US House Passes FIT21 Crypto Bill With Bipartisan Support, Biden Does Not Threaten Veto

US House Passes FIT21 Crypto Bill With Bipartisan Support, Biden Does Not Threaten Veto:

https://archive.ph/TZdGg

A majority of US House of Representatives members voted in favor of legislation to establish regulatory clarity over digital assets, CoinTelegraph reports.

In a 279 to 136 vote on May 22, House lawmakers approved H.R.4763, or the Financial Innovation and Technology for the 21st Century (FIT21) Act. If passed by the Senate and signed into law, the bill clarifies the roles the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have over digital assets. 71 Democrats joined with 208 Republicans to vote in favor of the bill.

“Unfortunately, our current regulatory framework is preventing digital assets’ innovation from reaching its full potential,” said Representative Patrick McHenry before the House vote. “The SEC and the CFTC are currently in a food fight for control of these asset classes.”

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The Incoming Commercial Real Estate Crisis No One Seems Prepared For

The Incoming Commercial Real Estate Crisis No One Seems Prepared For:

Authored by Kevin Stocklin via The Epoch Times (emphasis ours),

It has been a year since a string of U.S. regional bank failures, together with the collapse of global heavyweight Credit Suisse, caused many to fear that a major financial crisis was imminent.

But, by the summer of 2023, the panicked withdrawals by frightened depositors largely subsided.

In February, however, New York Community Bank (NYCB) appeared to resurrect the crisis when it announced $2.4 billion in losses, fired its CEO, and faced credit downgrades from rating agencies Fitch and Moodys.

In what has become a familiar tale for U.S. regional banks, NYCB’s share price plummeted by 60 percent virtually overnight, erasing billions of dollars from its market value, and its depositors fled en masse.

I think that there’s more to come,” Peter Earle, a securities analyst and senior research fellow at the American Institute for Economic Research, told The Epoch Times.

Read moreThe Incoming Commercial Real Estate Crisis No One Seems Prepared For

Nearly 300 Boeing 777s Used By United & American Airlines At Risk For ‘Exploding’ Fuel Tanks

Nearly 300 Boeing 777s Used By United & American Airlines At Risk For ‘Exploding’ Fuel Tanks :

https://archive.ph/GM1eU

Overnight, DailyMail reported that yet another fleet of Boeing jets has a potentially disastrous flaw. The 777, commonly called the Triple Seven, has poor electrical insulation near its fuel tank that can cause “fire or explosion.”

Back in March, the Federal Aviation Administration raised concerns about the 777’s safety and set a deadline of May 9 for Boeing and third-party experts to respond. However, it’s still unclear whether the company has taken any action, as reported by DailyMail.

“This condition, if not addressed, could result in an ignition source inside the fuel tank and subsequent fire or explosion,” the Airworthiness Directives note states.

The FAA noted the safety fix includes “installing electrical bonding and grounding” to prevent short-circuiting “electrostatic discharge to the surrounding structure” around the air intake system near the 777’s center-wing fuel tanks. The projected cost to fix the 292 vulnerable wide-body planes is around $700k.

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Walmart, Target Unleash Price-Cut Tsunami As Working-Poor Hit Brick-Wall

Walmart, Target Unleash Price-Cut Tsunami As Working-Poor Hit Brick-Wall:

Some of the nation’s largest retailers are rolling back prices in response to low-income consumers hitting a proverbial brick wall. These consumers have maxed out credit card debt and drained personal savings to dangerously low levels in the era of failed Bidenomics. This also comes after an underwhelming April retail sales report and several notes from Goldman warning about faltering low-income consumers:

On Monday, Target announced, “It will lower everyday regular prices on approximately 5,000 frequently shopped items across its assortment. The retailer has just reduced prices on about 1,500 items, with thousands more price cuts planned to take effect over the course of the summer.”

“Consumers will enjoy savings on everyday items such as milk, meat, bread, soda, fresh fruit and vegetables, snacks, yogurt, peanut butter, coffee, diapers, paper towels, pet food and more,” the retailer said.

