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Thursday, October 1, 2026

India’s Essar Group to invest $18 billion in US, build largest steel plant in American history




This is interesting because it is huge and must use a great deal of energy. The iron ore comes from Wasabi of course which is close by.  They are not using metalurgical coal which historically established mill locations.  They are looking at electrical arc furnaces which means serious power.  This could come  from the sault and their hydro plants.  or alternately from new nuclear plants.  

it is not taked about.  I wonder why as tnhis is no small thing.

something does not make sense yet.  total Esser Revenue is 15 billion.  this suggests they will want partners as well  and this is timely PR for the political game.


India’s Essar Group to invest $18 billion in US, build largest steel plant in American history

India’s Essar Group will build a $15 billion steel plant in Iowa through Mesabi Metallics, taking its planned US investment to $18 billion

US President Donald Trump speaks with Mesabi Metallics Chairman of the Executive Board Rewant Ruia, and co-founder and vice-chairman of the Essar Group Ravi Ruia. File/Reuters
FP Business Desk|Sep 29, 2026, 05:51:51 IST

https://www.firstpost.com/business/india-essar-group-us-iowa-steel-plant-14048936.html

India's Essar Group plans to invest a total of $18 billion in the United States, including a $15 billion steel plant in Iowa, US President Donald Trump said as he unveiled the project at the White House.

The steel complex will be developed by Mesabi Metallics, a US company owned by Essar Group. The project is expected to become one of the largest steel plants in the United States, with production eventually reaching 10 million tonnes a year.

The first phase of the plant is expected to produce 7.5 million tonnes of steel annually. First steel production is targeted for 2030.

The Indian conglomerate has already invested more than $2.5 billion in Mesabi Metallics' iron ore project in Nashwauk, Minnesota.

The Minnesota operation has started its initial operations and is the first new iron ore mine and pellet plant to begin operating in the US in about 50 years, according to Essar. The company expects the facility to produce up to 7 million tonnes of direct reduction grade iron ore pellets a year when it reaches full capacity.

The planned Iowa plant is designed to create an integrated US steel supply chain.

Mesabi Metallics will use iron ore produced at its Minnesota mine as feedstock for steelmaking in Iowa. The company says this will allow the supply chain to run from mining and processing to steel production within the US.

Rewant Ruia, chairman of Mesabi Metallics, thanked Trump for supporting domestic manufacturing.

"Thank you, US President Donald Trump, for bringing back the importance of building things in America," Ruia said, adding that the Iowa project would complete a fully integrated American supply chain.

Essar described Mesabi as a strategic investment aimed at supplying high-grade iron ore for modern steelmaking in North America. Its Minnesota operation is located on more than 16,000 acres and has a planned pellet production capacity of 7 million tonnes a year.
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Thousands of jobs expected

The Iowa project is expected to create at least 1,750 permanent jobs, while the first phase could support up to 6,000 construction jobs, according to the White House.

The White House has estimated that the first phase could generate about $95 billion in economic impact during construction and its first 10 years of operation.


The project comes as the Trump administration seeks to expand domestic manufacturing and reduce US dependence on imported industrial materials.

Trump has made steel production and manufacturing a central part of his economic policy. His administration has imposed higher tariffs on imported steel, arguing that trade barriers will encourage companies to invest and produce more in the US.

"Everyone's building their plants here because they don't want to pay tariffs," Trump said at the White House event, according to The Associated Press.

Essar's growing US footprint

The new steel project adds to Essar's wider investments in the US.

The group has said its US strategy includes metals and mining as well as technology and infrastructure. Its Mesabi investment is focused on producing direct reduction grade iron ore pellets that can be used in electric arc furnace steelmaking.

Essar said in September that the US Export-Import Bank had offered up to $10 billion in financing for the expansion of Mesabi Metallics. The company's Minnesota project currently employs more than 200 people and is expected to employ about 350 more when it reaches full capacity.

The investment also comes as the US seeks to strengthen domestic supplies of materials considered important for manufacturing, infrastructure, automobiles, shipbuilding and defence.

