Zohran Mamdani pledges on his campaign website to raise taxes on white people. Zohran’s campaign website reads: “Shift the tax burden from overtaxed homeowners in the outer boroughs to more expensive homes in richer and whiter neighborhoods...”

Kudlow: “Taxing based on the color of your skin now that is a new low for our little radical friend. It’s also racist. It’s also against the law.”

Zohran Mamdani in a New York State Assembly speech: “We must dismantle systems of white privilege embedded in our housing and economic policies to achieve true equity.”

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Major central banks are shrinking their balance sheets at a record pace:

The Fed, the European Central Bank, the Bank of Japan, and the Bank of England have reduced their asset holdings by an average of ~$110 billion/mo over the last 6 months.

They have maintained this pace of reduction over the last 2 years.

By comparison, in 2019, the speed of decline was ~$30 billion, or almost 4 times slower, and only the Fed and ECB were conducting QT.

Currently, the ECB is reducing assets by ~$60 billion, the Fed by ~$35 billion, the BoJ by $10 billion, and the BoE by ~$5 billion per month on average.

In the past, when a significant amount of liquidity was withdrawn, markets saw heightened volatility.

Is market volatility set to return?

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Vance confirms Marco Rubio’s findings. Only 12 cents of every dollar sent away as foreign aid is actually spent on what it’s supposed to be spent on

The rest is laundered by NGOs and their “subcontractors”

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The massive crackdown saw police launch morning raids against 170 individuals, which saw police seize computers, cell phones, and tablets, and conduct searches in multiple locations across the country.

The action, which was conducted by the Federal Criminal Police Office (BKA), uses the new Criminal Code Paragraph 188 to target individuals accused of racism and hate speech.

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State of the trenches

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The market is making history:

On Friday, the S&P 500 closed at an all-time high for the first time since February, marking a +24% rebound from its April low.

It took 89 trading days to recover between record highs, the fastest rebound following a -15% drop in history.

This breaks the previous record of 90 trading days set in 1998.

By comparison, in 2020, it took ~125 days for the S&P 500 to reach a new all-time high.

Furthermore, the S&P 500 has returned +10.0% so far in Q2, and is on track for its best quarterly performance since Q1 2024.

We are witnessing history.

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🇺🇸 NYC TO DEPLOY NET-FIRING DRONES TO HUNT DOWN “HOSTILE” DRONES IN MID-AIR

The NYPD is in talks to buy drone defense tech that intercepts suspect drones mid-flight, then shoots a mesh net to tangle their rotors and force a safe landing.

The $200K Iron Drone Raider System could be stationed at parades and major events to stop surveillance or attack attempts.

Deputy Mayor Daughtry:

“It will detect a hostile drone… the net will go around the drone and it will safely land."

The system’s creators say it’s already being tested abroad, including in the UAE.

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