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Tue, 28 Apr 2026 19:40:00 +0000 Trump Belatedly Blasts Merz Over Pointed Iran War 'Humiliation' Remarks
Trump Belatedly Blasts Merz Over Pointed Iran War 'Humiliation' Remarks
President Trump on Tuesday belatedly hit back at Chancellor Friedrich Merz after on Monday the German leader told students in a talk that the United States is
Read more.....
Trump Belatedly Blasts Merz Over Pointed Iran War 'Humiliation' Remarks
President Trump on Tuesday belatedly hit back at Chancellor Friedrich Merz after on Monday the German leader told students in a talk that the United States is being “humiliated” by Iranian leaders, amid struggling on-and-off negotiations, and as a crisis in the Strait of Hormuz shows no signs of de-escalating.
Merz had said he didn’t see "what strategic exit the Americans are now choosing" while simultaneously describing that Tehran’s negotiators are proceeding "very skillfully - or indeed very skillfully not negotiating."
The result, Merz had said, is that an "entire nation is being humiliated by the Iranian leadership, particularly by these so-called Revolutionary Guards." The unusually blunt and direct anti-Trump commentary by the German Chancellor was given before a group of students at a secondary school in western Germany on Monday.
Throughout Monday, the media expected Trump to quickly lash back out, but that didn't come quickly. It's possible that he hadn't seen the Merz remarks, however. But by Tuesday afternoon, Trump complained on Truth Social that Merz apparently "thinks i's OK for Iran to have a nuclear weapon" and that he "doesn't know what he's talking about!"
He continued with the following jab, echoing a broader critique of other European allies as well: "No wonder Germany is doing so poorly, both Economically, and otherwise!"
Merz in his original attack on Trump's Iran war decision had claimed, "If I had known that it would continue like this for five or six weeks and get progressively worse, I would have told ?him even more emphatically." ? And yet the criticisms from EU leaders in the opening days were somewhat muted, meager, and weak.
Responsible Statecraft's Trita Parsi is also a deep Iran war critic, but agrees that the hypocrisy of EU leaders needs to be called out. Parsi writes :
Merz isn't wrong in saying he's "disillusioned" with the US & Israel over Iran because they "claimed at the beginning that they could solve this problem within days. Now I must recognize: It is not solved." But he is in no position to complain. He applauded the war and as a result, owns the outcome . This is typical of some EU leaders who support and help facilitate the US's worst instincts, and then pretend they are innocent when the foreign policy adventure predictably goes wrong.
The comments underscore several European leaders’ reassessment of their relations with Trump. A tendency to smooth ties by currying favor has given way to a more sober perspective of a U.S. president who has repeatedly called into question NATO , bolstered European far-right forces and threatened to seize Greenland, a territory of Denmark.
Regardless, the fresh critique by a leading EU head of state is certainly going to add fuel to the fire of Trump's ratcheting anti-EU and anti-NATO rhetoric, given their absence in helping the US get the Strait of Hormuz back open and the return to normal functioning of global energy transit once again.
via Associated Press
But Trump's own words have been confusing for allies to say the least - on the one hand lambasting them for not joining a US-led coalition, but then sometimes in the same breath declaring that Washington does not 'need their help'. Naturally this enables uncertain fence-sitting allies to shrug and say simply, this is "not our war" - as the lead European powers are doing.
Tyler Durden
Tue, 04/28/2026 - 15:40 Close
Tue, 28 Apr 2026 19:00:00 +0000 US Farmers Are Facing Two Historic Catastrophes At The Same Time In 2026
US Farmers Are Facing Two Historic Catastrophes At The Same Time In 2026
US Farmers Are Facing Two Historic Catastrophes At The Same Time In 2026
Authored by Michael Snyder via End Of The American Dream ,
This is the worst of times for U.S. farmers. Coming into 2026, we were already in the midst of the worst farming crisis in at least 50 years. Now the war in the Middle East has caused fertilizer prices to go absolutely haywire, and a historic drought has created nightmare conditions for farmers from coast to coast. What we are witnessing is truly unprecedented. One recent survey discovered that 70 percent of U.S. farmers won’t be able to afford all of the fertilizer that they need this year. When have we ever seen that happen before? And some farmers are telling us that they may not plant anything at all this year due to extreme drought. If the information in this article shocks you, that is good, because we all need a major league wake up call right now.
The Strait of Hormuz is the most important chokepoint on the entire planet, and as I write this article there are hundreds of commercial vessels on both sides of the Strait that are unable to travel through it …
Hundreds of commercial tankers are stranded on both sides of the Strait of Hormuz after Iran shut the critical chokepoint on April 18, halting traffic and leaving crews trapped amid reports of gunfire and “traumatic experiences” on board.
