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Authored by Rex Widerstrom via The Epoch Times (emphasis ours),

American winemakers have joined tech companies, beef producers, and pharmaceutical manufacturers in demanding U.S. President Donald Trump impose large tariffs on Australian imports.

The California Association of Winegrape Growers (CAWG) has taken issue with Australia’s 29 percent tax on imported wine, which it says is one of several “unfair, non-reciprocal trade practices” that disadvantage U.S. wine producers.

The formal complaint has been lodged with the Office of the U.S. Trade Representative, but the eventual decision will rest with the president, given Trump’s stated determination to impose tariffs as a tool to even out trade relations.

—many of whom have been growing grapes for generations—to go “out of business at an alarming rate.”The CAWG alleges that an “influx of cheap, imported bulk wine” into America is causing vineyards and farmers

The organisation admits the issue is “nuanced,” noting that not only do other countries’ tariffs disadvantage American growers, but many foreign competitors also benefit from lower production costs and “in many cases, generous public subsidies.”

It said the Australian government gives benefits to the local wine industry—including rebates, $100,000 grants, loans, and financial assistance—which “distort competition” for U.S. winemakers.

But while pleading its case to Trump, the CAWG isn’t optimistic that he’ll solve the issues they face.

“Despite the attention surrounding this latest tariff threat, it is unlikely that tariffs of this magnitude will be implemented in a sustainable or long-term manner. However, this moment presents a valuable opportunity to address the need for a level playing field for California winegrape growers,” said CAWG President Natalie Collins.

While bottled wines are an issue, it is bulk wine imports (finished wine shipped in large flexi-tanks, bladders, or containers) that “pose a more urgent and direct threat to California winegrowers,” the organisation said.

“Foreign bulk wine floods the U.S. at below-market prices, allowing companies to bottle and sell it under familiar ‘American’ brands, misleading consumers and undercutting domestic farmers. In 2024, an estimated 300,000 tons (272,000 tonnes) of California wine grapes went unharvested, while 38 million gallons (44 million litres) of cheap foreign bulk wine replaced California-grown grapes.

“Amid all the noise over tariffs, an actual, and very real, crisis is unfolding in California Wine Country. Winegrowers and wineries are being forced to make impossible decisions; ripping out vineyards, ending family businesses, and shutting down operations,” it says.

It also warns that any tariffs the president does decide to impose may be negated by other programmes.

“The federal duty drawback system, in its current form, further incentivises bulk imports by allowing companies to claim refunds on import duties and excise taxes; giving imported wine a competitive advantage in the U.S. market,” CAWG says.

“This flawed program may render tariffs ineffective if companies can simply recover those costs through duty drawback.”

Australia Incentivises Wine Growing for Tourism

Australia does provide support to its wine industry.

The Wine Tourism and Cellar Door Grants Programme allows wine and cider producers to apply for grants of up to $100,000 on eligible cellar door sales.

The government has so far provided $60 million through this programme, though—while it does support grape growers—it targets cellar door sales in Australia as part of tourism promotion and does not directly affect exports.

There’s also support for research and development through the Research and Innovation (R&I) Funding programme, though this is partly funded through a levy on growers, which the government then matches.

Last year, the government also announced a one-off $3.5 million grant package to support the industry’s long-term viability after it found itself dealing with an oversupply of red wine.

And Australian winemakers, along with other primary producers, can also benefit from initiatives such as $2 million in support last year for agricultural exporters to re-establish commercial connections in China and continue to diversify into other markets.

But unlike Australia, where consumption of alcohol has been steadily falling since around 1990, in America it has grown over the same period.

US Incentives for Local Growers

However, members of the CAWG also benefit from generous government assistance.

The CBMTRA (California Beverage Manufacturers Tax Relief Act) provides tax credits for wineries of all sizes, calculated based on the number of gallons produced.

The formula is: $1.00 per gallon for the first 30,000 gallons; $0.90 per gallon for gallons 30,001 to 130,000; and $0.53 per gallon for gallons 130,001 to 650,000. That applies whether or not the wine is exported.

U.S. wineries and their peak bodies can also apply for grant money, which can be used for market research and to help them determine if a particular market would benefit their business.

The U.S. wine industry is currently in crisis (pdf); numerous reports have outlined declining domestic sales due in part to a lack of interest among younger generations.

Authored by Katabella Roberts via The Epoch Times (emphasis ours),

President Donald Trump is withdrawing an executive order targeting New York-based law firm Paul, Weiss, Rifkind, Wharton & Garrison (Paul Weiss) after it agreed to review its hiring practices and provide tens of millions of dollars in free legal services to support some of his administration’s initiatives.

The March. 14 order suspended security clearances for Paul Weiss lawyers and restricted their access to government buildings and officials, citing the firm’s diversity policies. It also directed federal agencies to take steps to cancel U.S. government contracts “for which Paul Weiss has been hired to perform any service.”

