Zero Rss

Trump: Iran Deal Should Be Done 'Pretty Quickly' But 'Subject To Settling' Over Next Few Days Summary

• Trump Talks Endgame In Iran: Says 'we'll have a signing very soon.'
• TACO SEASONING: Trump tells NY Post that Iran deal "pretty much all wrapped up," but FARS news agency says no deal has been approved. 
• TACO: Trump Cancels Strikes After All Day Bluster About 'Bigger' Strikes on Iran Tonight (shocking TACO!)
• Iran Parliament Speaker Ghalibaf says "Wrong strategies and impulsive decisions will reset the entire board for the worse, explode energy infrastructure and markets & create an endless quagmire that you will be stuck in for years."
• Trump follows with mention of "bigger, more powerful" bombing of Iran tonight. He pledged "they're finished".
• Trump announces intent to hit the Iranians "VERY HARD TONIGHT" (surely there will be no TACO?)

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Trump Says Deal Imminent 

President Donald Trump announced Thursday evening that he had cancelled scheduled U.S. strikes and bombings against Iran, citing rapid progress on a U.S.-Iran memorandum of understanding (MOU) aimed at extending a fragile ceasefire and launching formal negotiations on Tehran’s nuclear program. In a Truth Social post and a phone interview with the New York Post, Trump said the agreement was “pretty much all wrapped up,” with documents at a “fairly final stage.” He added that he had spoken with Israeli Prime Minister Benjamin Netanyahu and claimed the deal had received approval at the highest levels in Iran and from multiple regional players, including Saudi Arabia, the UAE, and others. The U.S. naval blockade of Iranian ports will remain in place until the deal is signed, with time and location of the signing to be announced shortly.

'We have a SIGNING soon, docs in pretty final shape' — Trump on Iran deal

'They want it every bit as much as everybody else wants it'https://t.co/1gsHhVl9ZO pic.twitter.com/IkT8XltWBf

— RT (@RT_com) June 11, 2026 US x Iran permanent peace deal by June 30, 2026?
Yes 17% · No 84%
View full market & trade on Polymarket

President Trump in the Oval says:
-a signing could happen as soon as this week
-Trump says it’s a “strong” MOU “that’s a little conceptual” and “very detailed”
-the US will lift its blockade when the deal is signed
-Trump thinks the time from the MOU to a final deal will go…

— Haley Bull (@HaleyBullNews) June 11, 2026

The Israeli Prime Minister’s Office later confirmed that Trump spoke with Netanyahu this evening specifically about the emerging MOU. According to the readout, Netanyahu expressed appreciation for Trump’s commitment that any final agreement would require the removal of enriched nuclear material, dismantling of enrichment infrastructure, limits on missile production, and an end to Iran’s support for terrorist proxies - even though Israel is not a direct party to the MOU. Earlier in the day, Trump had sharply escalated rhetoric by threatening to seize Iran’s key oil-export hub at Kharg Island and hit Iran “very hard,” a move widely seen as leverage that may have accelerated the diplomatic opening.

"President Trump spoke this evening with Prime Minister Netanyahu regarding the emerging memorandum of understanding (MOU) with Iran to enter into negotiations," the PM's office wrote on X. "Even though Israel is not a party to the memorandum of understanding, the Prime Minister expressed his appreciation for President Trump's commitment that the final agreement at the conclusion of negotiations will include the removal of enriched material, the dismantling of enrichment infrastructure, limits on missile production, and the cessation of Iran's support for its terrorist proxies in the region."

Iranian state media, including Fars News Agency, quickly pushed back, stating that no final MOU text had been approved. Some Israeli officials also indicated they had not been briefed on a finalized deal. Markets reacted positively in the short term, with U.S. stocks rising and oil prices falling on hopes of de-escalation. The developments remain fluid, with both sides continuing to trade public signals amid ongoing regional tensions.

Via Telegram

And of course, oil:

Trump Claims Iran Deal 'Pretty Much All Wrapped Up' - FARS Says No Text Approved

President Trump told the New York Post in a phone interview that the US-Iran agreement is "pretty much all wrapped up," claiming high-level approval and announcing he has called off further strikes on Iran.

Iranian state media immediately pushed back. Fars News Agency, citing a source close to Iran’s negotiating team, stated that no text for the initial memorandum of understanding with the United States has been approved.

The dueling statements reflect the familiar pattern in these negotiations: the US side projecting near-completion while Iranian officials emphasize that no final text has received leadership approval. This comes amid ongoing indirect mediation efforts, including Qatari involvement.

*  *  *

Trump Cancels Strikes After All Day Bluster About 'Bigger' Strikes on Iran Tonight

TACO Thursday... Trump again backs off prior repeat vows. He's been threatening since last night that he'll "bomb the shit" out of Iran, and followed by specifically saying this morning that 'bigger airstrikes' would come tonight. It's after 9pm in Iran and there's been nothing yet.

And now the president is saying he's canceled the planned strikes altogether. He's saying this is due to "discussions" at the highest level with Iranian leadership. But Tehran has rejected that it's engaged with talks. One side or the other is lying. Might the following from CNN have some direct bearing on this sudden reversal in intentions?

Energy executives have warned the White House that key oil reserves being used to limit the Iran war’s impact on prices are running dangerously low, via CNN citing sources.

Stocks surging, oil dumping...

Oil plunges after the bombshell Truth Social reversal and sudden de-escalation in US military posture from the Commander-in-Chief:

US Still Holding Israel Back

This is another latest sign Washington is still looking for an off-ramp through negotiations. Trump is hoping to push Iran back into talks through bombing, which thus far hasn't worked (since even the opening days of Epic Fury). According to the latest reporting out of Israel's public broadcaster Kan News:

US Tells Israel Not To Attack Iran At This Stage – Kanhttps://t.co/HfQD420Own pic.twitter.com/Rx33bIdkvU

— LiveSquawk (@LiveSquawk) June 11, 2026

 

Ghalibaf to US: "Endless quagmire that you will be stuck in for years."

Iran Parliament Speaker Ghalibaf says "Wrong strategies and impulsive decisions will reset the entire board for the worse, explode energy infrastructure and markets and create an endless quagmire that you will be stuck in for years."

He's seizing on the lessons of Bush's Afghan and Iraq wars, which the media and history books have long looked critically on as 'forever wars'. There's also the general war-weariness among the American public, also as the Russia-Ukraine war is in its fifth year. This is Tehran again counter-signaling that there is no imminent deal or even so much as forward-moving negotiations to speak of.

Wrong strategies and impulsive decisions will reset the entire board for the worse, explode energy infrastructure and markets and create an endless quagmire that you will be stuck in for years.

You will see a different Iran.

— محمدباقر قالیباف | MB Ghalibaf (@mb_ghalibaf) June 11, 2026

Meanwhile, the Pentagon is pushing back against Iran's assertion that it has again locked down international shipping transit in the Strait of Hormuz:

The Strait of Hormuz remains open for transit. pic.twitter.com/OkHnbiTNpl

— U.S. Central Command (@CENTCOM) June 11, 2026

And more from Trump on from bad to worse escalatory 'options':

Trump on Fox News: "My preference has always been to take Kharg Island. I don't know that America has the stomach for it, to be honest."

Trump: 'Bigger, More Powerful' Bombing Tonight

President Trump follows on the heels of vowing to hit Iran "very hard tonight" with some further words revealing his thinking in a morning Fox News interview. Trump has promised a "bigger, more powerful" bombing of Iran. "They have no defense," he said, and pledged "they're finished". But be again lambasted the media for not saying that they are actually "finished".

He explained that if needed, US troops can be used to "take over the whole place" - but still expressed he doesn't desire to put US American forces on the ground. 

Separately, CNN has cited US admin officials who suggest that a move to capture Kharg Island is an "endgame" strategy option. So this suggests its low on the White House agenda, after Trump earlier hinted that this could be done.

Following his announcement on this Truth Social app that the U.S. will resume strikes on Iran tonight, U.S. President Donald J. Trump confirmed to Fox News on a call today that “bigger, bigger, more powerful” strikes will be conducted tonight. Additionally, President Trump said… pic.twitter.com/C0gc832wvd

— OSINTdefender (@sentdefender) June 11, 2026 Trump: Will Be Hitting Iran Very Hard Tonight

After already issuing an ultimatum the evening prior, President Trump has just announced his intent to launch a second consecutive night of direct missile attacks on Iran. He's vowing to hit the Iranians "VERY HARD TONIGHT".

He also just renewed prior threats to 'take' Kharg Island and 'other oil infrastructure points' in the not too distant future.

The Thursday morning Truth Social post previewing the next escalation in this war resulted in a spike in oil prices:

US Attack Renders Ceasefire 'Meaningless'

Overnight, there did not appear to be any new major exchanges of fire after Iran launched retaliatory strikes on US bases in Kuwait, Bahrain and Jordan - following the US bombing of some dozens of targets in Iran earlier, in the wake of the downing of a US Apache attack helicopter in the Hormuz area earlier this week.

But since then, Iran has announced it is closing the Strait of Hormuz - or rather seeking to tighten its grip with the likelihood of more aggressive attacks on international and 'unauthorized' tankers to come. Iran had also struck US bases in Kuwait, Bahrain, and Jordan - according to its statements as well as emerging open source material.

The most important new statement to come out of Tehran is the Iranian Foreign Ministry's charge that the US attacks "rendered the ceasefire dated April 8, 2026 effectively meaningless" and that the US will be held responsible for the "consequences". The formal statement also urged regional Arab stated to not allow American forces to use their territories.

Intercepted Iranian attack drones fell on residential areas in Bahrain's Hamad City and Manama this morning, damaging several buildings. pic.twitter.com/8sPowbuPH2

— OSINTtechnical (@Osinttechnical) June 11, 2026 Day 104: Return to Regional Airspace Closures

It is day 104 of the enduring conflict, with active war having newly erupted again, and so we are seeing airspace closures over the region once again, with Kuwait confirming flight diversions amid a temporary airspace closure.

Aerial alerts have also been issued for Jordan. 

