1 ZANDANSHATAR GOMBOJAV APPOINTED AS PRIME MINISTER OF MONGOLIA WWW.MONTSAME.MN PUBLISHED:2025/06/13      2 WHAT MONGOLIA’S NEW PRIME MINISTER MEANS FOR ITS DEMOCRACY WWW.TIME.COM PUBLISHED:2025/06/13      3 ULAANBAATAR DIALOGUE SHOWS MONGOLIA’S FOREIGN POLICY CONTINUITY AMID POLITICAL UNREST WWW.THEDIPLOMAT.COM PUBLISHED:2025/06/13      4 THE UNITED NATIONS CHILDREN’S FUND (UNICEF) IN MONGOLIA, THE NATIONAL FOUNDATION FOR SUPPORTING THE BILLION TREES MOVEMENT, AND CREDITECH STM NBFI LLC HAVE JOINTLY LAUNCHED THE “ONE CHILD – ONE TREE” INITIATIVE WWW.BILLIONTREE.MN PUBLISHED:2025/06/13      5 NEW MONGOLIAN PM TAKES OFFICE AFTER CORRUPTION PROTESTS WWW.AFP.MN PUBLISHED:2025/06/13      6 GOLD, MINED BY ARTISANAL AND SMALL-SCALE MINERS OF MONGOLIA TO BE SUPPLIED TO INTERNATIONAL JEWELRY COMPANIES WWW.MONTSAME.MN PUBLISHED:2025/06/13      7 AUSTRIA PUBLISHES SYNTHESIZED TEXTS OF TAX TREATIES WITH ICELAND, KAZAKHSTAN AND MONGOLIA AS IMPACTED BY BEPS MLI WWW.ORBITAX.COM  PUBLISHED:2025/06/13      8 THE UNITED STATES AND MONGOLIA OPEN THE CENTER OF EXCELLENCE FOR ENGLISH LANGUAGE TEACHING IN ULAANBAATAR WWW.MN.USEMBASSY.GOV  PUBLISHED:2025/06/12      9 MONGOLIA'S 'DRAGON PRINCE' DINOSAUR WAS FORERUNNER OF T. REX WWW.REUTERS.COM PUBLISHED:2025/06/12      10 MONGOLIA’S PIVOT TO CENTRAL ASIA AND THE CAUCASUS: STRATEGIC REALIGNMENTS AND REGIONAL IMPLICATIONS WWW.CACIANALYST.ORG  PUBLISHED:2025/06/12      БӨӨРӨЛЖҮҮТИЙН ЦАХИЛГААН СТАНЦЫН II БЛОКИЙГ 12 ДУГААР САРД АШИГЛАЛТАД ОРУУЛНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/15     ОРОН СУУЦНЫ ҮНЭ 14.3 ХУВИАР ӨСЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/15     МОНГОЛ УЛСЫН 34 ДЭХ ЕРӨНХИЙ САЙДААР Г.ЗАНДАНШАТАРЫГ ТОМИЛЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/13     SXCOAL: МОНГОЛЫН НҮҮРСНИЙ ЭКСПОРТ ЗАХ ЗЭЭЛИЙН ХҮНДРЭЛИЙН СҮҮДЭРТ ХУМИГДАЖ БАЙНА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/06/13     МОНГОЛ БАНК: ТЭТГЭВРИЙН ЗЭЭЛД ТАВИХ ӨР ОРЛОГЫН ХАРЬЦААГ 50:50 БОЛГОЛОО WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/13     МОНГОЛ ДАХЬ НҮБ-ЫН ХҮҮХДИЙН САН, ТЭРБУМ МОД ҮНДЭСНИЙ ХӨДӨЛГӨӨНИЙГ ДЭМЖИХ САН, КРЕДИТЕХ СТМ ББСБ ХХК “ХҮҮХЭД БҮРД – НЭГ МОД” САНААЧИЛГЫГ ХАМТРАН ХЭРЭГЖҮҮЛНЭ WWW.BILLIONTREE.MN НИЙТЭЛСЭН:2025/06/13     ЕРӨНХИЙЛӨГЧИЙН ТАМГЫН ГАЗРЫН ДАРГААР А.ҮЙЛСТӨГӨЛДӨР АЖИЛЛАНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/06/13     34 ДЭХ ЕРӨНХИЙ САЙД Г.ЗАНДАНШАТАР ХЭРХЭН АЖИЛЛАНА ГЭЖ АМЛАВ? WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/13     “АНГЛИ ХЭЛНИЙ МЭРГЭШЛИЙН ТӨВ”-ИЙГ МУИС-Д НЭЭЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/13     Г.ЗАНДАНШАТАР БАЯЛГИЙН САНГИЙН БОДЛОГЫГ ҮРГЭЛЖЛҮҮЛНЭ ГЭЖ АМЛАЛАА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/12    

