June 14
Bitcoin is up 1,342 to 64,988 from 63,656 Friday | 6:09 Sunday
Crude oil fell to $81.07, down 4.63% | 6:09
Iran says final talks start only after assets are unfrozen | Iran at 6:13
Iran says end of war to be announced starting tonight | Iran at 6:00
US, Iran Reach Peace Deal, Signing Set for Friday | Epoch
Pakistan announces US-Iran ceasefire ‘now in place | AlJz
Trump says he authorised removal of US naval blockade
Peace deal includes ‘immediate’ halt in fighting, including Lebanon
‘Trump screwed us:’ Israeli officials fume over emerging Iran peace deal – media | RT
Israel doing it’s “best” to stop agreement | Wauck
The attack in Lebanon was carried out next to a highly frequentated bakery
S&P Oil FX Gold 10Y CLZ6
There’s a 59 Percent Chance of at Least One Fed Rate Hike by December | Mish
AAA gasoline contines to fall. It is $4.074 on Sunday vs $4.534 a month ago
Cleveland Fed see June headline CPI almost unchanged at 0.07 m/m
The single most important driver of the dollar is US interest rates | Marc
This week: industrial output, retail sales, and housing starts on tap. However, the most important event is the FOMC meeting, which Warsh will chair for the first time and hold a press conference.
The Bernanke, Yellen, Powell era at the Fed is over. Warsh is from a different school of thought. In addition to changes at the Federal Reserve itself, which may include communication and inflation targets, we suspect there is a reasonably good case for a new Treasury-Fed accord and the revaluation of gold
Chinese immigrants overtake Dominicans as NYC's largest foreign-born group | Goth
The city’s Chinese population reached 397,000 in 2023.
Dominicans had reigned as New York City’s largest foreign-born group since 1990
Buc-ees is a chain of travel centers that offers fuel, car wash, EV charging, and more
The company is known for renting advertising billboards on major highways, at distances hundreds of miles away from a single Buc-ee's location. The chain is popular especially compared with other gas stations because of its large, loyal base of frequent customers. Its bathrooms have gained significant acclaim.
Buc-ee’s is America | PL
Today’s Peak Digest
India invoked emergency powers to limit diesel sales to 200 liters per customer for 90 days
Congress Pushes To Require Intel Sharing with Israel
Israel issued displacement orders for 29 towns and villages in Lebanon and struck 70 targets
CDC awarded Pfizer contracts totaling more than $1.24 billion for adult and pediatric COVID-19 vaccines
Tulsi’s Disclosure Is Incredibly Important To The National Debate | Kory
The Biden Administration lied to Americans about Ukrainian biolabs and many were consequently defamed as “Russian propagandists” for believing what Russia accurately claimed.
Debt Rattle
Musk built Zip2 with his brother in 1995. Sold it to Compaq Computer in 1999 for $305 million
Zip2 was Elon's first company. It provided online city guide software to newspapers.
Hillary Clinton Fears Revolution Preventing US From Being A Rainbow Nation
Most Americans don’t want to live in a Rainbow Nation.
* Carney in France 3 Days Early for Strategy Session: the best way to defeat Godzilla Trump
* 400 Businesses, $6 Billion in Fed Contracts, No Physical Addresses. The fraud in the US is staggering.
Elon's companies employ 170,000. AOC drove Amazon out of New York, killing 40,000 jobs
One creates. The other destroys. | Insta
Wait, isn’t our current health insurance system Obamacare? | Insta
In Case You Missed It ... Faster, Please
A selection of pro-progress and anti-progress news items from the past week.
The news in summer is so slow, even Kamala could follow it. | Surber
He lists many funny items with comments.
SpaceX’ Stock Price Will Come Down To Earth | Moon
Unfortunately the total value of the company is only less than half of what its stock price says.
Artificial Intelligence and natural stupidity | Argentina
A bill still awaits Congress approval but President Javier Milei has proposed granting legal status to companies peopled (or “non-peopled”) by creations of Artificial Intelligence. Since these future robot companies will presumably be paying taxes, does this mean that any number of avatars could be given the right to vote?
What does artificial intelligence (AI) actually do when it is put in charge? | Zero
The systems they chose are the ones now already woven into the fabric of our daily lives. Google’s Gemini, OpenAI’s GPT, xAI’s Grok, and Anthropic’s Claude. All models had the same rules and the same initial version of the same world, but the outcomes were all completely different.
The AI They Don't Want You to Have
Powerful technologies create risks. These capabilities are supposedly far too dangerous for independent scientists, small laboratories, entrepreneurs, citizen researchers, and the general public. Yet they are somehow safe in the hands of governments and the institutions governments choose to trust. What evidence supports that conclusion?
The Fear of the Signal: Why the State Urgently Wants to Bind Prediction Markets
To a central planner, nothing is more dangerous than an accurate, uncontrolled price signal. This fear is what is precipitating government attempts to either control or outright ban prediction markets. Prediction markets succeed because they bypass the echo chambers of institutional punditry and replace them with a brutal, real-time mechanism for truth.
The Crisis at the Fed That No One Talks About
The Fed has lost hundreds of billions of dollars due to its huge interest rate risk position. This costly risk was established under the then-chairman, Ben Bernanke, who assured Congress it would be temporary. It wasn’t. It was continued under the regimes of Janet Yellen and Jerome Powell and remains embedded in the Fed’s balance sheet today, almost 18 years after Mr. Bernanke’s original gamble.
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