A slew of new videos have emerged showing missile intercepts, with US Patriot batteries active, over areas from Kuwait to Bahrain to Jordan - however, the United Arab Emirates (UAE) interestingly continues to be sparred from Iran's wrath and retaliation.

Footage of an engagement between an American PATRIOT SAM battery and incoming Iranian medium-range ballistic missiles over Jordan this morning. pic.twitter.com/nCT7YhSTeD

— OSINTtechnical (@Osinttechnical) June 11, 2026 Scope of US Attack & Iran's Military Response

As for the latest of what's confirmed in the wake of the prior day's major US attacks on Iran, which involved over 40 Tomahawk missiles fired, Al Jazeera has the following summary and review of the situation:

• US strikes on Iran: US Defense Secretary Pete Hegseth confirmed that Washington was launching strikes on “key facilities” in Iran, saying the attacks were part of attempts to secure a permanent ceasefire. Speaking outside CENTCOM headquarters in Tampa, Florida, Hegseth said President Donald Trump had ordered Iran to be hit “hard” and warned the strikes could continue for a second consecutive night if necessary.
• Strait of Hormuz closed: In response to the latest attacks, Iran’s top military command announced the complete closure of the Strait of Hormuz, one of the world’s most critical oil transit routes. Officials warned all vessels to stay away from the strategic waterway, saying any ships attempting to pass through could come under attack.
• Water services restored: Authorities in Iran’s Hormozgan province said water supplies had been restored to affected communities in Sirik county less than 12 hours after US strikes damaged infrastructure. Iranian media reported that two concrete water storage reservoirs were hit in the attacks. A New York Times analysis suggested the tanks may have been struck with precision-guided munitions, raising concerns as international humanitarian law considers civilian water infrastructure a protected site.
• Tehran reacts to renewed fighting: Reporting from Tehran, Al Jazeera’s Mohamed Vall said many Iranians had been expecting another US attack despite renewed talk of negotiations. “They have been waiting and expecting a surprise American attack,” Vall said, adding that Tehran retaliated by striking US bases in Kuwait and Bahrain, according to military commanders. The latest exchanges mark another night of direct confrontation after both sides had suggested the previous round of attacks had come to an end.

Below: Iran releases video showing this its latest missile launches targeting US bases in the Middle East:

Iran releases video showing this morning's missile launches targeting U.S. bases in the Middle East. pic.twitter.com/fXR1ervGad

— Clash Report (@clashreport) June 11, 2026 'Tomorrow Night' Warning

President Trump is again trying his hand at forcing Iran to negotiate and capitulate through bombing, most recently warning in a statement to Fox News that if Iran does not accept a US deal, it would come under American fire power once again "tomorrow night" -- so the clock is ticking Thursday, apparently. 

While Trump claimed the Iranians had contacted Washington, urging a halt to the attacks, Tehran leadership has rejected that this actually happened. The whole situation is somewhat of a return to the same stalemated reality of the opening days and weeks of Operation Epic Fury.

This is precisely what he thought the first few days would do https://t.co/9sFgy6qS3G

— Ryan Grim (@ryangrim) June 11, 2026 Third Tanker this Week Disabled by US Forces

In the Gulf of Oman, US forces have reportedly disabled another oil tanker charged with 'violating the blockade' put into place by the US Navy. This marks the third commercial vessel disabled by American forces this week. According to a fresh CENTCOM description of the action:

U.S. forces disabled an oil tanker in the Gulf of Oman at 11:20 p.m. ET on June 10 after the vessel violated the blockade against Iran by attempting to transport Iranian oil, marking the third commercial ship disabled by American forces this week.

U.S. Central Command (CENTCOM) acted against Guinea-Bissau flagged M/T Jalveer as it attempted to transport oil from Iran through the Gulf of Oman. A U.S. aircraft fired two Hellfire missiles into the ship’s engine room after the crew repeatedly failed to comply with directions from U.S. forces.

Earlier this week, U.S. aircraft disabled Palau-flagged vessels M/T Marivex and M/T Settebello on Monday and Tuesday, respectively. Marivex violated the blockade by attempting to sail to an Iranian port and Settebello attempted to transport Iranian oil.

In total: U.S. forces have disabled 9 non-compliant vessels since initiating the blockade of Iran's ports on April 13.

The MT Jalveer, an Indian-crewed commercial vessel, suffered damage near Oman, India's Foreign Ministry said. A total of three Indian vessels were attacked by the U.S. Navy, two of which are OFAC-sanctioned, and one falling under the non-compliant category. pic.twitter.com/g8gvq2EqGw

— Ariel Oseran أريئل أوسيران (@ariel_oseran) June 11, 2026 Claims of Ongoing Indirect Talks

Bloomberg reports early Thursday:

Qatar negotiators depart Tehran after talks on US, Iran: diplomat to AFP

Some regional media, such as Al Arabiya, are reporting that negotiations between Tehran and Washington are ongoing (likely only indirectly, if at all) - though there hasn't been official confirmation of this from the Islamic Republic side at all. Instead, they are calling even the extended ceasefire itself 'meaningless'.

According to the latest communication, Iran's Defense Ministry says the country will not back down in the face of threats or pressure, with the national armed forces remaining on high alert, ready to inflict retaliation and punishment.

Tyler Durden Thu, 06/11/2026 - 15:44

Defendant In Deadly LA Wildfires Wanted 'Revenge Against Society,' Prosecutor Says

Authored by Beige Luciano-Adams via The Epoch Times,

LOS ANGELES - More than a year after one of the most destructive fires in U.S. history, attorneys on Wednesday offered opening salvos in a federal jury trial accusing a 29-year-old man of sparking the initial flame that would lead, a week later, to the catastrophic inferno that claimed the lives of 12 people and reduced thousands of homes to ash in the wealthy coastal enclave of the Pacific Palisades.

Destruction caused by the Palisades Fire near Los Angeles on Jan. 9, 2025. John Fredricks/The Epoch Times

"He wanted revenge - revenge against society because he blamed society for all his troubles," U.S. Attorney Mark Williams told the court.

Dejected and alone on New Year's Eve, driven by resentment, Jonathan Rinderknecht set fire to the hills surrounding an upscale Los Angeles neighborhood where he had once lived a better life, prosecutors charged.

Prosecutors alleged that Rinderknecht intentionally lit a small brush fire just after midnight on Jan. 1, 2025, near a clearing atop a popular hiking trail in the Santa Monica Mountains, then attempted to cover his tracks by constructing a digital record of a less sinister alibi.

Firefighters quickly suppressed that blaze, dubbed the Lachman Fire - but it smoldered among underground roots for a week before erupting to the surface via a single tree, where powerful Santa Ana winds whipped it into the Pacific Palisades Fire, investigators claim.

The two fires may have different names, Williams said of the so-called holdover fire, "but they were actually the same continuous fire."

Investigators identified Rinderknecht as a person of interest by matching geolocation cellular data, local security cameras and Flock police camera networks identifying his vehicle and license plate, as well as the defendant's own 911 call records.

"There was one phone that provided more geolocation data for the exact time we were looking for than the other ones," Michael Montevidoni, a special agent with the U.S. Bureau of Alcohol, Tobacco, and Firearms (ATF), told the court.

Steve Haney, an attorney for Rinderknecht, offered an alternate narrative for his client's proximity to the incident.

"The government says that's the voice and actions of a man who started a fire," Haney said of a recording, one of more than a dozen calls Rinderknecht placed to 911 in the minutes after the Lachman Fire erupted, played in court by the plaintiff. "It's the voice and actions of a man who was trying to stop a fire."

Haney said the fact that his client was in the area at the time - he was an Uber driver who had just dropped a ride off in the adjacent neighborhood - is not in dispute.

But the government has offered no "reliable evidence" showing Rinderknecht started the Lachman Fire, Haney said, much less that he is responsible for the Palisades Fire that followed it a week later.

"It's up to the government to prove to you how somehow these two fires with two different names, two different dates, and two different ignitions, somehow are not two fires, but one continuous fire that Jonathan should be responsible for," Haney said.

"The government has never charged or accused Jonathan of willfully starting a fire on Jan. 7," Haney said of the day the Palisades Fire ignited. "And they can't because he wasn't anywhere near the Pacific Palisades on Jan. 7, 2025."

Haney said the evidence will show the government investigated the two fires as separate events with two separate sets of suspects - and that the likely cause of the Lachman blaze was fireworks, not arson.

"After eight months, the government abandoned the two-fire theory. They replaced it with a single combined one-fire theory. ... It took over eight months to charge Jonathan with arson," he said, noting Rinderknecht was charged in October 2025, 10 months after the Lachman Fire.

The high-profile trial opened just as a contentious Los Angeles mayoral primary drew to a close, in which incumbent Karen Bass narrowly advanced to a November runoff after fending off attacks from both left and right over her handling of the fire response and aftermath.

Dressed in a dark suit, Rinderknecht wore a neutral expression but watched his attorney and witnesses intently throughout the day.

Driven by a fascination with fire and a resentment toward the wealthy, prosecutors claim, Rinderknecht started the fire intentionally with a lighter, then attempted to preserve evidence of "a more innocent explanation" when he recorded himself calling 911 and queried ChatGPT, "Are you at fault if a fire is lift [sic] because of your cigarettes?"

According to the state's case, arson investigators ruled out other potential causes of the Lachman fire, including fireworks, lightning, power lines, refracted sunlight - and cigarettes, in the last case performing more than 500 experiments at a specialized lab.

Prosecutors say evidence including eyewitnesses, a cache of GPS data from Rinderknecht's phone carrier geolocating his movements, video footage, his own 911 calls - as well as ChatGPT queries and even a song he repeatedly listened to - illustrate his alleged motive and attempted cover-up.

U.S. District Judge for the Central District of California Anne Hwang has excluded some of that evidence, including AI images Rinderknecht allegedly prompted of a class-war inferno months before the fire.

In a ChatGPT prompt cited in the complaint, Rinderknecht asked the chatbot to create a "dystopian painting" featuring people running from a burning forest, with "hundreds of thousands of people in poverty" separated by a giant gate from a "conglomerate of the richest people" who watch as the world burns. "They are laughing, enjoying themselves and dancing."

