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The silver price was on the rise once again this week — it surged past the US$67 per ounce level on Friday (December 19), hitting a new record before pulling back.

As for gold, it spent much of the period around the US$4,330 per ounce level, although it rose as high as US$4,360 on Thursday (December 18), approaching its own all-time high.

Investors were eyeing November US consumer price index (CPI) data, which came out on Thursday. It was up 2.7 percent year-on-year, while core CPI was measured at 2.6 percent.

Those figures were quite a bit lower than analysts’ estimates, and data collection issues caused by the US government shutdown have left market participants questioning the results.

Notably, Bureau of Labor Statistics officials had to make ‘certain methodological assumptions’ because the October CPI report was canceled entirely. The bureau also started November data collection later than usual, driving concerns about a rebound in numbers for December.

US jobs data for both October and November came out this week as well, showing that the unemployment rate for last month rose to 4.6 percent, the highest since 2021.

While 64,000 jobs were added in November, 105,000 were lost in October, and revisions took 33,000 jobs away from the months of August and September.

Outside US economic data, it’s worth noting that for silver there’s still a lot of focus on behind-the-scenes actions that could be impacting the price.

Here’s what Substack newsletter writer John Rubino had to say about that:

‘A lot of the discontinuities that we’re seeing in the silver market right now are due to the fact that the big exchanges like Comex may not have enough silver to satisfy the demands of futures contract holders.

‘In other words, there are a lot more people out there with long futures contracts that could come in and demand silver than there is silver to satisfy that demand. And the number of people who are standing for delivery on futures contracts is rising, and the amount of silver in these exchanges is shrinking.’

Bullet briefing — Platinum beats gold, copper hits new record

Platinum price on the move

I’d be remiss if I didn’t also take a moment to mention platinum.

While gold and silver have been making headlines, platinum’s 2025 rise has been quiet, but significant — it’s up over 100 percent year-to-date and nearly hit US$1,980 per ounce this week.

Platinum is somewhat similar to silver in that they both have precious and industrial sides, and they’ve both seen persistent deficits in recent years.

Platinum’s deficit has definitely helped it rise this year, but looking forward to next year the World Platinum Investment Council is expecting a balanced market. When I saw that, I wondered if that would mean lower prices in 2026. But that may not necessarily be the case.

Edward Sterck said there are a couple of nuances in the council’s outlook — for example, it’s anticipating profit taking from exchange-traded funds, but if that doesn’t happen, then the platinum deficit may persist. He also noted that balance in 2026 wouldn’t erase years of deficits:

‘A balanced market doesn’t solve for the fact we’ve had three years of deficits. It doesn’t in any way, I suppose, rebuild aboveground stocks. And it’s the shortage of aboveground stocks that seems to be one of the major catalysts behind this price action and behind the market tightness.’

Copper price hits new high

It’s not only precious metals that have been hitting new highs this year.

The price of copper has been climbing as well, hitting a new all-time high of close to US$12,000 per metric ton last week on the London Metal Exchange.

It’s pulled back slightly since then, but market watchers agree the copper outlook remains strong as rising demand meets constrained supply. In fact, I’ve been asking experts what they think the top-performing asset of next year will be, and copper has been a popular pick.

Lobo Tiggre of IndependentSpeculator.com chose the base metal as his highest-confidence trade of 2025, and he said he’s sticking with it next year.

Here’s what he had to say about copper:

‘Top pick for 2026 is copper. Similar reasons to 2025 —the copper price has been kicked around, up and down by what I think of as sort of extraneous issues. But the fundamentals mean the demand scenario just looks phenomenal, and the supply has been really constrained.’

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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FBI Director Kash Patel said Saturday the agency is ramping up its use of artificial intelligence (AI) tools to counter domestic and international threats.

In a post on X, Patel said the FBI has been advancing its technology, calling AI a ‘key component’ of its strategy to respond to threats and stay ‘ahead of the game.’

‘FBI has been working on key technology advances to keep us ahead of the game and respond to an always changing threat environment both domestically and on the world stage,’ Patel wrote. ‘Artificial intelligence is a key component of this.

‘We’ve been working on an AI project to assist our investigators and analysts in the national security space — staying ahead of bad actors and adversaries who seek to do us harm.’

Patel added that FBI leadership has established a ‘technology working group’ led by outgoing Deputy Director Dan Bongino to ensure the agency’s tools ‘evolve with the mission.’

‘These are investments that will pay dividends for America’s national security for decades to come,’ Patel said.

