Tuesday, May 5, 2026

Stablecoin Proposal Still 'Falls Short' Of Protecting Bank Deposits:


Stablecoin Proposal Still 'Falls Short' Of Protecting Bank Deposits: US Banks Say



America’s largest banking groups said they remain dissatisfied with the CLARITY Act’s newly proposed language on stablecoin yield, arguing that it fails to protect bank deposits.


In a statement Monday, the bankers acknowledged that US Senators Thom Tillis and Angela Alsobrooks are “seeking to achieve the correct policy goal” in prohibiting stablecoin yield but noted that the CLARITY Act’s “proposed language” currently “falls short of that goal.”

“It is imperative that Congress get this right,” the American Bankers Association said in a joint statement with the Bank Policy Institute, Consumer Bankers Association, Financial Services Forum and Independent Community Bankers of America.

The dispute between bankers and the crypto industry over stablecoin yield has stalled the bipartisan bill, which passed the House of Representatives in July by a 294-134 vote.

There are concerns that the CLARITY Act may not pass before the US midterm elections in November 2026, which could further hinder its progress.

Banking groups have previously cited studies suggesting that widespread stablecoin adoption could lead to trillions in outflows from the US banking system, particularly from community banks, which may not have enough balance-sheet flexibility to absorb these outflows without resorting to higher-cost wholesale borrowing. 

In the Monday statement, the bankers also cited an article by Stanford-trained economist Andrew Nigrinis to argue that stablecoin yields driving bank deposit outflows “could reduce all consumer, small-business, and farm loans by one-fifth or more, making it essential for the prohibition to be clear and transparent.”


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Hormuz "Deserted" As Iran Expands Area Of Control; Hundreds Of Ships Cluster Near Dubai


Hormuz "Deserted" As Iran Expands Area Of Control; Hundreds Of Ships Cluster Near Dubai
 TYLER DURDEN


The Strait of Hormuz has become a ghost town, er strait, with traffic grinding to a complete halt as no new commercial ship crossings were recorded despite a US effort to guide vessels through the waterway, according to Bloomberg.

While Maersk confirmed that its vessel Alliance Fairfax transited the strait on Monday under US military protection, Tuesday saw zero traffic following a day of violence that included attacks on vessels and missile strikes targeting the United Arab Emirates.

Confusion was rampant after Washington maintained that a safe passage exists, with two US destroyers reportedly entering the Gulf, but the heightened tensions kept commercial shipping at bay.




On Monday, two US vessels, one of them a vehicle carrier, moved out of the Persian Gulf under military escort while keeping their tracking signals off. Visible outbound activity during the same period was limited to an Iran-linked liquefied petroleum gas carrier, a small feeder containership, and a tiny regional cargo ship.

Ships transiting Hormuz with active AIS signals over the past day were confined to the narrow northern lane approved by Tehran. Also, widespread AIS spoofing has further clouded the picture, making independent verification of ship traffic virtually impossible

As reported previously, most of the recent Iran-linked departures have stalled in the Gulf of Oman; it remains unclear whether these vessels are following regional trading patterns or are being held up by a US naval blockade positioned further east. Only one containership entered the Persian Gulf on Monday before the flare-up in regional hostilities; there were no inbound transits on Tuesday.


While the fragile ceasefire held, about five dozen vessels moved toward Dubai in just one day, joining a growing cluster of at least 363 ships currently off the emirate in the Persian Gulf as Iran signaled it is expanding the area around Hormuz it now controls.

Iran’s Islamic Revolutionary Guard Corps (IRGC) unveiled on Monday a new mapshowing expanded areas around the critical chokepoint that Iran now claims to have under control. The area extends from a line between Kuh-e Mobarak in Iran and south of Fujairah in the UAE, and from another line between the end of Iran’s Qeshm Island and Umm Al Quwain in the UAE, according to the IRGC Navy.

Dubai, one of the seven emirates of the UAE, is just outside this new expanded area under Iranian control. Since Monday, nearly 60 vessels of all types have moved toward Dubai to an area of a large cluster of ships monitored by Bloomberg News. At least 363 vessels are in this area off Dubai, at least according to their tracking signals, which have become increasingly difficult to monitor and read since the war began and the Strait of Hormuz was closed.






