Value Investors,
$US debt-backed stablecoins would be global street currency .Ellen Brown, Dollar Reset 2.0: Stablecoins, Treasury Bills and the Case for Public Banks
Washington’s stablecoin strategy could shore up the dollar by making U.S. Treasury bills the backing for a new digital currency. But who gets the interest, and who will make the loans?For several years, “the death of the dollar” has been a persistent headline, with compelling data to back it up. The dollar’s share of global foreign exchange reserves has slipped from over 70% in 1999 to about 57% today. Last spring, gold overtook U.S. Treasuries as the largest asset in foreign central bank reserves for the first time since the mid-1990s. The BRICS nations are settling more of their trade in their own currencies, and the U.S. has used the dollar as a sanctions weapon so often that friendly nations as well as rivals are looking for a way out. A topic once confined to gold bugs and doomsday newsletters has gone mainstream.
At the Federal Reserve’s Jackson Hole symposium in August, however, a paper by Eswar Prasad and colleagues highlighted a different set of data. Yes, the dollar’s share of central bank reserves has fallen, and foreign central banks’ Treasury holdings have stayed flat at around $4 trillion. But foreign private holdings have risen from $1 trillion in 2010 to more than $5 trillion today. The world isn’t dumping the dollar so much as changing who holds it. And the authors expect stablecoins to accelerate that shift, by driving global demand for dollars into the U.S. Treasury bills needed to back them. The dollar may not be dying so much as being re-engineered.
According to financial strategist Matt Dines, who attended the recent G20 meeting of finance ministers and central bank governors in Asheville, a “dollar reset” is underway. His thesis is that Washington isn’t trying to prop up the old dollar so much as to build a new one on a different foundation – a foundation that is the very debt everyone is so worried about. In August the national debt passed $40 trillion, with annual interest of over $1 trillion.
The notion that government debt can be an asset isn’t new. A Treasury bond is a debt of the government, but it is an asset to whoever owns it...
..Treasury bills, a portion of the national debt, would become the assets backing the world’s digital trade currency...
..Dines notes that the dollar traded globally has long been “liability-based.” The vast offshore “eurodollar” market runs on dollar IOUs created by banks in London and elsewhere, banks that lack reserve accounts with the U.S. central bank and are beyond the reach of U.S. regulators. When that market froze in 2008, the Fed had to open emergency swap lines to foreign central banks to keep it from collapsing. According to Dines, it is that “liability-based” system that is being left behind.The GENIUS Act, signed in July 2025, set up an alternative to liability-based dollars backed with bank IOUs. Regulated dollar stablecoins are backed one-for-one with cash and short-term Treasury bills. In a June podcast, Dines said the Act pulls the dollar toward “an asset-based definition,” a dollar that “anchors back and is reserved one to one with U.S. Treasury debt.” The old offshore dollar is “being left out to dry.”...
..Technically, a stablecoin is also a liability: it is the issuer’s promise to redeem your token for a dollar. When you hand Circle, the issuer of USDC stablecoins, $100 for 100 USDC tokens, Circle owns the Treasury bills it buys with your money. You just own a claim on Circle for that sum. The shift then isn’t really from a liability to an asset. It’s from a liability backed by private loans to a liability backed by public debt.
But that is still a meaningful difference. Under the GENIUS Act, stablecoins must be backed one-for-one by cash, bank deposits, overnight repos or Treasury bills maturing in 93 days or less. The issuer can’t lend the money out or buy ten-year bonds that lose value when rates rise...
..Bessent promised a payment rail “free of middlemen,” but this isn’t actually true. The stablecoin issuer is the middleman, and it is enormously well-paid.But that is still a meaningful difference. Under the GENIUS Act, stablecoins must be backed one-for-one by cash, bank deposits, overnight repos or Treasury bills maturing in 93 days or less. The issuer can’t lend the money out or buy ten-year bonds that lose value when rates rise...
When you give the issuer a dollar, it gives you a token worth a dollar and puts your dollar into Treasury bills paying 3% to 4%. But you get no interest. In fact, the GENIUS Act prohibits issuers from paying interest to holders. In effect, the issuer has borrowed from you at zero interest and lent to the government at the market rate...
..There’s a second problem with the stablecoin plan, which works counter to the “growth through credit” part of the dollar reset proposal. Dollars moved into stablecoins typically come out of bank deposits, which banks need to back their loans. The stablecoin issuer can’t lend that dollar back out. By law, it can only park it in safe, short-term assets, mostly Treasury bills. Money that was supporting loans to local businesses ends up financing the federal government instead... Hardest hit would be community banks, which depend on ordinary deposits. According to the FDIC, community banks hold 36% of small business loans and 70% of agricultural loans, though they hold only 15% of all bank loans...
..A full-reserve stablecoin can only recycle existing dollars into government debt. So the two halves of the dollar reset pull against each other: one wants credit steered to Main Street, while the other drains the deposits Main Street’s banks need in order to lend. Werner has long argued that the most productive credit comes from small, local banks lending to local businesses.....For keeping deposits in the local lending system, however, a different tool is needed – and there is one, the “tokenized deposit,” an ordinary bank deposit recorded on a blockchain. It moves as quickly as a stablecoin, but it remains a deposit the bank can lend against, and it is insured by the FDIC up to the usual limit. JPMorgan has launched one for its institutional clients, and five regional banks have formed a network to exchange tokenized deposits that “do not leave the insured banking perimeter.”...
..If the current Administration is rebuilding the dollar on a foundation of Treasury debt, as Dines suggests, the result could be sturdier money than the eurodollar IOUs it replaces. But growth takes a credit engine, and that means local banks with deposits to lend.If a few private issuers keep the interest and share it with exchanges as customer “rewards,” the reset will have produced a new generation of princes of the dollar. But if more states join the ranks of issuers, working through public banks in partnership with Main Street banks, the reset could echo Hamilton’s reforms. A growing share of the national debt would be absorbed as backing for the world’s digital dollars, while public and local banks supplied the credit to grow our way out of the debt. https://scheerpost.com/2026/
Alex Krainer says it "could be easy", but the "money" package is difficult. Retire debts. Hold cash. Secure your needs. We are trapped in Cyclop’s cave, but escape could be easy...
