Tiny X-Ray Telescope Could Unlock The Moon's Hidden Chemistry

Authored by Tokyo Metropolitan University via ScienceDaily,

Researchers at Tokyo Metropolitan University have used simulations to show that a small, newly developed X-ray telescope could help create a chemical map of the entire lunar surface. Such a map would be a major step toward understanding how the Moon formed, changed, and evolved over time.

A new compact X-ray telescope could help scientists produce the first-ever complete map of the Moon’s chemical makeup. Credit: Shutterstock

Their detailed modeling, which included both the telescope detector and a realistic Moon orbiting satellite mission, suggests that one telescope could map five important elements in about two years. A larger five by five array of detectors could produce sharper maps and complete the work more quickly.

Mapping The Moon's Chemistry

The Moon's geological history is still not fully understood. One major reason is that scientists do not yet have a complete geochemical map of the lunar surface. Because researchers cannot simply collect samples from every part of the Moon, they must rely on remote sensing methods.

One of these methods is X-ray fluorescence imaging. In this approach, detectors are pointed at the Moon to capture X-rays emitted by specific elements after they are struck by solar radiation. Those signals can help reveal which elements are present across different regions of the surface.

Why Complete Lunar Maps Are Difficult

Earlier observations from the Apollo and Chandrayaan missions produced useful partial maps, but a full global map is still missing. Creating one is technically difficult for several reasons. Missions have limited time to gather enough sunlight driven X-ray signals, and detectors can degrade during long periods in space.

The problem is especially difficult near the Moon's poles. In these regions, solar X-rays are weaker, which makes it harder to collect the signals needed to identify surface elements.

A Compact X-Ray Telescope For Lunar Orbit

To address these obstacles, a team led by Airi Toida and Prof. Yuichiro Ezoe of Tokyo Metropolitan University has proposed using a compact X-ray telescope on a satellite orbiting the Moon. The telescope would allow wide area observations of the lunar surface during strong solar flares, when the Sun provides more intense X-ray illumination.

Traditional X-ray telescopes are often too large and heavy for this type of mission. By contrast, the team's compact telescope was originally designed for studying Earth's magnetosphere and weighs less than ten kilograms. Its small size could make it practical for long term lunar satellite observations.

The detector has also been tested in radiation conditions far harsher than those expected in lunar orbit. That durability could support robust, wide area, high resolution imaging over an extended mission.

Simulations Show A Path To A Full Moon Map

The researchers then added the telescope's specifications into a numerical simulation to test whether a satellite mission could successfully map the Moon. Assuming 300 solar flares per year and a single telescope aboard a Moon orbiting satellite, the simulation showed that the whole lunar surface could be mapped for five elements - oxygen, iron, magnesium, aluminum, silicon - in two years, using a grid size of 70 x 70 kilometers.

Because the telescope is so compact, the team also examined a satellite carrying a five by five array of telescopes. According to the simulations, this 25 telescope system could reduce the mission time to one year. With two years of operation, it could also map sodium, while improving the grid size to 30 x 30 kilometers.

A New Window Into Lunar Geology

If either mission concept becomes reality, it would produce the first complete map of elemental abundance across the entire Moon. That achievement would give scientists a powerful new tool for studying lunar geology and reconstructing the Moon's long and complex history.

This work was supported by JSPS KAKENHI Grant Number 21H04972.

Journal Reference: Airi Toida, Daiki Ishi, Yuichiro Ezoe, Masaki Numazawa, Kumi Ishikawa. "Numerical simulation of light-element geochemistry of the lunar surface using a compact and lightweight XRF imaging spectrometer." Earth, Planets and Space, 2026; 78 (1). DOI: 10.1186/s40623-025-02326-2

Tyler Durden Mon, 06/08/2026 - 22:35

Tiny X-Ray Telescope Could Unlock The Moon's Hidden Chemistry

Authored by Tokyo Metropolitan University via ScienceDaily,

Researchers at Tokyo Metropolitan University have used simulations to show that a small, newly developed X-ray telescope could help create a chemical map of the entire lunar surface. Such a map would be a major step toward understanding how the Moon formed, changed, and evolved over time.

A new compact X-ray telescope could help scientists produce the first-ever complete map of the Moon’s chemical makeup. Credit: Shutterstock

Their detailed modeling, which included both the telescope detector and a realistic Moon orbiting satellite mission, suggests that one telescope could map five important elements in about two years. A larger five by five array of detectors could produce sharper maps and complete the work more quickly.

Mapping The Moon's Chemistry

The Moon's geological history is still not fully understood. One major reason is that scientists do not yet have a complete geochemical map of the lunar surface. Because researchers cannot simply collect samples from every part of the Moon, they must rely on remote sensing methods.

One of these methods is X-ray fluorescence imaging. In this approach, detectors are pointed at the Moon to capture X-rays emitted by specific elements after they are struck by solar radiation. Those signals can help reveal which elements are present across different regions of the surface.

Why Complete Lunar Maps Are Difficult

Earlier observations from the Apollo and Chandrayaan missions produced useful partial maps, but a full global map is still missing. Creating one is technically difficult for several reasons. Missions have limited time to gather enough sunlight driven X-ray signals, and detectors can degrade during long periods in space.

The problem is especially difficult near the Moon's poles. In these regions, solar X-rays are weaker, which makes it harder to collect the signals needed to identify surface elements.

A Compact X-Ray Telescope For Lunar Orbit

To address these obstacles, a team led by Airi Toida and Prof. Yuichiro Ezoe of Tokyo Metropolitan University has proposed using a compact X-ray telescope on a satellite orbiting the Moon. The telescope would allow wide area observations of the lunar surface during strong solar flares, when the Sun provides more intense X-ray illumination.

Traditional X-ray telescopes are often too large and heavy for this type of mission. By contrast, the team's compact telescope was originally designed for studying Earth's magnetosphere and weighs less than ten kilograms. Its small size could make it practical for long term lunar satellite observations.

The detector has also been tested in radiation conditions far harsher than those expected in lunar orbit. That durability could support robust, wide area, high resolution imaging over an extended mission.

Simulations Show A Path To A Full Moon Map

The researchers then added the telescope's specifications into a numerical simulation to test whether a satellite mission could successfully map the Moon. Assuming 300 solar flares per year and a single telescope aboard a Moon orbiting satellite, the simulation showed that the whole lunar surface could be mapped for five elements - oxygen, iron, magnesium, aluminum, silicon - in two years, using a grid size of 70 x 70 kilometers.

Because the telescope is so compact, the team also examined a satellite carrying a five by five array of telescopes. According to the simulations, this 25 telescope system could reduce the mission time to one year. With two years of operation, it could also map sodium, while improving the grid size to 30 x 30 kilometers.

A New Window Into Lunar Geology

If either mission concept becomes reality, it would produce the first complete map of elemental abundance across the entire Moon. That achievement would give scientists a powerful new tool for studying lunar geology and reconstructing the Moon's long and complex history.

This work was supported by JSPS KAKENHI Grant Number 21H04972.

Journal Reference: Airi Toida, Daiki Ishi, Yuichiro Ezoe, Masaki Numazawa, Kumi Ishikawa. "Numerical simulation of light-element geochemistry of the lunar surface using a compact and lightweight XRF imaging spectrometer." Earth, Planets and Space, 2026; 78 (1). DOI: 10.1186/s40623-025-02326-2

Tyler Durden Mon, 06/08/2026 - 22:35

4 In 10 American Adults Report Having 'Mental Health' Problems

Over the past few years, a lot of progress has been made in accepting and understanding mental health problems.

Having long been seen as a sign of weakness, mental health issues in their many varieties and severities have become much less of a taboo.

As Statista's Valentine Fourreau notes, the pandemic, which left many people feel isolated, powerless or overwhelmed, accelerated that trend, as it not only caused a spike in symptoms of anxiety or depression, but also led more people to open up about their problems.

In a Statista survey from 2025-2026, the prevalence of self-reported mental health problems varies greatly across countries, suggesting that people in some countries, e.g. China or Japan, may be more hesitant to open up about mental health or simply less likely to identify certain problems as mental health issues.

You will find more infographics at Statista

As Statista's chart shows, more than 4 in 10 U.S. adults reported that they experienced symptoms of mental health problems, such as stress, anxiety or depression in the 12 months preceding the survey, making an open discourse about mental health issues all the more important.

