunders applauded the court’s decision on Nov. 14.

“Many public service workers who provide essential services like keeping our streets clean and driving our children to school require commercial drivers’ licenses,” Saunders said in a statement.

The FMCSA posted the court’s decision on its website, noting that the interim final rule is on hold until further notice, while states facing corrective action must continue to adhere to the guidance.

The Owner-Operator Independent Drivers Association (OOIDA) had supported the new rule.

“For too long, loopholes in this program have allowed unqualified drivers onto our highways, putting professional truckers and the motoring public at risk,” OOIDA President Todd Spencer said in a statement.

The DOT took emergency action in September following a fatal crash in Florida on Aug. 12 that involved a semitruck driver who illegally entered the United States in 2018 through the southern border. The driver, identified as Harjinder Singh, obtained a commercial driver’s license in California.

The federal government has already withheld more than $40 million in funding from California after an investigation found that the state had not met federal English-language proficiency standards for truck drivers.

On Nov. 12, the DOT stated that California has revoked about 17,000 illegally issued trucking licenses, which were issued to nondomiciled CDL drivers.

California Gov. Gavin Newsom’s office did not respond to a request for comment by publication time.

Tyler Durden Mon, 11/17/2025 - 19:15

Appeals Court Halts DOT Restrictions On Commercial Driver's Licenses For Illegals

Zero Hedge -

Appeals Court Halts DOT Restrictions On Commercial Driver's Licenses For Illegals

Authored by Aldgra Fredly via The Epoch Times,

A federal appeals court in the District of Columbia has temporarily blocked the Department of Transportation (DOT) from enforcing a new rule that narrows the conditions under which states may issue commercial driver’s licenses to noncitizens.

The ruling followed an Oct. 20 petition from two truck drivers and the American Federation of State, County, and Municipal Employees (AFSCME) seeking judicial review of the interim final rule by the DOT’s Federal Motor Carrier Safety Administration (FMCSA) in September.

The rule limits eligibility for nondomiciled commercial driver’s licenses (CDL) to holders of H-2A (temporary agricultural workers), H-2B (temporary non-agricultural workers), and E-2 (treaty investors) visas, with no other immigration categories eligible, according to a document published on the Federal Register on Sept. 29.

In its Nov. 13 ruling, the appeals court said the federal government didn’t follow proper procedure in drafting the rule and failed to “articulate a satisfactory explanation for how the rule would promote safety.”

The court said the FMCSA’s data show that nondomiciled CDL holders make up roughly 5 percent of all CDL holders but are involved in only about 0.2 percent of fatal crashes in the United States.

“FMCSA does not appear to have demonstrated any safety benefit from the rule, the county petitioner has furnished evidence that the rule would harm public safety by forcing it to replace safer experienced drivers with less-safe new drivers,” it stated.

The ruling also found that the petitioners will likely succeed in their claims that the FMCSA issued the rule without prior consultation with the states.

The agency has argued that it did not consult states because the total cost of compliance with the rule was not expected to be substantial and that such consultation was “not practicable,” according to court documents. The court rejected that argument.

Circuit Judge Karen L. Henderson dissented, noting that FMCSA had presented five recent fatal crashes involving foreign-domiciled CDL drivers—which killed 12 individuals—suggesting that an audit of their foreign driving records might have barred them from obtaining CDLs in the United States.

“These examples merely bolstered the FMCSA’s already reasonable determination that allowing CDL-holders with unverified driving histories on our roadways is unsafe,” Henderson stated.

In a statement to multiple news outlets, a DOT spokesperson said Transportation Secretary Sean Duffy will continue efforts to keep “unqualified, foreign drivers off American roads.”

“This is not a ruling on the merits of the case,” the spokesperson noted.

AFSCME president Lee Saunders applauded the court’s decision on Nov. 14.

“Many public service workers who provide essential services like keeping our streets clean and driving our children to school require commercial drivers’ licenses,” Saunders said in a statement.

The FMCSA posted the court’s decision on its website, noting that the interim final rule is on hold until further notice, while states facing corrective action must continue to adhere to the guidance.

The Owner-Operator Independent Drivers Association (OOIDA) had supported the new rule.

“For too long, loopholes in this program have allowed unqualified drivers onto our highways, putting professional truckers and the motoring public at risk,” OOIDA President Todd Spencer said in a statement.

The DOT took emergency action in September following a fatal crash in Florida on Aug. 12 that involved a semitruck driver who illegally entered the United States in 2018 through the southern border. The driver, identified as Harjinder Singh, obtained a commercial driver’s license in California.

The federal government has already withheld more than $40 million in funding from California after an investigation found that the state had not met federal English-language proficiency standards for truck drivers.

On Nov. 12, the DOT stated that California has revoked about 17,000 illegally issued trucking licenses, which were issued to nondomiciled CDL drivers.

California Gov. Gavin Newsom’s office did not respond to a request for comment by publication time.