A Michigan nurse, one Tawanda Hall missed $900 on her property taxes. The county took her $308,000 home, sold it and confiscated the entire $286,000 in profit. The government took everything she owed, then everything she had: “They took my whole house, my whole family’s livelihood.” Journalist John Stossel pointed out to another case where a county seized a retiree’s home over an $8 debt. People shouldn’t have to fight in court to stop the government from taking their home over eight dollars. And they shouldn’t have to pay property taxes in the first place: it’s almost like you have to pay the government for the privilege of having property.A few months ago, American political commentator Nick Fuentes posted a video message about the U.S. government seizing his funds. Here’s what happened: one day he discovered that he had zero dollars in his checking account. He called his bank and learned that, “your account is under review and we can give you no other information.” Some two weeks later the bank gave him three telephone numbers to call, all belonging to U.S. attorneys working for the the U.S. Department of Justice.
Fuentes learned that he was under investigation and the government simply seized $483,592.78 from his bank account. His statement is worth pondering:
I called my lawyer and asked him, can I get my money back, is there anything I can do, do they have to release it? ... And the response is, basically, they can take your money, they don’t need a reason, and they can keep it as long as they want and they don’t have to give it back. ... If you find yourself the subject of an FBI investigation, if you find yourself a target of the federal government, there is really nothing more that you can do. ...
..Of course, Fuentes isn’t the only victim of such government overreach. The number of cases probably count in thousands across Western jurisdictions. Another political activist in the U.S., Donald Trump’s friend Roger Stone also had his accounts frozen and balances seized. So did his attorney Rudy Giuliani. In the UK, journalist Graham Phillips also had his property confiscated because the government wasn’t happy about his reporting from the war in Ukraine.
For similarly arbitrary reasons, last December the Council of European Union (CEU) sanctioned a group of individuals including the former Swiss intelligence officer Colonel Jacques Baud, French journalist Xavier Moreau and political activist Nathalie Yamb. They were only the most famous ones of over 2,000 individuals sanctioned by the CEU since 2022. The immediate effect of being sanctioned is that such individuals’ bank accounts become frozen and from one day to the next they can no longer receive money, make purchases or pay their bills.
It would seem that in some way, our social contracts have been amended and the rule of law has been replaced with an arbitrary rule by a bureaucratic blob. If the blob can punish people like Nick Fuentes, Colonel Jacques Baud, or Xavier Moreau, none of whom have been accused of breaking any laws, they can do the same to anyone else...
For similarly arbitrary reasons, last December the Council of European Union (CEU) sanctioned a group of individuals including the former Swiss intelligence officer Colonel Jacques Baud, French journalist Xavier Moreau and political activist Nathalie Yamb. They were only the most famous ones of over 2,000 individuals sanctioned by the CEU since 2022. The immediate effect of being sanctioned is that such individuals’ bank accounts become frozen and from one day to the next they can no longer receive money, make purchases or pay their bills.
It would seem that in some way, our social contracts have been amended and the rule of law has been replaced with an arbitrary rule by a bureaucratic blob. If the blob can punish people like Nick Fuentes, Colonel Jacques Baud, or Xavier Moreau, none of whom have been accused of breaking any laws, they can do the same to anyone else...
..It is important to recognize one obvious element to all these cases: the sanctioned persons had their bank accounts frozen. Our bank balances are the source of our vulnerability and risk. Cash or other liquid assets held outside the banks can’t be seized so easily.
Being an obedient, compliant citizen may seem safe in the short term. However, this is exactly the gift that the blob demands of us, which enables it to devour the disobedient and the non-compliant one by one. Obedience only wins us the privilege of being devoured later. This is reminiscent of Homer’s Odyssey where Odysseus and his men find themselves trapped in Polyphemus’ (Cyclop’s) cave...
..Like Odysseus and his men, we are also trapped in one-eyed monster’s cave. But we are trapped there by our own consent and escaping that cave could be as easy as withdrawing our consent. For an individual or a household, the first step should be to withdraw as much money as possible from the banking system and convert it into assets that we can control ourselves. https://alexkrainer.substack.
Simplicius says the sides agree to disagree by both declaring victory and looking the other way. US Claims Iran Has “Lost” as Pre-War Oil Flows Reportedly Return
The conflict over the Strait of Hormuz continues to decouple from reality, as we had warned about last time. Now, it seems, no one can agree as to what is really happening with the oil, or who is “winning”.Many outlets report that the flow of oil has returned to “pre-war” levels, which has naturally led to triumphant conclusions from commentators that Iran has now lost, or is in the process of losing, the war...
..Iran appears to have the ability to stop, or at least greatly curtail, these transits at any time. When the transits are successful, they appear to be so only on account of Iran’s implicit, but perhaps secret, permission. Why would Iran give such allowances? Rumors persist that Iran has cut special deals with certain countries that pay money “under the table” to be allowed transits, even through the Omani route...
..The reason for such games is because it ultimately helps both sides: Trump gets to tout “victory” to his domestic audience, while Iran gets economic help and can still likewise claim control of Hormuz, given that US’s “secret” night-time transfers are essentially unfalsifiable. When a conflict reaches a period of strategic deadlock, it is only logical for both sides to make secret deals for the sake of continuity. They essentially say: “Look, neither one of us has the power to knock the other out of the game entirely, and neither can be seen to publicly retreat or give up. Thus, our only option is to make some deals that work to each other’s favor.” https://simplicius76.
Qatar Masses Tanker Fleet With 2% Of Global LNG Shipping Capacity
Iran reiterated earlier this week that the Hormuz chokepoint won't reopen until US negotiators meet its conditions for a peace deal. The problem with that is that Goldman's most recent report on Hormuz crude flows shows they are back to prewar levels as Tehran's leverage erodes.