With that in mind, we give the last word to AOC, who exclaimed over the weekend that "we are not the crazy ones. We are sane!"...

AOC : "We are not the crazy ones. We are sane!"

If you have to tell people that you're sane in public, you probably...aren't.

Also, have you seen the Democrat platform policies wishlist?

Pretty crazy. pic.twitter.com/oyIQ9Jk3ls

— Justin Theory (@realJustATheory) February 19, 2026

Arguably, if you have to tell people that you're sane in public, you probably...aren't.

Tyler Durden Mon, 06/08/2026 - 22:10

4 In 10 American Adults Report Having 'Mental Health' Problems

Over the past few years, a lot of progress has been made in accepting and understanding mental health problems.

Having long been seen as a sign of weakness, mental health issues in their many varieties and severities have become much less of a taboo.

As Statista's Valentine Fourreau notes, the pandemic, which left many people feel isolated, powerless or overwhelmed, accelerated that trend, as it not only caused a spike in symptoms of anxiety or depression, but also led more people to open up about their problems.

In a Statista survey from 2025-2026, the prevalence of self-reported mental health problems varies greatly across countries, suggesting that people in some countries, e.g. China or Japan, may be more hesitant to open up about mental health or simply less likely to identify certain problems as mental health issues.

You will find more infographics at Statista

As Statista's chart shows, more than 4 in 10 U.S. adults reported that they experienced symptoms of mental health problems, such as stress, anxiety or depression in the 12 months preceding the survey, making an open discourse about mental health issues all the more important.

With that in mind, we give the last word to AOC, who exclaimed over the weekend that "we are not the crazy ones. We are sane!"...

AOC : "We are not the crazy ones. We are sane!"

If you have to tell people that you're sane in public, you probably...aren't.

Also, have you seen the Democrat platform policies wishlist?

Pretty crazy. pic.twitter.com/oyIQ9Jk3ls

— Justin Theory (@realJustATheory) February 19, 2026

Arguably, if you have to tell people that you're sane in public, you probably...aren't.

Tyler Durden Mon, 06/08/2026 - 22:10

Chinese Article Warns VPN Use Alone Can Trigger Punishment Under Expanding Censorship Regime

Authored by Michael Zhuang via The Epoch Times,

A widely circulated Chinese social media article warning that internet users can be punished simply for bypassing China's online censorship system has drawn attention to what observers say is an expanding clampdown on access to the global internet.

The article, published June 2 on Chinese social media WeChat and later archived by California-based nonprofit China Digital Times, which tracks China's state censorship, compiled a series of publicly reported cases of suppression on the use of virtual private networks (VPNs).

People play computer games at an internet cafe in Beijing on Sept. 10, 2021. Greg Baker/AFP via Getty Images

The cases included fines imposed on users who accessed overseas websites, penalties for selling VPN services, arrests related to the dissemination of overseas political content, and investigations into internet activity dating back several years.

The article challenged a common assumption among Chinese internet users that using VPNs for research, accessing foreign websites, or utilizing overseas artificial intelligence (AI) tools is unlikely to attract official scrutiny as long as no sensitive content is shared.

"But from publicly disclosed cases, VPN use itself has already become a target of the Chinese Communist Party's (CCP) investigation," the article said.

The examples highlighted in the article suggest that the CCP is increasingly focused not only on what users do online, but also on how they access the internet.

One of the most notable cases involved a resident of Ningde, Fujian Province, who was penalized in 2024 for allegedly using a VPN to browse overseas websites in 2020.

According to the article, police reviewed historical internet records and later imposed an administrative penalty, prompting criticism from some legal observers who questioned whether the action complied with China's statutory limitations on administrative punishment.

The case stood out because it appeared to demonstrate the communist regime's ability to revisit years-old internet activity rather than relying solely on real-time monitoring and censorship.

Chinese legal professionals interviewed by The Epoch Times said that the enforcement action raised questions about the scope of retroactive investigations. Under China's Administrative Penalty Law, administrative violations generally cannot be punished if they remain undiscovered for more than two years, although certain exceptions apply.

The article also cited cases involving individuals punished for selling VPN services and users fined solely for establishing unauthorized internet connections, when there was no indication they had distributed overseas information.

The reported cases come amid broader efforts by the CCP to tighten control over cross-border internet access.

Under Chinese regulations, businesses and foreign nationals requiring international connectivity are generally expected to use telecommunications channels approved by the regime, while unauthorized VPNs and proxy services remain subject to censorship.

Wang Xin contributed to this report.

Tyler Durden Mon, 06/08/2026 - 21:45

Chinese Article Warns VPN Use Alone Can Trigger Punishment Under Expanding Censorship Regime

Authored by Michael Zhuang via The Epoch Times,

A widely circulated Chinese social media article warning that internet users can be punished simply for bypassing China's online censorship system has drawn attention to what observers say is an expanding clampdown on access to the global internet.

The article, published June 2 on Chinese social media WeChat and later archived by California-based nonprofit China Digital Times, which tracks China's state censorship, compiled a series of publicly reported cases of suppression on the use of virtual private networks (VPNs).

People play computer games at an internet cafe in Beijing on Sept. 10, 2021. Greg Baker/AFP via Getty Images

The cases included fines imposed on users who accessed overseas websites, penalties for selling VPN services, arrests related to the dissemination of overseas political content, and investigations into internet activity dating back several years.

The article challenged a common assumption among Chinese internet users that using VPNs for research, accessing foreign websites, or utilizing overseas artificial intelligence (AI) tools is unlikely to attract official scrutiny as long as no sensitive content is shared.

"But from publicly disclosed cases, VPN use itself has already become a target of the Chinese Communist Party's (CCP) investigation," the article said.

The examples highlighted in the article suggest that the CCP is increasingly focused not only on what users do online, but also on how they access the internet.

One of the most notable cases involved a resident of Ningde, Fujian Province, who was penalized in 2024 for allegedly using a VPN to browse overseas websites in 2020.

According to the article, police reviewed historical internet records and later imposed an administrative penalty, prompting criticism from some legal observers who questioned whether the action complied with China's statutory limitations on administrative punishment.

The case stood out because it appeared to demonstrate the communist regime's ability to revisit years-old internet activity rather than relying solely on real-time monitoring and censorship.

Chinese legal professionals interviewed by The Epoch Times said that the enforcement action raised questions about the scope of retroactive investigations. Under China's Administrative Penalty Law, administrative violations generally cannot be punished if they remain undiscovered for more than two years, although certain exceptions apply.

The article also cited cases involving individuals punished for selling VPN services and users fined solely for establishing unauthorized internet connections, when there was no indication they had distributed overseas information.

The reported cases come amid broader efforts by the CCP to tighten control over cross-border internet access.

Under Chinese regulations, businesses and foreign nationals requiring international connectivity are generally expected to use telecommunications channels approved by the regime, while unauthorized VPNs and proxy services remain subject to censorship.

Wang Xin contributed to this report.

Tyler Durden Mon, 06/08/2026 - 21:45

OpenAI Files Confidentially For IPO, Joining SpaceX and Anthropic In Capitalizing On AI Frenzy

The rush by AI companies to go public before the window closes (i.e., "market conditions" emerge) entered its final lap late on Monday, when OpenAI joined its two mega peers in filing for a blockbuster IPO that could value the ChatGPT creator at more than $1tn as it races rival Anthropic to list its shares publicly, following an imminent offering by SpaceX.

OpenAI said it had confidentially submitted a draft IPO prospectus to the US Securities and Exchange Commission, formally kicking off the process for one of the year’s most hotly anticipated debuts. The company is also planning to launch a tender sale of its shares to provide liquidity to employees in the coming weeks, before the company goes public, Bloomberg reported. Why employees would want to sell shares ahead of an IPO is not exactly clear, unless they fear the market reaction to the public offering would disappoint. 

OpenAI’s listing announcement comes days before SpaceX is set to IPO in a deal that could raise a record $86bn and value Elon Musk’s rockets-to-AI conglomerate at $1.78tn. Anthropic, the startup behind the chatbot Claude, said last week that it had filed confidentially for an IPO of its own. The company soared to a $965 billion valuation in its latest private funding round - above OpenAI’s for the first time - as its revenue surged.

