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Romania’s foreign minister said he had not come under pressure from US President Donald Trump’s envoy to lift restrictions on social media influencer Andrew Tate, who faces human trafficking charges, despite them discussing the case.

The Financial Times reported on Monday, citing sources, that US officials had brought up the case of Tate and his brother Tristan, both former kickboxers with dual US and British citizenship, in a phone call to the Romanian government.

It said Trump’s special envoy Richard Grenell followed up with Foreign Minister Emil Hurezeanu at the Munich Security Conference. A source told the FT a request was made to return the brothers’ passports and allow them to travel while they wait for court proceedings to conclude.

The brothers are banned from leaving Romania pending a criminal investigation on accusations of forming an organized criminal group, human trafficking, trafficking of minors, sexual intercourse with a minor and money laundering. They have denied all wrongdoing.

Tate, the highest profile suspect facing trial for human trafficking in Romania, was banned from almost all social media platforms before Trump’s now adviser Elon Musk took over X and reinstated his account.

Hurezeanu told Euronews late on Tuesday he had had an informal chat with Grenell in a hallway during the Munich conference. Hurezeanu cited Grenell as saying he remained interested in the fate of the Tate brothers.

“I did not perceive this statement as pressure, just a repeat of a known stance,” Hurezeanu said.

“I don’t know what pressures of another nature were made before or after but what I discussed with Mr. Grenell was cordial, informal, brief, non-binding and I certainly did not detect any form of pressure.”

A first criminal case against Tate and his brother failed in December when a Bucharest court decided not to start the trial, citing flaws in the indictment.

A Romanian court lifted a house arrest order against Tate in January, replacing it with a lighter preventative measure. In October, a court ruled he should get back luxury cars worth about 4 million euros ($4.43 million) that were seized by prosecutors, pending the investigations.

In Munich last week US Vice President JD Vance took a swipe at European governments for what he described as their censorship of free speech and their political opponents and specifically mentioned the cancellation of Romania’s presidential election based on what he said was flimsy evidence.

Romania’s top court ordered a rerun of the vote following suspicion of Russian interference in favor of the unexpected first round winner, the pro-Russian far-right Calin Georgescu. Russia denied any interference in Romania’s election campaigns.

This post appeared first on cnn.com

Medicaid is quickly emerging as a political lightning rod as House Republicans negotiate on a massive bill to advance President Donald Trump’s agenda.

Some Republican lawmakers are worried about the level of spending cuts being sought by fiscal hawks to offset the cost of Trump’s policies, arguing the current deal could force potentially unworkable cuts on Medicaid and other federal safety net programs.

‘I’m concerned that $880 billion out of [the House Energy & Commerce Committee] is likely very steep cuts to Medicaid – and it’s the very thing President Trump asked us not to do,’ Rep. Don Bacon, R-Neb., told Fox News Digital on Tuesday.

GOP lawmakers are working to pass a broad swath of Trump policies – from investments in defense and border security to extending his 2017 tax cuts and eliminating taxes on tips – via the budget reconciliation process. The mechanism allows the party in control of both houses of Congress to pass a tax and budget bill without help from the opposing party.

But conservative spending hawks are looking for deep cuts in federal dollars to offset money going toward Trump’s priorities. The current resolution advancing through the House would aim to cut government spending by at least $1.5 trillion, while allocating $4.5 trillion toward Trump’s tax cuts.

An amendment added after conservatives balked at that deal would cut funding going toward Trump’s tax cuts by $500 billion if at least $2 trillion total spending cuts were not reached. 

Even before the additional cuts, however, some Republicans like Bacon are concerned that the $880 billion that the Energy & Commerce Committee is tasked with cutting will negatively impact their constituents.

Conservatives have pushed back, arguing that significant cuts could be found in Medicaid work requirements. But skeptics of that argument say that the level of spending cuts being sought go past what work requirements can cover.

‘We want to ensure that it’s not going to hurt… our hospitals, or our organizations that serve the developmentally disabled, and we’re asking for clarity on where the $880 billion in savings come from,’ Rep. Nicole Malliotakis, R-N.Y., the only House Republican representing part of New York City, told Fox News Digital.