Prosecutors said the defendant, an Uber driver, was angry after failing to secure an invitation to a New Year's Eve party, and acted on long-simmering fantasies and resentments he'd harbored in a place he knew intimately.

"He definitely knew the area well. He had lived there a few years earlier with his boyfriend, who was renting a large house with a pool," Williams said. "You'll hear the defendant enjoyed living there - he was happy, in good shape, and people treated him well."

All of that changed, the prosecutor claimed, when the defendant's relationship ended, and he moved to a small apartment in Hollywood.

"His life started to deteriorate. ... In 2024, the defendant was lonely with no real friends. He lived by himself and was withdrawn," Williams said, adding "his own words will show how angry this made him."

Montevidoni, the ATF special agent, told the court he conducted close to 100 interviews during the course of the investigation, including those of the defendant's family, romantic partners, and acquaintances.

Investigators also conducted a fine-grained digital dragnet, extracting evidence from the defendant's iCloud, Gmail, OpenAI accounts, his Uber records, and multiple phone and phone carriers.

Rinderknecht's social views, personal life, and interior thoughts are irrelevant, Haney argued.

"This case is not about whether you like Jonathan or not, whether you approve of the way he uses his computer or activates his ChatGPT," Haney said. "The question is whether the government can prove beyond a reasonable doubt whether Jonathan set the fire on Jan. 1, 2025."

Despite extensive searches of his home, vehicle, and all of his digital records, Haney said, the state failed to produce evidence that his client intended to start a fire.

"The evidence will show ... that just after midnight, a fire began on a hillside. It will show panic, it will show confusion, it will show a frightened young man reporting it and desperately calling for help," Haney said.

The jury will consider whether evidence shows, beyond a reasonable doubt, that Rinderknecht committed three counts of arson, related to three different types of property that burned during the fire.

A firefighter battles the Palisades Fire as it burns homes on the Pacific Coast Highway during a powerful windstorm in Los Angeles on Jan. 8, 2025. The wildfire lasted for 24 days, resulting in the deaths of 12 residents, forcing thousands to evacuate their homes, and rendering entire neighborhoods uninhabitable. Apu Gomes/Getty Images Tyler Durden Thu, 06/11/2026 - 15:40

Hidden Starship Trade: The Industrial Gas Giant Fueling SpaceX's Rockets

Ahead of the SpaceX IPO, Rothschild & Co Redburn analyst Tony Jones published a note on space propellant economics and identified an industrial-gases giant that is well positioned to dominate the market for rocket propellants and mission-critical launch gases as SpaceX's Starship launch cadence gains momentum and the broader space economy is set to double by 2035.

Jones and his team reiterated their "Buy" rating on Linde and raised their 12-month price target to $560 from $550, telling clients on Wednesday that the company has built a deep moat in the industrial gases business after powering America's rocket launches for the past six decades.

The team at the equity research arm of Rothschild & Co Redburn sees SpaceX's Starship as a "further demand accelerator," with higher launch cadence and heavier propellant loads creating a new growth lever for Linde's mission-critical gases business.

Jones estimates Linde generated just under $4 million of revenue per average space launch in 2025. By 2028, that number could approach $6 million as Starship launches are set to increase dramatically, driving demand for liquid oxygen, nitrogen, helium, cryogenic services, rare gases, and capacity fees.

Main points from the note:

1. White Space. Linde has fuelled NASA for c60 years and now has capex set to ramp alongside SpaceX's Starbase. We delve into the economics and like what we see. Space sales are c2% group but could scale rapidly, as Starlink's ecosystem forms.

2. Starship: a further demand accelerator. The transition to Starship as a dominant vehicle could transform the opportunity, burning c10x the oxygen of a Falcon 9 launch. Linde's revenue per launch could near $6m by 2028, from under $4m in 2025. This comes on top of potentially exponential launch cadence.

3. Project and EPS optionality. Linde's space capex falls outside its gas backlog, lacking take-or-pay status. However, contracts seem likely and we see the backlog revised up as a clear valuation catalyst. EPS growth could accelerate (Fig 1). Linde is a rock-solid business with top-quartile management. We increase our 12-month PT to $560 per share (from $550) and reiterate our Buy recommendation.

Linde's earnings growth could accelerate if several growth levers hit at the same time...

Starship dominates propellant gas usage among space vehicle types this year.

"SpaceX has indicated that the 140 to 160 launches planned for 2026 will be almost all Falcon 9 flights. Starship launches will likely be test flights only, with the major milestone to successfully reach optimal range," Jones noted.

Linde revenue per average space launch – 2025

Linde revenue per average space launch – 2028

Musk has previously stated, "Starship should be doing >1000 Earth orbit flights per year by 2028. That is still low compared to what's needed to build a self-sustaining city on Mars and secure the future of consciousness."

Related:

• Data Centers In Space Are Coming: Here's How To Profit

Professional subscribers can read more on SpaceX at our new Marketdesk.ai portal

Tyler Durden Thu, 06/11/2026 - 15:20

16 Academics Sign Letter Calling For Public Inquest Into Epstein Accuser's Suicide

Authored by Rex Widerstrom via The Epoch Times,

The death last year of Jeffrey Epstein accuser Virginia Giuffre was ruled a suicide by police, but 16 academics have now penned an open letter to the state coroner calling for a formal public inquest into possible domestic violence links.

Undated handout file photo issued by the US Department of Justice (left-right) of the former Duke of York, Virginia Giuffre, and Ghislaine Maxwell. 

Giuffre died on April 25, 2025, aged 41, at her farm in Western Australia, leaving behind three children with her husband, Robert Giuffre.

On March 30, she'd made her last social media post, claiming on Instagram that she had gone into renal failure after a bus accident and that she had been given four days to live.

It is accompanied by a photo in which she is lying on her side in what appears to be a hospital bed, with bruises visible on her face.

The newest letter, published by the Centre for the Elimination of Violence Against Women (CEVAW) at Melbourne Law School, is signed by 16 academics who are all researchers and experts in domestic and violence against women.

The group says there is "evidence that makes such an inquest not only appropriate but necessary."

They rely on statistics that link suicides to the experience of family violence, such as a 2107 investigation by the Ombudsman, which found that 56 percent of women and children who died by suicide in Western Australia that year had been victims of domestic violence.

"This figure is almost certainly an underestimate given the well-documented underreporting of DFV [domestic and family violence] in official systems," the letter goes on to say.

"Emerging evidence further suggests that deaths by suicide in the context of DFV may be three times greater than the number of women killed by an intimate partner - yet unlike homicide, these deaths rarely receive equivalent scrutiny.

"Coronial processes too frequently treat mental ill health as the primary explanatory lens, obscuring the role of coercive control and systemic failure," the academics say.

"Research identifies the removal of children as a significant contributor to hopelessness among victim-survivors, and the weaponisation of legal mechanisms, including restraining orders, as a tactic of coercive control is equally well established."

In an March 2025 post, Giuffre had complained about being estranged from her children, writing, "My beautiful babies have no clue how much I love them, and they're being poisoned with lies. I miss them so very much."

The academics wrote: "Virginia Giuffre's death is unusual only in that it is visible."

"Her public profile means there is an unusually detailed record of her final months - and what that record shows is deeply consistent with what our research tells us about how these deaths occur, and how they are too often overlooked.

"The reported circumstances of her final months are consistent with the patterns described above, and a public inquest is the appropriate mechanism to examine them thoroughly. Conducted with full attention to the DFV context of her death, such an inquest has the potential to generate findings and recommendations that reach far beyond this one case, and that could prevent future deaths."

It concludes by urging the coroner to "bring the full weight of the available evidence to bear on this decision."

Giuffre was one of the most prominent accusers of Epstein.

She claimed that the now-former Prince Andrew had sexually abused her when she was 17 years old, allegedly with the help of Epstein and Ghislaine Maxwell, 62, who was found guilty of assisting Epstein in the abuse of multiple girls.

A civil lawsuit that Giuffre filed against Prince Andrew in 2021 was settled confidentially, with the prince donating money to Giuffre's charity.

Although the amount has never been revealed, reports widely estimate the out-of-court settlement, reached in 2022, to be worth approximately 12 million pounds (A$22.9 million, US$16.1 million).

The settlement also placed a gagging order on Andrew, meaning he could no longer deny he had raped Giuffre or repeat the claim that he had no memory of meeting her.

When Giuffre's death became known, she received multiple tributes, including from President Donald Trump, who called her passing "a horrible thing."

Tyler Durden Thu, 06/11/2026 - 15:00

Karmelo Anthony's Family Can No Longer Fundraise Off Austin Metcalf's Death

Authored by Luis Cornelio via Headline USA,

The family of Karmelo Anthony can no longer raise money from supporters through GiveSendGo following the conclusion of his criminal case.

The Anthonys were able to raise more than $600,000 in the wake of the then-17-year-old’s prosecution in connection with the fatal stabbing of track star Austin Metcalf during an altercation on April 2, 2025.

The controversial fundraiser was hosted by GiveSendGo, which attracted thousands of donors who bizarrely viewed Anthony’s prosecution as the product of racial injustice. Evidence shown at trial proved otherwise.

In a June 9 statement posted on its website, GiveSendGo said that the fundraiser has been closed because Anthony’s trial was over.

“This fundraiser was created to support pre-trial needs, and those funds were disbursed over the past year for lawful purposes including legal defense and family relocation,” GiveSendGo stated.

“With that stated purpose now complete, the fundraiser has been closed and the funds will be paid out. Our policy is that a fundraiser’s stated purpose stays accurate so givers always know what they are supporting,” the platform added.

pic.twitter.com/RgkNJH6ll8

— GiveSendGo (@GiveSendGo) June 10, 2026

The fundraiser drew scrutiny because Anthony’s family resided in a highly exclusive gated community in a home reportedly valued at roughly $900,000.

A neighbor in the community told the Daily Mail that Anthony might have bought a brand-new vehicle during the trial.

But a defense attorney told reporters that the family used part of the funds to relocate and hire security.

