“AI Boom Risks Global Financial Crash, Warn Central Bankers”
June 28th, 2026Via: Telegraph:
Substantial debt-fuelled spending on AI is driving up the risk of a global financial crisis, central bankers have warned.
The Bank for International Settlements (BIS) said on Sunday that “excessive” spending on new AI data centres and opaque, debt-fuelled transactions risked a financial meltdown similar to the global credit crunch nearly two decades ago.
The BIS, known as the bank for central banks, said there was growing “peril” in financial markets from the complex web of financial ties between AI giants, shadow banks and data centre builders unravelling.
“Financial stability could … be at risk in the event of an AI bust,” the BIS said. “Should hyperscalers slow or halt the aggressive pace of capex deployment, many borrowers across the supply chain could struggle to replace lost revenue and service their debt.
“The opacity of AI-sector financing compounds these vulnerabilities.”
“Plan to Steer Hurricanes”
June 28th, 2026Via: USA Today:
Technology is on the cusp of allowing humans to disrupt or steer natural disasters, like hurricanes, according to a new study, which appeared in the journal PLOS Water on June 24.
If that sounds like far-fetched science fiction, some scientists would agree with you. But study authors say humans must embrace technology to help tame the world’s weather, before it’s too late.
“The growing impact of weather extremes on society highlights that traditional approaches such as dams, levees, and insurance alone may not be sufficient to address the widespread consequences of these hazards,” the authors say.
Their proposed solution: Use existing technology (often used to extract rain from clouds), and supercharge it with high-tech data and analysis. Done correctly, humans might be able to disrupt huge weather systems and protect densely populated areas.
The One About Space Based Data Centers
June 27th, 2026Via: Real Engineering:
Related: SpaceX AI Satellites
Iran Attacked a Cargo Ship, U.S. Attacked Iran
June 27th, 2026Via: The War Zone:
After the U.S. airstrikes, Iran reiterated that it will continue to hold at risk shipping in the Strait that does not follow its rules for transit.
“Iran has repeatedly stated that the situation in the Strait of Hormuz will not return to what it was before the U.S. attack on Iran,” the official Iranian IRIB media outlet stated on X. “Any transit through the Strait must follow the routes announced by Iran; otherwise, the security of vessels cannot be guaranteed.”
Ukraine Launches Attack Against Russia with 660 Drones
June 27th, 2026Via: Daily Mail:
Ukraine has unleashed a huge barrage of 660 drones in a major nighttime attack across Russia in the latest humiliation for Vladimir Putin.
It appeared to be one of the biggest drone attacks on Russia and the illegally annexed Crimea since Moscow’s full-scale invasion of Ukraine more than four years ago.
The previous biggest Ukrainian attack over the past year was 556 drones on May 17.
In an effort to turn the tables on Russia’s grinding war of attrition, Ukrainian long-range drones have for months been battering targets, including oil production and energy facilities, behind the front line and deep inside Russia.
Trump’s War Economy Accelerates As Lockheed Wins $35 Billion Deal To Quadruple Missile-Interceptor Output
June 26th, 2026Mission accomplished.
Via: ZeroHedge:
President Trump’s war economy continues to gain steam as weapons production is kicked into high gear and stockpiling becomes a top priority for the Department of War.
The latest evidence: Lockheed Martin has won a DoW contract worth up to $35 billion to quadruple production of THAAD missile-defense interceptors, according to Bloomberg.
The seven-year agreement follows a January framework deal between Lockheed and DoW to boost interceptor output over the next few years. It also comes as the White House moves to mobilize the defense industrial base, with Trump invoking the Defense Production Act to reduce manufacturing bottlenecks.
Apple Increases Prices Due to Memory Shortage
June 25th, 2026Via: Mac Rumors:
Apple today raised prices on many of its products, including all Macs and iPads, as well as the Apple TV, HomePod, HomePod mini, and Vision Pro. We shared a list of the price increases, which range from $30 for the HomePod mini to up to $1,300 for the Mac Studio. iPhone, Apple Watch, and AirPods prices have not changed, at least for now.
How Wall Street Launders Dogsh*t Into Retirement Funds
June 25th, 2026Via: ZeroHedge:
One of the more embarrassing habits of modern finance is its insistence on pretending the stock market has some integrity left.
Capital, we used to think, flowed to the most productive businesses. Prices reflected fundamentals. Risk was priced. The market, in the long run, separated signal from noise and rewarded cash generation over fantasy. That is the civics-class version of markets, and at this point it bears no resemblance to the one we actually trade in.
The market’s core failure right now is not simply overvaluation. Markets have always produced overvalued stocks. The deeper problem is that speculative inflation can now be mechanically converted into benchmark legitimacy and then forcibly distributed to passive investors as “diversification.”
In other words, the modern market increasingly allows stocks to get bid up through narrative, call option activity and momentum, then ratifies those bloated valuations through index inclusion, and finally pipes them directly into the retirement system through ETFs, mutual funds and model portfolios.
Related: SpaceX, Anthropic and OpenAI IPO Bag Holders – You Might Become One of Them
Anthropic Accuses Alibaba of Massive Knowledge Distillation “Attack”
June 24th, 2026From, U.S. GOVERNMENT FORCES ANTHROPIC DISABLE FABLE 5 AND MYTHOS 5 CITING NATIONAL SECURITY:
I wonder if people had enough time to run knowledge distillation operations against Fable 5 and Mythos 5 before access was cut off?
In the olden days, I got an alert from my company’s firewall indicating that it was under attack. I looked through the log and found hundreds of entries that said, “Hacked by Chinese!”
I showed it to my buddy and we both burst out laughing. (If I have one propeller in my beanie, that dude has about a hundred.)
The company’s lawyer walked past and wondered what we were laughing about. I showed him.
He was a former U.S. Navy pilot and knew nothing about computers at all.
His eyes bugged out and in all seriousness asked, “Are we under attack? Are they in the building?!”
My buddy and I burst out laughing even harder.
lol
It was a simpler time…
Via: Reuters:
U.S. AI company Anthropic accused Alibaba, ?the ?Chinese technology and e-commerce giant, of ?illicitly extracting its Claude AI model capabilities in what it said was the largest ?known attack of its kind on the company, according to a letter seen by Reuters.
The strike by Alibaba is described as ?a “distillation” effort, which Anthropic has said involves ?training a less capable model on the outputs of a stronger one.
Anthropic said the campaign was conducted between April ?22 and ?June 5, 2026, and generated more than 28.8 million exchanges with Claude through almost ?25,000 fraudulent accounts.
Anthropic said in the letter that distillation is a way to help accelerate China’s ability to reach Anthropic’s advanced Mythos Preview capabilities.
Digital Euro Moves Ahead
June 23rd, 2026Via: Reuters:
The European Central Bank secured key parliamentary backing on Tuesday for the launch of a digital euro, an electronic means of payments aimed at making the euro zone less reliant on U.S. credit cards at a ?time of fraying transatlantic relationships.
The digital euro, essentially an electronic wallet guaranteed by the central bank but marketed by banks or fintech companies, will allow all euro zone ?residents to make payments online and in person.