She did agree with GOP rebels that there was ‘mismanagement’ and waste to root out in those programs.

Malliotakis and other Republicans on the Ways & Means Committee tasked with writing tax policy are also uneasy about the new amendment that could cut funds allocated to their panel.

‘I don’t think that is doable without affecting beneficiaries, and I’ve expressed that concern to leadership and in talking to some of my colleagues,’ Malliotakis said.

Another House Republican who declined to be named told Fox News Digital that ‘there’s a bunch of us’ who think the proposed cuts ‘are too big.’

‘They’re trying to sell us $1.5 trillion, but in reality, there’s another $500 billion attached to it that they’re trying to cut. And it’s not going to pass,’ the GOP lawmaker said.

Meanwhile, Rep. Rob Bresnahan, R-Pa., who unseated a Democrat in a close race last year, wrote on X over the weekend, ‘I ran for Congress under a promise of always doing what is best for the people of Northeastern Pennsylvania. If a bill is put in front of me that guts the benefits my neighbors rely on, I will not vote for it.’

The budget reconciliation process allows legislation to advance with only GOP votes by lowering the threshold for Senate passage from two-thirds to a simple 51-seat majority. The House already operates on a simple majority.

But currently, Republicans can lose just one vote in the House to pass anything on party lines – meaning they can afford almost no dissent to get their reconciliation bill over the line.

Rep. Ralph Norman, R-S.C., a conservative on the House Budget Committee who would not have supported the resolution last week without the last-minute amendment, told reporters last week, ‘Medicaid’s got to be in it. You don’t get to the [$1.5 trillion figure], much less two, without it.’

‘And it’s not cuts to Medicaid. Work requirements have an $800 billion savings on it… able-bodied 40-year-old men who can work don’t need to be on Medicaid,’ Norman said.

Democrats are waiting to pounce on the discord.

The House Majority PAC, which is aligned with House Democratic leadership, released a memo on Tuesday accusing Republicans of seeking to make ‘deep cuts’ to Medicaid ‘to fund $4.5 trillion in tax cuts to Elon Musk and other billionaires.’

‘In battleground congressional districts across the country, House Republicans are putting Medicaid on the chopping block – a move that would rip life-saving health care away from tens of thousands of their own constituents – roughly half of whom are children,’ the memo said.

But according to Ways & Means Republicans, the average American household could see taxes raised by over 20% if the Trump tax cuts expired.

This post appeared first on FOX NEWS

Nearly everyone agrees that the federal government has become this bloated monster that needs to be cut down to size.

The massive bureaucracy, attacked by some as evil, is absurdly overstaffed and wastes massive amounts of money.

What President Trump is doing in trying to shrink the size of government is popular – even if his billionaire budget-slasher, Elon Musk, is not – and many of the court battles are likely to be resolved in his favor.

But the equation is turned on its head when actual people feel the impact. And the media start highlighting sad cases of devastated folks. And Republican lawmakers start objecting to the cutbacks that hit home.

That’s why it’s so hard to cut the federal budget. It’s not like going into SpaceX and firing a bunch of software engineers. The political pressures can be intense.

Virtually every program in the federal budget is there because some group, at some time, convinced Congress it was a good idea. There are noble-sounding causes – cancer research, aid to veterans, subsidies for farmers.

In fact, farmers are threatened by the near-abolition of USAID – while most people hate foreign aid, food programs provide a crucial market for American farmers, many of whom are now stuck with spoiling surpluses or loans they can’t repay.

Now there’s plenty of game-playing that goes on with government programs. Let’s say, for the sake of argument, that agencies could cut one of every 10 employees without damaging their core functions. 

Anyone who’s looked at the endless cycle of conferences, conventions, training confabs, office renovations and the like knows how much fat there is in these budgets. When you throw in lucrative payments to well-connected contractors, that figure skyrockets.

But when agency officials come under fire, they immediately insist that any cutbacks will instantly hurt the poor and downtrodden, or working-class folks living paycheck to paycheck. It used to be called the Washington Monument defense, the notion that any attempt to reduce funding for the Interior Department would cause the memorial’s immediate shutdown.