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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'Trump Thump' whacks bond market for $1 trillion loss www.reuters.com

Donald Trump's stunning victory for the White House may mark the long-awaited end to the more than 30-year-old bull run in bonds, as bets on faster U.S. growth and inflation lead investors to favor stocks over bonds.
 
A two-day thumping wiped out more than $1 trillion across global bond markets worldwide, the worst rout in nearly 1-1/2 years, on bets that plans under a Trump administration would boost business investments and spending while firing up inflation.
 
"We’ve had a sentiment shift in the bond market. We’ve seen it, too. People have already started reallocating out of bonds and into stocks,” said Jeffrey Gundlach, chief executive officer of Los Angeles-based DoubleLine Capital, which has more than $106 billion in assets.
 
"The cracks have been forming for five years – we’re in this slow-grinding higher phase in yields,” he said.
 
The stampede from bonds propelled longer-dated U.S. yields to their highest levels since January with the 30-year yield posting its biggest weekly increase since January 2009, Reuters data showed. US30YT=RR US10YT=RR
 
In the stock market, the blue chip Dow Jones industrial average finished out its best week in five years on Friday as it marked a record high close.
 
The 10-year German Bund yield rose to its highest level in eight months, while the 10-year British gilt yield climbed to its highest level prior to Britain's decision to leave the European Union on June 23, known as Brexit. DE10YT=RR GB10YT=RR
 
Bank of America Merrill Lynch's Global Broad Market Index fell 1.18 percent this week, the steepest percentage drop since June 2015, which is equivalent to more than $1 trillion. Its U.S. Treasury index suffered a 1.91 percent decline on a total return basis, the biggest weekly drop since June 2009 .MERGBMI .MERG0Q0.
 
Many investors, who have loaded up on bonds on the belief of protracted easy monetary polices worldwide due to sluggish global economy, are not ready to throw in the towel.
 
They are counting on insurers and pension plans, together with European and Japanese investors who are struggling with negative yields at home, to preserve the bull run for bonds.
 
"Are we going to see a dramatic backup in yields? It's too soon to make a conclusion about that," said Mihir Worah, chief investment officer in asset allocation and real assets at PIMCO in Newport Beach, California, which manages $1.55 trillion in assets.
 
Goldman Sachs and BAML forecast the 10-year U.S. yield could climb to 2.50 percent, compared with 2.11 percent at Thursday's close. The U.S. bond market was closed on Friday for Veterans Day. US10YT=RR
 
BREXIT TWO?
 
Fund managers at top bond firms and analysts on Wall Street are weighing whether the impact of Trump's win on financial markets will be similar to Brexit. European stocks sold off violently after the Brexit vote, but by mid-August had recovered all the losses. Even so, there is a great deal of uneasiness as investors wait for details on how Britain will exit the EU - not unlike the waiting game on what Trump will actually do as president.
 
"We need more of a cushion given the uncertainties. That's exactly what is being played out in the global debt market," said Mark Lindbloom, portfolio manager at Western Asset Management in Pasadena, California, which oversees $445 billion.
 
Trump, who beat Democratic rival Hillary Clinton, campaigned on tax cuts, trade restrictions and fiscal spending on infrastructure. It remains unclear how these promises translate into policy and the degree to which they would affect the economy.
 
Since Election Day, the U.S. bond market's gauge on investors' 10-year inflation outlook jumped to its highest level since July 2015. USBEI10Y=RR
 
Bond and stock markets suggest whatever Trump may do with the help of a Republican-controlled Congress would give a lift to the U.S. economy, which is growing at about 2 percent this year.
 