A spokesperson for the FBI told Fox News Digital it had nothing further to add beyond Patel’s X post.

The FBI uses AI for tools such as vehicle recognition, voice-language identification, speech-to-text analysis and video analytics, according to the agency’s website.

Earlier this week, Bongino announced he would leave the bureau in January after speculation rose about his departure.

‘I will be leaving my position with the FBI in January,’ Bongino wrote in an X post Wednesday. ‘I want to thank President [Donald] Trump, AG [Pam] Bondi, and Director Patel for the opportunity to serve with purpose. Most importantly, I want to thank you, my fellow Americans, for the privilege to serve you. God bless America, and all those who defend Her.’


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President Trump is rightfully angry that some of his top choices for U.S. attorneys in Democrat-controlled states are being blocked by Democrats and their leftist allies in the judicial branch. But the recent attacks from some supporters of the president against Sen. Chuck Grassley, Trump’s most effective ally in the Senate, are misplaced.

To start, remember who Grassley is. He’s a dignified statesman but also a shrewd legislator, fearless investigator and Senate workhorse. He doesn’t chase the limelight but quietly puts one win after the other on the scoreboard for Trump and his MAGA agenda.

This isn’t bluster. Trump appointed three Supreme Court justices, and two were carried squarely on the shoulders of Grassley, who chairs the Senate Judiciary Committee. He stopped former President Barack Obama from filling a Supreme Court seat with Merrick Garland, Joe Biden’s anti-Trump lawfare-supporting AG, enabling Trump to install Justice Neil Gorsuch instead. And when Democrats tried to ruin Justice Brett Kavanaugh’s life and derail his nomination, it was Grassley’s steady hand that guided Kavanaugh through the partisan spectacle, shut down the lies and got him confirmed.

Grassley’s done more than anybody in Congress to expose partisan lawfare against Trump. It’s thanks to Grassley that we know of the existence of Arctic Frost, Jack Smith and the Biden FBI’s demented campaign to put Trump behind bars and make any Republican that so much as breathed a subject of a criminal investigation. 

Whistleblowers at the FBI knew they could only trust one man to bring these damning details to light: Chuck Grassley. Now we know the Biden Justice Department and complicit judges spied on Republican members of both the House and the Senate and sought records for hundreds of other MAGA patriots, many of whom are a part of Trump’s administration today, like Dan Scavino, Peter Navarro and Harmeet Dhillon, who Grassley led to confirmation as Judiciary Committee chairman.

In fact, Grassley is literally breaking his own records when it comes to Senate confirmations. He’s processing and confirming judges at a rate faster than in Trump’s first administration, when Grassley was also Judiciary chairman. He navigated the vicious onslaught to confirm Judge Emil Bove, flipping the 3rd Circuit to majority Republican appointees. He bulldozed opposition and confirmed Attorney General Pam Bondi, FBI Director Kash Patel and other Justice Department leaders. 

He’s also processing U.S. attorneys through his committee faster than Democrats did during the Biden administration. And he’s doing it all while leading the charge against judicial activism and unconstitutional universal injunctions. And the billions of dollars the administration received in Trump’s One Big Beautiful Bill to secure our border and lock up dangerous criminals? Those border security provisions were written by none other than — you guessed it — Chuck Grassley.

We’re on pace to see the same number of attorney confirmations by year’s end as in Biden’s first year. But a few of his top choices — friends of mine and fellow warriors like Alina Habba and Lindsey Halligan— have been stopped by Democrats using a century-old ‘blue slip’ rule.

Sideline commentators and keyboard warriors seem to think Grassley could just bang his chairman’s gavel and make the blue slip go away. But is Grassley, the man who’s done so much for Trump, really sandbagging these nominees? The answer, for those who care to actually do their homework, is no.

The blue slip should go, but Grassley can’t just make it happen alone. He needs votes to advance nominees, and he doesn’t have them without blue slips. Months ago, Sen. Thom Tillis, R-N.C., stated unequivocally on the Senate floor he wouldn’t confirm nominees without one. Sen. John Kennedy, R-La., echoed this. That ends the conversation. Without the vote of either of these two members of the Judiciary Committee, nominees fail, regardless of Grassley’s actions.

And Tillis and Kennedy are hardly alone. Senators, both Republican and Democrat, won’t soon give up this power. All 100 senators prioritize having a say in who gets to be a judge or prosecutor in their state over letting the president decide who serves in other states. That’s why Democrat Dick Durbin couldn’t get rid of the blue slip when he chaired the Judiciary Committee during the Biden administration, even though progressive activists and their media allies begged him to do it.