NIH, for instance, does world-class research that benefits the country. But the battle between Musk’s DOGE and the institute centers on how much is spent on indirect costs.

Musk says his aim is ‘dropping the overhead charged on NIH grants from the outrageous 60 percent to a far more reasonable 15 percent.’

But an NBC story is headlined: ‘NIH Cuts Could Stall Medical Progress for Lifesaving Treatments, Experts Say.’

The piece quotes Theodore Iwashyna, a physician at the Johns Hopkins School of Medicine, as saying his ‘father had pancreatic cancer, and the care plan developed for him existed only because of research funded through organizations like the NIH.’

Iwashyna says the overhead is needed for ‘computers, whiteboards, microscopes, electricity, and janitors and staff who keep labs clean and organized.’

Alabama Sen. Katie Britt, whose state is getting $518 million in NIH grants, mainly to the University of Alabama at Birmingham, is raising objections. The conservative Republican told a reporter she wants the administration to take a ‘smart, targeted approach’ so as not to endanger ‘groundbreaking, lifesaving research.’

The examples are legion. Alaska Sen. Lisa Murkowski has asked the administration not to restrict funding for diversity programs among American Indian tribes.

As the New York Times puts it, ‘some Republicans’ have sought ‘carve outs and special consideration for agriculture programs, scientific research and more, even as they cheered on Mr. Trump’s overall approach.’

Musk’s DOGE team seems to be using a meat-ax method. Why lay off hundreds of FAA technicians and engineers just weeks after the fatal plane crash at Reagan National Airport, when there’s already a major shortage of air traffic controllers?

FEMA, which is already stretched thin after the Los Angeles wildfires and the Kentucky flooding, is preparing to fire hundreds of probationary workers, reports the Washington Post. Such workers, who have been with the government for one or two years, basically have no rights. 

But there has been zero effort to assess them. Some were told their performance was the issue, but showed the Post their evaluations. ‘Above fully successful,’ said one, for a fired GSA worker. ‘An outstanding year, consistently exceeding expectations,’ said the review for a fired NIH staffer.

But viewed from a different angle, the hometown paper and other outlets buy into the notion that federal employees should have tenure for life. Everyone in Washington knows that before Trump it was virtually impossible to fire such employees, even for cause. 

By contrast, Southwest Airlines just announced a 15% cut of its corporate workforce. No one is rushing to interview those laid off, because this sort of downsizing is routine in the private sector. But the Beltway ethos is that federal workers are entitled to their jobs.

Now intellectual honesty requires the observation that even radical cuts to the federal payroll won’t have much impact on the $840 billion budget deficit or the $36 trillion federal debt. The bulk of the budget consists of Social Security, Medicare, Medicaid, defense spending and interest on the debt.

Can Elon Musk and DOGE at least make progress on rooting out waste, fraud and abuse? Maybe. But the level of pain being inflicted on ordinary Americans, including in red states, and the natural tendency of politicians to shield local residents from that pain, and the media’s relentless spotlight on those suffering, are going to be a giant obstacle.

This post appeared first on FOX NEWS

In the 10th row of Delta Flight 4819, Pete Carlson rested in the window seat just before landing at Toronto Pearson International Airport on Monday afternoon, thinking about friends he would see at a paramedics conference where he was scheduled to speak.

John Nelson, another passenger in the 10th row of the CRJ900 twin-jet aircraft, remembered the flight and descent over Canada’s largest city as typical except for “super gusty” winds blowing snow over the runways.

The Delta flight, on a trip from Minneapolis, was cleared for Runway 23 under a westerly wind, with gusts up to 38 miles per hour. “Might be a slight bump in the glide path,” an air traffic controller said. “There will be an aircraft in front of you.”

“Clear to land, Endeavor 4819,” the pilot responded, referring to Delta’s Endeavor Air, the subsidiary which operated the regional jet arriving about 2:15 p.m local time Monday on the snow-covered runway. The wind sent snow swirling into the air, limiting visibility to five miles.