The three Wall Street listings comes at a time of unbridled euphoria among investors over AI, which has helped propel US stocks to a series of record highs but also prompted worries that markets are overheating. Last week, Goldman published a note seeking to preempt the big question: "Can Markets Absorb Massive Stock Supply From Coming Mega IPOs Without A Crash:" While Goldman did not express concerns about the coming flood of stock supply (its argument is that demand will more than offset the flood of new shares), the bank which is also a lead underwriter for both SpaceX and Anthropic calculated that recent and upcoming IPOs will result in roughly $500 billion of additional unlocked shares available to sell in 2026 and likely a larger quantity in 2027 as insiders sell and distribute their stakes to public (mostly retail) shareholders. The bank expects the majority of potential equity supply from the current pipeline of IPOs will become free float in 2027. 

OpenAI’s IPO - which also comes at a time when CEO Sam Altman has floated handing out shares to US taxpayers ostensibly in hopes that such an action would lead to a government backstop and/or bailout if and when the AI cycle turns - will mark a test of investors’ appetite for a company posting booming revenue growth but also staggering losses that are forecast to continue for many years as the company spends vast sums on data centres and other infrastructure: its funding commitments to hyperscalar companies are well north of $1 trillion and unless the company manages to dramatically boost its revenue growth it will find itself woefully undercapitalized in coming years. Hence the IPO, as well as a bevy of private credit deals which mask the company's true debt exposure. 

OpenAI has been investing heavily in AI research to compete with rivals including Google and Anthropic, as well as to expand the computing capacity needed to serve ChatGPT’s 900mn users. In February, the company told investors it was planning to spend about $600 billion on AI infrastructure by 2030.

It said in a statement on Monday that it had not “decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company”.

“But it’s a complicated set of trade-offs and this gives us the option to go public sooner if that ends up being best,” it added.

A public debut in 2026 would also pit Altman squarely against Elon Musk on a different plane than the failed lawsuit against OpenAI and its CEO. SpaceX, Musk’s rocket, satellite and AI firm, is targeting an IPO at a valuation of roughly $1.8 trillion on Thursday, which would immediately make it one of the world’s most valuable public companies.

As an indication of the staggering demand for AI exposure, OpenAI has already dwarfed even SpaceX’s IPO in a single funding round. The company completed a deal to raise $122 billion from investors at an $852 billion valuation.

The ChatGPT maker also planned to launch an employee share sale ahead of going public at its current $852bn price tag, according to people familiar with the matter. One said OpenAI’s decision to announce its confidential filing was intended to give employees who were considering selling shares “transparency” about the upcoming IPO.

US tech groups often file IPO paperwork privately, keeping their financial figures out of the public eye while the SEC reviews documents. That allows start-ups to gauge investor demand, make revisions and sometimes scrap IPO plans without broader scrutiny.

The San Francisco-based company’s move to progress its listing plans received a boost after a California court last month threw out Musk’s legal case against OpenAI and its chief Sam Altman. 

A public debut in 2026 would also pit Altman squarely against Elon Musk on a different plane than the failed lawsuit against OpenAI and its CEO. SpaceX, Musk’s rocket, satellite and AI firm, is targeting an IPO at a valuation of roughly $1.8 trillion on Thursday, which would immediately make it one of the world’s most valuable public companies.

OpenAI had been working with bankers at Goldman Sachs and Morgan Stanley and lawyers at Cooley for the past few months, people familiar with its preparations previously told the FT. Monday’s filing sets OpenAI on a path to start trading as early as the autumn, they said.

It is already one of the world’s most valuable private companies, after closing a record funding round of up to $122bn in March. As part of that deal it raised $3bn from retail investors, who will be given a wider opportunity to invest in the start-up when it becomes publicly traded.

Tyler Durden Mon, 06/08/2026 - 21:20

OpenAI Files Confidentially For IPO, Joining SpaceX and Anthropic In Capitalizing On AI Frenzy

The rush by AI companies to go public before the window closes (i.e., "market conditions" emerge) entered its final lap late on Monday, when OpenAI joined its two mega peers in filing for a blockbuster IPO that could value the ChatGPT creator at more than $1tn as it races rival Anthropic to list its shares publicly, following an imminent offering by SpaceX.

OpenAI said it had confidentially submitted a draft IPO prospectus to the US Securities and Exchange Commission, formally kicking off the process for one of the year’s most hotly anticipated debuts. The company is also planning to launch a tender sale of its shares to provide liquidity to employees in the coming weeks, before the company goes public, Bloomberg reported. Why employees would want to sell shares ahead of an IPO is not exactly clear, unless they fear the market reaction to the public offering would disappoint. 

OpenAI’s listing announcement comes days before SpaceX is set to IPO in a deal that could raise a record $86bn and value Elon Musk’s rockets-to-AI conglomerate at $1.78tn. Anthropic, the startup behind the chatbot Claude, said last week that it had filed confidentially for an IPO of its own. The company soared to a $965 billion valuation in its latest private funding round - above OpenAI’s for the first time - as its revenue surged.

The three Wall Street listings comes at a time of unbridled euphoria among investors over AI, which has helped propel US stocks to a series of record highs but also prompted worries that markets are overheating. Last week, Goldman published a note seeking to preempt the big question: "Can Markets Absorb Massive Stock Supply From Coming Mega IPOs Without A Crash:" While Goldman did not express concerns about the coming flood of stock supply (its argument is that demand will more than offset the flood of new shares), the bank which is also a lead underwriter for both SpaceX and Anthropic calculated that recent and upcoming IPOs will result in roughly $500 billion of additional unlocked shares available to sell in 2026 and likely a larger quantity in 2027 as insiders sell and distribute their stakes to public (mostly retail) shareholders. The bank expects the majority of potential equity supply from the current pipeline of IPOs will become free float in 2027. 

OpenAI’s IPO - which also comes at a time when CEO Sam Altman has floated handing out shares to US taxpayers ostensibly in hopes that such an action would lead to a government backstop and/or bailout if and when the AI cycle turns - will mark a test of investors’ appetite for a company posting booming revenue growth but also staggering losses that are forecast to continue for many years as the company spends vast sums on data centres and other infrastructure: its funding commitments to hyperscalar companies are well north of $1 trillion and unless the company manages to dramatically boost its revenue growth it will find itself woefully undercapitalized in coming years. Hence the IPO, as well as a bevy of private credit deals which mask the company's true debt exposure. 

OpenAI has been investing heavily in AI research to compete with rivals including Google and Anthropic, as well as to expand the computing capacity needed to serve ChatGPT’s 900mn users. In February, the company told investors it was planning to spend about $600 billion on AI infrastructure by 2030.

It said in a statement on Monday that it had not “decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company”.

“But it’s a complicated set of trade-offs and this gives us the option to go public sooner if that ends up being best,” it added.

A public debut in 2026 would also pit Altman squarely against Elon Musk on a different plane than the failed lawsuit against OpenAI and its CEO. SpaceX, Musk’s rocket, satellite and AI firm, is targeting an IPO at a valuation of roughly $1.8 trillion on Thursday, which would immediately make it one of the world’s most valuable public companies.

As an indication of the staggering demand for AI exposure, OpenAI has already dwarfed even SpaceX’s IPO in a single funding round. The company completed a deal to raise $122 billion from investors at an $852 billion valuation.

The ChatGPT maker also planned to launch an employee share sale ahead of going public at its current $852bn price tag, according to people familiar with the matter. One said OpenAI’s decision to announce its confidential filing was intended to give employees who were considering selling shares “transparency” about the upcoming IPO.

US tech groups often file IPO paperwork privately, keeping their financial figures out of the public eye while the SEC reviews documents. That allows start-ups to gauge investor demand, make revisions and sometimes scrap IPO plans without broader scrutiny.

The San Francisco-based company’s move to progress its listing plans received a boost after a California court last month threw out Musk’s legal case against OpenAI and its chief Sam Altman. 

A public debut in 2026 would also pit Altman squarely against Elon Musk on a different plane than the failed lawsuit against OpenAI and its CEO. SpaceX, Musk’s rocket, satellite and AI firm, is targeting an IPO at a valuation of roughly $1.8 trillion on Thursday, which would immediately make it one of the world’s most valuable public companies.

