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President Donald Trump said Wednesday that Republicans fixated on Jeffrey Epstein are getting ‘duped’ by Democrats, further defending Attorney General Pam Bondi’s handling of the case. 

During an Oval Office meeting with the crown prince and prime minister of Bahrain, Trump said his predecessor, former President Joe Biden, reversed his first-term energy policies, leading to higher inflation. 

‘What Biden did is he ended our policies,’ Trump told reporters. ‘He doesn’t have a policy. Some lunatic around the desk had a policy. Whoever operated the autopen had a policy which is, by the way, I think the biggest scandals – that’s the scandal they should be talking about, not Jeffrey Epstein, the scandal you should be talking about is the autopen because I think it’s the biggest scandal, one of them, in American history.’ 

In early June, Trump directed Bondi and the White House counsel to investigate whether Biden’s aides used an autopen to sign official documents – such as pardons, executive orders, and judicial appointments – without his personal awareness. Biden has denied the claim. The House Oversight Committee is also investigating the conspiracy and has issued letters and subpoenas for testimony from several former White House aides, as well as Biden’s former White House physician, Dr. Kevin O’Connor. 

Trump said Wednesday that Bondi could release ‘whatever’s credible’ related to the Epstein case before addressing Republican infighting about what some categorize as an about-face on transparency by the administration. 

‘He’s dead. He’s gone,’ Trump said of Epstein. ‘And, all it is, is the Republicans, certain Republicans got duped by the Democrats, and they’re following a Democrat playbook and no different than Russia, Russia, Russia and all the other hoaxes.’

Trump said he couldn’t speak to FBI Director Kash Patel’s comments on the case but further defended Bondi.

‘I really think that she’s done very good. She says, ‘I gave you all the credible information,’ and if she finds any more credible information, she’ll give that too. What more can she do than that?’ Trump said. ‘I mean, honestly, what more can she do?’

His comments come after FBI deputy director Dan Bongino reportedly had a heated argument with Bondi over the Epstein case last week and took a day off from the job to cool down, sources previously told Fox News. 

A growing list of Republicans have demanded greater transparency from the Justice Department on the case. Trump earlier Wednesday said on social media that Democrats had come up with another ‘hoax,’ this time on Epstein, after previously being responsible for the widely discredited ‘Steele dossier’ during the Trump-Russia probe, as well as the cover-up of Hunter Biden’s laptop story ahead of the 2020 presidential election. 

‘Their new SCAM is what we will forever call the Jeffrey Epstein Hoax, and my PAST supporters have bought into this ‘bull—-’ hook, line, and sinker,’ Trump wrote on TRUTH Social. ‘They haven’t learned their lesson, and probably never will, even after being conned by the Lunatic Left for 8 long years.’ 

In the Oval Office, Trump said the Justice Department, and administration more broadly, are dealing with ‘bigger problems.’ 

‘We have problems with millions of illegal people that came in here, and they’re killers and murderers. We have 11,888 murderers that were allowed into our country by Biden. Sleepy Joe Biden, stupid Joe Biden, he allowed them into our country. And you know what we got to do something about? She’s got a lot of things she’s working on,’ Trump said. ‘It’s very sad that somebody can be waylaid, just get waylaid… I think she’s doing a great job.’ 

Trump said he has ‘lost faith’ in certain people in his own party regarding the Epstein case. 

‘I lost that because they got duped by the Democrats. The Democrats are good for nothing. They’ve done a terrible job. They almost destroyed our country,’ Trump said, championing how the passage of his ‘big, beautiful bill’ ensures ‘the biggest tax cut in history’ and the ‘biggest regulation cuts in history.’ 

‘These are the things that they should be talking about,’ Trump said. ‘The ‘big beautiful bill’ is one of the greatest pieces of legislation ever in this country, and the Democrats have nothing to combat it.’ 

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Iran has until the end of August to agree to a nuclear deal with the United States and its allies, Fox News has learned. 

