Authored by Joseph Lord via The Epoch Times,

Director of National Intelligence Tulsi Gabbard on April 16 fulfilled her past promise to declassify information related to President Joe Biden’s domestic counterterrorism strategy.

Dubbed the “Strategic Implementation Plan” (SIP), the 15-page-long document details the Biden administration’s findings and action plan to counter an alleged increase in homegrown domestic terrorism.

Gabbard released the documents in response to prompting from conservative groups like America First Legal, which expressed concerns about the Biden administration allegedly “censoring disfavored speech on the Internet by labeling such speech ‘misinformation,’ ‘disinformation,’ ‘hate speech,’ ‘domestic terrorism.’”

Coming in the wake of the Jan. 6 Capitol breach, after which the Biden administration claimed that domestic terrorism was the greatest terror threat the United States faced, the SIP represents the government-wide counterterrorism strategy.

Here’s what the declassified documents show.

Four-Pillared Plan

The plan in the declassified documents is based on four pillars:

1. “Understand and Share Domestic Terrorism-Related Information,”

2. “Prevent Domestic Terrorism Recruitment and Mobilization to Violence,” 

3. “Disrupt and Deter Domestic Terrorism Activity,” and 

4. “Confront Long-Term Contributors to Domestic Terrorism.”

The broad goals laid out by the plan included identifying and intervening with “potentially dangerous individuals,” “strengthen[ing] norms of non-violent political expression and rejection of racism and bigotry,” and increasing Americans’ “faith in democracy and the government.”

The plan called for dedicated research and analysis of domestic terrorism, including any potential links to international organizations or governments. 

To the same end, it called for increased information sharing within federal law enforcement related to domestic terrorism.

Additionally, this pillar proposed that the government “explore” ways to identify domestic terrorism through financial activity, including through greater involvement with financial institutions and scrutiny of citizens’ financial records.

It also called for the government to “Enhance [its] understanding of how foreign state and non-state information operations, particularly disinformation, relate to the domestic terrorism threat.”

That’s essentially federal government parlance for analyzing the impact of foreign actors online. 

The Biden administration and Democrats repeatedly claimed that Russian “trolls” were responsible for spreading disinformation and misinformation online.

Relatedly, the SIP reveals a plan to “implement evidence-based digital literacy programming to combat online disinformation and DT recruitment and narratives.”

The plan also calls for the FBI and Department of Homeland Security, among others, to “share with relevant technology and other private-industry companies, as appropriate and as expeditiously as possible and on a consistent basis, relevant information on [domestic terrorism]-related and associated transnational terrorist online content.”

It called for guardrails on information-sharing with technology companies, factoring in “legal, privacy, civil rights, and civil liberties review.”

Many conservatives have long been critical of alleged collusion between federal agencies and tech platforms, with many saying that the Biden administration sought to censor and deplatform conservative viewpoints in violation of the First Amendment.

Social Proposals

The final pillar of the plan, calling to “confront long-term contributors to domestic terrorism,” is laden with potentially controversial social proposals.

This section identifies “ghost guns”—unregistered weapons without a serial number, often created via 3D printer—as one such contributor, and calls to “[r]ein in the proliferation” of such weapons, “encourage state adoption of extreme risk protection orders, and drive other executive and legislative action including banning assault weapons and high-capacity magazines.”

It also called for “advancing inclusion” as part of the response to the COVID-19 pandemic to “mitigate xenophobia and bias.”

This would be in order to “address hate crime reporting barriers faced by disadvantaged communities by promoting law enforcement training and resources to prevent and address bias-motivated crimes,” according to the SIP.

Additionally, the plan encouraged “teaching and learning of civics education that provides students with the skill to fully participate in civic life,” and promoting “literacy education for both children and adult learners and existing proven interventions to foster resiliency to disinformation.”

