The EU is preparing to print money to prevent others from dumping their bonds.
The ECB is expanding its repo facility for foreign central banks.
Instead of selling their EU bonds when they need liquidity, they can pledge them as collateral and receive freshly printed EUR.
Just what Bessent is planning for Japan...
It's not just the US bond market that's blowing up... It's almost the entire developed world.
The EU and Japan were the poster children for NIRP... negative interest rate policy.
Now rates have surged from negative territory to multi-decade highs...
Their bonds are getting hammered.
Meanwhile, most EU member states are running deficits... They can't afford higher rates.
The path to YCC across the developed world becomes more obvious by the day.
We all don't own enough gold.
China Completes Construction of the World's Largest Fusion Magnet
China has completed the construction of the world's largest fusion magnet, a significant step towards mastering controlled thermonuclear fusion technology. This refers to a toroidal magnet with a length of 21 meters and a weight of 582 tons, entirely developed using Chinese technology. Following successful testing, the devices have been declared ready for use. Their purpose is to contain plasma at temperatures exceeding 100 million degrees Celsius and initiate a stable fusion reaction. The creation of these magnets addresses approximately 80% of the most complex engineering challenges of the project. Assembly of the reactor is scheduled for 2027, and the first demonstration of energy generation is expected by 2030.
🚨🇩🇪 GERMAN ICON PORSCHE IS COLLAPSING!
Porsche is CUTTING 8,900 jobs after profits TOTALLY PLUMMETED!
Disastrous EV pushes, crumbling China sales, and insane costs are WRECKING German industry.
Yet another historic brand RUINED by the "green transition".
BREAKING: 🇨🇳 China begins mass production of homegrown DUV chipmaking tools known as the lithography machines, marking a major breakthrough for its semiconductor industry, per the Information
China was heavily dependent on the Netherlands, specifically on the Dutch company ASML, for advanced lithography machines.
The shortage of interceptor missiles has reached such a level that American commanders in the Middle East are choosing which Iranian missiles to intercept and which to let pass.
Two high-ranking American officials told NBC News that, as the Pentagon's stockpile of interceptors continues to dwindle, commanders are making decisions to use the weapons only in cases where there is a threat to American troops. Everything else – missiles aimed at empty runways, radar stations, fuel depots, and allied facilities – is not being intercepted.
Replacing the "Patriot," "THAAD," and SM series interceptors takes years, and the cost of Iranian missiles is only a small fraction of the cost of intercepting them, NBC notes. It also points out that Washington is secretly limiting the use of its own air defense system in a war in which, it claims, it is winning.
🇪🇺‼️🚨 FIRES ACROSS EUROPE:
France and Spain have been engulfed by forest fires.
The area in France has broken a historical record, reaching the 100,000-hectare mark, the country's Interior Minister Nunez announced.
The most severe situation has developed in the southwest of France, where the fire has approached the suburbs of Bordeaux.
More than 141,000 people were evacuated.
Residents and tourists from the Cap-Ferret peninsula had to be evacuated by ferries and water taxis, as the flames approached the only road leading to safety.
French military and aviation from other EU countries were deployed to extinguish the fires.
In Gironde, the fire destroyed about 19,000 hectares and dozens of houses, and more than 40 firefighters were injured.
In Spain, major fires have engulfed territories between Madrid and Avila, covering more than 15,000 hectares.
A new heatwave is incoming, so it’s about to get worse.
🇮🇷 NEW: Iran's Armed Forces to Persian Gulf Countries:
"We warn Citizens of the Persian Gulf Countries to stay 500 Meters Away from Civilian locations where American Troops are staying as they have Left their Military Bases"