OpenAI had been working with bankers at Goldman Sachs and Morgan Stanley and lawyers at Cooley for the past few months, people familiar with its preparations previously told the FT. Monday’s filing sets OpenAI on a path to start trading as early as the autumn, they said.

It is already one of the world’s most valuable private companies, after closing a record funding round of up to $122bn in March. As part of that deal it raised $3bn from retail investors, who will be given a wider opportunity to invest in the start-up when it becomes publicly traded.

Tyler Durden Mon, 06/08/2026 - 21:20

How A Tiny Insect Decimated Florida's Citrus, And What Orchardists Are Doing About It

Authored by Jacob Burg via The Epoch Times,

Lifelong citrus farmer Sidney Tillett cut a path through a grove that has endured in his family for four generations, stopping his SUV between two rows of trees. On one side was a long plot of lush green saplings, covered with protective mesh bags tied to stakes in the ground.

The Citrus Place, a fruit and produce market in Terra Ceia, Florida, on May 21, 2026. The store is popular among vacationers.

Directly on the other side, a row of petite orange trees with withering leaves were all battling a bacterial infection, caused by an invasive insect that has decimated the state's orange industry in just two decades.

"It's a story of survival," Tillett told The Epoch Times, remembering his father's 25-foot-tall citrus trees that could sometimes produce 1,000 pounds of fruit in a single season.

Now, what trees survive are lucky if their canopies get half that size, or produce any fruit that can be sold at market. What was once 600 acres of citrus trees in the 1970s has now dwindled to five.

The orange - Florida's inextricable insignia that emblazons license plates, T-shirts, and bumper stickers from affluent coastal towns to rural farming communities - was once the state's largest cash crop, and positioned the Sunshine State as the country's majority citrus producer.

Florida harvested a record 244 million boxes of oranges during the 1997-1998 season. This year, the Department of Agriculture estimates Florida will only produce 12.2 million boxes, a stunning 95 percent drop in just under 30 years.

While occasional freezes, catastrophic hurricanes, and an on-and-off, decades-long battle with the citrus canker disease proved to be frustrating setbacks for many orange growers, the destruction of Florida's citrus industry kicked into high gear in 2005.

That was the year an invasive insect from China - which made its way to the United States through Mexico - introduced a disease that would ultimately decimate Florida's citrus industry.

The Asian citrus psyllid feeds on citrus tree leaves, causing the plant to contract a bacterial infection known as huanglongbing, commonly called citrus greening.

The disease causes rapid root loss, slowly draining the life from healthy trees as they struggle to absorb and retain nutrients. Oranges languish, struggling to reach full maturity and normal sugar composition - losing the sweet taste that made the fruit an in-demand crop worldwide.

There is no known cure. And the impacts extend far beyond the Sunshine State.

Citrus greening has slashed total U.S. orange production by 80 percent and grapefruit production by 88 percent since 2000, according to a report from the American Farm Bureau Federation. California has now overtaken Florida to become the United States' largest citrus producer, and nations such as Egypt and South Africa now export more oranges worldwide.

But Florida citrus farmers are not giving up.

Recent studies by the University of Florida's Citrus Research and Education Center have offered several paths for the industry to take.

Insecticides are a major component of citrus greening management, the center stated in an August 2025 production guide, but a specialized protective netting known as exclusion mesh "is currently the only tool that can fully prevent [Asian citrus psyllid] infestation in citrus."

Farmers have covered young saplings with translucent mesh bags that tent the tree's canopy to keep the Asian citrus psyllid out long enough for the tree to take hold and mature.

Meanwhile, light and moisture can pass through the cover's fine mesh.

While effective at stopping immediate tree death - as many saplings are infected within the first six months - the bags have some limitations.

They allow citrus trees to produce quality fruit for at least 30 months after they're planted, but the trees eventually begin to falter after the bags are removed two to three years later.

That's why citrus farmers such as Katie and Shane Bevilacqua are trailblazing a different, even more radical approach to fighting citrus greening.

They have built massive permanent mesh tents over their nearly 750 acres of grapefruit trees at Golden Ridge Groves in Bartow, Florida, where customers can self-pick or buy bushels of fruit in the couple's market. The tents are known as "citrus under protective screen" structures.

"It's early, but it's proving to keep the psyllid out, allow the tree to remain healthy, and put on the healthy crop and beautiful fruit that Florida has been known for for decades," Shane Bevilacqua told The Epoch Times.

"Even if this could be our small contribution to keeping it going, we're excited about that."

Road to Ruin

The near-total decimation of Florida's citrus industry did not happen overnight.

When officials first found citrus greening in the state in 2005, farmers had already battled irregular cold seasons with freezing temperatures that damaged their crops.

Citrus canker - a different, but still harmful bacterial infection - arrived in Florida more than 100 years ago, and was believed to be eradicated until subsequent outbreaks in the 1980s and '90s.

Despite strong efforts to eradicate citrus canker, the historic 2004 and 2005 hurricane seasons spread the disease far and wide across the state. It was later found in Louisiana, Texas, and Alabama, but is currently considered endemic in Florida.

Those years would not see the end of hurricanes' impact on Florida's once famous orange market either, as the catastrophic Category 5 Hurricane Ian would buzz-saw through the center of the state in 2022, slicing through thousands of trees in its path.

Then just two years later, two back-to-back major hurricanes - Helene first, then Milton - would slam into Florida in the course of less than two weeks, further devastating the state's citrus crops.

Tillett lost a fifth of his grove during those storms, as the hammering winds blew over many of his younger trees.

But citrus greening, Tillett said, has been the biggest factor in so many multigenerational growers choosing to leave the state's cherished orange industry.

"The groves fell into nonproduction. Everybody lost," he said. "I mean, it's hard to justify a citrus grove when you're not making money."

The Asian citrus psyllid, spreader of a bacterial infection known as citrus greening, can be seen on an orange tree at Sidney Tillett's farm in Terra Ceia, Fla., on May 21, 2026. The invasive insect has decimated the state’s orange industry in just two decades. Tyler Durden Mon, 06/08/2026 - 20:55

How A Tiny Insect Decimated Florida's Citrus, And What Orchardists Are Doing About It

Authored by Jacob Burg via The Epoch Times,

Lifelong citrus farmer Sidney Tillett cut a path through a grove that has endured in his family for four generations, stopping his SUV between two rows of trees. On one side was a long plot of lush green saplings, covered with protective mesh bags tied to stakes in the ground.

The Citrus Place, a fruit and produce market in Terra Ceia, Florida, on May 21, 2026. The store is popular among vacationers.

Directly on the other side, a row of petite orange trees with withering leaves were all battling a bacterial infection, caused by an invasive insect that has decimated the state's orange industry in just two decades.

"It's a story of survival," Tillett told The Epoch Times, remembering his father's 25-foot-tall citrus trees that could sometimes produce 1,000 pounds of fruit in a single season.

Now, what trees survive are lucky if their canopies get half that size, or produce any fruit that can be sold at market. What was once 600 acres of citrus trees in the 1970s has now dwindled to five.

The orange - Florida's inextricable insignia that emblazons license plates, T-shirts, and bumper stickers from affluent coastal towns to rural farming communities - was once the state's largest cash crop, and positioned the Sunshine State as the country's majority citrus producer.

Florida harvested a record 244 million boxes of oranges during the 1997-1998 season. This year, the Department of Agriculture estimates Florida will only produce 12.2 million boxes, a stunning 95 percent drop in just under 30 years.

While occasional freezes, catastrophic hurricanes, and an on-and-off, decades-long battle with the citrus canker disease proved to be frustrating setbacks for many orange growers, the destruction of Florida's citrus industry kicked into high gear in 2005.

That was the year an invasive insect from China - which made its way to the United States through Mexico - introduced a disease that would ultimately decimate Florida's citrus industry.

The Asian citrus psyllid feeds on citrus tree leaves, causing the plant to contract a bacterial infection known as huanglongbing, commonly called citrus greening.

The disease causes rapid root loss, slowly draining the life from healthy trees as they struggle to absorb and retain nutrients. Oranges languish, struggling to reach full maturity and normal sugar composition - losing the sweet taste that made the fruit an in-demand crop worldwide.

There is no known cure. And the impacts extend far beyond the Sunshine State.

