The Federal Reserve Sees “First Evidence” of Stablecoin Destabilization of the Banking System

Our newsletter has repeatedly warned that stablecoins, by luring depositors away from banks, would destroy bank credit. Now, the alarm has been sounded by central banks. A new study by the Federal Reserve of New York documents that stablecoins “erode banks’ deposit franchises” and “impact bank lending”. Not only that, they “also transmit liquidity stress to the banking system”. The […]

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Artificial Intelligence and the Military-Industrial Complex

Artificial Intelligence is much more integrated into defense policies of the major powers than one might think, despite its obvious shortcomings. The danger of relying on such technologies in the real world was just recently underscored in a series of “war scenarios” run by Professor Kenneth Payne of King’s College, London. The study placed three leading AI models – GPT-5.2, […]

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How Nations Can Become Food Self-Sufficient, the Example of China

Another record in grain production was broken in China in 2025, with nearly 15 million tons more produced than the record over 700 million tons it had reached in 2024. Thus, the country’s per-capita grain availability rose to over 500 kilograms per year, despite “complex global geopolitics and mounting economic pressures” worldwide, as the Global Times editorial put it on […]

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Sitting on a Volcano Is Not a Safe Place to Be…

Will the United States launch an attack on Iran in the next days? Will it be with limited or massive strikes? These are the questions strategists are asking themselves. As usual with U.S. President Trump, there is no predictable answer. If the attack does take place, all indications are that it will have incalculable consequences (cf. below). While the conflict […]

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Will a U.S.-Iran Showdown Be Averted?

As it stands as of this writing, U.S.-Iran negotiations are to be resumed again on Feb. 26 in Geneva, with the participation of Steve Witkoff and Jared Kushner, after Tehran has produced a written compromise proposal. President Trump has said his decision on whether or not to attack Iran “massively” will depend on the outcome of those talks. Meanwhile, the […]

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China Offers German Industry a Way out of Deindustrialization

During Friedrich Merz’s visit to China Feb. 24-26, he is accompanied by a delegation of some 30 leading CEOs of German industry. This alone indicates the importance of German companies’ interest in China, which was marked by a 55% increase in direct new investments during 2025, reaching a total of seven billion euros. And that, in turns, shows that the […]

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