By contrast, supporters and friends of the Metcalf family raised nearly $700,000 through two separate GoFundMe campaigns to help cover funeral costs and other expenses stemming from the teen’s death.

Anthony was sentenced to 35 years in state prison after a jury found him guilty of murder.

As revealed during the trial, Anthony fatally stabbed Metcalf in the chest. The wound was so severe that the knife penetrated into Metcalf’s lung.

The single stab wound was not survivable, according to Collin County Chief Medical Examiner Dr. Elizabeth Ventura.

Tyler Durden Thu, 06/11/2026 - 14:20

New Delhi Furious After Tanker Strike Off Oman Leaves Three Indians Dead, Summons US Envoy

In a development that's unprecedented or at least extremely rare, India on Wednesday summoned a US diplomat in the capital of New Delhi over what it blasted as an illegal "attack" on a vessel off Oman this week.

Jason Meeks, charge d'affaires of the US Embassy in New Delhi, was formally summoned by the Indian government to protest the US military attack on the Palau-flagged Settebello. 

There had been 24 Indian crewmen on board - but 21 were rescued. Later, the three missing crewmembers were confirmed dead.

CENTCOM posted footage of strike action on the ship's engine room.

US CENTCOM by Thursday had confirmed: "Earlier this week, U.S. aircraft disabled Palau-flagged vessels M/T Marivex and M/T Settebello on Monday and Tuesday, respectively. Marivex violated the blockade by attempting to sail to an Iranian port and Settebello attempted to transport Iranian oil."

The attack which killed three Indian sailors occurred off the coast of Oman, and the killing of the Indian nationals has made global headlines.

Many thousands of Indian sailors are currently stranded in the Gulf region, and so the situation remains highly dangerous for them and other international crew.

According to the BBC:

Rajesh Sharma, father of Aditya Sharma, a cadet on board the Settebello who died in the strike, told the BBC that the family was waiting for his body to be returned to them.

He said his son was due to return home in May, but his duty got extended. He added that he had last spoken to his son on Sunday.

He questioned why the captain of the tanker chose to go near the Strait of Hormuz and called for an inquiry. "Who is responsible for the deaths [of the three Indian sailors]? The circumstances that led to the deaths must be investigated," he said.

The Pentagon's favored tactic has been to fire hellfire missiles into a tanker's engine room when it fails to comply with warnings not to continue on its course. 

Both sides are imposing their own rival blockades on the vital Strait of Hormuz shipping waterway, and so there's a double danger and risk posted to international crew members.

A profound strategic rift is exploding between the US and India.
In its aggressive bid to enforce the Iranian oil blockade, US forces have struck a third Indian-manned tanker in 4 days—and New Delhi has just confirmed 3 Indian sailors are dead. 🧵🇺🇸🇮🇳🇮🇷 👇 pic.twitter.com/6vXDtDcH5g

— Francesco Sassi (@Frank_Stones) June 11, 2026

At its narrowest point, the strait is about 18 miles wide, making commercial vessels extraordinarily vulnerable to suicide drones, missiles, mines, and small boats. But then they have to face down the US Navy if they 'illicitly' visited an Iranian port, or are inbound from the other direction.

Tyler Durden Thu, 06/11/2026 - 14:00

Ugly, Tailing 30Y Auction Sees Foreign Demand Tumble, Dealer "Backtop" Bid Jump

After yesterday's stellar 10Y auction, which saw the 5th highest Indirect take down on record, today's reopening of $22BN in 30Y paper (via Cusip UU0) was a mirror image: ugly, poor foreign demand, and tailing.

Starting at the top, the auction priced at a high yield of 5.02%, down fractionally from 5.046% last month (which was the first 5% coupon auction in history). And just like last month, today's auction also tailed the When Issued 5.008% by 1.2bps; this was the third tailing 30y auction and was also the biggest tail since August 2025.

Next, we look at the bid to cover which at 2.328 was a bit higher than last month's 2.303, which however was the lowest this year; it means that the BtC was well below the recent average of 2.43.

The internals were even uglier: in contrast to yesterday's surge in Indirect demand, today's Indirects took down just 59.95%, down from 66.6% and the lowest since August 2025. And with Directs rising to 25.31%, above the six-auction average of 23.7%, Dealers were left holding 14.74%, or the highest since July 2025.

In summary: this was a very ugly, tailing auction, which saw foreign demand tumble, offset by the biggest "backstop" bid from Dealers in almost a year. Whether this was the result of today's red hot PPI, or because investors are allocating capital to SpaceX and have little left to fund US spending, remains to be seen. 

Tyler Durden Thu, 06/11/2026 - 13:41

Backroom Detente: A Curious Lack Of Iranian Strikes On UAE, While Others Get Hit

President Trump is vowing another consecutive night of even heavier US military strikes on Iran. Yesterday's salvo involved at least 49 Tomahawk missile strikes, mainly happening against southern coastal areas off the Strait of Hormuz.

Amid Iran's counter-attacks on Gulf nations and reportedly on American bases hosted in these Arab Gulf allied states, there's been a curious lack of any new launches against the United Arab Emirates. 

Kuwait and Bahrain have been hit especially hard in this week's new flare-up in cross-Gulf fighting, but again, the UAE has been spared - after previously coming under significant attacks during the opening month of Operation Epic Fury. Even faraway Jordan has been targeted in the new 'retaliatatory' attacks.

But Bloomberg on Thursday revealed the reason - Iran and the UAE have apparently reached an 'understanding' after some backroom dealing and diplomacy.

"Senior national security officials from the United Arab Emirates and Iran held a face-to-face meeting for the first time since the start of the US-Israeli war against Tehran, according to people with knowledge of the situation," Bloomberg reports.

"This week’s meeting marked a stark turnaround for both sides and comes amid their growing acknowledgment of the importance of calmer bilateral ties, the people said, asking not to be named discussing sensitive matters," the fresh reporting continues.

In the UAE's thinking, it has too much to risk if it continues to face Iran's significant ballistic missile and drone arsenal, at a moment Washington has failed to clearly define an end game, but instead is climbing up the escalation ladder with a cornered and thus fierce Iran, which sees itself fighting for its very survival.

According to more from Bloomberg:

The UAE’s leaders want to keep their bold economic ambitions, including investing billions of dollars in increased oil production and in AI data centers, on track. The relationship is important for Tehran too, as the Gulf nation was among the Islamic Republic’s biggest trading partners before the war began and a key conduit for sanctioned Iranian oil.

Other leaders - both on the political and business fronts - are also likely asking themselves: when will it end? 

After all, each time the United States escalates, it's these Gulf economies that are the first to feel the pain, as they literally find themselves on geographic the front line just a few hundred miles away from Iran's borders. 

If it is indeed accurate that Gulf nations are approaching Iran to do individual separate deals, this is for now a diplomatic 'win' for Tehran. Separate deal-making, peeling others away from a united front and bloc, gives Iran some greater leverage and also flexibility in terms of potential post-war economic and political detente with regional states.

Tyler Durden Thu, 06/11/2026 - 13:20

Pardoned J6er Sues Government For $18 Million Over Alleged Abuse In Pretrial Detention

Authored by Matthew Vadum via The Epoch Times,

A former Jan. 6 defendant who alleged torture and other abuse in custody is suing the federal government for almost $18 million.

The lawsuit by Ryan Samsel of Bristol, Pennsylvania, was filed late June 9 in federal court in Virginia, six months after he gave the government the legally required notice he was planning to litigate.

He is seeking $17,980,000 from the federal government for physical and mental injuries suffered from January 2021 through January 2025.

According to the newly filed legal complaint, Samsel was convicted in February 2024 of civil disorder-related offenses in connection with the Jan. 6, 2021, U.S. Capitol breach and was incarcerated and awaiting sentencing when President Donald Trump pardoned him last year.

Specifically, he was convicted on felony charges of civil disorder; assaulting, resisting, or impeding officers; and assaulting, resisting, or impeding officers using a dangerous weapon, the U.S. Department of Justice (DOJ) previously said. Samsel disputes the criminal allegations.

Samsel alleges he was subjected to physical and psychological abuse while in custody at facilities operated by the DOJ and the U.S. Bureau of Prisons in the District of Columbia and Virginia.

At those facilities, “he was repeatedly beaten, subject to other incidents of extraordinary physical and mental abuse and routinely denied medical care.”

In addition, he was “wrongfully detained for one day after receiving a full pardon, based on false allegations of an outstanding warrant made by the prosecutor.”

The DOJ also leaked false information to the media indicating that Samsel was a member of the Proud Boys, the complaint alleges.

The group, some of whose members have been accused of violence, describes itself as a patriotic drinking club.

The complaint says that during his incarceration, Samsel suffered orbital bone fractures and bilateral nasal bone fractures.

Among his other injuries were a dislocated jaw, multiple concussions, traumatic brain injuries, an acute kidney injury, and stab wounds to his legs, ankles, and arms.

He experienced severe post-traumatic stress disorder and cognitive and memory impairment “attributable to repeated head trauma and prolonged psychological torture.”

He also suffered “retaliatory solitary confinement with continuous lighting, sleep deprivation, public degradation in the restraint chair, and exposure to extreme violence and unsanitary conditions at the Facilities.”

Samsel’s attorney, Peter Haller, declined to comment on the freshly filed lawsuit.

In a prior court filing, Haller said, “Given the severity, duration, and documented multiplicity of the abuses suffered by Mr. Samsel, he is likely to be recognized as the most tortured individual by the Federal Government in recent American history.”

The Epoch Times reached out to the DOJ for comment but received no reply by publication time.

Tyler Durden Thu, 06/11/2026 - 13:00

FIFA World Cup Gets Underway Across North America

The largest, most inclusive, and most widespread World Cup tournament in FIFA’s history kicks off with two games in Mexico today.

For the next several weeks, nearly 50 nations will compete in more than 100 games in stadiums spread out across Mexico, the United States, and Canada—the first time FIFA has allowed three countries to co-host the event.

Here is a breakdown (via The Epoch Times) of what to know...

Tournament Format

The World Cup begins with a “Group Stage,” which runs from June 11 to June 27, and consists of 72 matches in 16 cities across North America.

