Ilegal expanisionsm
The budget for next year,
21:39
which has to come out in the next few weeks, will be another deficit, probably
21:45
larger than the last deficit, at a time when the ability of the United States to
21:50
borrow money is a problem. They if they borrow at the normal 30year range,
21:57
they will have to pay over five and a quarter % interest rate, that will kill
22:03
the mortgage market. They can't do that. So they're going to go to shorter term, but shorter term is becoming, you know,
22:11
up over four, four and a half %. It we already spend, just to give you an idea,
22:18
we already spend over $1 trillion on interest.
Why don't the European leaders understand the most
12:11
basic reality that their home is actually in Eurasia, the giant land mass
12:17
that connects them with China? And so to follow the US lead and some anti-China
12:25
rant and rhetoric is absurd. Every leading European business understands
12:33
that. But in Brussels, they don't. and the political leadership in Europe is
12:39
incoherent
I'm not sure whether it was we simply just didn't read our own agreement, which I have a hard time believing, or if it was just like, hey, there is just going to be basically, you
17:09
know, a fig leaf to allow a lot of the oil that was already on the water to quickly exit to give a little bit of an
17:17
extension to the economy. That's what it seems to be right now. And again, we wasted diplomatic capital in all that. We got a temporary
17:24
gain of like, I think we extended you know the energy surplus and the energy economy just by a couple months probably getting everything that was already on the water out of the straits, but then we
17:33
went right back to the state that we're in now. So I mean we kind of shot ourselves in the foot. We really shot ourselves in the foot diplomatically.
I'm drawing on an article that was written by a woman named Leah on Substack.
21:30
Yeah. That everybody needs to read that because as she notes, she said between August 11th and August 24th, Scott
21:37
Bessett executed a sequence of decisions that taken together amount to the most aggressive restructuring of American
21:44
financial system in modern history and did so to benefit the family of Donald
21:51
Trump. What he started with was on August 11th, he killed what's called the corporate transparency act and ordered
21:58
that Fininsen beneficiary membership database be deleted. So this way there wouldn't be any government oversight to figure out who were the powers that be that were running these these companies.
22:09
Three days later, the president's family crypto company got a federal bank charter. Huh. Go figure. Then three days
22:18
after that, Besset published rules requiring every stable coin in America to hold its reserves and treasury bills.
22:26
And guess what? Who's the only stable coin in America that's allowed to operate? The Donald Trump stable coin.
