As the week wraps up, here’s a quick look at some of the top stories that made headlines over the past few days.
Scaramucci Blames US For China’s Superpower Status
Anthony Scaramucci, the founder of SkyBridge Capital, criticized the U.S. for its decision to grant China permanent normal trade relations and World Trade Organization membership. He believes that this was a strategic miscalculation that led to China’s current status as a superpower. Scaramucci expressed his views in a recent post on Sunday X.
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Mark Kelly Slams Trump Over Sudden AI Executive Order Reversal
Mark Kelly, a vocal critic of President Donald Trump, has condemned Trump’s sudden reversal of an executive order related to AI. Kelly believes that this move will hinder America’s ability to lead in AI and has criticized the decision-making process. Trump, however, has a different perspective on the matter.
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Veteran Commodity Strategist Shorted Gold, But Here’s Why He Sees It At $10,000
Jeffrey Currie, a veteran commodity strategist, has made a bold prediction about the future of gold. Despite shorting the precious metal since March, Currie believes that gold will eventually rise to $10,000 an ounce after an initial tumble to $4,000. This prediction comes amid significant volatility in the precious metals market.
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Iran’s Strait Of Hormuz Toll System Sparks Sanctions Push
Senator Tom Cotton is reportedly urging Treasury Secretary Scott Bessent to impose sanctions on any country or entity supporting Iran’s new Strait of Hormuz toll system. This includes Oman, a key U.S. ally involved in establishing the system. Cotton argues that the toll system’s recognition violates freedom of navigation and funds a sanctioned terrorist entity.
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Trump’s Record Oil Reserve Drawdown Is Becoming A One-Way Bet
The U.S.’s emergency oil reserve is depleting at an unprecedented rate, with the Strategic Petroleum Reserve (SPR) dropping by almost 10 million barrels. This has reduced the total inventories to less than half of the levels held at the reserve’s 2009 peak, creating political discomfort for President Donald Trump.
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