A new indication that Hormuz energy flows could ramp up comes from a Wednesday morning Bloomberg News report that Qatar has parked 12 empty liquefied natural gas carriers near its coast, signaling preparations to load them and soon transit the critical waterway. https://www.zerohedge.com/energy/qatar-masses-tanker-armada-2-global-global-lng-shipping-capacity
A new indication that Hormuz energy flows could ramp up comes from a Wednesday morning Bloomberg News report that Qatar has parked 12 empty liquefied natural gas carriers near its coast, signaling preparations to load them and soon transit the critical waterway. https://www.zerohedge.com/energy/qatar-masses-tanker-armada-2-global-global-lng-shipping-capacity
Why does the House of Saud still control the Ghawar oilfield? Could another entity manage it less expensively? Houthis Unleash Large Missile, Drone Barrage On Saudi Arabia, Target Riyadh Airport & Aramco Facility
Mocha's status remains disputed: Government forces claim to have retaken the strategic port, while Houthis deny the loss.
Houthis announce major missile & drone attack on Saudi territory, including against international airport in Riyadh. https://www.zerohedge.com/
In a historic first, the Mecca Defense Pact between Saudi Arabia, Pakistan and Turkey is now in force, according to the allies at an emergency meeting in Riyadh.
It was only signed in August, but soon after it was formalized an all-out war between the Houthis and Saudi coalition in Yemen erupted, with the Ansar Allah movement now increasingly targeting Saudi civilian infrastructure, including airports and energy infrastructure.
The Monday emergency meeting of foreign and defense ministers resulted in the top committee agreeing to deploy Pakistani and Turkish forces to Saudi territory...
It was only signed in August, but soon after it was formalized an all-out war between the Houthis and Saudi coalition in Yemen erupted, with the Ansar Allah movement now increasingly targeting Saudi civilian infrastructure, including airports and energy infrastructure.
The Monday emergency meeting of foreign and defense ministers resulted in the top committee agreeing to deploy Pakistani and Turkish forces to Saudi territory...
..Apparently the Mecca pact took on more urgency after claims that the Houthis targeted the Islamic holy site of Mecca last month - something which the Houthis vehemently denied. Pakistan has said when pressed by reporters for details: "The operational details of the actualization of the collective deterrence are a matter of operational confidentiality and may not be made subject of media speculation."
It should be noted that Pakistan has already long had a large and long-running contingent of troops inside the kingdom, and working with the Saudi armed forces. Pakistan's air force has also had fighter jets and support aircraft in the kingdom.
Turkey's role will be much less clear, and Turkish parliament must ultimately authorize sending troops abroad for any kind of large-scale deployment. Unlike Pakistan, the Turks do not have any level of an existent official military footprint in Saudi Arabia. https://www.zerohedge.com/
It should be noted that Pakistan has already long had a large and long-running contingent of troops inside the kingdom, and working with the Saudi armed forces. Pakistan's air force has also had fighter jets and support aircraft in the kingdom.
Turkey's role will be much less clear, and Turkish parliament must ultimately authorize sending troops abroad for any kind of large-scale deployment. Unlike Pakistan, the Turks do not have any level of an existent official military footprint in Saudi Arabia. https://www.zerohedge.com/
Vanessa Beeley, Western-Supported Saudi Coalition Supports ISIS and Al Qaeda in Yemen
According to Yemeni military sources and various media reports, Ansar Allah (the Houthi movement) has discovered a large number of passports belonging to foreign combatants in liberated areas, confirming a direct link between the Saudi-led coalition and terrorist organizations such as ISIS.
Passports of Foreign Terrorists Found in Liberated Yemeni Areas: Saudi Coalition’s “International Legion” ExposedAnsar Allah (the Houthi movement) has discovered dozens of passports belonging to ISIS members and other foreign terrorists in Yemeni areas liberated from the Saudi-led coalition. Originating from countries such as Kuwait, Qatar, Turkey, and Syria, these passports serve as irrefutable evidence that Saudi Arabia has recruited, armed, and commanded foreign terrorists to fight against the people of Yemen. https://www.globalresearch.ca/western-supported-saudi-coalition-supports-isis-al-qaeda-yemen/5942935
Wounded guys with hands in air can't get away: Saudi-backed forces run over surrendering Houthis with trucks https://www.aol.co.uk/
Gold & Geopolitics, Daily digest: 2026-10-08 [Note that Israeli elections are October 27. Israel commands the US military these days]
Two things are new. The Pentagon told CENTCOM to finish preparing for resumed major strikes on Iran, and US and Israeli officials are pointing at a window before the Nov 3 midterms. Iran's tanker strikes moved out of the Strait of Hormuz to waters off Qatar and Fujairah. Separately, the US 10Y auction cleared at the highest yield since 2000, a few hours before the Fed minutes showed all 19 officials backed September's hike. The rest continues from earlier days, only sharper: the Houthis are closing in on Taiz and hitting Riyadh, diesel is getting tighter, and gold keeps sliding despite record central-bank and ETF buying...
..Iran-Hormuz: strikes reach Qatari waters and Fujairah; Tehran vows to shut the Omani-coast lane - MoloWarMonitor says the IRGC now hits vessels repeatedly "specifically to kill crew members". The aim is to deter captains, who reportedly earn up to $100k/month for running the strait (MoloWarMonitor)......Flow claims depend on who is counting: CENTCOM: traffic is flowing, including 20M barrels of crude; "the United States and regional partners clearly control the strait" (imetatronink).
HormuzReport: traffic fell from ~125 ships/day pre-war to roughly 10 (HormuzReport)...
HormuzReport: traffic fell from ~125 ships/day pre-war to roughly 10 (HormuzReport)...
..Yemen-Saudi: Jabal Habashi falls and Taiz is encircled; Riyadh confirms its airports were hit; Syria weighs 10-20k troops
Human cost: The UN counts 2.2M Yemeni children under five as acutely malnourished, more than half a million of them severely (MenchOsint).
Ansarallah claims 156 Saudi air and rocket strikes in 24h on Sanaa, Taiz, Saada, Jawf, Marib and Amran, and 1,798 since the escalation began. These are Houthi figures (MenchOsint).
Taiz: Ansarallah took the Jabal Habashi summit, leaving Jabal Sabr as the last mountain stronghold before the city (Suriyakmaps, bonzerbarry).
The second pocket south of Taiz is gone; the Al-Mawasit and Silw districts were taken, a gain of +99 sq mi (CKMapss).
Maps show Taiz city under siege (MenchOsint).
Inside the city, government (PLC) garrisons asked for safe passage to Aden in exchange for handing it over. Talks broke down when Ansarallah refused to let them leave with weapons and prisoners (tonytohcy).
