Former Russian president makes disturbing threat to strike after general claims World War 3 has already begun
Russia has escalated its rhetoric amid rising global tensions, with high-ranking military and political figures making alarming statements:
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General Apti Alaudinov, a senior Russian military official, declared that World War 3 has already begun. He urged the Kremlin to mobilize up to one million troops in response to Israel’s attacks on Iran and claimed that Russia must prepare for a large-scale global conflict.
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Former President Dmitry Medvedev, now deputy chairman of Russia’s Security Council, advocated for preemptive strikes against NATO and condemned the West’s actions as attempts to “destroy” Russia. He described the current situation as a full-scale war masked as a proxy conflict.
Meanwhile, tensions between Donald Trump and Vladimir Putin have also intensified:
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Trump issued a 50-day ultimatum demanding a ceasefire in Ukraine, threatening severe sanctions otherwise. He also rebuffed Putin’s offer to assist in the Israel-Iran conflict, reportedly saying, “I need help with you.”
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Russia’s Captain Vasily Dandykin threatened the use of “Oreshnik” missiles against European nations, dismissing concerns about missile capacity and accusing European leaders of provoking conflict reminiscent of Nazi aggression.
Amid these escalating threats, Iran’s Supreme Leader Ayatollah Khamenei called for severe retribution against Israel, vowing harsh punishment for recent targeted assassinations in Tehran. The global security situation remains volatile, with fears of wider conflict continuing to grow. Read the Article.
The U.S. debt outlook is so dire it now resembles the student loan crisis, former White House economic adviser says
The United States is facing a looming fiscal crisis, according to Jared Bernstein, former chair of President Biden’s Council of Economic Advisers, who now warns that America’s debt trajectory is becoming dangerously unsustainable.
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Bernstein, once a vocal deficit dove, now aligns with fiscal hawks, citing the alarming shift in economic conditions where debt interest is outpacing GDP growth — a tipping point likened to the student loan crisis.
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He argues that, like borrowers whose income can’t keep up with rising loan payments, the U.S. risks a “debt shock” unless fiscal policy is reined in. Interest payments are set to surpass $1 trillion next year, overtaking spending on Medicare and defense.
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While Bernstein acknowledges pandemic-era spending and high inflation as contributing factors, he also blames Trump-era tax cuts and tariffs for further weakening the U.S. fiscal outlook. He urges preemptive, automatic budget safeguards to avoid abrupt tax hikes or spending cuts if the debt spiral continues.
With the debt-to-GDP ratio nearing historic highs and real interest rates rising sharply, economists and analysts warn that America’s debt path is increasingly unsustainable. Read the Article.
Fed Chair Jerome Powell hit with criminal referral by House GOP Trump ally
Rep. Anna Paulina Luna has formally referred Federal Reserve Chair Jerome Powell to the Department of Justice for criminal investigation, accusing him of perjury in connection with testimony about the costly renovation of the Fed’s Eccles Building.
Luna alleges Powell made materially false statements under oath during Senate testimony in June, specifically denying the existence of luxury features like a VIP dining room and rooftop garden, while claiming cost increases were minor—despite internal documents showing otherwise.
The referral intensifies pressure from Trump-aligned conservatives who want Powell removed before his term ends in 2026, though Powell denies wrongdoing and has launched an internal probe; critics warn firing him could destabilize markets already sensitive to Fed actions. Read the Article.
Aug. 1 is ‘hard deadline’ for Trump’s tariffs, Commerce Secretary Lutnick says
Commerce Secretary Howard Lutnick confirmed that the U.S. will impose new tariffs starting August 1, marking a firm deadline for trading partners to comply with President Trump’s revised trade policy.
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Lutnick emphasized that while talks can continue beyond August 1, countries will begin paying the new tariffs immediately. Smaller nations, including many in Latin America, the Caribbean, and Africa, will face baseline rates of 10%, while larger economies must either negotiate or face higher tariffs—up to 40% in some cases.
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The announcement ends months of uncertainty since Trump first introduced the new tariff plan in April. Recent letters sent to foreign governments have triggered last-minute negotiations, as countries seek to avoid the steepest levies.
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Trump’s administration argues the tariffs are a means to force fairer trade, but critics warn they may provoke retaliation and raise global economic tensions, especially as the policy could dramatically impact U.S. allies and trade flows.
Silver price surge outpaces gold amid high demand as global risk persists
Silver has become the best-performing precious metal of 2025, with prices jumping over 30% since late 2024—surpassing gold—as investors flock to safe-haven assets amid global instability and booming industrial demand.
The rally is being driven by silver’s dual role as both a hedge in times of geopolitical uncertainty and a key material in rapidly growing sectors like solar energy, electric vehicles, and AI-related electronics, which pushed industrial demand to a record 680.5 million ounces in 2024.
With demand outstripping supply for four consecutive years—culminating in a 2024 deficit of nearly 149 million ounces—banks in China are capitalizing by expanding their silver offerings, while the global market faces mounting pressure from a cumulative supply shortfall equal to 10 months of mine production.
