Category: News
Armor-Piercing Ammo Metal Up 557% As China Chokes Supply, War Demand Surges
Armor-Piercing Ammo Metal Up 557% As China Chokes Supply, War Demand Surges
Tungsten, used in missiles, tank rounds, armor-piercing ammunition, and some smaller-caliber munitions, has surged in price over the last year as China curbed exports and global supplies tightened.
This is a major concern, as multi-front conflicts – from the Middle East to Eastern Europe – are depleting interceptor missile supplies.
Bloomberg cites new data from commodity price reporting agency Fastmarkets showing tungsten prices have surged to $2,250 per metric ton this month, up 557% since Beijing added certain tungsten products to its export control list in February of last year.
“In my 12 years working across the commodity space and dealing with a lot of weird and wonderful metals, I have never seen a market as tight as tungsten is right now, aside from maybe lithium in 2021,” George Heppel, vice president of commodity research, told Bloomberg.
He warned, “This isn’t like lithium, where there was a huge pipeline of projects that could come online.”
The problem with rare earth metals is that China dominates the global market. It controls roughly 79% of global tungsten mined output, which Western companies rely on heavily.
According to Project Blue, a London-based commodity research firm, manufacturers have been searching for alternative supplies since China significantly tightened export controls last year. Chinese shipments of restricted tungsten products were down about 40% last year, the firm said.
The tungsten squeeze highlights why the Trump administration has been furiously rewriting global supply chains away from China, especially with the push to build out domestic rare earth supply chains critical for the military and semiconductor industries.
“The industrial base is desperate for material,” said Almonty Industries CEO Lewis Black, whose firm is set to begin commercial production at the site of an idled mine in South Korea and is seeking to develop the first U.S. tungsten mine in a decade.
“We’ve never been in a situation where the market is determining the price,” Black said. “So we don’t really know where it’s going to settle.”
One year ago, Black warned his customer base was in a “state of disbelief” amid China’s tightening of global supplies.
“It’s the warning shot, because we cannot exist without it,” Black told Bloomberg’s Annie Lee in an interview at the time.
He noted: “Our economy, manufacturing, defense, everything, is so dependent on it. And yet, Russia, China and North Korea have about 90% of the output.”
Shares of Almonty in the U.S. are up 127% this year, as the market is waking up to the fact that this company is expected to become one of the largest tungsten producers outside China.
Almonty is also developing a U.S. tungsten project in Montana that it says could become the first U.S. tungsten mine in about a decade.
Military-related tungsten demand is set to surge this year because the metal is used in missile components and other weaponry deployed in the conflict zones of the Middle East and eastern Ukraine. Major U.S. defense companies have already signaled to the Trump administration that missile production will quadruple, putting even more pressure on critical metals.
Tyler Durden
Mon, 03/16/2026 – 16:50
“…The Entire Internet Has Doomer Fatigue”
“…The Entire Internet Has Doomer Fatigue”
Authored by James Howard Kunstler,
“I can tell the entire internet has doomer fatigue.”
– Catturd on X
The mysterious financial repo markets – which practically no one outside of banking understands (and even some banking insiders don’t) – started showing some signs of stress recently (forward rates spiking: 1Y1Y SOFR has risen nearly 50 bps in two weeks, signaling growing concern among dealers and investors about future funding costs); though not near the level they did in September 2019, just before You-Know-What sucker-punched the world with lockdowns, stolen elections, and fake vaccines. Half of America still hasn’t got its head straight… and here we go again.
The private equity outfits, like giant BlackRock, are wobbling so hard that they had to “gate redemptions” — meaning, investors can’t pull their money out of funds going dark with dubious collateral. It’s exactly what sparks panics. Money can only stand so much unreality. The Rube Goldberg machine of finance — a scaffold of insane complexity designed to bamboozle the rubes — is threatening to fly apart. The world only needs so many pre-owned yachts.
Plus, there’s a war on, which has disrupted the regular flow of the world’s primary resource: oil.
That’s the really-real side of the picture. The Strait of Hormuz remains closed.
You’ve got to wonder how much additional pounding the lunatic state of Iran can take.
It’s not clear who is even in charge there. Iran’s supposed foreign minister, one Aras Araghchi, is suddenly offering to give up those 440 kilos of 60-percent enriched uranium that are at the heart of this quarrel.
Sounds a little surrender-ish, though he made the offer with a certain defiant bluster. Let’s see where that goes.
Maybe the war will be over sooner than you thought.
Watch and listen starting at 13:00-minute Mark:
With all this in motion, things slip-sliding all over the place, the week ahead may be one in which nobody can think straight or get a straight answer.
Here’s something to chew on: do you think Great Britain is our dear friend because we speak the same language? Great Britain has been allowing Iran’s ruling Revolutionary Guard to park its money in London for half a century while Lloyd’s offers jacked-up insurance rates to all those tankers faring through the Strait of Hormuz.
