David Rader

U.S. Government Contracting Officer (retired 2017) lived in Europe for 18 years (Germany & Italy & Iceland). US Navy Veteran served 3 years on Aircraft Carrier.

[David Rader @DavidARader]

https://t.co/KFOclkGXyR

[David Rader @DavidARader]

@BullTheoryio https://t.co/TUIt2E20N5

[Bull Theory @BullTheoryio]

🚨 INDIA MAY HAVE JUST WITNESSED ONE OF ITS BIGGEST ACCOUNTING FRAUDS EVER.

SEBI alleges that Rajesh Exports, one of India's most well known gold companies and a Fortune Global 500 firm, faked $158 billion in revenue, 99.8% of everything it ever claimed to earn over the last 5 years.

Rajesh Exports owns a Swiss gold refiner called Valcambi SA through overseas subsidiaries.

The parent company booked the full value of refined gold as its own revenue, even though it never owned the gold. It only held it temporarily for refining on behalf of customers.

Valcambi's own audited financials show it generated less than 0.5% of what Rajesh Exports was claiming as group revenue.

When SEBI asked for subsidiary financial records, Rajesh Exports repeatedly refused, citing Swiss privacy laws. SEBI is legally authorised under those same laws to request the records.

SEBI also found $1.3 billion in recorded transactions with a firm called Affluence Shares and Stocks.

Affluence told SEBI directly that Rajesh Exports was never its client, no agreement existed, and no trades were ever executed.

SEBI alleged those entries were fabricated to match gold derivative trades the owner was running through his personal account using company funds transferred without board approval.

Owner Rajesh Mehta has been banned from all securities market activity and a forensic audit has been ordered.

LIC, India's largest state insurer, owns 10.8% of the company.

The company has denied all charges and plans to contest the order.

[David Rader @DavidARader]

@RealJimChanos https://t.co/TUIt2E20N5

[Sawyer Merritt @SawyerMerritt]

Wow, the S&P Dow Jones Indices has just officially announced that they will NOT be changing their inclusion rules to make it easier for “MegaCap” companies (such as @SpaceX) to be fast-tracked into the S&P 500.

Their reasoning:
"S&P DJI determined that exceptions to the financial viability, seasoning, and IWF requirements should not be granted solely based on market capitalization. The decision not to adopt the proposed exceptions preserves core index principles by maintaining consistent application of these key requirements. Although there may be trade-offs between strict adherence to these eligibility requirements and broad representativeness, the current methodology provides substantial market coverage and sector balance. As a result, the indices can continue to meet their stated objectives while preserving their role as representative and investable benchmarks for the U.S. equity market.

No changes will be made to the eligibility criteria including financial viability screens, seasoning period, or minimum IWF, for the S&P 500, S&P MidCap 400, or S&P SmallCap 600 as a result of the S&P Dow Jones Indices consultation on the treatment of MegaCap companies. Accordingly, there will be no changes to existing methodology for this index family."

This means that the earliest @SpaceX could be eligible to be added to the S&P 500 would now be June 2027.

The requirements that will now remain in place are:
• No changes to S&P 500 eligibility rules for mega-cap companies.
• Mega-cap companies will still need to wait 12 months after their IPO before being considered for S&P 500 inclusion.
• S&P will not waive profitability requirements for mega-cap companies. The company must have positive GAAP net income in the most recent quarter, and the sum of the most recent four consecutive quarters.
• S&P will not waive minimum public float requirements for mega-cap companies. At least 10% of a company's shares must be publicly tradable ("free float").

The S&P rejected proposals that would have:
• Reduced the IPO seasoning period from 12 months to 6 months
• Waived profitability requirements
• Waived minimum public float requirements

[Denise Wu @denisewu]

Free advice: Since this day (June 4, 1989) doesn’t exist in CCP’s eyes. Posting photos from the #TiananmenSquare8964 keeps the Little Pinks out of your business posts.

[Gold Telegraph ⚡ @GoldTelegraph_]

BREAKING NEWS

BLACKSTONE IS RESTRICTING WITHDRAWALS FROM ITS FLAGSHIP BLACKSTONE PRIVATE CREDIT FUND

Watch this closely.

