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July 19, 2025

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Donald Trump filed a sweeping lawsuit against media magnate Rupert Murdoch, News Corp, Dow Jones, and two Wall Street Journal reporters on Friday, escalating the fallout from a story that detailed a risqué letter allegedly written by Trump to Jeffrey Epstein.

The suit, filed in federal court in southern Florida, accuses the Journal’s parent companies and Murdoch of assault, libel, and slander, according to court documents.

Specifics of the formal complaint are not yet public, but the legal action comes a day after the publication of a Wall Street Journal report that has reignited controversy over Trump’s ties to the disgraced financier.

WSJ report reveals provocative letter

On Thursday evening, the Wall Street Journal revealed it had reviewed a 2003 birthday letter from Trump to celebrate Epstein’s 50th birthday.

According to the report, the letter contained typed text bordered by a sketch of a naked woman, and concluded with Trump’s signature and a note: “Happy Birthday — may every day be another wonderful secret”.

The letter was reportedly part of an album compiled for Epstein by associates, including convicted sex offender Ghislaine Maxwell.

Trump calls letter “fake,” threatens lawsuit

In the hours before publication, Trump and his team repeatedly lobbied Murdoch, WSJ editor Emma Tucker, and News Corp CEO Robert Thomson to halt the story, calling the allegations “false, malicious, and defamatory”.

After the article appeared, Trump denounced the story on his Truth Social platform, insisting the letter was fabricated and that he never used such language or drew the illustration.

He warned he would “sue [Murdoch’s] ass off, and that of his third-rate newspaper.”

Murdoch and WSJ decline public comment

Spokespeople for Murdoch, News Corp, and Dow Jones declined to comment on the lawsuit or the report.

The White House also did not immediately respond to inquiries regarding the president’s reaction.

Broader context: Epstein fallout and DOJ memo

The lawsuit surfaces as the Trump administration works to manage repercussions from a recent Department of Justice and FBI memo that stated there is no substantiated “client list” linked to Epstein or credible evidence of blackmail involving prominent figures—a reversal from Trump’s prior pledges to release related files.

Attorney General Pam Bondi noted earlier in the year that a so-called “client list” was under her review, further fueling speculation and political tension.

Next steps in legal battle remain unclear

With the full details of Trump’s lawsuit under seal, it’s uncertain how quickly the case will move forward in Florida’s Southern District.

Legal experts say the high-profile legal standoff underscores the fraught relationship between Trump and Murdoch’s media empire.

The Wall Street Journal maintains it stands by its reporting, while Trump vows to pursue the matter in court, calling for Murdoch himself to testify.

The post Trump sues Murdoch and News Corp over Wall Street Journal’s Epstein report appeared first on Invezz

This opinion piece was submitted to the Investing News Network (INN) by Darren Brady Nelson, who is an external contributor. INN believes it may be of interest to readers and has copy edited the material to ensure adherence to the company’s style guide; however, INN does not guarantee the accuracy or thoroughness of the information reported by external contributors. The opinions expressed by external contributors do not reflect the opinions of INN and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

By Darren Brady Nelson

As an economist, I, perhaps somewhat sadly, have many economist friends. One of them recently alerted me to a post on X that was even a shock to me in the toxic 2020s. That being: “Almost all political donations by Fed employees go to one party. The Fed is already politicized.”

The post had a link to the data supporting this assertion, which was published at OpenSecrets. They are a “501(c)3” devoted to: “tracking money in US politics and its effect on elections and public policy.” Their theme is appropriately “Follow the Money,” as it is for this story.

Political money contributions, since 2016, from those at the Fed, range between 92 to 93 percent for Democrats and 8 to 9 percent for Republicans. As Public Choice economics teaches, it is crucial to “Follow the Money” in politics. Austrian and Chicago schools of economics teach the same for gold.

Gold pricing 101

Gold pricing is often characterized as being driven by “fear and uncertainty,” at least in the short run, including geopolitical fears like war and economic uncertainties such as recession. It is also typically recognized to be an “inflation hedge,” in the long run anyway.

Gold is an asset with a price determined in a 24/7/365 global auction, most often quoted per troy ounce, in the world’s reserve currency of US dollars. New supply plays an unusually small role compared to almost all other commodities, goods or services. Thus, highest bid wins.