Secretary of State Marco Rubio and the foreign ministers of France, Germany and the United Kingdom set the de facto deadline, according to three sources with knowledge of a call Wednesday among the officials. 

If Tehran fails to agree to a deal, it would trigger the ‘snapback’ mechanism that automatically reimposes all sanctions previously imposed by the United Nations Security Council. 

The sanctions were lifted under the 2015 Iran deal. 

The Trump administration has tried pressuring Iran to accept a deal to walk back its nuclear program after U.S. and Israeli strikes targeting nuclear sites. 

United Against Nuclear Iran, a nonprofit that opposes Tehran’s effort to develop a nuclear weapon, applauded Wednesday’s news. 

‘Tehran has learned that, for the Trump administration, a deadline means a deadline,’ UANI Chairman and former Florida Gov. Jeb Bush and CEO Ambassador Mark D. Wallace said in a joint statement. 

‘After failing to agree to a deal within 60 days of diplomacy, the United States and Israel undertook targeted military action against the regime in June. Consequently, Tehran should take this new deadline seriously.’

On Monday, Iran warned it would retaliate if the U.N. Security Council imposes the snapback sanctions. 

‘The threat to use the snapback mechanism lacks legal and political basis and will be met with an appropriate and proportionate response from the Islamic Republic of Iran,’ Foreign Ministry spokesperson Esmaeil Baghaei claimed during a press conference, according to a Reuters report.

Baghaei didn’t specify how Tehran would retaliate. 

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California Gov. Gavin Newsom, a Democrat, has made several comments in recent days pointing out President Donald Trump’s ties to deceased sex predator Jeffrey Epstein, as the president seeks to shut down questions about his administration’s refusal to release documents surrounding Epstein’s case and its claims that there is no ‘client list.’

Earlier this week, Newsom made an appearance on the Shawn Ryan Show, in which he was asked about Trump’s administration not releasing Epstein files after vowing during his campaign to release such documents.

‘The whole thing has, to me, always been a side show,’ Newsom said. ‘But I thought it got real interesting when Elon [Musk] put out that tweet and then all of a sudden a few weeks later, ‘what file?”

Newsom was referring to a since-deleted post on X in which Musk said last month that Trump ‘is in the Epstein files’ and that ‘is the real reason they have not been made public.’ Musk, a former close ally of Trump before their recent spat, has since made several more posts criticizing the administration for not releasing any Epstein ‘client list’ or making any arrests in connection to the Epstein case.

‘When Elon put that out, I thought it was a big tell,’ Newsom said.

The California governor added that Trump and Epstein knew each other, citing the images and videos of the two men together.

U.S. Attorney General Pam Bondi said earlier this year that an Epstein ‘client list’ was on her desk before the Justice Department and FBI recently claimed that Epstein killed himself and that there is no evidence he kept such a list. Bondi also walked back her earlier comments, saying she was referring to the Epstein case file, not a ‘client list.’

Trump has sought to avoid the Epstein topic as of late, repeatedly arguing the issue does not matter anymore. He also said he no longer wants the support of ‘weaklings’ who continue to press the Epstein case.

‘Their new SCAM is what we will forever call the Jeffrey Epstein Hoax, and my PAST supporters have bought into this ‘bulls—,’ hook, line, and sinker,’ Trump wrote on Truth Social on Wednesday.

‘I have had more success in 6 months than perhaps any President in our Country’s history, and all these people want to talk about, with strong prodding by the Fake News and the success starved Dems, is the Jeffrey Epstein Hoax,’ he added. ‘Let these weaklings continue forward and do the Democrats work, don’t even think about talking of our incredible and unprecedented success, because I don’t want their support anymore!’

Trump said at the White House on Wednesday that Bondi could release ‘whatever’s credible’ related to the Epstein case as he defended her work on the matter and criticized Republicans who are still pushing for Epstein material to be released.