..Bab el-Mandeb: Accounts of Dhubab airport conflict: held by the Amaliqa (tonytohcy) - held by neither side (A7_Mirza) - entered by Aden forces, who then withdrew from the exposed strip (Suriyakmaps)
A National Shield push into Al Wazi'iyah failed for a second day (bonzerbarry).
Strikes into Saudi Arabia: Houthi military spokesman Saree claims drones and a ballistic missile on King Khalid airport, plus attacks on Abha airport, Khamis Mushait air base and camps in Jizan and Asir (VocalPolitics1).
Ansarallah also claims it shot down a ~$20M Bayraktar Akinci drone (MenchOsint).
Coalition widening: Axios, relayed by GeromanAT: Syria is weighing 10,000-20,000 troops from its 90th and 84th Divisions; the 84th includes foreign Islamist fighters. Washington is "not opposed in principle" (GeromanAT, zerohedge).
Saudi Arabia, Pakistan and Turkey have activated their Mecca defence pact (zerohedge).
Reuters: Turkey is supplying mostly defensive equipment and intelligence, with no other deployment yet (s_m_marandi).
Megatron, relayed by 21WIRE, reports Pakistani military planes landing in Aden and ~200 US instructors helping Saudi jets find targets (21WIRE). https://no1sdailydigest.substack.com/p/daily-digest-2026-10-08
Human cost: The UN counts 2.2M Yemeni children under five as acutely malnourished, more than half a million of them severely (MenchOsint).
Ansarallah claims 156 Saudi air and rocket strikes in 24h on Sanaa, Taiz, Saada, Jawf, Marib and Amran, and 1,798 since the escalation began. These are Houthi figures (MenchOsint).
Taiz: Ansarallah took the Jabal Habashi summit, leaving Jabal Sabr as the last mountain stronghold before the city (Suriyakmaps, bonzerbarry).
The second pocket south of Taiz is gone; the Al-Mawasit and Silw districts were taken, a gain of +99 sq mi (CKMapss).
Maps show Taiz city under siege (MenchOsint).
Inside the city, government (PLC) garrisons asked for safe passage to Aden in exchange for handing it over. Talks broke down when Ansarallah refused to let them leave with weapons and prisoners (tonytohcy).
..Bab el-Mandeb: Accounts of Dhubab airport conflict: held by the Amaliqa (tonytohcy) - held by neither side (A7_Mirza) - entered by Aden forces, who then withdrew from the exposed strip (Suriyakmaps)
A National Shield push into Al Wazi'iyah failed for a second day (bonzerbarry).
Strikes into Saudi Arabia: Houthi military spokesman Saree claims drones and a ballistic missile on King Khalid airport, plus attacks on Abha airport, Khamis Mushait air base and camps in Jizan and Asir (VocalPolitics1).
Ansarallah also claims it shot down a ~$20M Bayraktar Akinci drone (MenchOsint).
Coalition widening: Axios, relayed by GeromanAT: Syria is weighing 10,000-20,000 troops from its 90th and 84th Divisions; the 84th includes foreign Islamist fighters. Washington is "not opposed in principle" (GeromanAT, zerohedge).
Saudi Arabia, Pakistan and Turkey have activated their Mecca defence pact (zerohedge).
Reuters: Turkey is supplying mostly defensive equipment and intelligence, with no other deployment yet (s_m_marandi).
Megatron, relayed by 21WIRE, reports Pakistani military planes landing in Aden and ~200 US instructors helping Saudi jets find targets (21WIRE). https://no1sdailydigest.substack.com/p/daily-digest-2026-10-08
Gold & Geopolitics, Daily digest: 2026-10-07
The Yemen war has moved into Saudi airspace. The "Dawn of Yemen" push stalled near Dhubab, and the Houthis then shut Abha airport, halted Jeddah for about 90 minutes and overnight hit a Saudi-Pakistani camp inside Aden airport. Drones sank a ship in Bulgaria's EEZ, the Black Sea shipping war's first strike inside a NATO member's economic zone, and Russia fired one of its largest missile salvos of the year.
Hormuz attrition, record physical oil premiums and US credit stress are continuation; the PBoC's 23-tonne September is the precious-metals delta.
Houthis close Saudi airports by missile - Abha closed and flights diverted after a claimed ballistic-missile hit (MenchOsint). Ansarallah warned "all global airlines" out of Saudi airspace, with the airspace over Mecca and Medina excepted (maxosintintel).
Jeddah stopped functioning for ~1.5 hours late Tuesday amid heavy GPS jamming, with most flights diverted to Medina (MenchOsint).
Saudi civil aviation conceded that Najran and Jazan airports were hit, with 3 injured (MenchOsint, dana916).
Riyadh still denies being hit. Sentinel-2 imagery shows a damaged AESSCO defence-firm building at the airport (MenchOsint), and US Senator Chris Murphy reports urgent missile alerts on both nights he spent in the city (MenchOsint).
A Saudi-Pakistani force is hit inside Aden airport - Overnight missiles targeted Badr Camp, inside the Aden airport perimeter. It houses the Saudi-backed "Force 22" and a joint Saudi-Pakistani force (GeromanAT, MoloWarMonitor).
Pro-Houthi accounts claim Saudi and Pakistani officers and soldiers were killed after a weapons-laden cargo plane landed. There is no confirmation (RealPepeEscobar).
At least 4 Saudi C-130s and an AEW&C aircraft were tracked flying back north to Prince Sultan Air Base (MenchOsint).
Turkey and Pakistan reportedly activated their defence commitments to Riyadh (HHungduc). Pakistani troops are now inside the Houthi target set.
Jeddah stopped functioning for ~1.5 hours late Tuesday amid heavy GPS jamming, with most flights diverted to Medina (MenchOsint).
Saudi civil aviation conceded that Najran and Jazan airports were hit, with 3 injured (MenchOsint, dana916).
Riyadh still denies being hit. Sentinel-2 imagery shows a damaged AESSCO defence-firm building at the airport (MenchOsint), and US Senator Chris Murphy reports urgent missile alerts on both nights he spent in the city (MenchOsint).