Then everything changed.

The jet came down hard and fast. Flames erupted around the rear landing gear, followed by a growing fire ball shrouded by a rising trail of black smoke, according to video from the scene. The right wing was sheared off as the plane rolled on its back along a tundra-like landscape.

In seconds, the lives of the 80 people on board would be upended – literally – with passengers hanging upside down, their seatbelts preventing them from crashing down. Jet fuel cascaded like rain over the windows. Somehow, all those on board survived, though 21 people were taken to hospitals with injuries.

‘We were upside down, hanging like bats’

Pete Koukov, another passenger, said he “didn’t know anything was the matter” until the hard landing.

He took video showing some passengers, still strapped to their seats, on the overturned jet.

Nelson called it “mass chaos.”

“I was upside down. The lady next to me was upside down,” he said. “We kind of let ourselves go and fell to hit the ceiling – which was a surreal feeling. And then everybody was just like, ‘Get out! Get out! Get out!’ We could smell like jet fuel.”

The two flight attendants had never landed a plane upside down, according to Sara Nelson, international president of the Association of Flight Attendants-CWA. But they had trained for many scenarios, including evacuating passengers within 90 seconds – which they did during Monday’s emergency.

“They were heroic,” Nelson said.

A mix of black smoke and powdery snow rose over the tarmac.

“Oh, no, no, no, no, no!” said a person who took a video of the crash, watching from another plane near the runway.

“Airplane just crashed (runway) 2-3,” a pilot on another flight can be heard saying on recordings of air traffic control transmissions, which also picked up audio of a medevac helicopter that was already in the area.

“We got it in sight,” the helicopter pilot said of the downed jet.

“LifeFlight 1, medevac, just so you are aware there are people outside walking around the aircraft there,” an air traffic controller said.

“Yeah, we’ve got it. The aircraft is upside down and burning,” the medevac pilot responded.

Outside the plane, passengers shot video and photos with cellphone cameras as firefighters tried to douse the flames.

Carlson remembered the powerful sound created by the crash of tens of thousands of pounds of metal against snow-covered concrete.

“The absolute initial feeling is, ‘Just need to get out of this,’” he told CBC.

He unfastened his seatbelt and crashed down onto the plane’s ceiling, now the floor. He didn’t sense panic or fear around him. Instead, Carlson said, everyone on the plane “suddenly became very close” – helping and consoling each other.

“What now?” he remembered thinking. “Who’s leading?”

Row by row, passengers and crew members checked on one another. They made sure people would not fall on others once their seatbelts were unfastened. As a father and a paramedic, Carlson said, he instinctively focused on getting a young boy and his mother who were sitting on the ceiling safely off the plane. The smell of fuel grew stronger.

“You can listen to the preflight all you want but when you’re suddenly upside down, rolled over, everything kind of goes out the door,” he told CBC. Hours after the flight, he still reeked of plane fuel. He wasn’t sure how he got a gash on his head.

‘It’s amazing that we’re still here’

Carlson stepped outside the plane. He recalled marveling at the “amazing” response of police officers, firefighters and paramedics on the scene.

It felt like he was “stepping out onto the tundra,” Carlson told CBC, as he and others helped passengers onto the snow-swept tarmac. The injured were taken away by bus. A triage area was set up at a safe distance from the plane.

“There was a wing there before and when we went out that exit, there was no wing to be found,” he recalled.

In fact, the wing breaking free likely kept the fire out of the passenger cabin, said Joe Jacobsen, an aerospace engineer who has worked for Boeing and the Federal Aviation Administration.

When a wing rips off entirely on impact, it ditches potentially explosive fuel, said Michael McCormick, an associate professor at Embry-Riddle Aeronautical University, noting that fuel used to be stored in the belly of the aircraft.

Other design factors came into play as well. Most modern commercial aircraft are required to have 16G seats – meaning they can withstand 16 times the force of gravity, McCormick said. The seats, designed for durability rather than comfort, are less likely to come apart in an accident.

Carlson was thankful to walk away from the crash.