Several months prior, all 48 qualifying teams were placed into 12 groups of four.

• Group A: Mexico, South Africa, South Korea, and Czechia.
• Group B: Canada, Bosnia and Herzegovina, Qatar, and Switzerland.
• Group C: Brazil, Morocco, Haiti, and Scotland.
• Group D: United States, Paraguay, Australia, and Turkey.
• Group E: Germany, Curacao, Ivory Coast, and Ecuador.
• Group F: The Netherlands, Japan, Sweden, and Tunisia.
• Group G: Belgium, Egypt, Iran, and New Zealand.
• Group H: Spain, Cabo Verde, Saudi Arabia, Uruguay.
• Group I: France, Senegal, Iraq, and Norway.
• Group J: Argentina, Algeria, Austria, and Jordan.
• Group K: Portugal, Congo, Uzbekistan, and Colombia.
• Group L: England, Croatia, Ghana, and Panama.

The top two teams in each group, as well as eight third-place finishers with the best records or most points overall, will advance to a single-game elimination round.

Those surviving 32 teams will drop to 16, then the remaining eight teams will play in the quarter-finals scheduled for July 9, 10, and 11.

The two semi-final matches are set for July 14 and July 15. The two winners will play in the final on July 19, while the two losers will play for third place the day before.

Where Will World Cup Games Take Place?

The teams will be spread out to 16 locations across the three North American host nations.

Mexico

Mexico City kicks things off on June 11 when Mexico hosts South Africa at 3 p.m. ET.

The capital city will host two other group stage games, with Colombia playing Uzbekistan at 10 p.m. on June 17, and Mexico playing Czechia at 9 p.m. on June 24. Mexico City will also host multiple games during the first and second rounds of elimination before the quarter finals.

Guadalajara, Mexico, will also participate in opening day excitement, hosting South Korea’s match against Czechia at 10 p.m.

This city will get a chance to host its home team when Mexico plays South Korea at 9 p.m. on June 18. It will also showcase a 10 p.m. match between Colombia and Congo on June 23, and an 8 p.m. game between Spain and Uruguay on June 26.

No games beyond the group stage will be played here, and safety concerns due to persisting cartel violence hover over the festivities.

Monterrey is the third location south of the border to host the World Cup. It will host Tunisia for two games: the first is against Sweden at 10 p.m. on June 14, and the second is against Japan at midnight on June 21. It’ll then host South Korea against South Africa at 9 p.m. on June 24, and then multiple games in the round of 32 and round of 16.

United States

Los Angeles gets the honor of being the World Cup’s first stop in the United States, with Team USA facing off against Paraguay at 9 p.m. on June 12.

Secretary of State Marco Rubio is scheduled to lead a delegation to the game that includes Secretary of Transportation Sean Duffy and Secretary of Homeland Security Markwayne Mullin. The State Department said that Rubio would meet with Paraguay’s President Santiago Peña “to advance the U.S.-Paraguay strategic partnership spanning regional security, trade and investment, and emerging technology.”

Los Angeles is also set to host Iran’s national team on June 15, just as the armed conflict between its Islamic regime and the United States appears to be ramping back up.

World Cup matches will take place in 10 other cities and regions across the United States, including Atlanta, Miami, the San Francisco Bay Area, New York/New Jersey, Houston, Dallas, Kansas City, Seattle, Boston, and Philadelphia.

The defending champions, Argentina, and its iconic superstar Lionel Messi, will make their debut in Kansas City against Algeria at 9 p.m. on June 16.

World Cup quarter-finals will be held in Boston, Los Angeles, Miami, and Kansas City, while the semi-finals will be played in Dallas and Atlanta.

The World Cup final will be played at Met Life Stadium in New Jersey, the home of the New York Giants and the New York Jets. The play-off for third place will take place in Miami.

Canada

North of the border, Toronto and Vancouver will also host some games. Team Canada will play the first game in Toronto against Bosnia and Herzegovina at 3 p.m. on June 12, and then Australia will kick things off in Vancouver against Turkey at midnight on June 14.

Both cities will also host games during the first two elimination rounds.

Millions Coming From Around the World

An estimated 6.5 million people are expected to attend the World Cup games, with 40 percent of the fan base coming from outside the host countries.

Traveling fan groups were expected to come from World Cup staples like Brazil, Argentina, England, and Germany. Scotland’s 10,000-strong “Tartan Army” is also expected to make a comeback as their team qualifies for the first time since 1998.

Social media has already been filled with posts made by visiting Europeans finding new appreciation for different aspects of America in the lead-up to the games.

But the expected influx of visitors has triggered a need to increase the level of security as people gather to cheer on their team and celebrate the tournament.

FBI Director Kash Patel promised that his agency, alongside the Department of Homeland Security and law enforcement, will provide the “full range of counterterrorism expertise” to “ensure the safety of players, fans, and all Americans and visitors during the tournament.”

Canada announced it would spend up to $145 million in federal funding on increased security in Toronto and Vancouver for the World Cup.

Meanwhile in Mexico, more than 100,000 police officers, National Guardsmen, soldiers, and marines were expected to be deployed to its three host cities. Guadalajara alone has received more than 15,000 security officers after the city became the setting of deadly cartel activity in February with the killing of the head of a major cartel.

Who Will Win?

Jan Hatzius, chief economist and head of global investment research at Goldman Sachs, published a cheat sheet for clients that used a forecasting model built around Elo ratings - the ranking system originally developed for chess - to handicap the tournament. His top pick diverges from the latest Polymarket odds, with Hatzius placing Spain at the top of the list as the most likely World Cup winner.

"The model says that Spain has a 26% probability of winning the trophy, followed by France at 19%, Argentina at 14%, Brazil at 8%, and England at 5%," Hatzius said.

He noted, "Spain is predicted to win because it has the highest Elo ranking, supported by scoring talent and good momentum into the competition. Argentina is penalised by the "winner's slump", i.e. the statistical underperformance of reigning champions in the following World Cup; France suffers from likely facing top-ranked Spain in the semifinals; and England underperforms its Elo rating given historical tournament disappointment, geographical headwinds (likely facing Mexico in high-altitude Mexico City), and a slightly unlucky draw." 

Hatzius built a regression model to estimate how many goals each team is likely to score against another, using nearly 20,000 international matches since 1978. The model shows a steep decline in goal scoring, with much of it occurring after World War II.

Elo measures national team strength based on results and opponent quality, updating as teams win, lose, or draw. By this metric, Hatzius and his team place Spain No. 1, ahead of Argentina and France, which differs slightly from FIFA's official men's rankings.

Most Likely Predicted Group Stage Results

Road To Winner

Unlike our previous notes on Goldman's World Cup probabilities in 2022, 2018, and 2014, the rise of Polymarket has changed the betting game, bringing prediction markets directly into the sports-betting mainstream.

The latest Polymarket odds show Spain at 17%, France at 16%, and England at 11%...

...putting market pricing in line with Goldman's model, which ranks Spain as the winner.

Professional subscribers can read the full World Cup note here at our new Marketdesk.ai portal. 

Tyler Durden Thu, 06/11/2026 - 12:40

Emails Show Senior DOJ Officials Questioned Biden-Era Memo To Probe School Board Threats

Authored by Matthew Vadum via The Epoch Times,

Internal emails from the Biden-era Department of Justice (DOJ) show that senior officials objected to then-Attorney General Merrick Garland’s plan to use the FBI to investigate parents opposed to school policies.

Critics at the time said the policy change, which was contained in a memo signed by Garland, was calculated to intimidate parents protesting policies such as mask mandates and curriculum. Many of those who protested the memo were themselves heavily criticized by memo supporters.

The DOJ’s internal communications suggest that top officials in the DOJ opposed the policy days before it was publicly unveiled.

A DOJ source who did not wish to be identified confirmed to The Epoch Times late on June 10 that the emails, posted on X by independent journalist Lara Logan, were authentic.

The controversy itself goes back almost five years. Garland released a memo on Oct. 4, 2021, that called for federal law enforcement to deal with harassment and threats of violence allegedly made against school board members, teachers, and school employees.

“Threats against public servants are not only illegal, they run counter to our nation’s core values,” he said at the time.

“The Department takes these incidents seriously and is committed to using its authority and resources to discourage these threats, identify them when they occur, and prosecute them when appropriate,” he wrote in the memo.

In an email thread dated two days before that, senior DOJ officials discussed the upcoming shift in enforcement focus.

Minutes after Associate Deputy Attorney General Kevin Chambers advised his colleagues of the policy change, they began to push back.

Acting Assistant Attorney General for the Criminal Division Nicholas McQuaid wrote, “I strongly object to adding school official threats to the USAO meetings,” referring to meetings of the U.S. Attorney’s Office, a subagency of the DOJ that represents the federal government in court.

“They are not equivalent and treating them as such will damage our election threats work without actually having any real benefit in my view.”

Deputy Assistant Attorney General Kevin Driscoll wrote:

“I don’t think it’s possible to state how strongly I object to this.

“It will completely and totally nuke our election threats efforts, and will damage the reputation of the Public Integrity Section into the bargain.

“It’s like [they’re] affirmatively trying to make this thing not work and look political. If they do this, they might as well rename the damn thing the Anti-MAGA Task Force.”

Corey Amundson, head of the DOJ’s Public Integrity Section, replied:

“Exactly! Stupid, stupid, stupid.”

Driscoll answered, writing, “We will not do this. There is no conceivable connection to [Public Integrity Section] (indeed, I’m not seeing a federal interest of any kind). And if they’re going to make the AG’s memo to the field about this and election threats, I’m going to strongly recommend that they not send it.”

Amundson replied, saying, “Agreed. Also, makes no sense to have DOJ/FBI suddenly become the threats police. No limiting principle at all.”

Months after the memo was released, Senate Judiciary Committee Republicans, led by Sens. Charles Grassley of Iowa and Marsha Blackburn of Tennessee, asked detailed questions concerning federal targeting of parents who voice their opinions at local school board meetings.

