Private Briefing

Private Briefing Be a Wealth Builder, not a Wealth Killer. Find the best storylines, and you’ll find the best stocks. Inc., and The Baltimore Sun.

William (Bill) Patalon III is the Executive Editor and Senior Research Analyst for Money Morning. Before he moved into the investment-research business in December 2005, Bill spent 22 years as a journalist, most of it covering financial news as a reporter, columnist, and editor that included stints with Gannett Co. Bill has covered finance and investing, economics, manufacturing, the defense secto

r, biotechnology, and telecommunications. The companies he's covered include Eastman Kodak, Xerox, Harley-Davidson, Caterpillar, Westinghouse Electric, Verizon, MedImmune, and Black & Decker. His most-memorable interviews include: former President Richard M. Nixon, General Electric CEO John F. "Jack" Welch, Forbes magazine publisher and former Presidential candidate Steve Forbes, and business-turnaround specialist and helicopter-industry pioneer Stanley Hiller Jr. Today Bill is the creator and editor of Private Briefing. With his latest project, he takes you "behind the scenes" of his established investment news website for a closer look at the action. Members get all the expert analysis and exclusive scoops he can't publish... and some of the most valuable picks that turn up in Bill's closed-door sessions with editors and experts.

Wow …
12/21/2025

Wow …

Captured Midair: World’s Largest Turboprop Breaking Apart

This AI-enhanced image captured and enhanced from a CCTV video that captured yesterday's crash shows clearer detail of the exact moment an Antonov An-22, the world’s largest turboprop aircraft, begins to break apart in midair during a post-maintenance test flight in Russia’s Ivanovo region.

The more than 50-year-old military cargo aircraft disintegrated while airborne, killing all seven crew members on board. The aircraft crashed into a reservoir below.

Cold War Coup …
12/21/2025

Cold War Coup …

In late 1959, the CIA pulled off one of the wildest stunts of the Cold War: it secretly “borrowed” a Soviet Lunik (Luna) space probe for a single night in Mexico City, then quietly put it back before anyone noticed.


The probe was touring the world as part of a Soviet propaganda exhibition, showing off space technology to prove Moscow’s superiority in the Space Race. One stop was Mexico City – neutral ground, far from Soviet territory, and much less secure than a military base. For American intelligence, it was the perfect opportunity.


Under cover of darkness, a truck carrying the crated probe was quietly diverted off its official route to a secure warehouse on the edge of the city. Inside, a team of CIA technicians and engineers had just a few hours to work. They opened the crate, removed panels, photographed the interior, measured wiring, plumbing, and structures, and studied everything from welds to materials to get a clearer picture of Soviet rocket and guidance technology.


They worked with extreme care: soft shoes or socks to avoid leaving marks, tools used in ways that wouldn’t betray tampering, and every screw and seal put back exactly as they found it. Before sunrise, the Lunik was reassembled, re-crated, loaded back onto the truck, and returned to the normal transport chain as if nothing had happened.


The Soviets never publicly realized their showpiece had been taken apart and examined in a foreign warehouse. Yet the operation gave the United States priceless technical intelligence on Soviet space hardware at a time when every bit of information in the Space Race mattered.


A lunar probe, a detour in Mexico City, a night in a secret warehouse, and back on display the next day – and no one in Moscow the wiser.