"It is a bit early to be calling the Big Rotation," said Art Hogan, chief market strategist at Wunderlich Securities in New York, referring to the idea that the three-decade-old rally in bonds is ending.
 
"We’ve been declaring that rotation for years. ... I’m afraid it’s hard to think about that happening in the current demographics we have. Baby boomers have more investable assets than millennials do."
 
Betting the U.S. economy may fare better on possible tax cuts and more federal spending, investors scooped up financial and biotech stocks, driving the S&P 500 to its best week since 2014 on Friday.
 
For a rotation into equities from bonds to materialize, it would require “a pick-up in the global economy, and for central banks globally at the very least to halt accommodation -and in our case remove some,” Hogan said.
 
TIPS APPEAL
 
While investors dumped most types of bonds after Trump's victory, they piled into Treasury inflation-protected securities as a hedge against a pick-up in inflation.
 
"You are seeing interest in TIPS right now from a widening investors base," said Brian Smith, portfolio manager at TCW in Los Angeles, which has $197 billion in assets.
 
Investors poured $1 billion into TIPS in the week ended Nov. 9, the second-biggest inflows since records began in October 2002, data from Thomson Reuters' Lipper service showed on Thursday.
 
Trump's win dovetailed with a rise in U.S. yields, reversing the safe-haven trade that stemmed from fears over the fallout of Britain's vote to leave the EU.
 
Yields have also risen as some Federal Reserve officials reasserted calls for a rate increase by year-end, a move that is increasingly seen as likely by the market.
 
Inflation concerns have also been stoked by a recovery in U.S. oil prices, which tumbled to a 12-year low in February due to concerns over a supply glut. That is seen as another factor behind the rise in bond yields. CLcv1
 
"The trend was already in play and it has accelerated," Pimco's Worah said, adding there is more room for yields to rise but not much further from current levels.
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Samsung Electronics agrees to buy Harman for $8 billion www.reuters.com

Samsung Electronics (005930.KS) said on Monday it had agreed to buy Harman International Industries (HAR.N) for about $8 billion, a deal that enables the South Korean electronics giant to expand its presence in the automotive electronics market.
 
Samsung said in a statement it expected to use cash to fund the deal, which represents a premium of 28 percent to Harman's Friday closing price.
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Volkswagen's Audi in talks with China's SAIC Motor on tie-up www.reuters.com

Volkswagen's (VOWG_p.DE) Audi premium brand is in talks with China's largest automaker, SAIC Motor, on a potential long-term collaboration, Audi said in a statement on Monday.
 
Reuters reported on Saturday, citing a source familiar with the matter, that the two had signed an agreement that could pave the way for Volkswagen's joint venture with SAIC to make Audi brand cars.
 
An early entrant to China, the world's largest car market, Audi is the best-selling premium car brand although it is rapidly losing ground to newer car models from Daimler's Mercedes-Benz and non-German automakers like Toyota's Lexus and General Motor's Cadillac.
 
Audi cars are now only made in China through a joint venture with China FAW Group Corp [SASACJ.UL], providing a lifeline to a state-owned company whose own brand cars have struggled with falling sales.
 
Audi reaffirmed its commitment to FAW in the release announcing the talks with SAIC, saying it had outlined growth plans with FAW for the next 10 years that include making green energy SUVs and sedans in every major segment.
 
Audi will also form a new joint venture company with FAW to be based in Beijing and focus on mobility and digital services, according to the statement.
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McDonald's hopes tech convenience will help lock-in customers www.chinadaily.com.cn

McDonald's Corp, which replaced its CEO last year in the hope of turning around sales, plans to increase its investment in digital endeavors, including self-serve kiosks and a mobile-ordering application.
 
The investment marks a "very significant acceleration" from current levels, Jim Sappington, executive vice-president of operations and technology systems, said in an interview. He declined to give specific numbers, but said the spending will continue during the next two years and will be booked as capital expenditures and general and administrative costs.
 
"Enhancing the overall experience is a critical part of us growing our business," he said. "If we're more convenient, our customers are going to be more willing to come to McDonald's."
 