The 11 Republican lawmakers on the committee told then-Secretary of Education Michael Cardona in a Jan. 18, 2022, letter: “We recently learned that you may have requested that the National School Boards Association (NSBA) send to President [Joe] Biden its September 29, 2021, letter, which compared concerned parents speaking out at local school boards to domestic terrorists.

“That letter was the proximate cause of Attorney General Garland issuing a memorandum on October 4, 2021, directing the FBI and the various U.S. Attorneys to focus on harassment, intimidation, and threats of violence directed at school officials.

“That action by Attorney General Garland has created a dramatic chilling effect on parents throughout the country and is an inappropriate deployment of federal law enforcement.”

Tyler Durden Thu, 06/11/2026 - 12:20

Cato Vs Heritage: Should the U.S. Go to War if China Invades Taiwan?

LIVE:

https://t.co/SyvVxuu7Gt

— zerohedge (@zerohedge) June 11, 2026

************************

While President Trump has softened his rhetoric on China since his recent visit to Beijing, he has continued to keep the answer to one question close to his chest: would the United States go to war to defend Taiwan if China attempts to seize the island by force?

Though perhaps a better question is Should we? Tonight, the Cato Institute and Heritage Foundation join ZeroHedge Debates to tackle that question.

Taking the case against military intervention is Cato’s Doug Bandow, who argues that a war with China over Taiwan would impose enormous costs on the United States while serving interests that are ultimately peripheral to American security, and well… there’s the risk of nuclear war.

Advocating intervention is Steve Yates of Heritage, who contends that abandoning Taiwan would shatter U.S. credibility throughout Asia, embolden Beijing, and fundamentally alter the global balance of power in China's favor.

Our returning host David Rand of the Human Reaction podcast will ask whether Taiwan represents a vital American interest or a dangerous strategic tripwire. And, assuming Taiwan is a vital interest, is diplomacy superior to provocative acts (ie arms packages) in the name of “deterrence”?

Despite Trump’s and Xi’s shared kind words, the U.S. approved an $11 billion arms package for Taiwan last December. There was to be another package amounting to an additional $14 billion, which was recently paused amid the Iran war, sending hawks into a frenzy. 

Debaters will also address the once-controversial Pentagon policy paper recommending the U.S. military blow up Taiwanese chip manufacturing plants in the event of a Chinese invasion… something the current #3 at the Pentagon, undersecretary of war for policy Ebridge Colby, called “table stakes”:

Disabling or destroying TSMC is table stakes if China is taking over Taiwan. Would we be so insane as to allow the world's key semiconductor company fall untouched into the hands of an aggressive PRC?

Taiwanese should realize that would be *the least* of their problems. https://t.co/Z8qmKxjWe9

— Elbridge Colby (@ElbridgeColby) February 24, 2024

Elbridge is the grandson of former CIA Director William Coby.

The debate begins tonight at 7pm ET, here on the ZH homepage, X feed, and YouTube and will also stream on the Human Reaction podcast.

Tyler Durden Thu, 06/11/2026 - 12:00

Pentagon Lockdown: Multiple Floors Evacuated Over Hazardous Materials Air Quality Incident

Several floors and corridors of the Pentagon were locked down and partially evacuated Thursday morning following the detection of a hazardous materials incident and air quality concerns, according to officials and multiple reports.

What we know...

• Floors 2 through 5 in corridors 4 through 7 are currently locked down.
• Personnel observed wearing gas masks and full chemical protective gear.
• Pentagon Force Protection Agency’s HazMat team, along with Arlington County Fire Department, are on scene.
• Shelter-in-place order issued for affected areas; additional testing underway (estimated 1–2 hours).
• No injuries reported at this time.

Pentagon spokesman Sean Parnell confirmed that building systems detected an air quality issue, triggering standard hazardous materials response protocols. Response teams are actively investigating the source.

NEW: Pentagon employees have received the following notice this morning as the building has gone on lockdown due to a hazmat-related situation. pic.twitter.com/yCDEmpg7mc

— Aaron Parnas (@AaronParnas) June 11, 2026

Developing...

Tyler Durden Thu, 06/11/2026 - 11:20

House Rejects Short-Term Spy Law Extension As GOP Races To Preserve FISA Surveillance Tool Before Friday Deadline

Update (1100ET): A key spy law could expire after the House blocked its short-term reauthorization.

The June 11 vote set back an effort to renew Section 702 of the Foreign Intelligence Surveillance Act (FISA).

President Trump’s selection of Bill Pulte as acting director of national intelligence drove Democratic opposition to reauthorizing Section 702. Some Republicans have voiced concerns about how the authority, though targeted at foreigners abroad, enables the incidental warrantless surveillance of Americans.

The White House could attempt to bridge the gap with an executive order.

In a June 6 letter to the White House, Senate Intelligence Committee Chairman Tom Cotton (R-Ark.) and Senate Judiciary Chairman Chuck Grassley (R-Iowa) recommended such a course of action in anticipation of a possible lapse.

As American Greatness detailed earlier, The House is preparing to vote on a short-term extension of a key federal surveillance program after Senate negotiations stalled, setting up a battle over national security authorities that are set to expire this week.

House Speaker Mike Johnson, R-LA, announced Wednesday that the chamber will vote Thursday morning on a temporary reauthorization of Section 702 of the Foreign Intelligence Surveillance Act, extending the authority through July 2.

The vote comes ahead of a Friday deadline and follows resistance in the Senate, where Democrats blocked efforts to quickly advance a similar extension.

“We’re not having a great amount of confidence that they’re going to be able to get that done,” Johnson said of the Senate. “So, the House will once again do our job.”

The push for a short-term extension gained momentum after President Donald Trump urged Congress to act following a meeting with Johnson earlier Wednesday.

“FISA 702 is very important to our Military, and keeping the American People safe, especially during the World Cup and America250 Celebrations,” Trump wrote on Truth Social.

“If nothing is done, this important Law will expire this week. I am asking Congress to send me a short-term extension of FISA to provide time for the selection and confirmation of a permanent Head of the Agency,” the president added.

Section 702 has long been viewed by intelligence officials as a critical tool for gathering foreign intelligence and monitoring threats to national security.

However, the effort to extend the program has become entangled in a political dispute over Trump’s appointment of housing official Bill Pulte as acting director of national intelligence.

Senate Democrats have insisted they will not support a reauthorization agreement while Pulte remains in the position.

Johnson must also contend with opposition from conservative Republicans who have repeatedly called for reforms to the surveillance program. Several GOP lawmakers have argued that any extension should include a warrant requirement before federal agencies can access certain information.

Asked whether he would support the temporary extension, Rep. Tim Burchett, R-TN., said, “probably not,” citing the lack of a warrant provision.

If the House measure fails, Section 702 is expected to expire on June 12.

The timing has concerned supporters of the program because Congress is scheduled to leave Washington for a one-week recess after Thursday’s votes. Unless House leadership changes those plans, lawmakers would not return until June 23.

The recess would leave the surveillance authority inactive during a period that includes World Cup events expected to attract large international crowds as well as celebrations connected to America’s 250th anniversary.

Tyler Durden Thu, 06/11/2026 - 11:15

USPS Proposes Halting Mail Ballot Delivery To States That Refuse Voter Roll Verification

Via American Greatness,

The US Postal Service (USPS) has proposed a new rule requiring states to share voter information related to mail-in and absentee voting. The proposal follows a March executive order from Trump aimed at tightening regulations governing mail-in voting in federal elections.

Trump has made election integrity a central focus of his second administration, issuing executive orders designed to require proof of citizenship for voters and combat mail-in voting fraud. The administration has argued that stronger verification measures are necessary to restore confidence in elections and safeguard the voting process.

Several of those initiatives have faced legal challenges. Courts have blocked certain provisions, including proof-of-citizenship requirements, while appeals remain pending. Democratic-led states have also filed lawsuits challenging the administration’s mail-in voting policies.

As litigation continues, the Postal Service has moved forward with a proposal directing states and the USPS to coordinate on identifying eligible mail-in and absentee voters.

Under the proposed rule, states would submit lists of voters requesting mail-in ballots, along with personalized barcodes assigned to each ballot.

The Postal Service would then return a finalized “Mail-In and Absentee Participation List” to each state’s chief election official. The list would contain the names of approved voters and the corresponding ballot barcodes associated with each voter.

Under the proposal, only voters included on the final participation list would be eligible to receive mail-in or absentee ballots.

The USPS said the new system would help improve transparency and provide election officials and law enforcement with additional tools to verify election procedures.

“This provision will help determine adherence to federal law and facilitate law enforcement efforts,” the proposal states.

“For example, the provided lists will evidence how many ballots have been mailed, and allow law enforcement officials to compare the total number of mailed ballots to the total number of received ballots to detect potential issues meriting further investigation.”

Election integrity supporters argue that the process would create a clearer chain of custody for mailed ballots and help identify irregularities that might otherwise go undetected.

The Postal Service issued the proposal May 29, one day after Trump-appointed US District Judge Carl J. Nichols denied a request from Democratic plaintiffs seeking to block the administration’s mail-in voting executive order.

Nichols ruled that the challengers failed to sufficiently demonstrate that the order would cause “imminent and irreparable harm.”

The plaintiffs have appealed that decision, and the Postal Service proposal remains subject to ongoing legal uncertainty while the broader litigation proceeds.

Tyler Durden Thu, 06/11/2026 - 11:00

After SpaceX IPO, Jefferies Lays Out Five Takeaways For Space Boom Into 2030s

Friday’s SpaceX IPO will be a defining moment not only for capital markets but also for the booming space industry and Elon Musk’s broader industrial empire, which has catapulted America to the lead in the space race against Communist China and Russia.

Ahead of the four-times-oversubscribed SpaceX IPO, we explained to readers how to profit from the incoming data center boom in low-Earth orbit and broke down the mechanics of the IPO in an easy-to-understand format.

Next, we want to give readers the opportunity to understand where the space industry is headed to position bullish bets, as this industry will likely have tailwinds for years to come. It's all about following the money.

We are leaning on Jefferies analyst Aniket Shah’s Wednesday report, which provided a roadmap for understanding the space industry through five easy takeaways.