This dynamic has made world oil up to 15-percent more expensive since the 1970s, and Britain’s banks have been creaming off the premium all the while. Trillions. Mr. Trump is putting an end to that racket while he also terminates Iran’s ability to export Jihad thuggery throughout the Middle East. That’s the meaning behind the Abraham Accords and the new Board of Peace set up to figure out Gaza — and probably to replace the broken United Nations as a mediating force in the region’s long-running conflicts.
Mr. Trump is also sending a message to China: the US will have something to say about the flow of oil going there out of the Persian Gulf, which is to say most of China’s imported oil. (The US imports relatively little oil out of the Persian Gulf, two to three percent of total US oil consumption which is 20-million barrels a day.) This is pretty serious power politics, but notice that China has not started World War Three over it. Mr. Trump and Xi are still talking, and are scheduled to meet in Beijing in April. Meanwhile, Xi is having plenty of trouble of his own with twitchy PLA generals, a staggering deflationary export economy, and a lot of angry young people thrown out of work.
One thing our country will not get a straight answer on this week is the SAVE Act. Senate Majority Leader John Thune made noises over the weekend about staging a half-assed “debate” on the floor, a demi-filibuster. . . then holding a guaranteed-to-fail cloture vote. . . making it impossible to reach a place where the bill might be subject to a simple majority vote. The procedural bullshit at issue is surely a challenge for the general voting public to understand. The bottom line is that Majority Leader Thune is entirely in-charge of the filibuster process and could make it work to advantage the SAVE Act if he wanted to. He could call for a full, “standing” filibuster that would require the bill’s opponents to explain themselves — that is, to explain why they prefer election fraud.
So, for now, the Save Act will fail to pass. The public will register the failure, if not the twisted route that got it there, and they will be mighty pissed-off. The really interesting part is what happens after all this is acted out, especially Senator Thune’s comic attempt to explain why he did this. And especially if, in the weeks just ahead, the nation watches federal indictments rain down for election fraud in Georgia, Wisconsin, and other states where so many weird things happened right before our eyes in November, 2020, 2022, and 2024. Sometime after that, the SAVE Act will come up for a vote again, and with a vengeance!
Tyler Durden
Mon, 03/16/2026 – 16:25
https://www.zerohedge.com/geopolitical/entire-internet-has-doomer-fatigue
“…The Entire Internet Has Doomer Fatigue”
“…The Entire Internet Has Doomer Fatigue”
Authored by James Howard Kunstler,
“I can tell the entire internet has doomer fatigue.”
– Catturd on X
The mysterious financial repo markets – which practically no one outside of banking understands (and even some banking insiders don’t) – started showing some signs of stress recently (forward rates spiking: 1Y1Y SOFR has risen nearly 50 bps in two weeks, signaling growing concern among dealers and investors about future funding costs); though not near the level they did in September 2019, just before You-Know-What sucker-punched the world with lockdowns, stolen elections, and fake vaccines. Half of America still hasn’t got its head straight… and here we go again.
The private equity outfits, like giant BlackRock, are wobbling so hard that they had to “gate redemptions” — meaning, investors can’t pull their money out of funds going dark with dubious collateral. It’s exactly what sparks panics. Money can only stand so much unreality. The Rube Goldberg machine of finance — a scaffold of insane complexity designed to bamboozle the rubes — is threatening to fly apart. The world only needs so many pre-owned yachts.
Plus, there’s a war on, which has disrupted the regular flow of the world’s primary resource: oil.
That’s the really-real side of the picture. The Strait of Hormuz remains closed.
You’ve got to wonder how much additional pounding the lunatic state of Iran can take.
It’s not clear who is even in charge there. Iran’s supposed foreign minister, one Aras Araghchi, is suddenly offering to give up those 440 kilos of 60-percent enriched uranium that are at the heart of this quarrel.
Sounds a little surrender-ish, though he made the offer with a certain defiant bluster. Let’s see where that goes.
Maybe the war will be over sooner than you thought.
Watch and listen starting at 13:00-minute Mark:
With all this in motion, things slip-sliding all over the place, the week ahead may be one in which nobody can think straight or get a straight answer.
Here’s something to chew on: do you think Great Britain is our dear friend because we speak the same language? Great Britain has been allowing Iran’s ruling Revolutionary Guard to park its money in London for half a century while Lloyd’s offers jacked-up insurance rates to all those tankers faring through the Strait of Hormuz.
This dynamic has made world oil up to 15-percent more expensive since the 1970s, and Britain’s banks have been creaming off the premium all the while. Trillions. Mr. Trump is putting an end to that racket while he also terminates Iran’s ability to export Jihad thuggery throughout the Middle East. That’s the meaning behind the Abraham Accords and the new Board of Peace set up to figure out Gaza — and probably to replace the broken United Nations as a mediating force in the region’s long-running conflicts.