The Iowa plant is expected to be built in phases, with production eventually reaching 10 million tonnes of steel a year. The project will need to move through construction and development stages before commercial steel production begins in 2030.

The Evil Within, Part 4: The Welfare State





The usual diatribe barking about the so called welfare system as if a free fall into total barbarism is a better choice.


We do not get it completely right.  But we are much closer than any historic alternative.  Again government prints money, spreads it around as best it can, then taxes it back in order to produce real demand.  by using banks to lend it out to best operators we create contracts which must be honored with way more money than originally lent.  this also produces demand.

In this scenario, it makes best practise to ensure the base, representing today perhaps even ten percent of the population is well taken care off because everyone else will do better.  The natural multiplyer starts with the base.  A base of zero produces the Great Depression.  arguing for zero is brain dead.



The Evil Within, Part 4: The Welfare State


https://www.fff.org/explore-freedom/article/the-evil-within-part-4-the-welfare-state/

The welfare-state way of life has become such a normalized and accepted part of America’s governmental system that Americans have come to see it as an essential aspect of the “free” society in which they have been born and raised and in which they live. In actuality, the welfare-state system that has been grafted onto America’s original federal governmental structure is one of evil’s greatest triumphs, not only with respect to the seemingly permanent nature of this system but, more importantly, because of the overwhelming support of people who hew to religious principles.

The welfare-state system is based on a simple principle: Use the federal government’s power to tax to take money from one group of people and give the money to another group of people. It is an ingenious system from the standpoint of evil because it creates the appearance that people are helping people. The welfare state, Americans are told, reflects how good, caring, and compassionate they are. By simply living in the United States as American citizens — and, even better, participating actively in the political process by voting — Americans are fulfilling what Jesus called God’s second-greatest commandment — “Thou shalt love thy neighbor as thyself.”

There is one great big problem with this system, however: It is founded on force. The payment of taxes is not voluntary. Refuse to pay your taxes and you will soon find yourself in a federal prison, perhaps for the rest of your life. The incarceration of a noted tax resister named Irwin Schiff comes to mind. When he got terminal cancer and asked for a mercy release from prison so that he could die among his family, federal officials said no. He was forced to die in prison for having committed the cardinal sin of refusing to pay his income taxes.


Thus, the welfare-state system is not a voluntary system. It is a system that coerces people to care for others. That is precisely the opposite of God’s system, which is based on the choices that people willingly make in the exercise of free will, which is the great gift that God has bestowed on every human being.

In other words, under God’s system, people have a choice as to whether to help others or not. They can choose to help someone in need, or they can refuse to do so. That’s what genuine free will is all about — the right to say either yes or no. God entrusted mankind with that enormous range of freedom. Under God’s system, no one is forced to care for another person. The choice is always voluntary.

That’s where conscience, which is another God-given gift, comes into play. When people are faced with choices on whether to help another person, they begin to exercise their consciences. Should I help that person or not? To what extent should I help him? For how long should I help him? With everyone exercising his conscience on a regular basis, the overall sense of morality in society tends to rise.

But keep in mind that under God’s system, people always have the right to say no. They have the right to turn their backs on their neighbors, their parents, their family members, the poor, the needy, their churches, and everyone else. That’s what genuine freedom and free will are all about.

God’s “mistake”

Evil has essentially convinced people that God made a mistake. He should have never entrusted people with so much freedom. If He had known that so many people would exercise their free will in a bad direction, He never would have entrusted them with such a wide range of freedom.

Thus, they say, the purpose of the welfare state is to correct God’s “mistake” by ensuring that everyone helps others. In this way, there is 100 percent participation on the part of the citizenry. Most everyone pays taxes, and even if they don’t, they live under a welfare-state system that applies to everyone. Under a welfare state, every citizen helps others, whether he wants to or not.

In the process, people have come to believe that the welfare state is fulfilling God’s sacred commandment about loving one’s neighbor. Actually, however, it’s the opposite. The welfare state denigrates God’s great gift of free will by destroying it. Remember: What matters under God’s system is that people have the right to choose, one way or another. The welfare state destroys that right of freedom of choice.