Senators also won’t get rid of the blue slip because they know it benefits them when they’re in the minority. Republicans used the blue slip to block Biden from appointing nearly 30 district judges, and, so far, Trump has nominated 15 bold constitutionalist judges to fill the seats that Republicans held open.

I don’t like blue slips, but I live in the real world. I can count votes, and I know blue slips aren’t going away. As the Senate Judiciary Committee’s chief counsel for nominations, working for Grassley in Trump’s first term, I helped end blue slips for circuit judges because their jurisdictions cover multiple states and therefore their fates obviously shouldn’t be determined by a single state’s senators. That was a major achievement, but the limit of what was possible for now.

Democrats will stop at nothing to evade accountability, and Trump shouldn’t let them. His administration should use every tactic to overcome obstruction and pursue lawfare perpetrators. He’s right to want the blue slip’s end. But the Senate simply won’t deliver it this Congress as the votes don’t exist, and the president’s public outrage unfortunately hasn’t moved the needle yet.

As I’ve said before, to abolish the blue slip, the administration must build support by securing commitments from at least 50 Republican senators, including every Senate Judiciary Republican, to vote for nominees without blue slips. Grassley wants Trump’s nominees to succeed and knows the votes currently aren’t there for nominees who don’t have blue slips. Trump should trust his most effective Senate ally’s judgment. Grassley is a workhorse, not a showhorse. And Grassley has delivered more for Trump than any other senator.


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A woman whose concerns about Jeffrey Epstein were brushed off by the FBI three decades ago was vindicated Friday after the Department of Justice finally made her complaint public.

Maria Farmer’s complaint was buried in the thousands of files related to Epstein’s and Ghislaine Maxwell’s sex trafficking cases that the DOJ published as part of its obligations under the Epstein Files Transparency Act.

The document was dated Sept. 3, 1996, more than 10 years before Epstein first faced prosecution for sex crimes involving girls. In it, Farmer accused Epstein of stealing and selling photos of her young sisters. Farmer worked as an artist for Epstein and has long been outspoken about what she said was his abusive behavior.

Farmer has said the photos of her sisters cited in the 1996 complaint included nudity, and the complaint is labeled as a possible ‘child pornography’ case.

Names on the complaint were redacted, but The New York Times confirmed with Farmer that she was the one who filed it. Farmer told the outlet she felt ‘vindicated.’ 

‘I’ve waited 30 years. … I can’t believe it. They can’t call me a liar anymore,’ she said.

The complaint noted that Farmer was a professional artist whose work included the images of her then 12- and 16-year-old sisters.

‘Epstein stole the photos and negatives and is believed to have sold the pictures to potential buyers,’ the complaint stated. ‘Epstein at one time requested [redacted] to take pictures of young girls at swimming pools. Epstein is now threatening [redacted] that if she tells anyone about the photos he will burn her house down.’

Farmer and her sister Annie brought separate lawsuits in 2019 alleging Epstein and Maxwell sexually assaulted them, but the suits were dropped as part of a settlement involving accepting compensation from Epstein’s estate.

Farmer also sued the DOJ in July, alleging the Clinton administration FBI ‘chose to do absolutely nothing’ with her complaint in 1996, and that in the years since, Epstein was able to victimize more women. Farmer said she also complained again to the FBI in 2006 during the Bush administration.

Farmer’s complaint was among the tens of thousands of documents related to Epstein and Maxwell that the DOJ released on Friday, the transparency bill’s deadline. Other accusers, such as Marina Lacerda, have spoken out about their dissatisfaction with the file release, observing that it was incomplete and contained heavy redactions. The department has said more files are coming within the next two weeks.


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Preparations for the second phase of the Gaza ceasefire plan are underway, according to U.S. special envoy Steve Witkoff. The announcement comes after representatives from Egypt, Qatar and Turkey participated in high-level U.S.-led talks in Miami.

‘In our discussions regarding phase two, we emphasized enabling a governing body in Gaza under a unified Gazan authority to protect civilians and maintain public order,’ Witkoff wrote on X. ‘We also discussed regional integration measures, including trade facilitation, infrastructure development, and cooperation on energy, water, and other shared resources, as essential to Gaza’s recovery, regional stability, and long-term prosperity.

‘We reviewed next steps in the phased implementation of the Comprehensive Peace Plan for Gaza, underscoring the importance of sequencing, coordination, and effective monitoring in partnership with local Gazan institutions and international partners.’