Tyler Durden Mon, 11/17/2025 - 19:15

Threats Of Sanctions, Economic Warfare, As Japan-China Relations Sink To Decades Low

Zero Hedge -

Threats Of Sanctions, Economic Warfare, As Japan-China Relations Sink To Decades Low

China and Japan are experiencing their most intense diplomatic tensions in years after Beijing issued economic warnings in response to recent comments by Japanese Prime Minister Sanae Takaichi about a potential Taiwan conflict. As we featured previously, Takaichi had suggested that any Chinese use of force against Taiwan could be considered a "situation threatening Japan’s survival" - which could justify Tokyo supporting allied nations in defense of the self-ruled island.

Beijing reacted swiftly, with a Chinese state broadcaster over the weekend having cautioned that the country is "fully prepared for concrete countermeasures," which could include sanctions, trade repercussions, and even the suspension of all diplomatic or military engagement - as cited in Bloomberg. All of this comes after NATO scrapped highly provocative plans to open a 'NATO office' in Japan.

Japan's Prime Minister Sanae Takaichi

Takaichi is only a month in office, and became the first Japanese leader in decades to publicly raise the Taiwan Strait crisis alongside the possible deployment of Japanese troops.

China's Foreign Ministry spokeswoman Mao Ning on Monday repeated Beijing's demand for a full retraction and apology. She called on Japan to "Stop crossing the line and playing with fire, retract the wrongful remarks and deeds and honor its commitments to China with real action." 

She further declared there is "no space" for ambiguity on what China sees as its territory. She further explained, "China has made its serious position clear several times on Japanese Prime Minister Sanae Takaichi’s wrongful remarks on Taiwan." She added: "The remarks seriously violate the spirit of the four political documents between China and Japan, and cause fundamental damage to the political foundation of China-Japan relations."

Bloomberg has cited one regional analyst who says a full severing of relations is likely not on the agenda:

"Although China’s reaction has been very strong so far, it’s very calculated," said Rui Aoyama, a professor of Japan-China relations at Waseda University in Tokyo. "China is aiming to deal a blow to Japan’s economy, but I don’t think there’s an intention to cut ties."

Yet this will be a serious test for Takaichi, and there could be painful economic repercussions for Japan just around the corner.

Already last week China urged its nationals not to travel to Japan, and summoned the Japanese ambassador to Beijing to condemn Takaichi's remarks.

State media ramping up the trolling and attacks...

The situation then turned into a tit-for-tat of outrage. Fox example Japan has been most angered at a social media post issued a week ago by China's consul general in the Japanese city of Osaka, Xue Jian. He had shared article about Takaichi's parliamentary remarks on X with his own words, "the dirty head that sticks itself in must be cut off." Tokyo quickly lodged its own diplomatic protest over the "high inappropriate" commentary.

But China has still maintained all of this ultimately stems from the "extremely wrong and dangerous" words of Japanese Prime Minister Sanae Takaichi related to defending Taiwan.

Tyler Durden Mon, 11/17/2025 - 18:50

Threats Of Sanctions, Economic Warfare, As Japan-China Relations Sink To Decades Low

Zero Hedge -

Threats Of Sanctions, Economic Warfare, As Japan-China Relations Sink To Decades Low

China and Japan are experiencing their most intense diplomatic tensions in years after Beijing issued economic warnings in response to recent comments by Japanese Prime Minister Sanae Takaichi about a potential Taiwan conflict. As we featured previously, Takaichi had suggested that any Chinese use of force against Taiwan could be considered a "situation threatening Japan’s survival" - which could justify Tokyo supporting allied nations in defense of the self-ruled island.

Beijing reacted swiftly, with a Chinese state broadcaster over the weekend having cautioned that the country is "fully prepared for concrete countermeasures," which could include sanctions, trade repercussions, and even the suspension of all diplomatic or military engagement - as cited in Bloomberg. All of this comes after NATO scrapped highly provocative plans to open a 'NATO office' in Japan.

Japan's Prime Minister Sanae Takaichi

Takaichi is only a month in office, and became the first Japanese leader in decades to publicly raise the Taiwan Strait crisis alongside the possible deployment of Japanese troops.

China's Foreign Ministry spokeswoman Mao Ning on Monday repeated Beijing's demand for a full retraction and apology. She called on Japan to "Stop crossing the line and playing with fire, retract the wrongful remarks and deeds and honor its commitments to China with real action." 

She further declared there is "no space" for ambiguity on what China sees as its territory. She further explained, "China has made its serious position clear several times on Japanese Prime Minister Sanae Takaichi’s wrongful remarks on Taiwan." She added: "The remarks seriously violate the spirit of the four political documents between China and Japan, and cause fundamental damage to the political foundation of China-Japan relations."

Bloomberg has cited one regional analyst who says a full severing of relations is likely not on the agenda:

"Although China’s reaction has been very strong so far, it’s very calculated," said Rui Aoyama, a professor of Japan-China relations at Waseda University in Tokyo. "China is aiming to deal a blow to Japan’s economy, but I don’t think there’s an intention to cut ties."

Yet this will be a serious test for Takaichi, and there could be painful economic repercussions for Japan just around the corner.

Already last week China urged its nationals not to travel to Japan, and summoned the Japanese ambassador to Beijing to condemn Takaichi's remarks.

State media ramping up the trolling and attacks...