The welfare state is often described as a “safety net.” It is intended to help people who “fall through the cracks” because people chose not to help them out. In other words, it serves to correct the “imperfections” of God’s system of free will.

But God doesn’t make mistakes, and His system does not need “corrections” from the government, especially “corrections” that use coercion to destroy free will. God knew precisely what He was doing when He vested man with free will. He understood fully the trust He was placing in human beings.

Social Security

The crown jewel of America’s welfare state is Social Security, a socialist system that originated among socialists in Germany in the latter part of the 19th century. It is important to note that Social Security formed no part of American society when the Constitution created the federal government. Moreover, Americans lived for more than 150 years without this socialist program. Social Security wasn’t grafted onto America’s federal governmental system until the 1930s, under the regime of President Franklin D. Roosevelt.

Many Americans have convinced themselves that Social Security is a forced savings and retirement program, one in which the federal government taxes people, puts their money into an interest-bearing account, and then gives them their money back with interest when they reach the age of 65.

That belief is entirely self-delusion. In reality, Social Security is no different from any other welfare program. It is based on taxing the young and productive and giving the money to the elderly. In other words, no one’s money is taxed and put into an interest-bearing account. The money is spent almost immediately after the tax revenue hits the government’s coffers.

Heaven help anyone who objects to this crown jewel of American socialism. He will be reviled and condemned for being selfish and self-centered and for hating the poor, needy, and disadvantaged. After all, who can object to helping people in their last stage of life, especially if they have no savings?

Moreover, let’s not forget another of God’s sacred commandments: Thou shalt honor thy mother and father. Thus, Social Security, people are told, taxes children and gives the money to their parents and grandparents. Who can object to that?

Anyone who values God’s great gift of free will can — and should — object to it. Again, under principles of free will, people have the right to decide for themselves whether to honor their mother and father. They have the right to decide whether to help aging parents and grandparents with financial assistance, medical care, personal expenses, and everything else. As part of that process, they have the right to say no — to refuse any help whatsoever.

That’s what God’s gift of free will is all about — the right to say either yes or no. By forcing young people to care for seniors, Caesar’s use of coercion with respect to Social Security denigrates and destroys God’s gift of free will.

Social Security also tends to stultify conscience, which is another of God’s great gifts to mankind. By forcing everyone to participate in this socialist system and other welfare-state programs, people have less need to exercise conscience. They essentially render their conscience to Caesar, dutifully pay their taxes, and convince themselves that they are helping the poor, needy, and disadvantaged.

There is another factor to consider: When children voluntarily help parents in need, there is tremendous meaning to such help, especially in terms of love that children have for their parents. Aging parents give children the opportunity to say “thank you” for all that parents did in raising them and giving them a start in life. Helping a gravely ill or dying parent, for example, can be a deeply fulfilling experience.

Not so with Social Security, however. There is no deep meaning involved with payment of taxes that are then converted into a Social Security payment sent by Caesar to one’s parents.

End evil and restore faith

The question naturally arises: What should be done with Social Security? After all, many seniors are dependent on the money. Some seniors have no family, or they have family who wouldn’t help them out.

There is one — and only one — approach that one can take when it comes to evil: End it, immediately. Evil is never necessary. God does not need evil — or the continuation of evil. God’s system is based totally on the voluntary choices that come with free will.

Obviously, this requires the restoration of faith in God’s system — a faith that has been severely damaged by American socialism. Ending evil immediately will not result in catastrophe, as so many have been taught to believe. Most children would help their parents, especially since they now will have all that money that is being taxed from them to fund the welfare state. For those cases where there is no family, or where family members will not help, there are friends, relatives, neighbors, church groups, and foundations. In fact, one can easily imagine someone forming “The Foundation for Former Social Security Recipients,” which would undoubtedly be generously funded by donations.

