In the realm of finance, a historical analysis of private banking systems reveals a pattern of control over global commerce, starting with the Federal Reserve Act and the Bretton-Woods agreement. The establishment of the First and Second Banks of the United States, the creation of the Federal Reserve in 1913, and the suspension of the gold convertibility of the US dollar in 1971 are all cited as key milestones. The petrodollar system, which saw the US guaranteeing military safety to oil-producing nations in exchange for selling oil only in dollars, is also highlighted. The article further discusses the invasions of Iraq and Libya, which were allegedly driven by the desire to maintain dollar hegemony and prevent the rise of alternative currencies.
Meanwhile, financial analyst Peter Schiff warns of an impending financial crisis, drawing parallels with the 2008 crisis. He points to the bond market as evidence of the financial system unwinding, with long-term bond yields rising relentlessly. Schiff also highlights the negative trend in leading economic indicators, suggesting that the economy is weaker than experts claim. He mentions the record credit card debt and interest rates, as well as the problems faced by banks and financial companies due to the deflating bubble.
In the political sphere, Anthony Fauci’s taxpayer-funded lifestyle has come under scrutiny. Despite his retirement from government work, Fauci’s security detail and chauffeur services, estimated to cost around $1 million per month, are funded by the American taxpayer. Fauci justifies these costs by citing threats he has received from the “extreme radical right.”
In other news, Joe Biden’s $106 billion war package has been criticized for its allocation of funds, including $61 billion for Ukraine, $14 billion for Hamas, $14 billion for border security, and $14 billion for humanitarian purposes. Critics argue that these expenditures contribute to fiscal catastrophe and question the necessity of US involvement in the territorial conflict in Ukraine.
On the health front, a new study published in the Journal of the American Medical Association claims that neither the flu shots nor COVID-19 injections are effective in reducing one’s risk of hospitalization. The study, conducted by the Federal Veterans Administration, found no statistical significance in death benefit between those who receive one or two doses of the shots versus those who are unvaccinated.
In terms of civil liberties, parallels have been drawn between the Hamas attacks on Israel and the aftermath of 9/11, particularly the negative consequences of the USA Patriot Act, which expanded the government’s powers and undermined civil liberties. The article argues that pre-emptive strikes and prolonged wars have led to blowback, costing lives and taxpayer dollars. It also addresses the use of torture and the erosion of privacy rights due to mass surveillance.
This is a companion discussion topic for the original entry at https://peakprosperity.com/daily-digest/the-finance-fiasco-faucis-funding-and-bidens-bill/