Authored by Jacki Thrapp via The Epoch Times,

No arrests have been made in the Nancy Guthrie case after a night of heavy police activity two miles from the missing 84-year-old’s home.

Nancy Guthrie, who is the mother of “Today” show co-anchor Savannah Guthrie, was last seen on Jan. 31 after she had dinner with her family.

As the search for Guthrie entered its third week, a large police presence responded to a road near the missing woman’s home in the Tucson, Arizona area on the night of Feb. 13, which included a series of sheriff’s and FBI vehicles as well as SWAT and forensics teams.

The Pima County Sheriff’s Department confirmed the police activity was related to the case, but did not release details about what happened inside the blocked-off scene.

“Law enforcement activity is underway at a residence near E Orange Grove Rd & N First Ave related to the Guthrie case,” the Pima County Sheriff’s Department shared in an X post.

“Because this is a joint investigation, at the request of the FBI, no additional information is currently available.”

The Epoch Times contacted the Pima County Sheriff’s Department and the FBI for more information, but had received no response at the time of publishing.

Around the same time that police activity was taking place in Nancy Guthrie’s neighborhood late Friday night, a separate incident was happening at a Culver’s restaurant, also two miles away from her home.

The FBI and the sheriff’s department tagged and towed a Range Rover SUV from a Culver’s restaurant parking lot, which confirmed the activity was part of the Nancy Guthrie case.

Nancy Guthrie was last seen on Jan. 31 when a relative drove her back home from a family dinner at 9:48 p.m.

The 84-year-old’s doorbell camera was disconnected in the early morning hours of Feb. 1.

The FBI accessed footage from her Nest camera and released video of a suspect, without a time stamp, on Feb. 12.

FBI Phoenix described the suspect in the video as a male, approximately 5 feet, 9 inches to 5 feet, 10 inches tall, with an average build.

A combination of images from a video shows a masked person outside Nancy Guthrie’s home in Catalina Foothills, Arizona. FBI via The Epoch Times

The agency identified the suspect’s bag in the video as a black, 25-liter “Ozark Trail Hiker Pack” backpack that was sold at Walmart.

Law enforcement believes Nancy Guthrie was removed against her will.

On Feb. 12, the FBI doubled its reward for a tip leading to an arrest in the case to $100,000.

Multiple ransom notes have been reported by local outlets and TMZ.

Savannah Guthrie previously said that her family “will pay” for the return of her mother, but it’s unclear whether any payment was made to the person who sent the ransom note.

In the (alleged) interests of transparency, AG Pam Bondi and Deputy AG Todd Blanche released a statement overnight that included a list of all government officials and politically-exposed persons that appeared in The Epstein Files.

SCOOP: The Department of Justice has sent over a letter to Congress outlining why it made redactions to the Epstein files.

The six-page letter also includes a list of all “government officials and politically exposed persons” in the files. pic.twitter.com/aRCmS2p1Bg

— Aaron Parnas (@AaronParnas) February 15, 2026

The term “politically exposed persons” was not defined in the Act, but consistent with Section 3 of the Act, Department reviewers were directed to notate “all government officials and politically exposed persons named or referenced” in any document, including videos and images, reviewed during this process.

This list includes (as directed by the Act) all persons where (1) they are or were a government official or politically exposed person and (2) their name appears in the files released under the Act at least once. Names appear in the files released under the Act in a wide variety of contexts.

For example, some individuals had extensive direct email contact with Epstein or Maxwell while other individuals are mentioned only in a portion of a document (including press reporting) that on its face is unrelated to the Epstein and Maxwell matters.

