95% of central banks expect gold reserves to increase over the next 12 months

Gunfire near the White House Saturday evening. A suspect fired shots near the White House gates around 6 PM ET. The Secret Service engaged and shot the suspect outside the perimeter. Reporters on the North Lawn heard 20-30 shots, with the majority coming from the Secret Service response. At least two people were shot, including the suspected gunman, who is in grave condition. A second person, possibly a juvenile bystander, was also injured. No Secret Service agents were hurt. Trump was inside the White House at the time. FBI Director Kash Patel confirmed the FBI is on scene supporting the Secret Service. The lockdown was lifted about 40 minutes later. No motive or identification of the suspect has been reported. This is still developing.

President Trump announces that a major agreement with Iran has been “largely negotiated” and will be revealed shortly, including the reopening of the Strait of Hormuz for shipping.

The Washington Times reports the US and Iran are expected to announce a draft agreement within 24 hours to end fighting on all fronts. The draft has been sent to both leaders for final approval. JD Vance, Steve Witkoff, Jared Kushner, and Iranian Parliament Speaker Ghalibaf have reportedly signed off. Trump convened his national security team and held a call with leaders from Saudi Arabia, UAE, Qatar, Egypt, Turkey, and Pakistan. Several urged him to accept. The Financial Times describes a more limited version: a 60-day ceasefire extension, gradual reopening of the Strait of Hormuz, and a framework for nuclear talks. Core issues remain unresolved. No final decision has been made. Trump says he may decide by Sunday. CNN reports he was also presented options to resume strikes.

"The vaccines are annual money makers versus the cure, which was $10 of doxycycline covered by insurance. So pharma said no, we're going to do the vaccine." - (krisnewby) The Bayh-Dole Act let government scientists patent discoveries and split profits with pharma.

"Some people are so allergic they can't even go to a Texas barbecue without having respiratory issues." - (krisnewby) A single lone star tick bite can give you a lifelong allergy to red meat.

"Some people called it the poor man's nuke." - (krisnewby) The Army weaponized ticks because they inject directly into the body, bypass any protection, and leave no trace.

AI token spending has more than doubled since December 2025.

Kevin Warsh is inheriting the highest 10-year Treasury yields on a Fed chair's swearing-in date since Alan Greenspan in August 1987.

US money supply growth just hit 4% on a 6-month rolling basis. Fastest growth in 4 years.

TFTC 749 w/ (KrisNewby): "They weaponized fleas, ticks, and mosquitoes so we could drop them on our enemies during the Cold War." We discuss: ⚡ The CIA's tick bioweapon program ⚡ The Cuba operation in the JFK files ⚡ How Lyme Disease broke containment

The Trump administration is preparing for a possible new round of military strikes on Iran, per CBS News. No final decision has been made. Trump has signaled some flexibility on timing but has also made clear there will be consequences if Iran doesn't make a deal. Trump canceled his Memorial Day weekend plans and is returning to the White House. He's also skipping his son's wedding, citing "circumstances pertaining to Government." Some military and intelligence officials have also canceled weekend plans as the Pentagon updates readiness posture at overseas installations. The US transmitted what it called a final proposal to Iran on Wednesday via Pakistan, with a warning that rejection means strikes resume. Iran is reviewing it. Trump said Friday: "Iran is dying to make a deal. We'll see what happens." Rubio referenced NATO conversations in Sweden about reopening the Strait of Hormuz by military force as "Plan B" if Iran doesn't agree to do so on its own. Iran's IRGC warned that further strikes could widen the conflict "beyond the Middle East." House Republicans abandoned an effort Thursday to vote on limiting Trump's war authority against Iran after concluding they didn't have the votes.

The SEC approved Nasdaq to list cash-settled Bitcoin index options on the PHLX exchange. The options are European-style, based on the CF Benchmarks Bitcoin Reference Rate, and settle in USD. No physical bitcoin is held. These are separate from the Bitcoin ETF options already trading on CBOE. Index options are standard derivatives infrastructure across equity markets.

JPMorgan is looking to offload $4 billion in risk from NAV loans, which are loans backed by private equity fund assets. The proposed structure lets them keep the loans on their balance sheet but shift potential losses to outside investors. NAV loans have been one of the most controversial instruments in private equity. Buyout firms use them to create artificial liquidity and boost returns without actually selling anything. The market is projected to hit $700 billion by 2030. Critics have warned they add hidden layers of leverage on top of already leveraged portfolios. The largest bank in the US building a structure specifically to transfer losses to someone else is a signal. You don't do that if you're comfortable with the risk. Investor sentiment toward private credit has also weakened over concerns about loosening lending standards and AI disrupting the software sector, where a large portion of PE fund value is concentrated.

Fox Business: The Trump administration wants to make purchasing a home with bitcoin "the real estate norm." A $4.2 million home already sold with bitcoin and closed faster than most traditional transactions.

The SEC delayed a plan that would have given crypto firms broad exemptions to trade tokenized versions of US stocks. The exemption was originally expected by May 18. Stock exchange officials and other market participants raised concerns after learning the details, specifically a provision that would allow trading of third-party tokens issued without the backing or consent of the public companies involved.

Rep. Nick Begich’s American Reserve Modernization Act has secured 21 cosponsors.

Economist Richard Werner: "Christine Lagarde says we need CBDC because there's Bitcoin. Well, the digital is not the new aspect. We have digital money. It's the central aspect that this is about."

Economist Richard Werner: "The IMF World Bank system has been designed to keep developing countries from developing. To prevent development and keep them poor but effective cheap exporters of raw materials according to the British colonial model." "The Belt and Road Initiative is an alternative. Many countries including in Africa have joined for this reason."

Sen. Cynthia Lummis gives her farewell to Jerome Powell.