All that the eradication of evil requires is a restoration of faith in God and in God’s system of free will. Is that easy? Of course not, especially given the damage that the welfare state has done to faith in God and faith in God’s gift of free will.

Medicare and Medicaid

These principles apply, of course, across the board — to all welfare-state programs — Medicare, Medicaid, food stamps, corporate bailouts, farm subsidies, and all the rest. They are all based on the coercive apparatus of Caesar. Evil justifies all of them by employing God’s commandments, which makes the evil even worse.

Medicare and Medicaid are instructive in this regard. I grew up in the 1950s in Laredo, Texas, which is located on the U.S.-Mexico border. Laredo was one of the poorest cities in the United States. This was before Medicare and Medicaid were adopted in the 1960s.

Hardly anyone had medical insurance. That’s because they didn’t need it. Healthcare costs were low and stable. Going to the doctor was like going to the grocery store. Then along came Medicare and Medicaid and healthcare costs began soaring through the roof. The entire healthcare industry fell into perpetual chaos.

But people don’t want to recognize that the root cause of America’s decades-long, ongoing, never-ending, perpetual healthcare crisis is the evil cancer of healthcare socialism that has been grafted onto the body politic. Most everyone remains convinced that evil can be made to work if only the right reform will be discovered.

But the right reform will never be discovered because evil will never be made to work. Socialism is an inherently defective system.

Before Medicare and Medicaid, doctors’ offices in Laredo were filled every day, mostly with poor people — people who couldn’t pay the doctor. The doctors knew that. Nonetheless, they never turned away anyone. They felt that it was their moral and ethical duty to treat everyone, including the poor. They did so willingly — as an exercise of free will. No one forced them to do so. Nonetheless, the doctors were among the wealthiest people in town. The money that doctors received from people who could pay was more than sufficient to compensate for those who couldn’t pay.

That’s the faith that most Americans have lost — the faith in freedom, free will, and free markets. That’s what the evil of socialism has done to Americans.

There is no Medicare or Medicaid for dental work. Before he retired, my dentist got together with other dentists and provided free dental care to the poor on one day per week, on a rotating basis. No one forced them to do so. It was entirely voluntary. I’ll bet that if one did a survey of dentists across America, it would reveal that many, if not most, dentists provide some degree of free dental care to the poor even though no one forces them to do so.

Socialism has proven to be the bane of mankind. Not only has it destroyed economic liberty, it has also impoverished people, both economically and spiritually. Worst of all, it has enabled evil to triumph in America, especially with the ardent support of believers in God.

Surgeon at Hospital That Treated First U.S. COVID Patient Claims Fraud, Deadly Protocols and Retaliation





I am not part of te system, but i came to these same conclusions as well in January from other bits of conforming evidence.

now here is the eye witness receipt.

The perps cotinue to fend off the tightening noose of judicial inquiry.  this was attempted bgenocide that may well have been diluted stage left.  After all if you knew the code, you could take the placebo.  this also informs us that victims were often chosen.  hello Nuremburg.  will this end with fauci hanging from a rope?

Surgeon at Hospital That Treated First U.S. COVID Patient Claims Fraud, Deadly Protocols and Retaliation

 — Says Infectious Disease Chief Worked With State to “Restrict the Civil Rights of Unvaccinated People”


Sep. 28, 2026 5:40 pm

https://www.thegatewaypundit.com/2026/09/surgeon-hospital-that-treated-first-u-s-covid/

A trauma surgeon who worked inside the Washington hospital that treated the first diagnosed COVID-19 patient in the United States dropped a political grenade on Capitol Hill Monday.

Dr. James P. Miller told Sen. Ron Johnson’s (R-WI) roundtable, “COVID-19 Hospital Protocols: Real Stories from Real People,” that the head of infectious disease at his hospital privately admitted he was working with state government to restrict the civil rights of unvaccinated Americans.

“The head of infectious disease medicine at my hospital privately told me that he was working with the state government to restrict the civil rights of unvaccinated people,” Miller said.

“Including their ability to drive and therefore work, by making their driver’s license renewal contingent on their COVID vaccine status.”