Trump confirmed the withdrawal of the order in a March 20 statement on the social media platform Truth Social.

The decision followed Trump’s meeting with the law firm’s chairman, Brad Karp, “during which Mr. Karp acknowledged the wrongdoing of former Paul, Weiss partner, Mark Pomerantz, the grave dangers of Weaponization, and the vital need to restore our System of Justice,” according to the statement.

No further details were provided regarding the alleged wrongdoing.

*  *  *

You can support ZeroHedge by picking up a waxed canvas hat!

According to the statement, the law firm has agreed to dedicate the equivalent of $40 million in pro bono legal services over the course of Trump’s term “to support the Administration’s initiatives,” including assisting veterans and the president’s Task Force to Combat Antisemitism, among other projects.

It also affirmed its commitment to merit-based hiring, promotion, and retention, and will not adopt, use, or pursue any diversity, equity, and inclusion (DEI) policies, the statement said.

“As part of its commitment, it will engage experts, to be mutually agreed upon within 14 days, to conduct a comprehensive audit of all of its employment practices,” the statement said.

Paul Weiss also agreed that “the bedrock principle of American Justice is that it must be fair and nonpartisan for all,” the statement read.

It added that Paul Weiss affirms its “unwavering commitment to these core ideals and principles,” and “will not deny representation to clients, including in pro bono matters and in support of non-profits, because of the personal political views of individual lawyers.”

In response to Trump’s decision to withdraw the executive order, Karp said the firm was “gratified” and is looking forward to “an engaged and constructive relationship with the President and his Administration.”

Trump’s March 14 order also targeted Paul Weiss’s hiring of attorney Mark Pomerantz in 2022, a former partner of the law firm who left to work in the Manhattan district attorney’s office.

During his time at the district attorney’s office, Pomerantz was involved in an investigation into Trump’s alleged payments to Stephanie Clifford, better known as adult performer Stormy Daniels.

Pomerantz said in a statement that he “engaged in no wrongdoing by working as a prosecutor to uphold the rule of law.”

Trump’s order also mentioned a Paul Weiss partner and former leading prosecutor in the office of special counsel Robert Mueller who brought a pro bono lawsuit against individuals alleged to have participated in the Jan. 6, 2021 breach, of the U.S. Capitol, on behalf of the District of Columbia attorney general.

“My Administration has already taken action to address some of the significant risks and egregious conduct associated with law firms, and I have determined that similar action is necessary to end Government sponsorship of harmful activity by an additional law firm: Paul, Weiss, Rifkind, Wharton & Garrison LLP (Paul Weiss),” Trump wrote.

In recent weeks, Trump also signed a presidential memorandum targeting law firm Covington & Burling and an executive order targeting Perkins Coie. In response, Perkins Coie sued the administration in federal court in Washington last week.

A federal judge has temporarily blocked the administration from enforcing portions of the order on Perkins Coie, finding the law firm was likely to win its lawsuit alleging Trump’s actions violated the firm’s rights under the U.S. Constitution.

The Epoch Times reached out to Paul Weiss, Covington & Burling, and Perkins Coie for comment but did not receive a response by publication time.

Reuters and The Associated Press contributed to this report.

Tavish Forsyth, a woke leftist and former program director at the Kennedy Center’s Opera Institute, was fired after bizarrely stripping down in a 35-minute video posted on YouTube and X, during which he ranted against President Trump’s takeover of the national cultural center on the eastern bank of the Potomac River in Washington, D.C.

“Trump has taken over the Kennedy Center and that’s a place where I work,” Forsyth said in the video while clothed.

With a snap of his fingers, the troubled man went from clothed to naked in an utterly weird video. 

“Does staying make me a collaborator or somehow complicit in a hostile government takeover that’s systematically targeting the livelihood and liberty of poor people, queer people, Black/brown people, people of color, immigrants, Muslims, victims in war-torn countries, ethnic cleansing, women?” Forsyth said, adding, “And gosh, when I put it that way it seems obvious. Fuck Donald Trump and the Kennedy Center.”

The crazed leftist also called Elon Musk a “Nazi.”

Forsyth posted the video on Wednesday, and one day later—according to the New York Post, citing Roma Daravi, vice president of public relations at the Kennedy Center—the pronoun-wielding activist was fired. 

“The video was extremely disturbing and does not represent the values of the Kennedy Center. Most concerning of all, his contracted position was specifically to work with minors,” Daravi told NYPost. 

Daravi said, “Who knows what kind of radical ideology they have been pushing on the youth. Not anymore. They’re fired.”

Public records and forensic data reveal that Forsyth is the founder of Bird City Improv, LLC, which is described on the company’s website as a “liberation-focused school, improv theatre, and consultancy that centers the experiences and wisdom of queer, BIPOC, and femme artists.” 