The Strait of Hormuz is considered an international waterway under international law, through which ships have the right of transit passage, according to the United Nations Convention on the Law of the Sea (UNCLOS).
Approximately one-third of all globally-traded nitrogen fertilizer normally travels through the Strait of Hormuz , and nations all over the globe use natural gas that is exported through the Strait of Hormuz to make their own nitrogen fertilizer.
So the fact that the Strait of Hormuz is closed is a really big deal, because without sufficient quantities of nitrogen fertilizer we do not have any hope of feeding the entire planet …
The connection is simple, agricultural fact, not speculation: reduced fertilizer application directly translates to plummeting crop yields. Modern industrial agriculture is utterly dependent on synthetic nitrogen, a product of the Haber-Bosch process which itself requires immense amounts of natural gas [3] . With the Strait of Hormuz closed and LNG infrastructure attacked, the feedstock for this process is becoming scarce and prohibitively expensive. As one analysis starkly put it, half the world’s nitrogen supply is now compromised, threatening global agriculture [4]. This isn’t a theory; it’s chemistry and logistics.
The coming scarcity will not manifest as a gradual, manageable price increase. It will be a sudden, severe shortage hitting supermarket shelves. The system has no slack. As farmers face soaring costs for diesel and natural gas, many are reducing planting or cutting back on fertilizer application, which threatens global grain yields [5]. The recent failure of a critical Australian ammonia plant, exacerbating the global crisis, is just one more domino falling [6]. We are witnessing a cascading failure.
This crisis exposes the fatal fragility of our centralized, just-in-time food system, built for corporate efficiency but not for human resilience . It is a house of cards. As noted in studies of agricultural systems, when trade collapses and scarcity of inputs occurs, yields fall drastically [7]. Our entire civilization is balanced on this vulnerable, centralized point of failure. The system is designed to move commodities for profit, not to ensure communities are fed. When the just-in-time model fails, it fails completely, leaving nothing in the pipeline.
Since the war with Iran began, fertilizer prices have been going parabolic.
I shared a chart that proves this last week, and I am going to share it again today…
Needless to say, rising fertilizer costs are going to get passed along to consumers.
That means that all of us are going to be paying significantly higher prices at the grocery store in the months ahead…
Americans worried about grocery prices may soon feel the consequences of an unexpected problem on U.S. farms caused by the war in Iran – rising fertilizer prices are creating a potential ripple effect that could reach grocery stores.
Why? The American Farm Bureau Federation cited the virtual closing of the Strait of Hormuz as the main reason fertilizer prices are increasing . Roughly one-third of global seaborne fertilizer trade passes through the strait, according to the United Nations.
At least 70% of farmers say they can’t afford all the fertilizer they need because of higher costs tied to the Iran war - a challenge that could lower crop yields, which, if widespread enough, could push food prices upward.
Unfortunately, U.S. farmers are facing another enormous crisis in addition to absurdly high fertilizer prices.
I have written quite a bit about the horrendous drought that is currently plaguing much of the nation.
If you can believe it, over 61 percent of the U.S. is currently experiencing at least some level of drought…
With drought stretching from coast to coast, water restrictions are already in effect in many states even before the thirsty summer season begins. Indeed, more than 61% of the nation is now in a drought, the highest percentage in nearly four years, according to the most recent U.S. Drought Monitor.
In all, 45 of 50 states are enduring drought, with only Alaska, North Dakota, Michigan, Connecticut and Rhode Island completely drought-free.
We are only in late April.
So what will conditions be like once we reach July and August?
In Colorado, the entire state is currently experiencing at least some level of drought, and this is “pummeling Colorado farmers” …
This year’s record-warm, dry spring is pummeling Colorado farmers amid multiple threats, disrupting the state’s $9 billion agricultural sector and jeopardizing even signature crops such as Pueblo green chiles, Olathe sweet corn and Palisade peaches.
Water scarcity, due to exceptionally low mountain snow and soil-drying heat, looms foremost.
To say that farmers in Colorado desperately need rain would be a massive understatement.
One farmer that was recently interviewed by a local news outlet openly admitted that if it doesn’t start raining soon he isn’t going to plant anything at all this year…
“If we don’t get moisture, I’m not going to plant,” said chile grower Praxie Vigil, who runs Vigil Farms along the Bessemer Ditch, a 43-mile irrigation canal that once nourished crops across 20,000 acres east of Pueblo. He was planning to decide this weekend.
“It’s not looking good for any of us. Usually, I just plant and hope for the best. But this year, I’m not going to. This is bad. I can barely water 20 acres,” said Vigil, who works a side job as a pipe-welder to make ends meet.
Farmers all over America are facing some very difficult choices in 2026.
Of course the same thing could be said about farmers all over the world.
Global weather patterns have been going absolutely nuts, and now the worst fertilizer crisis in history is upon us.