Iran restarts attacks on Emirates as US fights to restore traffic in Strait of Hormuz


Iran restarts attacks on Emirates as US fights to restore traffic in Strait of Hormuz


Iran fired over a dozen missiles and several drones at the United Arab Emirates on Monday, renewing attacks on the Gulf state for the first time since a fragile ceasefire took hold last month.

At the same time, the US military said it fired on Iranian forces in the Strait of Hormuz, and US President Donald Trump vowed that Iran would be “blown off the face of the earth” if it hit US ships in the area.

The Iranian attacks appeared to be in response to Trump’s latest efforts to reopen the strait — a critical waterway for global energy — after he launched a new plan to escort ships and restore traffic in the largely blocked waterway. The US military said two American-flagged merchant ships had successfully transited the strait on Monday as part of the new initiative.

The UAE Defense Ministry said its air defenses had engaged 15 missiles and four drones fired by Iran. Authorities in the eastern emirate of Fujairah said one drone sparked a fire at a key oil facility, wounding three Indian nationals. The British military reported two cargo vessels ablaze off the UAE.

Missile alerts were issued Monday urging residents to find shelter — the first such alerts since the ceasefire began nearly a month ago. Commercial planes bound for the UAE — home to the global travel hubs of Dubai and Abu Dhabi — turned around midair.

The country condemned what it called “renewed treacherous Iranian aggression” and called for an immediate halt to the attacks.

The extent of the attack on Fujairah was unclear, but it is the terminus of a pipeline the UAE has used to avoid shipping some of its oil through the strait. The emirate on the Gulf of Oman is home to extensive oil storage facilities and is the UAE’s main sea access outside the strait.

According to a source speaking to CNN, Israel’s Iron Dome missile system shot down one of the missiles fired at the Gulf state on Monday.

Israel deployed an Iron Dome battery along with troops who know how to operate the missile defense system to the United Arab Emirates to help Abu Dhabi fend off attacks from Iran during the war, an Israeli official and an Arab diplomat told The Times of Israel, confirming a report in the Axios news site.

The officials deny a separate report claiming that Israel also deployed its Iron Beam laser-based air defense system to Abu Dhabi, explaining that the technology is too sensitive for use abroad.

Amid Monday’s escalation in the Gulf, an Israeli military official said the IDF is “monitoring the situation and is on alert and at high readiness.”

“Our air defense systems and offensive capabilities are at a high level of readiness, which has not changed since the ceasefire [took effect],” the official said.

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Ideology And Miscalculation:


Ideology And Miscalculation: What Trump Doesn’t Understand About Iran And Bible Prophecy


This is not just another war in the Middle East. What we are watching right now is not simply a military campaign but something much larger unfolding, something that at the very least raises the question of the Lord’s providence moving in real time. How this moment ends will determine what comes next, not just regionally but globally. Right now, Israel and the United States, under Donald Trump, have inflicted serious damage on Iran’s military capabilities and its proxy network.

The United States and Israel have carried out a large-scale, coordinated military campaign against Iran, significantly degrading its leadership, military infrastructure, and strategic capabilities. Through thousands of strikes under operations Epic Fury and Roaring Lion, they eliminated key leaders, crippled Iran’s naval and air defense systems, reduced much of its missile capacity, and damaged major nuclear facilities like Fordow, Natanz, and Isfahan, setting the program back by an estimated one to two years.


 Despite major losses, Iran still retains key capabilities, including a stockpile of highly enriched uranium and the ability to threaten shipping in the Strait of Hormuz. The U.S. and Israel have avoided ground invasion and extensive destruction of civilian infrastructure, and although a ceasefire was put in place, the situation is still unstable.

Furthermore, just like Israel has degraded Hamas and dealt heavy losses to Hezbollah, the IRGC has been weakened by the U.S. and Israel. But they have not been eliminated, and that is the issue. The Iranian regime being dealt with is not simply political; it is ideological and religious at its core. If that is misunderstood, everything that follows will be miscalculated by President Trump.