In addition to looking forward to the next phase, the group reflected on the implementation of the first part of the ceasefire, which Witkoff said ‘yielded progress.’

During the first phase, humanitarian aid went into the Gaza Strip, hostilities were reduced and there was a partial withdrawal of Israeli forces. Additionally, all living hostages and most deceased hostages were released. The last remaining hostage is Ran Gvili, an Israeli police officer killed during the Oct. 7, 2023, attacks.

The U.S.-led talks on the second phase of the plan were proceeded by a similar meeting in Cairo, which reportedly included Turkey and Egypt’s intelligence chiefs, as well as Qatar’s prime minister.

‘During the meeting, [they] also agreed to continue strengthening coordination and cooperation with the Civil Military Coordination Center to eliminate all obstacles to ensure the continuity of the ceasefire and to prevent further violations,’ a Turkish source told Reuters, adding that they also discussed countering alleged Israeli ceasefire violations.

The second phase of the deal involves the deployment of an international stabilization force and the development of an international body to govern Gaza. It also includes the disarmament of Hamas. Additionally, Israel will move further from the so-called ‘yellow line’ ahead of the international force taking over, according to The Times of Israel.


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A bipartisan Obamacare fix remains out of reach in the Senate, for now, and lawmakers can’t agree on who is at fault. 

While many agree that the forthcoming healthcare cliff will cause financial pain, the partisan divide quickly devolved into pointing the finger across the aisle at who owns the looming healthcare premium spikes that Americans who use the healthcare exchange will face. 

Part of the finger-pointing has yielded another surprising agreement: Lawmakers don’t see the fast-approaching expiration of the Biden-era enhanced Obamacare subsidies as Congress failing to act in time.

‘Obviously, it’s not a failure of Congress to act,’ Sen. Chris Murphy, D-Conn., told Fox News Digital. ‘It’s a failure of Republicans to act. Democrats are united and wanting to expand subsidies. Republicans want premium increases to go up.’

Senate Republicans and Democrats both tried, and failed, to advance their own partisan plans to replace or extend the subsidies earlier this month. And since then, no action has been taken to deal with the fast-approaching issue, guaranteeing that the subsidies will lapse at the end of the year.

A report published last month by Kaiser Family Foundation, a nonprofit healthcare think tank, found that Americans who use the credits will see an average increase of 114% in their premium costs.

The increase can vary depending on how high above the poverty level a person is. The original premium subsidies set a cap at 400% above the poverty level, while the enhanced subsidies, which were passed during the COVID-19 pandemic, torched the cap.

For example, a person 60 years or older making 401% of the poverty level, or about $62,000 per year, would on average see their premium prices double. That number can skyrocket depending on the state. Wyoming clocks in at the highest spike at 421%.

In Murphy’s home state of Connecticut, premiums under the same parameters would hike in price by 316%.

‘When these do lapse, people are going to die,’ Murphy said. ‘I mean, I was talking to a couple a few months ago who have two parents, both with chronic, potentially life-threatening illnesses, and they will only be able to afford insurance for one of them. So they’re talking about which parent is going to survive to raise their three kids. The stakes are life and death.’

Both sides hold opposing views on the solution. Senate Republicans argue that the credits effectively subsidize insurance companies, not patients, by funneling money directly to them, and that the program is rife with fraud.

Senate Democrats want to extend the subsidies as they are, and are willing to negotiate fixes down the line. But for the GOP, they want to see some immediate reforms, like income caps, anti-fraud measures and more stringent anti-abortion language tied to the subsidies.

Sen. Rick Scott, R-Fla., who produced his own healthcare plan that would convert subsidies into health savings accounts (HSAs), argued that congressional Democrats ‘set this up to expire.’

But he doesn’t share the view that the subsidies’ expected expiration is a life-or-death situation.

‘I’m not taxing somebody who makes 20 bucks an hour to pay for healthcare for somebody who makes half a million dollars a year, that’s what they did,’ he told Fox News Digital. ‘All they did was mask the increase in healthcare costs. That’s all they did with it.’

Sen. Jim Banks, R-Ind., similarly scoffed at the notion, and told Fox News Digital, ‘The Democrat plan to extend COVID-era Obamacare subsidies might help less than half a percent of the American population.’

‘The Republican plan brings down healthcare costs for 100% of Americans,’ he said. ‘More competition, expands health savings accounts. That needs to be the focus.’

Democrats are also not hiding their disdain for the partisan divide between their approaches to healthcare.

Sen. Brian Schatz, D-Hawaii, told Fox News Digital that the idea that this ‘is a congressional failure and not a Republican policy is preposterous.’