‘He’s dead. He’s gone,’ Trump said of Epstein. ‘And, all it is, is the Republicans, certain Republicans got duped by the Democrats, and they’re following a Democrat playbook and no different than Russia, Russia, Russia and all the other hoaxes.’

Newsom made a series of social media posts in recent days about Trump and Republicans declining to make information on the Epstein case public.

‘Why try so hard to block a list that ‘doesn’t exist’…?’ Newsom said on Tuesday, responding to news that House Republicans blocked an effort by Democrats to force the release of Epstein files.

The Golden State Democrat also wrote ‘Retweet’ in reply to a 2019 post from conservative commentator Charlie Kirk calling on Trump in his first term to order an investigation into Epstein for sex trafficking.

In another post, the governor wrote that Trump ‘calls his base ‘bad people” in response to a recent clip of the president saying he does not understand why the Epstein case would be of interest to anybody.

‘It’s pretty boring stuff,’ Trump told reporters in the clip. ‘I think only bad people want to keep something like that going.’

Newsom jokingly said he forgot about the Epstein files in response to a post Trump made announcing that Coca-Cola agreed to use real cane sugar.

‘Oh thank god! I’ve totally forgotten about the Epstein files now!’ Newsom said on Wednesday.

The governor posted a clip later on Wednesday with a picture of Trump and Epstein together, along with lyrics from the Nickelback song ‘Photograph’ that says ‘Look at this photograph.’

‘Nickelback said it best,’ Newsom wrote.

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The global race to harness the power of artificial intelligence (AI) has begun. President Donald Trump got it right from the start when he issued an executive order in January to strengthen America’s AI – the next great technological forefront. 

From Day One as Environmental Protection Agency (EPA) administrator, it was clear that EPA would have a major hand in permitting reform to cut down barriers that have acted as a roadblock so we can bolster the growth of AI and make America the AI capital of the world. 

In fact, it’s an endeavor so important, it is a core pillar of my Powering the Great American Comeback initiative. 

Those looking to invest in and develop AI should be able to do so in the U.S., while we work to ensure data centers and related facilities can be powered and operated in a clean manner with American-made energy.

Let’s put this into perspective. The global AI manufacturing market is valued at about $7 billion, but it’s expected to explode to $48 billion by 2030. Already industries across every sector are integrating AI into their operations, and in order for this growth to continue, AI needs massive data centers, and data centers need electricity that is always on. Lots of it.

Power demand for data centers that support AI, which only use 3% to 4% of U.S. electricity, will eat up nearly 10% of U.S. electricity supply in 10 years according to the Energy Information Administration. To support this rapid growth, states need to be able to build more baseload power generation, and that’s where EPA comes in. 

EPA wants to increase certainty for owner-operators in the permitting process, making it clear what kind of permits are needed for new and modified projects.

Policies inherited from the Biden administration have been criticized by many as making EPA a brick wall that impedes the growth of the AI industry. 

In addition, much of current Clean Air Act (CAA) requirements for building data centers dates back to the 1990s, when technology was practically prehistoric compared to modern advancements. These rules require companies to install pollution control equipment when they build new facilities or make a change that increases emissions significantly.

The digital revolution has ushered in new needs and new industries which demand new permitting rules that help, not hamper development.

Under President Trump’s leadership, the permitting reform we are looking to undertake, if finalized, will help clear the way for data center and AI development across the U.S., while ensuring that human health and the environment are protected. 

If a power company wanted to restart a plant that had been out of service to meet increased grid demand, under the Biden EPA they had to go through the entire permitting process all over again. 

Under our upcoming proposed rules, if finalized, utilities would be allowed to restart plants much faster, especially in times of emergencies like storm recovery. Anyone who has lost power during or after a weather event knows how critical it is to get back on the grid. 

Through the CAA permitting process, EPA will seek to address the minimum requirements for public participation when it comes to minor emitters so the protest of a few does not unnecessarily thwart progress for all Americans. 

Our permitting reforms will also help expedite construction of essential power generation and industrial facilities. EPA will be a partner to state, local and Tribal air agencies instead of a hindrance.