Perhaps none of these things about gold, and its price, are new nor surprising. But what might be, despite the end of the gold standard in 1971 and legalization of gold investment in 1974, is that gold is still a shadow currency to fiat ones, especially US dollar, in the ‘always run.’

The annual gold price from 1960 to 2024 is displayed below, as sourced from the World Bank. Rises include: late 1970s; late 2000s; and mid 2020s. Slides include: early 1980s; late 1990s; and early 2010s. Overall growth was: Sum 555 percent; Ave 8.7 percent; Max 98 percent; Min 24 percent; and CAGR 6.8 percent.

Gold yearly growth ($).

Source: World Bank.

Money supply 101

Gold is the inflation hedge, precisely because it is shadow currency. Money supply is the inflation source, precisely because it is fiat currency. As Chicago economist Milton Friedman wrote in Money Mischief (1994): “In the modern world, inflation is a printing-press phenomenon.”

There are multiple money supply measures, such as M0, M1, M2 and M3. M1 includes paper and coin currency held by the general public as well as liquid bank deposits (e.g. checking accounts). M3 includes M1, plus less liquid bank deposits (e.g. savings accounts) as well as “repos.”

Austrian economist Robert Murphy details in Understanding Money Mechanics (2021) just how the Fed’s printing, Treasury bonds and bank loans create US money supply, through open market operations. Since 2008 and 2020, the Fed has expanded to buying and selling just about anything.

Speaking on behalf of the Fed, and all major central banks, the Bank of England wrote in Money Creation in the Modern Economy (2014): “(B)ank lending creates deposits. At that moment, new money is created. (This is) ‘fountain pen money,’ created at the stroke of bankers’ pens(.)”

Annual M1 and M3 money supply from 1960 to 2024 are displayed below, as sourced from the OECD. M3 starts to take off from the mid 1990s. Both blast off in the early 2020s, M1 in part due to redefinition. Combined growth was: Sum 533 percent; Ave 8.3 percent; Max 126 percent; Min 6.4 percent; and CAGR 7.4 percent.

Money yearly growth ($).

Source: OECD.

Gold inflation 101

Christian economist Gary North points out in Honest Money (2011) that businesses have three choices in the face of money inflation: A) profit deflation; B) price inflation; C) quality shrinkflation. Investors have a fourth: D) gold inflation. A, B, and C are all bad options. D is good.

The chart below shows cumulative annual growth of gold versus M1 and M3. Gold performs and protects against both M1 and M3 from 1974 to 2019, even in 2001, but not against M1 from 2020 to 2024. In 2019, gold had a 150 percent lead on M1 and 92 percent on M3. By 2022, it shrunk to 110 percent and 80 percent.

Cumulative yearly growth (percent).

Sources: OECD and World Bank.

A 2020 regression study found: “When the Federal Reserve increases money supply by 1%, gold prices increase by 0.94%.” A 2023 academic paper: “Confirms a long-term relationship between gold price and US M2.” Note that M1’s 2021 redefinition has now made it nearly identical to M1.

Period yearly change (percent).

Sources: OECD and World Bank.

However, the authors of Austrian School for Investors (2015) wrote: “Gold does not correlate with the rate of inflation as such, but with the rate of change of the inflation rate. In order to buttress this hypothesis, we calculated the regression depicted in (the chart below).”

Source: Austrian School for Investors: Austrian Investing between Inflation and Deflation.

In conclusion, as per my Wokenomics 101 (2023) ghost blog, money inflation by: “increasing demand puts upward pressure on price and quantity and downward pressure on quality.” That puts upward pressure on: nominal CPI and GDP statistics; as well as real gold investment and price.

Inflation doesn’t harm all. It helps some. They are the “Bootleggers and Baptists,” as Public Choice economist Bruce Yandle dubbed them in 1983. Bootleggers are crony capitalists, politicians and bureaucrats whose inflated revenue outpaces costs. Baptists are the “useful idiots.”

Thus, “Follow the Money” back to the “inflationistas” of: Big Business; Big Government; and Big Banks. All gain supernormal profits from easy money: one, making more money; two, collecting more money; and three, creating more money. Also, “Follow the Money” when it comes to gold.

And, sadly, there is one policy that is always bipartisan; print more money. But, gladly, gold will always win.

