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Friday, October 10, 2025

Obese Democrat Governor Criticizes Hegseth For Doing Push Ups

 by Steve Watson via Modernity.news,

Rotund Democrat Governor of Illinois, JB Pritzker, made a bizarre decision to criticise someone else for being fit and healthy, and it did not go well for him.

Pritzker, who looks like he hasn’t done any physical exercise for a decade or more, felt it prudent to verbally attack Secretary of War Pete Hegseth for daring to take part in a Guinness book of world records push up event.

Perhaps Pritzker should put down the grab bag of Cheetos and have a good long think about what he just said.

He gave Hegseth had an absolute softball lay up, but it seems the SecWar chose to take the high ground and respond with some restraint.

Yeah, that could’ve been a LOT more scathing.

Others went there.

Pritzker has been calling Trump a Nazi fascist every day while demanding that anyone calling Democrats fascists is dangerous.

He’s also been spreading BlueAnon conspiracy theories about military dictatorship takeovers and election cancellations.

Let’s enjoy more of these…

But the undisputed winner is the person who made this video

https://www.zerohedge.com/political/obese-democrat-governor-criticizes-hegseth-doing-push-ups

Institutions Plan To Double Crypto Exposure By 2028, State Street Research Finds

 by Micah Zimmerman via BitcoinMagazine.com,

Institutional adoption of digital assets — like bitcoin — is booming, with average portfolio exposure expected to double from 7% to 16% within three years, according to new research from State Street. 

State Street’s study touched on how tokenization and blockchain technology are moving from experimentation to execution across global investment portfolios.

The study surveyed senior executives across asset management, trying to decipher how institutions are integrating digital assets, tokenization, and emerging technologies like AI and quantum computing into their strategies. 

Nearly 60% of respondents plan to increase digital asset allocations over the next year, while most expect exposure to double by 2028.

“Institutional investors are moving beyond experimentation — digital assets are now a strategic lever for growth, efficiency, and innovation,” said Joerg Ambrosius, president of Investment Services at State Street.

Tokenization is leading the shift

The first wave of tokenization is expected to occur in private equity and private fixed income, areas that have historically been illiquid and opaque. 

By 2030, more than half of institutions expect between 10% and 24% of total investments to be executed through tokenized instruments, the survey found. 

Tokenization — the process of issuing blockchain-based representations of real-world assets — allows fractional ownership, faster settlement, and improved transparency. 

State Street’s research shows that 52% of respondents see tokenization transparency as the top benefit, followed by faster trading (39%) and lower compliance costs (32%). 

Nearly half believe these efficiencies could translate into cost savings exceeding 40%.

Dedicated crypto teams are emerging

As adoption deepens, digital assets are being embedded into business operations. 

Four in ten institutions now have dedicated digital asset units, and nearly one-third have integrated blockchain operations into their overall digital transformation strategy. Another 20% said they plan to follow suit.

Donna Milrod, State Street’s chief product officer, said clients are “rewiring their operating models around digital assets,” pointing to projects spanning tokenized bonds, equities, stablecoins, and central bank digital currencies.

Crypto still drives returns

Despite growing institutional attention to tokenized assets, crypto remains the primary driver of digital asset returns. 

About 27% of respondents said Bitcoin currently generates the highest returns in their digital portfolios, with 25% expecting it to remain a top performer over the next three years. 

Stablecoins and tokenized real-world assets account for the largest portion of institutional digital holdings, but traditional cryptocurrencies continue to dominate the profit picture.

State Street warned that while digital assets are becoming mainstream, institutions are cautious about the pace of change. 

Only 1% of respondents believe most investments will be made through tokenized assets by 2030, but the majority expect steady progress as infrastructure and regulation mature.

“Institutional confidence in digital assets is no longer theoretical,” Ambrosius said. “It’s operational.”

https://www.zerohedge.com/crypto/institutions-plan-double-crypto-exposure-2028-state-street-research-finds

Stocks Tank, Bonds Bid As Trump Threatens "Massive Increase" In Tariffs On Chinese Goods

 US equity markets are tumbling following comments from President Trump threatening “a massive increase of tariffs on Chinese products” being imported into the US, accusing China of becoming “hostile” due to their export controls

Additionally, Trump said he saw “no reason” to meet Chinese President Xi Jinping

This immediately prompted a wave of selling pressure across all equity indices...

Treasuries are bid...