At EPA, we are also working on redefining preconstruction, which would, if finalized, only require a company to obtain an air permit when the company actually breaks ground.

A company looking to build an industrial facility or a power plant, should be able to build what it can before obtaining an emissions permit. For example, companies could install cement pads or conduct other construction activities that aren’t related to regulated air emissions.

Other countries are racing to be number one. America’s AI leadership depends on our ability to build the infrastructure that powers innovation.

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Senate Republicans blasted through Democratic and internal opposition to pass President Donald Trump’s multibillion-dollar clawback package early Thursday morning.

The final vote tally was 51-48, with Republican Sens. Susan Collins of Maine and Lisa Murkowski of Alaska joining every Democrat in voting against it. The package will now be sent to the House, which has until Friday to pass it. 

The $9 billion rescissions bill tees up cuts to ‘woke’ spending on foreign aid programs and NPR and PBS that Congress previously approved. Republicans have pitched the bill as building on their quest to root out waste, fraud and abuse in the federal government.

Senate Majority Leader John Thune, R-S.D., said that it was a mission shared by the GOP and Trump, whose Department of Government Efficiency (DOGE) identified many of the cuts included in the package.  

‘I appreciate all the work the administration has done in identifying wasteful spending,’ Thune said. ‘And now it’s time for the Senate to do its part to cut some of that waste out of the budget. It’s a small but important step toward fiscal sanity that we all should be able to agree is long overdue.’

The president’s rescissions package proposed cutting just shy of $8 billion from the U.S. Agency for International Development (USAID), and over $1 billion from the Corporation for Public Broadcasting (CPB), the government-backed funding arm for NPR and PBS.

It’s likely the first of many to come from the White House.

Unlike the previous procedural votes, Vice President JD Vance was not needed to break a tie. Sen. Mitch McConnell, R-Ky., voted against the preceding procedural votes to advance the package on Tuesday night, but ultimately backed the bill. 

It now heads to the House, where Republicans have warned the Senate to not make changes to the package. But just like during the budget reconciliation process earlier this month, the warnings from House Speaker Mike Johnson, R-La., and fiscal hawks fell on deaf ears in the upper chamber.

The Senate GOP’s version of the bill is indeed smaller, by about $400 million, after Senate leaders agreed to make a carveout that spared international Bush-era HIV and AIDS prevention funding.

Other attempts were made during a marathon vote-a-rama process to make changes to the bill, but none were able to surmount the 60-vote threshold in the upper chamber.

Senate Democrats tried to kneecap the bill with amendments that targeted what they argued were cuts that would diminish emergency alerts for extreme weather and disasters, erode America’s and isolate rural Americans by creating news deserts with cuts to public broadcasting, among others.

‘Why are we talking about cutting off emergency alerts,’ Sen. Maria Cantwell, D-Wash, said. ‘That’s 1,000 times these stations were warned to tell people that their lives were in danger.’

Sen. Patty Murray, D-Wash., the top Democrat on the Senate Appropriations Committee, contended that much more was at stake than the spending cuts.

The Washington Democrat charged that lawmakers were also ‘voting on how the Senate is going to spend the rest of this year, are we just going to do rescission after rescission, because we know Russ Vought is just itching to send us more.’

Sen. Eric Schmitt, R-Mo., rebuked Democrats’ assertions against the bill, and pitched the legislation as a way for lawmakers to ‘course-correct’ wasteful spending that shouldn’t have ever been green-lit.

He told Fox News Digital that what Democrats want to do is ‘keep as much of this money for their woke pet projects as they can.’ 

‘They were able to do that for four years,’ he said. ‘That’s how you got to, you know, DEIs in Burma and Guatemalan sex changes and voter ID in Haiti, which is ironic, because Democrats don’t support voter ID here, but they’re willing to pay it for it in another country.’

Fox News Digital’s Bradford Betz contributed to this report. 