The situation then turned into a tit-for-tat of outrage. Fox example Japan has been most angered at a social media post issued a week ago by China's consul general in the Japanese city of Osaka, Xue Jian. He had shared article about Takaichi's parliamentary remarks on X with his own words, "the dirty head that sticks itself in must be cut off." Tokyo quickly lodged its own diplomatic protest over the "high inappropriate" commentary.

But China has still maintained all of this ultimately stems from the "extremely wrong and dangerous" words of Japanese Prime Minister Sanae Takaichi related to defending Taiwan.

Tyler Durden Mon, 11/17/2025 - 18:50

Trump Says He Plans To Meet With NYC Mayor-Elect Mamdani To "Work Something Out"

Zero Hedge -

Trump Says He Plans To Meet With NYC Mayor-Elect Mamdani To "Work Something Out"

Update (1700ET): Mayor-elect Zohran Mamdani said he hoped to press President Trump to help ease the affordability crisis.

He said that if the president were willing to find common ground on the issue, he would be willing to work with him.

“The president ran a campaign where he spoke about a promise to deliver cheaper groceries, a promise to reduce the cost of living,” Mr. Mamdani said at news conference at a food pantry in the Bronx, where he served meals to visitors.

But he has also expressed doubt that the president has any such intentions.

“We are seeing his actions and that of his administration in Washington leading to the exact opposite effect for New Yorkers.”

Oh to be a fly on that wall!?

*  *  *

As Tom Ozimek detailed earlier for The Epoch Times, President Donald Trump said Nov. 16 that he plans to meet with New York City Mayor-elect Zohran Mamdani and “work something out,” signaling that he may be open to a working relationship with the self-described democratic socialist, whom the president has repeatedly said is a threat to the city.

“The mayor of New York, I will say, would like to meet with us and we’ll work something out,” Trump told reporters on Nov. 17 as he prepared to return to Washington after a weekend in Florida.

“We want to see everything work out well for New York.”

Mamdani—who defeated former New York Gov. Andrew Cuomo by nearly nine points to become the city’s first democratic socialist mayor—said during a Nov. 12 interview with NBC New York that he intends to reach out to the White House in the coming weeks.

The 34-year-old Ugandan-born, naturalized U.S. citizen called the relationship with Washington “critical to the success of the city” and said he is prepared to work with Trump on issues such as lowering the cost of living and delivering cheaper groceries.

Trump’s comments mark a softer stance for a president who has described Mamdani as a “communist” and threatened to cut off federal support to New York if voters elected him. At rallies and public appearances throughout the mayoral race, Trump was highly critical of Mamdani, at one point suggesting he could be arrested if he interfered with federal immigration enforcement.

Mamdani rose to national prominence by casting himself as an opponent of Trump’s agenda.

Mamdani has vowed to make New York the “strongest sanctuary city” in the nation, including by ending all cooperation with U.S. Immigration and Customs Enforcement (ICE) and getting ICE out of all city facilities.

His broader plan to “Trump-proof” New York aims to insulate the city from federal pressure, including by boosting immigration-related legal defense funding, shielding personal data from federal access, and expanding protections for transgender medical procedures.

The meeting—if it occurs—would come as Mamdani prepares to undergo federal vetting for a security clearance that incoming New York mayors are required to obtain before taking office.

Despite the heated campaign-era rhetoric, Trump’s tone toward New York has softened in recent days. Speaking at a Miami business forum shortly after Democrats notched several statewide wins on Nov. 4, Trump said he wanted the country’s largest city “to be successful” despite his misgivings about Mamdani’s policies.

“We’re going to see how that works out,” the president said.

“We‘ll help them. We want New York to be successful. We’ll help them a little bit.”

White House press secretary Karoline Leavitt said that no date has been set for a Trump–Mamdani meeting.

The early signals from both men suggest a cautious opening for cooperation once Mamdani takes office in January.

Tyler Durden Mon, 11/17/2025 - 18:25

Trump Says He Plans To Meet With NYC Mayor-Elect Mamdani To "Work Something Out"

Zero Hedge -

Trump Says He Plans To Meet With NYC Mayor-Elect Mamdani To "Work Something Out"

Update (1700ET): Mayor-elect Zohran Mamdani said he hoped to press President Trump to help ease the affordability crisis.

He said that if the president were willing to find common ground on the issue, he would be willing to work with him.

“The president ran a campaign where he spoke about a promise to deliver cheaper groceries, a promise to reduce the cost of living,” Mr. Mamdani said at news conference at a food pantry in the Bronx, where he served meals to visitors.

But he has also expressed doubt that the president has any such intentions.

“We are seeing his actions and that of his administration in Washington leading to the exact opposite effect for New Yorkers.”

Oh to be a fly on that wall!?

*  *  *

As Tom Ozimek detailed earlier for The Epoch Times, President Donald Trump said Nov. 16 that he plans to meet with New York City Mayor-elect Zohran Mamdani and “work something out,” signaling that he may be open to a working relationship with the self-described democratic socialist, whom the president has repeatedly said is a threat to the city.

“The mayor of New York, I will say, would like to meet with us and we’ll work something out,” Trump told reporters on Nov. 17 as he prepared to return to Washington after a weekend in Florida.