Citrus greening has slashed total U.S. orange production by 80 percent and grapefruit production by 88 percent since 2000, according to a report from the American Farm Bureau Federation. California has now overtaken Florida to become the United States' largest citrus producer, and nations such as Egypt and South Africa now export more oranges worldwide.

But Florida citrus farmers are not giving up.

Recent studies by the University of Florida's Citrus Research and Education Center have offered several paths for the industry to take.

Insecticides are a major component of citrus greening management, the center stated in an August 2025 production guide, but a specialized protective netting known as exclusion mesh "is currently the only tool that can fully prevent [Asian citrus psyllid] infestation in citrus."

Farmers have covered young saplings with translucent mesh bags that tent the tree's canopy to keep the Asian citrus psyllid out long enough for the tree to take hold and mature.

Meanwhile, light and moisture can pass through the cover's fine mesh.

While effective at stopping immediate tree death - as many saplings are infected within the first six months - the bags have some limitations.

They allow citrus trees to produce quality fruit for at least 30 months after they're planted, but the trees eventually begin to falter after the bags are removed two to three years later.

That's why citrus farmers such as Katie and Shane Bevilacqua are trailblazing a different, even more radical approach to fighting citrus greening.

They have built massive permanent mesh tents over their nearly 750 acres of grapefruit trees at Golden Ridge Groves in Bartow, Florida, where customers can self-pick or buy bushels of fruit in the couple's market. The tents are known as "citrus under protective screen" structures.

"It's early, but it's proving to keep the psyllid out, allow the tree to remain healthy, and put on the healthy crop and beautiful fruit that Florida has been known for for decades," Shane Bevilacqua told The Epoch Times.

"Even if this could be our small contribution to keeping it going, we're excited about that."

Road to Ruin

The near-total decimation of Florida's citrus industry did not happen overnight.

When officials first found citrus greening in the state in 2005, farmers had already battled irregular cold seasons with freezing temperatures that damaged their crops.

Citrus canker - a different, but still harmful bacterial infection - arrived in Florida more than 100 years ago, and was believed to be eradicated until subsequent outbreaks in the 1980s and '90s.

Despite strong efforts to eradicate citrus canker, the historic 2004 and 2005 hurricane seasons spread the disease far and wide across the state. It was later found in Louisiana, Texas, and Alabama, but is currently considered endemic in Florida.

Those years would not see the end of hurricanes' impact on Florida's once famous orange market either, as the catastrophic Category 5 Hurricane Ian would buzz-saw through the center of the state in 2022, slicing through thousands of trees in its path.

Then just two years later, two back-to-back major hurricanes - Helene first, then Milton - would slam into Florida in the course of less than two weeks, further devastating the state's citrus crops.

Tillett lost a fifth of his grove during those storms, as the hammering winds blew over many of his younger trees.

But citrus greening, Tillett said, has been the biggest factor in so many multigenerational growers choosing to leave the state's cherished orange industry.

"The groves fell into nonproduction. Everybody lost," he said. "I mean, it's hard to justify a citrus grove when you're not making money."

The Asian citrus psyllid, spreader of a bacterial infection known as citrus greening, can be seen on an orange tree at Sidney Tillett's farm in Terra Ceia, Fla., on May 21, 2026. The invasive insect has decimated the state’s orange industry in just two decades. Tyler Durden Mon, 06/08/2026 - 20:55

Interim Air Force One Jet Gets Patriotic Paint Scheme Ahead Of America's 250th Party

One month after the U.S. Air Force confirmed that the Boeing 747 donated by Qatar, designated as the VC-25B Bridge and widely described as President Trump's interim Air Force One aircraft, had entered flight testing in Texas and was being prepared for a new red, white, and blue color scheme, an OSINT account on X claims the aircraft has now been painted.

"Ladies and gentlemen… your United States Air Force's new VC-25B," X user TGhormley Photography wrote Sunday morning.

TGhormley Photography said the image was taken Saturday evening, though they did not disclose the location.

pic.twitter.com/LAk8IqnLlR

— TGhormley Photography (@SkunkChaser25) June 7, 2026

The VC-25B Bridge is a former Qatari head-of-state Boeing 747-8i that will serve as an interim presidential aircraft until Boeing's delayed VC-25B replacements are ready, now expected in 2028.

Last month, the USAF said the VC-25B Bridge underwent flight testing in Texas and was being prepared for a red, white, and blue paint scheme.

The military blog TWZ recently noted that there are still many "questions swirling about the legality and ethics of receiving the gifted plane." Last May, the Pentagon took delivery of the aircraft and said it would rapidly undertake the required modifications.

The VC-25B Bridge appears to be ready ahead of the nation’s 250th anniversary celebrations on July 4, less than one month away

Tyler Durden Mon, 06/08/2026 - 20:30

Interim Air Force One Jet Gets Patriotic Paint Scheme Ahead Of America's 250th Party

One month after the U.S. Air Force confirmed that the Boeing 747 donated by Qatar, designated as the VC-25B Bridge and widely described as President Trump's interim Air Force One aircraft, had entered flight testing in Texas and was being prepared for a new red, white, and blue color scheme, an OSINT account on X claims the aircraft has now been painted.

"Ladies and gentlemen… your United States Air Force's new VC-25B," X user TGhormley Photography wrote Sunday morning.

TGhormley Photography said the image was taken Saturday evening, though they did not disclose the location.

pic.twitter.com/LAk8IqnLlR

— TGhormley Photography (@SkunkChaser25) June 7, 2026

The VC-25B Bridge is a former Qatari head-of-state Boeing 747-8i that will serve as an interim presidential aircraft until Boeing's delayed VC-25B replacements are ready, now expected in 2028.

Last month, the USAF said the VC-25B Bridge underwent flight testing in Texas and was being prepared for a red, white, and blue paint scheme.

The military blog TWZ recently noted that there are still many "questions swirling about the legality and ethics of receiving the gifted plane." Last May, the Pentagon took delivery of the aircraft and said it would rapidly undertake the required modifications.

The VC-25B Bridge appears to be ready ahead of the nation’s 250th anniversary celebrations on July 4, less than one month away

Tyler Durden Mon, 06/08/2026 - 20:30

529-To-Roth IRA Rollover Rules In 2026: Five Questions That Help Determine Whether You Qualify

Authored by Adam H. Douglas via The Epoch Times,

After funding a 529 college savings account for years, you realize there is money left over. Maybe your grandchild graduated early, earned a scholarship that covered more than expected, or decided college was not for them [ZH: or maybe your grandkid is an ungrateful little shit] . A federal rule now lets you move that leftover balance into a Roth IRA, tax-free. It may sound too good to be true, and for some account holders, it is.

Leftover 529 funds can now be rolled into a Roth IRA, but strict rules may limit who qualifies. Panchenko Vladimir/Shutterstock

The provision is real, but the eligibility window is narrow, and several states have created a tax trap that most account holders never see coming.

Under SECURE 2.0's Section 126, you can roll unused 529 funds into a Roth IRA, tax-free and penalty-free, up to a $35,000 lifetime limit. But the account must be at least 15 years old, the money being moved must be at least 5 years old, the Roth IRA must belong to the 529 beneficiary, and that beneficiary must have earned income. Several states, including California, impose their own taxes on the rollover regardless of the federal treatment.

Here are five gating questions to help you explore these rules in detail and determine whether the rollover is actually available to you.

Question 1: Is The Account Old Enough?

To qualify for a rollover, the 529 plan must have been maintained for at least 15 years before any funds can be transferred. This requirement starts from the date the account was originally established, not from when contributions began or when the beneficiary was designated.

Changing the beneficiary on a 529 plan will likely restart the 15-year clock. That would mean the new beneficiary must wait 15 years from the date they became the beneficiary before initiating a rollover. Treat any beneficiary change with caution if a rollover is part of your plan.

Question 2: Is The Money Old Enough?

The five-year rule: Any contributions made within the five years before the transfer, along with earnings on those contributions, are ineligible. Only money that has been in the account for a minimum of five years qualifies.

This rule can trip up grandparents who continued making contributions after a grandchild started college. Those recent deposits remain locked out until the five-year window clears, even if the account itself is decades old.

Question 3: Whose Name Is On The Roth IRA?

The funds cannot revert to the owner of the 529 account. They can only be transferred to a Roth IRA held by the 529 beneficiary. If you are a grandparent who owns the 529, the rollover goes into your grandchild's Roth IRA, not yours.