1. The global space economy has reached $600bn, potentially tripling to $1.8trn by 2035. Commercial activity accounts for 80% and spans satellite TV, broadband, GPS infrastructure, and satellite manufacturing. The remaining 20% is government spending. Within the investable "backbone" of physical infrastructure, state-sponsored spending is projected to grow faster than commercial, rising from $125bn to $320bn (+256%) vs $205bn to $435bn (+212%) for commercial over the next decade. Defense is the fastest-growing category within the space economy.

2. The US accounts for 60% of global government spending on space; China ranks second. US government space spending is ~$80bn, more than the rest of the world combined. China spends ~ $20bn, but this figure is not PPP-adjusted, meaning its effective spending power is materially closer to the US than the nominal gap implies. Japan is a notable third player, having designated space as one of Prime Minister Takeshi's 17 strategic sectors (see here & here). China has similarly identified space as a strategic area in its 15th Five-Year Plan (see here & here).

3. Space Force budget surged 40% in one year, fueled by the Golden Dome program. Golden Dome is a top strategic priority driving the budget surge. Golden Dome is a multi-layered missile defense initiative that integrates space-based sensors, interceptors, and AI-enabled command and control to address ballistic, hypersonic, and cruise missile threats. Space Force now commands ~$40bn and the Missile Defense Agency ~$10bn, totaling ~$50bn, far exceeding NASA's budget ($24.4bn).

4. SpaceX has captured a structural share of federal space dollars. It is NASA's largest commercial contractor and plays a critical role across launch services, communications, IT, and the broader data layer of the space architecture. The US government has effectively outsourced significant space activity to SpaceX, creating an inextricable linkage between federal spending priorities and the company's business.

5. US vs China: Moon Race 2.0 is accelerating. The rivalry plays out across three dimensions: lunar programs, global coalitions, and codified policies.

• Lunar programs: The US targets a crewed lunar landing by 2028 and a lunar outpost by 2030; China targets a crewed landing by 2030 and an outpost by 2035.
• Global coalitions: The US-led Artemis Accords have 67 signatories, while the China-Russia International Lunar Research Station coalition has <20.
• Codified policies: President Trump has issued executive orders on Iron Dome for America, commercial space competition, and ensuring US space superiority. China's 15th Five-Year Plan also prioritizes space competitiveness.

Now, let's visualize where the space industry is headed into the 2030s:

The global space economy has reached $600bn

The space economy is set to triple to $1.8trn by 2035

The US accounts for 60% of global space spending

National defense is reshaping the US space economy

Space Force budget surges 40%, fueled by Golden Dome

SpaceX has captured a structural share of federal space dollars

US vs China: Moon Race 2.0 is accelerating

Professional subscribers can read more on the space industry here at our new Marketdesk.ai portal.

Tyler Durden Thu, 06/11/2026 - 10:40

ActBlue CEO Pleads The Fifth During House Panel Hearing

Authored by Darlene McCormick Sanchez via The Epoch Times,

ActBlue CEO Regina Wallace-Jones invoked the Fifth Amendment on Wednesday before the House Administration Committee, surrounding reports that she may have misled Congress about how the platform vets foreign donations.

The U.S. Capitol building on June 9, 2026. Madalina Kilroy/The Epoch Times

Wallace-Jones had originally agreed to testify voluntarily before Congress concerning ActBlue's vetting process for foreign contributions to domestic candidates. But her attorneys requested a congressional subpoena on Monday, ahead of her June 10 testimony, according to committee lawmakers.

The House asked Wallace-Jones to testify after a recent New York Times report included memos from Covington & Burling, a law firm that worked for ActBlue, warning that she may have misled Congress about the process for screening overseas donations.

ActBlue is the dominant Democratic fundraising platform. In 2025 alone, the platform reported raising almost $1.8 billion from 52 million contributions, and Q4 that year marked the single-largest off-cycle quarter in ActBlue history.

Under federal election law, foreign nationals or those who are not permanent residents are forbidden to donate directly to federal candidates or political action committees.

Administration Committee Chairman Bryan Steil (R-Wis.) said only Americans should decide their elections during the hearing titled, "Preventing Fraudulent Donations: Transparency, Verification, and Accountability."

🚨 HOLY SMOKES. ActBlue just PLED THE 5TH and REFUSED to answer about getting foreign donations infiltrating US politics on behalf of Democrats

She wouldn't even refute getting RUSSIAN money! 🤯

ActBlue is a FRAUD group. Shut it down!

REP. JIM JORDAN: Your board chairman said… pic.twitter.com/iYfda3A6so

— Eric Daugherty (@EricLDaugh) June 10, 2026

"Ms. Wallace-Jones is here today because there's a significant concern that ActBlue may have allowed foreign donations on their platform, lied to Congress, and withheld responsive documents from a congressional subpoena," Steil said. "All three of those actions are illegal."

Steil said Wallace-Jones provided a 2023 letter to Congress stating that ActBlue prevents foreign donations by requiring donors with a foreign address to provide U.S. passport information. If a contribution appears to be from a foreign address, ActBlue contacts the donor to request U.S. passport information. The platform would then refund the contribution if ActBlue was unable to contact the donor.

"The New York Times reported that ActBlue's outside counsel determined those three steps are not always followed," Steil said.

Surrounded by attorneys, Wallace-Jones did not answer any questions posed during the hearing, citing the "attorney-client privilege and my Fifth Amendment rights under the Constitution."

Wallace-Jones wrote an opinion piece in The Washington Post that appeared on the day of her hearing, saying she would invoke her Fifth Amendment "rights against self-incrimination."

"This is a proceeding designed to build an illegitimate criminal case against us. I cannot and will not let my words be misused in that way," she opined.

Democrats on the committee called the hearing political theater and questioned why the Republican fundraising platform, WinRed, wasn't receiving equal scrutiny from Republicans.

"We're here because Republicans want to talk about ActBlue, not because they're serious about strengthening campaign finance laws or actually strengthening the abuse of fraud in this country," said Rep. Robert Garcia (D-Calif.), ranking member of the Oversight and Government Reform Committee.

Administrative Committee ranking member Joe Morelle (D-N.Y.) said Republicans are ignoring alleged problems with WinRed. He accused the platform of victimizing elderly Americans.

Morelle also requested a subpoena for Republican Texas Senate candidate Ken Paxton, who, as Texas attorney general, sued ActBlue in state court on April 20. The lawsuit alleged that the platform misleads consumers by illegally accepting fraudulent foreign donations for federal and state candidates.

ActBlue filed a countersuit on May 1 in the U.S. District Court for the District of Massachusetts, seeking to block Paxton's lawsuit. Attorneys for the platform asked a federal judge to declare Paxton's ongoing ActBlue investigation and lawsuit unconstitutional, alleging violations of the First and Fourteenth Amendments.

ActBlue accused Paxton of escalating his investigation after donations for James Talarico, his Democratic opponent in the Texas Senate race, surged.

Paxton responded on the day the suit was filed, saying in an X post that ActBlue was "trying to take [him] down."

U.S. Rep. Bryan Steil (R-Wis.) speaks at a hearing with the House Administration subcommittee on Elections in Washington on June 24, 2021. Anna Moneymaker/Getty Images Tyler Durden Thu, 06/11/2026 - 10:20

Bessent Pulls Trigger On Using Frozen Funds To Reimburse Gulf Allies: 'Iran Will Pay'

US Treasury Secretary Bessent announced on X Thursday morning that Washington is moving forward on a plan to compensate America's Gulf regional allies for damage sustained during Iranian counterattacks on their energy and civic infrastructure.

He made clear that any damage to Gulf allies would be paid for with frozen Iranian funds, which Tehran leadership has long blasted as blatant theft.

According to Bessent's latest announcement: "The Iranian regime will lose the zero-sum game it is playing." The Treasury Secretary listed out the following new policy and plan:

• Any damage it inflicts on our allies in the Gulf will be paid for with funds extracted from Iranian Accounts.
• Any tolls paid to the Persian Gulf Strait Authority will be offset by funds extracted from their accounts.
• Every attack Iran launches will only deepen the economic and financial consequences it faces.

via Reuters

Interestingly, there is implicit here a possible acknowledgement that US forces won't be able to immediately be able to stop Iran from enacting its toll collection protocol, which it has hinted is being done in coordination - or at least with an 'understanding' - from Oman, which itself has come under pressure from the Trump administration of late.

Over eighty oil, gas, and vital infrastructure facilities across the Gulf have been hit - with most of the attacks having occurred in March and April - with one recent report estimating up to $58 billion in damage. Iran has sought to justify these attacks as 'retaliation' for these Gulf countries hosting American bases during the US unprovoked assault on the Islamic Republic.

An unnamed US official had previously told ABC's Senior White House correspondent Selina Wang last weekend: "Treasury will utilize all tools available to allow Iranian assets to be made available to our Gulf allies to support rebuilding and repairs for any future damage caused by Iran."

"The Secretary has also directed his team to assess conditions amongst our Gulf allies and request comprehensive estimates of the costs associated with repairing damage Iran has inflicted since the start of the conflict," the source had added.

Also as part of that earlier reporting, it was revealed:

The Iranian assets could include frozen assets and ships the U.S. has seized. The administration is reaching out to Gulf allies right now and asking for their evaluation.

This is only likely to further derail efforts to get Tehran and Washington back to the negotiating table. Already the US has balked at Iran's own insistent it be given reparations for damage done.

Iran is meanwhile still demanding that its billions in funds long frozen by Washington be given back as part of a deal. The Trump administration has so far rejected this, at least in terms of its public-facing position.

Tyler Durden Thu, 06/11/2026 - 10:00

War And Piece

By Michael Every of Rabobank

Sorry, Bank of Canada (rates held at 2.25%), Chinese CPI and PPI (1.2% and 3.9% y-o-y headline) US CPI (0.5% m-o-m and 4.2% y-o-y headline, 0.2% and 2.9% core), and the ECB today: you all matter but are just pieces of the global picture one now needs to finish: the war vs. Iran.