At this moment we are still eating food that was grown last year.
But six to nine months from now, a global food shock is going to hit us like a freight train .
We should certainly hope for the best, but it would also be wise to prepare for the worst.
Tyler Durden
Tue, 04/28/2026 - 15:00 Close
Tue, 28 Apr 2026 18:40:00 +0000 Comey Indicted As Trump DOJ Takes Second Bite At The Apple
Comey Indicted As Trump DOJ Takes Second Bite At The Apple
The U.S. Department of Justice has secured a new federal indictment against former FBI Director James Comey , marking the second criminal case brought agains
Read more.....
Comey Indicted As Trump DOJ Takes Second Bite At The Apple
The U.S. Department of Justice has secured a new federal indictment against former FBI Director James Comey , marking the second criminal case brought against him by the Trump administration in under a year. The charges center on a controversial May 2025 Instagram post in which Comey shared a photograph of seashells arranged on a beach to form the numbers "86 47."
According to CNN , citing multiple sources familiar with the matter (who ran to CNN to leak the news), the indictment was returned by a grand jury in the Eastern District of Virginia. It comes after the Justice Department’s first case against Comey-filed in September 2025 and charging him with making false statements and obstructing a congressional proceeding related to his 2020 Senate testimony-was dismissed late last year. A federal judge ruled that the interim U.S. Attorney who brought those charges had been improperly appointed without Senate confirmation.
So - the guy acts as Obama and Hillary Clinton's hatchet man to frame Trump and they're going after the seashell thing... right.
The Seashell Post at the Center of the New Case
The new indictment revives scrutiny of a social media post that ignited intense backlash last spring. On May 15, 2025, Comey posted a photo on Instagram showing seashells lined up to spell "86 47," captioned simply: "Cool shell formation on my beach walk."
The numbers quickly drew sharp criticism from Trump allies. "86" is longstanding slang-commonly used in restaurants to mean "get rid of," "remove," or "toss out"-while "47" is widely understood as shorthand for President Donald Trump, the 47th president. Homeland Security Secretary Kristi Noem at the time called the post a call for Trump’s assassination and announced a Secret Service investigation. Director of National Intelligence Tulsi Gabbard publicly suggested Comey should be "put behind bars."
Comey deleted the post the same day and issued an apology on social media, writing that he had assumed the shells represented "a political message" but "didn’t realize some folks associate those numbers with violence." He added: "It never occurred to me but I oppose violence of any kind so I took the post down." He later told interviewers that he and his wife had simply noticed the formation during a beach walk in North Carolina and saw it as a quirky, possibly restaurant-themed joke.
The Secret Service interviewed Comey for several hours in Washington, D.C.-an uncommon step for what many legal observers described as a non-specific social media image.
Political and Legal Context
The indictment represents a renewed push by Acting Attorney General Todd Blanche and the Trump Justice Department to pursue cases against high-profile political opponents. Comey has been a frequent target of President Trump since his firing in May 2017 amid the Russia investigation. Trump has repeatedly accused Comey of helping to "weaponize" the justice system against him and has publicly called for his prosecution.
Legal experts have long expressed skepticism that charges tied to the seashell post would survive constitutional scrutiny. First Amendment protections for political speech are broad, and courts have set a high bar for prosecuting ambiguous or hyperbolic statements as true threats or incitement (see Brandenburg v. Ohio and subsequent true-threat cases). Many analysts viewed the original May 2025 controversy as protected edgy commentary rather than a direct call to violence-especially given Comey’s immediate deletion and clarification.
The first indictment’s dismissal on procedural grounds had already drawn accusations of sloppy or overly aggressive prosecution from critics. Today’s development suggests the administration is undeterred and willing to test the legal waters again with a different set of charges.
Tyler Durden
Tue, 04/28/2026 - 14:40 Close
Tue, 28 Apr 2026 18:35:00 +0000 First Loaded Crude Supertanker Clears Hormuz Without Using Larak Channel
First Loaded Crude Supertanker Clears Hormuz Without Using Larak Channel
First Loaded Crude Supertanker Clears Hormuz Without Using Larak Channel
Summary:
Idemitsu Maru did not use Larak Channel
Loaded Idemitsu Maru crude supertanker exited Hormuz this afternoon, marking the first such crude transit since the conflict began.
Loaded Mubaraz LNG tanker exited Hormuz earlier this month, also marking the first such LNG transit since the conflict began.
Polymarket
First Crude Supertanker Exits Hormuz
Following the Mubaraz LNG tanker's exit from the Hormuz chokepoint in recent weeks, the first such transit since the conflict began, new ship-tracking data from Bloomberg late Tuesday afternoon show that the first crude supertanker, Idemitsu Maru, is also exiting the critical waterway.