The beneficiary must also have earned income for the year at least equal to the amount transferred. A grandchild with no earned income in a given year cannot receive a rollover that year, even if every other condition is met.

Question 4: How Much Are You Planning To Move, And When?

The aggregate amount transferred from a 529 account to a Roth IRA may not exceed $35,000 per individual, and the amount transferred in any year is limited to the annual Roth IRA contribution limit. For 2026, the IRS has set that limit at $7,500 for those under age 50, and $8,600 for those 50 or older. Moving the full $35,000 lifetime cap takes a minimum of five years at current limits.

The good news is that 529-to-Roth rollovers bypass the usual Roth IRA income limits that phase out contributions for high earners, creating a unique opportunity for high-income families to fund Roth IRAs for their children or grandchildren.

Note that the rollover shares the annual limit with any other Roth IRA contributions the beneficiary makes that year. If the beneficiary contributes $3,000 in cash, only the remaining Roth room is available for the 529 rollover.

Question 5: What Does Your State Say?

This is the question people skip, and it's a costly one to miss. The rollover is federally tax-free - that's federal, not state.

Most states with income taxes, however, have indicated they will follow federal law. As of September 2025, 30 states have confirmed they conform, including New York, Ohio, Virginia, and Illinois, among others.

Several states have not.

• California residents who execute a 529-to-Roth rollover will be subject to both state income tax and an additional 2.5 percent California tax on the earnings portion.
• New Jersey's decision was listed as pending on tax-tracking boards until recently, but the state has since aligned with federal guidelines to allow tax-free transfers.
• Several states and the District of Columbia have indicated that 529 savers may be subject to state income tax recapture if 529 funds are transferred to a Roth IRA.

Verify your state's current position before initiating any rollover. State guidance on this provision continues to evolve.

FAQs About The 529-To-Roth IRA Rollover Does The Rollover Count Against The Beneficiary's Roth IRA Income Limits?

No, and this is one of the provision's most useful features. In 2026, single filers with modified adjusted gross income above $153,000 and married couples above $242,000 typically cannot contribute directly to a Roth IRA. However, 529-to-Roth rollovers bypass these restrictions entirely. This makes the rollover particularly valuable for families with high-earning adult children who would otherwise be shut out of direct Roth IRA contributions.

What Happens If The Beneficiary Has No Earned Income That Year?

The rollover cannot happen. The beneficiary must have earned income for the year at least equal to the amount transferred, just as with any Roth IRA contribution. If a grandchild is between jobs, attending graduate school without a stipend, or otherwise has no earned income in a given year, the rollover must wait. You can carry the unused rollover opportunity forward to a future year, as long as the lifetime $35,000 cap has not been reached.

Does The Rollover Have To Be A Direct Transfer?

Yes. The movement of assets must be completed in a direct trustee-to-trustee transfer. Do not withdraw the money from the 529 first and attempt to deposit it into the Roth IRA yourself. That path treats the distribution as a non-qualified 529 withdrawal, which triggers income tax and the standard 10 percent federal penalty on the earnings portion. Contact both the 529 plan administrator and the Roth IRA custodian to coordinate the transfer directly between institutions.

How Is The Rollover Reported At Tax Time?

The movement of assets is reported on IRS Form 1099-R from the 529 plan and Form 5498 from the Roth IRA custodian. The IRS refers to the transaction as a "qualified rollover contribution," reportable in Box 10 of Form 5498. It should appear on the beneficiary's tax return for the year of the transfer. Because the paperwork involves both the 529 administrator and the Roth IRA custodian, most advisers recommend working with a tax professional during the first year you execute a rollover to confirm reporting is handled correctly.

The views and opinions expressed are those of the author. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice.

Tyler Durden Mon, 06/08/2026 - 20:05

529-To-Roth IRA Rollover Rules In 2026: Five Questions That Help Determine Whether You Qualify

Authored by Adam H. Douglas via The Epoch Times,

After funding a 529 college savings account for years, you realize there is money left over. Maybe your grandchild graduated early, earned a scholarship that covered more than expected, or decided college was not for them [ZH: or maybe your grandkid is an ungrateful little shit] . A federal rule now lets you move that leftover balance into a Roth IRA, tax-free. It may sound too good to be true, and for some account holders, it is.

Leftover 529 funds can now be rolled into a Roth IRA, but strict rules may limit who qualifies. Panchenko Vladimir/Shutterstock

The provision is real, but the eligibility window is narrow, and several states have created a tax trap that most account holders never see coming.

Under SECURE 2.0's Section 126, you can roll unused 529 funds into a Roth IRA, tax-free and penalty-free, up to a $35,000 lifetime limit. But the account must be at least 15 years old, the money being moved must be at least 5 years old, the Roth IRA must belong to the 529 beneficiary, and that beneficiary must have earned income. Several states, including California, impose their own taxes on the rollover regardless of the federal treatment.

Here are five gating questions to help you explore these rules in detail and determine whether the rollover is actually available to you.

Question 1: Is The Account Old Enough?

To qualify for a rollover, the 529 plan must have been maintained for at least 15 years before any funds can be transferred. This requirement starts from the date the account was originally established, not from when contributions began or when the beneficiary was designated.

Changing the beneficiary on a 529 plan will likely restart the 15-year clock. That would mean the new beneficiary must wait 15 years from the date they became the beneficiary before initiating a rollover. Treat any beneficiary change with caution if a rollover is part of your plan.

Question 2: Is The Money Old Enough?

The five-year rule: Any contributions made within the five years before the transfer, along with earnings on those contributions, are ineligible. Only money that has been in the account for a minimum of five years qualifies.

This rule can trip up grandparents who continued making contributions after a grandchild started college. Those recent deposits remain locked out until the five-year window clears, even if the account itself is decades old.

Question 3: Whose Name Is On The Roth IRA?

The funds cannot revert to the owner of the 529 account. They can only be transferred to a Roth IRA held by the 529 beneficiary. If you are a grandparent who owns the 529, the rollover goes into your grandchild's Roth IRA, not yours.

The beneficiary must also have earned income for the year at least equal to the amount transferred. A grandchild with no earned income in a given year cannot receive a rollover that year, even if every other condition is met.

Question 4: How Much Are You Planning To Move, And When?

The aggregate amount transferred from a 529 account to a Roth IRA may not exceed $35,000 per individual, and the amount transferred in any year is limited to the annual Roth IRA contribution limit. For 2026, the IRS has set that limit at $7,500 for those under age 50, and $8,600 for those 50 or older. Moving the full $35,000 lifetime cap takes a minimum of five years at current limits.

The good news is that 529-to-Roth rollovers bypass the usual Roth IRA income limits that phase out contributions for high earners, creating a unique opportunity for high-income families to fund Roth IRAs for their children or grandchildren.

Note that the rollover shares the annual limit with any other Roth IRA contributions the beneficiary makes that year. If the beneficiary contributes $3,000 in cash, only the remaining Roth room is available for the 529 rollover.

Question 5: What Does Your State Say?

This is the question people skip, and it's a costly one to miss. The rollover is federally tax-free - that's federal, not state.

Most states with income taxes, however, have indicated they will follow federal law. As of September 2025, 30 states have confirmed they conform, including New York, Ohio, Virginia, and Illinois, among others.

Several states have not.

• California residents who execute a 529-to-Roth rollover will be subject to both state income tax and an additional 2.5 percent California tax on the earnings portion.
• New Jersey's decision was listed as pending on tax-tracking boards until recently, but the state has since aligned with federal guidelines to allow tax-free transfers.
• Several states and the District of Columbia have indicated that 529 savers may be subject to state income tax recapture if 529 funds are transferred to a Roth IRA.

Verify your state's current position before initiating any rollover. State guidance on this provision continues to evolve.

FAQs About The 529-To-Roth IRA Rollover Does The Rollover Count Against The Beneficiary's Roth IRA Income Limits?

No, and this is one of the provision's most useful features. In 2026, single filers with modified adjusted gross income above $153,000 and married couples above $242,000 typically cannot contribute directly to a Roth IRA. However, 529-to-Roth rollovers bypass these restrictions entirely. This makes the rollover particularly valuable for families with high-earning adult children who would otherwise be shut out of direct Roth IRA contributions.

What Happens If The Beneficiary Has No Earned Income That Year?