Mr. Trump is also sending a message to China: the US will have something to say about the flow of oil going there out of the Persian Gulf, which is to say most of China’s imported oil. (The US imports relatively little oil out of the Persian Gulf, two to three percent of total US oil consumption which is 20-million barrels a day.) This is pretty serious power politics, but notice that China has not started World War Three over it. Mr. Trump and Xi are still talking, and are scheduled to meet in Beijing in April. Meanwhile, Xi is having plenty of trouble of his own with twitchy PLA generals, a staggering deflationary export economy, and a lot of angry young people thrown out of work.
One thing our country will not get a straight answer on this week is the SAVE Act. Senate Majority Leader John Thune made noises over the weekend about staging a half-assed “debate” on the floor, a demi-filibuster. . . then holding a guaranteed-to-fail cloture vote. . . making it impossible to reach a place where the bill might be subject to a simple majority vote. The procedural bullshit at issue is surely a challenge for the general voting public to understand. The bottom line is that Majority Leader Thune is entirely in-charge of the filibuster process and could make it work to advantage the SAVE Act if he wanted to. He could call for a full, “standing” filibuster that would require the bill’s opponents to explain themselves — that is, to explain why they prefer election fraud.
So, for now, the Save Act will fail to pass. The public will register the failure, if not the twisted route that got it there, and they will be mighty pissed-off. The really interesting part is what happens after all this is acted out, especially Senator Thune’s comic attempt to explain why he did this. And especially if, in the weeks just ahead, the nation watches federal indictments rain down for election fraud in Georgia, Wisconsin, and other states where so many weird things happened right before our eyes in November, 2020, 2022, and 2024. Sometime after that, the SAVE Act will come up for a vote again, and with a vengeance!
Tyler Durden
Mon, 03/16/2026 – 16:25
https://www.zerohedge.com/geopolitical/entire-internet-has-doomer-fatigue
Guess What Ireland’s President Said About St. Patrick’s Day…
Guess What Ireland’s President Said About St. Patrick’s Day…
Authored by Steve Watson via Modernity.news,
Irish President Catherine Connolly marked her first St. Patrick’s Day in office with a message that reframed Ireland’s patron saint as a symbol for open borders and ‘global citizenship’, urging the Irish to embrace migrants amid ongoing surges in arrivals that have sparked nationwide tensions.
In a video address, Connolly drew parallels between St. Patrick’s enslavement and modern migration, calling for hospitality toward those displaced by war and persecution—conveniently overlooking how mass influxes of economic migrants have overwhelmed Irish communities and resources.
The full message, delivered against a backdrop of Irish and other flags, emphasized St. Patrick’s story as “a reminder of the resilience and courage of migrants, the invaluable contributions that they have made, and continue to make, to the countries they now call home, sometimes even in the face of great adversity.”
NEW – Ireland’s President urges “global citizens” to acknowledge their “shared responsibility” to invoke St. Patrick’s spirit, by standing in solidarity with migrants and to recognise “the invaluable contributions” they make.pic.twitter.com/Tk98m2eUiX
— Disclose.tv (@disclosetv) March 16, 2026
Connolly went on: “Patrick’s story speaks not only to the Ireland of the 5th century, but to the millions still subjected to trafficking, forced labour and displacement today.”
She added, “As we recall the life of Patrick, we invoke his spirit and acknowledge our shared responsibilities as global citizens. We stand in solidarity with those who find themselves in vulnerable and dangerous circumstances.”
The president wrapped up by stressing, “Patrick’s story invites us to respond with hospitality and kindness to those suffering the consequences of war and displacement, those fleeing their countries because of persecution or violence.”
This pivot comes as Ireland ramps up immigration reforms in 2026, including higher salary thresholds for work permits, digitalized processes, and faster citizenship paths for those granted international protection—moves that critics say prioritize foreigners over native Irish struggling with housing shortages and cultural erosion.
The government’s Budget 2026 poured funds into modernizing the system, aiming to streamline legal access for more migrants while protests against accommodation centers continue to simmer across the country.
The message quickly drew fire on X, where users slammed it as a betrayal of Irish identity in favor of globalist talking points.
One poster fired back: “The spirit is St Patrick? Wasn’t he the guy who ‘Chased the SNAKES out of Ireland?!?’ Don’t you see the similarity here?”
Another echoed: “St. Patrick chasing the snakes out of Ireland is not a metaphor for being friends and surrendering Ireland to foreign invaders.”
These reactions highlight growing frustration with leaders who seem more eager to virtue-signal on the world stage than protect their own country’s sovereignty and traditions.
Connolly’s address also touched on Ireland’s neutral stance and commitment to peace, claiming the nation is “uniquely placed” to address global challenges due to its history of famine and migration. But such rhetoric rings hollow as domestic unrest over immigration boils over, with recent changes easing pathways for newcomers while native concerns go unheeded.