Bird City Improv offers “accessible workshops, community-focused classes, and personal coaching” on all things woke and has worked with these entities:

• Maryland Economic Development Association

• Agora Financial 

• T. Rowe Price

• Johns Hopkins

And others… 

Maryland State Arts Council’s website has an entire section dedicated to the DEI warrior, promoting his services and explaining his audience types: “High School (9-12 grade), Creative Aging (Older Adults), LGBTQ+ community, Educators, Other Population/Community.” 

For DOGE, we suggest looking into the taxpayer-funded grants that have funded/ or are funding Forsyth’s DEI activism… 

As for Forsyth—well, melting down naked on camera is bizarre. There’s a great mental hospital north of Baltimore called Sheppard Pratt. 

Authored by Michael Snyder via The Economic Collapse blog,

Most Americans have absolutely no idea how we got into the mess that we are in today.  The reason why the U.S. government is 36 trillion dollars in debt and our society as a whole is 102 trillion dollars in debt is because the system is performing exactly as it was designed.  We have a system that was literally designed to create colossal amounts of debt.  But if you ask most Americans about this, they cannot tell you what the Federal Reserve is or why it is at the heart of our economic problems.  When Americans get into discussions about the economy, most of them still blame either the Democrats or the Republicans for our rapidly growing economic problems.  But the truth is that the institution with the most power over our economic system is the Federal Reserve.  

So exactly what is the Federal Reserve?  Most people would say that it is an agency of the federal government.  But that is not entirely accurate.  In fact, the Federal Reserve itself has argued in court that it is not an agency of the federal government.   The truth is that the Federal Reserve is a privately-owned banking cartel that has been given a perpetual monopoly over our monetary system by the U.S. Congress.  This privately-owned central bank has been destroying the value of the U.S. dollar for decades, it has run our economy into the ground, and it has driven the U.S. government to the brink of bankruptcy.  The Federal Reserve operates in great secrecy  and it acts as if it is not accountable to the American people.  Yet the decisions that the Federal Reserve makes have a dramatic impact on the lives of every single American citizen.

If you really want to understand what is causing our economic problems, it is absolutely crucial that you understand exactly what the Federal Reserve is and how it is systematically destroying our economy.  Once you understand the truth about the Federal Reserve, you will view economic issues a whole lot differently.

The following are 19 reasons why the Federal Reserve is at the heart of our economic problems…

#1 The Federal Reserve is the central pillar of our debt-based financial system.

The way our system is designed, normally no money comes into existence without more debt being created.

But this creates a huge problem, because when a new dollar is created, the interest that will be owed on that new borrowed dollar is not also created at the same time.

Therefore, the amount money that is created is not equal to the larger amount of debt that is also created.

This is a Ponzi scheme that is designed to drain wealth from the American people and transfer it to the elite.

Today, the amount of debt in our economic system is far, far, far greater than the total amount of money.

The only way to keep the game going is to create even more money which creates even more debt.

#2 The Federal Reserve and the bankers have a monopoly on the creation of this debt-based money.

In the United States today, the only people that can create money are the bankers.

You cannot create money.

You would go to jail if you tried.

Even the U.S. government is not permitted to create money.

Although the U.S. Constitution specifically gives Congress the power to create money, the U.S. Congress has relinquished that power to the Federal Reserve.

This gives the Federal Reserve an enormous amount of power.

If you pull out a dollar bill, you will notice that it says “Federal Reserve Note” right at the top.

In the financial world, a “note” is an instrument of debt.

According to Investopedia, a “note” is “a debt security obligating repayment of a loan, at a predetermined interest rate, within a defined time frame”.

So is a “Federal Reserve Note” actually a “debt security”?  Investopedia says that it is…

Technically, yes, a federal reserve note is a promissory note that does not pay any interest. It is defined as such because it states that “this note is legal tender for all debts, public and private,” indicating a promise for the government and private citizens to accept and honor the note as legal tender.

Our financial system is nothing but a giant pile of debt.

Ultimately, the entire system is designed to drain our wealth and put it into the hands of the bankers.

#3 The power of money creation and debt creation is in the hands of private banks – not the government.

The Federal Reserve has claimed that it is an “entity within the government, having both public purposes and private aspects”.

That sounds so reasonable, but the truth is that the Federal Reserve is a legalized banking cartel that is privately-owned.

In fact, the Federal Reserve is about as “federal” as Federal Express is.

In defending itself against a Bloomberg request for information under the Freedom of Information Act, the Federal Reserve objected by declaring that it is “not an agency” of the U.S. government and therefore it is not subject to the Freedom of Information Act.

So if it is not a government agency, who owns the Federal Reserve?

On the official website of the Federal Reserve Bank of St. Louis, we learn that the Federal Reserve Banks “are not a part of the federal government” and that private banks “hold stock in the Federal Reserve Banks and earn dividends”…

The Federal Reserve Banks are not a part of the federal government, but they exist because of an act of Congress. Their purpose is to serve the public. So is the Fed private or public?

The answer is both. While the Board of Governors is an independent government agency, the Federal Reserve Banks are set up like private corporations. Member banks hold stock in the Federal Reserve Banks and earn dividends.