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Rich Checkan, president and COO of Asset Strategies International, sees plenty of room for gold and silver prices to run, and he encouraged investors to consider the different ways the precious metals can provide portfolio support.

In his view, gold is key for wealth insurance, while silver offers profit potential.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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Dr. Nomi Prins of Prinsights Global discusses the real asset uprising and how to invest.

‘The uprising actually means that real assets don’t have value just for what they are in terms of price — they have value for their positioning in the geopolitical power battle,’ she explained.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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Andy Schectman, president of Miles Franklin, lays out his takeaways from the latest BRICS meeting, saying he sees a reset happening now.

He also weighs in on the implications for gold and explains why he sees massive potential in silver.

‘The word that I think of is asymmetrical — low downside, high upside,’ he said.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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Governments and militaries around the world are beefing up their defense budgets as geopolitical and trade tensions mount. Unsurprisingly, aerospace and defense stocks are looking more attractive to investors. 

The aerospace and defense industry comprises covers a large array of products, including aircraft, autonomous vehicles, marine vessels, satellites, electronic systems, software, missiles, drones and tanks.

Global defense spending increased by 9.4 percent in 2024 to US$2.72 trillion, led by the United States, China, Russia, Germany and India.

For its part, Canada spent US$29.3 billion on defense in 2024, making it the 15th highest spender globally. The country has yet to meet NATO member country spending targets of 2 percent of gross domestic product (GDP), coming in at 1.37 percent last year. However, this is expected to change in 2025.

In June, the Canadian government announced plans to invest an additional C$9 billion in the Canadian Armed Forces for the 2025/2026 fiscal year. The funds will go towards a wide array of improvements, including new aircraft, armed vehicles and drones.

“In an increasingly dangerous and divided world, Canada must assert its sovereignty,’ Prime Minister Mark Carney stated. ‘We will rapidly procure new equipment and technology, build our defence industrial capacity, and meet our NATO defence commitment this year. Canada will seize this opportunity with urgency and determination.”

Top 5 Canadian Defense Stocks

Canada’s aerospace and defense industry plays a large role both domestically and through exports. The Canadian Armed Forces prioritizes domestic equipment and services procurement, with 55 percent of expenditures made to Canadian suppliers in 2022.

The Canadian defense sector has historically outperformed the broader manufacturing sector in terms of industrial growth, according to a Government of Canada report.

Exports represent a significant portion of revenues for land and marine military goods and services. GlobalData reports that naval vessels and surface combatants, military fixed-wing aircrafts and military satellites are currently the most attractive segments of the country’s defense market.

1. CAE (TSX:CAE)

Market cap: C$12.33 billion

Established in 1947, CAE manufactures simulation technologies and digitally immersive training services for the aerospace, defense and healthcare industries. The company’s defense and security business unit provides training and mission support solutions for air, land, maritime, space and cybersecurity operations.

The company has regional defense and security training facilities in many countries and regions globally, namely the US, Canada, the United Kingdom, Europe, the Indo-Pacific and the Middle East. CAE’s annual revenue for its 2025 fiscal year ending March 31, 2025, was C$4.71 billion, up 10 percent year-over-year.

2. Bombardier (TSX:BBD.B)

Market cap: C$11.57 billion

A global leader in aviation, Bombardier is headquartered in Québec, Canada, and operates aerostructure, assembly and completion facilities in Canada, the US and Mexico. Although best known for its business jets, the company has also earned the distinction of being a trusted designer and manufacturer of military special-mission aircraft under its Bombardier Defense unit.

Bombardier Defense has a multi-year US$465 million contract to sell its Global 6000 jets to the US Air Force under the Battlefield Airborne Communications Node program, which began in 2021 and extends through 2026. Under the contract, Bombardier is selling modified Global aircrafts to the US Air Force. These aircrafts are specialized communications platforms that help bridge voice and data between forces on the ground and in the air.

Bombardier reported US$8.7 billion in revenue for 2024, up 8 percent year-over-year.

