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Credit card companies funneled more than $600,000 during the last election cycle to House Republicans now fighting to preserve the companies’ ability to charge excessive late fees.

Among the 17 Republicans who sent a letter to federal regulators this month opposing a Biden administration effort to rein in the fees, at least 15 received contributions from the credit card industry in the 2022 election cycle. Three of the lawmakers are among the top five House recipients of campaign cash from the industry.

In February, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would limit most credit card late fees to $8, down from the $41 companies are currently permitted to charge. Such late fees are a major profit center for credit card companies, and cost card-holders $12 billion in 2020, according to the consumer watchdog agency.

Tags: ECONOMY, POLITICS/ ELECTIONS/ CORRUPTION
Posted on: Mar 14 07:12

The "Commission for the Return and Communications with Former Afghan Officials and Political Figures” said that talented and honest former officials and political figures who return to Afghanistan will be provided with jobs.

According to the commission, more than 500 people including ministers, governors and political figures have returned to the country.

“The government is committed to considering capacity, talent and honesty of Afghan figures. They may join certain areas of the government because hundreds of thousands of former government officials are currently included in the government,” said Ahmadullah Wassiq, a spokesman for the commission.

“Until now, 513 Afghan figures including ministers, governors and deputy governors, have returned to their country via the “Commission for the Return and Communications with Former Afghan Officials and Political Figures," Wassiq said.

Tags: AFGHANISTAN
Posted on: Mar 14 07:11

US President Joe Biden announced the killing of al-Qaeda's leader in a White House live announcement.  

“On Saturday, at my direction. The United States successfully concluded an airstrike in Kabul, Afghanistan and killed the Amir of al-Qaeda Ayman al-Zawahiri,” Biden said.  

“Now justice has been delivered, and this terrorist leader is no more. No matter how long it takes, no matter where you hide, if you are a threat to our people, the United States will find you and take you out,” he said.  

The US Secretary of State Antony Blinken said in a statement that the “by hosting and sheltering the leader of al Qaida in Kabul, the Taliban grossly violated the Doha Agreement and repeated assurances to the world that they would not allow Afghan territory to be used by terrorists to threaten the security of other countries.” 

Tags: AFGHANISTAN
Posted on: Mar 14 07:11

Iam a former naval officer and I have always believed that the United States should never hesitate to flex its military muscle around the globe in pursuit of our national interests. I was, in fact, a war hawk. 

The disastrous withdrawal from Afghanistan made me question my reflexive hawkishness. The United States’ support of Ukraine in its struggle with Russia further drove me to question our nation’s foreign policy. Why, for example, are we spending billions of dollars to help Ukraine defend its borders when we do not protect our own?

Ukraine has been invaded and occupied since antiquity. Its borders have continuously changed and its occupiers have influenced its culture for thousands of years. In fact, the shared heritage between Russia and Ukraine “goes back more than a thousand years to a time with Kyiv, now Ukraine’s capital, was at the center of the first Slavic state, Kyivan Rus, the birthplace of both Ukraine and Russia,” per National Geographic.

Upon Russia’s invasion of Ukraine in February 2022, Joe Biden announced, “President Putin has chosen a premeditated war . . . Russia alone is responsible for the death and destruction this attack will bring, and the United States and its allies and partners will respond in a united and decisive way. The world will hold Russia accountable.”

But the world is not holding Russia accountable; that burden has fallen primarily on the United States. As recently as September 2022, the European Union was “still the biggest market for Russian crude,” according to the International Energy Agency.

Tags: AFGHANISTAN, RUSSIA/ UKRAINE /BELARUS /CRIMEA, WAR/DRAFT/ VETERAN AFFAIRS
Posted on: Mar 14 07:07

We truly are living in an alternative universe the founders of this republic would not recognize. It’s bad enough that the America-hating Left seeks to undermine the First Amendment as a means to crush dissent; in conservative circles that is now taken for granted. What is worse is the shameful abandonment of the freedom of the press . . . by the supposed press

And yet again, America’s corporate media refuses to defend what was once considered a nonpolitical, nonnegotiable right when it comes to ideological differences with the Left. 

Consider Dominion Voting Systems lawsuit against Fox News for putting several individuals on air who claimed that rigged voting machines swayed the outcome of the 2020 election. 