Idemitsu Maru, operated by the tanker unit of Japan's Idemitsu Kosan, marks yet another positive signal for Gulf energy flows, but activity in the waterway remains deeply depressed.
Two key things we must point out : first, the tanker is through; second, the tanker did not transit the Larak Channel , the northern passage through the critical waterway near Iran's Larak Island, close to Qeshm Island.
First Loaded LNG Tanker Clears Hormuz; First Crude Supertanker Attempts Exit
While all the attention has been focused on President Trump's national security team reviewing an Iranian peace deal that would end the two-month war and reopen the Hormuz chokepoint, while deferring nuclear negotiations to a later date, new vessel-tracking data show that the first loaded LNG tanker has exited the critical waterway since the conflict began, while the first loaded crude supertanker is also attempting to exit.
"The first LNG shipment since the war in Iran began two months ago appears to have slipped through Hormuz," Bloomberg's Stephen Stapczynski wrote in an overnight post on X.
Stapczynski also noted that the Mubaraz LNG tanker was loaded at ADNOC's Das Island facility in Abu Dhabi in early March and turned off its transponder around March 31, only reappearing west of India on Monday.
The latest ship-tracking data from Bloomberg shows that Mubaraz is approaching the southern tip of Sri Lanka, with the vessel signaling China as its port of call.
A separate report from Bloomberg's Weilun Soon identified yet another tanker, this time a Japan-linked supertanker loaded with crude, attempting to become the first crude-laden vessel to exit Hormuz since the war began.
The Idemitsu Maru, operated by the tanker unit of Japan's Idemitsu Kosan, left its holding position near Abu Dhabi late Monday and appears to be exiting the Hormuz chokepoint early Tuesday, according to Bloomberg ship-tracking data.
Both transits are significant. Taken together, they may indicate that a U.S.-Iran framework to end the war and reopen the critical waterway is nearing execution, or that countries such as China and Japan are beginning to see a pathway toward de-escalation.
The latest Polymarket odds of Hormuz traffic returning to normal by May 15 stand at around 15%.
Strait of Hormuz traffic returns to normal by May 15?
Yes 14% · No 86%View full market & trade on Polymarket Latest Hormuz flows via UBS:
Oil & gas tankers passing through Hormuz
Oil & gas tankers exiting Hormuz
All great news.
Tyler Durden
Tue, 04/28/2026 - 14:35 Close
Tue, 28 Apr 2026 18:00:00 +0000 Four Nuclear Companies Selected For High-Speed Project Development
Four Nuclear Companies Selected For High-Speed Project Development
Four Nuclear Companies Selected For High-Speed Project Development
After the wild success experienced by multiple companies under the Department of Energy's Reactor Pilot Program (RPP) and Fuel Line Pilot Program (FLPP), four new fuel chain and reactor development companies have been selected under the Nuclear Energy Launch Pad (NELP).
The NELP is the combined successor program to the RPP and the FLPP. The program provides “streamlined pathways for developers wanting to demonstrate advanced nuclear energy technologies and accelerate commercial deployment ”.
Some of the reactor developers under the RPP have gone from chalkboard to fully constructed microreactors preparing for going critical in just over a few months , leading to multiple other companies begging for ways to also harness the DOE’s lightning track.
Four companies were selected under the initial round of NELP participants: General Matter, Radiant Nuclear, Deployable Energy, and NuCube Energy. NuCube is entering the program in partnership with Idaho State University.
General Matter is the only non-reactor developer in the program. They are working to build out new uranium enrichment capacity in the country, amid the United States's current reliance on imports from countries like Russia and domestic production controlled by European nations .
Radiant Nuclear is currently progressing a project under the RPP with this new effort under the NELP likely building on the project. After Radiant’s testing is done at the INL DOME, they will likely transition to a different location, either at INL or another DOE-controlled area, to deploy the next iteration of their Kaleidos reactor or work on a yet-to-be-announced design.
Deployable Energy and NuCube Energy are some of the newer entries into the reactor development startup space. Both companies are working on microreactor designs for remote applications, military applications, and potential use for critical loads, including data centers.
Deployable’s design is the Unity Nuclear Battery , a 1 MW high-temperature gas-cooled reactor. NuCube has yet to provide a lot of details as to what their "Deccacell " project is, but a previous filing with the Nuclear Regulatory Commission indicates it may be a heat pipe design similar to designs from Antares Nuclear and Westinghouse.