3. MDA Space (TSX:MDA)

Market cap: C$4.25 billion

MDA calls itself “an international space mission partner and a robotics, satellite systems and geointelligence pioneer.” The company is responsible for Canada’s first military satellite, Sapphire, which is designed to monitor Earth’s orbit and surveil outer space for man-made space debris and other satellites. Classified as a Space Situational Awareness small-satellite system, Sapphire was created for Canada’s Department of National Defence. MDA also provides satellite capabilities to the Department of National Defence’s Polar Epsilon satellite ground stations.

MDA reported strong top-line growth in 2024, with revenues of C$1.08 billion, up 34 percent year-over-year. The company expects 2025 full year revenues to be between C$1.5 billion and C$1.65 billion.

4. Magellan Aerospace (TSX:MAL)

Market cap: C$1.06 billion

Magellan Aerospace designs, manufacturers and services aeroengine and aerostructure assemblies and components for the global aerospace market, as well as proprietary products for the military and space submarkets.

In April of this year, the company signed an amendment to an important long-term revenue sharing agreement with GE Aerospace (NYSE:GE). The amendment includes the production of major components for the F414-GE-400K aircraft engine over a seven-year period for the Korean KF-21 fighter aircraft program for South Korea’s national arms procurement agency.

Magellan’s total revenue for 2024 came in at C$942.37 million, up 7.1 percent over the previous year.

5. Kraken Robotics (TSXV:PNG)

Market cap: C$767.92 million

Marine technology company Kraken Robotics provides advanced subsea sonar and laser systems, as well as batteries and robotics systems for unmanned underwater vehicles used in the military and commercially. According to Kraken, it is best known for its high-resolution 3D acoustic imaging solutions and services.

In February of this year, Kraken announced plans to open a new battery production facility in Nova Scotia, stating it aims to meet increasing demand for uncrewed underwater vehicles from the defense sector.

Kraken’s consolidated revenue for 2024 reached C$91.3 million, up 31 percent year-over-year. The company’s guidance for 2025 revenue is C$120 million to C$135 million.

Top Canadian Defense ETFs

Exchange-traded funds (ETFs) are marketable securities that track an index, a commodity, bonds or a basket of assets like an index fund. Investors can diversify their portfolio and lower the risk of investing in individual stocks with defense ETFs.

ETF Portfolio Blueprint has identified two Canadian Defense ETFs worthy of investor attention. All data was current as of June 30, 2025.

1. iShares U.S. Aerospace & Defense Index ETF (TSX:XAD)

Assets under management: C$50.57 million

iShares U.S. Aerospace & Defense ETF launched in September 2023, and has an expense ratio of 0.44 percent. This fund replicates the iShares U.S. Aerospace & Defense ETF (BATS:ITA) and tracks the Dow Jones US Select Aerospace & Defense Index.

These defense stocks are typically stable companies in the sector whose revenues are mainly tied to long-term government contracts. Top holdings include RTX (NYSE:RTX), The Boeing Company (NYSE:BA), Lockheed Martin (NYSE:LMT), General Dynamics (NYSE:GD) and L3Harris Technologies (NYSE:LHX).

2. Global X Defence Tech Index ETF (TSX:SHLD)

Assets under management: C$28.88 million

Launched in April 2025, the Global X Defense Tech Index ETF is the Canadian version of the Global X Defense Tech ETF (NYSEARCA:SHLD). Like its US equivalent, the ETF tracks the proprietary Global X Defense Tech Index, meaning this ETF differs from XAD by offering exposure to a mix of US and global defense stocks. As it is a brand new ETF, an expense ratio has not yet been calculated, but it has a management fee of 0.49 percent.

Its only holding is the US Global X Defense Tech ETF, which includes some of the biggest defense stocks such as Lockheed Martin and General Dynamics, and is also heavily weighted in Palantir Technologies (NASDAQ:PLTR) and L3Harris Technologies.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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