So, while we have seen ‘lists’ before, this is the official DoJ list of potential pedophiles, pizza eaters, or island-partiers (allegedly)…

Acosta, Alexander
Adelson, Miriam
Allen, Woody
Allred, Gloria
Assange, Julian
Audrey, Strauss
Avakian, Stephanie
Babino, Vincent
Baldwin, Alec
Band, Doug
Bannon, Steve
Barak, Ehud
Barr, William
Becerra, Xavier
Belohlavek, Lanna
Berman, Geoffrey
Beyonce
Bezos, Jeff
Biden, Ashley
Biden, Hunter
Biden, Jill
Biden, Joe
Birger, Laura
Bistricer, David
Bistricer, Marc
Black, Leon
Blanche, Todd
Blinken, Antony
Boies, David
Bondi, Pam
Bongino, Dan
Bono
Book, Lauren
Booker, Cory
Bowdich, David
Boyd, Stephen E.
Bradshaw, Ric
Branson, Richard
Brennan, John
Brockman, John
Brunel, Jean Luc
Buckley, Sean
Bull, Gerald
Bush Jr., George
Bush, George W.
Bush, Jeb
Byrne, Patrick
Calk, Stephen
Capone, Russell
Carlson, Tucker
Carper, Tom
Castro, Fidel
Cheney, Dick
Cher
Chomsky, Noam
Clayton, Jay
Clinton, Bill
Clinton, Chelsea
Clinton, Hillary
Clooney, George
Cobain, Kurt
Cohen, Michael
Colleran, Brian
Collins, Linda
Comey, James
Comey, Maureen
Conway, George
Copperfield, David
Cosby, Bill
De Niro, Robert
Dershowitz, Alan
Desantis, Ron
Diller, Barry
Donahue, Phil
Donaleski, Rebekah
Dupont, Kathleen
Economou, George
Egauger, Michael
Eisenberg, John
Elizabeth II
Ellison, Keith
Emmanuel, Rahm
Epstein, Jeffrey
Erben, Germann
Feinberg, Stephen
Ferguson, Sarah
Filip, Mark
Flynn, Michael
Foley, Mark
Fortelni, Marius
Friedland, Edward
Frost, Phillip
Gates, Bill
Gates, Melinda
Garland, Merrick
Geithner, Timothy
Giuliani, Rudy
Goldman, Dan
Graham, Lindsey
Guinness, Arthur Edward Rory
Haley, Nikki
Harrish, Joshua
Harris, Kamala
Hatch, Orin
Hawk, Rony
Heiss, Howard
Higgins, Tony
Ho, Stanley
Holder, Eric
Hoffman, Reid
Horowitz, Andreesen
Horowitz, Michael
Hosenball, Mark
Hoyer, Steny
Huckabee, Mike
Huckabee, Sarah
Hutner, Florence
Inge Rokke, Kjell
Iveagh, Clare
Jackson, Michael
Jagger, Mick
Jarecki, Henry
Jayapal, Pramila
JayZ
Jeffries, Hakeem
Johnson, Hank
Jones, Alex
Joplin, Janis
Kasich, John
Kendall Rowlands, John
Kennedy Jr., Robert F.
Kerry, John
Khanna, Ro
Kline, Carl
Krisher, Barry
Kudlow, Larry
Kushner, Jared
Kyl, Jon
Lady Victoria Hervey
Lefkowitz, Jay
Lefroy, Jeremy
Leo, Leonard
Lew, Jack
Lewinsky, Monica
Lieu, Ted
Lofgren, Zoe
Lonergan, Jessica
Lorber, Howard
Lord Robert May
Lutnick, Howard
Lynch, Loretta
Mace, Nancy
Mandelson, Peter
Mao, Coreen
Margolin, James
Markey, Ed
Markle, Meghan
Massie, Thomas
Maxwell, Ghislaine
Maxwell, Robert
May, Theresa
McCain, John
McFarland, Nicole
Meadows, Mark
Menendez, Robert
Milano, Alyssa
Milikowski, Nathan
Milken, Michael
Mnuchin, Steve
Moe, Alison
Monaco, Lisa
Monroe, Marilyn
Mook, William
Moskowitz, Jared
Mueller III, Robert s.
Mulvaney, Mick
Murdoch, Rupert
Musk, Elon
Nadler, Jerry
Napolitano, Janet
Nassar, Larry
Netanyahu, Benjamin
Newsom, Gavin
Obama, Barack
Obama, Michelle
Ocasio Cortez, Alexandria
O’Donnell, Rosie
Oz, Mehmet
Papapetru, Sophia
Parker, Daniel
Patel, Kash
Paul, Ron
Pecorino, Joseph
Pelosi, Nancy
Pence, Mike
Pestana, Diego
Phelan, John
Plaskett, Stacey
Plourde, Lee
Podesta, Tony
Pomerantz, Lara
Pompeo, Mike
Pope John Paul II
Pope, Susan
Power, Samantha
Presley, Elvis
Presley, Lisa Marie
Prince Harry, Duke of Sussex
Price Andrew Mountbatten-Windsor
Prince Philip
Princess Diana
Pritzker, JB
Pritzker, Thomas
Quayle, Dan
Raskin, Jamie
Ratcliffe, John
Ratner, Brett
Readler, Chad
Reagan, Ronald
Recarey, Joseph
Reiter, Michael
Reno, Janet
Reynolds, Tom
Rice, Susan
Richardson, Bill
Rod-Larsen, Terje
Rogers, Matthew
Rohrbach, Andrew
Romney, Mitt
Roos, Nicolas
Rosen, Jeffrey
Rosenstein, Rod
Ross, Diana
Rossmiller, Alexander
Roth, John
Routch, Timothy
Rove, Karl
Rowan, Marc
Rubenstein, Howard
Rubio, Marco
Ruemmler, Kathy
Ryan, Paul
Salinger, Pierre
Sasse, Ben
Scanlon, Mary Gay
Scarola, John
Schenberg, Janis
Schiff, Adam
Schlaff, Martin
Schumer, Amy
Schumer, Chuck
Schwarzman, Stephen
Scott, Tim
Sekulow, Jay
Senatore, Adrienne
Sessions, Jeff
Shamir, Yitzhak
Shapiro, Ben
Shappert, Gretchen
Shea, Timothy
Siad, Daniel
Snowden, Edward
Soros, Alex
Soros, George
Spacey, Kevin
Spitzer, Eliot
Springsteen, Bruce
Stabenow, Debbie
Staley, Jes
Starmer, Keir
Starr, Kenneth
Stoltenberg, Jens
Stordalen, Gunhild
Stordalen, Petter
Straub, Glenn
Streisand, Barbara
Sultan Ahmed bin Sulayem
Summers, Larry
Swalwell, Eric
Sweency Jr., William
Thomas-Jacobs, Carol
Taylor Green, Marjorie
Thatcher, Margaret
Thiel, Peter
Trump, Donald
Trump, Ivanka
Trump, Melania
Tucker, Chris
Vance, JD
Villafana, Marie
Walker, Richard
Warsh, Kevin
Wexner, Abigail
Wexner, Les
Williams, Damian
Wolff, Michael
Woodward, Stanley
Wyden, Ron
Yung, Mark
Zampolli, Paolo
Zucker, Jeff
Zuckerberg, Mark