One can’t help but ask what influence (if any) the Biden administration had in potentially pressuring Target to lower prices. Food inflation is crushing the working poor, as Democrats are begging the president to lower prices by executive fiat.

Read moreWalmart, Target Unleash Price-Cut Tsunami As Working-Poor Hit Brick-Wall

Dutch Lawyer Faces Prosecution For Social Media Post Slamming Mass Migration

Dutch Lawyer Faces Prosecution For Social Media Post Slamming Mass Migration:

A Dutch conservative female lawyer is being prosecuted on charges of “racism” and “inciting hatred” after she expressed fury over mass migration in response to a viral video showing a white boy being beaten up and thrown onto a railway track by a gang of migrants.

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Israel Has Killed Just 30-35% Of Hamas Fighters: US Intel Officials

Israel Has Killed Just 30-35% Of Hamas Fighters: US Intel Officials:

Politico reports US intelligence officials also warning that 65 percent of Hamas’ tunnel infrastructure remains intact

Only around 30 to 35 percent of Hamas fighters have been killed after more than seven months of operations by Israel in the Gaza Strip, US intelligence sources told Politico.

According to Politico, the majority of fighters who were members of the Palestinian movement prior to the 7 October attack in southern Israel are still alive, even as the reported death toll in Gaza has reached over 35,000 dead, mostly women and children.

In addition, around 65 percent of Hamas’ tunnel infrastructure remains intact, Politico’s sources said, and thousands of new members are said to have been recruited to the group in recent months.

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Long-Wear, Noise-Canceling, And Wireless: How Earphones Damage Our Hearing

Long-Wear, Noise-Canceling, And Wireless: How Earphones Damage Our Hearing:

https://archive.is/z529v

Authored by Marina Zhang via The Epoch Times (emphasis ours),

On Nov. 24, 2019, a new thread titled “AirPods causing tinnitus?” appeared on the Apple community forum page.

The Apple user said that after using AirPods for a while, he noticed a high-pitched ringing in his ears that didn’t go away.

According to him, he has always been highly protective of his hearing; he doesn’t listen to anything loud and always carries earplugs in case he encounters anything that could damage his hearing. But things only got worse.

“Having said all that, now I notice that when I put my AirPods in my ears and have nothing playing, they emit a high pitched tone that I would say exactly replicates the tone of my tinnitus, leaving to me believe that the AirPods actually caused my tinnitus,” the user wrote.

Since the thread was published in 2019, over 3,200 Apple users have responded with “Me too.”

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Netanyahu Issues Warning To US Leaders Over ICC Arrest Warrants: ‘You’re Next’

FYI.

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Netanyahu Issues Warning To US Leaders Over ICC Arrest Warrants: ‘You’re Next’:

Authored by Jack Phillips via The Epoch Times (emphasis ours),

Israeli Prime Minister Benjamin Netanyahu said Tuesday that he disagrees with arrest warrants sought against him by the International Criminal Court (ICC), suggesting that U.S. leaders could be next.

The ICC this week said it would seek arrest warrants for Mr. Netanyahu, Defense Minister Yoav Gallant, and the Hamas leaders, prompting criticism from both Israeli and top U.S. officials, including President Joe Biden. The ICC claimed that the warrants for the Israeli leadership were over the country’s conduct in the ongoing Israel-Hamas conflict.

Mr. Netanyahu said the warrants against himself and Defense Minister Yoav Gallant over the country’s conduct in its fight against Hamas in the Gaza Strip set a “dangerous” precedent for other democratic countries, including Israel’s allies.

Read moreNetanyahu Issues Warning To US Leaders Over ICC Arrest Warrants: ‘You’re Next’

Concerns Grow Over The Increasing Abilities Of AI

Concerns Grow Over The Increasing Abilities Of AI:

Authored by Raven Wu and Cindy Li via The Epoch Times (emphasis ours),

Big tech companies’ full commitment to developing artificial intelligence (AI), even enabling AI to “see” and “speak” to the human world, has led to a growing concern over humans being controlled by technology.

