The Myth of Free Banking in Scotland

European Rearmament Efforts Snuffed By Chinese Control Of Critical Materials Yesterday we reported that, in a tit-for-tat move, China announced it is targeting US rare earths firms in response to a Pentagon list of Chinese firms: this, as Rabobank noted, is largely a symbolic move, but it still underlines the tensions in this area. So does the Nikkei reporting that ‘China minerals control threatens EU rearmament, as bloc seeks new sources’: because, as Rabo's Michael Every notes, even if you can afford a dagger, you can’t make it without rare earths, and...

Trump Announces US To Cover Insurance For All Ships Traveling Through Gulf, Will Provide US Navy Escorts Update (1440ET): Moments ago President Trump announced that the United States will provide insurance for "ALL Maritime Trade" via the US Development Finance Corporation (DFC), and will provide Navy escorts, "if necessary." Effective IMMEDIATELY, I have ordered the United States Development Finance Corporation (DFC) to provide, at a very reasonable price, political risk insurance and guarantees for the Financial Security of ALL Maritime Trade, especially Energy, traveling through the Gulf. This will be available to all Shipping Lines....

New Disney CEO Delivers Earnings Beat As "Important Change" Underway Disney reported better-than-expected second-quarter results, driven by momentum across entertainment, sports, and experiences, while reaffirming its positive outlook for the year. "At an important moment of change for Disney, we remain focused on executing our long-term growth strategy," Disney wrote at the beginning of the earnings release. The entertainment company continued, "Our creative and operational momentum drove strong quarterly results, and we continue to expect growth to accelerate in the second half of the fiscal year." "We are strengthening streaming through continued investment...