The list contains hundreds of names, spanning politicians, celebrities, business leaders, historical figures, deceased individuals, and others, but leans somewhat left overall due to the inclusion of numerous Democratic politicians and Hollywood figures, but it includes prominent right-leaning ones (especially business donors). 

Left-aligned: Approximately 130–150 (strong Democratic politicians, entertainers, and donors dominate this side in the list).

Right-aligned: Approximately 90–110 (strong Republican politicians, recent big-money conservative donors like Musk/Adelson/Thiel, and conservative figures).

Unclear/Other: The remainder (many historical, foreign, or non-political figures).

Counts are estimates derived from cross-referencing donations, public endorsements/statements, and party registrations/affiliations. Not every name has donation records or explicit statements, so some placements rely on broader consensus from reliable sources.

Still quite a list…

Authored by Lance Roberts via RealInvestmentAdvice.com,

We have spent a lot of time over the last year debunking “narratives,” which are dangerous to investors, as “narratives” create a rationalization for overpaying for assets. Nonetheless, Wall Street loves a simple story and is happy to jump on a trend with momentum, selling products to unwitting consumers. A good example of that lately has been the “weak dollar” narrative, which has pushed investors to chase foreign assets. The negative correlation between a weak dollar and rising international stock exposure appears to be a free return. Unsurprisingly, the story spreads fast because performance charts look clean during a dollar slide.

