Sunspots: No predicted pattern. Bob Zimmerman, behindtheblack.com

14. HEADLINE: International Competition for a Permanent Base on the Moon GUEST:Douglas Messier, David Livingston SUMMARY:NASA plans to establish a permanent lunar base by 2036, facing competition from a joint Chinese-Russian program. Success relies on commercial landers from SpaceX and Blue Origin to reach the South Pole. (14)1947 ARABIAN WORKER (NOT NAMED)

13. HEADLINE: NASA’s Artemis 2 Mission and the New Lunar Frontier GUEST:Douglas Messier, David Livingston SUMMARY:Douglas Messier details the upcoming Artemis 2 mission, the first crewed flight to the moon since 1972. The 10-day mission will test the Orion spacecraft’s life support and technical systems. (13)1947 QATIF

12. HEADLINE: Federal Reserve Policy and the Risks of Stagflation GUEST: John Cochrane SUMMARY: The Federal Reserve is adopting a "wait and see" approach to the current oil shock. Cochrane warns against repeating 1970s mistakes, such as credit controls or failing to act decisively against inflation. (12)1935 KHURMA KARIN

11. HEADLINE: The Impact of War and Oil Shocks on Global Interest Rates GUEST:John Cochrane SUMMARY: Professor John Cochrane explains how oil shocks and inflation fears drive up long-term bond rates. He warns that bad policy responses, like price caps, can turn price shocks into sustained inflation. (11)1935 AL LISAFAH

10. HEADLINE: Russia's Struggling Economy Amid Prolonged War and Sanctions GUEST: Michael Bernstam SUMMARY: Russia faces a looming recession, high inflation, and a structural contraction due to reduced investment. The government has nationalized private pension funds to finance the war effort and infrastructure projects. (10)1935 AL LISAFAH

9. HEADLINE: European Energy Dependency and the Shift Toward RussiaGUEST: Michael Bernstam SUMMARY: Rising energy costs are driving political shifts in Germany and other EU nations toward re-engaging with Russian energy. Despite EU sanctions, Russia is profiting from increased oil prices during the Iran war. (9)1935 JUBAIL ARABIA

8. HEADLINE: Turkey’s Patronage of Hamasand Regional Security Concerns GUEST:Sinan Ciddi SUMMARY: Turkey maintains close ties with Hamas leadership, viewing them as a legitimate political movement rather than terrorists. Rumors also suggest Turkey may be aiding the flow of supplies to Hezbollah. (8)1935 HOFUF ARABIA

7. HEADLINE: Turkey’s Diplomatic Strategy as a Mediator in the Iran War GUEST: Sinan Ciddi SUMMARY: President Erdogan seeks to mediate a ceasefire in the Gulf to protect Turkey's weak economy from rising oil prices. However, he also benefits from a weakened Iranian regime countering Israel. (7)1935 RUINS OF AZ ZOBALA, MAKING COFFEE

6. HEADLINE: Smuggling Operations Evading U.S. AI Chip Export ControlsGUEST: Jack Bernham SUMMARY: An indictment reveals a massive operation smuggling $2.5 billion in Nvidia chips to China via Southeast Asia. Experts suggest closing loopholes that allow Chinese firms to purchase chips domestically. (6)1934-35 AL HOFUF ARABIA

5. HEADLINE: National Security Implications of the Chinese Humanoid Robotics Industry GUEST: Jack Bernham SUMMARY: Jack Bernham explores China’s burgeoning humanoid robotics industry and its potential military applications. U.S. senators are moving to block Chinese robots from federal supply chains to prevent security vulnerabilities. (5)1935 JUBAIL