“We want to see everything work out well for New York.”

Mamdani—who defeated former New York Gov. Andrew Cuomo by nearly nine points to become the city’s first democratic socialist mayor—said during a Nov. 12 interview with NBC New York that he intends to reach out to the White House in the coming weeks.

The 34-year-old Ugandan-born, naturalized U.S. citizen called the relationship with Washington “critical to the success of the city” and said he is prepared to work with Trump on issues such as lowering the cost of living and delivering cheaper groceries.

Trump’s comments mark a softer stance for a president who has described Mamdani as a “communist” and threatened to cut off federal support to New York if voters elected him. At rallies and public appearances throughout the mayoral race, Trump was highly critical of Mamdani, at one point suggesting he could be arrested if he interfered with federal immigration enforcement.

Mamdani rose to national prominence by casting himself as an opponent of Trump’s agenda.

Mamdani has vowed to make New York the “strongest sanctuary city” in the nation, including by ending all cooperation with U.S. Immigration and Customs Enforcement (ICE) and getting ICE out of all city facilities.

His broader plan to “Trump-proof” New York aims to insulate the city from federal pressure, including by boosting immigration-related legal defense funding, shielding personal data from federal access, and expanding protections for transgender medical procedures.

The meeting—if it occurs—would come as Mamdani prepares to undergo federal vetting for a security clearance that incoming New York mayors are required to obtain before taking office.

Despite the heated campaign-era rhetoric, Trump’s tone toward New York has softened in recent days. Speaking at a Miami business forum shortly after Democrats notched several statewide wins on Nov. 4, Trump said he wanted the country’s largest city “to be successful” despite his misgivings about Mamdani’s policies.

“We’re going to see how that works out,” the president said.

“We‘ll help them. We want New York to be successful. We’ll help them a little bit.”

White House press secretary Karoline Leavitt said that no date has been set for a Trump–Mamdani meeting.

The early signals from both men suggest a cautious opening for cooperation once Mamdani takes office in January.

Tyler Durden Mon, 11/17/2025 - 18:25

Man Stabbed In Broad Daylight In Times Square Collapses While Yelling "Save The Children"

Zero Hedge -

Man Stabbed In Broad Daylight In Times Square Collapses While Yelling "Save The Children"

Zohran Mamdani's election is already making Manhattan safer...and more sane. A man believed to be homeless was stabbed twice in Times Square in broad daylight on Saturday, then staggered around shouting “save the children” as he bled heavily, according to the NY Post. 

The 30-year-old was attacked around 11:40 a.m. outside 1501 Broadway near West 44th Street, where a suspect stabbed him in the left ribs and arm.

A nearby vendor said the victim, shirtless and bleeding from the chest, kept yelling after being wounded.

He was taken to Bellevue Hospital in stable condition but was described as “highly uncooperative,” leaving police unsure of the motive. The attacker fled and was last seen wearing a black jacket and dark pants. Blood was left pooled on the sidewalk outside the Raising Cane’s restaurant in the middle of Times Square.

The Post writes that according to NYPD data, felony assaults in the 14th Precinct are up 1% this year, rising to 476 from 471.

Felony assaults are down 0.2% citywide, and major crime has fallen 3% compared with this time last year, according to NYPD data.

But with new Mayor-elect Mamdani’s well-known anti-police stance, the stability of that trend is far from guaranteed — and who knows how long any decline will last. Our guess: probably not long.

Tyler Durden Mon, 11/17/2025 - 18:00

La Caisse, TPG and Management Acquire Pike Corporation

Pension Pulse -

Kevin Ellis of Business North Carolina reports private equity-backed Pike acquired by new private equity firms:

Private equity-backed Pike will be acquired by a partnership of private equity firms. San Francisco-based TPG and Montreal-based La Caisse announced Monday they had acquired a majority interest in Pike, which offers infrastructure engineering and construction services to more than 400 U.S. utilities and other organizations.

TPG will invest in Pike through TPG Rise Climate, the firm’s dedicated climate investing platform, with La Caisse investing alongside TPG for a significant minority interest. J. Eric Pike, third-generation founder and chairman of Pike, and Pike CEO James R. Wyche, also are investing alongside TPG and La Caisse with other existing investors.

Following completion of the transaction, the company will continue to be led by Wyche and the current management team, which combined have more than 200 years at Pike. Eric Pike will continue to serve on the company’s board of directors. Terms of the transaction were not disclosed.

Private equity firm Lindsay Goldberg purchased a majority stake in Pike in 2020. Lindsay Goldberg lined up TPG to purchase Pike in a deal valued at more than $5 billion, reports Octus, a credit intelligence and data provider firm for investment banks, law firms and advisory firms.

Founded in 1945 by Pike’s grandfather, Floyd Pike, the company was based in Mount Airy for decades before establishing its long-term headquarters in Charlotte this year. It has about 12,000 employees.

TPG has $286 billion in assets under management, along with about 1,900 employees, as of Sept. 30.