Reuters recently reported that the US dollar hit a four-year low in late January after President Donald Trump said the “value of the dollar” was “great.” Reuters tied the move to rate cut expectations, policy volatility, and concerns about fiscal deficits and central bank independence. However, in reality, President Trump was more correct than not, as Commerce Secretary Howard Lutnick confirmed the dollar trading at a more “neutral level,” as shown below.

There are two very important points to take away from the chart above.

The dollar has been in a very strong uptrend since the Financial Crisis and remains there.

Despite the recent pullback in the dollar, it is trading at its “Neutral Value” and is at the same level it was in 1970. Such certainly does not support the “debasement” or “demise of the US Dollar” narratives.

What is true is that the decline in the value of the dollar, after its strong surge starting in 2021, does make foreign assets more appealing as investors seek a hedge against a weaker dollar. However, while the “purveyors of perpetual doom” claim this is evidence of the end of the US Dollar dominance, the recent decline in the dollar, as shown above, is simply part of its long history of rallies and declines as the dollar adjusts to flows as foreign governments seek to balance their currencies against the US Dollar.

If you take a look at the dollar chart above, you will notice that it trades in a band above and below 100 (the “neutral value.) This is because the US Dollar is measured against a “basket” of foreign currencies. It is crucial to understand that foreign governments manage their currency against the dollar through a “peg” or a managed band to reduce exchange rate swings and support trade. As such, foreign central banks set a target rate versus the dollar and defend that target by buying or selling dollars from foreign exchange reserves. This is why, when the dollar was “above neutral,” foreign central banks like China reduced their holdings of US Treasuries to strengthen the Yuan.

When demand for the local currency rises, the central bank buys dollars and sells local currency to keep the rate from rising. When demand falls, the central bank sells dollars and buys local currency to keep the rate from falling too much. Many countries also align short-term interest rates, capital controls, and bank liquidity rules with the peg, since rate differentials and hot money flows pressure the exchange rate.

There are several very important reasons why all countries need a stable currency relative to the dollar:

It helps exporters price goods with less uncertainty,

Supports long-term contracts,

Limits imported inflation on energy and commodity prices priced in dollars, and

Lowers currency risk for foreign investors.

The trade-off is less monetary policy freedom, greater reserve requirements, and a higher risk of sharp adjustments when the peg level no longer aligns with inflation, growth, or external deficits.

However, none of this supports any commentary about the “death of the dollar,” or the failure of fiat currencies in general. What those commentaries do is push portfolio behavior. When the dollar falls, international stock exposure often rises in the allocation model. The risk lies in the assumption that a weak dollar stays in place indefinitely.

Looking at the chart above, it is clear that currency trends reverse when positioning crowds in either direction. A weak-dollar narrative encourages investors to pay less attention to valuation, earnings, and country-level fundamentals, leaving portfolios exposed when the thesis breaks.

A Potential For A Dollar Rally

Currency markets move on expectations more than anything else. Yes, interest rates, economic growth, and inflation can all impact the dollar, but it is more about the “expectations” of those variables for the dollar, trade, etc., that move the price. Therefore, investors need to be on the lookout for factors that could reverse expectations. Currently, several conditions are forming that could begin to reverse those expectations.

First, positioning and technicals matter. From a long-term technical perspective, the U.S. Dollar Index is attempting to stabilize after a 2025 downside move. As shown, using a 3-year price momentum measure, the dollar is as oversold now as it was at previous dollar bottoms. The current move lower is becoming increasingly stretched, reducing the catalyst needed to trigger a sharp reversal.

A weak dollar trend also encourages leverage through unhedged international stock exposure. As shown, investors have piled into global sector funds (excluding technology) over the past year to boost returns. However, the last time we saw that kind of exposure shift was in 2021, just before the counter-trend rally in the dollar that hit returns fast.

Second, relative economic growth still supports the U.S. over international economies. As we noted previously,

“While investors are exceedingly bullish on the stock market, forecasts for 2026 are sobering. Even the IMF, which recently produced its global growth estimates, has the US economy growing at 2% for the next two years, and the Eurozone near 1%.”.

Relative growth drives capital flows, and capital flows drive currencies. Therefore, when U.S. growth beats expectations while other regions disappoint, the weak-dollar theme loses its power.