A Saudi-Pakistani force is hit inside Aden airport - Overnight missiles targeted Badr Camp, inside the Aden airport perimeter. It houses the Saudi-backed "Force 22" and a joint Saudi-Pakistani force (GeromanAT, MoloWarMonitor).
Pro-Houthi accounts claim Saudi and Pakistani officers and soldiers were killed after a weapons-laden cargo plane landed. There is no confirmation (RealPepeEscobar).
At least 4 Saudi C-130s and an AEW&C aircraft were tracked flying back north to Prince Sultan Air Base (MenchOsint).
Turkey and Pakistan reportedly activated their defence commitments to Riyadh (HHungduc). Pakistani troops are now inside the Houthi target set.
Yemen-Saudi: "Dawn of Yemen" stalls at Dhubab; Houthis hold 95% of Taiz governorate and push into Lahij toward Aden
The Giants Brigades charged ~20 km down the Bab el-Mandeb coastal plain under cover of 100 Saudi jets, then stopped near Dhubab airport under fire from the mountains (DropSiteNews). MenchOsint's summary: "all the Saudi-backed forces did was taking Dhubab airfield" (MenchOsint).
Sources disagree on Mocha: - The government told Reuters its forces reached the city (zerohedge).
Mappers put the push at about a fifth of the way there (bonzerbarry), and Suriyak says Mocha was never captured (Suriyakmaps).
Taiz: Sana'a forces hold >95% of the governorate (Suriyakmaps) and have fully encircled the city (CKMapss).["Houthis"]
Lahij: Houthi units broke through the Aden forces' lines in Al-Maqatirah district and took mountain positions. The aim is fire control over Aden rather than capturing it (Suriyakmaps, A7_Mirza).
Human cost: The Houthi military statement counts 66 Saudi air and rocket strikes in 24h, with civilian casualties "mostly women and children", and 1,642 strikes since the escalation began (MenchOsint).
Saudi strikes on Sana'a, Amran, Al-Jawf and Saada followed late Tuesday (MenchOsint).
Houthi adviser al-Thawr: "Operations outside Yemeni territory toward Saudi Arabia are now a reality" (dana916).
Outside help: RAF and Saudi refuelling tankers are heading toward Yemen, and the Saudi tankers now fly from Prince Sultan Air Base instead of Jeddah (MenchOsint).
Syria's interim president met the Saudi crown prince (spagov). JHArnous reads the visit as a sales pitch for fighters (JHArnous).
The US says reports of a downed Navy helicopter in the Red Sea are untrue (zerohedge)...
The Giants Brigades charged ~20 km down the Bab el-Mandeb coastal plain under cover of 100 Saudi jets, then stopped near Dhubab airport under fire from the mountains (DropSiteNews). MenchOsint's summary: "all the Saudi-backed forces did was taking Dhubab airfield" (MenchOsint).
Sources disagree on Mocha: - The government told Reuters its forces reached the city (zerohedge).
Mappers put the push at about a fifth of the way there (bonzerbarry), and Suriyak says Mocha was never captured (Suriyakmaps).
Taiz: Sana'a forces hold >95% of the governorate (Suriyakmaps) and have fully encircled the city (CKMapss).["Houthis"]
Lahij: Houthi units broke through the Aden forces' lines in Al-Maqatirah district and took mountain positions. The aim is fire control over Aden rather than capturing it (Suriyakmaps, A7_Mirza).
Human cost: The Houthi military statement counts 66 Saudi air and rocket strikes in 24h, with civilian casualties "mostly women and children", and 1,642 strikes since the escalation began (MenchOsint).
Saudi strikes on Sana'a, Amran, Al-Jawf and Saada followed late Tuesday (MenchOsint).
Houthi adviser al-Thawr: "Operations outside Yemeni territory toward Saudi Arabia are now a reality" (dana916).
Outside help: RAF and Saudi refuelling tankers are heading toward Yemen, and the Saudi tankers now fly from Prince Sultan Air Base instead of Jeddah (MenchOsint).
Syria's interim president met the Saudi crown prince (spagov). JHArnous reads the visit as a sales pitch for fighters (JHArnous).
The US says reports of a downed Navy helicopter in the Red Sea are untrue (zerohedge)...
..Hormuz: at least 14 tankers hit in 7 days - UKMTO logged another tanker struck on Oct 5 in the southern corridor. The counts differ: 14 in 7 days per MenchOsint, 13 in 8 days per BrettErickson28.
10 of the 14 have been named. They are Kuwaiti-, UAE- and Greek-owned hulls, two Sinokor-managed ships and the Singapore-registered GAS VELA (MenchOsint).
India's foreign ministry says the UAE-owned ON PEACE was struck off Oman, injuring 12 crew. Its AIS has been off for two months, which fits US-escorted cargo (MenchOsint)...
..Oil: Dated Brent's physical premium hits a record $19/bbl while futures sit under $100; Venezuela's Cardon refinery is down...10 of the 14 have been named. They are Kuwaiti-, UAE- and Greek-owned hulls, two Sinokor-managed ships and the Singapore-registered GAS VELA (MenchOsint).
India's foreign ministry says the UAE-owned ON PEACE was struck off Oman, injuring 12 crew. Its AIS has been off for two months, which fits US-escorted cargo (MenchOsint)...
Black Sea: drones sink a ship in a NATO member's waters - Bulgarian PM Radev says sea and aerial drones hit two merchant ships in Bulgaria's EEZ. A Togo-flagged ship sank with its crew still missing; a Palau-flagged ship burned and its 18 crew were rescued (shanaka86, zerohedge).
Both ships (Alfa Watan and Able) are Turkish-owned and had called at Ukrainian Danube ports, as had the grain ship sunk off Romania the day before. A Turkish account blames a collision instead (DD_Geopolitics).
Two of Able's crew were flown to Varna with severe injuries (MyLordBebo).
Hours later a tanker burned off Sochi. HormuzLetter attributes it to a Ukrainian strike, and zerohedge reports oil spilling..
Both ships (Alfa Watan and Able) are Turkish-owned and had called at Ukrainian Danube ports, as had the grain ship sunk off Romania the day before. A Turkish account blames a collision instead (DD_Geopolitics).