12/19/2025

May 1943, off the Oregon coast.
A newly commissioned submarine chaser designated USS PC-815 received its commander: 32-year-old L. Ron Hubbard, an aspiring science fiction writer who'd joined the Navy after Pearl Harbor.
This would be Hubbard's first—and last—independent command.
On May 19, 1943, Hubbard's crew detected what they believed were Japanese submarines lurking in American waters. Hubbard immediately went to battle stations. He ordered depth charges deployed. He radioed for reinforcements.
For the next 68 hours, USS PC-815 and supporting vessels pursued the enemy contacts. Hubbard's reports described multiple submarine encounters. He claimed his depth charges had damaged at least two enemy vessels.
The Navy took the threat seriously. They diverted ships and aircraft to the area. A full anti-submarine operation unfolded off the Oregon coast.
But there was a problem.
There were no Japanese submarines.
Post-action analysis revealed Hubbard had been attacking phantom targets. No submarines were detected by other vessels. No wreckage was recovered. No oil slicks appeared. No evidence of any kind supported his claims.
What Hubbard's crew had likely detected was a magnetic deposit on the ocean floor—a geological formation, not an enemy vessel.
The "Battle of the Oregon Coast" had been fought entirely against rocks.
The Navy was not amused. But before any formal consequences could be determined, Hubbard created a second problem.
In June 1943, Hubbard took PC-815 near the Coronado Islands off Baja California for what he described as "training exercises." He ordered his crew to conduct live-fire gunnery practice.
The shells began landing on Mexican territory.
The Coronado Islands belonged to Mexico, a neutral country. Hubbard had just initiated an unauthorized military action against a foreign nation's sovereign territory.
The Mexican government immediately filed a diplomatic protest. The incident required State Department intervention. The Navy was, once again, deeply embarrassed.
This time, there would be consequences.
A Board of Investigation was convened to examine Hubbard's command performance. The board's conclusions were damning:
They criticized his judgment. They questioned his leadership. They noted his tendency to perceive threats that didn't exist and take action without proper authorization.
The recommendation was clear: L. Ron Hubbard should not command ships.
After approximately 80 days—less than three months—Hubbard was relieved of command of USS PC-815.
His naval career never recovered. He spent the remainder of World War II in administrative positions, never receiving another ship command. His service record documented repeated disciplinary issues, performance problems, and what the Navy assessed as poor leadership.
This should be where the story ends: an unremarkable tale of a junior officer who proved unsuitable for command during wartime—something that happened to many men who simply weren't cut out for military leadership.
But L. Ron Hubbard had other plans.
In the decades after the war, Hubbard began reinventing his military service. In his telling, he became a decorated war hero. He claimed he'd been awarded numerous medals. He described himself as a combat veteran wounded in action. He said he'd commanded multiple vessels in critical battles.
None of this was true.
When he founded the Church of Scientology in the 1950s, this manufactured war record became part of his biography. Official church materials described him as a "combat veteran" and "highly decorated officer."
The truth remained buried in Navy archives—classified or simply ignored—for decades.
It wasn't until the 1980s and 1990s, when journalists and researchers obtained Hubbard's actual naval records through Freedom of Information Act requests, that the full picture emerged.
The records told a different story than the legend.
They showed an officer who'd spent 68 hours hunting imaginary submarines. Who'd shelled Mexican territory and sparked an international incident. Who'd been relieved of command after less than three months for poor performance.
His service record contained no combat awards. No purple hearts. No commendations for heroism under fire.
What it did contain was the Board of Investigation's conclusion that he should not be given command responsibilities.
The man who would go on to create one of the 20th century's most controversial religious movements had started by creating a personal mythology that bore almost no resemblance to documented reality.
There's something darkly ironic about it all.
Hubbard spent 68 hours pursuing submarines that didn't exist, filed reports about damage he never inflicted, and fought a battle that never happened.
Then he spent the next forty years convincing people it had all been real—and that he'd been a hero.
The Navy knew the truth. The records existed. But for decades, while Hubbard built an empire on his manufactured identity, those records gathered dust in archives.
By the time the truth fully emerged, millions of people had already accepted the mythology.
L. Ron Hubbard died in 1986, having never publicly acknowledged the gap between his war stories and his actual service record.
The Church of Scientology still describes him as having had a distinguished military career.
The U.S. Navy records tell a different story: a junior officer who hunted phantom submarines, accidentally attacked Mexico, and was removed from command for poor judgment.
Sometimes the difference between mythology and reality comes down to who controls the narrative.
Hubbard controlled his narrative for forty years.
The Navy files just sat there, waiting for someone to request them.
Now you know what they said.

12/17/2025
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12/17/2025

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Broken Arrow …
12/16/2025

Broken Arrow …

I was REALLY looking forward to playing this game — but then it disappeared …
12/14/2025

I was REALLY looking forward to playing this game — but then it disappeared …

My favorite racer of all time  …
12/14/2025

My favorite racer of all time …

Joey’s coming home for Christmas break … from his freshman year of college. But it wasn’t that long ago …
12/11/2025

Joey’s coming home for Christmas break … from his freshman year of college. But it wasn’t that long ago …

I love how Amazon just displayed my new     Wealth Builder/Wealth Killer — which is generating terrific feedback. Please...
12/11/2025

I love how Amazon just displayed my new Wealth Builder/Wealth Killer — which is generating terrific feedback.

Please check it out … link in comments.

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