Originally published at: Pam Bondi Openly Defies Judge, The Royal Mint is Out of Silver – Peak Prosperity
US Politics
President Trump has signed an executive order to dismantle the U.S. Education Department. The order aims to return educational authority to states, but its implementation requires congressional approval. Republicans are preparing legislation to support this initiative, while Democrats oppose it, citing concerns about potential impacts on underfunded areas. The Heritage Foundation supports the move, arguing it will reduce federal overreach, while the NAACP warns it could harm disadvantaged communities reliant on federal support.
In another development, the now-defunct Federal Mediation and Conciliation Service (FMCS) has been scrutinized for alleged corruption and misuse of funds. Reports indicate that employees engaged in hiring friends and relatives, using government credit cards for personal expenses, and taking government-funded trips as personal vacations. Despite an inspector general’s referral to the FBI, no prosecutions occurred, and the agency was eventually closed by President Trump. While some defend the agency’s role in labor mediation, others criticize its operational excesses, reflecting a divide in opinions on its closure.
Economy
The Royal Mint in the United Kingdom has reported a shortage of silver bars, raising questions about potential economic implications. Meanwhile, the CME has increased margin rates on Comex Gold contracts by 8%, while silver rates remain unchanged. These developments in precious metals markets may reflect broader economic trends and investor sentiment. Analysts suggest the margin hike could stabilize gold prices amidst market volatility, while the silver shortage highlights increased demand for safe-haven assets.
Across the pond, the U.S. national debt has reached $36.22 trillion, hitting the “Debt Ceiling” and prompting questions about debt ownership. Foreign entities hold 30.2% of the publicly traded debt, with reductions in holdings from countries like Japan and Brazil. In contrast, U.S. mutual funds, the Federal Reserve, and other domestic entities hold the majority. The Federal Reserve’s quantitative tightening has contributed to a reduction in Treasury holdings, impacting the debt landscape.
The IRS is also under scrutiny, with reports about its large IT department and costly modernization efforts. The agency’s operations and maintenance budget heavily relies on contractors, raising concerns about efficiency and accountability. While some argue these efforts are necessary for modernization, others criticize the high costs and dependency on external contractors.
A global sovereign debt crisis is reportedly looming, with government and corporate bonds surpassing $100 trillion. Central banks face challenges in combating inflation without worsening government debt, exacerbated by the COVID-19 pandemic. Emerging markets, including China and Canada, are facing challenges due to foreign exchange fluctuations, with a global recession predicted by 2028. The OECD’s findings on rising borrowing costs and funding shortfalls for climate goals add to the financial pressures, highlighting the complexity of the crisis.
Health
A multinational study by the Global Vaccine Data Network has identified rare adverse events following COVID-19 vaccinations. The study, involving 99 million vaccinated individuals, noted safety signals for conditions such as myocarditis, Guillain-Barré syndrome, and cerebral venous sinus thrombosis. These findings confirm known risks and suggest the need for further investigation into additional potential safety signals. While some emphasize the importance of monitoring these risks, others argue that the benefits of vaccination outweigh the rare adverse events.
Geopolitics
In Europe, political maneuvers and environmental agendas are contributing to financial instability. The EU’s plans to fund an army and prepare for potential conflict with Russia are viewed by some as distractions from economic challenges. Additionally, the Greens’ support for conflict with Russia, a major fossil fuel producer, is seen by some as posing risks of nuclear conflict under the guise of environmental protection. While some argue these strategies are necessary for security, others warn they could exacerbate economic and geopolitical tensions.
Sources
Social Security Shakeup: Cuts, Concerns, and the Looming Economic Domino Effect
Social Security is a hot topic.
Source | Submitted by pinecarr
Corruption Chronicles: Inside the Lavish Lifestyles of a Now-Defunct Federal Agency
FMCS seemed, quite clearly, to exist for the benefit of those on its payroll, and not much else.
Source | Submitted by PhilH
US Attorney General Criticizes Judge’s Inquiry into Deportation Flights, Citing Overreach
US Attorney General Says District Judge Has ‘No Right’ To Ask Flight Deportation Questions
COVID-19 Vaccine Safety Study Highlights Rare Adverse Events in 99 Million Recipients
OE ratios with LBCI > 1.5 were observed for Guillain-Barré syndrome (2.49, 95 % CI: 2.15, 2.87) and cerebral venous sinus thrombosis (3.23, 95 % CI: 2.51, 4.09) following the first dose of ChAdOx1 vaccine.
Source | Submitted by PhilH
Sovereign Debt Crisis: A Looming Catastrophe Amid Global Turmoil
Nearly HALF of ALL outstanding government debt among OECD countries and emerging markets and around ONE THIRD of corporate debt will mature by 2027.
Source | Submitted by rhollenb
IRS Unmasked: Insider Reveals IT Bloat, Contractor Dependency, and Costly Modernization Efforts
We have 8,000 people in IT, and our operations and maintenance budget is $3.5 billion a year.
Source | Submitted by nickythec
Trump Signs Order to Dismantle Education Department, Sparking Political Showdown
Trump orders plan to dismantle Education Department
Source | Submitted by gregoire
US Debt Holders: Who’s Buying, Who’s Selling as National Debt Hits $36.22 Trillion
Foreign entities held $8.5 trillion, or 30.2% of the publicly traded debt at the end of Q4.
Source | Submitted by rhollenb
Royal Mint’s Silver Shortage: A Coincidence or Economic Indicator?
THE ROYAL MINT – THE UNITED KINGDOM’S OFFICIAL MAKER OF BRITISH COINS – IS OUT OF SILVER BARS.
CME Hikes Gold Futures Margin by 8%, Silver Stays Steady
CME is raising margin rates on Comex Gold contracts by 8%.
AG Pam Bondi Openly Defies Court Orders to Block Deportation Flights
One local judge does NOT have the authority to issue a nationwide injunction, esp on national security.
In addition to sources submitted by community members, the following were also used in the creation of this report: The Heritage Foundation, NAACP, Fox News, The Legal Watchdog, CNN, The Guardian, The Washington Post, OECD, Bloomberg, Reuters, The Financial Times, Global Vaccine Data Network, ZeroHedge, Kitco News, The Economist, and The New York Times.