#4 The Federal Reserve itself is not a profit-making institution.  Rather, it is a tool that enables others to make obscene amounts of money.

There are many that think of the Federal Reserve as an evil profit-making machine.  But the truth is that the Fed itself wasn’t designed to make money.  Rather, the system was set up so that others could make an obscene amount of money from all of the debt that the system creates.

If the U.S. government had been issuing debt-free money all this time, the U.S. government would likely not be spending one penny on interest payments.  Instead, the U.S. government will spend over a trillion dollars just on interest on the national debt in 2025.  This is money that belongs to U.S. taxpayers that is transferred to the U.S. government which in turn is transferred to wealthy international bankers and other foreign governments.

This is the magic of the Federal Reserve system.  It is about getting the U.S. government enslaved to debt and using that debt to transfer trillions of dollars of our wealth into the hands of others.

As interest rates go up, this transfer of wealth is going to become even more brutal.

As you fill out your tax return this year, just keep in mind that vast quantities of our money is going to pay interest on debt that the U.S. government never needed to take on.

There are some very happy people out there that are becoming fabulously wealthy at our expense.

What a system, eh?

#5 The Federal Reserve is a perpetual debt machine.

As mentioned above, the U.S. government is enslaved to debt.

So how did it get enslaved?

Well, instead of printing up and spending the money that it needs, the U.S. government borrows it through the Federal Reserve system at interest.

In fact, as noted above, the U.S. government cannot create a single new dollar without borrowing it.

But each new dollar that the U.S. government borrows creates more than a dollar of new debt.

As a result, the government eventually has to collect more in taxes than what it has borrowed.

This phenomenon creates an endless debt spiral.

Is that not what we have in the United States today?  In fact, you see this in almost every nation on Earth where a similar central banking system has been established.

Did you know that the U.S. national debt is more than 10,000 times larger than it was 100 years ago?

Back in 1910, prior to the passage of the Federal Reserve Act, the national debt was only about $2.6 billion.

Now we are more than 36 trillion dollars in debt.

The only way that the U.S. government can inject more money into the economy is by going into more debt.  But when new government debt is created, the amount of money to pay the interest on that debt is not also created.  In this way, it was intended by the international bankers that U.S. government debt would expand indefinitely and the U.S. money supply would also expand indefinitely.  In the process, the international bankers would become insanely wealthy by lending money to the U.S. government.

However, things did not have to turn out this way.

If the Federal Reserve had never been created, and the U.S. government had been issuing debt-free currency all this time, it is entirely conceivable that we would have absolutely no federal government debt at this point.

Unfortunately, we are now trapped in a debt-based system.

The U.S. national debt simply cannot ever be paid off.  U.S. government debt has been mathematically designed to expand forever, and it has become a trap from which there is no escape.

#6 The Federal Reserve system is designed to cause inflation.

As U.S. government debt expands at an exponential pace, it inevitably causes inflation.

Most Americans believe that inflation is a fact of life, but the truth is that the United States has only had a major, ongoing problem with inflation since the Federal Reserve was created back in 1913.

Sadly, the U.S. dollar has lost about 99 percent of its value since the Federal Reserve was created.

If the Federal Reserve did not exist, it is theoretically conceivable that we could have an economy with little or no inflation.  Of course that would greatly depend on the discipline of our government officials (which is not very great at this point), but the sad truth is that our current system is always going to produce inflation.

Federal Reserve officials try to keep the official rate of inflation in single digit territory, but they are not always successful.

#7 The Federal Reserve has decided to play bizarre games with our money supply.

In a desperate attempt to revive the dying U.S. economy, the Federal Reserve has resorted to chucking gigantic quantities of money into the financial system.

Remember how earlier I explained that normally whenever new money is created that more debt is created?

Well, in recent years the Fed has been resorting to a trick called “quantitative easing”.  What “quantitative easing” means is that the Federal Reserve zaps massive amounts of money into existence out of thin air and injects it into the financial system.  This has primarily been done by purchasing large quantities of U.S. Treasuries.

But isn’t that “monetizing the debt”?

Of course it is, and it is a blatant Ponzi scheme.

However, what is even more alarming is what this is doing to our money supply.

Just look at what has happened to our monetary base since the later stages of 2008….

It was inevitable that this rapid expansion of our monetary base was going to cause horrifying inflation.

Anyone that thought otherwise was just being delusional.

Now we are in a cost of living crisis that has no end in sight, and most Americans still do not understand who is responsible.

#8 The Federal Reserve is undemocratic.

What makes the central economic planning that the Federal Reserve does different from the central economic planning that communist China does?

Sadly, there really isn’t much of a difference.

Only in our case, the central planners don’t have to answer to anyone.

President Trump cannot order the Federal Reserve to do anything.

The Federal Reserve does not have to answer to Congress either.

It has been called “our fourth branch of government”, and it is totally out of control.