‘They’ve hated the Affordable Care Act since its inception and tried to repeal it at every possible opportunity,’ he said, referring to Obamacare. ‘The president hates ACA, speaker hates ACA, majority leader hates ACA, rank-and-file hate ACA. And so this is not some failure of bipartisanship.’

While the partisan rancor runs deep on the matter of Obamacare, there are Republicans and Democrats working together to build a new plan. Still, it wouldn’t deal with the rapidly approaching Dec. 31 deadline to extend the subsidies.

Senate Majority Leader John Thune, R-S.D., predicted that the Senate would have a long road to travel before a bipartisan plan came together in the new year, but he didn’t rule it out.

‘It’s the Christmas season. It would take a Christmas miracle to execute on actually getting something done there,’ he said. ‘But, you know, I think there’s a potential path, but it’ll be heavy lift.’


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From a distance, Margarita Island looks like a Caribbean escape. Palm-lined beaches, duty-free shops, and resort towns sell the image of a tropical playground just off Venezuela’s northeastern coast. But U.S. officials say the Venezuelan outpost has become something else entirely: Hezbollah’s most important base of operations in the Western Hemisphere, strengthened by Iran’s growing footprint and the Maduro regime’s protection.

That threat, U.S. officials warn, reflects a broader security challenge emerging from the region. ‘The single most serious threat to the United States from the Western Hemisphere is from transnational terrorist criminal groups primarily focused on narcotrafficking,’ Secretary of State Marco Rubio said at an end-of-year press conference at the State Department on Friday.

‘Margarita Island might be of significance to the U.S. because of its location and the security dynamics around it,’ Melissa Ford Maldonado, director of the Western Hemisphere Initiative at the America First Policy Institute, told Fox News Digital. ‘It is close to Trinidad and Tobago and Grenada, in an oil-rich part of the Caribbean along key maritime routes, and it has long had a reputation for being a major drug-trafficking hub, possibly because it’s off the mainland and there’s not a lot of law enforcement there.’

The island’s isolation, she said, has made it attractive to ‘irregular armed groups, foreign intelligence actors and criminal networks that use it as a departure point for boats carrying illicit shipments out of Venezuela.’

Marshall Billingslea, the former assistant secretary for Terrorist Financing and Financial Crimes in the U.S. Treasury Department, said Margarita Island now serves as Hezbollah’s key foothold in the Western Hemisphere.

‘From what I have seen and what I have been told, there is a wide range of activities that Hezbollah and to some extent Hamas are engaged in,’ Billingslea told Fox News Digital. ‘Margarita Island is really the center of gravity for their activities.’

In written testimony submitted to the Senate Caucus on International Narcotics Control for an Oct. 21 hearing, Billingslea traced the island’s transformation back more than two decades. Under Hugo Chávez, he wrote, Venezuela ‘opened its doors to Hezbollah, allowing the group to establish a major footprint, including a paramilitary training site, on Margarita Island.’

‘When Nicolás Maduro seized power,’ Billingslea added, ‘the breadth and depth of Hezbollah’s presence in Venezuela dramatically expanded, as did their ties to the narco-terrorist regime and the Cartel de los Soles.’

‘The relationship is very close with the Cartel de los Soles, and it has been so for many, many years,’ Billingslea said, referring to the network of senior Venezuelan officials accused by the United States of drug trafficking.

Billingslea said Hezbollah has embedded itself into Margarita Island’s economy, exploiting the island’s duty-free status and cross-border access to Colombia to generate revenue through smuggling and drug importation. He said the group operates a wide range of companies on the island and also maintains several training camps there.

His testimony also detailed how Venezuela’s state apparatus helped embed Hezbollah inside the country. He wrote that former senior official Tareck El Aissami, while overseeing Venezuela’s passport and naturalization agency, ‘was instrumental in furnishing passports and citizenship documents to Hezbollah operatives as well as a large number of people from Lebanon, Syria, and Iran.’ Between 2010 and 2019, Venezuelan authorities issued more than 10,400 passports to individuals from those countries, according to the testimony.

A May 27, 2020, Justice Department announcement alleged that Diosdado Cabello directed Venezuelan lawmaker Adel El Zabayar to travel to the Middle East to obtain weapons and recruit members of Hezbollah and Hamas for training at clandestine camps inside Venezuela. The filing also describes a subsequent weapons delivery at a hangar controlled by Maduro at the country’s main international airport.

