"Dismissing criticism of Israel as anti-Semitic is like dismissing criticism of the Nazis as anti-Germanic." --
Michael Rivero
A group of Republicans in the House of Representatives are sending a letter to President Biden demanding an investigation into the Chinese Communist Party's position in the recently-collapsed Silicon Valley Bank.
The GOP lawmakers are seeking to clarify how federal efforts to restructure the bank could benefit CCP-backed companies with taxpayer funds, according to the letter obtained by Fox News Digital on Saturday.
While plans to usher in centralized, government-controlled money are receiving some pushback in the U.S., the consensus in Europe seems to be in favor of introducing a central bank digital currency (CBDC), i.e., the digital euro.
And now the question is how exactly to proceed, including by determining strategic objectives.
In the eurozone – made up of the 20 (out of 27) EU members that have adopted the euro – merchants might find themselves under obligation to accept a future European Central Bank (ECB) digital currency.
You don’t need to get an economics degree from Princeton to understand economics. In fact, it will likely imbue you with a dangerous level of self-importance and indoctrinate you with dogmatically false concepts (see Princeton grad Jerome Powell who thinks destroying an economy solves inflation).
It doesn’t seem that Joe Biden gets the memo. Despite all the damage he’s already done, he is hellbent on pushing every hair-brained socialist idea that the left gives him. Most of the time, he’s just trying to buy people’s votes. But what ends up happening is taxpayers–and working Americans–get the shaft.
The US banking system is broken. That doesn’t portend more high-profile failures like Credit Suisse. The central banks will keep moribund institutions on life support.
But the era of dollar-based reserves and floating exchange rates that began on August 15, 1971, when the US severed the link between the dollar and gold, is coming to an end. The pain will be transferred from the banks to the real economy, which will starve for credit.
On CNN March 14, Roger Altman, a former deputy Treasury secretary in the Clinton administration, said that American banks were on the verge of being nationalized:
More than a dozen state financial officers are writing to JPMorgan Chase CEO Jamie Dimon to call on the bank to root out any internal political or anti-religious bias that may result in adverse decisions against clients of the nation’s largest bank.
The market’s in a highly unstable state right now. These violent swings show the inadequacy of the standard models that the Fed and other mainstream analysts use.
The Fed assumes so many things about markets that are simply false, like that markets are always efficient, for example. They’re not. Under volatile conditions like these they gap up and down — they don’t move in rational, predictable increments like the “efficient-market hypothesis” supposes.
The problem is that the Fed’s models are empirically false.
While elites around the world – those in political power and in control of top financial institutions – are very much rallying around the plans to introduce central bank digital currencies (CBDCs), in Florida, the state's governor has a different take on where things should be headed.
In fact, radically different – Governor Ron DeSantis thinks CBDCs should be banned.