#9 The Federal Reserve runs the U.S. economy.

Most Americans want to blame Joe Biden or Donald Trump or the U.S. Congress for the state of our economy.

But the truth is that it is the Federal Reserve that sets interest rates, it is the Federal Reserve that determines the size of the money supply, it is the Federal Reserve that sets the “target rate” of inflation, it is the Federal Reserve that determines if unemployment is too high or too low, and it is the Federal Reserve that watches over all of our banks.

Yes, the politicians in Washington all have things to answer for as well.

But the politicians in Washington do not have the direct power over the economy that the Federal Reserve does.

#10 The Federal Reserve favors the big banks.

Not all financial institutions are treated equally by the Fed.

The truth is that the big banks (particularly those in New York) are treated with great favor by the Federal Reserve.

During the global financial crisis, the Federal Reserve made over $9 trillion in overnight loans to major banks and large financial institutions.

Wouldn’t you like to be able to zap trillions of dollars into existence and loan it out to your friends at very favorable terms?

Sadly, most of the “help” from the Federal Reserve always seems to go to the big boys.

When “small enough to fail” banks need assistance, they are usually told to go sell themselves to one of the big banks.

#11 The worse the debt problems caused by the Federal Reserve become, the more money the IRS needs to collect from the rest of us.

If the U.S. government could issue debt-free money, it is conceivable that we would not even need the IRS.  You doubt this?  Well, the truth is that the United States did just fine for well over a hundred years without a national income tax.  But in the same year the Federal Reserve was created, a national income tax was instituted as well.  The whole idea was that the wealth of the American people would be transferred to the U.S. government by force and then transferred into the hands of the ultra-wealthy in the form of interest payments.

If the Federal Reserve was shut down, it is entirely possible that we would be able to shut down the IRS as well.

But the only way that the current system works is if massive amounts of wealth continue to be drained from the American people.

#12 The Federal Reserve creates artificial financial bubbles.

When you look back over the last several decades, you will find financial bubble after financial bubble.

So who created all of those bubbles?

It was the Federal Reserve.

The ridiculous policies of the Fed have wrought disaster after disaster and yet most of our politicians still will not even consider major changes to the Federal Reserve.

#13 The Federal Reserve is anti-free market.

In a true free market system, the marketplace would determine what interest rates are.

In a true free market system, the marketplace would determine which financial institutions survive.

In a true free market system, artificial financial bubbles would be far less likely.

But we don’t have a true free market system.

#14 The Federal Reserve tells the rest of the our banks what to do.

Most Americans don’t understand just how much power the Federal Reserve actually has over our local banks.

The Fed is the chief regulator of the banking system, and that is extremely unfortunate.  The following comes from the Fed’s official website…

The Federal Reserve’s supervision activities include examinations and inspections to ensure that financial institutions operate in a safe and sound manner and comply with laws and regulations. These include an assessment of a financial institution’s risk-management systems, financial conditions, and compliance.

That paragraph makes it all sound so benign.

But the truth is that the Fed can be quite tyrannical.

For example, Fed officials once walked into one bank in Oklahoma and demanded that they take down all of the Bible verses and all of the Christmas buttons that the bank had been displaying.

#15 The people currently running the Federal Reserve pretty much have no idea what they are doing.

You may have noticed that Federal Reserve Chairman Jerome Powell has a very long track record of incompetence.  Nearly every major judgment that he has made since taking over that position has been dead wrong.

If one of us could go down the street and appoint the manager of the local Dairy Queen as the Chair of the Federal Reserve, it is very doubtful that person would do a worse job than Powell has done.

#16 Even though the Federal Reserve has such extraordinary power over the financial system, the American people are not permitted to examine their  books.

The Federal Reserve claims that it is regularly audited, but when some members of Congress attempted to push through a true comprehensive audit Federal Reserve officials threw a hissy fit.

The truth is that the Federal Reserve has never undergone a true comprehensive audit since it was created back in 1913.

Whenever the subject of an audit comes up, the Fed keeps repeating the mantra of how important “the independence of the Federal Reserve” is.

Sadly, Ron Paul’s proposal to audit the Federal Reserve when he was still a member of Congress ultimately failed.

Instead, a very limited examination of Fed transactions that occurred during the global financial crisis was approved.

So what did that limited examination reveal?

Well, the Federal Reserve was forced to reveal the details of 21,000 transactions stretching from December 2007 to July 2010.  It turns out that the Federal Reserve was just handing out gigantic piles of nearly interest-free cash to their friends at the largest banks, financial institutions and corporations all over the globe.

Many members of Congress were absolutely stunned by these revelations.

So what would a more comprehensive audit reveal?

#17 The Federal Reserve has way too much power.

If the Federal Reserve did not exist, we would not have an unelected, unaccountable “fourth branch of government” running around that has gotten completely and totally out of control.

Today, global financial markets react instantly whenever a Fed official makes a public statement.