Tyler Durden
Tue, 04/28/2026 - 14:00 Close
Tue, 28 Apr 2026 17:25:00 +0000 Iran To Send Revised Proposal To US In 'Days' As 'Tank Tops' Loom, Trump Claims Iran "Informed Us They Are In State Of Collapse"
Iran To Send Revised Proposal To US In 'Days' As 'Tank Tops' Loom, Trump Claims Iran "Informed Us They Are In State Of Collapse"
Iran To Send Revised Proposal To US In 'Days' As 'Tank Tops' Loom, Trump Claims Iran "Informed Us They Are In State Of Collapse"
Summary
Trump TS claim: Tehran has informed Washington they are in a "state of collapse" and that the Iranians want the US to "open the Hormuz Strait" - as 'tank tops' loom .
Trump doesn't appear open to Iran's proposal which hinges on US naval blockade ending & nuclear issue being pushed to future negotiations (CNN). Tehran working on revised plan to be sent in 'few days' .
First crude-laden Japanese tanker from Saudi port exits Hormuz Strait successfully without Iranian interference.
Iranian analyst describes that Tehran believes it can outlast Trump & the standoff with US in Hormuz, citing "munitions, markets, and the midterms."
Will Donald Trump announce that the United States blockade of the Strait of Hormuz has been lifted by May 31, 2026?
Yes 66% · No 34%View full market & trade on Polymarket * * *
Revised Plan Coming in 'Next Few Days'
So at least there is some back-and-forth. Trump is said to have rejected an initial proposal from Iran, which centered on the US opening up the strait, but pushes the nuclear issue to future talks - and only after an end to the war. Tehran is reportedly revising, and is expected to submit a revised draft deal in the coming days. CNN has the latest in the following:
Mediators in Pakistan expect to receive a revised proposal from Iran in the next few days to end the war, after US President Donald Trump indicated that he would not accept an earlier version, sources close to the mediation process told CNN. The sources say Iranian Foreign Minister Abbas Aragchi was due back in Tehran today after a visit to Russia, adding that he is expected to consult with regime leaders. That process is slow, the sources say, because of the difficulty in communicating with Supreme Leader Mojtaba Khamenei, whose location is being kept secret .
Currently there's much speculation and armchair quarterbacking regarding 'hardliners' vs 'moderates' in Iran and who is actually in charge, amid reports the IRGC doesn't want engagement with untrustworthy Washington at all. Meanwhile there's no question Iran is using the extended ceasefire interim to rearm and regroup militarily .
Trump claims Iranians in 'State of Collapse'
Literally one minute before market-open, and President Trump issues the following big claim: he says that Tehran has informed Washington they are in a "state of collapse" and that the Iranians want the US to "open the Hormuz Strait". Of course, even if it were true, why would the Iranians admit such a thing to their enemy during a state of war?
There have been some signs of political fracture - especially tensions between IRGC and civilian leadership - but so far the evidence has been anecdotal at best. Currently the internal Iranian government debate seems to be on whether to talk to the US or not - but again, amid the fog of war... all Western MSM can do is speculate, aside from the rare Iranian 'anonymous' source that might whisper in a reporter's ear.
Oil Rises to 3-week High as Trump Doesn't Appear Open To Iran Proposal
Reporting from Monday evening and overnight says President Trump doesn't appear open to Iran's latest proposal to end the war, which hinges on the US naval blockade being lifted but pushes the nuclear issue off to later negotiations. As a result, oil prices have continued to rise, climbing above $110 a barrel Tuesday morning - a first in three weeks, amid concerns of a prolonged strait closure. As for the latest tankers to actually make it through, CBS describes :
Four civilian ships appeared to leave the Persian Gulf through the Strait of Hormuz on Tuesday without Iranian interference, including a Japanese oil tanker carrying some two million barrels of crude from Saudi Arabia .
The Panama-flagged crude oil tanker Idemitsu Maru called at Saudi Arabia's Juamyah industrial port in early March, according to open source data from the MarineTraffic ship tracking website. For the past week it had remained anchored off the coast of Abu Dhabi in the Persian Gulf, until late Monday, when it sailed toward Iran's Larak island in the Strait of Hormuz.
On Tuesday morning, tracking data showed the vessel passing south of Iran's Larak island , which analysts say the regime had used as a "toll booth" to collect fees from some ships before military authorities declared the strait entirely closed again last week.
The White House has insisted that there would be no scheme for Iran collecting tolls as part of any future deal, but the Iranians appear to be forcing the issue, and have said the funds will help with the country's reconstruction after the devastation wrought by US-Israeli bombing raids.
via Reuters
Three M's
Independent news organization Drop Site says that Iran is now setting its own terms for ending the war as President Trump's narrative on negotiations flails. One Iranian analyst has said that Tehran believes it has the three M's on its side : "munitions, markets, and the midterms."
The report cites Hassan Ahmadian, a well-known Iranian analyst and associate professor at the University of Tehran, who explains: "The Iranians are saying time is working in our favor for the three Ms: munitions, markets, and the midterms. These three Ms help Iran in its position and weaken US positions."