If President Trump is in a position to deal with the Iranian regime, then the objective cannot be partial measures, temporary ceasefires, or political optics. The reality is that the IRGC is not a normal state actor. It operates with long-term Shia-Islamic ideological goals, and if it is left intact, it will regroup and seek retaliation against both Israel and the United States.

Biblical history shows that when threats like this are merely weakened rather than removed, they return later, often more aggressively, as evil Haman did against Israel in Persia. Remember, Haman was an Agagite, which likely meant that he descended from Agag, the king of the Amalekites.



So the issue isn’t just about the present conflict. It’s about what gets set up next from a prophetic perspective. This kind of unresolved hostility and regathering of power is exactly the kind of environment that could result in a larger coalition conflict down the road, often associated with what many refer to as the Psalm 83 Invasion and the Gog and Magog Invasion.

As Victor Davis Hanson has pointed out, Trump is surrounded by pressure from all sides—domestic politics, the midterms, international actors, intra-party divisions, and even competing voices within his own coalition. Iran understands this situation. They are not necessarily trying to win outright in the short term; they are trying to survive. They calculate that if they can drag the conflict out long enough, those political pressures will force a premature stop.

However, the fundamental problem that the United States and Israel face in dealing with Iran is not primarily military, political, or economic. It is theological. Specifically, it is rooted in the Twelver Shiʿa framework that forms how the Iranian regime understands reality, something the West consistently fails to grasp and is dangerously naïve about.



From that worldview, Iran is not simply another nation-state pursuing power, security, or prosperity. Since 1979, under the influence of Khomeini, the regime has operated with the belief that it has been chosen to prepare the way for the return of the Mahdi, the 12th Imam. This figure, believed to have entered a state of divine occultation in the 9th century, is expected to return during a time of global chaos to establish Islamic rule over the entire world.

That belief system changes everything.

It means that conflict is not something to be avoided at all costs. In many cases, it is something to be accelerated. Death, martyrdom, war, and instability are not viewed as setbacks but as instruments to bring about a divinely ordained outcome of the Mahdi’s return. From that perspective, Israel and the United States are not just geopolitical adversaries. They are spiritual warfare obstacles. Their very existence is seen as interfering with the timeline of the Mahdi’s return.

This is why traditional Western approaches collapse.

Negotiation, deterrence, economic pressure, and compromise all assume that the opposing side ultimately wants stability and survival. But if a regime believes that anarchy, confrontation, and even large-scale destruction serve a higher religious purpose, then those tools lose their effectiveness. 

Mutual assured destruction, which has historically restrained nuclear powers, does not operate in the same way if destruction itself is seen as a trigger for the Mahdi’s return and intervention.

Within this system, Iran’s foreign policy is not simply strategic. It is eschatological. The elimination of Israel, the United States, the takeover of the West, and the destabilization of the global order are not just political objectives; they are seen as steps toward preparing the world for the Mahdi’s return.

In that sense, the goal is not necessarily to win a conventional war in the immediate term. The goal is to create conditions so severe, so destabilizing, that they force a larger, decisive moment in which the Mahdi returns. You could describe it as a kind of “crisis escalation strategy,” where the expectation is that overwhelming conflict will trigger the final intervention from the Madhi they are waiting for.

This is why Israel and the United States frequently appear to be fighting a different kind of war than their adversary.

The West tends to think in terms of timelines, elections, economic impact, and negotiated outcomes. Iran, formed by this theological framework, can think in terms of generational struggle, sacrifice, and ultimate fulfillment. That mismatch leads to repeated miscalculations by Trump and Israel.


So the problem is not simply that Iran is aggressive. The problem is that it is operating from a worldview in which aggression, chaos, and even catastrophic conflict can be seen as necessary steps toward what it believes is a divinely promised future. Until that is fully understood, every strategy built on political logic alone is likely to fall short.

So if Iran’s regime is not decisively dismantled, its survival all but guarantees future conflict, not only from Iran itself but through its proxy network, including Hamas, Hezbollah, and the Houthis, which are used to destroy Israel and advance its eschatological objectives.