Two of Able's crew were flown to Varna with severe injuries (MyLordBebo).
Hours later a tanker burned off Sochi. HormuzLetter attributes it to a Ukrainian strike, and zerohedge reports oil spilling..
Russia's overnight salvo: most Kh-101s got through - The tallies diverge:
A strike map relayed by GeromanAT counts ~75 missiles, including 36 Kh-101.
AMK's count, relayed by MilitarySummary, has ~48 Kh-101 with only ~10 intercepted. It also has 9 of 12 Kalibrs downed and ~4 of 10 Iskanders stopped by Patriots.
Most impacts were in Kremenchuk, including its hydroelectric plant, plus Pryluky and Oleksandriya. Both Zircons hit the Trypillya thermal power plant (same source).
The pro-Ukrainian Hudson War Mapping: "Ukrainian air defence is faltering catastrophically right now" (hudsonwarmap).
Moscow says it hit Flamingo cruise-missile production, including Pivdenmash in Dnipro, AvtoKraz in Kremenchuk and a tobacco plant it says now makes ammunition (MilitarySummary).
Civilians absorb it first: - Ukrenergo had already brought in rolling outage schedules (GeromanAT).
The Kyivska 750kV substation, which links Kyiv to the western nuclear plants, has been hit for the 5th time in a week, leaving part of Kyiv dark. In clement_molin's words, "winter is in 75 days"...
A strike map relayed by GeromanAT counts ~75 missiles, including 36 Kh-101.
AMK's count, relayed by MilitarySummary, has ~48 Kh-101 with only ~10 intercepted. It also has 9 of 12 Kalibrs downed and ~4 of 10 Iskanders stopped by Patriots.
Most impacts were in Kremenchuk, including its hydroelectric plant, plus Pryluky and Oleksandriya. Both Zircons hit the Trypillya thermal power plant (same source).
The pro-Ukrainian Hudson War Mapping: "Ukrainian air defence is faltering catastrophically right now" (hudsonwarmap).
Moscow says it hit Flamingo cruise-missile production, including Pivdenmash in Dnipro, AvtoKraz in Kremenchuk and a tobacco plant it says now makes ammunition (MilitarySummary).
Civilians absorb it first: - Ukrenergo had already brought in rolling outage schedules (GeromanAT).
The Kyivska 750kV substation, which links Kyiv to the western nuclear plants, has been hit for the 5th time in a week, leaving part of Kyiv dark. In clement_molin's words, "winter is in 75 days"...
..["Dollar is resetting"] Gold: PBoC buys 23 tonnes in September, its most since 2023, as Russia's fivefold buying window opens today...
Where the metal is going: CNBC says Russian gold is "flooding" Hong Kong (Silver Santa). Nikkei says Asian producers are hoarding their own output (zerohedge)...
..Europe: Le Pen's shadow budget narrows the French spread by 12bp; ex-BND chief Hanning is arrested for treason
France, bonds: Le Pen's shadow budget pairs sharp deficit cuts with a call for the ECB to cap borrowing costs. The 10Y fell 16bp and the spread over Germany narrowed 12bp (zerohedge)...
France, bonds: Le Pen's shadow budget pairs sharp deficit cuts with a call for the ECB to cap borrowing costs. The 10Y fell 16bp and the spread over Germany narrowed 12bp (zerohedge)...
..Germany: Merz: He says Russia is at war with Germany (AXChristoforou).
His satisfaction rating is 11% (Wahlen_DE).
The AfD won its first Landtag presidency, in Saxony-Anhalt, with 9 more votes than its own caucus holds (MyLordBebo)...
His satisfaction rating is 11% (Wahlen_DE).
The AfD won its first Landtag presidency, in Saxony-Anhalt, with 9 more votes than its own caucus holds (MyLordBebo)...
..What if Trump just needed cover to talk to Putin? Russia: one suspected plague death in Irkutsk brings a US health alert and a Trump-Putin call; Moscow tells WHO there is no case https://no1sdailydigest.
Gold & Geopolitics, Daily digest: 2026-10-06
The Saudi-Yemen war became a two-way air war. Riyadh launched "Dawn of Yemen" with 100 jets, reportedly with US tanker and targeting help. The Houthis answered with strikes on Riyadh's airport, the Rabigh refinery and two southern Saudi airports, while closing the ring around Taiz. US 10Y and 30Y yields hit their highest since 2002 on the same day the Nasdaq 100 set a record, and Aramco's CEO said the world's oil cushion is basically gone.
Hormuz, French bonds and Ukraine are continuing stories, each with new numbers. https://
But Israelis would Never Kill Fellow Jews ;-o Israel Was Ready To Shoot Down Flydubai Jet if It Kept Course for Tel Aviv: Report https://openthemagazine.com/
Among those killed were a Christian mother and her daughter, who were mourned during a funeral at St. Porphyrius Orthodox Church in Gaza City https://news.antiwar.com/
Israeli forces are occupying around 70 percent of Gaza while intensifying the siege and continuing the genocide that is entering its third year https://thecradle.co/
At least nine Palestinians have been killed and 18 injured by Israeli strikes over the past 24 hours, according to Gaza's Ministry of Health https://thecradle.co/
Israel Detains Journalists as Settlers Burn Olive Trees, Attack Palestinian Farmers https://www.
IOA forces Jerusalemite family to raze home in Silwan https://english.palinfo.com/
Pelosi-backed US candidate calls for ‘full arms embargo’ on Israel
Connie Chan, endorsed by Nancy Pelosi to succeed her in California, says she will vote to ‘end a genocide in Gaza’. https://www.aljazeera.com/
Connie Chan, endorsed by Nancy Pelosi to succeed her in California, says she will vote to ‘end a genocide in Gaza’. https://www.aljazeera.com/
August Hanning, previously tied to a high-profile kidnapping case, is accused of buying state secrets from his former aide https://www.rt.com/news/646794-german-spy-chief-arrested/
Moon of Alabama, English Outsider: Attrition War With NATO – Attacks On Bridges In Ukraine
A couple of years ago Helmer had a theory about the earlier attacks on Ukrainian energy infrastructure. He reckoned those earlier attacks were not designed to wreck but to probe. To map the critical connections, assess speed of repair, and with this information prepare plans for a more incapacitating attack should that be decided on in the future.Just wonder if the current bridge attacks are on the same lines. The Russians don’t want to wreck the bridges. They just want to know they can stop Ukrainian logistics dead if they want to. The timing of that would be critical. Not too early because that would allow time for workarounds. Not too late because it’d be difficult to do it all at once.
