All in all, this was yet another predictably ugly auction—hardly a shocker. Turns out, more and more investors, those not hypnotized by Donald Copperfield’s tariff theatrics or spoon-fed Wall Street’s “financially interested” advice, are starting to grasp a sobering truth: the so-called “risk-free” asset isn’t so free anymore. Especially for those unwilling to kneel before the new gospel of Trumperialism.

While August unfolds with its secular war cycles, on the Eastern front of the bankrupt empire, the European vassals have once again answered the call of their transatlantic overlords. Under a glorious new North Atlantic Terror Organization (aka NATO) initiative, $1 billion in tribute will be sent to Washington’s arms merchants—because nothing screams peace like more missiles. The Dutch regime proudly pledged $576 million for US Patriot systems to defend Ukraine, while the loyal comrades of Sweden, Denmark, and Norway chipped in another $500 million to prove their unwavering obedience.

Glory to the military-industrial complex. Peace through perpetual escalation.

https://militarnyi.com/en/news/us-and-nato-launch-purl-program-to-boost-military-aid-to-ukraine/

Welcome to the new Politburo of Peace: the Priority Ukraine Requirements List—PURL for short—where Ukraine drafts its imperial Christmas list and NATO’s Supreme Allied Commissar dutifully rubber-stamps it.

No votes, no debates—just direct delivery from Raytheon’s workshop to the frontlines.

All in the name of defending "freedom''.

When a country starts floating rumors about printing $500 bills, it’s safe to say inflation has moved out of the textbooks and into the checkout line. Word on the street is the U.S. might resurrect the $500 bill—last seen during Nixon’s gold window shutdown—this time swapping out McKinley for Donald Copperfield, the man who can make deficits disappear (with applause, not math). Rep. Paul Gosar floated the idea in 2024, possibly as a joke, or worse, as policy.

While Congress probably won’t slap Trump’s face on a note anytime soon, inflation might do the convincing. After all, we’ve already fired the penny for being too broke to matter.

The official story? Big bills help criminals. The unofficial story? So does government spending.

https://www.foxbusiness.com/politics/house-republican-proposes-put-president-trump-500-bill

Collectors know the U.S. once went big—really big. The Treasury used to issue $1,000, $5,000, $10,000, and even a whopping $100,000 bill. That last one, starring Woodrow Wilson, was a gold certificate printed between 1934 and 1935—strictly for backstage use. No regular Joe was buying groceries with Wilson’s golden face.

The $10,000 note? Just a pre-digital IOU between Federal Reserve Banks. Back then, moving capital meant paper, not pixels.

A new $500 bill would echo Rome’s final days—when debased coins signalled collapse. It’s not just inflation talking; it’s a loss of faith in the dollar.

In today’s economy, even $100 barely buys dinner, and cash is becoming more nuisance than currency. The Fed isn’t printing $500 notes (yet), but as inflation erodes value and digital money takes over, don’t be surprised if a flashy new bill shows up—more for show than spending.

What a brilliant timing—just as the world starts crawling out of the COVID “plandemic” swamp, Japanese researchers decided it was the perfect moment to cook up a new viral cocktail. Meet Vac-3, their Frankenstein creation, stitched together from two separate wild bird flu strains: A/duck/Hokkaido/101/2004 (H5N3) and A/duck/Hokkaido/262/2004 (H6N1). Because clearly, what humanity needs most right now is another lab-modified virus with pandemic potential. Nothing says "public health" like playing genetic roulette with pathogens.

https://www.nature.com/articles/s41541-025-01221-x

Nothing to see here—just Japanese scientists playing viral LEGO with bird flu strains never found in nature. They cooked up Vac-3 in a lab, hatched it in eggs, dunked it in formalin, and called it a “vaccine” after it jolted monkey immune systems into overdrive. Meanwhile, over in the U.S., NIH-funded researchers were busy building bird flu viruses that killed every mammal they touched—because apparently, “gain-of-function” is fine as long as you don’t call it that. They even infected live dairy cows under a $59 million federal contract, which, shocker, is also linked to building drug-resistant strains.

https://jonfleetwood.substack.com/p/nih-funded-georgia-researchers-create

But wait, there’s more: Japan and the U.S. are also teaming up to create horse-human flu hybrids that replicate like a virus on Red Bull—using aborted fetal cells spliced with cancer-linked SV40. All of this is being done under the noble guise of “vaccine research,” while conveniently forgetting that Congress, the FBI, and even the CIA have already pointed fingers at a lab leak as the likely origin of COVID.