*  *  *

[ZH: We decided to give the final word to Matt Margolis over at PJMedia (worth a read): who summarized this shitshow perfectly:

The founding fathers would be rolling in their graves…

Let’s cut through the bureaucratic noise and call this what it really is: a systematic blueprint for targeting and silencing conservative Americans. 

While Biden was preaching “unity” from his teleprompter, his administration was quietly crafting plans to turn Big Tech into their personal censorship machine.

Remember this  the next time you hear Democrats pontificating about “defending democracy.” 

They’ve shown us exactly what they mean by “democracy,” and it looks nothing like the Constitutional Republic our founders envisioned.

Well said, Matt.

“If you look at Epstein’s list, he’s not going after Congressmen… They already own Congress with AIPAC” ~Ryan Dawson

Last night, we hosted the ultimate panel for those wanting to learn more about government-pedo-blackmail operations… aka the craziest thing on Earth that media will not cover. It featured the legendary reporter and author Nick Bryant, relentless researcher Ryan Dawson, and was hosted by Ian Carroll one of the most effective communicators of this information at scale.

Below were the highlights for those who missed it though we strongly recommend listening to the full 2-hour discussion:

History of sex blackmail: Alexander Hamilton

“Sexual political blackmail has been around forever,” says Bryant, dating back to the days of the Founding Fathers. He tells the story of Alexander Hamilton’s affair with a married woman whose husband attempted to extort Hamilton. A muckraking journalist published the story while trying to curry favor with and secure a political appointment from Hamilton’s nemesis Thomas Jefferson. When Jefferson refused, the journalist outed him for having sex with his slaves.

“It goes all the way back…”

From there Dawson dives into modern era sex blackmail beginning with American mobster Micky Cohen, who Dawson says was the likely the first to use video tape.

pic.twitter.com/dQcSnclnBx

— ZeroHedge Debates (@zerohedgeDebate) April 18, 2025

Mossad or CIA? 

Many know the quote from former Labor Secretary Alex Acosta that Epstein “belonged to intelligence” but under which nation? Dawson laid out the case that Epstein was first and foremost an Israeli asset while Bryant tried to argue it was more likely a joint operation with the U.S.

Central to Dawson’s case is former Mossad agent Ari Ben-Menashe said Epstein worked for the agency: “Someone in Israeli intelligence said he worked for Israeli intelligence.”

Additionally, the father of Epstein’s girlfriend Ghislaine Maxwell, Robert, was a member of the pre-Israel zionist militia “Haganah”, helped secure arms shipments to the country during its founding, and upon passing off the coast of Spain, his body was was shipped to Israel to receive a highly sacred burial in the Mount of Olives in Jerusalem attended by heads and former heads of Israeli intelligence.

“If you look at Epstein’s list, he’s not going after Congressmen… there’s a couple… but mainly he was aiming at science and technology,” Dawson added. “They already own Congress with AIPAC. You don’t need to re-bribe people you completely control.”

Bryant pointed to Epstein’s Saudi Arabian passport while Carroll mentioned his ties to Saudi Arabian arms trafficker Adnan Kashoggi… though caveated that Kashoggi worked very closely with Israel as well.

pic.twitter.com/WvetoiR5P0

— ZeroHedge Debates (@zerohedgeDebate) April 18, 2025

Please visit EpsteinJustice.com to join Bryant’s movement to pressure Congress into investigating Jeffrey Epstein.

*******

Rewatch the entire discussion on your preferred platform below or listen on Spotify:

YOUTUBE:

RUMBLE:

X: 

https://t.co/w2BHkijKAR

— zerohedge (@zerohedge) April 17, 2025

Authored by Jeffrey Tucker via The Epoch Times,

Five years ago, we all had a more settled sense of how we were doing financially. Whether rich or poor or somewhere in between, the signals were relatively clear and so too our sense of place in the sociocultural pecking order. Whether we were advancing or standing in place, or falling behind, we could tell.