The rollover cannot happen. The beneficiary must have earned income for the year at least equal to the amount transferred, just as with any Roth IRA contribution. If a grandchild is between jobs, attending graduate school without a stipend, or otherwise has no earned income in a given year, the rollover must wait. You can carry the unused rollover opportunity forward to a future year, as long as the lifetime $35,000 cap has not been reached.

Does The Rollover Have To Be A Direct Transfer?

Yes. The movement of assets must be completed in a direct trustee-to-trustee transfer. Do not withdraw the money from the 529 first and attempt to deposit it into the Roth IRA yourself. That path treats the distribution as a non-qualified 529 withdrawal, which triggers income tax and the standard 10 percent federal penalty on the earnings portion. Contact both the 529 plan administrator and the Roth IRA custodian to coordinate the transfer directly between institutions.

How Is The Rollover Reported At Tax Time?

The movement of assets is reported on IRS Form 1099-R from the 529 plan and Form 5498 from the Roth IRA custodian. The IRS refers to the transaction as a "qualified rollover contribution," reportable in Box 10 of Form 5498. It should appear on the beneficiary's tax return for the year of the transfer. Because the paperwork involves both the 529 administrator and the Roth IRA custodian, most advisers recommend working with a tax professional during the first year you execute a rollover to confirm reporting is handled correctly.

The views and opinions expressed are those of the author. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice.

Tyler Durden Mon, 06/08/2026 - 20:05

"Replacing Lower Value Human Capital": Banks Cut Staff As Recent Grads Face Off Against AI For Jobs

As AI reshapes banking, students entering the industry are confronting a double challenge: navigating AI-driven hiring processes today while wondering how many traditional finance jobs will remain tomorrow, according to Bloomberg.

Warwick University student Andre Bonnick, for example, spends hours preparing for automated screening interviews rather than conversations with human recruiters. While he hopes to secure a role in finance, he is also weighing options such as further study as entry-level opportunities become more competitive.

Industry leaders have been increasingly candid about AI’s impact on employment. JPMorgan CEO Jamie Dimon stated that the technology “will eliminate jobs,” while other bank executives have acknowledged that some roles may no longer be needed as automation expands. Standard Chartered CEO Bill Winters described the shift as “replacing in some cases lower-value human capital” with technology investments, comments for which he later apologized.

Bloomberg writes that the pressure is already visible at the junior level. Banks are reducing analyst intake programs and investing heavily in AI capabilities, leading many graduates to question the long-term stability of careers that were once viewed as secure and lucrative. Even so, experts argue that banks cannot eliminate junior hiring altogether because the industry still relies on developing future leaders through apprenticeship-style career paths.

For now, most institutions are deploying AI in specific areas such as customer support, compliance, transaction monitoring, and wealth management rather than replacing entire functions. Banks including Citigroup and Barclays report efficiency gains from AI tools, while digital-first firms such as Revolut are embedding AI directly into customer-facing products.

Yet uncertainty remains. Employment lawyers warn that automation could disproportionately affect middle-office and administrative roles, while some industry observers question whether companies are attributing workforce reductions to AI when broader cost-cutting may be the real driver.

Although major banks continue to recruit interns and graduates, many are seeking productivity gains without increasing headcount. As a result, breaking into finance is becoming more difficult just as AI begins to transform the nature of the jobs themselves.

Tyler Durden Mon, 06/08/2026 - 19:40

"Replacing Lower Value Human Capital": Banks Cut Staff As Recent Grads Face Off Against AI For Jobs

As AI reshapes banking, students entering the industry are confronting a double challenge: navigating AI-driven hiring processes today while wondering how many traditional finance jobs will remain tomorrow, according to Bloomberg.

Warwick University student Andre Bonnick, for example, spends hours preparing for automated screening interviews rather than conversations with human recruiters. While he hopes to secure a role in finance, he is also weighing options such as further study as entry-level opportunities become more competitive.

Industry leaders have been increasingly candid about AI’s impact on employment. JPMorgan CEO Jamie Dimon stated that the technology “will eliminate jobs,” while other bank executives have acknowledged that some roles may no longer be needed as automation expands. Standard Chartered CEO Bill Winters described the shift as “replacing in some cases lower-value human capital” with technology investments, comments for which he later apologized.

Bloomberg writes that the pressure is already visible at the junior level. Banks are reducing analyst intake programs and investing heavily in AI capabilities, leading many graduates to question the long-term stability of careers that were once viewed as secure and lucrative. Even so, experts argue that banks cannot eliminate junior hiring altogether because the industry still relies on developing future leaders through apprenticeship-style career paths.

For now, most institutions are deploying AI in specific areas such as customer support, compliance, transaction monitoring, and wealth management rather than replacing entire functions. Banks including Citigroup and Barclays report efficiency gains from AI tools, while digital-first firms such as Revolut are embedding AI directly into customer-facing products.

Yet uncertainty remains. Employment lawyers warn that automation could disproportionately affect middle-office and administrative roles, while some industry observers question whether companies are attributing workforce reductions to AI when broader cost-cutting may be the real driver.

Although major banks continue to recruit interns and graduates, many are seeking productivity gains without increasing headcount. As a result, breaking into finance is becoming more difficult just as AI begins to transform the nature of the jobs themselves.

Tyler Durden Mon, 06/08/2026 - 19:40

Eyewitness Testimony Undercuts Self-Defense Claim In Austin Metcalf Killing

Via American Greatness,

Testimony from multiple eyewitnesses cast doubt on Karmelo Anthony’s claim that he acted in self-defense when he fatally stabbed 17-year-old Austin Metcalf at a track meet.

Several student witnesses described a confrontation in which Anthony, 19, allegedly refused repeated requests to leave a tent occupied by students from Frisco Memorial High School before the encounter turned deadly.

One 17-year-old student-athlete testified that Anthony did not appear to be acting in self-defense.

According to the witness, Anthony kept his hands inside his backpack until Metcalf shoved him, at which point he allegedly pulled out a knife and stabbed the teen in the chest.

“That’s lethal force against non-lethal,” the witness told the court.

The testimony directly challenged a central argument advanced by Anthony’s defense team. Anthony has claimed that Metcalf and his brother, Hunter, confronted him together, forcing him to use the knife to protect himself.

However, the 17-year-old witness testified that he never observed the brothers ganging up on Anthony.

Other witnesses described an escalating confrontation after Anthony entered the Frisco Memorial team tent.

According to testimony, students repeatedly asked Anthony to leave, with one witness estimating that the requests were made as many as 15 times.

A 15-year-old witness told the court that Anthony “tried to provoke us” after being asked to leave. The witness later stated, “He committed murder.”

A 16-year-old student recounted that Anthony sat down inside the tent and attempted to start a conversation, allegedly saying, “Crazy weather, huh?”

Witnesses testified that members of the Memorial team then asked Anthony to leave. Instead, they said, he became increasingly agitated and refused to go.

According to testimony, Anthony responded by saying, “F–k y’all. I’m not going to leave.”

Witnesses further alleged that Anthony taunted the students, saying, “Y’all are a bunch of p–sies. Y’all not going to do anything. Touch me and see what happens.”

Several witnesses also testified that Metcalf sought to avoid a physical confrontation.

According to their accounts, Metcalf told Anthony, “I’m not going to fight you.”

One student offered a different version of events, testifying that Anthony had been invited into the tent by a teammate. However, the witness also stated there was no apparent reason for someone to bring a knife to a track event.

Tyler Durden Mon, 06/08/2026 - 19:15

Eyewitness Testimony Undercuts Self-Defense Claim In Austin Metcalf Killing

Via American Greatness,

Testimony from multiple eyewitnesses cast doubt on Karmelo Anthony’s claim that he acted in self-defense when he fatally stabbed 17-year-old Austin Metcalf at a track meet.

Several student witnesses described a confrontation in which Anthony, 19, allegedly refused repeated requests to leave a tent occupied by students from Frisco Memorial High School before the encounter turned deadly.

One 17-year-old student-athlete testified that Anthony did not appear to be acting in self-defense.

According to the witness, Anthony kept his hands inside his backpack until Metcalf shoved him, at which point he allegedly pulled out a knife and stabbed the teen in the chest.

“That’s lethal force against non-lethal,” the witness told the court.