This address reeks of complete capitulation. St. Patrick’s Day is supposed to honor Irish patriotism, not serve as a platform for diluting national pride under the guise of “hospitality.” If Ireland wants to preserve its heritage, it’s time to chase out the globalist snakes eroding it from within.
Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.
Tyler Durden
Mon, 03/16/2026 – 15:45
https://www.zerohedge.com/geopolitical/guess-what-irelands-president-said-about-st-patricks-day
Nvidia Shares Pump & Dump After CEO Jensen Expects “At Least” $1 Trillion In Revenue By 2027
Nvidia Shares Pump & Dump After CEO Jensen Expects “At Least” $1 Trillion In Revenue By 2027
Summary:
CEO Jensen began discussing all things AI around 1520 ET.
CEO Jensen said the data center AI opportunity will grow from half a trillion dollars to $1 trillion by 2027. CEO Jensen said, “Computing demand has increased by 1 million times in the last two years.”
A graphic on screen indicated that 60% of the business is hyperscalers.
CEO Jensen said, “We are now a computing platform that runs all of AI.”
CEO Jensen said, “Our cost per token is the lowest in the world.”
Nvidia unveiled the new Vera Rubin program.
* * *
Nvidia CEO Jensen Huang is speaking at the GTC 2026 in San Jose, California, about the company’s AI expansion.
Huang said the data center AI opportunity is growing from about half a trillion dollars to more than $1 trillion by 2027. He said that 60% of the company’s business comes from hyperscalers, adding that 40% is everything else, clouds, enterprise, robotics, gaming, supercomputing, etc.
The graphic shows that much of the demand is driven by model builders and AI companies such as Anthropic, xAI, Gemini, and OpenAI.
“We are now a computing platform that runs all of AI,” the CEO said.
The presentation initially sent Nvidia shares up as much as 4.8%, while the Nasdaq also moved higher, but most of those gains have now been erased.
A round trip for Nvidia shares.
Other highlights of Jensen’s presentation include…
Jensen says, “computing demand has increased by 1 million times in the last 2 years.” Hints at the current memory shortage created by the AI buildout of data entry.
On Tokens per watt: Jensen said, “Nvidia AI GPUs that can quickly get through more tokens than the competition.” He noted, “This is your revenue. Our cost per token is the lowest in the world.”
Nvidia unveils the New Vera Rubin program. It’s the company’s latest AI platform for AI data centers that is “vertically integrated completely with software.
Watch Jensen live here:
Developing…
Tyler Durden
Mon, 03/16/2026 – 15:32
Cuba Suffers “Total Disconnection” Of Power Grid; Trump Says Deal With Havana ‘Pretty Soon’
Cuba Suffers “Total Disconnection” Of Power Grid; Trump Says Deal With Havana ‘Pretty Soon’
Summary:
Cuba’s National Electrical System suffered a “total disconnection” on Monday afternoon.
Trump said on Sunday that he expects a U.S.-Cuba deal very soon.
Cuban President Miguel Díaz-Canel admitted on Friday that talks between Havana and Washington are underway.
Cuban fuel supplies are dangerously low amid Trump’s crude import blockade.
* * *
Cuba’s National Electrical System has suffered what the country’s Energy Ministry called a “total disconnection,” and the causes are being investigated. This comes as Trump’s blockade of crude oil imports to the Caribbean island has reduced fuel stockpiles to dangerously low levels.
“A total disconnection of the SEN has occurred. The causes are being investigated, and protocols for restoration are being activated,” the Energy Ministry said on X around 1400 ET.
Earlier, we reported that Trump is in talks with Cuba and that a deal could be reached soon.
Over the weekend, Cuban President Miguel Díaz-Canel publicly admitted for the first time that Havana was in talks with Washington.
* * *
As Aldgra Fredly detailed earlier for The Epoch Times, U.S. President Donald Trump said on March 15 that the United States is in talks with Cuba and expects to reach a deal with the communist-ruled country soon.
Trump told reporters aboard Air Force One that “something will happen with Cuba pretty quickly,” and that Washington will decide on Cuba after dealing with the war in Iran.
Trump on Jan. 11 told Cuba to strike a deal after U.S. forces captured Venezuelan leader Nicolás Maduro in a Jan. 3 operation. Cuba has long been a close ally of Maduro’s regime and has relied on Venezuela’s oil supply for decades.
After Maduro’s ouster, interim Venezuelan leader Delcy Rodríguez redirected oil deliveries to the United States.
“Cuba also wants to make a deal, and I think we will pretty soon either make a deal or do whatever we have to do,” Trump told reporters on March 15. “And so, we’re talking to Cuba, but we’re going to do Iran before Cuba.”