That is not a conspiracy theory from a comment section. That is a licensed physician and surgeon, under oath in the Senate, describing what he said he heard from the man running infectious disease at Providence Regional Medical Center in Everett, the same hospital that treated “Patient Zero” in January 2020.

In a sworn attestation Miller previously filed for criminal investigations, he identified that official as Dr. George Diaz and said Diaz told him unvaccinated people should not be allowed to engage in society or hold a driver’s license, and that Diaz claimed he was working with the Washington governor’s office to turn that view into state policy.

Those remain Miller’s allegations. Diaz was the public face of Everett’s first-case response and an early champion of remdesivir.


The hospital that launched the national panic, and the doctor who says the panic was manufactured.

Miller was a staff surgeon and ICU provider at the Everett hospital. He also contracted independently to perform ICU quality reviews. What he found, he told Johnson’s panel, was not a heroic system stretched to the breaking point. It was fraud, fear theater, and protocols that killed.

He said his reviews uncovered fraud extending to senior hospital leadership. He reported it. Then the retaliation started.



After federal authorities sent remdesivir to the hospital, Miller said medical leadership handed physicians “misleading and inaccurate information” about the drug. When a young trauma patient looked like a textbook candidate under the official guidelines, the infectious disease doctor on call told him privately not to give it to her, because, quote, “she seemed like a nice girl.”

“Any physician honestly reviewing the real-world data at that time could have recognized early that remdesivir caused more harm than good,” Miller testified.

Read his statement below:


“During COVID-19, I was a staff surgeon, ICU provider at the hospital where the first diagnosed COVID patient in the United States was treated. I cared for hundreds of COVID patients and also contracted independently to perform ICU quality reviews at the hospital, in addition to my surgical and ICU duties as a physician.



My reviews uncovered fraud extending to senior hospital leadership. I reported these findings. There were protocols put in place that caused—thank you—that caused demonstrable harm and increased mortality.

After our hospital was given remdesivir by federal authorities, we were provided misleading and inaccurate information about the drug by medical leadership. When I had a young trauma patient just after remdesivir was released, she appeared to be a perfect candidate based on the guidelines. The infectious disease doctor on call told me privately not to give it to her because, quote, “She seemed like a nice girl,” unquote.

Any physician honestly reviewing the real-world data at that time could have recognized early that remdesivir caused more harm than good.

I observed messaging by the hospital that falsely inflated COVID infections and deaths, contributing to public fear and generating misleading headlines. In my experience, we never faced shortages of equipment or staff. I witnessed nurses being sent home because there were not enough patients, while headlines about our hospital were simultaneously running, stating that we were overwhelmed by COVID patients.

I further observed that mask and PPE protocols initiated during COVID lacked scientific basis and did not medically work, but the mask and PPE protocols did dehumanize patients and staff.


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I witnessed patients who died from trauma and other causes being reported as COVID-19 deaths on their death certificates. I watched previously compassionate and devoted doctors and nurses become cruel and ambivalent about the well-being of patients as the COVID experience evolved.


The head of infectious disease medicine at my hospital privately told me that he was working with the state government to restrict the civil rights of unvaccinated people, including their ability to drive and, therefore, work, by making their driver’s license renewal contingent on their COVID vaccine status.

Hospital leadership, including the chief medical officer of our medical group, endorsed the local medical establishment’s refusal to provide healthcare to unvaccinated patients. Primary care and urgent care physicians refused to see unvaccinated patients with the chief medical officer’s knowledge and approval, through policy.

In response, I opened a free clinic to care for those denied care through my local church. The church became a licensed clinic.



I observed that many of the alternative treatments that were censored by medical societies, pharmacists, social media, the press, and established health agencies were highly effective. Treatments including ivermectin, hydroxychloroquine, vitamin D, zinc, quercetin, and just physical exercise were highly effective at treating COVID.

When I advocated for patient care rather than harmful protocols and spoke against the fraud, I was targeted for removal through baseless disciplinary actions, with a stated goal of taking away my medical license and ability to ever practice medicine again.