[David Rader @DavidARader]

@rektfencer https://t.co/TUIt2E20N5

[Rekt Fencer @rektfencer]

🚨 WARNING: AI BUBBLE IS ABOUT TO BURST

Microsoft gave OpenAI $13 BILLION.

OpenAI sent it back through Azure.

Microsoft booked it as revenue.

Amazon and Google are running similar loops with Anthropic while marking up huge paper gains from AI valuations.

OpenAI is spending over $60 BILLION a year on compute while generating only $25 BILLION in revenue.

Ray Dalio has warned that late stage bubbles are driven by fake flows, not real economics.

That is exactly what this is starting to look like.

[James Chanos @RealJimChanos]

If true, literally the “Golden Age Of Fraud”.

[Collin Rugg @CollinRugg]

Internet users raise nearly $150,000 for an 85-year-old elderly AMC worker after a video of her working went viral.

Mary Ellen Eron of Maryville, Tennessee, was seen on camera hauling a heavy garbage bag.

"Let’s secretly help retire this beautiful woman. No one deserves to work at this age," said Brooklyn Green, the woman who captured the moment.

"I am overwhelmed and certainly blessed from the Lord and you wonderful people. Thank you," Mary said.

Over 7500 people donated before donations were paused.

[Young Kim @RepYoungKim]

America’s fentanyl crisis is made in China.

The CCP is subsidizing the deadly chemicals killing Americans & sees strategic value in America’s suffering.

No more. I’m working with President Trump to reauthorize fentanyl sanctions & shut down Beijing’s poison pipeline.

[HealthRanger @HealthRanger]

Shocking levels of apparent corruption:

[Sprott Money @SprottMoney]

🚨 “The next stop for silver, technically, is actually $175 per ounce.” — Chris Vermeulen @TheTechnicalTraders

In this latest clip with Craig Hemke, Chris explains why silver's long-term technical setup points to significantly higher prices, while cautioning that a short-term move toward $40 could still happen first before the next major advance. @TFMetals

🔑 Key takeaways:
🔹 Silver's long-term technical target sits near $175 per ounce
🔹 A short-term correction toward $40 remains possible
🔹 Fibonacci extensions suggest substantial upside potential
🔹 Volatility could create opportunities before the next major move

🎥 Watch the full conversation on YouTube – https://t.co/3LLqJCurpj

#Silver #SilverPrice #PreciousMetals #Investing #SprottMoney

[EMPR.media @EuromaidanPR]

All railway traffic across occupied Crimea has been suspended. No gasoline on the peninsula as well. We are closer than you think bastards.

[Visegrád 24 @visegrad24]

Tiananmen Square, June 4th 1989.

[Terence Shen @Terenceshen]

37 years ago today, the Chinese government brutally crushed peaceful protesters in and around Tiananmen Square who were demanding an end to corruption, freedom of speech, and democratic reform. The massacre revealed a truth the world should never forget: the Chinese Communist Party will do whatever it takes to preserve its grip on power. If it did not value the lives of its own citizens, why would it value the lives of others?

[Wall Street Mav @WallStreetMav]

Good news in Texas !!!

[Fox News @FoxNews]

BREAKING: The Trump administration is putting every state on notice in a massive crackdown on Medicaid fraud.

FTC Chairman Andrew Ferguson just announced that Hawaii has been officially decertified for failing to enforce the law and address the fraud problem plaguing the state.

"Everyone is on notice. And today, Hawaii is being decertified for its abject failure to enforce state and federal law to prohibit fraud."

[Isabella Anderson @IsabellaAn67]

Two Japan Coast Guard vessels "crushing" a Chinese Maritime Militia Vessel that had illegally strayed into Japanese territory near Senkaku Islands..

[MAKS 26 🇺🇦👀 @Maks_NAFO_FELLA]

🔥Ukrainian soldiers take air control of Donetsk airport

The occupiers have turned the Donetsk airport into a military-logistics hub and a key launch site for Shahed strike UAVs