And when the Fed hikes interest rates or monkeys around with the money supply it has a dramatic impact on all of us.

Ron Paul once told MSNBC that he is convinced that the Federal Reserve has actually become more powerful than Congress…

“The regulations should be on the Federal Reserve. We should have transparency of the Federal Reserve. They can create trillions of dollars to bail out their friends, and we don’t even have any transparency of this. They’re more powerful than the Congress.”

#18 The Federal Reserve is dominated by Wall Street and the New York banks.

The New York representative is the only permanent member of the Federal Open Market Committee, while representatives from the other regional banks rotate.  The truth is that the Federal Reserve Bank of New York has always been the most important of the regional Fed banks by a very wide margin, and in turn the Federal Reserve Bank of New York has always been heavily influenced by Wall Street and the major New York banks.

#19 The Federal Reserve has brought us to the brink of economic collapse.

If the Federal Reserve had never been created, the American people would not be so enslaved to debt.

Nobody can deny that debt is at the very core of our economic problems.  U.S. consumers are drowning in debt, state and local governments are facing horrific debt problems from coast to coast, and our federal government has piled up the biggest mountain of debt in the history of the world.

We are living in an absolutely massive debt bubble, and when it bursts the world is going to experience financial chaos like it has never seen before.

Things did not have to turn out this way.

We did not have to adopt a debt-based financial system, and we did not have to allow the bankers to enslave us with debt.

But that is what happened.

Sadly, most Americans and the vast majority of our politicians are still clueless about these issues.

In 1922, Henry Ford wrote the following…

“The people must be helped to think naturally about money. They must be told what it is, and what makes it money, and what are the possible tricks of the present system which put nations and peoples under control of the few.”

Hopefully this article will help people understand our debt-based financial system a little bit better.

Until we fundamentally change our system, many of the economic and financial problems that we are currently experiencing will never go away.

The borrower is the servant of the lender, and by allowing ourselves to become enslaved to debt we have become the servants of the international banking system.

Not only that, we have also sold our children and our grandchildren into perpetual debt slavery.

Thomas Jefferson tried to warn us about this.

He believed that when the government borrows money in one generation which must be paid back by future generations it is equivalent to stealing…

And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.

In fact, Thomas Jefferson said that if he could add one more amendment to the U.S. Constitution it would be a ban on all government borrowing…

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.

Where would we be today if we had chosen to listen to Thomas Jefferson?

The amount of government debt that we have racked up is a great evil.  We have stolen the future away from our children and our grandchildren.  We have put them in a position where they will spend the rest of their lives paying off our debts to the bankers.

We owe it to future generations to fix the problems that we have created.

That is why so many of us believe that it is time for the U.S. Congress to shut down the Federal Reserve.  Our current financial system is a complete and utter failure and we need to start over.

*  *  *

Michael’s blockbuster entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

Is the Hezbollah-Israel ceasefire now also on the brink of collapse? Israel increasingly looks to be returning to war on multiple-fronts, as had previously been the case for well over a year in the wake of Oct.7.

The Israel Defense Forces (IDF) announced Saturday that it intercepted three projectiles fired from Lebanon, after six total were fired, with the other three having fallen short inside Lebanon.

The IDF responded with “a wave of airstrikes on dozens of Hezbollah rocket launchers” and a Hezbollah command center, a statement indicated.

There were no reports of damage or injuries inside Israel, but the incident is the first major exchange of fire episode in months, and could mark the beginning of a slide toward a renewed Hezbollah war.

But Hezbollah in a statement denied it was behind the fresh launches out of southern Lebanon. In a statement, the Iran-backed paramilitary group said it “reiterates its commitment to the ceasefire agreement and stands behind the Lebanese state in addressing this dangerous Zionist escalation against Lebanon.”

Israeli warplanes were seen as active over parts of Lebanon, as has been the pattern for many months, also amid airstrikes into Syria. BBC has underscored:

Hezbollah, the main armed group active in Lebanon, said it had not carried out the attack, and that it remained committed to the ceasefire that ended 14 months of conflict in Lebanon.

This is the worst violence since the fragile ceasefire, brokered by the US and France, came into effect.

Lebanese Prime Minister Nawaf Salam warned warned that Lebanon is on the brink of being drawn into a “new war.”

الغارة الاسرائيلية المعادية التي استهدفت بلدة #يحمر #الشقيف قبل قليل pic.twitter.com/bIFIplchgH

— nbnlebanon (@nbntweets) March 22, 2025

“All security and military measures must be taken to show that Lebanon decides on matters of war and peace,” Salam said.

“Salam warned of renewed military operations on the southern border, because of the risks they carry dragging the country into a new war, which will bring woes to Lebanon and the Lebanese people,” a statement read. The country is still in a painful rebuilding process, after Israeli airstrikes demolished whole neighborhoods primarily in south Beirut.

