July 12
Bitcoin is $64,146 vs $63,950 | 15:35 Friday | 11:25 Sunday
Republican Senator Lindsey Graham of South Carolina died at age 71 | Peak
Graham was elected in 2002 and supported the Iraq War, opposed the Afghanistan withdrawal, and backed aid to Israel and Ukraine. He returned from a visit to Kyiv the day before his death.
OK get your tinfoil ready. Graham inspected a drone factory in Ukraine yesterday. Russia blew up that facility today. Then, tonight, it is announced that Graham is dead from a “sudden illness”. No more details. It could, of course, be a sudden heart attack right after returning home, but it could also be that he was struck in a drone | Burn
The world is a little safer today. | Arm
It was both John McCain and Lindsey Graham that instigated using Ukraine to become their proxy war against Russia. It was McCain who was behind the fake story of the Magnitsky Act. Never in my life did I ever meet two people I honestly felt I needed a shower after shaking hands.
Well, At Least Lindsey Graham Is Dead
At least that’s one good thing. No matter what else happens today, they can’t take that away from us.
Israel has lost one of its greatest friends. This was an understatement. | Respon
The U.S. Senate As a Nursing Home
Most Americans, I think, don’t like age limits and term limits, but with politicians hanging onto power from hospital rooms, their medical condition guarded like “top secret” matters of state, one has to wonder whether age and term limits should be adopted.
Graham was a fanatical supporter of Israel and an outspoken proponent of war against Iran and virtually any other country. He glommed on to the MAGA movement and became a useful dupe to President Trump, who praised him in death as a “true American patriot.” And if the definition of patriot is “MAGA warmonger,” he was definitely that.
Nancy Mace Interested in Graham’s Vacated Senate Seat | PWire
US pledges to protect Hormuz vessels during Iran strikes | AlJz
Iran claims attacks on Jordan, Bahrain, Kuwait, Qatar, and Oman with missiles and suicide drones
Peak: In a continued re-escalation of the US-Iran conflict, Iran declared the Strait of Hormuz closed, and its IRGC forces attacked the Cyprus-flagged container ship M/V GFS Galaxy, later claiming a second US vessel was struck and disabled in the waterway. The US responded with strikes on Iranian sites, including Bushehr, Asalouyeh, Bandar Abbas, and Sirik. Iran’s IRGC subsequently claimed the following successful ballistic missile strikes:
Socialist NYC Mayor Mamdani Inadvertently Hands ICE A Target Map To Catch Illegals | Zero
Uh Oh: Mamdani's New NYC Map Includes 'Little Auschwitz' In Brooklyn | Bee
For decades, Whites could ignore the growing non-White populations
because the bulk of them lived in ghettos or large metropolises. The normal middle-class family was mostly insulated from diversity. If Americans hardly recognize their country now compared to the 1990s and 2000s, just wait for 2035. Whites will become an ethnic minority, and they will be the topic of discussions in future Congressional committees on what the fate of them should be: deportation, isolation or extermination. Batten down the hatches, my European brothers, a storm is coming.
The rigging of both sports and financial markets is now beyond obvious. | QTR
I think gambling itself is quietly becoming one of the defining cultural problems of our time. How exactly is the average fan supposed to believe they’re making informed decisions? We’ve seen the same erosion of trust spill over into politics and financial markets. Over the last six months alone, there have been a string of remarkably well-timed options trades, commodity bets, and prediction market wagers placed just ahead of major Trump administration announcements on tariffs, geopolitical events, and other market-moving decisions.
The Summer of Ludd
Two weeks ago, New York City’s East Village became a gathering place for a new generation of Luddites. Events included self-defense workshops, tea parties, journaling with scraps and found materials, and our personal favorite: Google in Real Life, where people gathered to ask and answer each other’s questions. Another hands-on session introduced participants to shortwave radios, FM transmitters and walkie-talkies.
Debt Rattle
Is the Patriot license a political ploy by Trump?
Muhammad Tops Baby Boys’ Names In England And Wales For Third Straight Year
Newsom wants you to believe he’s the victim
Currency Pegs and Carry Trades | CBB
Two-year Treasury yield closed week at 4.21%, up 73bps y-t-d. The market is pricing a 4.10% policy rate for the April 28, 2027, FOMC meeting, implying almost two (1.9) rate increases. This compares to 2.925% on February 27th. So, the rates market has gone from two cuts to now pricing two rate increases.
CPI on Tuesday
Cleveland Fed Forecasts: June headline CPI down -0.06 with Core CPI up +0.23
The week will also feature Warsh testimony to Congress, PPI, retail sales, and industrial production
Atlanta Fed GDP Now tracker for Q2 is 1.3%
The Week in Pictures
Who would have imagined that the campaign of a Nazi-tattooed Communist would come to grief?
England, Argentina to renew bitter rivalry in World Cup semi-final Wednesday
The winner of that game will take on the victor of France's semi-final with Spain – they meet in Texas on Tuesday – in the final on July 19.
For Messi, it will be his 206th match in an Albiceleste shirt, but his first ever against England.
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