Changing the recent pattern, President Trump said he would strike Iran again today and did. At time of writing, nearly 50 Tomahawk missiles had been fired alongside airstrikes against radar and drone installations, with a disputed report that a petrochemicals plant was also hit. Even by the standards of the ‘peacefire’ --which, as I’d argued yesterday morning, Iran’s leadership then agreed no longer suits them-- this is a major escalation.

However, the US is still holding back compared to what it can do militarily, and Israel is sitting on its hands. Notably, Trump told Fox News he has been in direct contact with senior Iranian leadership, a new development, and they had asked him to stop bombing: to which he claims he told them to sign the deal on the table, or on Thursday evening he will “Bomb the s**t out of them.” In other words, hits against infrastructure, energy, and nuclear sites, can’t be ruled out.

The immediate Iranian response has been to declare Hormuz entirely closed to all ships. However, despite the fact that Iran was prepared for these US strikes there have, as yet, been no successful counterstrikes against US bases in the Middle East or against GCC energy and water infrastructure. Will this happen with a lag? If not is Iran unable to do so, or just unwilling to? Equally, will Iran act with the Houthis to close the Bab-el-Mandeb and Red Sea, making this energy crisis far worse?

These are staggeringly important geopolitical questions on which global markets, and the BoC and Chinese and US inflation, will ultimately pivot.

So far, the market reaction has been relatively mild – oil only up around $2. Perhaps part of that is down to another piece of the Iran puzzle that has befuddled energy experts and visitors from outside the field – what is happening in terms of oil flows from Hormuz.

Trump had yesterday announced the US is taking “millions of barrels of oil” from Iran, causing the usual consternation. A breakdown of what he meant comes from shipping maven @mercoglianos, who argues the US secretly resumed Project Freedom to escort ships through Hormuz using autonomous vehicles, aircraft, and drones to escort ships through the southern Strait near Oman. Very Large Crude Carriers are exiting the Gulf, conducting ship-to-ship transfers to smaller tankers near Oman, then returning to pick up more oil. In that regard, oil can flow even as the number of ships stuck in the Gulf appears unchanged. War risk insurance, potentially provided by the US Development Finance Corporation, could be covering these few ships making the transits. Yet Iran has been targeting them and the US responding with airstrikes: the Apache helicopter just shot down, triggering a new US attack, was likely part of this operation.

Of course, what may have been happening invisibly, despite 24/7 market coverage, can’t compensate for normal Gulf flows, which is why the plunge in the US and Japan’s SPR and a huge drop in China’s oil imports --none of which are sustainable-- are doing the heavy lifting to keep oil below $100. That dynamic always pointed to escalation: will it be military now, via the US; with others later as more energy panic kicks in; or via more backchannel diplomacy from China? 

Regardless, it’s hard to make economic or central bank forecasts without one for the Iran War, as the FT says airlines are drawing up cuts for an 'ugly' winter’ due to stubbornly high jet fuel prices; Reuters notes global container shipping rates are soaring and “Fuel analysts and maritime experts warn it could take around a year for bunker fuel supplies to return to normal even if Trump is able to quickly clinch an Iran deal”; and the UK Telegraph argues farmers may have to stop planting crops without government support.

But geopolitics and geoeconomics are to the fore everywhere and it’s not only energy and petrochemicals being squeezed.

In the Middle East, Turkey’s President Erdogan claimed Israel’s strikes on Lebanon and Syria threaten it and “its aggression must be stopped”, after talking about the liberation of Jerusalem. Israel’s diplomatic response was equally undiplomatic; Saudi Arabia resumed imports from Lebanon after a five-year hiatus; and a Saudi-Turkey rail link may be completed within three years.

In the Americas, Trump suggested he may not renew the USMCA trade deal with Mexico and Canada; and US Secretary of War Hegseth warned Cuba that any arms procurement by it seen as threatening the US could invite a confrontation - we are talking about 1956 at the moment, so why not 1962 too?

In Europe, five capitals are reportedly calling to freeze voting rights for new EU members, radically changing the structure of the Union; Politico reports ‘French far-right firebrand’ Zemmour is embracing MAGA to try to pay political dividends at home ahead of the 2027 presidential election; and the South China Morning Post asks ‘As de-dollarisation trends persist, can the yuan take the euro’s place?’, meaning taking the #2 spot in global settlements from the single currency.

In Australia, the political scene continues to churn with talk of a ‘non-compete’ clause and voting preference deal between the centre-right Liberals and populist right One Nation that has suddenly soared in the polls.

In Asia, Taiwan fired US mobile missile launchers into the waters facing China for the first time as “a message of resolve”, according to the Wall Street Journal; the US has asked China to resume rare earth exports to Japan, which have been cut off, as Tokyo pivots to US tungsten scrap exports to fill that gap, and the Democratic Republic of Congo’s curbs on cobalt exports have sparked shortages for everyone, including China; Japan’s parliament passed a revised economic security law to support overseas projects (as Bloomberg asks ‘Who’s Afraid of ‘Japanese Neo-Militarism’? Nobody’ - that’s arguably not true; and BOJ Governor Ueda has been hospitalized and is expected to miss the June policy meeting. Get well soon and perhaps be can follow the Iran news from there.

Indeed, now back to whatever piece of the war you happen to be focusing on.

Tyler Durden Thu, 06/11/2026 - 09:40

Iran Threatens Elon Musk's Gulf-Area Starlink Ground Stations In Suspicious Timing Ahead Of SpaceX IPO

Summary:

• Iran Threatens Musk's Starlink Ground Bases In Gulf Area Ahead Of IPO  

• Massive SpaceX IPO Demand Coming From Gulf Sovereign Wealth Funds

IranIntlbrk is the X handle for Iran International's breaking-news account and cites Tehran-aligned Fars News Agency, stating that the Islamic Revolutionary Guard Corps has placed the economic interests of Elon Musk in West Asia, including Arab countries and Israel, under consideration on a new target list.

IranIntlbrk continued:

1. Fars News Agency reported that this action is under consideration following claims by the IRGC-affiliated outlet that the U.S. and Israeli militaries' use of infrastructure managed by Elon Musk, including Starlink, has been proven.

2. A media outlet affiliated with the IRGC wrote that Starlink's ground stations in Israel, Qatar, Jordan, the United Arab Emirates, and Oman, alongside SpaceX shareholders including the infrastructure of the two companies "Al-Fazabi" and "Exchange," are among the new targets of the Islamic Republic.

The IRGC's threat against Musk's Starlink ground stations (Starlink Gateways) across the region should come as no surprise. IRGC forces have already demonstrated a willingness to strike Gulf data centers, including the reported Shahed drone attacks on two AWS data centers in the UAE.

The timing of the IRGC's threat against Musk is notable. It comes one day ahead of the SpaceX IPO, suggesting Tehran is trying to remain relevant in the news cycle with another round of big-bad warnings aimed at U.S. tech giants, Gulf allies, and critical communications infrastructure.

Starlink Service Map

On Wednesday, we reported that massive demand for the SpaceX IPO was coming from Gulf sovereign wealth funds.

Also today, Treasury Secretary Scott Bessent wrote on X, "The Iranian regime will lose the zero-sum game it is playing. Any damage it inflicts on our allies in the Gulf will be paid for with funds extracted from Iranian accounts."

Massive SpaceX IPO Demand Coming From Gulf Sovereign Wealth Funds 

One week ago, SpaceX kicked off its institutional roadshow, headlined by JPMorgan CEO Jamie Dimon, who hosted a nationwide "live interactive discussion" with private wealth clients.

The latest signal of investor demand comes from the Gulf, where massive sovereign wealth funds are reportedly seeking allocations in the IPO ahead of its expected Friday debut, according to Bloomberg News.

The report says Saudi Arabia's Public Investment Fund and Kuwait Investment Authority have each placed orders for the IPO worth $1 billion to $5 billion, while the Qatar Investment Authority is also expected to make a significant commitment.

The report continued:

Entities based in the region are already prominent shareholders in Elon Musk's rocket, satellite and AI firm, and many are sitting on large paper gains based on the billionaire's targeted valuation of $1.8 trillion, the people said. It wasn't immediately clear how much of the planned outlay is intended to prevent dilution of existing stakes after SpaceX's listing.

The interest from the Gulf is part of a broader rush into the deal from global institutional investors, whose orders have exceeded the number of shares on offer. Some have bid for $10 billion or more of stock, Bloomberg News has reported, though the eventual allocations might be smaller.

In a separate report, Reuters says the IPO is three-and-a-half to four times oversubscribed, highlighting massive institutional demand for what is shaping up to be the largest listing on record and a defining moment for the space economy.

Elon Musk has joined several Zoom meetings with potential investors, while SpaceX President Gwynne Shotwell and CFO Bret Johnsen were expected to meet with roughly 300 institutional investors at a Morgan Stanley lunch in Manhattan.

Goldman Sachs was selected as the lead bank for the IPO, alongside Morgan Stanley. JPMorgan, Bank of America, and Citigroup are also among the 23 banks working on the deal, offering a staggering $75 billion by selling about 555.6 million shares. The planned IPO price is about $135 per share.

Why SpaceX's IPO Is drawing record investor demand...

We offered readers a complete deep dive into the mechanics of the SpaceX offering and how to trade the world's biggest IPO (read the report). SpaceX's underwriters have shut off investor access to the offering in China and Hong Kong, primarily due to regulatory and compliance concerns.

However, there is a concerted effort by unhinged leftist lawmakers (such as Elizabeth Warren) and left-wing pension funds to delay or deny the SpaceX IPO, mainly for political brownie points. They appear to view the sudden new wealth generated for Elon Musk (and his employees and investors) as absolutely horrifying...

NEW: Elizabeth Warren is calling for the SEC to delay the mega SpaceX IPO.

Warren cites concerns about "questionable valuation," governance structure & mandatory arbitration pic.twitter.com/4mQqzTtYRs

— Matt Egan (@MattEganCNN) June 10, 2026

... given that Musk is pro-humanity and seeks to liberate the world's minds from toxic progressive causes.

Tyler Durden Thu, 06/11/2026 - 09:26