While the world's largest restaurant chain has managed to revive same-store sales growth, it has lagged behind competitors on the technology front. Starbucks Corp and Dunkin' Donuts boast millions of rewards-program members, while Taco Bell allows diners to order via a mobile app. Those types of programs frequently allow restaurants to lock in customers.
 
McDonald's has had success since it started all-day breakfasts in the US more than a year ago. But that growth has slowed, and the company may need something new to sustain sales. It also has seen a positive customer response since declaring its chicken antibiotic-free in the US, adding real butter to its breakfast muffins and promising cage-free eggs.
 
A boost in technology may help－the push will be focused on McDonald's 10 largest markets, which include the US, Australia, Canada, France and China.
 
Next year, McDonald's will begin introducing smartphone ordering and paying to its domestic locations, building on its current app, which mainly features discounts. The Big Mac seller plans to add mobile order-and-pay capabilities to as many as 25,000 of its approximately 36,500 locations globally next year and in 2018.
 
After ordering, customers will be able to pick up their food curbside in a McDonald's parking lot, or by going through the drive-through. The company is still trying to pick a digital partner to help it deploy the mobile app.
 
Another focus will be kiosks, digital menu boards, table service and the chain's so-called Experience of the Future, which highlights burger customization. The touch-screens are now in about 7,000 of its restaurants across the globe, heavily concentrated in Europe.
 
Self-serve kiosks and mobile ordering may ultimately speed up McDonald's service, which has been criticized as being too slow in the past. Customers can build meals at their own pace, taking time to tailor fare, check nutrition facts and compare prices, Sappington said.
 
"It's very difficult now to ask for something to be added to your double cheeseburger, or ask for no onions," he said. "Doing that through the kiosks, doing that through the app, is very easy, is very natural."
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China to become Asia Pacific's largest cruise tourism market www.chinadaily.com.cn

BEIJING - China looks set to be the largest cruise tourism market in the Asia Pacific region as marine tourism gains steam among domestic travelers.
 
China's cruise liner ports reported 629 cruise liners leave for trips in 2015, up 35 percent, with cross-border cruise travelers up 44 percent, according to Li Shihong, deputy head with China National Tourism Administration.
 
The world's top five cruise liner giants have all made forays into the Chinese market, helping China to become the largest and most dynamic cruise tourism market in the Asia Pacific region, Li explained during a conference on cruise tourism cooperation between the Chinese mainland and Hong Kong and Macao. The government is looking to develop cruise tourism, with ports at Guangdong province, Hong Kong and Macao as important bases, according to Li.
 
South China's largest cruise liner home port Prince Bay in Shenzhen opened Saturday, which can support cruise liners with up to 220,000 tons of displacement.
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Japan economy: Exports help faster-than-expected growth www.bbc.com

Japan's economy expanded at a faster-than-expected rate between July and September, due to higher exports.
Gross domestic product rose at an annualised rate of 2.2% in the three months to September, the third consecutive quarter of expansion.
Japanese firms have relied on overseas sales to make up for lacklustre domestic demand.
There are concerns a Donald Trump US presidency will hurt Japan if anti-free trade rhetoric became a reality.
But since the election result, the yen has fallen against the dollar. That makes Japanese goods cheaper abroad, which is good news for the country's exporters.
The latest official data showed the world's third-largest economy expanded by 0.5% compared with the three months to June - better than the forecast of 0.2% growth.
Export reliance
It was some rare good news for Prime Minister Shinzo Abe's projects to help stimulate the economy - dubbed Abenomics.
However, analysts said this pace could not be sustained given Japan's reliance on exports.
"Consumption is barely there, and in capital expenditure there no growth ... so Japan is relying very much on the outside," Takuji Okubo, chief economist of Japan Macro Advisers, told the BBC.
And Kohei Iwahara, an economist at Natixis Japan Securities, said the figures could be a "one-off windfall", predicting a slowdown in the last three months of 2016.
In August, Japan's cabinet approved an economic stimulus package worth more than 28 trillion yen ($275bn; £207bn) - Mr Abe's latest attempt to boost growth through spending.
However economists were largely disappointed with both its scope and likely impact.
And last month Japan's central bank again pushed back the timeline for hitting its 2% inflation target to March 2019 - a move that raised more questions about the country's economic recovery.
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Lonmin ups stake in Pandora platinum mine www.mining.com

Consolidation in South African's platinum mining sector continued on Friday with Lonmin's decision to buy Amplats' stake in the Pandora platinum mine.
 