“Pike’s legacy as a family-founded company has been defined by safety, integrity and innovative solutions,” said Pike in a release. “Our success has been a direct result of the dedication of our team, our long-tenured customers and the support of our investors. I am excited to continue supporting the company with our new partners.”

“TPG’s and La Caisse’s investments mark an exciting new chapter for Pike and provide us with the resources to execute our shared vision for Pike as the leading national provider for energy infrastructure solutions,” said Wyche in a release.

“As the U.S. power grid faces rising demand, aging infrastructure, and increased exposure to extreme weather, Pike is uniquely positioned to help utilities adapt, modernize, and harden their systems,” said Jonathan Garfinkel, a managing partner of TPG Rise Climate.

Moelis & Company served as financial adviser and Ropes & Gray as financing counsel to TPG in relation to this transaction. Simpson Thacher & Bartlett provided legal counsel to TPG and A&O Shearman served as legal advisor to La Caisse. Morgan Stanley & Co. served as Pike’s financial advisor and Kirkland & Ellis served as legal counsel. 

Earlier today, La Caisse issued a statement stating Pike Corporation to accelerate growth through partnership with it, TPG, and Management:

  • Partnership will support grid modernization and climate adaptation for U.S. electric utilities

TPG, a leading global alternative asset manager, and global investment group La Caisse (formerly CDPQ), today announced that they have partnered with the management team of Pike Corporation, a leading national provider of turnkey infrastructure engineering and construction solutions for the electrical grid, and signed a definitive agreement to acquire a majority interest in Pike.

TPG will invest in Pike through TPG Rise Climate, the firm’s dedicated climate investing platform, with La Caisse investing alongside TPG for a significant minority interest. J. Eric Pike, third-generation founder and Chairman of Pike, and James R. Wyche, Chief Executive Officer of Pike, also are investing alongside TPG and La Caisse with other existing investors. Following completion of the transaction, the company will continue to be led by Mr. Wyche and the current management team, which combined have over 200 years at Pike. Mr. Pike will continue to serve on the company’s Board of Directors. Terms of the transaction were not disclosed.

“Pike’s legacy as a family-founded company has been defined by safety, integrity and innovative solutions,” said J. Eric Pike, Chairman of Pike. “Our success has been a direct result of the dedication of our team, our long-tenured customers and the support of our investors. I am excited to continue supporting the company with our new partners.”

“TPG’s and La Caisse’s investments mark an exciting new chapter for Pike and provide us with the resources to execute our shared vision for Pike as the leading national provider for energy infrastructure solutions,” said James R. Wyche, CEO of Pike. “I look forward to working with TPG, La Caisse and our other stakeholders to continue helping our customers achieve their goal of providing affordable, reliable energy.”

Founded in 1945, Pike Corporation is among the nation’s leading providers of turn-key infrastructure solutions, including construction and engineering for electric distribution, transmission and substation; renewables and distributed energy resources; and telecommunications services. With approximately 12,000 employees serving over 400 customers, Pike plays a foundational role in building and maintaining critical infrastructure and addressing the demands of aging infrastructure, load growth, and climate-driven stress facing the electric grid.

“As the U.S. power grid faces rising demand, aging infrastructure, and increased exposure to extreme weather, Pike is uniquely positioned to help utilities adapt, modernize, and harden their systems,” said Jonathan Garfinkel, a Managing Partner of TPG Rise Climate. “We see a long-term growth opportunity for grid services providers in the US and we look forward to partnering with the Pike team – well-established leaders in the industry – to advance grid resilience and energy reliability across the country,” added TPG Rise Climate’s Elizabeth Stone Redding.

“Pike helps keep the power on and the grid strong—an essential service for businesses and communities across the United States,” said Martin Longchamps, Executive Vice-President and Head of Private Equity and Private Credit at La Caisse. “As a global investor with significant exposure to the power and energy sector, La Caisse understands the critical role service providers like Pike play in ensuring grid reliability and resilience. Together with TPG, we’re investing in the growth of a proven leader supporting the backbone of the country’s energy network.”

Moelis & Company LLC is serving as financial advisor and Ropes & Gray LLP is acting as financing counsel to TPG in relation to this transaction. Simpson Thacher & Bartlett LLP is providing legal counsel to TPG and A&O Shearman is serving as legal advisor to La Caisse. Morgan Stanley & Co. LLC is serving as Pike’s financial advisor and Kirkland & Ellis LLP is serving as legal counsel. 

ABOUT TPG RISE CLIMATE

TPG Rise Climate is the dedicated climate investing platform of TPG, a leading global alternative asset management firm. With dedicated pools of capital across private equity, transition infrastructure, and the Global South, TPG Rise Climate pursues climate-related investments that benefit from the diverse skills of TPG’s investing professionals around the world, the strategic relationships and insights developed across TPG’s broad portfolio of climate companies, and a global network of executives, advisors, and corporate partners. As part of TPG’s $29 billion global impact investing platform, TPG Rise Climate invests broadly across the climate sector, with a focus on building and scaling leading climate solutions across the following thematic areas: clean electrons, clean molecules and materials, and adaptive solutions.

