The Money Letter

304 MILLION PEOPLE NOW LIVE OUTSIDE THE COUNTRY THEY WERE BORN IN. HERE'S WHERE MOST OF THEM WENT: 🇺🇸 USA — 52.4 MILLION immigrants, the MOST on Earth 🇩🇪 Germany — 16.8 million, MORE than any other country in Europe 🇸🇦 Saudi Arabia — 13.7 million 🇬🇧 UK — 11.8 million 🇫🇷 France — 9.2 million 🇪🇸 Spain — 8.9 million 🇨🇦 Canada — 8.8 million 🇦🇪 UAE — 8.2 million 🇦🇺 Australia — 8.1 million 🇷🇺 Russia — 7.6 million 🇹🇷 Türkiye — 7.1 million 🇮🇹 Italy — 6.6 million 🇯🇴 Jordan — 5.3 million 🇺🇦 Ukraine — 5.1 million 🇮🇳 India — 4.8 million 🇵🇰 Pakistan — 4.2 million 🇮🇷 Iran — 3.8 million 🇲🇾 Malaysia — 3.8 million 🇯🇵 Japan — 3.4 million 🇰🇼 Kuwait — 3.3 million In 1990 the total was 154 million. It has nearly DOUBLED. Elon Musk's warning, in his words: "A welfare state and free immigration will obviously bankrupt any country." His case, step by step: 1. Free immigration on top of a welfare state 2. The bill lands on every country that runs both: "bankrupt" 3. A post he shared says immigration decides "who will get to decide every other issue" 4. His fix: "AI + robotics" Then the vote came. Musk spent over $400 million backing Republicans. Democrats took BOTH chambers of Congress. Trump on 60 Minutes: his deportation policy "might be too tough." "That hurt me." The day he taped it, he named Stephen Miller, who built that agenda, his chief of staff. My call for the next 3 months: Immigration becomes the FIRST big fight of the new Congress Trump calls a deal with Democrats "actually doable." With Miller running his staff, I expect it to stall Every election from here gets fought on ONE question: who gets in The new Congress sits in January. Follow me now, or you'll wish you had when the border fight starts.

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🚨 Every night over Hormuz, Iran's radar crews face the same choice: switch on and get exposed, or stay dark and go blind. And nobody is connecting the dots. MOVE 1: The bait. Cheap US decoy drones, not multi-million dollar jets, fly at Iran's coastal air defence. Radar ON for a few seconds: US electronic spy planes record the site's position, its frequency, its blind spots and the crew's reaction time. Radar OFF: the aircraft flies straight through and can drop guided bombs on the site. Either way, Iran LOSES. MOVE 2: The proof. On November 6, a US fighter jet hit an Iranian surface-to-air missile launcher on Qeshm Island. Iran's Tasnim says 2 missiles struck. Trump: "We do minor strikes, but they built a little bit of an anti-aircraft device and we knocked it out in about 15 minutes, maybe five." Most people read it as routine payback. It is a HUNT. MOVE 3: The line. Qeshm. Larak. Sirik. Jask. Since November 2, the US has hit Qeshm twice and taken out 2 launchers on Larak. Iranian media report blasts at Qeshm, Sirik and Jask. Qeshm and Larak sit over the narrowest shipping lane in the strait. Sirik and Jask push Iran's radar and anti-ship missile reach into the Gulf of Oman. The IRGC spent years building radars, surface-to-air missiles and mobile anti-ship launchers here. That shield is being PEELED. MOVE 4: The bill. Every interceptor Iran fires at a cheap decoy is one less in the stock. The launcher that fired it is spotted within minutes. Then it gets hit. Every night the US target list gets LONGER, and Iran has one less air defence post on the strait. MOVE 5: The timing. The November 6 Qeshm hit was the first US attack since the midterms. More US jets and warships keep moving into the region. US officials are discussing broader strikes. US carriers and tankers move freely at sea. The IRGC stays on edge all night. Iran went to Code 100, its highest alert, and dispersed forces across the south (initial reports). Connect the dots: Decoy drones = MAPPING of Iran's radar net Qeshm in 15 minutes = PROOF of how fast it falls Qeshm to Jask = PEELING of the coastal shield Every shot fired = DRAIN of the interceptor stock Midterms over = END of the political pause This isn't chaos. This is a TAKEDOWN. Military name: SEAD and DEAD. Suppress the air defences, then destroy them. Clear the coast first, and the corridor opens for US fighters, B-2 stealth bombers and cruise missiles to reach missile factories, command centres and nuclear sites deep inside Iran. The same coastal launchers are what let Iran threaten every tanker that passes through the strait. No order for a big strike is public. Stripping the coast is also a warning on its own. But the outer armour is coming off. Radar by radar. Launcher by launcher. Island by island. If a big strike comes, the door inland is already open a crack. The headlines say minor strikes. If you want the full picture without the spin, follow me and share this.

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