The anticipation surrounding the 2024 American presidential election raises the question: what would it be without a dramatic event such as an assassination attempt?
These days, it seems that irrational individuals are everywhere, whether they’re at the grocery store or fueling up their vehicles. They wander through our towns, drawn in by sensational media narratives.
Many of these individuals, engulfed in delusions, have adopted extreme views. They regard Donald Trump as a modern-day Hitler. Consequently, some feel compelled to partake in shaping history through nefarious means.
This wave of social and political turmoil will likely persist long after election day, potentially dragging on for years or even decades. There could be repetitions of scandals like Russiagate, orchestrated crises, unnecessary military conflicts, or even worse scenarios.
As America’s empire crumbles, the likelihood of a fair election and a peaceful transfer of power becomes increasingly questionable. The stakes are high, with too much corrupt money and power involved, casting doubt on the voters’ ability to truly choose the next president of the United States. Continue reading
The story of finance and power stretches back to Florence, Italy in 1397, when Giovanni di Bicci de’ Medici established the Medici Bank.
This marked the inception of a system intertwining banking, business, and politics for the consolidation of wealth and influence.
During the 15th century, the Medici family was reputed to be the wealthiest in Europe, controlling immense amounts of land, gold, and artistic treasures. They wielded this wealth to gain significant political power, first in Florence and later throughout Italy and beyond.
The family also forged strategic marriages to enhance its stature, with Catherine de Medici becoming queen of France through her union with Henry II.
Shortly after the Medici Bank’s foundation, the first true precursor to a modern central bank emerged in the form of the Banco di San Giorgio in 1407, created as a financial lifeline for the Republic of Genoa. Continue reading
[Editor’s Note: This edition of the Economic Prism has been published in years past to coincide with the Independence Day holiday. The themes explored within grow increasingly relevant with each passing year. We are republishing it with several light updates. Enjoy!]
Time and Place
During the sweltering summer days in the Northern Hemisphere, true American patriots rally together to celebrate their nation’s independence. On July 4th, these free spirits, loyal to duty and self-sacrifice, gather to honor their freedoms, albeit accepting federal holiday pay.
They unite as jubilant crowds along coastlines, indulging in hot dogs, tossing horseshoes, and sipping on sweetened beverages and beer. As the sun sets and the stars begin to twinkle, they cheer and celebrate the artistry of fireworks.
These celebrations affirm that even amidst an expansive government, there remain moments to cherish the principles of self-governance. Everyone is invited to join, provided they adhere to formalities such as vehicle registration, income tax payments, and having up-to-date vaccination records. Continue reading
Did you know the Federal Deposit Insurance Corporation (FDIC) maintains a confidential list of struggling banks?
This list identifies banks at risk of failure but remains hidden from the public eye. The FDIC’s intent is to keep depositors unaware of the financial troubles of their banks to prevent panic that could lead to bank runs.
By keeping this list secret, the FDIC aims to assist these banks in regaining stability. Their ultimate goal is to avert widespread bank failures.
To be classified as a problem bank and placed on this confidential list, a bank must receive a CAMELS rating of 4 or 5 from FDIC examiners. This acronym signifies various health metrics — Capital, Assets, Management, Earnings, Liquidity, and Sensitivity.
Ratings range from 1 (the best) to 5 (the worst). On May 29, the FDIC published its Quarterly Banking Profile for the first quarter of 2024. Notably, 11 additional banks were added to the FDIC’s problem banks list, raising the total from 52 to 63. Continue reading