For more information, please visit www.tpg.com/platforms/impact/rise-climate

ABOUT LA CAISSE

At La Caisse, formerly CDPQ, we have invested for 60 years with a dual mandate: generate optimal long term returns for our 48 depositors, who represent over 6 million Quebecers, and contribute to Québec’s economic development.

As a global investment group, we are active in the major financial markets, private equity, infrastructure, real estate and private credit. As at June 30, 2025, La Caisse’s net assets totalled CAD 496 billion. For more information, visit lacaisse.com or consult our LinkedIn or Instagram pages. 

This is a significant deal in a US infrastructure company that plays a critical role in maintaining and upgrading the electric grid. 

TPG, a premiere private equity firm, offered La Caisse a co-investment to acquire Pike in a deal that values the company at more than $5 billion (from article above, citing Octus, a credit intelligence and data provider firm).

TPG will invest in Pike through TPG Rise Climate, the firm’s dedicated climate investing platform, with La Caisse investing alongside it. 

Once completed, La Caisse will own a significant minority stake in Pike and along with TPG and management, will help the company grow its operations throughout the United States.

The press release states:

J. Eric Pike, third-generation founder and Chairman of Pike, and James R. Wyche, Chief Executive Officer of Pike, also are investing alongside TPG and La Caisse with other existing investors. Following completion of the transaction, the company will continue to be led by Mr. Wyche and the current management team, which combined have over 200 years at Pike. Mr. Pike will continue to serve on the company’s Board of Directors. 

This is called ensuring alignment of interests, everyone is on board and looking to grow the business while maintaining the same high standards Pike has delivered since it was founded. 

Every part of this deal is impressive offering La Caisse a great opportunity to invest alongside a top strategic partner in a growing firm that plays a vital role in electricity transmission, and will continue to do so for many years to come.

From La Caisse's vantage,  Martin Longchamps, Executive Vice-President and Head of Private Equity and Private Credit sums it up well: 

“Pike helps keep the power on and the grid strong—an essential service for businesses and communities across the United States. As a global investor with significant exposure to the power and energy sector, La Caisse understands the critical role service providers like Pike play in ensuring grid reliability and resilience. Together with TPG, we’re investing in the growth of a proven leader supporting the backbone of the country’s energy network.” 

And it goes without saying electricity transmission is all about clean energy, so it fits well into La Caisse's sustainable investing portfolio.

Lastly, last week, I lambasted Quebec premier Francois Legault for proposing a measure to force La Caisse to invest more in Quebec stating this:

I have no problem with La Caisse's dual mandate but let's not lie to Quebec's population contributing their hard earned money to this organization, there's an opportunity cost investing more in Quebec.

More investments in Quebec means less investments globally at a time when great opportunities will arise at the global level. 

In other words, if there are better opportunities in the US, Europe and Asia, why invest more in Quebec? To make Quebec's billionaires a lot wealthier? (most of whom got huge help from La Caisse)

Yes, we have good businesses in Quebec, I don't have a problem investing in companies we know and understand, but give me a break with this "Quebec Power" nonsense, we are nothing compared to the global economy and the sooner we realize this, the better off we will be over the long run.

In short, when it comes to investing in Quebec or co-investing alongside strategic partners like KKR, Blackstone and many others in incredible global deals, hands down I would choose the latter.

And La Caisse does both well, so let them do their job and stop interfering with their investment policy, you are going to bungle it up just like "la loi 2" is going to bungle up Quebec's healthcare.

This deal with TPG just proves my point, if there are better opportunities outside Quebec, La Caisse needs to evaluate them and seize them if they offer Quebec pension contributors and beneficiaries better long-term risk-adjusted returns.

Below, a clip demonstrating Pike's suite of services (from three years ago, they're up to 12,000 employees now and growing fast). As you can read, the company does a lot more than electricity transmission, and has a dedicated telecom and gas services team.

ICE, Partners Launch Initiative To Protect 450,000 Children From Unvetted Sponsors

Zero Hedge -

ICE, Partners Launch Initiative To Protect 450,000 Children From Unvetted Sponsors

Authored by Naveen Athrappully via The Epoch Times (emphasis ours),

Immigration and Customs Enforcement (ICE) launched an initiative aimed at protecting 450,000 unaccompanied children (UAC) who were illegally smuggled into the United States, and then placed with unvetted sponsors during the Biden administration, the Department of Homeland Security (DHS) said in a statement on Nov. 14.

A migrant child awaits to be processed by Border Patrol agents in Otay Mesa, Calif., on Feb. 29, 2024. John Fredricks/The Epoch Times

ICE is carrying out the UAC Safety Verification Initiative in partnership with state and local law enforcement agencies under the 287(g) program, DHS said. The 287(g) program allows local and state law enforcement to enforce certain aspects of federal immigration law.

The primary focus of the initiative will be to carry out welfare checks on nearly half a million children to ensure they are living safely and are not subject to any exploitation, DHS said.

The department blamed the Biden administration’s open border policies for having “empowered” human and sex traffickers and stated that the Trump administration is taking a “sledgehammer” to such trafficking rings.

Between Jan. 21 and Oct. 31 this year, there were 106,134 total enforcement encounters along the southwest border compared to the monthly average of 155,485 encounters under President Joe Biden, according to a DHS statement on Nov. 5.