The cruel inflation of the last four years, alongside dramatic life disruption, has disturbed all of that in ways we are only now grasping. It’s long been said that inflation is an invisible tax. That is correct in the sense that we recognize something is happening but we are not sure entirely what.

It was all the more strange because for the previous 40 years, we had a settled feeling of what things cost, what was a good or bad deal, and whether something was expensive or not. We looked at our bank accounts and knew intuitively whether we were doing well or nearing a troubled point.

A quick example: my favorite butter (water buffalo) used to be $4 but is now $7, which I thought was outrageous until I looked online and found similar products running $30 to $50, priced as a luxury item. Immediately, my annoyance turned to gratitude and I stocked up. This is true with so many things today. Our antenna for discerning value is mostly broken.

When the inflation began, we were told it was transitory, which we gladly heard as temporary. Many people supposed that we would soon return to 2019 prices that we knew so well. This was the adjustment period. It did not help that for the better part of four years, most financial news reported that inflation was “cooling” and otherwise improving month-to-month.

In the end, however, terrible things have happened to the standard of living. Everything is far more expensive, which means that the practical power of our earnings to purchase the life we want is vastly diminished. We try to put a number on it. It could be 25 percent. It could be much higher. We can all think of particular items we once bought that have increased 100 and 200 percent.

You are likely thinking from the point of view of personal finance. Some people call it financial dysphoria, because we alternate between thinking we will be fine and waking up in the middle of the night with dark fears of bankruptcy. You just don’t know for sure what’s coming.

What you are feeling as an individual or household is precisely what businesses of all sizes face today. They look at their balance sheets and have to squint to believe what they are seeing. All costs are up, and not only for labor and materials. Insurance, rent, fees, health care, and utilities are also dramatically higher. Even if revenue seems fine, it is not entirely clear that it is.

Finally, after four years of confusion, people are starting to see the reality. Dysphoria is gradually becoming a new frugality, or really, a kind of panic reorganization of spending priorities. Cut back, eat at home, do it yourself, and get used to living less expensively. None of us are sure it will be enough to make ends meet, but it is finally occurring to people that times have changed dramatically.

The Wall Street Journal hit it out of the park with a piece on how young women are now giving up their manicures and pedicures plus exorbitant expenses on hair colorings. Having only anecdotal evidence, the journalist did a dive into Google searches for how to do all these things at home, and looked for evidence of tutorial traffic on video sites. They certainly found it.

This thesis fits very much with what I’m seeing too.

The point about cooking at home is an important one. Eating out is dangerous for personal finances, especially these days. For a very long time, many people got used to hanging out at local watering holes and ordering whatever they wanted. The way we pay these days permits the illusion that all is well to continue longer than it should.

We order, we eat, we drink, we are pampered and have a delightful time. Then the bill comes and we throw down a piece of plastic. We are a bit alarmed at the cost but swallow hard and go ahead and pay. After all, the damage is already done. You cannot uneat and undrink, so we pay. The habit goes on and on until you look back and see the percentage of your disposable income going toward this one activity.

It has taken years but Americans have finally recognized that this practice has to either end or be cut back. This is why so many restaurants are in trouble today. As if by a miracle, they survived the business closures and restrictions from 2020-2023. Barely emerging from that fiasco, they reopened ready to go. The customers came back.

Then the inflation started hitting not only the customers but the businesses too. We’ve lived through crazy times, alternating between thinking we are rich, we are poor, we are rich, we are somewhere in between, and no one knows for sure.

Accounting is a cruel taskmaster. 

It is a hard and impenetrable wall that blocks the highest dreams and the most inspired determination to overcome all obstacles. In the end, revenue must exceed expenses of all sorts else the business dies.

Accounting is the final check on the dreams of despots. It is the reality that no one can deny. Even if you deny it, it makes institutions obey it anyway. Accounting is why socialism never worked. By collectivizing capital ownership, it robbed society’s most productive resources of realistic price signals to determine profits and losses. 