Trump took to social media and penned a lengthy, angry note (emphasis ours):

Some very strange things are happening in China! They are becoming very hostile, and sending letters to Countries throughout the World, that they want to impose Export Controls on each and every element of production having to do with Rare Earths, and virtually anything else they can think of, even if it’s not manufactured in China. Nobody has ever seen anything like this but, essentially, it would “clog” the Markets, and make life difficult for virtually every Country in the World, especially for China.

We have been contacted by other Countries who are extremely angry at this great Trade hostility, which came out of nowhere. Our relationship with China over the past six months has been a very good one, thereby making this move on Trade an even more surprising one. I have always felt that they’ve been lying in wait, and now, as usual, I have been proven right!

There is no way that China should be allowed to hold the World “captive,” but that seems to have been their plan for quite some time, starting with the “Magnets” and, other Elements that they have quietly amassed into somewhat of a Monopoly position, a rather sinister and hostile move, to say the least.

But the U.S. has Monopoly positions also, much stronger and more far reaching than China’s. I have just not chosen to use them, there was never a reason for me to do so — UNTIL NOW! The letter they sent is many pages long, and details, with great specificity, each and every Element that they want to withhold from other Nations. Things that were routine are no longer routine at all.

I have not spoken to President Xi because there was no reason to do so. This was a real surprise, not only to me, but to all the Leaders of the Free World.

I was to meet President Xi in two weeks, at APEC, in South Korea, but now there seems to be no reason to do so.

The Chinese letters were especially inappropriate in that this was the Day that, after three thousand years of bedlam and fighting, there is PEACE IN THE MIDDLE EAST. I wonder if that timing was coincidental? Dependent on what China says about the hostile “order” that they have just put out, I will be forced, as President of the United States of America, to financially counter their move. For every Element that they have been able to monopolize, we have two. I never thought it would come to this but perhaps, as with all things, the time has come.

Ultimately, though potentially painful, it will be a very good thing, in the end, for the U.S.A.

One of the Policies that we are calculating at this moment is a massive increase of Tariffs on Chinese products coming into the United States of America. There are many other countermeasures that are, likewise, under serious consideration. Thank you for your attention to this matter!

Trump's comments come after China slapped new port fees on US ships and started an antitrust investigation into Qualcomm, following fresh moves to restrict the flow of rare earths needed for numerous consumer products.

And just like that, tariff fears are back on the table and risk is off.

https://www.zerohedge.com/markets/stocks-tank-trump-threatens-massive-increase-tariffs-chinese-goods

https://seekingalpha.com/news/4503259-cvs-health-clover-update-medicare-star-ratings

Bristol Myers Squibb to buy Orbital Therapeutics for $1.5B in cash

 Bristol Myers Squibb (NYSE:BMY) has agreed to acquire privately held biotechnology company Orbital Therapeutics for $1.5 billion in cash.

Orbital Therapeutics is advancing a new generation of RNA medicines designed to reprogram cells in vivo, treating diseases at their source. Its lead RNA immunotherapy preclinical candidate, OTX-201, targets autoimmune disease through B cell depletion to reset the immune system.

In addition to OTX-201, the deal covers Orbital’s proprietary RNA platform, which integrates circular and linear RNA engineering, advanced lipid nanoparticles delivery, and AI-driven design to enable durable, programmable RNA therapies tailored to the distinct biology of a broad spectrum of diseases.

The deal strengthens Bristol Myers Squibb’s cell therapy portfolio. “With the acquisition of Orbital Therapeutics and its next-generation RNA platform, we have an incredible opportunity to make CAR T-cell therapy more efficient and accessible to more patients,” said Lynelle B. Hoch, president, Cell Therapy Organization, Bristol Myers Squibb.

https://www.msn.com/en-us/money/markets/bristol-myers-squibb-to-buy-orbital-therapeutics-for-1-5b-in-cash/ar-AA1Odf9m

Macron Poised To Name New French PM - Polymarket Odds Favor Bernard Cazeneuve As Front-Runner

 After a week of political chaos and a rollercoaster ride in French stocks, French President Emmanuel Macron is expected to appoint a new prime minister on Friday in a last-ditch effort to end more than a year of political paralysis and economic turmoil, marked by surging debt, rising poverty, and deeply divided parliament - all of which have pushed his second term to the brink of collapse.

To start the week, outgoing Prime Minister Sébastien Lecornu abruptly resigned on Monday, shortly after unveiling a new Cabinet, fueling a political crisis and turmoil in regional markets. The move triggered a surge in calls for Macron's resignation or new elections. In response to save face, Macron has vowed to name a successor by the end of today. 

According to AFP News sources, Macron is expected to meet with leaders from the right-leaning National Rally (RN) and the radical left France Unbowed party at the presidential palace. Those sources confirmed that Macron will announce a new prime minister by evening. 

