A Selection of Some of Last Week’s Worst News

by | Dec 11, 2023 | Biden Administration, Blog Articles, Crypto, Economy, Energy, Finance, Geopolitics, Politics, USA

Asking the CEOs of the U.S.’s largest TBTF banks their opinion on crypto was like asking the wolves to vote on whether the fences should be removed from around the sheepfold.

The Biden administration continues to work tirelessly to undermine the U.S.’s energy independence, global competitiveness, technology advantage, and social fabric. For example, and just last week:

Energy: Biden appointed U.S. Special Envoy for Climate John Kerry announced that the U.S. was joining the Powering Past Coal Alliance, which would commit the U.S. to build no new and shutter existing coal plants. This action will make America’s electricity more expensive, destroy tens of thousands of jobs, substantially weaken our competitive position against China, India, Russia, and others whose coal industries will go on unabated, and in the end do nothing to materially address global warming. Sen. Kerry also reiterated his utopian fantasy that the U.S. should phase out fossils fuels, without mentioning how we’ll all be living in unheated caves and eating bugs as a result.

Crypto: Sen. Elisabeth Warren and other Senate Banking committee members staged a mock show trial of the crypto industry, co-opting JP Morgan’s CEO Jamie Dimon, alongside several other TBTF bank CEOs, to fawningly tell the committee that if they were the government, they would shut down crypto. Dimon speciously argued that crypto’s only legitimate use case is criminals trying to launder money and avoid the regulated banking system. This is factually and overwhelmingly false and Dimon knows it. But if he gets his wish and crypto is outlawed, then, having criminalized all those in the crypto community, he will eventually be proven right. And BTW, I wonder why the largest banks in this country are wholly aligned to use the government’s regulatory power to criminalize crypto? It’s not like crypto challenges the TBTF banks’ oligopoly and traditional banking’s entire business model or anything. It was like asking the wolves to vote on whether the fences should be removed from around the sheepfold. Imagine where the U.S. would be now if those legislators who proposed in the 1990s to overregulate the internet-related industry had succeeded in their plans (no private use of cryptography, franking (taxing) of emails, etc.)

Education: President Biden has been silent after members the House education committee looked on in shock and disgust as the presidents of several Ivy League institutions (Harvard, UPenn, and MIT) completely soiled themselves and the institutions they represent by refusing acknowledge that antisemitic calls for Jewish genocide are, well, calls for Jewish genocide, regardless of “context.” As a graduate of two Ivy League schools, I have never been more ashamed of my affiliation. It’s time for the entire broken and failed system of higher education in America to be dismantled and reinvented anew.

Biden Family Corruption: The DOJ’s criminal charges filed against Hunter are narrowly focused on firearms violations and according to legal experts are explicitly designed to protect the President from exposure. Meanwhile, House Republicans are drawing ever closer to impeaching President Joe Biden on charges of official corruption. Whether the formal charges will stop short of high treason is TBD.

Trump Show Trials: The shambolic efforts of the weaponized DOJ and Democrat AGs and judges to keep Trump from running for president continue, despite the fact that they are mostly just boosting his popularity and his chances for victory in 2024.

This list could go on and on but it’s exhausting. And all that was just in one week!