"By tracking every financial transaction, they will have access to every detail of our spending, the recipient of our money, and how we allocate our resources. In essence, it replicates George Orwell’s dystopian society depicted in 1984," critics have argued.
Speaker of the House Kevin McCarthy (R-CA) announced an “agreement in principle” with Joe Biden on a deal to raise the federal debt ceiling Saturday night.
New York City Democratic Mayor Eric Adams blasted President Biden Friday, saying that the White House’s policies on the border issue has turned the city into a disaster.
"The dollar suffered a stunning collapse in 2022 in its market share as a reserve currency, presumably due to its muscular use of sanctions," says CEO and co-CIO of Eurizon SLJ Capital.
"There is risk when we use financial sanctions that are linked to the role of the dollar that over time it could undermine the hegemony of the dollar," Yellen said, adding that implementing sanctions against Russia "does create a desire on the part of China, of Russia, of Iran to find an alternative."
Federal regulators will testify before the House Financial Services Committee on March 29 about the Silicon Valley Bank (SVB) and Signature Bank collapses, according to a press release.
Treasury Secretary Janet Yellen's admission that the government is picking winners and losers in the bank bailout process, particularly disadvantaging community banks, could lead to the consolidation of banking power in the hands of a few large institutions, according to critics.
Home Depot co-founder Bernie Marcus believes the collapse of Silicon Valley Bank "will finally wake up" Americans to "understand that we’re living in very tough times."