Recent developments in the Middle East have only increased Margarita Island’s importance, Billingslea said. Israel’s campaign against Hezbollah in Lebanon has damaged the group’s military leadership and financial infrastructure, forcing it to rely more heavily on overseas networks.

‘Israeli successes against Hezbollah in Lebanon in particular, including their strikes on the financial infrastructure Al-Qard al-Hassan that operates in Lebanon, are going to have two effects,’ he said. ‘The first is that it is making the fundraising and the revenue generation that comes out of Latin America even more important to the terrorist group. Secondly, we have seen indications that Hezbollah actually has been relocating fighters from Lebanon, several hundred from Lebanon to Venezuela in particular.’

Asked whether that shift moves the threat closer to the United States, Billingslea said Hezbollah is now operating ‘close to the U.S. and further away from the Israelis.’

He said Iran’s role in Venezuela has deepened alongside Hezbollah’s. ‘There is a substantial Iranian footprint in Venezuela related to the trade of weapons and drones, in particular, for gold,’ he said. After suffering losses in the Middle East, he added, ‘the Iranians find themselves even more dependent on that supply of gold in exchange for drones and weapons.’

He said Washington faces a strategic choice. ‘I think the United States has positioned sufficient forces in the Caribbean at this time to take care of the Hezbollah threat,’ he said. ‘But obviously, when you have a terrorist group that has merged into the local population, highly precise intelligence is needed. I believe the Venezuelan opposition possesses a great deal of that intelligence, though it is not clear to me that the United States government is making the best use of that access.’

For Billingslea, the conclusion is cleaner — eliminating Venezuela’s narco-terrorist regime would significantly strengthen U.S. national security.


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It’s not just Minnesota.

The past few weeks have made clear that fraudsters stole billions of dollars from states’ welfare programs, much of it from Medicaid. It also appears that Democratic politicians tolerated the heist for their own political benefit. 

Yet politicians in virtually every state have let waste, fraud and abuse spread like wildfire in Medicaid, putting taxpayers on the hook for an estimated $2 trillion in improper spending over the next decade alone. 

Thankfully, President Donald Trump and congressional Republicans have given states a reason to clean up this mess and spare taxpayers that pain.

In a new paper, I show how Democrats have turned Medicaid into one of the most fraud-ridden programs in America — and how Republicans are fixing it. While Medicaid has long been plagued with improper spending, Democrats supercharged this crisis in the Obama years.

ObamaCare added tens of millions of able-bodied adults to the program, yet that population is much more likely to be ineligible.

The Obama administration refused to rigorously check eligibility, and the Biden administration adopted the same policy, deliberately hiding an explosion in waste, fraud and abuse. Meanwhile, states refused to police their Medicaid programs, confident that the federal government would look the other way and cover the tab.

Minnesota charges six more people in massive fraud scheme

The first Trump administration found that 27.4% of federal Medicaid spending was improper in 2020, or about $120 billion at the time. The administration also found that four out of every five improper payments were the result of eligibility errors. This money flowed to people who shouldn’t have been on Medicaid and therefore diverted money and care away from its intended recipients. Five years later, it’s highly likely that at least one in five Medicaid dollars is still wrongly spent.

Call this what it is — an assault on taxpayers. It’s also a clear violation of federal law. States are legally required to reimburse the federal government for Washington’s share of Medicaid payments if their improper payment rates are above 3%, a far cry from the 27.4% rate in 2020.

The Trump administration is once again conducting eligibility checks, but even without that info, it’s all but certain that every state already exceeds the 3% threshold. The only reason they’ve avoided a budget blowout is by receiving so-called ‘good faith waivers’ from Washington. Essentially, states have promised that they’ll tackle fraud and abuse, even when they have no intention of doing so.

Republicans called time on this rigged game in the law President Trump signed July 4. They effectively eliminated good-faith waivers and told states that, starting in 2030, they will be forced to cover the federal share of any improper payments above 3%. While five years may seem like an eternity, it’s an acknowledgment that states have a mountain to climb to bring their error rates into the low single digits. 

Consider Ohio. In 2019, it had an improper payment rate of nearly 45%, giving the Buckeye State the worst record in the nation for waste, fraud and abuse. Based on its most recent spending levels, Ohio would be on the hook for $9.7 billion, equal to roughly 15% of its current state budget. Illinois, with a 35.4% rate, would pay $6.4 billion, a tough ask given the state’s famous fiscal woes. Even states with lower improper payment rates, like Pennsylvania, Michigan and Missouri, would still be looking at annual costs of more than $1 or $2 billion.