By Tsvetana Paraskova of OilPrice.com

Germany has seized an oil tanker of the Russian shadow fleet that was found adrift in the Baltic Sea in January, German magazine Spiegel reported on Friday, quoting security sources.

The tanker, Eventin, was traveling under the flag of Panama when German authorities said in January that the vessel, belonging to the Russian shadow fleet, was stuck in German waters in the Baltic Sea.

The tanker had lost power and steering and was found adrift in the sea, north of the German island of Rügen.

Germany secured the vessel and blamed Russia for the use of a shadow fleet of tankers.

“Russia is endangering our European security not only with its illegal war of aggression against Ukraine, but also with severed cables, displaced border buoys, disinformation campaigns, GPS jammers and, as we have seen, dilapidated oil tankers,” German Foreign Minister Annalena Baerbock said at the time.

Two months after the incident was reported, Germany has now seized the tanker along with its cargo of about 100,000 tons of crude oil, Spiegel reports. The ship and the cargo, which is worth about $43 million (40 million euros), are now the property of Germany.

The tanker’s original route was to ship the oil from the Russian port of Ust-Luga through the Baltic Sea to Port Said in Egypt.

When found adrift in German waters, the tanker was towed to the waters off Sassnitz, due to an imminent danger of oil spill from the decrepit vessel. German coast guard and federal police have been monitoring the tanker since then, Spiegel reports.

Eventin was included in the latest EU sanctions against Russia at the end of February. The EU’s 16^th sanctions package against Russia targeted 74 additional vessels, bringing the total number of sanctioned vessels to 153.

“These vessels are part of the shadow fleet or contributed to Russia’s energy revenues,” the EU said.

Iceland’s minister for children has resigned after admitting she had a child over 30 years ago with a 16-year-old boy while she was a 22-year-old church group counselor, according to the New York Post.

Ásthildur Lóa Thórsdóttir, whose name has forced us to remember Word keystrokes we haven’t used in years, is now 58 and a member of the center-left People’s Party.

She confirmed the relationship after local outlet RUV received a tip. She revealed the teen father was present during the birth, and later paid child support.

The NY Post article says that the teen father, Eirík Ásmundsson, paid child support for 18 years, though Thórsdóttir allegedly limited his access to the child after marrying, according to reports.

“I understand… what it looks like,” Thórsdóttir said, claiming it’s “very difficult to get the right story across in the news today.”

While Iceland’s age of consent is 15, sex with a minor under 18 is illegal if one is their teacher or mentor.

It’s unclear if authorities are investigating. Thórsdóttir resigned as minister after being summoned by Prime Minister Kristrún Frostadóttir, who called it a “very personal matter.” Thórsdóttir says she’ll stay in parliament because…well, of course she will.

U.S. President Donald Trump has promised to visit Fort Knox “to make sure the gold is there.”

Officially, the United States Bullion Depository (commonly known as Fort Knox) holds over half of the Treasury’s $428 billion of gold reserves.

In this graphic, Visual Capitalist’s Bruno Venditti puts that amount into perspective by comparing Fort Knox’s reserves with central bank gold reserves worldwide.

The data comes from the U.S. Mint and the World Gold Council. For illustrative purposes, we considered a pallet of 1,190 gold bars (400 troy ounces each) weighing approximately 14.8 tonnes.

What Is Fort Knox?

Located in Kentucky, Fort Knox is a U.S. Army installation that serves as the primary storage site for America’s gold reserves. The facility was established in the 1930s to protect gold from potential foreign attacks.

The first gold shipment arrived in 1937 via U.S. Mail from the Philadelphia Mint and the New York Assay Office. During World War II, Fort Knox safeguarded important U.S. documents, including the Declaration of Independence, the Constitution, and the Bill of Rights. It has also housed international treasures, such as the Magna Carta and the crown, sword, scepter, orb, and cape of St. Stephen, King of Hungary, before they were returned in 1978.

Currently, it holds 4,175 tonnes of gold, equivalent to nearly half of China’s gold reserves and four times the Swiss central bank’s reserves.

Only small samples have been removed for purity testing during audits; no major transfers have occurred for years.

Gold Bar Specifications

• Size: 7 inches × 3 5/8 inches × 1 3/4 inches
• Weight: 400 ounces (27.5 pounds)

Extreme Security

Only a select few know the full security procedures, and no single person knows how to fully open the vault.

In 1974, a group of journalists and a Congressional delegation were allowed inside—marking the first official visit since Fort Knox’s creation. Previously, President Franklin D. Roosevelt was the only person other than authorized personnel to access the vaults.

In 2017, Treasury Secretary Steve Mnuchin, Kentucky Governor Matt Bevin, and several Congressional representatives became the second group to visit the vault.

If gold was shared equally, how much would you get? Check out this graphic to find out.

France has talked a big, hawkish anti-Russia game of late, but this week President Macron has actually backed up the rhetoric with action, but which brings Europe another step closer to nuclear escalation with Moscow.