Neither Macron nor Lecornu has offered any color or clues over who is in the running to be the next premier. 

However, cryptocurrency-based prediction market Polymarket has socialist prime minister Bernard Cazeneuve at 30% odds, with Jean-Louis Borloo at 22.9%, and Pierre Moscovici at 13.3%. 

Macron faces a massive fork in the road: appoint either a leftist or a technocratic leader to break the impasse of a deeply divided parliament. Either option will require compromises to avoid a no-confidence vote and could force the abandonment of Macron's unpopular pension reform. 

Macron's 2024 snap election bet ultimately failed and produced a hung parliament and shattered his centrist bloc's dominance. Repeated government collapses, along with failed budget negotiations and internal rivalries, have left France's political system gridlocked and its economy in turmoil.

France's public debt has surged to 114% of GDP, while poverty reached 15.4% in 2023, marking the highest rate since records began - all suggest Macron is a horrible globalist leader. The European Commission and ratings agencies warned Paris to dial back spending and align with EU debt rules... 

In markets, the CAC 40, the benchmark French stock market index, initially dropped 2% on the political turmoil earlier this week but has since clawed back those losses. 

Marine Le Pen, a prominent figure on the nationalist right and a three-time presidential contender, said earlier this week that she would thwart all action by any new government and would "vote against everything." 

Headline from FT...

We'll end the note with commentary from UBS analyst Simon Penn, who has been covering developments out of France all week.

Penn told clients earlier that political and economic turbulence facing France and the UK this year echoes Britain's 1970s struggles, an era defined by populist backlash, failed reform attempts... 

In the 1970s, Britain went through a period of political turmoil and industrial unrest. The economic policies the government attempted to implement at the beginning of the decade were rejected by voters. It took almost a decade for the country to realise "there was no alternative". Today, both the French and British governments find themselves in circumstances where voters are rejecting their ideas and are instead being lured by populist policies that appear to have all the gain with none of the pain.

This is about political sequencing rather than direct economic parallels. The economies and markets of 2025 are very different from those of fifty or so years ago. But voter demands and political responses are similar. In 1979, new British Conservative Prime Minister Margaret Thatcher stood for election on a series of economic policies that were very similar to those proposed by the previous Conservative PM Edward Health in 1970. In between, the UK endured general strikes, a three-day week and an IMF bailout.

A very senior minister in that first Thatcher government once said that many of the economic policies introduced by Thatcher weren't actually original, mostly they were inspired by those of Heath nine years earlier. His point was that the country hadn't been ready for those policies earlier in the decade and needed to learn what the alternative route looked like before being willing to accept them.

What unites the 1970s UK to the UK of today, and also current French and British politics, is a statement and a question. In the wake of the Global Financial Crisis, then Luxembourg PM Jean-Claude Juncker said "We all know what to do, but we don't know how to get re-elected once we have done it." In 1974, having faced a backlash from voters, PM Heath asked the UK in the run up to a general election "Who governs Britain?" – the answer being a choice between government (his) or the unions (the allies of his Labour opponents).  He lost and the country opted for a new Labour government. Margret Thatcher essentially asked the same question in 1979, and won. Applying Juncker's phrase to that period in the 1970s, to get elected afterwards voters have to experience the alternative for themselves.

President Macron is facing Juncker's statement and grappling with the decision as to whether to ask the country, as Heath did, and risk the consequences of the answer. What Macron needs his government to find is a policy route out of a near 114% debt/GDP ratio (on course for 125% in five years time); and a projected 5.4% of GDP budget deficit this year. The budget plans of his last three PM's have all been similar:  departmental spending cuts, higher taxes, pension reform; and recently a proposal to abolish two public holidays.

Heath favoured free markets. He wanted to curb the power of the unions and end prior policies of state intervention in failing businesses and industries.  During his first two years, from 1970 to 1972 he struggled to achieve his policy objectives and in 1972 he performed a U-turn. His Chancellor Anthony Barber cut taxes, increased spending and recommitted to assisting failing industry.  By late 1973 Heath had been unable to appease the unions and in the midst of general strikes, the power workers walked out. The problems were exacerbated by the 1973 OPEC oil crisis and Heath ordered the country into a three-day week in an effort to reduce energy usage. In February 1974 he called an election, lost swathes of seats, failed to create a governing coalition, and eventually handed the administration over to a minority Labour government. Initially Labour were able to make some compromises with the unions, but as time passed the unions pushed their demands further and further. By the late 1970s the country was again on strike and had been forced to apply to the IMF for financial assistance.