WATCH: Federal prosecutors reveal ‘staggering’ new information about Minnesota fraud scandal

Without reform, I estimate that states will pay a combined $100 billion in penalties beginning in 2030. Their only hope to avoid this fiscal pain is to immediately start rooting out waste, fraud and abuse. In the state legislative sessions that start in January, lawmakers should focus on several key reforms.

First, stop allowing Medicaid recipients to self-attest their income, address and other personal information. Using the honor system invites abuse.

Second, review recipients’ eligibility at least twice a year for able-bodied adults and once a year for everyone else, thereby removing ineligible individuals early and often.

Third, cross-check Medicaid data with easily accessible information such as wage, hiring and tax records; returned mail and changes of address; out-of-state food stamp transactions; and prison and death records. These basic good government measures can quickly identify people wrongly receiving taxpayer money.

Waiting to tackle Medicaid fraud is the most foolish thing states can do. So is hoping that Democrats get their wish and successfully repeal Republicans’ Medicaid reforms. That won’t happen while Trump is president. And if states wait to see the outcome of the 2028 election, they may be disappointed. At that point, they’d face an even steeper hill with barely a year to get their act together.

There’s no avoiding the reality that Democrats broke Medicaid — in Minnesota and everywhere else — or that Republicans have given states an urgent mandate to finally root out the waste, fraud and abuse.

 Michael Greibrok is a Senior Research Fellow at the Foundation for Government Accountability.


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As the world races to meet rising power demand driven by artificial intelligence and advanced computing, cleantech is stepping into a new era of opportunity.

Developing and scaling innovative energy technologies has never been more accessible or cost-efficient, thanks to breakthroughs in AI-driven design, automation and data analytics that are speeding up everything from materials science to grid optimization.

While US climate finance leadership appears uncertain, Canada is emerging as a strong contender for global influence, backed by supportive policy frameworks, abundant natural resources and a deep bench of innovation-focused companies.

Here’s a look at the best-performing Canadian cleantech stocks on the TSX 2025 by year-to-date gains. CSE-listed companies were considered, but none made the list at this time.

Data for this article was gathered on December 16, 2025, using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million were considered.

1. Anaergia (TSX:ANRG)

Year-to-date gain: 187.23 percent
Market cap: C$472.75 million
Share price: C$2.70

Anaergia is a global company that specializes in converting waste, including wastewater and agricultural and municipal solid waste, into renewable energy, clean water and organic fertilizer.

The company has operations in 17 countries spanning North America, Africa, Asia and Europe. In 2025, Anaergia has expanded its global reach through partnerships with companies in Italy and Spain, as well as through a partnership agreement to build a biogas facility in South Korea.

In July 2024, Anaergia closed the third tranche of a C$40.8 million investment deal with Marny Investissement that gave Marny a controlling interest of about 60 percent in Anaergia, supporting the company’s pivot to employ a greater focus on technology sales and operations and maintenance contracts.

The company’s September investor presentation highlights its new strategy of streamlined operations, expanding through global partnerships and selective Build-Own-Operate delivery.

In its Q3 2025 results, the company reported strong financials, with revenue increasing 77 percent year-over-year to C$51.4 million, gross margins expanding to 28.8 percent and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of C$2.6 million.

2. Tantalus Systems (TSX:GRID)

Year-to-date gain: 150.53 percent
Market cap: C$250.03 million
Share price: C$4.76

Tantalus Systems provides technology that gives utilities greater control and insight into their electric grids.

This includes advanced metering infrastructure (AMI), load management systems and grid analytics, all of which contribute to a more efficient and reliable power grid.

One of its key products, TRUConnect AMI, provides real-time data on energy consumption and grid conditions. The TRUFlex Load+DER Management system helps manage energy demand and integrate distributed energy resources like solar power, while TRUGrid Automation optimizes grid operations and improves response to events like power failures.

On July 7, Tantalus announced that it was extending its partnership with EPB in Chattanooga, Tennessee, to deploy 20,000 TRUSense Ethernet Gateways over the next five years, integrating with EPB’s fiber network to enhance grid modernization and operational efficiency.

The company’s annual recurring revenue has grown at an approximate compound annual growth rate of 18 percent since 2016, according to its October presentation.

Its Q3 revenue hit C$14.2 million, up 22.5 percent year-over-year, driven by growth of 30 percent in connected devices and 10 percent in software and services. Its adjusted EBITDA doubled year-over-year to C$1.2 million.