On Jan. 29, Trump signed an executive order imposing tariffs on any country that “directly or indirectly provides oil to Cuba,” a move that exacerbated fuel shortages in the Caribbean island nation.
In his order, Trump accused the Cuban regime of aligning itself with “hostile countries, transnational terrorist groups, and malign actors,” including Russia, China, and Iran, as well as U.S.-designated foreign terrorist groups Hamas and Hezbollah.
Cuban leader Miguel Díaz-Canel Bermúdez said on March 13 that his government has been negotiating with U.S. officials to identify and resolve any bilateral issues between the two nations.
“These conversations have been aimed at seeking solutions, through dialogue, to bilateral differences that exist between the two nations,” Bermúdez said, according to a statement posted by Cuban Foreign Minister Bruno Rodríguez Parrilla on social media. “There are international factors that have facilitated these exchanges.”
Bermúdez said his officials have expressed that negotiations must be held “on the basis of equality and respect for the political systems of both states,” as well as their sovereignty.
“This is a matter that unfolds as part of a very sensitive process that is conducted with seriousness and responsibility, as it affects the bilateral relations between the two nations and requires enormous efforts to find solutions and create spaces for understanding that allow us to move away from confrontation,” he said.
Trump said last week that Cuba currently faces severe humanitarian challenges amid disruptions in imported oil and is eager to negotiate with the United States. He also said there could be a “friendly takeover” of the nation, but also said that “it may not be a friendly takeover.”
Tyler Durden
Mon, 03/16/2026 – 15:25
https://www.zerohedge.com/geopolitical/trump-says-us-could-reach-deal-cuba-pretty-soon
Silver’s Endgame: Almost Too Obvious
Silver’s Endgame: Almost Too Obvious
Authored by Matthew Piepenburg via VonGreyerz.gold,
The case for silver is now almost too obvious.
Silver’s Fat Pitch
Like many Americans, I grew up playing a fair amount of baseball. Part of this involved trying to hit a little round ball with the equivalent of a modified, wooden stick.
Like asset prices and market forces, this little white ball, thrown by a pitcher 60 feet away, could sink, curve or speed by you in bewildering and often embarrassing ways.
Sometimes, however, we hitters of that ball would be blessed with what is called a “fat pitch”—that is, a ball thrown so comfortably straight, clear and trackable that it was effectively impossible to miss.
Below, I’ll show why the set-up we are currently seeing in the global silver market is precisely that: A fat pitch.
Prior Silver Curve Balls
Of course, silver markets, like baseball players, have also seen a lot of curve balls and crazy swings.
We saw recent versions of this in December of 2025, when the COMEX price-fixers, with a little help from the Chicago Mercantile Exchange, or CME, raised margin prices to force a mass-selloff (i.e. price-fall) of the metal.
When that pitch failed, the COMEX threw another, far more effective margin hike (or “curve ball”) in late January of 2026 to openly engineer the single-worst silver price crash in 44 years.
The reasons for these tricky pitches at the COMEX were obvious. The big players (i.e., banks) going net-short silver were literally dying under the weight of silver’s rising price moves.
Not so coincidently, the CME/COMEX then initiated another, more effective, margin hike and thereby bailed the insider banks out of the mother of all short-squeezes.
There was no price discovery, but blatant price manipulation, as fixed/rigged as the 1919 World Series. (Ironically, both the CME and the cheating, 1919 White Sox hailed from Chicago…)
But as I argued in January, such a rigged game was nothing new. The COMEX has been playing it for decades, from defeating the Hunt Brothers’ silver bid in the 1980’s (with a sell-only trick) to crushing the “Reddit mob’s” attempt to bring honest demand (and pricing) to silver in 2021.
In short, the COMEX, and the banks who effectively self-regulate it, threw a lot of curve balls which were difficult to beat.
But as we enter the 2026 macro playing field, it is the COMEX itself which is about to strike out, and this bodes extremely well for silver.
Here’s why.
Silver: About to Hit a Homerun
The set-up for silver is now nothing short of extraordinary. In fact, it is unprecedented.
At 30,000 feet, the big picture remains the same. That is, as currencies are debased to monetize unsustainable sovereign debt levels, monetary metals like silver outshine dying paper currencies.
It’s really that simple.
But the more nuanced, and often misunderstood, tailwinds for silver are a bit more complicated, though entirely clear once you know where to look.
And the first place to look is at the COMEX itself, where silver (like gold) has been manipulated downwards for decades. We’ve covered the motives, means and symptoms of this COMEX price fix in greater detail elsewhere.
What is worth noting here, however, is critical. That is, once the physical silver leaves the COMEX, the artificial price-fixing charade ends, and silver naturally rips higher.
Paper Claims vs. Physical Demand
Traditionally, for example, paper claims on silver (and gold) never resulted in actual delivery out of the COMEX. Instead, the contracts were simply rolled over or cash-settled.