I endured countless unfounded disciplinary hearings, show trials, and sham peer review procedures, which included the threat of me being arrested. This was all in retaliation for me speaking out.



I defeated every attack. I remained in good standing, and I told the truth.

I witnessed physicians and nurses who observed the harms done by the COVID protocols either remain silent or be forced out of our community.

The public health officials, hospital leaders, and physicians who implemented these treatments and protocols should be held accountable. The data were available, and the harms were obvious.


Accountability is necessary if we’re going to maintain public trust and a functioning healthcare system.”


The Gateway Pundit has been screaming this for years while ABC tried to dress the same failed Ebola drug up as a “miracle cure.”

In December 2024 TGP reported that a coalition of more than 30 attorneys representing over 1,500 remdesivir victims sent ABC a cease-and-desist after the network’s medical drama portrayed the drug as a wonder treatment.

Those lawyers say patients were coerced under Emergency Use Authorization, denied informed consent, and left with kidney injury, liver damage, and death.


Nurses on the floor had their own name for it. As TGP reported in 2021 from a Cleveland Clinic whistleblower, staff called remdesivir “Run, Death Is Near.” Patients were intubated early, cheap generics were blocked, and a $5,000-a-bag antiviral that shut down organs became “standard of care.”

Even the World Health Organization eventually told hospitals not to use remdesivir in hospitalized COVID patients, citing little or no effect on mortality, a fact Fox News reported in November 2020. The federal machine kept pushing it anyway. Gilead cashed the checks.

Sen. Johnson has already put the body count on the record. In a July hearing with Anthony Fauci, Johnson cited adverse-event data showing remdesivir logged 2,751 reported deaths over 69 months, and he accused the NIH treatment panel of being stacked with members who had financial ties to Gilead. Fauci took the Fifth. you find these

Elon Musk Makes A Move On The Banks




Wake up and smell the roses.  this is global banking emerging and understand that the banks have never given up a penny they could avoid.

now recall that they make their money producing loans several times the money at hand. Soobviusly paying a premium rate is offset by one loan, while they go on to produce as many as forty more and collecting initiating fees from the money created.

The actual losss rate is around 0.5% across the portfolio.  a bank prints money and pays itself first.  Yet they have conned us into accepting almost no interest.  just ten percent of their interest take would be 20%.

what Elon is now building is an alternative system under the regulatory radar system that can shift into the BANKing SPACE when and if the USA dollar actually collapses.

Elon Musk Makes A Move On The Banks


Tuesday, Sep 29, 2026 - 12:00 PM


https://www.zerohedge.com/technology/elon-musk-makes-move-banks

When Elon Musk took over Twitter, fired four out of five employees, and rebranded it X (just because he thought it sounded cool), the talking heads predicted doom for the company. The opposite happened. It is now one of the most popular sources of news in the world, and a major delivery system for what social media is supposed to be.


He always had more in mind. He explained at the outset that he wanted to turn X into the "everything app." I winced when I heard those words. As someone who worked in web development for years, I learned to regard every promise of a "one-stop shop" to be foolish. It never happens. Best to pick one thing you do well and stick with it.

To my own amazement, X is indeed taking steps toward being the Everything App. Not yet, of course, but the advent of his X Money platform is major and serious. It is being rolled out gradually to premium members. Under the new content-creators payout program, people are paid within the app and invited to use the service for transferring money.

Described thusly, it would seem to be another version of Zelle or Venmo and therefore not that much to notice, much less celebrate. But when you look at the details of what X Money is doing, another reality emerges. It would appear that this app is making a move on the banks themselves.

The evidence is on the app now. It offers a way to link your paycheck to X Money to enjoy a quicker payout than if your paycheck flows to your bank account. Speed is one thing, and a good thing, but why else would you do this?

The key comes in the details which have not been advertised (Musk doesn't like old-style marketing). These are not regular dormant cash accounts like you get in a regular checking account. They pay a return. Not just any return. The return is higher than you would otherwise get in a normal money market.