According to a press release from Lonmin (LON:LMI), the world's third largest platinum producer, the company will pay between 400 million and 1 billion rand for Amplats' 42.5% stake, thereby giving Lonmin a 92.5% stake in the project. Northam Platinum (JSE:NHM) would be left with a 7.5% stake.
 
Lonmin will pay for the acquisition with 20% free cash flow generated from the Pandora mine over the next six years, with the final price dependent on platinum prices.
 
The Pandora mine is currently a joint venture between Lonmin's subsidiary Eastern Platinum Limited (EPL), Anglo American Platinum (Amplats) through Rustenburg Platinum Limited, and Northam Platinum. It accounts for 5% of Lonmin's production.
 
"The acquisition of AAP’s 42.5% stake in the Pandora JV allows Lonmin to consolidate its position in this relatively shallow and high-grade mineral resource providing an attractive option for development by EPL in both the short and longer term. The Pandora JV area, which is contiguous with our existing EPL operations, relies on Lonmin’s mining and processing infrastructure and is already operated by EPL. The Pandora JV contributed 37,553 Platinum ounces(74,019 platinum group metal (“PGM”) ounces) to Lonmin in the 2015 financial year," Lonmin states in the PR.
 
Reuters reported the transaction will "[bring Amplats] closer to its goal of offloading its labor intensive mines to focus on mechanized mines."
 
It's the second arrangement made between major South African platinum miners in recent weeks – evidence of the troubled South African platinum industry as miners struggle to meet labour demands from unions representing workers who mine the precious metals in some of the deepest and difficult conditions in the world.
 
On Oct. 11 Northam Platinum agreed to buy a mining right from Anglo American Platinum for 1 billion rand, which will enable it to extend the life of its Zondereinde mine, the world’s deepest platinum mine, beyond 30 years.
 
This will be possible, said Northam, because part of Amplats’ Amandelbult mining right is contiguous with the north-western boundary of Zondereinde.
 
Last week Amplats completed the sale of its Bathopele, Siphumelele and Thembelani mining operations to Sibanye Gold (NYSE:SBGL). Sibanye paid 1.5 billion rand for the mines upfront, along with two concentrating plants, a chrome recovery plant, and a tailings facility.
 
 
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Saudi Arabia admits owing billions of dollars to contractors over oil slump www.rt.com

The Saudi Arabian finance minister has admitted billions of dollars are owed to private construction firms and foreign workers following the fall in oil revenue. Workers have been struggling for months without pay.
 
The kingdom has already paid off 70,000 redundant laborers, but tens of thousands remain stranded and unpaid. It has also suspended new contracts. The Council on Economic Affairs and Development (CEDA) does not expect all the workers to be paid off until the end of the year.“I don’t recall the exact amount now, but its billions of dollars,” said the new Finance Minister Mohammed Aljadaan, according to the Guardian.
 
“The ministry is now every day seeking to make thousands of payment orders,” he added.According to the official Saudi news agency, “the sharp decline in oil revenues and the measures taken by the kingdom to reduce spending on a number of projects” is what led to the delays in payment.
 
Saudi Arabia gets three-quarters of its revenue from oil. The 2014 slump in energy prices created a $98 billion budget deficit in 2015.
 
To curb this year’s deficit it raised $17.5 billion in its first international bond sale. According to CEDA – which is headed by Deputy Crown Prince Mohammed bin Salman – “a package of solutions” is being prepared to “complete payments of amounts owed to the private sector.” The council said the awarding of future contracts has been stopped, as “the scale of spending was not compatible” with returns and development.
 
These contracts could be worth as much as one trillion riyals ($267 billion).
 
The government appears to have delayed payments and canceled contracts to offset losses, but in doing so it has sunk many of the country’s biggest construction companies into near bankruptcy, including the Saudi Binladen Group and Saudi Oger, which is run by Lebanon’s new premier, Saad Haririr. Oger’s workers have gone unpaid for months.
 