"Obviously in the U.S., they want something to say, 'We squeezed Iran and we got this.' My perception is that the Iranians are keen to deny the United States that - they wouldn't give what Trump wants as a victory ," he added.
A separate Iranian official, privy to negotiations and so remaining anonymous, stated: "We’re currently moving forward with our own design, and we feel continuing negotiations doesn’t make sense until the U.S. government lifts the maritime blockade."
"The scope of the conflict has expanded, and naturally the issue is no longer purely nuclear," the official added. Indeed, the latest proposal for ceasefire out of Tehran focuses on the US Navy ending its blockade, and leaves the nuclear issue for future consideration, given it has proven an impasse in the prior Islamabad talks.
But Washington as been asserting its own leverage :
'Tank Tops' Loom
President Trump explained - in his own inimitable manner - what we described last week : time is running out for Tehran... as oil blockade stalls the flow state of Iran's economy permanently...
Trump told Fox News on Sunday that the US blockade on traffic to and from Iranian ports is putting major pressure on the country's export infrastructure:
“When you have, you know, lines of vast amounts of oil pouring through your system, if for any reason that line is closed because you can’t continue to put it into containers or ships, which has happened to them — they have no ships because of the blockade — what happens is that line explodes from within , both mechanically and in the earth."
“It’s something that happens where it just explodes . And they say they only have about three days left before that happens. And when it explodes, you can never, regardless, you can never rebuild it the way it was.”
As Hugh Hendry noted , time is running out for Iran:
"Iran’s oil system is not built to pause. It’s built to flow. It’s a flow system.
Oil cannot simply sit in the ground while strategists argue over maps and how much uranium dust to give over. It has to move. Iran and its system has to move continuously from the rock underground to the tanker in the harbor to the Chinese buyer in Asia.
Pause long enough, and the whole machine breaks.
Interrupt that flow. And the problem isn’t just lost revenues of like forty, fifty, sixty billion dollars. It’s the least of your concerns. The problem is physical and is irreversible.
Because when you suddenly shut the well, remember there’s no physical storage. They pump, they load, they ship.
If they can’t load, if they can’t ship, they can’t pump. And when you suddenly shut the wells, the pressure underground drops fucking fast.
Do you know what happens?
The heavy, sticky crap in the oil, it gums up, gums up in the tiny holes within the rocks and becomes like glue. It traps the oil. It makes it really fucking hard to extract. And once that damage is done, it’s permanent. You lose a big chunk of the oil.
The more Iran is actively either through theater or through bluff, the more that it sits in a standoff, the more it is actively destroying the one thing that it actually depends upon.
That’s the trap. And you’re not reading in in the press, but you’re damn well reading it on your screens.
Because this is where the gap between the narrative of the media and the price stops being subtle and irrelevant, and it’s why stock markets have priced something entirely differently.
The Iranian system, the adversary, cannot afford to stay disrupted without hurting itself. That's what's in the equity market's price."
We covered the timeline for 'tank tops' here in detail - less than 15 days before shut-ins begin.
Tehran Won't Talk Without JD Vance Present
The failed second round of Pakistan talks, which fell apart before they even began, was supposed to see Vice President JD Vance heading up the US side. This was reportedly something the Iranian side desired to see, and is likely still what its negotiating team would rather be dealing with. On the other hand, per Drop Site , "Iran has total disdain for Trump’s Special Envoy Steve Witkoff and views him as both oblivious of diplomatic processes and totally ignorant of technical issues ."
This is because "Kushner is viewed by Iran as Israel’s man at the table." This has led to the following view and alleged conclusion: "Iran, the senior official said, does not see any reason to deal with these two without a figure like Vice President JD Vance present."
Bombs have grown quiet across the Gulf amid the extended ceasefire, with the exception that fighting in southern Lebanon still rages, despite the US-mediated 'Lebanon ceasefire':
Last week as an avalanche of headlines said that a second round of talks were imminent, and after the Iranian foreign minister had already landed in Islamabad for bilateral discussions with Pakistani mediators, there were premature reports that Vance was en route to Islamabad. The mainstream media claimed that it was Iran essentially begging Washington for negotiations. "But Vance, it turned out, was not on a plane, and Iran continued to deny it had any intention of meeting with U.S. officials in Pakistan," Drop Site underscores.
Tyler Durden
Tue, 04/28/2026 - 13:25 Close
Tue, 28 Apr 2026 17:20:02 +0000 Tailing 7Y Auction Sees Lukewarm Foreign Demand, Jump In Direct Buyers
Tailing 7Y Auction Sees Lukewarm Foreign Demand, Jump In Direct Buyers
The week's final coupon auction per the truncated pre-FOMC schedule has come and gone, and like yesterday's 2Y and 5Y, was also mediocre at best.