The attacks would be incapacitating but not destructive. The Russians will want the bridges intact later. That assumes the Ukrainians themselves won’t destroy the bridges during the end phase...
..Failing successful negotiations, the Russians knew from day one of their SMO that they had to destroy all NATO could throw at them. Proxies and equipment. Most convenient place for that was the Donbass so let the proxies and the materiel get across the Dnieper to be destroyed.
A simplistic argument, always was, but in practice that’s what’s happened. Not only is NATO now running out of men and materiel, one can look at the SMO as a systematic bleeding dry of the NATO financial resources for both. The proxies have to be funded: without Western money they’d long since have negotiated a surrender. It’s getting increasingly difficult to fund them. As for materiel, NATO’s running out of it and it’s very costly to send in more...
A simplistic argument, always was, but in practice that’s what’s happened. Not only is NATO now running out of men and materiel, one can look at the SMO as a systematic bleeding dry of the NATO financial resources for both. The proxies have to be funded: without Western money they’d long since have negotiated a surrender. It’s getting increasingly difficult to fund them. As for materiel, NATO’s running out of it and it’s very costly to send in more...
..Recently I linked to a video in which Havrysho details (vid) the sheer amount of destruction resulting from NATO using Ukraine as a means of attacking Russia. The destruction’s so horrendous and the death toll so great it’s quite possible Ukraine will cease to exist as a viable country.
Since ’22 the question’s been, how much longer will it last before NATO finally lets our proxies off the hook? We now have the answer. Doesn’t look as if NATO’s giving up unless it has to. US and European politicians have been encouraging Kiev to feed more proxies into the killing fields. Telling Kiev to lower the recruitment age or use women as soldiers. We are generous indeed with the lives of our proxies, as long as we need not risk our own. That’s how it’ll go as long as NATO can keep it up and as long as our proxy lasts...
Since ’22 the question’s been, how much longer will it last before NATO finally lets our proxies off the hook? We now have the answer. Doesn’t look as if NATO’s giving up unless it has to. US and European politicians have been encouraging Kiev to feed more proxies into the killing fields. Telling Kiev to lower the recruitment age or use women as soldiers. We are generous indeed with the lives of our proxies, as long as we need not risk our own. That’s how it’ll go as long as NATO can keep it up and as long as our proxy lasts...
..The wholesale destruction of crucial infrastructure is not what the Russians needed or wanted to do until it became clear that NATO’s determination to use Ukraine as an attack dog, no matter the cost to the Ukrainians, had no limits. https://www.moonofalabama.
Between asking the question inside the Kremlin and answering it in fire orders to the command-and-control line, there is a pause for reflection, debate, decision, change of mind, more pause (aka temporizing, vacillation, equivocation, indecision, dithering, shilly-shallying).
“How can we counter an aggressor?” Putin said aloud on October 1. “We are not threatening anyone. We are simply stating that we do not have all that many means of defending ourselves. And, incidentally, neither that letter nor the Foreign Ministry’s statement mentions the use of nuclear weapons. They speak, as I have just put it, of employing all the forces and means available to our country. As for how that would actually happen, we will decide that ourselves…We are not threatening anyone. https://johnhelmer.net/world-
John Helmer says the Russian General staff is acting Putin to clearly define "Strategic victory", as denazification and capitulation are not looking likely on the current trajectory, despite Russian ground advances and destruction of electrical, road & rail infrastructure, data centers and gasstations.
Putin has decided not to explicitly name the enemy driving this war, but it City of London financial interest, like the BoE, Blackstoe, BlackRock and European affiliates in Paris, Frankfurt, Brussels and Amsterdam, which have all invested heavily in Ukraine, Ukrainian assets, and the plan to politically break Russia and return to the happy looting of the 1990s.
It can be understood why Putin does not name "Western European old-money" as the enemy, but he has lately been attacking a lot of assets of those entities. They have lost the Donbas mines they "own", but need not declare that while war persists. There is nothing for them to declare while war persists, but they will be ruined if they declare those losses.
Can Russia ruin the City of London and associated interests so that they have nothing to defend? He can hit factories they partly own preferentially. He can ruin Ukrainian shipping, in which they have interests. He may eventually remove Ukrainian Black Sea access by taking Odessa and leaving a western Ukrainian rump-state of Galicia, which is the core of Russia-hatred. Putin can physically destroy or capture all Ukrainian "property" of western financial groups and banks. He can do this without hurry, as City of London interests wither for other reasons, like US stablecoin plans to eliminate their "Eurodollar" banking arrangement, explained above by Ellen Brown. WORLD WAR III – THIS IS THE PHONEY WAR STAGE
Quietly, behind the Kremlin Wall, the General Staff has asked: What will be our strategic victory?
The General Staff is saying to the Commander in Chief: Look, we are achieving our tactical battlefield objectives on the front of the Ukrainian battlefield, and also our operational objectives in the west and south of the Ukraine – from Kiev to Lvov and the Polish border, as well as Odessa and the Black Sea ports. However, our intelligence reports indicate we are still quite far from achieving our strategic end-of-war objectives – demilitarizing Ukraine so that Russia will be secure from drone and missile attack in the future; and denazifying the Ukrainian regime in Kiev so that it will not remain the fascist gun platform against Russia which it has been for more than a hundred years.Between asking the question inside the Kremlin and answering it in fire orders to the command-and-control line, there is a pause for reflection, debate, decision, change of mind, more pause (aka temporizing, vacillation, equivocation, indecision, dithering, shilly-shallying).