But those days are ending.
As of this writing, there are more paper claims (“open interest) on the COMEX silver exchange than there are actual ounces of “registered” silver to meet delivery. In fact, there’s only about 80 million ounces on hand to meet over 570 million ounces of delivery demand.
That’s a levered mismatch of 7:1 at the COMEX.
If we then consider the larger silver market itself, including ETF silver, derivative claims, futures contracts, etc., many analysts in the commodity space are quoting the number of paper silver claims to actual silver ounces at a ratio of 350:1.
Read that last line again.
No Chairs Left
If one were to think of the paper silver market as a game of musical chairs in which the “music” represents the actual amount of physical silver available and the “chairs” represents the number of paper claims on it, the supply & demand ratios above make it mathematically clear that once the music stops, there’ll be very chairs left standing with silver.
Or stated more simply, percolating physical silver demand is about to hit a supply shock, which means silver is poised to skyrocket.
And if you look at the COMEX silver flows, you’ll quickly discover that the music is slowing down.
January applications for silver deliveries at the COMEX, for example, came in at 40M ounces, which was 40X the normal delivery rate.
A more recent delivery took 20% off the COMEX inventory in a week. (I have no proof, but I’m guessing the buyer here was JP Morgan…)
Looming Delivery Failure
At this exit pace, it’s at least plausible that the COMEX could see a bald failure of physical delivery within 90 days.
In such an event, the COMEX silver trade would be reduced to a cash-only trade, a possibility I warned of in January.
But this, of course, would only happen if one assumed the COMEX wouldn’t declare some kind of emergency in the interim, which we can be almost sure they will…
Nevertheless, the screws are now undeniably tightening on this New York exchange in ways we’ve never seen before.
This classic mismatch of supply and demand in the silver space is unprecedented, and whether the price-fixers in New York like it or not, supply and demand forces still matter, and they can be powerful forces…
Supply Deficits Colliding with Rising Demand
For example, and as most silver investors know, this metal has seen five consecutive years of supply deficits at 200M ounces/year, now aggregating to a deficit of nearly 1 billion ounces. China’s recent export restrictions for silver, moreover, aren’t helping supply flows.
Meanwhile, in the silver future’s market, we are seeing backwardation, a fancy way of saying that current prices are higher than future prices, which is a screaming signal of high demand colliding with low supply.
These factors help explain why the current lease rate for silver is at 8% levels, whereas for the bulk of my entire investing career, the lease rate had never surpassed 1%– until now.
Combine such evidence of a supply shock with silver’s rising industrial demand (60% of silver’s demand is industrial) in everything from solar panels to the missiles now cris-crossing Middle Eastern skies, and we see all the makings of a historical price hike in the metal.
After all, the silver supply can’t be magically increased with just the touch of a button. 70% of silver production comes as a byproduct of other mining.
This means there’s no silver supply miracle on the horizon.
And Then There’s War…
What IS filling our horizon, however, is the fog of war and hence the fog of oil. Supply shocks matter to oil just as much as they do to any asset, including silver.
As crude oil rises thanks to tightening flows in the Strait of Hormuz, so does inflation, and for every $10.00 rise in oil, we see a 0.1% rise in even our otherwise openly bogus inflation scale.
And as inflation rises, as it will, the monetary profile of silver just gets another tailwind as an anti-fiat metal.
Back to Baseball
Which brings me back to my original point and metaphor.
When one combines silver’s monetary profile with its rising industrial demand in a backdrop of historical supply deficits, COMEX delivery failures, rising lease prices, futures market backwardation, and all that is inherently backward as to war and rising oil, we arrive at what comes to nothing more than an unprecedented “fat pitch” for silver.
Batter up.
Tyler Durden
Mon, 03/16/2026 – 14:40
https://www.zerohedge.com/precious-metals/silvers-endgame-almost-too-obvious
Marjorie Taylor Greene Tells CNN That MAGA Feels ‘100% Betrayed’ By Iran War
Marjorie Taylor Greene Tells CNN That MAGA Feels ‘100% Betrayed’ By Iran War
Former Rep. Marjorie Taylor Greene has become a big fan of CNN since her departure from Congress since, we’re guessing, FOX and Newsmax aren’t excited to give her a platform of late. On Monday, she appeared on The Situation Room to once again declare doom and gloom for the MAGA movement… with a little help from the host.
During the interview, host Pamela Brown asked what she’s hearing from Trump supporters in Georgia regarding Iran, playing up the Israel angle.
“Are you hearing from them that they believe President Trump is doing this on behalf of Israel?” she asked. “Bring us there.”
Greene, who has been a thorn in Trump’s side since leaving office, painted a picture of a Republican base that is fractured and angry over the ongoing military operation in Iran, and
“It’s actually very split. And it’s split along generational lines,” she said.