The kingdom has spent $1 billion paying off a portion of the stranded Asian workers with Saudi Binladin, according to sources familiar with the matter. This was intended to prevent a labor crisis and help send the workers home after massive layoffs.
 
The wider strategy of holding back payment and canceling contracts also threatened to have an adverse effect on subcontractors and smaller companies, which in turn threatened the country’s banks.
 
Currently, Saudi Arabia is expected to have a deficit of $87 billion in 2016. According to economist Giyas Gokkent, from the US-based Institute of International Finance, this is around 13 percent of the country’s GDP.
 
But the Saudis aren’t out of the woods yet, as more financial maneuvering is expected in view of the oil revenue decline.This may mean further “rearranging priorities of spending", according to their significance and efficiency. Recommendations are also being made to include better oversight of new contracts to help the country curb its reliance on oil, something the government says would help save “tens of billions” of dollars.
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Trump election: Wall with Mexico 'to be part fence' www.bbc.com

US President-elect Donald Trump has said his planned wall along the Mexican border could be partly fence.
In some areas, "a wall is more appropriate", he told US broadcaster CBS, but "there could be some fencing",
Mr Trump repeatedly promised during his election campaign to build a wall to keep out illegal migrants.
He said he planned to deport or jail up to three million undocumented migrants with criminal records, such as gang members and drug dealers.
Other undocumented migrants would be assessed once the border was secured, Mr Trump added.
Forcing Mexico to pay for a border wall became a rallying cry among Trump supporters during the campaign.
Their candidate caused outrage by suggesting Mexicans were exporting "their rapists" to the US, along with drugs and other crime.

The Republican defeated Hillary Clinton in Tuesday's presidential election, shocking many who had expected the Democratic candidate to win following favourable opinion polls.
In his first major interview to a US broadcaster since the election, Mr Trump told CBS: "What we are going to do is get the people that are criminal and have criminal records, gang members, drug dealers, where a lot of these people, probably two million, it could be even three million, we are getting them out of our country or we are going to incarcerate."

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Zuckerberg promises Facebook action over fake news www.bbc.com

Mark Zuckerberg has said Facebook will do more to tackle fake news, and again denied it had in any way aided Donald Trump's presidential election victory.
In a post on his Facebook profile Mr Zuckerberg said he hoped to announce measures to tackle fake stories "soon".
He said this work "often takes longer than we'd like in order to confirm changes we make won't introduce unintended side effects or bias".
And he said that more than 99% of content on Facebook "is authentic".
"Only a very small amount is fake news and hoaxes. The hoaxes that do exist are not limited to one partisan view, or even to politics," he added.
He said that made it extremely unlikely hoaxes "changed the outcome of the election in one direction or the other".
'Progress'
Mr Zuckerberg continued: "That said, we don't want any hoaxes on Facebook. Our goal is to show people the content they will find most meaningful, and people want accurate news.
"We have already launched work enabling our community to flag hoaxes and fake news, and there is more we can do here. We have made progress, and we will continue to work on this to improve further."
Some data has shown that fake stories were being far more widely shared on the platform than follow-up stories debunking the claims.
For an increasing number of people, particularly Americans, Facebook is becoming the primary source of news coverage.
The site's News Feed is specifically designed to show users content it thinks will be of most interest, creating what some describe as a "filter bubble" that reinforces a person's view without injecting differences in opinion.
Earlier this year, Facebook was accused of being anti-Trump after it was alleged its human moderators were favouring liberal stories appearing in people's "trending stories" box.
While denying that claim, the site did sack its human team, instead relying solely on an algorithm to determine which stories were shown to be most popular.
'Mainstream sources'
Mr Zuckerberg said any new changes to the way hoaxes and fake news were flagged up had to be taken with caution.
"This is an area where I believe we must proceed very carefully though," he said.
"Identifying the 'truth' is complicated. While some hoaxes can be completely debunked, a greater amount of content, including from mainstream sources, often gets the basic idea right but some details wrong or omitted.
"An even greater volume of stories express an opinion that many will disagree with and flag as incorrect even when factual.
"I am confident we can find ways for our community to tell us what content is most meaningful, but I believe we must be extremely cautious about becoming arbiters of truth ourselves."

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