3. Ballard Power Systems (TSX:BLDP)

Year-to-date gain: 50.21 percent
Market cap: C$1.09 billion
Share price: C$3.65

Ballard Power Systems is a hydrogen fuel cell technology company that develops, manufactures and sells proton exchange membrane (PEM) fuel cell products that convert hydrogen into clean electricity with zero emissions. The company targets heavy-duty applications like buses, trucks, trains, marine vessels and stationary power.

Recent deals include a December memorandum of understanding with Kolon Industries for fuel cell components and market expansion and a May multi-year agreement for 50 fuel cell engines with Egypt’s MCV to power its intercity buses.

In Q3 2025, Ballard’s revenue surged 120 percent year-over-year to C$32.5 million led by bus and rail deliveries, with gross margins improving to 15 percent and cash reserves at C$525.7 million. The company also cut total operating expenses by 36 percent.

4. Algonquin Power & Utilities (TSX:AQN)

Year-to-date gain: 32.29 percent
Market cap: C$613 billion
Share price: C$8.48

Algonquin Power & Utilities operates regulated electric, water, wastewater and natural gas utilities across the US, Canada, Bermuda and Chile, alongside a retained Hydro Group after divesting its larger renewables business as part of its pure-play regulated utility pivot.

The company completed the sale of its renewable energy assets, excluding hydro, to LS Power in January 2025 for approximately US$2.5 billion. The company declared a Q4 2025 dividend of US$0.065 per common share.

5. Brookfield Renewable Partners (TSX:BEP.UN)

Year-to-date gain: 15.41 percent
Market cap: C$11.41 billion
Share price: C$38.27

Brookfield Renewable Partners owns and operates a global portfolio of hydroelectric, wind, solar and energy storage assets. It also offers sustainable solutions such as nuclear services and carbon capture. The company’s strategy emphasizes long-term power purchase agreements and asset recycling.

Major 2025 deals include a hydropower framework with Brookfield Asset Management (TSX:BAM,NYSE:BAM) and Alphabet (NASDAQ:GOOGL) for up to 3 gigawatts of hydroelectricity capacity, starting with US$3 billion in contracts for 670 megawatts capacity in Pennsylvania.

Securities Disclosure: I, Meagen Seatter, hold direct investment interest in one or more companies mentioned in this article.

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Nevada Sunrise Metals Corporation (TSXV: NEV,OTC:NVSGF) (OTC Pink: NVSGF) (‘Nevada Sunrise’ or the ‘Company’) announced today that it has granted a total of 3,250,000 stock options to directors, officers and consultants of the Company, exercisable at a price of $0.05 per share for a period of five years from the date of grant. The stock options have been granted in accordance with the Company’s stock option plan.

About Nevada Sunrise

Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, BC, Canada, that holds interests in gold, copper and lithium exploration projects located in the State of Nevada, USA.

Nevada Sunrise holds the right to purchase a 100% interest in the Griffon Gold Mine Project, located approximately 50 kilometers (33 miles) southwest of Ely, NV.

Nevada Sunrise holds the right to earn a 100% interest in the Coronado Copper Project, located approximately 48 kilometers (30 miles) southeast of Winnemucca, NV.

Nevada Sunrise owns 100% interests in the Gemini West, Jackson Wash and Badlands lithium projects, all of which are located in the Lida Valley in Esmeralda County, NV.

As a complement to its exploration projects in Esmeralda County, the Company owns Nevada Water Right Permit 86863, also located in the Lida Valley basin, near Lida, NV.

For Further Information Contact:
Warren Stanyer, President and Chief Executive Officer
email: warrenstanyer@nevadasunrise.ca
Telephone: (604) 428-8028
Website: www.nevadasunrise.ca

FORWARD-LOOKING STATEMENTS

This release may contain forward‐looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur and include disclosure of anticipated exploration activities. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward‐looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward‐looking statements whether as a result of new information, future events or otherwise.

Such factors include, among others, risks related to future plans for the Company’s Nevada mineral properties; reliance on technical information provided by third parties on any of our exploration properties; changes in mineral project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or metallurgical recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labor disputes and other risks of the mining industry; delays due to pandemic; delays due to weather; delays in obtaining governmental approvals, financing or in the completion of exploration, as well as those factors discussed in the section entitled ‘Risk Factors’ in the Company’s Management Discussion and Analysis for the Nine Months ending June 30, 2025, which is available under Company’s SEDAR+ profile at www.sedarplus.ca.

Although Nevada Sunrise has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278754

News Provided by Newsfile via QuoteMedia

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