Here’s the problem: the individuals in question were the president’s lawyers. These lawyers repeatedly stated they had proof that Dominion’s voting machines were rigged to flip votes from Donald Trump to Joe Biden. Fox News Channel and Fox Business Network simply aired the news that the president’s lawyers were making these claims. In some instances, the Fox host allowed the president’s lawyers to make the claims with little push back. In other instances, Fox hosts did push back and demanded evidence, and even suggested they stop making the claims without it. In fact, Fox News invited Dominion representatives to appear on air to give their side of the story, but the company declined all but one invitation. Instead of entering the public debate, Dominion began preparing litigation soon after the election.

Tags: CORPORATE MEDIA, COVER-UP/ DECEPTIONS/ PROPAGANDA, POLITICS/ ELECTIONS/ CORRUPTION, VOTE FRAUD
Posted on: Mar 14 07:05

The nation’s capital has joined jurisdictions in at least five states across the country in allowing noncitizens to vote in local elections. 

The District of Columbia’s law takes effect Tuesday amid bipartisan opposition in Congress. 

As noted in my 2022 book “The Myth of Voter Suppression,” Democrats long have sought to change election laws to gain a political advantage. These noncitizen voting laws mimic a tactic used by Tammany Hall and other political machines that controlled big city politics. 

Rewriting election laws has been part of a national trend among left-leaning jurisdictions.

“The left is attacking what citizenship means,” J. Christian Adams, president of the Public Interest Legal Foundation, an election integrity watchdog group, told The Daily Signal in a written statement. 

Tags: IMMIGRATION/GLOBALISM, POLITICS/ ELECTIONS/ CORRUPTION
Posted on: Mar 14 07:03

The “rich people” with money in Silicon Valley Bank are the real winners in President Joe Biden’s handling of the California-based bank’s collapse, economist Peter St Onge says. 

After the fall of Silicon Valley Bank over the weekend, the Biden administration announced that the Federal Deposit Insurance Corp. will cover all depositors’ money there.

Normally, the Federal Deposit Insurance Corp. is responsible for covering deposits up to $250,000, ensuring that most small businesses and individuals are financially protected from a collapse. But in this case, the FDIC is going far beyond that $250,000 cap to cover every deposit in Silicon Valley Bank, regardless of the amount. 

“If the administration gets away with this, then we are going to start moving into a world where bankers, where Wall Street, feels like they can take any risk they like, because this is all going to get bailed out because you’ve got these human shields,” St Onge, a research fellow in economics at The Heritage Foundation, says. (The Daily Signal is Heritage’s multimedia news organization.) 

Ultimately, the federal government’s actions to protect Silicon Valley depositors probably will result in higher inflation, St Onge says. “I think we’re very likely to see a lot more inflation,” he says.

Tags: CURRENT EVENTS, ECONOMY, WHITE HOUSE
Posted on: Mar 14 07:02

The Right must fight back in the information war waged by left-wing media, the editor-in-chief of The Federalist says, adding that conservatives should take their cues from how Florida Gov. Ron DeSantis treats “false reporting.”

“Because they’re combining with Big Tech to suppress conservative publications and outlets, we need to treat it like the information war it is, fund the information war properly, and invest in those people that are pushing against the fake news [and] who care about actually reporting real news,” Mollie Hemingway told The Daily Signal.

There’s nothing “mainstream” about corporate media, she said, adding that what she calls “propaganda media” works against average Americans by pushing radical ideology, suppressing information about elections, and more.  

“They do not represent the views of average Americans by any stretch of the imagination,” she said. “They support really radical ideas, whether they’re economic or cultural that the vast majority of Americans, and even—in some cases—the vast majority of Democrats, don’t share.” 

Tags: CORPORATE MEDIA, COVER-UP/ DECEPTIONS/ PROPAGANDA, CURRENT EVENTS
Posted on: Mar 14 07:01

President Joe Biden on Monday vowed to enact rules to prevent banks from collapsing after inflation, fueled by the Biden administration’s energy policies, caused increased interest rates meant to tamp down Biden’s soaring price hikes.

One day after taking credit for inventing a new mechanism intended to provide liquidity “to help assure banks have the ability to meet the needs of all their depositors,” Biden promised new rules to prevent the bank failures.

“I will ask Congress and banking regulators to strengthen the rules for banks to make it less likely that this kind of bank failure happens again,” Biden’s Twitter account posted. “We must protect American jobs and small businesses.”

Webmaster addition: Then the rules get dropped like Glass-Steagall, then there is another bank failure, then some damned politician will promise to make sure it never happens again and pass some new rules. Then the rules get dropped like Glass-Steagall, then there is another bank failure, then some damned politician will promise to make sure it never happens again and pass some new rules. Then the rules get dropped like Glass-Steagall, then there is another bank failure, then some damned politician will promise to make sure it never happens again and pass some new rules. etc.