For now the Annual Percent Yield (APY) is an eye-popping 6 percent as an initial customer-acquisition rate.

Not only that, the X Money card that comes digitally with the service (and physically on the ask) offers fully 3 percent cash back.

A high rate plus instant peer-to-peer transmission, a metal Visa card with 3 percent cash back, and early direct deposit is meant to pull balances and daily activity onto the platform.

What you notice from these terms is that this goes way beyond a mere money-transmission service. What's being provided here, with quick and easy signups, is a highly lucrative vehicle for serious investment. Put your cash in and have it earn 6 percent. That beats inflation. With 3 percent cash back, you are way ahead of the game. That is reason enough to switch.

As a user I immediately found myself in a bind. Initially I thought I would enjoy spending my X Money on groceries and movie tickets or something along those lines. But with this level of earning power, I will lose money if I do that. I would be forgoing the return from the money held. Better to use the cash in my bank or my credit card that also pays 3 percent cash back.

The calculation here favors keeping the money in X Money, not spending it. Indeed, the calculator favors moving cash from banks into X Money and earning the return. To be sure, that 6 percent could change in a year or two or three. It would be up to how the app is managed.

Meanwhile, do you understand what this means? It means an actual reward for ... saving money! Imagine that. Cash that earns a return on an app that allows peer-to-peer transfer at zero cost. This is disruptive innovation of the sort we've come to expect from this man and his companies.

Elon has designated the X Money app for now to be a loss leader in direct revenue but a huge investment in becoming what he likely thinks it can be in the long run: an actual option to the banks.

There might even be more afoot here. The banking rails themselves are provided by Cross River Bank. Founded in 2008, the bank carved out a special niche in working with new digital companies that focus on in-app service provision and edgier products like cryptocurrency. It is FDIC-insured but eschews traditional banking in favor of innovation. Even with its smaller capitalization, it is an ideal partner for a disruptive technology like X Money.

Recall too that Elon Musk was one of the founders of PayPal. It was started with a high hope of developing a new form of money transmission and even a new form of money. It eventually found itself regulated out of that vision to become what it is today, which is a highly valued means of payment for the digital age.

X Money seems to learn from mistakes made in those days to build out fully banking services from the very foundation. With the inclusion of crypto as part of the banking rails, we can easily imagine a future in which X Money integrates with a service like Coinbase to move money from dollars to crypto and back again.

One thing that is notable to me is the effortlessness of the signups and verifications. The developers have learned that customers recoil at too many screens, too much language, too many aggressive demands for passwords and accounts. They are using the latest technology to make signups and management extremely easy and clean.

That said, X Money does of course comply with all the arduous federal regulations concerning Know Your Customer laws and tax-reporting requirements. This is by no means an app that places a premium on your privacy. Even to make it work requires government IDs and 3D facial scans from our phone. I despise all of that while also understanding that this is the price any financial entrepreneur pays to make anything innovative these days. X Money is compliant across the board, which, from my point of view, is unavoidably regrettable.

It's entirely possible that Elon has a big vision for this platform that he has not yet shared. Indeed, I'm struck by how much of the system that he has built so far has not been advertised at all. It's extremely interesting how the rollout is going. The app presents direct information to the customer screen by screen, the pitch, the conditions, the advantages. Normal advertising speaks to the masses; Elon's way is to speak to the individual user. It's very different.

We can imagine two polar opposite futures with this new service.

Optimistically, it becomes the innovator of a new form of money and monetary services that eventually replaces paper money and even the dollar.

Remember that the app is global. What if the assets of X and other companies emerge as the asset baking of a new form of currency?

Pessimistically, X Money becomes just another new layer of the emergent financial control grid that spies on us and even worse: the integration of money and social media reminds one of China's Social Credit System. This future sometimes feels baked into the technologies we use and the deep relationship of tech companies and the government.

Which will it be? We do not know. But from what I can see, there is a strong rationale for expecting this platform to be a major player and going concern in the future world of money and finance.