“How can we counter an aggressor?” Putin said aloud on October 1. “We are not threatening anyone. We are simply stating that we do not have all that many means of defending ourselves. And, incidentally, neither that letter nor the Foreign Ministry’s statement mentions the use of nuclear weapons. They speak, as I have just put it, of employing all the forces and means available to our country. As for how that would actually happen, we will decide that ourselves…We are not threatening anyone. https://johnhelmer.net/world-
Some open source media accounts have described that the Liberian-flagged oil tanker was "loaded almost to the brim" transporting crude oil from Russia to India. Speculation is growing that it was hit by uncrewed surface vessels while carrying its crude cargo. https://www.zerohedge.com/
They will have to ship it all to the gulf-coast, right? Explosion Rocks Venezuela's Second-Largest Refinery https://www.zerohedge.com/energy/explosion-rocks-venezuelas-second-largest-refinery
Art Berman is the iconic oil-economy consultant engineer to financial executives. Art explains everything exhaustively: A World-Changing Event: We're Not Going Back to January 2026, Nate Hagens, The Great Simplification #237 with Art Berman https://natehagens.substack.com/p/a-world-changing-event-were-not-going
The WikiLeaks co-founder has played a key role in creating an alternative to mainstream media, which has been controlled by intelligence services for decades, Ray McGovern has said https://web.archive.org/web/20261006040328/https://www.rt.com/news/646766-assange-wikileaks-fifth-estate/
Celia Farber on a certain ruling-class archetype: Tate Brothers Published Extradition Package Charges That They Were Found To Have Videos Including Bestiality (Sex With Horses And EELS,) Sex With Children, And Even Boasted Of Killing A Child - Conservative Influencers Who Defended Them Silent https://celiafarber.substack.com/p/tate-brothers-published-extradition
Columbine Valley Police pursued theft charges against a Colorado woman based on footage captured on Flock cameras around her hometown. https://courthousenews.com/colorado-woman-wrongfully-cited-for-theft-files-class-action-against-flock/
Peter McCullough MD, BREAKING--Anti-Plague Laboratory Worker Dies with Pneumonia Suspicious for Pneumonic Plague
Treatable if diagnosed early, rapidly fatal if untreated or if bacteria has been manipulated to be resistant to antibiotics https://www.thefocalpoints.com/p/breaking-anti-plague-laboratory-worker Got doxycycline? More Than 21 Plague Vaccines Are Already in Development: mRNA, saRNA, DNA, Viral Vector, Bacterial Vector, Subunit, and Live-Attenuated - Why were governments and military biodefense programs already investing so heavily in plague vaccines before the current plague hysteria erupted? https://www.thefocalpoints.com/p/more-than-21-plague-vaccines-are
Sasha Latypova, Most vaccines are violating Biologics labeling law - Merck’s MMRII is statutorily misbranded. https://sashalatypova.substack.com/p/most-vaccines-are-violating-statutory
A California labor-and-delivery nurse says her Fresno hospital went from a handful of stillbirths a year to more than 20 in a single month once COVID shots were pushed on pregnant women, then answered the pile-up with an email on how to handle the dead.
Michelle Spencer has worked the antepartum, postpartum and labor-and-delivery floor at Community Regional Medical Center in Fresno since 2017. In interviews that Children's Health Defense aired, she described the unit before the pregnancy rollout as a place that saw about four stillbirths a year. After the shots started going into pregnant women, she said, it became four a week, and it did not stop. https://www.zerohedge.com/medical/nurse-stillbirths-exploded-after-covid-shots-hit-maternity-wards John Leake, Should HHS Secretary Kennedy Resign to Protest Ongoing Use of C-19 Vaccines? A review of notable public figures in history who resigned from office. https://www.thefocalpoints.com/p/should-hhs-secretary-kennedy-resign
Meryl Nass MD, NIH to study and treat vaccine injuries
Health and Human Services Secretary Robert F. Kennedy Jr. announced a new research initiative at the National Institutes of Health to study vaccine injuries on Monday, according to people familiar with the matter.
Kennedy visited the NIH campus in Bethesda, Maryland, to unveil the initiative, said the people, who weren’t authorized to discuss the event publicly. Kennedy attended a ribbon-cutting ceremony for a new NIH clinic to study and care for patients with vaccine injuries, some of the people said. Other elements of the plan include a proposal to reimburse doctors for reporting suspected vaccine injuries, a modernization of the agency’s system for tracking adverse events from vaccines and new requirements around electronic health records, the people said. https://merylnass.substack.com/p/nih-to-study-and-treat-vaccine-injuries
We analyzed nationally representative U.S. government data (NHIS) from 21,990 children in the first-ever study examining childhood COVID vaccination and autism outcomes. https://www.thefocalpoints.com/p/breaking-study-covid-19-vaccination-9fd
Steve Kirsch, Parent poll shows nearly 80% of kids who became suddenly autistic had their last normal day on the day they got vaccinated
That statistic is inconsistent with “vaccines don’t cause autism.” https://kirschsubstack.com/p/parent-poll-shows-nearly-80-of-kids Peter McCullough MD, Sacrifice: How the Deadliest Vaccine in History Targeted the Most Vulnerable
Dr McCullough interviews Dr James Thorp, author, physician, father, and tireless defender of mothers with infants Sacrifice documents the true story of Dr. James Thorp, a respected doctor of maternal fetal medicine, who in 2020, finds his entire profession has lost its mind, as well as its soul. Stunned to find his colleagues take the bribe money, drink the Kool-Aid, and push the COVID-19 shots with no regard for patient safety. Thorp is one of the few Ob-Gyns to bear witness and broadcast the multitude of pregnancy complications including miscarriages, stillbirths, and many other tragic outcomes resulting from the shots.
One of the few doctors from the maternal-fetal medicine realm who publicly protested the Covid shots as directly deadly to his patients—unborn babies—Thorp witnessed the carnage on a daily basis firsthand, documented it, published papers, and spoke up on countless media platforms, and in Senate hearings in Washington, DC. He was terminated, without any cause, and went on to campaign around the country to get the truth out. https://www.thefocalpoints.com/p/sacrifice-how-the-deadliest-vaccine Compelling and counter-narrative evidence: Heart Attacks Were Virtually Unknown in the U.S. Before 1921. Here’s Why...
Rethinking CVD (Part 1): Unpacking the Historical Explosion of Coronary Disease, the Introduction of Industrial Seed Iils, and the Truth About Animal Fats. https://rethinkingmedicine.substack.com/p/rethinking-cardiovascular-disease 