“I didn’t care how cold it was,” Carlson told CBC. “I didn’t care how far I had to walk, how long I had to stand. All of us wanted to just be out of the aircraft.”

At one point, Carlson removed his coat and put it over the shoulders of the mother with the young son. He snapped a photo of the overturned plane with his phone, and sent a copy to a paramedic friend, who was at the airport to pick him up.

“I simply sent it, saying this is my reality right now,” he said. “Down on the tarmac but alive, which, again, is really amazing.”

The friend and colleague, Renfrew County, Ontario, Paramedic Chief Mike Nolan, saw a huge plume of black smoke rise from the center of the runway and immediately texted Carlson, the keynote speaker at the conference in Toronto this week.

In the end, Carlson said, it was “just people – no countries, nothing … together helping each other.”

Koukov said he felt lucky and happy. He gave a big hug to the person who had been sitting next to him on the flight – as he did when greeted by friends who picked him up at the airport.

Said Nelson, “It’s amazing that we’re still here.”

This post appeared first on cnn.com

DOGE’s Elon Musk opened up in an interview alongside President Trump with Fox News Sean Hannity about a dinner party where he said he realized how ‘real’ Democratic animosity toward Trump can be.

‘I happened to mention the president’s name and it was like they got shot with a dart in the jugular that contained like methamphetamine and rabies,’ Musk said in the Tuesday night interview while recounting a situation where he mentioned Trump’s name at a dinner party and quickly received pushback.

Musk imitated people at the party going crazy and questioned why they couldn’t have a normal conversation.

‘It’s like they’ve become completely irrational,’ Musk said, adding in the interview that he didn’t realize the severity of ‘Trump Derangement Syndrome’ was until he attended that dinner party.

During another point in the interview, Hannity asked if Musk would recuse himself from DOGE efforts if there was ever a conflict of interest.

‘If there’s a conflict he won’t be involved,’ Trump said. ‘I wouldn’t want that and he won’t want it.’

‘Right, and also I’m getting sort of a daily proctology exam,’ Musk added. ‘It’s not like I’ll be getting away for something in the dead of night.’

Musk and Trump sat down for a wide-ranging interview with Hannity where they discussed the Department of Government Efficiency’s (DOGE) work, the first 100 days of the Trump administration and more. It marks the duo’s first joint television interview.

‘He’s been so unfairly attacked,’ Musk said of Trump during the interview. ‘It’s really outrageous.’

‘I’ve spent a lot of time with the President, and not once have I seen him do anything mean or cruel or wrong.’

This post appeared first on FOX NEWS

A Chinese military helicopter flew within 10 feet (3 meters) of a Philippine patrol plane over the South China Sea on Tuesday, in what observers said was the second incident of potentially catastrophic behavior by the People’s Liberation Army against foreign aircraft in a week.

Tuesday’s incident was witnessed by an Associated Press reporter aboard the single-engine Cessna Caravan plane operated by the Philippine Bureau of Fisheries and Aquatic Resources as it patrolled near Scarborough Shoal, an uninhabited rock about 140 miles (222 kilometers) west of the main Philippine island of Luzon.

Scarborough Shoal, which sits amid rich fishing grounds, has been effectively controlled by China since 2012 despite its location inside the Philippines’ exclusive economic zone, according to the Asia Maritime Transparency Initiative.

The AP report said during the approximately 30-minute encounter, the pilot of the Philippine plane warned the Chinese helicopter, “You are flying too close, you are very dangerous and endangering the lives of our crew and passengers.”

The ambassador of the United States, a defense treaty ally of Manila, condemned the “dangerous” maneuvers of the Chinese helicopter.

In a post on X, Ambassador MaryKay Carlson also called on China “to refrain from coercive actions and settle its differences peacefully in accordance with international law.”

A statement from the PLA’s Southern Theater Command said the Chinese helicopter “expelled” the Philippine plane from “China’s territorial airspace,” while saying Manila “has seriously violated China’s sovereignty.”

Tuesday’s incident followed another last week over the South China Sea between an Australian military P-8 reconnaissance jet and PLA fighter planes, during which Australia said the Chinese jets fired flares within 100 feet (30 meters) of its aircraft.