The sal
Read more.....
Tailing 7Y Auction Sees Lukewarm Foreign Demand, Jump In Direct Buyers
The week's final coupon auction per the truncated pre-FOMC schedule has come and gone, and like yesterday's 2Y and 5Y, was also mediocre at best.
The sale of $44BN in 7Y paper stopped at a high yield of 4.175%, down from 4.255% in March; and like the week's previous auctions, the 7Y also tailed the 4.170% When Issued by 0.5bps, which makes it 4 auctions that have not stopped through in a row.
The bid to cover was better, rising to 2.513 from 2.432; this was the highest bid to cover since last June, and obviously well above the 2.46 six auction average.
The internals, on the other hand, were softer, with Indirects awarded 58.35%, down from 62.35% and below the 61.28% recent average. And with Directs taking a surprisingly high 30.0%, up from 25.0% and the highest since December, Dealers were left with 11.6%, right on top of the recent average.
Overall, this was another medicore auction which in light of the recent move higher in rates could have been worse.
As with the week's previous auctions there was no notable reaction to today's sale with markets far more focused on the price of oil and developments in Iran.
Tyler Durden
Tue, 04/28/2026 - 13:20 Close
Tue, 28 Apr 2026 17:00:00 +0000 Appeals Court Temporarily Allows Pentagon To Require Escorts For Reporters
Appeals Court Temporarily Allows Pentagon To Require Escorts For Reporters
Appeals Court Temporarily Allows Pentagon To Require Escorts For Reporters
Authored by Aldgra Fredly via The Epoch Times (emphasis ours),
A U.S. appeals court on April 27 temporarily allowed the Department of War to require reporters entering Pentagon grounds to be escorted while the government appeals a lower court ruling.
The Pentagon is seen from a flight taking off from Ronald Reagan Washington National Airport in Arlington, Va., on Nov. 29, 2022. Alex Wong/Getty Images/TNS
In a 2–1 decision, a three-judge panel from the U.S. Court of Appeals for the District of Columbia Circuit stayed an April 9 order issued by U.S. District Judge Paul Friedman , which found the department’s revised press access policy violated his previous order by mandating escorts for reporters entering the Pentagon.
The panel said the department has shown that it is likely to succeed on the merits of its case. According to the ruling, the department argued that allowing journalists to enter the Pentagon unescorted could increase the risk of sensitive information being disseminated.
“The Department has thus supported its claim that this aspect of its policy furthers important national security interests, ” the ruling stated.
Pentagon spokesman Sean Parnell welcomed the appeals court’s decision and emphasized that journalists continue to hold valid press credentials and access to Pentagon briefings, press conferences, and interviews.
“Despite what many in the media have told you, the Department’s policy has never been about limiting journalism—it is about safeguarding classified information that protects American lives ,” Parnell said on X.
The New York Times challenged the Pentagon’s rules in December 2025 , arguing that its press access policy violated the U.S. Constitution’s First Amendment by restricting journalists’ ability to “ask questions of government employees and gather information to report stories that take the public beyond official pronouncements.” Friedman subsequently blocked the rules and ordered the Pentagon to reinstate the credentials of New York Times reporters.
This story is developing and will be updated.
Tyler Durden
Tue, 04/28/2026 - 13:00 Close
Tue, 28 Apr 2026 16:40:00 +0000 Vegas Casino Stocks Hit A Cold Streak As Visitor Growth Muted
Vegas Casino Stocks Hit A Cold Streak As Visitor Growth Muted
Las Vegas casino stocks have been largely mixed year to date on New York exchanges, as soaring costs for alcohol, parking, food, hotel rooms, bottled water, and other b
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Vegas Casino Stocks Hit A Cold Streak As Visitor Growth Muted
Las Vegas casino stocks have been largely mixed year to date on New York exchanges, as soaring costs for alcohol, parking, food, hotel rooms, bottled water, and other basic items have deterred cash-strapped visitors from the Strip.
Visitor volumes have been under pressure for more than a year, with Canadian travel down sharply in 2025. Major operators such as MGM and Caesars have reported revenue declines in Sin City, according to Bloomberg .
The latest data from the Las Vegas Convention and Visitors Authority show that visitor volumes increased marginally by 2.1% in February, but this was from a depressed level, as foot traffic remains below late-2024 levels.
Foot-traffic data from Placer.ai indicate that quarterly visits across the top casino operators remain soft, with Las Vegas-exclusive Red Rock Resorts being the only one showing growth.
Vegas foot traffic is expected to remain muted this year: "I wouldn't expect a major upswing," Bloomberg Intelligence gaming and lodging senior analyst Brian Egger said.
Citizens analyst Jordan Bender noted that Vegas is more like a "vacation," with visitors going there "not necessarily to gamble more."