The UAC Safety Verification initiative kicked off on Nov. 10 in Florida and will soon roll out to other parts of the country, DHS said in its recent statement.

Among the many sponsors already arrested by ICE for criminal activity are a Honduran immigrant sponsor from Florida who has been convicted by state authorities for assault, a Guatemalan sponsor from Georgia convicted of domestic violence by authorities, and an El Salvadoran sponsor from Michigan who was convicted of drug trafficking.

DHS Secretary Kristi Noem is “leading efforts to rescue and stop the exploitation of the 450,000 unaccompanied children the Biden administration lost or placed with unvetted sponsors. Many of the children who came across the border unaccompanied were allowed to be placed with sponsors who were smugglers and sex traffickers,” DHS Assistant Secretary Tricia McLaughlin said.

McLaughlin said that the Trump administration has so far located over 24,400 of these children across the country.

“We’ve jumpstarted our efforts to rescue children who were victims of sex and labor trafficking by working with our state and local law enforcement partners to locate these children,” McLaughlin said.

An August 2024 report from the DHS Office of Inspector General found that 323,000 illegal immigrant children were unaccounted for in the country.

As of May 2024, this included more than 32,000 children who were served notices to appear in court but failed to do so. In addition, the safety of an additional 291,000 children could not be verified, according to the report.

The Trump administration has faced legal challenges regarding illegal unaccompanied minors.

In October, advocacy groups American Immigration Council and the National Immigrant Justice Center filed an emergency motion in court, seeking to enforce a 2021 ruling that prohibits ICE from transferring unaccompanied immigrant children to adult detention centers once they hit the age of 18, according to an Oct. 4 statement from the council.

When unaccompanied children enter the country, they are initially placed in shelters operated by the Office of Refugee Resettlement (ORR) and later released to family members or vetted sponsors and not ICE’s detention centers, the council said, adding that “these policies recognize that children need care and support, not punishment.”

“Locking up these young people in ICE jails rife with overcrowding and hazardous conditions, and far from their support systems, does nothing to make our communities safer; it only inflicts more harm on vulnerable youth,” Michelle Lapointe, legal director at the council, said. The emergency request was granted by the court.

According to ICE, its Enforcement and Removal Operations (ERO) is tasked with managing the civil immigration detention system. ICE clarified that it does not detain unaccompanied children except in certain rare instances.

The responsibilities regarding the care and custody of these minors lie with the ORR, an agency under the Department of Health and Human Services, it said.

“In accordance with the Trafficking Victims Protection Reauthorization Act (TVPRA) of 2008, ERO coordinates closely with inter-departmental partners to ensure the timely and safe transfer of unaccompanied alien children from DHS to HHS ORR custody,” the agency said.

Tyler Durden Mon, 11/17/2025 - 17:40

ICE, Partners Launch Initiative To Protect 450,000 Children From Unvetted Sponsors

Zero Hedge -

ICE, Partners Launch Initiative To Protect 450,000 Children From Unvetted Sponsors

Authored by Naveen Athrappully via The Epoch Times (emphasis ours),

Immigration and Customs Enforcement (ICE) launched an initiative aimed at protecting 450,000 unaccompanied children (UAC) who were illegally smuggled into the United States, and then placed with unvetted sponsors during the Biden administration, the Department of Homeland Security (DHS) said in a statement on Nov. 14.

A migrant child awaits to be processed by Border Patrol agents in Otay Mesa, Calif., on Feb. 29, 2024. John Fredricks/The Epoch Times

ICE is carrying out the UAC Safety Verification Initiative in partnership with state and local law enforcement agencies under the 287(g) program, DHS said. The 287(g) program allows local and state law enforcement to enforce certain aspects of federal immigration law.

The primary focus of the initiative will be to carry out welfare checks on nearly half a million children to ensure they are living safely and are not subject to any exploitation, DHS said.

The department blamed the Biden administration’s open border policies for having “empowered” human and sex traffickers and stated that the Trump administration is taking a “sledgehammer” to such trafficking rings.

Between Jan. 21 and Oct. 31 this year, there were 106,134 total enforcement encounters along the southwest border compared to the monthly average of 155,485 encounters under President Joe Biden, according to a DHS statement on Nov. 5.

The UAC Safety Verification initiative kicked off on Nov. 10 in Florida and will soon roll out to other parts of the country, DHS said in its recent statement.

Among the many sponsors already arrested by ICE for criminal activity are a Honduran immigrant sponsor from Florida who has been convicted by state authorities for assault, a Guatemalan sponsor from Georgia convicted of domestic violence by authorities, and an El Salvadoran sponsor from Michigan who was convicted of drug trafficking.

DHS Secretary Kristi Noem is “leading efforts to rescue and stop the exploitation of the 450,000 unaccompanied children the Biden administration lost or placed with unvetted sponsors. Many of the children who came across the border unaccompanied were allowed to be placed with sponsors who were smugglers and sex traffickers,” DHS Assistant Secretary Tricia McLaughlin said.

McLaughlin said that the Trump administration has so far located over 24,400 of these children across the country.

