Health
The FDA approved Moderna’s mRNA influenza vaccine. However, briefing documents showed a 75.3% rate of adverse reactions and severe systemic reactions occurring four times more often than with conventional shots, according to Dr. Peter McCullough. Dr. Meryl Nass stated that the product, branded mFLUSIVA, advanced after the departure of Vinay Prasad and that the agency used an accelerated pathway. She argued the vaccine should be regulated as gene therapy. Mainstream trial reports indicated serious adverse events were balanced between groups, and the FDA’s Vaccines and Related Biological Products Advisory Committee voted that benefits outweigh risks.
Stanford researchers reported in Science that generative AI models Evo 1 and Evo 2 produced 16 functional virus genomes out of 302 designs. Johns Hopkins scientists Thomas Inglesby and Moritz Hanke wrote that viruses with disease potential should not be created. Senior author Brian Hie disclosed Gates Foundation funding. Epidemiologist Nicolas Hulscher noted 67 to 392 nucleotide changes from natural sequences and called for a halt to such work. Researchers highlighted potential applications in phage therapy for antibiotic-resistant infections.
Energy
US imports of Saudi Arabian crude fell to zero for July, the first such month since 1985, according to preliminary Department of Energy data. Refiners had imported more than 800,000 barrels per day earlier in the year. Venezuela became the largest supplier, with imports reaching roughly 600,000 barrels per day. Phillips 66 CEO Mark Lashier stated that Middle Eastern crudes now account for less than 1% of his company’s feedstock. Kpler forecasts Saudi volumes rising to about 300,000 barrels per day this month.
Goehring & Rozencwajg stated that US crude and product stocks have drawn roughly 200 million barrels since March and that Cushing inventories stand at operational minimums. They attributed continued market calm to a 90-day reporting lag, a one-time release of tankers after the June US-Iran MOU, and analysts mistaking lower refinery runs for lower demand. Air travel rose 5% year-over-year, and the WTI crack spread reached $60 per barrel.
Gail Tverberg of Our Finite World wrote that energy affordability, not scarcity, limits consumption. She identified three prior periods of weak energy growth that coincided with debt stress or conflict and noted that global car sales peaked in 2017 while US new-home sales in 2025 remain 53% below the 2005 peak.
Geopolitics
The Senate passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 by an 86-11 vote. The bill authorizes tariffs of up to 100% on the largest buyers of Russian energy and expands sanctions on Russian and Iranian entities.
Saudi Arabia, Turkey, and Pakistan signed the Makkah Joint Defense Agreement. The pact treats an attack on one signatory as an attack on all, similar to NATO. Iran stated via Tasnim that the agreement would not increase Saudi security. Saudi officials described the pact as focused on defensive readiness and not threatening any country. However, recent reports suggest the IRGC, Houthis, and Iraqi militias are preparing strikes on Saudi infrastructure.
Economy
Regarding the US Treasury’s recent sale of euros to purchase yen, senior ECB officials described the transaction as a breach of prior practice because the ECB was not notified in advance. Commentary on the trade stated that the action aimed to reduce pressure on Japanese holders of US Treasuries. Ed Dowd wrote that the move and the expanded Foreign and International Monetary Authorities (FIMA) repo facility function as temporary support and that further yen strength could trigger carry-trade unwinds.
Sources
Saudi Oil to US Hits Zero as Refiners Pivot to Venezuela Amid Hormuz Chaos
US imports of Saudi Arabian oil dropped to zero in July, the first time that’s happened for an entire month since 1985.
Source (Paywalled)
FDA Approves Moderna’s mRNA Flu Vaccine Despite 75% Adverse Reactions
FDA Approves Moderna’s mRNA Influenza Vaccine Despite 75.3% Rate of Adverse Reactions
AI Designs Functional Viruses From Scratch in Lab First
It is the first time whole genomes have been successfully designed by AI.
Source | Submitted by Chris Martenson
Affordability, Not Scarcity, Is the Real Energy Crisis
low demand (affordability) has repeatedly produced financial crashes, wars, and collapses. We appear to be entering another such period.
Gates-Backed AI Designs First Synthetic Viruses, Raising Bioterror Fears
For the first time ever, scientists have used artificial intelligence to design complete viral genomes that were physically synthesized and turned into 16 new functional viruses capable of replicating.
Source | Submitted by richcabot
Moderna mRNA Flu Shot: FDA Loophole After Prasad’s Exit
mFLUSIVA is the mRNA vaccine that is probably the straw that finally led to the firing of Vinay Prasad at FDA.
Source | Submitted by westcoastjan
US Sells Euros Secretly to Prop Yen, Blindsides ECB to Shield Treasuries
The United States sold euros to buy yen without telling the ECB until after the trade was done.
Source | Submitted by Chris Martenson
Bessent’s Yen Band-Aid Buys Time but Ignores Japan’s Debt Trap
The move is a temporary Band-Aid at best and sharp yen strength can historically trigger carry-trade unwinds and risk-asset volatility, but it does not fix Japan’s structural debt or rate differentials.
Senate’s Posthumous Nod to Graham: New Russia Sanctions Bill Passes 86-11
The ‘breakthrough’ is largely the result of the death of Republican Sen. Lindsey Graham of South Carolina.
Saudi Arabia, Turkey, Pakistan Form ‘Islamic NATO’ Defense Pact
It is essentially a NATO-style agreement for the ‘Muslim world’ – given that it stipulates and formalizes that an armed attack on any of the countries will be treated as an attack against all of them.
Oil’s Phantom Glut: Why Bears Ignore the Coming Tank Bottoms
despite this potentially explosive backdrop, investors remain extremely bearish.
Iran Mocks Saudi’s “Paper” Pact as Futile Against Looming Attacks
Saudi Arabia must understand that a paper agreement with Türkiye and Pakistan will not bring them security, just as years of unilateral ‘feeding’ from the United States did not bring them security,
In addition to sources submitted by community members, the following were also used in the creation of this report: Reuters, NYT, Brian Hie, and Arab News.
by mike-from-jersey 