When you bring this into the biblical framework, the picture becomes even clearer. According to Bill Salus in his book Psalm 83: The Missing Prophecy Revealed – How Israel Becomes the Next Mideast Superpower, Psalm 83 describes an inner-ring coalition of Arab nations surrounding Israel. When those ancient names are mapped to modern regions, it is clear that many of these areas today harbor active Islamic terrorist organizations or networks that add to the ongoing conflict focused on Israel.

In Gaza and the Palestinian territories, groups such as Hamas, Palestinian Islamic Jihad, Fatah-linked brigades, Popular Resistance Committees, and newer networks like Lions’ Den operate.

In and around Saudi Arabia and the wider Arabian Peninsula, groups such as Al-Qaeda, Al-Qaeda in the Arabian Peninsula (AQAP), and smaller ISIS-linked cells have emerged over time.

In Egypt, particularly in the Sinai region, ISIS-Sinai Province and other Islamist factions have carried out insurgent activity.

In Lebanon, Hezbollah remains the dominant militant force. And in the regions corresponding to ancient Assyria, modern Syria and northern Iraq, there is a complex mix of ISIS remnants, Iranian-backed militias tied to the Islamic Revolutionary Guard Corps (IRGC), groups like Kata’ib Hezbollah and Harakat al-Nujaba, as well as Islamist factions such as Hay’at Tahrir al-Sham and other Al-Qaeda-linked elements.


The point is not that every one of these regions is controlled by militant groups, but that they collectively form a strategic arc of instability surrounding Israel. If these forces are not dismantled, they remain in place, regroup, and ultimately create the conditions for a wider regional conflict.



If that coalition attacks and is defeated, as Scripture indicates, the conflict does not end; it escalates. This is where Ezekiel 38 and 39 come into view, describing the Gog and Magog alliance, a wider, outer coalition of non-Arab powers that do not directly border Israel.

In modern terms, this includes Russia, Iran, Turkey, Sudan, and Libya, corresponding to the ancient names Magog, Rosh, Meshech, Tubal, Persia, Gomer, Togarmah, Ethiopia, and Libya. At that point, what began as a regional conflict becomes a global one. So this moment turns into a trigger point. If it is not finished decisively, it sets off a chain reaction of survival, regrouping, revenge, regional war, and ultimately global escalation.

Right now, the greatest risk for the United States and Israel is not defeat but stopping short. When everything is channeled through negotiation and deal-making, the tendency is to manage threats rather than eliminate them, and managing a threat like the Iranian regime all but guarantees it will return. 

When you zoom out further, Europe is weakening. Its unity is fragile, its determination is limited, and its ability to act decisively is diminishing. Without U.S. leadership, NATO becomes largely symbolic, and when a larger conflict comes, these structures will not hold.

This is not the end. This is the setup for what Scripture indicates will unfold in the last days.



What Happens Next? Now That The Ceasefire Is Dead, It Appears That Everybody Is Ready To Make A Big Move


What Happens Next? Now That The Ceasefire Is Dead, It Appears That Everybody Is Ready To Make A Big Move
Michael Snyder



In just the last 24 hours, the ceasefire with Iran has ended, fighting has erupted once again in the Strait of Hormuz, six Iranian fast attack boats have been sunk, and one of the most important oil facilities in the United Arab Emirates has been seriously damaged. President Trump appears to be extremely determined to start getting the commercial vessels that have been trapped in the Persian Gulf for weeks through the Strait of Hormuz. But the Iranians are extremely determined to prevent that from happening. In fact, the Iranians are telling us that any U.S. ships that attempt to approach the Strait of Hormuz will be targeted

US forces will be targeted if they advance in the Strait of Hormuz, Hezbollah-affiliated Al-Mayadeen reported, citing a high-ranking Iranian source.

“The Strait of Hormuz is entirely under Iranian control, and this is a very clear message from the armed forces to the Americans,” the source said.

“The message to the American aggressors is: Advance, and you will be targeted,” the source added.


