September 2010.

n 1942, Franklin Roosevelt asked every family in America to donate their scrap metal. Pots, pans, car bumpers, iron fences. Kids pulled old radiators out of basements and piled them on the curb. The country was at war, and it needed every ounce of steel it could find.

Eighty-four years later, the White House is making the same case. Only this time, the scrap is inside your dead phone. On July 30, President Trump signed an order under the Defense Production Act. It gives Commerce Secretary Howard Lutnick the power to block exports of what the White House calls "recoverable critical minerals and materials."

That means black mass from old batteries. Dead rare earth magnets. Swarf — the fine metal shavings left over when magnets get cut and shaped. Any junk that holds critical minerals.

The logic is simple. The U.S. already sits on huge amounts of rare earths. They're locked inside phones, laptops, EV battery packs, and retired military gear. But instead of recovering them at home, much of that scrap gets shipped overseas — often to China.

There it's refined and sold right back to American buyers at a markup. The new order is designed to stop that loop.

That's because new mines take years to build. The Pentagon knows this. So does Trump.

Ten days before the export ban, he signed a separate order cutting off defense contractor waivers. Starting January 1, 2027, weapons makers can no longer buy rare earths, magnets, tungsten, or tantalum from China, Russia, Iran, or North Korea. If a company can't show it tried to buy from friendly nations, it risks losing the contract. Full stop.

Which means the clock is running. Defense firms are five months away from a hard deadline. Domestic magnet output is still a tiny share of what the military needs.

Recycling is the fastest way to close the gap. A Cirba Solutions survey this month found that 84% of Americans would recycle old electronics if they knew it helped cut foreign mineral imports. The demand is there. The supply is sitting in desk drawers and dumps across the country.

The question now is speed. Commerce still needs to write the rules that turn this order into real export controls. That could take months. But the direction is clear.

Think about what just happened in ten days. On July 20, Trump told defense firms they can no longer hide behind waivers to buy Chinese minerals. On July 30, he told the rest of the country to stop shipping its mineral scrap out the door.

Two orders. One message. Keep it here.

Washington spent years talking about building a rare earth supply chain from scratch. Now it's trying to keep the minerals it already has from leaving the country. The scrap drive is back. The stakes are higher.

Something strange is happening to your money.

It wasn't voted on. It wasn't debated in the Senate. And most Americans have no idea it's even taking place but…

President Trump is replacing the U.S. dollar.

Not with crypto. Not with a digital currency. Something far bigger than that – and it's already been signed and sealed in the back rooms of D.C., ready to be issued by the U.S. Treasury.

Bypassing every legal and political channel under the guise of "national security," Trump has enacted this total money reset using a landmark executive order (1421).

Whether you’re a Democrat or Republican, whether you support this new money or not, it doesn't matter.

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As you’ll see in my briefing, the last time America reset its money like this – under Richard Nixon’s presidency in the 1970s – it created one of the greatest wealth divides in the history of our nation.

On one side, it minted an average of 1,300 new millionaires a day for over half a century. And on the other… the folks left behind, drowning in debt, with no idea how to use America’s new money to create wealth.

As Trump rolls out his new dollar, the question is:

Which side will you be on?

On July 21, electronics recycler ERI and Cyclic Materials signed a deal to build one of the biggest rare earth recycling systems in the country. ERI handles more than a million pounds of e-waste a day across eight plants. Under the deal, it will sort and prep old electronics that hold magnets, then send them to Cyclic Materials for rare earth recovery.

The oxides go right back into new magnets. Keep the minerals here. Process them here. Use them here. That's the whole idea behind the White House export ban — and this deal shows the model already taking shape.

USA Rare Earth closed a deal on July 23 to buy a 13.6% stake in Carester, a French rare earth processor. InfraVia's Critical Metals Fund took a matching share. Carester's Caremag plant in Lacq, France, is set to come online in late 2026. It will be the hub of a new European rare earth system.

The deal gives Carester access to ore from USA Rare Earth's Serra Verde mine in Brazil and Round Top in Texas. That's two mines on two continents feeding one refining plant in France — a supply chain built to skip China.

Bloomberg reported that China shipped about 20% fewer rare earth magnets to the U.S. in the first half of 2026. That's compared to the 2022–2024 average, before Beijing cut supply during the tariff war. The truce was meant to fix this. It hasn't.

At the same time, Chinese magnet exports to Europe jumped 28% in the first two months of the year. Europe's share rose to 44% of China's total magnet sales. More magnets to Europe. Fewer to America. The U.S. has less to work with either way.

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Howard Lutnick, U.S. Secretary of Commerce — Senate testimony on FY2027 budget
April, 2026

If you've ever had an MRI scan, gadolinium helped make the image. Doctors inject it because it lights up soft tissue that would stay hidden without it. It also soaks up neutrons better than almost any other element. That makes it key for nuclear reactor control rods.

China put gadolinium on its 2025 export control list along with samarium, terbium, and dysprosium. The metal trades at about $61.73/kg on the SMM benchmark as of July 1, 2026, up 12.8% from June. Easy to miss — until you can't get it.

REalloys (NASDAQ: ALOY) and South Korea's JS Link (KOSDAQ: 127120) signed a letter of intent on July 7. The plan: build a full rare earth magnet supply chain in North America. Raw material, refining, metal alloys, and finished magnets — all in one system. If it goes ahead, it would be one of the first non-Chinese setups that covers every step from dirt to magnet.

— GlobeNewswire, July 7, 2026

USA Rare Earth's plant in Wheat Ridge, Colorado turned magnet scrap into the real thing — high-grade dysprosium oxide and NdPr oxide. The scrap came from its own Stillwater, Oklahoma magnet factory, where cutting and shaping leaves behind fine metal dust called swarf. The company says this kind of recycling could supply up to 30% of its future rare earth oxide needs. That's a big number from what most firms throw away.

— GlobeNewswire, July 14, 2026

Inside China, prices jumped hard in July. Neodymium metal hit $145.88/kg on the SMM benchmark, up 19.6% from June. Dysprosium rose 25.4% to $261.63/kg. Terbium climbed 21.6% to $1,179.54/kg — a new 2026 high. The pattern is clear: heavy rare earths are the ones moving fastest, and they're the ones the West has the least of.

— Shanghai Metals Market / rare-earth-mining.com, July 1, 2026

CSIS warned that the January 1, 2027 deadline may not be doable. That's when defense firms must stop buying rare earths from China. In its April 2026 report, the think tank counted more than $7.3 billion in funds spread across five agencies — real money, not just talk. But spending isn't the same as producing. New plants take time to build, and output still trails the need by a wide margin.

— CSIS, July 2026