What's interesting looking back at the UK towards the end of the 1970s was that two Labour governments, run by prime ministers that were sympathetic to unions, were unable to work with them. To overlay a present day term on the politics of 50 years ago, the public came to see that that the extreme demands of "populists" could not be satisfied.

The Conservative campaign of 1979 borrowed very heavily from Heath's manifesto of a decade earlier. It sought to curb union power, reduce taxes, reduce government borrowing, encourage free-markets and also self-reliance. Margret Thatcher had many other ideas and also employed aggressive marketing, but at the heart of her manifesto were the same policies Heath had attempted to deliver.

France and the UK face familiar political pressures then. For Macron the circumstances might be more acute than for Starmer, but even in the UK there is plenty of talk as to how he could be ousted and who could take over. A pivot by either Macron or Starmer, to either swing policy to placate voters with "easy" policy or in the case of France roll the dice with an election, could go very wrong.

What the IMF was to the UK in 1976, could become the ECB to France if voters reject Macron and the policies that are needed. The UK's next election isn't due until 2028, but the circumstances look similar. The unfortunate lesson from the UK in the 1970s is that the required policies are right there. It's just a question of time and pain until they are accepted.

https://www.zerohedge.com/political/macron-poised-name-new-french-pm-polymarket-odds-favor-bernard-cazeneuve-front-runner

 

Majority Of Brits From All Political Leanings Agree The Country Is F**ked

 by Steve Watson via Modernity.news,

A massive three quarters of British people agree the country is “broken” according to a major new poll.

The survey for the i newspaper by pollster JL Partners reveals that “Britain today is broken” is a statement that garners overwhelming support in the country.

A majority voters of every political party, age group, and region agree with the sentiment.

An overall total of 74 percent of British people, when told they “must choose” an answer, agreed with the statement. 

While voters of outsider parties were more inclined to agree, the poll found that even those who support the establishment parties think Britain is fucked.

Among leftist Labour Party voters in the 2024 election, 59 percent believe the country is broken. Similarly, 66 percent of Liberal Democrat voters and 76 percent of Conservative voters, despite their parties’ traditional support for the status quo, also view Britain as broken.

While likely for very different reasons to 91 percent of Reform supporters, extreme leftist supporters of the Green Party, 87 percent of them to be precise, also believe the notion to be accurate.

Among young people, a majority of 56 percent see the country as damaged.

The poll’s findings highlight a rare consensus across ideological divides. The widespread perception of a fractured nation, shared across political affiliations, age groups, and regions, serves as a scathing rebuke to Prime Minister Keir Starmer’s leadership.

The fact that even 59 percent of Labour’s own 2024 voters agree Britain is broken highlights a rapid disillusionment, suggesting Starmer’s administration is perceived not as a fresh start but as a continuation of systemic failures, alienating the very base that propelled him to power.

The migrant crisis—characterized by record illegal Channel crossings and strained public services—has fueled public frustration, with many viewing the government’s response as wholly inadequate or mismanaged.

The proposed Digital ID system, touted as a solution to illegal immigration, has instead sparked fierce backlash, perceived as a technocratic overreach that threatens individual liberties.

It represents a further erosion of rights, compounding public discontent with Starmer’s inability to address the root causes of immigration concerns while appearing to prioritize control over personal freedoms.

This pervasive sense of a “broken” Britain is further aggravated by growing concerns over attacks on freedom of speech, which have intensified under Starmer’s government, which faces accusations of authoritarian tendencies through aggressive policing of online dissent and proposed regulations that stifle criticism of policies like immigration handling.

Policies and actions perceived as criminalising certain forms of expression have alienated a broad spectrum of the population.

Against this backdrop, Starmer’s premiership appears increasingly out of touch, failing to bridge the gap between public sentiment and policy outcomes. The Digital ID initiative, rather than restoring trust, has deepened skepticism, casting Starmer’s government as emblematic of a disconnected elite unable to address the nation’s fractured state.

Instead of addressing these concerns, Starmer has gone down the road of attacking his biggest threat, Nigel Farage as “negative,” as if somehow the problems he continually raises are not real or not as bad as he makes out.

During the Labour Party conference recently, Starmer even suggested those who acknowledge that Britain has big problems want the country to fail.

“They all do,” Starmer said, adding “They want to turn this country, this proud, self-reliant country, into a competition of victims. Saying to you, to working people, don’t trust in each other, we can’t fix this, this is not a great country.”

He added, “decline is good for their business. I mean, think about it. When was the last time that you heard Nigel Farage say anything positive about Britain’s future? He can’t. He doesn’t like Britain, doesn’t believe in Britain, wants you to doubt it just as much as he does. So he resorts to grievance.”