About Darren Brady Nelson

Darren Brady Nelson is chief economist with Fisher Liberty Gold and policy advisor to The Heartland Institute. He previously was economic advisor to Australian Senator Malcolm Roberts. He authored the Ten Principles of Regulation and Reform, and the CPI-X approach to budget cuts.

This post appeared first on investingnews.com

President Donald Trump said Wednesday that Coca-Cola in the United States will begin to be made with cane sugar, but the company did not explicitly say that was the case when it was asked later about Trump’s claim.

Trump said Wednesday afternoon on Truth Social that he had been speaking to Coca-Cola about using cane sugar in the sodas sold in the United States and that the company agreed to his idea.

‘This will be a very good move by them — You’ll see. It’s just better!’ Trump wrote in the post.

But Coca-Cola did not commit to the change when NBC News asked it later about Trump’s post.

‘We appreciate President Trump’s enthusiasm for our iconic Coca-Cola brand,’ a company spokesperson said in a statement. ‘More details on new innovative offerings within our Coca-Cola product range will be shared soon.’

Donald Trump drinks a Diet Coke during the ProAm of the LIV Golf Team Championship at Trump National Doral Golf Club, on Oct. 27, 2022, in Doral, Fla.Lynne Sladky / AP file

It remains unclear whether Coca-Cola agreed to Trump’s proposal or whether the beloved soda will still be made with corn syrup.

The Trump administration’s Make America Healthy Again initiative, named for the social movement aligned with Health Secretary Robert F. Kennedy Jr., has pushed food companies to alter their formulations to remove ingredients like artificial dyes.

Coca-Cola produced for the U.S. market is typically sweetened with corn syrup, while the company uses cane sugar in some other countries, including Mexico and various European countries.

Coca-Cola announced in 1984 it was going to “significantly increase” the amount of corn syrup it was using in its U.S. products, The New York Times reported at the time.

Coca-Cola said it would use corn syrup to sweeten bottled and canned Coke, as well as caffeine-free Coke, but left itself “flexibility” to use other sweeteners, like sugar or high-fructose corn syrup, the Times reported.

Kennedy has criticized how much sugar is consumed in the American diet and has said updated dietary guidelines released this summer will advise people to ‘eat whole food.’

Trump has been known to enjoy Coca-Cola products. The Wall Street Journal reported that a Diet Coke button, which allows him to order the soda on demand, has joined him in the Oval Office for both of his terms.

This post appeared first on NBC NEWS

Slovenian lawmakers became the first Eastern European country to legalize a law on Friday to allow medically-assisted suicide for terminally-ill adults, in a shift in regional end-of-life policy. 

The country’s lawmakers passed the bill following a closely watched parliamentary vote with 50 votes in favor, 34 against and three abstaining. The vote also focused on a national referendum demanding expanded end-of-life rights. 

The legislation comes after a consultative referendum last year in which 55% of voters supported the right to end-of-life autonomy. While the move is being praised as historic, the law’s implementation will not be immediate as the procedures and oversight mechanisms are still being developed.

The law applies to terminally ill adults who are experiencing unbearable suffering with no prospect of improvement. In order for candidates to qualify, they must be mentally competent and have already exhausted their available treatment options. Individuals suffering solely from mental illness will be excluded from eligibility. The patient has to provide informed, voluntary, and repeated consent. It is believed that the process may require evaluation by multiple medical professionals.

Although it is being hailed as a landmark move, it will not be immediately implemented as the detailed procedures and oversight mechanisms are still being finalized. 

‘This is a victory for compassion and dignity,’ said one lawmaker in support of the bill. A civil rights group opposed to the law referendum to overturn the measure.

A civil rights group opposing the new law pledged on Friday to seek public backing for a potential attempt to force a referendum on the measure.

Several other countries, including Canada, Germany, Belgium, Switzerland, the Netherlands, Australia and Colombia, have legalized the so-called death with dignity.

Last month, Britain’s parliament voted to legalize assisted dying, although the bill must still clear the upper chamber of parliament.

In the U.S., 11 states allow medical aid in dying: Delaware, California, Colorado, Hawaii, Maine, Montana, New Jersey, New Mexico, Oregon, Vermont and Washington. Lawmakers in some other states are considering similar legislation.

Washington, D.C., also permits physician-assisted suicide.

Reuters contributed to this report.

This post appeared first on FOX NEWS