If ingested into the P-8’s jet engines, the flares could have caused catastrophic damage, analysts said.

“They could have hit our P-8 and had that occurred it would have done significant damage to our aircraft and that obviously puts in danger the lives of our personnel,” Australian Deputy Prime Minister Richard Marles said on Friday.

Like the latter incident with the Philippines, the Chinese military said it expelled a foreign aircraft that was intruding into Chinese airspace, in this case over the Xisha Islands, also called the Paracel Islands.

Beijing claims “indisputable sovereignty” over almost all of the 1.3-million-square-mile South China Sea, and most of the islands and sandbars within it, including many features that are hundreds of miles from mainland China. As well as the Philippines, Malaysia, Vietnam, Brunei and Taiwan also hold competing claims.

Potentially dangerous incidents between Chinese and foreign aircraft over the South China Sea are nothing new, with several reported over the past several years between not only Australian and Philippine craft but also those of the US and Canada, who all say they operate in international airspace.

But the two latest incidents in less than a week are raising fears Beijing may be becoming more assertive in enforcing its disputed claims while the attention of the US – a defense treaty ally of the Philippines, Australia and Canada – is focused on the war in Ukraine and tensions in the Middle East.

“China sees that the Trump administration is focused on other theaters and calculates that this is the time to turn the ratchet up in East Asia while America is distracted elsewhere,” said Ray Powell, director of SeaLight, a maritime transparency project at Stanford University’s Gordian Knot Center for National Security Innovation.

“Beijing is following a familiar pattern of gradual escalation,” Powell said.

“Its goal is to normalize its aggressions at ever-greater levels, so that over time they become accepted and discounted as the normal cost of doing business in contested areas.”

Adm. Samuel Paparo, the head of the US Indo-Pacific Command, told a forum in Hawaii last week that China is using similar “gray zone” tactics around the democratic island of Taiwan, which is claimed by Beijing, and which Chinese leader Xi Jinping has vowed to bring under the Communist Party’s control.

Numerous Chinese military aircraft and maritime vessels operate around Taiwan daily.

“Their aggressive maneuver around Taiwan right now are not exercises, as they call them. They are rehearsals. They are rehearsals for the forced unification of Taiwan to the mainland,” Paparo told the Honolulu Defense Forum last week.

This post appeared first on cnn.com

Ukrainian President Volodymyr Zelenskyy has declined a US bid to take control of half of Ukraine’s rare earth mineral rights, instead signaling his intention to pursue a more favorable deal.

The proposal, brought to Kyiv last week by American Secretary of the Treasury Scott Bessent, came after President Donald Trump’s controversial suggestion that the US should secure approximately US$500 billion worth of Ukraine’s critical resources in exchange for military support amid the country’s ongoing war with Russia.

The proposed agreement would have granted the US ownership of around 50 percent of Ukraine’s substantial reserves of minerals such as lithium, titanium and graphite — resources vital for high-tech industries and defense.

The deal presented by Bessent centers on repayment for past US aid, without addressing future assistance or security guarantees, a key point of concern for Zelenskyy and his administration.

Zelenskyy, alongside other Ukrainian officials, has expressed reservations over the terms of the deal.

The Ukrainian president is seeking a broader arrangement that ties the country’s mineral rights to ongoing protection.

“We are still talking,” Zelenskyy remarked during a press briefing in Munich on Saturday (February 15).

He emphasized that any agreement would need to involve not just the US, but also other international partners, including European Union countries, to ensure Ukraine’s long-term security and stability.

The lack of clear security guarantees in the proposal has raised questions in Ukrainian circles, particularly as Russian forces continue to target vital infrastructure, including eastern regions rich in mineral resources.

Bessent has defended the US proposal, saying that the presence of American forces looking to secure Ukrainian mineral deposits would serve as a deterrent to Russian aggression. This explanation has done little to reassure Ukrainian officials, who have criticized the deal for failing to offer a substantive long-term security framework.