Tags: COVER-UP/ DECEPTIONS/ PROPAGANDA, ECONOMY, WHITE HOUSE
Posted on: Mar 14 06:56

As usual, with such articles, as you work your way through journalistic throwaways, the equivalent of almost palatable slices of pizza, the good stuff is always at the bottom. It’s kinda fun.

In this case, the takeaway is that the US is not ready for war with China and/or Russia — and never will be. Also that the US military is not set up for war with anyone really— just to make a lot of money for a few big corporations.

Proof? At the time of writing, Biden has just done proposing the biggest military budget in history—to counter China— which really poses no threat to the US.

The biggest threat to the US is the US itself.

Tags: ECONOMY, POLITICS/ ELECTIONS/ CORRUPTION, WAR/DRAFT/ VETERAN AFFAIRS, WHITE HOUSE
Posted on: Mar 14 06:51

Republicans on the House Oversight Committee have been working with four witnesses with close ties to the Bidens, who have provided documents and other evidence tying the Bidens to the Chinese Communist Party.

"It’s as bad as we thought… Since we’ve last spoken we have bank records in hand.  We have individuals who are working with our committee," Committee chair James Comer (R-KY) told Fox News' Maria Bartiromo on "Sunday Morning Futures."

"In the last two weeks we’ve met with either these individuals personally or with their attorneys.  And that would be four individuals who had ties in with the Biden family in their various schemes around the world. So now we have in hand documents  We have in hand documents in hand that show just how the Biden family was getting money from the Chinese Communist Party."

Tags: CHINA, POLITICS/ ELECTIONS/ CORRUPTION, WHITE HOUSE
Posted on: Mar 14 06:47

During the recent “Twitter Files” House hearings, Democratic Congresswoman Debbie Wasserman-Schultz used her six minutes not to explore the matter at hand, but rather to accuse journalist Matt Taibbi of hypocrisy, behaving unethically, and doing it all for personal enrichment. That’s right, Debbie Wasserman-Schultz, who had to resign in disgrace in 2016 from her position as head of the DNC after rigging the primary for Hillary Clinton, is accusing others of lacking ethics.

Tags: POLITICS/ ELECTIONS/ CORRUPTION
Posted on: Mar 14 06:43

An Israeli medical delegation recently traveled to Germany to train staff at a major Berlin hospital on how to continue working in times of war, especially during missile attacks.

The training has been requested by the German government amid growing fears that the war in Ukraine will spill over into other parts of Europe. Berlin turned for help to Israel’s leading Sheba Medical Center.

Tags: GERMANY, ISRAEL
Posted on: Mar 14 06:43

The author of the popular horror book series “Goosebumps” has recently admitted to being ignorant about some versions of his books being edited by the publisher.

 

American novelist R.L. Stine is the creator of the Goosebumps series of books, which is considered the second-highest selling in the world, trailing only Harry Potter. Goosebumps is estimated to have sold over 300 million copies worldwide. During a 2018 ebook re-release, publisher Scholastic edited the books to align with progressive ideologies that reflect a leftist version of social justice, diversity, and gender equality. There were rumors that Stine made the edits, but the author has refuted it.

“The stories aren’t true. I’ve never changed a word in Goosebumps. Any changes were never shown to me,” Stine said in a March 7 tweet. He was replying to another Twitter user’s post, which said, “The fact he supports censorship and the alteration of works of art is quite disturbing. How shameful.”

Tags: CURRENT EVENTS
Posted on: Mar 14 06:40

Rogers Roots, an attorney representing Dominic Pezzola, a Jan. 6, 2021, Capitol breach defendant, alleged on Sunday that the FBI had committed crimes by altering evidence and requested that the court appoint a special master to review the evidence.

Roots’s move came days after the testimony of FBI Special Agent Nicole Miller, who was involved in the agency’s investigations of the Jan. 6 defendants. When cross-examining Miller, Nick Smith, an attorney representing Proud Boys member Ethan Nordean (listed as co-defendant on Pezzola’s case), revealed classified FBI emails that were hidden in a tab in an Excel spreadsheet, which included a directive to Miller to “destroy” 338 pieces of evidence and “edit out” an FBI agent from an informant report.

Destroying evidence is a federal crime. It actually falls under a federal crime under more than one statute. The same goes with altering documents, altering records, that is a federal crime,” the John Pierce Law attorney told The Epoch Times in an interview on Sunday.