“We’ve jumpstarted our efforts to rescue children who were victims of sex and labor trafficking by working with our state and local law enforcement partners to locate these children,” McLaughlin said.

An August 2024 report from the DHS Office of Inspector General found that 323,000 illegal immigrant children were unaccounted for in the country.

As of May 2024, this included more than 32,000 children who were served notices to appear in court but failed to do so. In addition, the safety of an additional 291,000 children could not be verified, according to the report.

The Trump administration has faced legal challenges regarding illegal unaccompanied minors.

In October, advocacy groups American Immigration Council and the National Immigrant Justice Center filed an emergency motion in court, seeking to enforce a 2021 ruling that prohibits ICE from transferring unaccompanied immigrant children to adult detention centers once they hit the age of 18, according to an Oct. 4 statement from the council.

When unaccompanied children enter the country, they are initially placed in shelters operated by the Office of Refugee Resettlement (ORR) and later released to family members or vetted sponsors and not ICE’s detention centers, the council said, adding that “these policies recognize that children need care and support, not punishment.”

“Locking up these young people in ICE jails rife with overcrowding and hazardous conditions, and far from their support systems, does nothing to make our communities safer; it only inflicts more harm on vulnerable youth,” Michelle Lapointe, legal director at the council, said. The emergency request was granted by the court.

According to ICE, its Enforcement and Removal Operations (ERO) is tasked with managing the civil immigration detention system. ICE clarified that it does not detain unaccompanied children except in certain rare instances.

The responsibilities regarding the care and custody of these minors lie with the ORR, an agency under the Department of Health and Human Services, it said.

“In accordance with the Trafficking Victims Protection Reauthorization Act (TVPRA) of 2008, ERO coordinates closely with inter-departmental partners to ensure the timely and safe transfer of unaccompanied alien children from DHS to HHS ORR custody,” the agency said.

Tyler Durden Mon, 11/17/2025 - 17:40

Nihilistic Accelerationism: Kirk Assassin & Butler, PA Shooter Share Disturbing Online Far-Left Radicalization, Furry Fetish

Zero Hedge -

Nihilistic Accelerationism: Kirk Assassin & Butler, PA Shooter Share Disturbing Online Far-Left Radicalization, Furry Fetish

Building on Tucker Carlson's reporting about President Donald Trump's would-be assassin, Thomas Crooks, and what increasingly appears to be a major FBI cover-up of Crooks' political leanings and far-left radicalization, a new New York Post investigation reveals even more disturbing details, including a strange "furry" obsession strikingly similar to that of Charlie Kirk's suspected shooter. 

Sixteen months after the attempted assassination of Donald Trump in Butler, Pennsylvania, Carlson dropped bombshells of Crook's online history, including dozens of social media posts that show the young man was radicalized in just a few short years to a radical leftist who apparently had a weird obsession with furry culture. 

Here's more color on NYPost's reporting of Crooks' furry fetish:

When told of Crooks' online threats, he said there was no way the FBI would not be aware of the teenager.

Among the 17 accounts uncovered by our source, only one, on PayPal, was operated under an alias: "Rod Swanson."

Rod Swanson is a former senior FBI agent who was the chief of investigations for the state of Nevada during the 2017 Las Vegas mass shooting.

. . . 

"No matter how ridiculous the allegation, no matter if it's COVID or not, somebody is going to knock on somebody's door," Swanson said. "If they investigated that kid there's a record of it and there's an assessment that some leader made that this was not a threat or it rose to a level and they did something else."

He also said that "if the FBI had that information [about his name on the PayPal account], I can't even imagine they would not have reached out to me right away."

. . .

He described himself with the pronouns "they/them" on the platform DeviantArt, which is one of the biggest online hubs for "furry" art and the "furry" community. (A furry is someone who has an interest in anthropomorphized animal characters, often as a sexual fetish.)

. . .

Two accounts linked to Crooks' primary email were found on DeviantArt, under usernames "epicmicrowave" and "theepicmicrowave." The account suggests he had an obsession with scantily clad cartoon characters sporting muscle-bound male bodies and female heads.

What's especially troubling is that Crooks' radicalization, along with his embrace of furry culture and gender-identity experimentation, reflects the same pattern of behavior seen in Charlie Kirk's accused shooter, Tyler Robinson.

On Friday, Rep. Tim Burchett (R-Tenn.) made a bold claim during an interview with Benny Johnson, saying, "Crooks was groomed by the CIA through MKUltra-style mind-control programs and dark intelligence operations for the sole purpose of taking out President Trump in Butler, PA."

Related: 

The real question we should all be asking:

  • What in the world is happening to America's kids?

  • How are they being radicalized online in such a short span of time?

  • What is triggering young people to carry out such heinous acts driven by what can only be described as a kind of nihilistic accelerationism?

Mike Benz warns: "something in the water…" 

Right. 

Even the Deep State-controlled media outlet The Atlantic had to point out "Left-Wing Terrorism Is on the Rise." 

The bigger question is, why did the FBI cover up Crooks? It becomes incredibly apparent by now.

Tyler Durden Mon, 11/17/2025 - 17:20

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