August 12, 2026
Why would Treasury Secretary Scott Bessent sell euros to support the Japanese yen instead of using dollars, the conventional tool for such an intervention? The answer may lie far beyond Japan. At the center of the strategy are rising U.S. Treasury yields, Japan’s enormous Treasury holdings, the danger of signaling deliberate dollar weakness, and the Trump administration’s need to keep financial markets stable heading into the midterm elections.
Iran’s new top national security official, Mohsen Rezaei, says Tehran will not reopen the Strait of Hormuz unless the United States changes course, releases frozen Iranian funds, and meets additional Iranian demands. U.S. military intelligence reportedly assesses that control of the strategic waterway has become a higher priority for Tehran than its nuclear program.
“Jihadists are getting elected all over the country,” Trump told reporters at the White House, warning about the rise of communism, jihadism and radical politics inside the Democratic Party.
“This president is trying to push this SAVE Act, which basically would require that for people to register to vote, you're gonna have to have proof of who you are."
Lessons from the French Revolution
The sharp selloff across semiconductor and AI infrastructure stocks is being driven by several forces at once: growing competition from lower-cost Chinese AI models, concerns over delays to U.S. data center construction, rising geopolitical and interest-rate pressure, problems with long-term semiconductor contracts, and the forced unwinding of heavily leveraged positions. The correction is painful, but it does not necessarily mean the AI investment cycle is over. Instead, the market may be undergoing a major reset after one of the most crowded trades in recent history.
Thailand is in shock after a 14-year-old student carried out a deadly shooting at a school northwest of Bangkok, killing eight people and injuring at least 22 others. Newly released CCTV footage shows the terrifying attack unfolding in school hallways, while students in another classroom hide beneath desks as gunfire erupts nearby.
One of the main reasons Ukraine has managed to hold out against Russia for more than four years is its effective use of drones. Despite Russia's overwhelming military and economic advantages, low-cost drones have helped offset part of that imbalance.