“Many of the older Americans from the Baby Boomer generation that watch Fox News all day long very much believe the talking points on Fox News, and they have spent decades of their lives convinced that fighting these wars is the right thing to do,” she explained.
She then pointed to the next wave of voters, who see the issue through a completely different lens.
“But the younger generations – I’m Gen X – millennials and Gen Z are very much against this war,” Greene continued. “And so, when you talk to people on the ground, that’s how it comes across. It’s very generational. And the younger generations are completely against it.”
Marjorie Taylor Greene: “It’s turned into some perverted, deranged version of MAGA now that nobody wants” pic.twitter.com/OceBnJpLnp
— Aaron Rupar (@atrupar) March 16, 2026
That sentiment echoes something that has been brewing in conservative politics since Trump entered the political arena. Younger voters inside the America First movement tend to view foreign wars as expensive distractions from domestic priorities. Greene leaned straight into that argument.
“We want world peace. We want good trade. We want a great economy. We want a lower inflation, lower the cost of housing,” she said. “And younger generations want to be able to afford their American lives, and they don’t want their taxpayer dollars shipped off to — and you can fill in any foreign country.”
She emphasized that the frustration extends beyond any one ally or region.
“We will take Israel out of it. They don’t want their money sent overseas,” Greene said. “And you know what? They’re right for saying this.”
She even argued that the military operation in Iran is a betrayal of the movement that carried Donald Trump back into the White House.
“This is absolutely absurd,” she said. “And it’s 100 percent a betrayal to what MAGA was supposed to be when we voted in 2024, and it’s turned into some perverted, deranged version of MAGA now that nobody wants.”
“And a lot of people are just like, this doesn’t make sense,” she added.
Polling on Iran has been mixed.
A CNN poll earlier this month showed that while a majority of voters (59%) opposed military action in Iran, a whopping 77% of Republicans approved of the decision, which hardly suggests the party is divided. However, there may be some truth to what Greene said.
Within the Republican Party, there is a sharp divide between those who say they consider themselves part of the “Make America Great Again” movement and those who do not, a division that appears largely linked to trust in the president. MAGA Republicans are 30 points more likely than non-MAGA Republicans to say they strongly approve of the decision to take military action, 34 points likelier to say it will reduce the threat Iran poses to the US and nearly 50 points more likely to say they have a great deal of trust in Trump to make the right decisions about US use of force in Iran.
However, more recent surveys show that Americans have been warming up to the Iran strikes. A Washington Post poll from last week showed the country was more evenly divided on the strikes, with a plurality, 42% supporting the strikes, 40% opposing them, and 17% indicating they were unsure – a stunning change from its previous survey when 52% were opposed, 39% supported, and just 9% were unsure. Republican support for continuing the strikes even increased by 12 points. Fox News similarly reported a more even split of 50% support and 50% opposition, with 84% of Republicans supporting.
Yet, a Quinnipiac poll revealed that support changes drastically when it comes to boots on the ground – which 2,200 Marines may (or may not) provide.
Tyler Durden
Mon, 03/16/2026 – 14:20
https://www.zerohedge.com/political/majorie-taylor-greene-tells-cnn-maga-feels-100-betrayed-iran-war
America’s Nuclear Fuel Chain Gains As General Matter Earns $4.2 Billion Of Support From Ex-Im Bank
America’s Nuclear Fuel Chain Gains As General Matter Earns $4.2 Billion Of Support From Ex-Im Bank
This past weekend saw a major announcement from the Indo-Pacific Energy Security Ministerial in Tokyo, with the U.S. Export-Import Bank issuing letters of interest for $4.2 billion of capital for Japanese and South Korean reactor owners to purchase low-enriched uranium (LEU) from U.S. enrichment company General Matter.
The US Export-Import Bank advanced plans for up to $4.2 billion in financing to support Japanese and South Korean nuclear operators’ purchase of enriched fuel from California-based General Matter https://t.co/DxwnQ1BY8q
— Bloomberg (@business) March 15, 2026
The Ex-Im Bank will support up to $2.4 billion for Japanese utilities and $1.8 billion for South Korean utilities looking to purchase enriched uranium from the U.S. as opposed to their long-term supplier, Russia.
This is part of a larger ongoing effort on two different fronts, with the U.S. looking to secure funding to start up the domestic nuclear fuel chain within its borders by securing foreign investments, as well as the U.S. and its allies looking to diversify from eastern suppliers of critical materials, including enriched uranium.
The U.S. finally seems to be getting serious about supporting a significant build-out of fuel chain capacity within its borders, as we have well since documented the extremely restricted bottleneck that is the supply of nuclear fuel in America.