If "you just want a fun weekend for two days, it's not a bad place to go," Suter told clients.
We have detailed for years how unaffordable Vegas has become. Even MGM CEO William Hornbuckle acknowledged this reality on an October earnings call: "Whether it's the infamous bottle of water or Starbucks coffee at Excalibur that costs $12, shame on us."
Vegas must become affordable again - or risk yet another year of muted traffic, which would impact the local economy because the leisure and hospitality industry made up about a quarter of all jobs in the metro area.
Tyler Durden
Tue, 04/28/2026 - 12:40 Close
Tue, 28 Apr 2026 16:20:00 +0000 More Than 1,000 TSA Officers Have Quit Amid Shutdown
More Than 1,000 TSA Officers Have Quit Amid Shutdown
More Than 1,000 TSA Officers Have Quit Amid Shutdown
Authored by Troy Myers via The Epoch Times (emphasis ours),
The Department of Homeland Security (DHS) said Monday that more than 1,000 Transportation Security Administration (TSA) officers have left the agency since the partial shutdown began on Feb. 14.
An employee with the Transportation Security Administration (TSA) checks the documents of a traveler at Reagan National Airport in Washington, Jan. 6, 2019. Joshua Roberts/Reuters
Amid the record-breaking lapse in funding, DHS said that with summer months approaching and the FIFA World Cup kicking off in June, impacts to travelers could be significant.
The department announced the drastic drop in staffing in a post on X, blaming Democrats in Congress for the prolonged shutdown.
“This loss has SIGNIFICANTLY decreased TSA’s ability to meet passenger demand and left critical gaps in staffing , as each new recruit requires 4-6 MONTHS of training,” DHS wrote.
Fliers at airports across the United States experienced hours-long security lines earlier in the spending lapse.
To ease travel pains, President Donald Trump on March 23 deployed Immigration and Customs Enforcement (ICE) officers to 14 U.S. airports.
“[The American public is] going through a big struggle right now, and we just put ICE in charge, and they’re helping TSA—the agents—and they’re working together so far very well,” Trump said at the time.
If longer wait times persisted, Trump pitched the idea of also deploying the National Guard.
Lauren Bis, acting assistant secretary for public affairs at DHS, told The Epoch Times that from the start of the shutdown through March 24, 450 TSA agents had quit. Thousands more were calling out sick and could not afford gas, childcare, food, or rent, she added.
“As Democrats continue to put the safety, reliability, and efficiency of our air travel system at risk, [President] Donald Trump is taking decisive action—deploying hundreds of ICE officers, already funded by Congress, to the airports under the greatest strain,” Bis said.
TSA acting Administrator Ha Nguyen McNeill told Congress on March 25 that airports might be forced to close if the partial shutdown continued.
“At this point, we have to look at all options on the table. We don’t have the luxury of picking and choosing how we maintain our operations,” McNeill told lawmakers.
“And that does require us to, at some point, make very difficult choices as to which airports we might try to keep open and which ones we might have to shut down as our callout rates increase.”
Only days after McNeil testified on Capitol Hill, Trump signed a presidential memorandum to pay TSA agents with DHS emergency funds.
More than 50,000 TSA employees had been working without pay for weeks.
Wait times at airports eased as TSA agents began receiving paychecks and backpay. Security lines that were taking multiple hours to pass through were down to 10 minutes or less.
But there’s still no long-term plan from Congress to fully fund DHS.
Republicans and Democrats are blaming each other for the spending standstill. An array of funding proposals have come from both sides, but none have successfully advanced.
GOP lawmakers are criticizing their counterparts for not passing their proposals, as Democrats demand a guaranteed overhaul of immigration operations in exchange for a funding agreement.
On March 27, the House passed a stopgap plan to fund DHS for 60 days. The bill was sent to the Senate, which had already left for a two-week recess.
Homeland Security Secretary Markwayne Mullin warned on April 21 that DHS will soon run out of its emergency funds to pay TSA if Congress cannot reach a deal. The money would run dry by the first week in May, he said in a “Fox and Friends” interview.
“My payroll at DHS is just over $1.6 billion every two weeks,” Mullin said. “There is no more emergency fund, so the president can’t do another executive order for us to use money, because there’s no more money there.”
The Senate, using the budget reconciliation process, advanced on April 23 a $70 billion funding plan for ICE and Customs and Border Protection through 2029 . The process allows passage by a simple majority, bypassing the Senate’s 60-vote threshold.
If brought up by the House, the resolution would allow congressional committees to write detailed legislation on allocation of the funds, which would then require Trump’s signature to take effect.
Trump praised the Senate’s effort and urged Republicans to unify to achieve full funding for DHS.
Tyler Durden
Tue, 04/28/2026 - 12:20 Close