In addition, the Iranians are using the term “asymmetric operations” to warn us about what will happen if the conflict escalates…


Ali-Akbar Ahmadian, a member of Iran’s Defense Council, warned that any US action targeting shipping or energy would be met with the Islamic Republic’s “asymmetric operations.”

What do they mean by that?

Do the Iranians have weapons that they have not used yet and that we do not know about?

What we do know is that the Iranians just attacked a very important oil facility.

The Fujairah oil terminal is the endpoint of the Habshan–Fujairah oil pipeline. It is the only Hormuz bypass in the entire UAE…

This pipeline was built specifically so the UAE could export oil without

transiting the Strait of Hormuz. Iran is not just hitting a coalition partner.


They are targeting the infrastructure that lets oil flow without Hormuz. The only other major Hormuz bypass is Saudi Arabia's East-West pipeline to Yanbu, which was attacked in April and lost approximately

700,000 barrels per day of throughput.


Iran's message is clear. If they cannot export through Hormuz, nobody

bypasses it either.


The Iranians knew exactly what they were doing when they struck that facility.

They want all UAE oil to have to travel through the Strait of Hormuz.

UAE officials are furious, and we are being told that they intend to strike back

A senior UAE official told Israel the country did not intend to remain silent about the attacks, Israel’s Channel 12 reported.

“The Iranian regime has begun attacking us – we will strike back,” the official said, according to Channel 12.


We have sold dozens of highly advanced fighter jets to the UAE over the years.

I wouldn’t be surprised if they launch an attack without even waiting for the U.S. to join them.

As for President Trump, it appears that he may be getting ready to make a big move too.

On Monday, he told reporters that if Iran insists on trying to interfere with Project Freedom, they will get “blown off the face of the Earth”

President Trump told Fox News reporter Trey Yingst on Monday that if Iran targets U.S. ships in the Strait of Hormuz during Project Freedom, they will be “blown off the face of the Earth,” according to Yingst.

A clip of Yingst delivering a report on his phone conversation with the president on Fox News was shared by an official White House social media account.



Of course once the U.S. resumes bombing Iran, the Israelis will too.

In fact, one Israeli official just admitted that the IDF is prepared to start conducting strikes in Iran again “immediately”

Israel is ready to resume attacks on Iran “immediately”, an Israeli official has warned.

Speaking on News 14, an anonymous official said: “We’re ready to resume fighting in Iran immediately; we’re waiting for the green light from the Americans.”

Israel’s military is closely monitoring the developments in the Gulf and remains on high alert, according to a military official who spoke on the condition of anonymity in line with military guidelines.


Meanwhile, the ceasefire in Lebanon has completely broken down and the IDF is hitting Hezbollah quite hard



Israel Defense Forces (IDF) said Monday that troops uncovered explosive devices and anti-tank missiles at a Hezbollah weapons facility, as operations continued against the group’s infrastructure.

“IDF troops inside a Hezbollah weapons storage facility prior to its dismantling, where dozens of explosive devices and anti-tank missiles were located,” the IDF said in a post shared on X.

“In addition, several weapons storage facilities were dismantled, and about 15 Hezbollah infrastructure sites were struck,” the force said.


We are also witnessing a stunning deterioration in our relations with China.

According to Newsweek, companies in China have been ordered “to defy U.S. sanctions over refineries linked to Iranian oil”

Beijing has ordered Chinese companies to defy U.S. sanctions over refineries linked to Iranian oil, in a challenge to U.S. efforts to extract further concessions from Iran in negotiations for a lasting ceasefire.

The unprecedented move sets the stage for a potential showdown just days before President Donald Trump’s highly anticipated state visit to Beijing.

China has regularly condemned unilateral sanctions by the U.S. and others, criticizing them as a form of “long-arm jurisdiction” used to enforce domestic laws extraterritorially. However, the Ministry of Commerce’s Saturday announcement marked the first time Beijing has explicitly directed its firms to defy such measures.


This is a really big move by China, and it puts the communist Chinese government on a direct collision course with the Trump administration.


If Iran uses anti-ship missiles provided by China to sink U.S. warships, that could lead to war between the United States and China.