Mises Institute, January 25, 2024 Biden and Forgotten Federal Financial Tyranny by James Bovard Americans were jolted last week to learn that the Joe Biden administration viewed purchasing a Bible as a potential terrorist warning sign. Representative Jim Jordan (R-OH), chairman of the House Judiciary Committee, revealed that the Treasury Department’s Financial Crimes Enforcement Network […]
Though it is not often examined in these terms, the popular disaffection of Americans with government in general and the rise of anti-democratic politics around the world are seemingly predictable reactions to the contemporary global crises in the international capitalist economy. Persistent poverty, pandemics, military conflict, economic displacement, climate catastrophes, migration, widespread corruption and social […]
It looks like 2008 all over again. Economic and financial mismanagement feature in scorching, consuming brilliance. The culpable, bungling banksters, have returned with their customary, venal incompetence. In the customary script, they habitually seek the role of the public purse to socialise their losses. Along the way, they will avoid richly deserved prison sentences, lie […]
According to an article in American Banker titled “SEC’s Gensler Directly Links Crypto and Bank Failures,” SEC Chair Gary Gensler has asked for more financial resources to police the crypto market. Gensler testified at an April 18 House Financial Services Committee hearing: [Crypto companies] have chosen to be noncompliant and not provide investors with confidence and protections, […]
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: What the authorities did over the weekend was absolutely profound. They guaranteed the deposits, all of them, at Silicon Valley Bank. What that really means … is that they have […]
Financial podcasts have been featuring ominous headlines lately along the lines of “Your Bank Can Legally Seize Your Money” and “Banks Can STEAL Your Money?! Here’s How!” The reference is to “bail-ins:” the provision under the 2010 Dodd-Frank Act allowing Systemically Important Financial Institutions (SIFIs, basically the biggest banks) to bail in or expropriate their […]
Whether the U.S. should have its own central bank digital currency (CBDC) is hotly debated. Several countries, including China, already have CBDCs in operation; but the U.S. Federal Reserve is proceeding with caution. Prof. Saule Omarova, President Biden’s nominee for Comptroller of the Currency, is in favor of a CBDC and has made a strong […]
Bank depositors risk losing a portion of their bank deposits. However, since each account is protected by the Federal Deposit Insurance Corporation up to $250,000, the scheme would covertly revert back to passing the bill to taxpayers to fund the FDIC, which quickly will be bankrupted by the demand for payouts.