In a filing on Sunday, Roots requested that Timothy J. Kelly, a Trump appointee presiding over the case, either dismiss the case in its entirety or appoint a special master to independently review the FBI messages that were revealed in court.

Tags: COVER-UP/ DECEPTIONS/ PROPAGANDA, POLITICS/ ELECTIONS/ CORRUPTION
Posted on: Mar 14 06:38

There has been an avalanche of information and numerous theories circulating the past few days about the fate of a bank in California know as SVB (Silicon Valley Bank). SVB was the 16th largest bank in the US until it abruptly failed and went into insolvency on March 10th. The impetus for the collapse of the bank is tied to a $2 billion liquidity loss on bond sales which caused the institution’s stock value to plummet over 60%, triggering a bank run by customers fearful of losing some or most of their deposits.

There are many fine articles out there covering the details of the SVB situation, but what I want to talk about more is the root of it all. The bank’s shortfalls are not really the cause of the crisis, they are a symptom of a wider liquidity drought that I predicted here at Alt-Market months ago, including the timing of the event.

First, though, let’s discuss the core issue, which is fiscal tightening and the Federal Reserve. In my article ‘The Fed’s Catch-22 Taper Is A Weapon, Not A Policy Error’, published in December of 2021, I noted that the Fed was on a clear path towards tightening into economic weakness, very similar to what they did in the early 1980s during the stagflation era and also somewhat similar to what they did at the onset of the Great Depression. Former Fed Chairman Ben Bernanke even openly admitted that the Fed caused the depression to spiral out of control due to their tightening policies.

In that same article I discussed the “yield curve” being a red flag for an incoming crisis:

…The central bank is the largest investor in US bonds. If the Fed raises interest rates into weakness and tapers asset purchases, then we may see a repeat of 2018 when the yield curve started to flatten. This means that short term treasury bonds will end up with the same yield as long term bonds and investment in long term bonds will fall.”

Tags: CURRENT EVENTS, ECONOMY
Posted on: Mar 14 06:37

The Welsh government says that statues of “old white men” such as Admiral Nelson should be removed or even destroyed because they may be “offensive” to Britain’s increasingly multicultural population, with de facto shrines to diversity set to replace them.

The guidance, which is set to be finalized by the end of the month, argues that the memorials fuel the “perception that the achievements that society considers noteworthy are those of powerful, older, able-bodied white men.”

The government asserts that such statues “can be offensive to people today who see them in a different light,” including as “aggressors who conquered peoples to expand the British Empire.”

Any statue of any historical individual that far-left activists have accused of being embroiled in slavery or colonialism is now at risk of being toppled, including General Arthur Wellesley and admiral Horatio Nelson, who are both celebrated by most for their victories against Napoleon.

Tags: CURRENT EVENTS, GREAT BRITAIN/ UK
Posted on: Mar 14 06:29

Legions of European companies are succumbing to the final straw of Europe’s largely self-inflicted energy crisis. 

Bankruptcy proceedings in the Canary Islands, Spain’s heavily tourism-dependent island chain, soared a whopping 276% year over year in 2022, according to the latest data published by the General Council of the Judiciary (CGPJ) in its report, “The Effects of the Economic Crisis on Judicial Bodies.” The archipelago also saw the highest rate of dismissal claims in Spain, with around 400 of every 100,000 inhabitants losing their jobs.

But this trend is not unique to the Canary Islands, nor indeed Spain. It is happening across large swathes of Europe’s economies, as legions of businesses succumb to the final straw of Europe’s largely self-inflicted energy crisis.

In the EU as a whole the number of bankruptcy declarations initiated by businesses increased substantially (26.8%) quarter-on-quarter in the fourth quarter of 2022, reaching the highest levels on record since Eurostat began collecting EU-wide bankruptcy data in 2015. The number of bankruptcy declarations increased during all four quarters of 2022. As the Eurostat graph below shows, at the current rate of business destruction it won’t be long before businesses are closing at a faster rate than they are opening.

Tags: ECONOMY, EUROPE
Posted on: Mar 14 06:28

Democratic representatives are scrambling in the wake of the potentially contagious Silicon Valley Bank implosion, looking for a way to divert attention away from them should the crisis expand.  

One avenue for scapegoating the event that has been suggested among Dems and the media is to blame a 2018 law that eased Dodd-Frank capital requirements for midsize and small banks.  Republicans led the effort to pass the law, which President Donald Trump signed, but 33 House Democrats and 17 Senate Democrats also voted for it. 