But sure—let’s keep rolling the dice with bioengineered Frankenviruses that don’t just “train” your immune system, they rewrite its entire playbook.

https://jonfleetwood.substack.com/p/japan-wisconsin-team-builds-100x

Nothing says “well-oiled central bank machine” like the Bank of England needing two rounds of voting just to shave rates by a quarter point—because apparently stagflation isn’t dramatic enough without adding a game show twist. First, the MPC delivered a three-way split so messy it made Parliament look decisive, then coaxed one member to switch teams in round two so they could finally present a “majority” decision. All this to land on 4%, while warning the public—very gravely, of course—that cuts must be “gradual and careful.” Translation: we’ll inch forward at a snail’s pace while the economy gasps for air, but at least we’ll look measured doing it in the inevitable incoming inflationary bust.

In a nutshell, the Bank of England just staged the first-ever two-round rate cut drama, trimming to 4% in a stagflation soap opera of split votes and cautious hand-wringing.

The U.S. Treasury wrapped up its weekly refinancing marathon by offloading $25B in 30-year bonds at 4.813%—a smidge better than July’s 4.889%, but still 2.1 bps worse than the 4.792% WI, giving us the biggest “oops” tail since last August.

The bid-to-cover came in looking like it just rolled out of bed—2.266% vs. 2.383% last time, the weakest since November 2023 and well under the six-auction average.

Indirects? Also hitting snooze, slipping to 59.5% from 59.8%, their second-lowest showing since 2021. Directs chipped in a meh 23.03% (down from 27.40%), leaving Dealers stuck holding a chunky 17.46%—their biggest bag to carry since August 2024.

Bottom line: the week’s final coupon auction was a real beauty—if you’re into train wrecks—as more investors seem to be catching on to the Manipulator-in-Chief’s magic trick that the “risk-free” asset now comes with a side of risk, especially with the war cycle cranking up.

In true Orwellian fashion, the EU plans to mandate messaging apps like WhatsApp, Signal, and Telegram to scan every message, photo, and video—even those protected by end-to-end encryption—starting October. This “client-side scanning” invades users’ devices before encryption, turning private chats into government-read letters before sealing. Under the guise of fighting child abuse, it targets ordinary citizens, exposing all digital conversations to automated surveillance and ending online privacy. Coupled with forced age verification, anonymity will vanish. Digital freedom advocates urge resistance before this Orwellian law becomes permanent.

Denmark revived the proposal on July 1, kicking off its EU Council presidency, with France—once opposed—now backing it, according to Patrick Breyer. Belgium, Hungary, Sweden, Italy, and Spain also support the plan, while Germany remains undecided. Should Berlin join, a qualified majority—requiring 15 of 27 states and 65% of the EU population—could push the measure through by mid-October.

https://x.com/wilderko/status/1952358174717006237

Because nothing screams “privacy” quite like the EU turning your encrypted messages into government-read postcards—arriving this October, courtesy of the enthusiastic bureaucrats from Brussels.

While the world was getting ready of being “tarrified” in July, China’s exports jumped 7.2%—because nothing fuels trade like panic-buying ahead of yet another tariff deadline that everyone knows will just get kicked 90 days down the road.

China’s latest customs data dropped just as Donald Copperfield’s century-high tariffs hit everyone from India to Switzerland—though not China (yet), thanks to a 90-day truce that’s about to should be… surprise! Extended another 90 days. Still, US-China trade is already limping, with July exports to the US down 22% year-on-year, proving that even in ceasefire mode, the trade war still packs a punch.

While exports to the US keep sinking, China’s shipments to Southeast Asia are booming—thanks in no small part to the art of “transshipment,” where goods take a scenic detour through places like Vietnam before quietly finding their way to American shores.

So, in classic trade-war theater, Donald Copperfield slapped a 40% tariff on anything that so much as sneezes near a transshipment route—though no one can quite define what that means—while still leaving loopholes big enough to sail a container ship through. Vietnam keeps cashing in, China keeps dodging, and the “America First” chip tariffs somehow managed to tank the only American company manufacturing in the US while making foreign rivals richer.