The Financial Times reported that a senior Ukrainian official, familiar with the negotiations, described the document as “tough,” with little regard for Ukraine’s sovereignty and future needs.

Adding complexity to the negotiations, the US proposal specifies that any disputes over the mineral rights would be resolved under New York law. Ukrainian officials have expressed skepticism about the enforceability of such terms, particularly given the ongoing conflict and the difficulties of conducting business in a war-torn country.

Zelenskyy has made it clear that Ukraine will not sign any deal until further legal review and negotiations are completed.

Ukraine’s mineral sector faces significant challenges. The country’s critical minerals are located in areas heavily affected by the conflict with Russia, making extraction and development operations risky and difficult to manage.

The Zavallivsky graphite mine, for example, a vital source of the nation’s mineral wealth, has suffered from equipment shortages and workforce reductions due to the war, hindering its ability to expand production to meet potential demand.

Furthermore, industry experts have warned that large-scale extraction of Ukraine’s minerals would require significant foreign investment, which remains uncertain amid the unstable security situation. Without it, the country’s mineral reserves are likely remain underdeveloped, despite their immense potential value.

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

This post appeared first on investingnews.com

Tuttle Capital Management has submitted regulatory filings for an exchange-traded fund (ETF) that seeks to invest in companies potentially involved in advanced technologies linked to unidentified flying objects (UFOs).

The proposed fund, called the Tuttle Capital UFO Disclosure AI Powered ETF (UFOD), will allocate the majority of its assets to aerospace and defense firms believed to have exposure to classified research and development projects.

According to documentation sent to the US Securities and Exchange Commission (SEC), UFOD is designed to track companies engaged in research that may involve technology beyond conventional scientific advances.

The fund will also take short positions against firms that could be negatively impacted by potential breakthroughs in these technologies. Overall, the ETF’s investment strategy will depend on government disclosures regarding UFO-related research and alleged technological developments.

Tuttle Capital’s CEO, Matthew Tuttle, has stated that the fund’s strategy is based on speculation about the existence and possible reverse engineering of advanced aerospace technologies.

“I’m a trader. I look at (UFOs) and I say that they’re using a power source that is light years beyond anything that we have … If our government has this technology and it’s released, that will be a game-changer,” he told the Financial Times.

The firm’s SEC filing notes that government confirmation of such technologies remains uncertain, and that market sentiment around these themes is highly speculative.

UFOD is part of a broader lineup of artificial intelligence (AI) ETFs that Tuttle Capital is developing. In addition to UFOD, the firm has filed for seven other ETFs, including those focused on AI in healthcare, quantum computing and global innovation.

Each fund will integrate AI-driven selection models to determine portfolio composition and adjust allocations.

The filing states that all eight ETFs, including UFOD, will be listed on the Cboe BZX Exchange.

Specific launch dates and expense ratios have not been disclosed at this time. The regulatory approval process and market conditions will determine the timing of their introduction.

The SEC’s review process will assess whether the proposed ETFs meet regulatory standards. The agency itself has recently seen increased filings for ETFs incorporating AI into investment decisions.

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

This post appeared first on investingnews.com

DOGE chief Elon Musk revealed details about his thought process on endorsing President Trump during a sit-down interview with Trump and Fox News anchor Sean Hannity on Tuesday night that the president said he had not heard before.

‘I was going to do it anyway,’ Musk said during the interview that aired Tuesday night when Hannity mentioned that his endorsement of Trump came after an attempt on his life in Butler, Pennsylvania on the campaign trail.

‘That was it?’ Hannity said.

‘That was a precipitating event,’ Musk said. 

‘That sped it up a little bit?’ Trump then said to Musk. ‘I didn’t know that.’

Musk responded, ‘It sped it up, but I was going to do it anyway.’

Musk announced that he ‘fully supports’ former President Trump after gunshots rang out at his Pennsylvania rally in July in a move that many, including some Democrats, believe played a significant role in Trump’s campaign.

‘Not even just that he has endorsed [Trump], but the fact that now he’s becoming an active participant and showing up and doing rallies and things like that,’ Dem. Sen. John Fetterman told the New York Times in October, explaining that the enormously successful Tesla and SpaceX CEO is an attractive figure for the kinds of voters Harris needs to win.