No mention, of course, of the cancerous exposure SVB had to numerous woke investments through venture capital, including money losing ESG related projects, climate change-based companies and World Economic Forum stakeholder capitalism projects.

The Dems have found their narrative, which is an old narrative:  “The conservatives did it.”

Tags: CURRENT EVENTS, ECONOMY, POLITICS/ ELECTIONS/ CORRUPTION
Posted on: Mar 14 06:27

Joe Biden’s political utility and near senility serve as exemptions for his often sexist, racist, and creepy riffs...

Another couple of weeks, another bout of madness from Joe Biden and his team.

Of recent Biden delusions, consider:

Biden went off in one of his impromptu Corn Pop, or “beat-up-Trump-behind-the-bleachers” fables. These often slurred and nearly unintelligible tales characteristically virtue signal Biden’s own victimhood and “courage.” 

They are interspersed with his bizarre propensity for eerie female contact. So we see or hear of his long record of blowing into the ears and hair, or squeezing the necks of young girls. He hugs, for far too long, mature women. He can call out among a crowd an anonymous attractive teen stranger. Or, recently he relates an incoherent but quasi-sexual vignette. 

So Joe recalled his patient days in his usual off-topic “no lie/not kidding/no joke” manner (i.e., tip offs that he’s lying). He told us that a noble nurse once would “come in and do things that I don’t think you learn in medical school—in nursing school.” The president got a nervous laugh from the apparent quasi-pornographic reference (but then again Joe is excused because he is a “feminist”), before he detailed her technique:  

She’d whisper in my ear.  I didn’t—couldn’t understand her, but she’d whisper, and she’d lean down. She’d actually breathe on me to make sure that I was—there was a connection, a human connection.

Tags: WHITE HOUSE
Posted on: Mar 14 06:26

The Fed/TSY/FDIC stepped in and saved the world again last night... but nobody told regional banks, whose shares are down dramatically today...

Admittedly off the lows of the day, but all with multiple trading halts today. FRC, WAL, and MYFW are the highest default risk banks in the Russell 3000 Banks Subsector, according to Bloomberg...

Tags: CURRENT EVENTS, ECONOMY
Posted on: Mar 14 06:24

President Trump gave a speech from Iowa tonight on Education but he addressed other topics as well. 

Earlier today the President arrived and visited a local restaurant and then went to the arena where he spoke and where people lined up for hours to see him on this cold Iowa day.

President Trump promised to totally obliterate the DEEP STATE.  These crooks in the DOJ will be gone when Trump is elected.  He’s the only guy currently even talking about this very important issue.

Tags: POLITICS/ ELECTIONS/ CORRUPTION
Posted on: Mar 14 06:21

The banking system appears to be melting down in the United States as Inter-Bank Liquidity has fallen to almost zero.

The chart below shows it:

 

What this means is that banks are NOT lending to each other; not even for overnight, or over a weekend!

When Bankers stop lending to EACH OTHER, there are gigantic trust issues.  The Banking system seems to be coming apart in real time, today.

Tags: CURRENT EVENTS, ECONOMY
Posted on: Mar 14 06:18

The members of the heretical German Synodal Way have voted overwhelmingly in favor of a document replete with gender ideology that seeks to allow changing one’s listed sex on a baptismal certificate and paves the way for “transgender” priests. 

The text entitled “Dealing with gender diversity” was approved by more than 95% of all votes on March 11 during the fifth Synodal Assembly in Frankfurt am Main. Of the 58 German bishops, only seven voted against the text, while 13 abstained. As journalist Martin Bürger noted in a CNA Deutsch article, if the bishops who abstained had voted “no” instead, the document’s approval could have been blocked due to the required two-thirds majority for bishops. 

READ: No room for ‘inclusion’: Homosexuality and transgenderism are sins against nature itself 

The document stated that for intersex and “transsexual” Catholics, “it is made possible to omit the gender entry in the baptismal register or, as now provided for in German law, to enter ‘diverse,’” and that “[i]f the desire to change the gender entry arises at a later date, this is granted in an uncomplicated manner.” 

Tags: CURRENT EVENTS, RELIGION/ATHEISM
Posted on: Mar 14 06:17

A Sunday bank failure is an extremely rare occurrence.

Signature Bank failed on Sunday, marking only the sixth time a Federal Deposit Insurance Corp. (FDIC) bank failed on a Sunday, according to Bankrate’s analysis of FDIC data. It was also the first Sunday bank failure since 1991.

Tags: CURRENT EVENTS, ECONOMY
Posted on: Mar 14 06:16