France unveiled earlier this week plans to establish a new nuclear-capable air base, which will be its fourth, also to be home to two squadrons of the latest version of its domestic-made Dassault Rafale multirole fighter.

France plans to invest around 1.5 billion euros ($1.6 billion) to establish the new nuke-capable installation. A moment, the three air bases equipped with secure weapons storage for nuclear missiles are: Saint-Dizier, Istres, and Avord.

Speaking of the location of what will become the next base to play nuclear host, Macron said, “The Luxeuil air base is about to be upgraded in an unprecedented way and regain its full role in France’s nuclear deterrent,” describing that it will need “massive investment” to be modernized.

“Announcing the storage of modern nuclear missiles on an air base less than 200 kilometers from the German border is strategic signaling,” Politico has commented. “It also comes after Germany’s chancellor-in-waiting Friedrich Merz said he wanted to hold talks about France’s nuclear deterrent as fears grow of a U.S. retreat from the continent.”

“If we are to avoid war, our country and our continent must continue to defend, equip and prepare themselves,” Macron said.

Storing ASN4G air-launched hypersonic nuclear missiles there will require the permanent staff to double to at least 2,000 people. The French President set a bar of preparing Luxeuil to host an expansion of next-generation Rafale fighter jets and their hypersonic nuclear missiles by the year 2035.

The double-engine Rafale is capable of flying supersonic speeds and can depart runways as short as 400 meters. Produced by Dassault Aviation, it has been a central fighter of the French Air Force since 2000.

Macron has recently floated the idea of France extending its nuclear deterrent to all of Europe, amid fears in NATO that the US under Trump is retreating from its leadership role, also as Washington holds direct talks with Moscow.

France remains the only nuclear power in the European Union, and it possesses some 290 nuclear warheads – according to media estimates – which is why Russian leaders have slammed all of Macron’s latest comments as “extremely confrontational”. 

Authored by Andrew Korybko via substack,

This suggests that Russia expects a political settlement or at least an armistice within the next six months so it’s now prioritizing the further legitimization of its control over the new regions by finally completing their legal integration into the country at the local administrative level by 10 September.

Putin signed a decree on Thursday obligating all Ukrainians in Russia without valid residence documents to legalize their stay by 10 September. They can do this by either applying for Russian citizenship via the simplified procedure for Ukrainian nationals that entered into force in summer 2022 or for residency by either proving legal employment or enrollment in a Russian education program. Many assumed that this had already happened some time ago, especially in the new regions, yet it’s only just now occurring.

Some Ukrainian nationals’ legally ambiguous status doesn’t mean that the state isn’t aware of who they are and what they’re doing, just that it wasn’t hitherto a priority to clarify this with regard to Russian law, likely due to stereotypically slow bureaucracy and the state’s focus on waging the special operation. With the Ukrainian Conflict drawing to a close due to the nascent Russian–US “New Détente”, it’s now time to wrap up loose ends such as these for further legitimizing Russia’s control over its new regions.

Ukrainian and other foreign nationals must therefore legalize their presence there just as they’d have to do in any other country otherwise it would look like Russia is doubting the legitimacy of its own claims by making an exception for these locals. If Putin didn’t get around to decreeing that this is finally done within less than six months, the timeframe of which suggests approximately how long he expects the peace process to last at max, then that category of residents would literally be above the law.

From there, Ukraine could claim that Russia is “atoning for its guilty conscience of illegally occupying foreign land” by letting the locals over whom the state assumed responsibility “preserve their separate Ukrainian legal status”, thus serving as the pretext for Kiev to meddle in those lands after hostilities end. By mandating that they voluntarily legalize their presence in line with Russian law or be deported, Moscow neutralizes Kiev’s aforesaid claims, thus delegitimizing any post-conflict meddling on that basis.

In other words, this decree is meant to facilitate the incipient peace process by fortifying Russia’s legal claims to the four former Ukrainian regions that unified with it after September’s 2022 referenda, which reaffirms that Russia won’t cede these lands since they’re now being fully treated as integral territories. They were constitutionally considered as such for over two and a half years, but local bureaucracy took a long time to catch up in all legal regards, though that’s finally changing as a result of Putin’s decree.

Ukraine will predictably try to exploit this move by claiming that it amounts to some violation of the locals’ rights, but the reality is that locals can continue living as they were before the latest phase of the conflict broke out in early 2022, they just have to abide by Russian law. That was already the case ever since the state assumed responsibility for them, but it’ll now be more strictly enforced as the situation begins normalizing, which will likely lead to a ramping up of the FSB’s counter-intelligence operations.

After all, some of these same locals might remain loyal to Ukraine even after legalizing their presence, in which case they could gather and pass along intelligence about local military-political developments and/or carry out acts of terrorism. That was always a threat and will remain one far into the future, albeit under more difficult conditions for Kiev’s assets than ever before as these lands complete their integration into Russia after Putin’s latest decree with all that entails for strengthening local security.