Lastly, policy messaging still matters. Reuters reported that Treasury Secretary Scott Bessent reaffirmed “a strong dollar policy.” Furthermore, the expected monetary policy under Kevin Warsh, the new Federal Reserve chairman, is also dollar-bullish. While a single statement does not set a multi-month trend, repeated statements and eventual actions will shift short-term psychology toward a stronger dollar view.

Most crucially, a dollar rally does not require booming U.S. growth. A dollar rally only requires growth and rates to look less negative than they’re priced, and the current oversold conditions lower that hurdle.

The International Valuation Risk

Investors often stack a second argument on top of the weak dollar story. International markets look cheaper than the U.S.; therefore, international stock exposure offers better value. The problem lies in relative valuation, when we should really look at each market’s valuation relative to its own history and earnings path. As shown, when you do that, those markets trade at historically high valuations.

MSCI data shows the MSCI EAFE Index (ex-US) forward P/E at 15.3 as of January 30, 2026. The level looks reasonable in isolation; however, the key issue is what investors receive for that multiple. Given that earnings growth rates, margins, and sector mix are vastly weaker than in the U.S., overvaluation will matter in those countries, just as it does in the U.S.

On the U.S. side, FactSet reported S&P 500 analysts project 2026 earnings growth of 14.1 percent and a forward 12-month P/E of 21.5, below 22.0 at the end of the fourth quarter. The U.S. multiple still sits above long-run averages, yet the direction matters, as the U.S. has cheapened at the margin while earnings expectations have remained resilient and profit margins have improved.

International markets also carry concentration risk. A significant portion of EAFE performance is tied to financials, industrials, and exporters, all of which are sensitive to global trade cycles and demand from China. Those forces can change quickly, but when the weak-dollar narrative drives the trade, investors often ignore the macro risk.

A currency-driven bid also inflates valuation abroad. A weak dollar lifts translated returns and encourages inflows, which in turn raise price multiples. However, when the dollar turns higher, international stock exposure faces a double drag as currency hedging reverses. When that translation turns negative, the valuation premium compresses as flows reverse.

While international stock exposure is fine, and there are certainly periods when it performs better than domestic markets, over the last 17 years it has trailed domestic markets by a large margin. Such is because, at the end of the day, it isn’t about dollar weakness; it is about earnings growth, profit margins, and future expectations. Currently, that growth remains in the U.S.

Investment Tactics Dollar Reversal

As shown, the move in Emerging Market Stocks (EEM) has been extremely sharp, making it much more exposed to a deep reversal if the dollar rallies.

Therefore, investors should treat international stock exposure as a tool, not a narrative. The goal, as always, is to maintain diversification but only to the point where you can control risk. Once it becomes a momentum chase, that risk control fails.

Start with position sizing. Set a strategic range for international stock exposure based on your risk tolerance and drawdown limits. Critically, keep that range stable and don’t allow the recent weakness in the dollar to dictate long-term weights.

Use rules-based rebalancing. When foreign equities run above target due to a weak dollar surge, trim toward policy weight. When foreign equities lag, add slowly. Rebalancing reduces the damage of an unexpected reversal.

Add currency awareness. Consider a split allocation between hedged and unhedged developed exposure. Hedged exposure reduces the impact of a dollar rally, while unhedged exposure keeps diversification benefits when the weak dollar resumes. MSCI publishes a 100% hedged EAFE benchmark that helps investors compare results across hedged and unhedged frameworks.

Focus on earnings quality as fundamentals will always matter in the end. Continue to favor markets and sectors with stable cash flows, strong balance sheets, and pricing power, as those traits matter when currencies swing and financial conditions tighten.

Avoid valuation shortcuts. Do not rely on “cheaper than the U.S.” Use local history and earnings trends. If international multiples rise while earnings lag, reduce exposure, even if the weak-dollar story remains popular.

Finally, stress test the portfolio. Model a 5 percent to 10 percent dollar rally and a 10 percent drawdown in foreign equities at the same time. If the model shows unacceptable damage, reduce unhedged international stock exposure before the market enforces the change.

The weak-dollar narrative is just a narrative, and a reversal will arrive again. That is just how markets operate. The question is whether your process will protect you or hurt you when that reversal comes.