‘I mean, [Musk] is incredibly successful, and, you know, I think some people would see him as, like, a Tony Stark,’ said Fetterman, referencing the popular Marvel Comics character. ‘Democrats, you know, kind of make light of it, or they make fun of him jumping up and down and things like that. And I would just say that they are doing that at our peril.’

In an interview with CNN, Fetterman added, ‘Endorsements, they’re really not meaningful often, but this one is, I think. That has me concerned.’

Fox News Digital’s Chris Pandolfo contributed to this report

This post appeared first on FOX NEWS

Elon Musk has signaled interest in auditing US gold reserves stored at Fort Knox, a Kentucky-based army installation, suggesting the Department of Government Efficiency (DOGE) take on the task.

Musk, known for his frequent social media interactions, replied on Saturday (February 15) when an X user said it would be ‘great’ to have Musk make sure Fort Knox’s 4,580 metric tons of gold are really there.

‘Surely it’s reviewed at least every year?’ questioned Musk.

His comment prompted a response from Senator Rand Paul (R-Ky.), who has advocated for increased transparency regarding the gold at Fort Knox for years. He signaled support for an audit with his reply, “Nope. Let’s do it.’

Speaking on ‘Fox & Friends,’ Paul said he has been trying to visit Fort Knox to verify its gold reserves for a decade. He added that he was initially granted permission during the first Trump administration, but the visit never took place.

Paul emphasized to the news outlet that verifying the existence of the site’s gold reserves is critical.

‘I think some of them may not think it needs to be audited all the time, but I think the more sunlight, the better, more transparency, the better. And also, it brings attention to the fact that gold still has value and implicitly, not explicitly, but implicitly, gold still gives value to the dollar,’ Paul said during the interview, highlighting gold’s role in global finance.

Senator Mike Lee (R-Utah) has weighed in as well, claiming he too has been denied access to Fort Knox.

Musk added in a further X post:

“Who is confirming that gold wasn’t stolen from Fort Knox? Maybe it’s there, maybe it’s not. That gold is owned by the American public! We want to know if it’s still there.’

The tech billionaire also drew further attention to the debate by posting a meme.

The last-known full audit of Fort Knox’s gold reserves occurred in 1953.

A partial review took place in 1974 when treasury officials and journalists were allowed to inspect a small portion of the gold. Since then, the facility has maintained strict no-visitor policies, with limited oversight of its holdings.

The US has the largest gold reserves in the world, with over 8,100 metric tons, according to the World Gold Council.

Fort Knox alone houses approximately 147 million troy ounces of gold, currently worth about US$426.3 billion.

While the US Department of the Treasury maintains that the gold remains intact, the absence of recent independent audits has led to speculation. The issue gained renewed attention after Australia discovered counterfeit gold in the Bank of England’s reserves, raising concerns about the authenticity of stored bullion worldwide.

Some financial analysts argue that a lack of transparency at Fort Knox could erode confidence in US gold reserves, particularly at a time when central banks worldwide are increasing their gold holdings.

As mentioned, Musk has indicated that DOGE could be tasked with conducting the audit.

The recently formed department has been involved in reviewing various government agencies, including the US Agency for International Development and the Consumer Financial Protection Bureau.

Musk has not provided specific details on how DOGE would carry out the audit, or whether government approval would be required. However, his involvement has generated significant public interest, with some speculating that private sector oversight could push for more transparency in government gold reserves.

The discussion over Fort Knox’s gold reserves comes as the gold price continues to rise.

Goldman Sachs (NYSE:GS) has boosted its year-end gold price forecast to US$3,100 per ounce, and worries over inflation and economic instability have increased demand for the metal.

At the same time, the debate has drawn comparisons to Bitcoin, with some arguing that digital assets provide a more transparent alternative to traditional gold reserves.

Musk’s comments have fueled speculation over whether missing or mismanaged gold reserves could drive further interest in cryptocurrency as a store of value.

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

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