The testimony directly challenged a central argument advanced by Anthony’s defense team. Anthony has claimed that Metcalf and his brother, Hunter, confronted him together, forcing him to use the knife to protect himself.

However, the 17-year-old witness testified that he never observed the brothers ganging up on Anthony.

Other witnesses described an escalating confrontation after Anthony entered the Frisco Memorial team tent.

According to testimony, students repeatedly asked Anthony to leave, with one witness estimating that the requests were made as many as 15 times.

A 15-year-old witness told the court that Anthony “tried to provoke us” after being asked to leave. The witness later stated, “He committed murder.”

A 16-year-old student recounted that Anthony sat down inside the tent and attempted to start a conversation, allegedly saying, “Crazy weather, huh?”

Witnesses testified that members of the Memorial team then asked Anthony to leave. Instead, they said, he became increasingly agitated and refused to go.

According to testimony, Anthony responded by saying, “F–k y’all. I’m not going to leave.”

Witnesses further alleged that Anthony taunted the students, saying, “Y’all are a bunch of p–sies. Y’all not going to do anything. Touch me and see what happens.”

Several witnesses also testified that Metcalf sought to avoid a physical confrontation.

According to their accounts, Metcalf told Anthony, “I’m not going to fight you.”

One student offered a different version of events, testifying that Anthony had been invited into the tent by a teammate. However, the witness also stated there was no apparent reason for someone to bring a knife to a track event.

Tyler Durden Mon, 06/08/2026 - 19:15

Xi Jinping Applauds Kim's 'Socialist Cause' In Warm North Korea State Visit

North Korean leader Kim Jong Un warmly greeted Chinese President Xi Jinping in Pyongyang Monday, kicking off Xi's two-day state visit to the internationally isolated country - which is his first trip there in seven years.

Xi has called for deepening "strategic coordination and cooperation" with North Korea shortly after receiving a lavish, red carpet welcome at the airport. The two sides should inject "powerful momentum" into their ties, Xi said according to a readout released by Chinese state media Xinhua.

Xinhua/ZUMA Press

The Chinese leader spoke of a friendship that was 'generational' with the DPRK, in advancement of the 'socialist cause'.

There is plenty that is ideological found within the official readout in the wake of the two leaders' initial meeting, per Xinhua:

No matter how the international situation changes, the Chinese party and government's firm stance on highly valuing China-DPRK traditional friendship will not change, the firm support for General Secretary Kim in leading the DPRK's socialist cause will not change, and the firm commitment to safeguarding the shared interests of the two countries and preserving a favorable strategic environment will not change, Xi said.

Xi pointed out that, in the face of the profound changes unseen in a century that are accelerating across the world, the two sides should take a broad and long-term view, build on past achievements and open up a new future, draw wisdom from the development process of the relations between the two parties and the two countries, seize opportunities in the prevailing trend of human history, inject new contemporary connotations and strong impetus into the traditional friendship between China and the DPRK, and open up a brighter prospect for the socialist cause of the two countries as well as regional peace and development.

This cooperation is expected to be on several fronts, including economics and trade, agriculture, health, construction, as well as science and technology, Xi underscored.

Kim along with his first lady, Ri Sol Ju, enthusiastically greeted Xi and were shown clapping as the Chinese presidential plane touched down earlier in the day. Huge portraits of Xi and Kim have been installed over Pyongyang's main Kim Il Sung Square, where Xi's motorcade was also greeted with big displays of pageantry, including a mounted cavalry escort.

NBC has some interesting commentary which points out that Kim is in a rare position of strength based on some recent firm, anti-West geopolitical stances taken and maintained:

But the North Korean leader is playing host from a position of rare strength, and his country has come a long way since Xi Jinping’s last visit seven years ago.

Kim’s backing of Russia’s war with Ukraine has paid dividends, his weapons program has cemented North Korea’s status as a de facto nuclear state, and an economy that buckled under the pressure of pandemic isolation and sanctions has since rebounded.

Indeed, Kim has of late been aggressively hyping his country's nuclear modernization and expanse program. There's not doubt he's also closely following and taking notes on the Iran crisis. 

WATCH: Xi Jinping landed in Pyongyang for his first North Korea visit in nearly seven years.

Kim Jong-un rolled out the red carpet personally, greeting Xi and Peng Liyuan with a full honour guard. pic.twitter.com/9X9kK44No0

— Clash Report (@clashreport) June 8, 2026

Iran, which does not yet have nuclear weapons status, has been attacked by the United States and Israel - and so Pyongyang sees its nuclear expanse path as more justified than ever at this point, also given Washington still views North Korea as a 'pariah' state.

Another interesting development mentioned in state media relates to efforts to open borders: "Xi called on both sides to leverage the opportunity of the full reopening of border crossings and the resumption of civil aviation flights and international passenger trains to increase people-to-people exchanges and foster mutual interaction," wrote Xinhua.

Tyler Durden Mon, 06/08/2026 - 18:50

Xi Jinping Applauds Kim's 'Socialist Cause' In Warm North Korea State Visit

North Korean leader Kim Jong Un warmly greeted Chinese President Xi Jinping in Pyongyang Monday, kicking off Xi's two-day state visit to the internationally isolated country - which is his first trip there in seven years.

Xi has called for deepening "strategic coordination and cooperation" with North Korea shortly after receiving a lavish, red carpet welcome at the airport. The two sides should inject "powerful momentum" into their ties, Xi said according to a readout released by Chinese state media Xinhua.

Xinhua/ZUMA Press

The Chinese leader spoke of a friendship that was 'generational' with the DPRK, in advancement of the 'socialist cause'.

There is plenty that is ideological found within the official readout in the wake of the two leaders' initial meeting, per Xinhua:

No matter how the international situation changes, the Chinese party and government's firm stance on highly valuing China-DPRK traditional friendship will not change, the firm support for General Secretary Kim in leading the DPRK's socialist cause will not change, and the firm commitment to safeguarding the shared interests of the two countries and preserving a favorable strategic environment will not change, Xi said.

Xi pointed out that, in the face of the profound changes unseen in a century that are accelerating across the world, the two sides should take a broad and long-term view, build on past achievements and open up a new future, draw wisdom from the development process of the relations between the two parties and the two countries, seize opportunities in the prevailing trend of human history, inject new contemporary connotations and strong impetus into the traditional friendship between China and the DPRK, and open up a brighter prospect for the socialist cause of the two countries as well as regional peace and development.

This cooperation is expected to be on several fronts, including economics and trade, agriculture, health, construction, as well as science and technology, Xi underscored.

Kim along with his first lady, Ri Sol Ju, enthusiastically greeted Xi and were shown clapping as the Chinese presidential plane touched down earlier in the day. Huge portraits of Xi and Kim have been installed over Pyongyang's main Kim Il Sung Square, where Xi's motorcade was also greeted with big displays of pageantry, including a mounted cavalry escort.

NBC has some interesting commentary which points out that Kim is in a rare position of strength based on some recent firm, anti-West geopolitical stances taken and maintained:

But the North Korean leader is playing host from a position of rare strength, and his country has come a long way since Xi Jinping’s last visit seven years ago.

Kim’s backing of Russia’s war with Ukraine has paid dividends, his weapons program has cemented North Korea’s status as a de facto nuclear state, and an economy that buckled under the pressure of pandemic isolation and sanctions has since rebounded.

Indeed, Kim has of late been aggressively hyping his country's nuclear modernization and expanse program. There's not doubt he's also closely following and taking notes on the Iran crisis. 

WATCH: Xi Jinping landed in Pyongyang for his first North Korea visit in nearly seven years.

Kim Jong-un rolled out the red carpet personally, greeting Xi and Peng Liyuan with a full honour guard. pic.twitter.com/9X9kK44No0

— Clash Report (@clashreport) June 8, 2026

Iran, which does not yet have nuclear weapons status, has been attacked by the United States and Israel - and so Pyongyang sees its nuclear expanse path as more justified than ever at this point, also given Washington still views North Korea as a 'pariah' state.

Another interesting development mentioned in state media relates to efforts to open borders: "Xi called on both sides to leverage the opportunity of the full reopening of border crossings and the resumption of civil aviation flights and international passenger trains to increase people-to-people exchanges and foster mutual interaction," wrote Xinhua.

Tyler Durden Mon, 06/08/2026 - 18:50