Ilya Sutskever, the co-founder of OpenAI, made a significant announcement on May 15, officially declaring that he was leaving the company where he had worked for nearly ten years.

“I’m confident that OpenAI will build AGI [artificial general intelligence] that is both safe and beneficial under the leadership of @sama (Sam Altman), @gdb (Greg Brockman), @miramurati (Mira Murati) and now, under the excellent research leadership of @merettm (Jakub Pachocki). It was an honor and a privilege to have worked together, and I will miss everyone dearly,” he wrote in a post on the social media platform X.

The news sent shockwaves through the tech industry. In November 2023, due to AI safety issues, Mr. Sutskever and other board members joined forces to oust OpenAI’s CEO, Sam Altman, who was briefly expelled from OpenAI but returned and removed Mr. Sutskever and several board members, restructuring the board to be more aligned with his vision.

Read moreConcerns Grow Over The Increasing Abilities Of AI

Lamborghini Recalls Urus SUV Over Risk Hoods Fly Open At High Speeds

Lamborghini Recalls Urus SUV Over Risk Hoods Fly Open At High Speeds:

Lamborghini has detailed in a safety recall report filed with the National Highway Traffic Safety Administration (NHTSA) that over 2,000 of its $200,000 SUVs are at risk of the hood flying open at high speeds.

Lamborghini’s Part 573 Safety Recall Report affects 2,133 Urus vehicles. This type of recall means the manufacturer identified a safety defect and filed with the NHTSA. Manufacturers must submit these reports in a timely fashion after identifying the defects.

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Charges Dropped Against New Jersey Gym Owner Who Defied Strict COVID Lockdown Rules

Charges Dropped Against New Jersey Gym Owner Who Defied Strict COVID Lockdown Rules:

Authored by Katabella Roberts via The Epoch Times (emphasis ours),

The owner of a gym in New Jersey who shot to national attention after defying COVID-19 restrictions by keeping his gym open has had all charges against him dropped.

Ian Smith, the co-owner of Atilis Gym in Bellmawr, said in a statement on the social media platform X on May 18 that the more than 80 charges against him and the gym’s co-owner Frank Trumbetti have been dropped with prejudice, meaning they cannot be revisited or refiled.

Among the charges levied against the two men by the state were violations of a governor’s order, public nuisance, disturbing the peace, and operating without a license.

“The support we received locally, nationally, and internationally for our stand is something I will be forever grateful for,” Mr. Smith said. “With that being said, I am thrilled to announce that we have achieved a major victory in the long, hard fight against the State.”

Mr. Smith added that the “victory opens the battlefield again and gives us options to continue to push back and bring justice to the treasonous actions of Phil Murphy and his lackies [sic],” referencing the New Jersey Governor.

He further thanked his “fearless attorneys,” adding that “some of the most high profile attorneys around the country ran from our case—knowing it would be a long, hard road and would make them a target of the stare.”

“Again, thank you to all who supported us. We could not have done it without you … Nobody is coming to save you, save yourself. Spit on your hands and hoist the black flag. No quarter,” he concluded.

Gym Owners Rack Up Millions in Fines

Mr. Smith and Mr. Trumbetti racked up hundreds of thousands of dollars in fines—including a $15,000 per day fine—for keeping their gym open in defiance of a state-wide order instructing non-essential businesses to close during the COVID-19 pandemic in May 2020.

The two men had argued that they had implemented a range of safety protocols at the gym and had only found a single case of the virus that could be traced back to the health facility, despite receiving upward of 84,000 visits.

However, state officials held steady with the fines, and in December 2021, Mr. Smith said they amounted to more than $1.2 million for violating the public health emergency rules, although he stressed he had no intention of paying them.

Read moreCharges Dropped Against New Jersey Gym Owner Who Defied Strict COVID Lockdown Rules

Stagflation is going worldwide, with 13 rich countries now in per capital recession (Peter St Onge, Ph.D. Video)

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“Small business have issued a cry for HELP” – “With fears of almost half of them going BROKE” – (Video)

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