Thus Starmer is directly targeting those pointing out the country has been decimated by years of government neglect and attacks on British culture, and the very people expressing a desire for change in order to turn it around.

https://www.zerohedge.com/geopolitical/majority-brits-all-political-leanings-agree-country-fked

Thursday, October 9, 2025

Nurix Q3 report, program updates

Nurix Therapeutics (Nasdaq: NRIX) reported Q3 2025 results and program updates on Oct 9, 2025. The company plans to initiate pivotal studies for bexobrutideg in relapsed/refractory CLL in H2/Q4 2025, including a single‑arm path for potential accelerated approval and a randomized Phase 3 confirmatory trial. Encore Phase 1 data showed ORR 80.9% in CLL and ORR 84.2% in WM. Preclinical data for IRAK4 degrader GS-6791 were presented. Cash and marketable securities were $428.8M as of Aug 31, 2025.

US military to oversee initial Gaza peacekeeping force — but ‘no US troops intended to go into Gaza’

 The US military’s Central Command (CENTCOM) will oversee the initial stages of the International Stabilization Force (ISF) deployment into the Gaza Strip — with three or four other nations expected to contribute troops.

CENTCOM’s commander, Navy Adm. Brad Cooper, will “initially have 200 people on the ground” — though no American forces will go into Gaza, US officials told reporters on a White House-organized call.

The American military role was described as coordinating troops provided by Egypt, Qatar and Turkey — and managing deconfliction with the Israelis.

The US said no American troops would be on the ground.AP

“[Cooper’s] role will be to oversee, observe, make sure there are no violations or incursions — everybody is worried about the other side. So much of this is going to be oversight,” one US official said.

“Embedded in his team of 200 people will be probably a bunch of people from the Egyptian armed forces who will help, the Qatari armed forces who will help, as well as the Turks and probably the Emiratis,” the official said.

A map of the Gaza “buffer zone where the IDF will fall back once cease-fire requirements are met.NY Post Design

“The notion is to make it collegial.”

A second official emphasized that “no US troops are intended to go into Gaza.”

The first official said that CENTCOM’s main job will be setting up a “command room” to police the early phase of the just-adopted cease-fire between Israel and Hamas, which is expected to be followed by the release of roughly 20 living Israeli hostages on Monday.

Palestinians celebrate in Nusairat Camp on October 9, 2025, following the news of a new Gaza ceasefire deal being ratified.ZUMAPRESS.com

“The responsibility will be to keep the Israelis informed of what they’re seeing, to keep the Egyptians, the Qataris and the Turks informed about what they’re seeing, to come up with better security plans,” the first official said.

Cooper attended talks that led to Wednesday’s diplomatic breakthrough involving a cease-fire and hostage release agreement.

“We’re already talking to multiple governments about standing up that ISF force. I think with Admiral Cooper, it’s going to become a lot easier,” the first official said.

“He walked into the room at the first meeting and literally said, ‘I can have a command room up and running in two weeks,’” the official said, adding that “we’re going to be working [Friday] to try to figure out the exact location” of the CENTCOM-run command room.

People celebrate holding Israeli flags after President Donald Trump announced that Israel and Hamas agreed on the first phase of a Gaza ceasefire, at the “Hostages square”, in Tel Aviv, Israel, October 9, 2025.REUTERS

It’s unclear how large the peacekeeping force will become.

White House press secretary Karoline Leavitt tweeted Thursday night: “To be clear: up to 200 U.S. personnel, who are already stationed at CENTCOM, will be tasked with monitoring the peace agreement in Israel, and they will work with other international forces on the ground.”

President Trump’s 20-point peace plan, adopted in principle by both parties in the conflict, said that a multinational force would police Gaza as Hamas relinquishes power.

The document says that “the United States will work with Arab and international partners to develop a temporary International Stabilization Force (ISF) to immediately deploy in Gaza. The ISF will train and provide support to vetted Palestinian police forces in Gaza, and will consult with Jordan and Egypt who have extensive experience in this field.”

The 20-point plan says, “This force will be the long-term internal security solution. The ISF will work with Israel and Egypt to help secure border areas, along with newly trained Palestinian police forces.”

Trump himself deflected questions on the likely composition of the force, saying Thursday afternoon in the Oval Office that it was “to be determined.”

https://nypost.com/2025/10/09/us-news/american-military-to-oversee-initial-gaza-peacekeeping-force-but-no-us-troops-are-intended-to-go-into-gaza/