General Matter recently was awarded $900 million from the DOE to support capacity build-out for producing high-assay LEU (HALEU) at its planned facility in Paducah, Kentucky. The company has yet to make any serious progress at their site, but has initiated initial discussions with the regulator, the NRC, and has announced additional sites that will support centrifuge construction and potentially additional enrichment facilities.
The U.S. is pursuing more self-reliance on a supply of enriched uranium with three other major companies. The first is with the existing commercial facility in New Mexico, owned and operated by Urenco, a company supported by a consortium of European nations including the U.K., Netherlands, and German utilities.
The second is the only facility in the U.S. currently producing HALEU at roughly 1,000 kilograms per year, owned by Centrus Energy in Ohio. We’ve long detailed their progress with awards from the DOE and ongoing build-out of their enrichment facility. For comparison to the new funding support for General Matter, the backlog for Centrus’s order book currently stands at $2.3 billion.
The third is Orano, backed by the French government, with their future LEU production facility planned in Tennessee under Project Ike.
General Matter has come out of nowhere to take the U.S. enrichment landscape by storm, supported by Scott Nolan from Founders Fund, along with Peter Thiel sitting on the board. Company leadership was also notably present in the Oval Office as President Trump signed last year’s set of nuclear executive orders. Observers should expect to find General Matter high on the list of leaders within the American enrichment space.
Tyler Durden
Mon, 03/16/2026 – 13:45
https://www.zerohedge.com/energy/general-matter-earns-42-billion-support-ex-im-bank
Michigan Synagogue Attacker Has Ties To Iranian-Backed Hezbollah Rocket Unit
Michigan Synagogue Attacker Has Ties To Iranian-Backed Hezbollah Rocket Unit
Authored by Steve Watson via Modernity.news,
New revelations link the terrorist behind the Michigan synagogue rampage directly to Hezbollah operatives, underscoring the dangers of unchecked immigration from terror hotspots.
America’s borders have been a sieve under leftist policies, allowing potential threats like Iranian proxies to embed themselves in U.S. communities. The recent attack on a Michigan synagogue by Ayman Mohamad Ghazali, a Lebanese immigrant, highlights how foreign terror networks can strike from within, especially when activated by regimes like Iran’s.
The revelations bolster concerns that this is part of a broader pattern of Iranian backed sleeper cells and individuals infiltrating the U.S. With family ties to Hezbollah’s rocket units, Ghazali’s actions expose the real cost of open-border globalism that prioritizes everything but American safety.
🚨 IT’S OFFICIAL: The Muslim who attacked the synagogue in Michigan has family ties to a HEZBOLLAH ROCKET UNIT — an Iranian-backed Muslim terror group that targets civilians
INFURIATING that he is even in America.
Ayman Mohamad Ghazali — “Sources say his brothers in Lebanon… pic.twitter.com/NNGnB4rMOd
— Eric Daugherty (@EricLDaugh) March 15, 2026
The attack unfolded on Thursday, when Ghazali rammed his truck into Temple Israel in West Bloomfield Township, Michigan, a synagogue complex housing a preschool. Armed and carrying fireworks intended as explosives, he engaged in a shootout with security before inflicting a fatal gunshot wound on himself.
Surveillance footage captured Ghazali purchasing over $2,000 worth of fireworks just days prior, a chilling prelude to his attempt to ignite terror in a place of worship.
Ghazali, born in Lebanon, entered the U.S. legally in 2011 on a spousal visa and gained citizenship in 2016. He lived in Dearborn Heights, working at a local restaurant—seemingly integrated, but harboring connections that proved deadly.
Sources confirmed his brothers in Lebanon were members of a Hezbollah rocket unit, the Iranian-backed group notorious for targeting civilians. Those same brothers, along with Ghazali’s niece and nephew, were killed in an Israeli airstrike on March 5, potentially fueling his rage.
This development echoes warnings about Iranian sleeper cells being activated across the U.S., particularly to target figures like President Trump. As we previously reported, intelligence indicated Tehran’s proxies were mobilizing to eliminate threats to their regime, exploiting weak borders to embed operatives.
The media’s response? Predictable deflection. CNN wasted no time blaming President Trump for the synagogue attack, ignoring the obvious ties to foreign terrorism and instead pushing narratives that shield border failures.
Ghazali had been flagged in U.S. databases for connections to suspected Hezbollah members, though not deemed an active member himself. Yet he roamed free, a ticking bomb in America’s heartland.
Community leaders in Dearborn Heights, including the mayor, condemned the violence while also acknowledging Ghazali’s recent family loss—but emphasized there’s no justification for terror.
Replies amplified the sentiment, with one X user stating, “The Trojan horse Biden administration tried to facilitate the fall of our great nation.” Another noted, “Democrats are using every means to keep these illegals in the US.”
Federal raids on Ghazali’s home followed, as investigators probe deeper into his potential role in a wider network.
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Tyler Durden
Mon, 03/16/2026 – 13:25