The result was vast waste and economic irrationality. The result of socialist systems has always been collapse.

We ignore accounting at our peril. And yet this has always been the dream of governments, which is why they created central banks. These enable regimes and financial systems to print money without having to face the taskmaster of accounting. The cost of taking this path appears in other ways, including inflation, industrial distortions, and unsettled foreign accounts.

For anyone who has studied economics, the events of today are not a surprise. They are no less tragic, however. Aside from the very wealthy, most people in the United States today are facing extremely hard economic times as compared with just five years ago. That big bite out of purchasing power has been more devastating than we expected.

The saving grace of the current economic environment is that inflation has settled back and dramatically so. The latest data shows something remarkable: actual price declines in some industries and an overall real-time annualized rate of 1.4 percent—still too high but a very welcome relief.

Sadly, this comes at the same time as the realization that we are probably already in recession. Trump’s tariff wars are catching the blame but the truth is that the recessionary conditions long predate his moves on tariffs. Brownstone Institute commissioned an empirical study last year that documented a recession since 2022. No one has ever disputed the conclusions, and yet the financial press just went right on acting as if all is well.

All is not well, and that has become very obvious now. Taxes have gone up in light of inflation and I write even as millions of individuals and businesses are struggling to get theirs finished before the deadline. A pressing problem for many right now is wondering precisely what we are getting for what we are paying.

We’ve been through three months of hearing about unfathomable amounts of waste, fraud, and abuse in the federal budget. Aside from that there are the large problems of unsustainable debt, mandatory spending from entitlements, and a health care system that no one really likes. The whole system is crying out for reform.

And yet as we await that reform, we are still expected to cough up even as financial realities are making everyone newly aware of just how much worse off we are today than in the past. Despite all the gizmos and digital services we can consume, we have less disposable income in real terms than five years ago.

This is the reason for the financial dysphoria of our times. Despite all the ebullience about the political changes in Washington and much talk about a Golden Age, there is not too much time to make a dramatic difference in a way that matches hopes. Accounting is and always will be the hidden master of us all, one that cannot be wished away with political rhetoric or activist organizing.

Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

The Trump administration announced plans on Thursday to impose new port fees on Chinese commercial vessels—part of a broader effort to revive America’s dwindling shipbuilding industry, which officials now view as a national security risk amid the urgent need to bolster hemispheric defense across the Americas in an increasingly fractured, bipolar world.

“Ships and shipping are vital to American economic security and the free flow of commerce,” U.S. Trade Representative Jamieson Greer wrote in a statement, adding, “The Trump administration’s actions will begin to reverse Chinese dominance, address threats to the U.S. supply chain, and send a demand signal for U.S.-built ships.”

The Federal Register notice titled “Notice of Action and Proposed Action in Section 301 Investigation of China’s Targeting the Maritime, Logistics, and Shipbuilding Sectors for Dominance, Request for Comments,” published Thursday by the U.S. Trade Representative (USTR), states that new fees will be imposed on all Chinese-built and Chinese-owned ships docking at ports across America. These fees will be based on net tonnage or the volume of goods carried per voyage and will only be charged once per voyage and not per port arrival.

“The fee will be set at $0 for the first 180 days, will then be set at $50/NT, and will increase incrementally over the next three years,” the USTR notice read. 

Service Fee on Chinese Vessel Operators and Vessel Owners of China (courtesy of CNBC):

• Effective as of April 17, 2025, a fee in the amount of $0 per net ton for the arriving vessel.

• Effective as of October 14, 2025, a fee in the amount of $50 per net ton for the arriving vessel.

• Effective as of April 17, 2026, a fee in the amount of $80 per net ton for the arriving vessel.

• Effective as of April 17, 2027, a fee in the amount of $110 per net ton for the arriving vessel.

• Effective as of April 17, 2028, a fee in the amount of $140 per net ton for the arriving vessel.

The USTR notice explained that “any such fee would be charged per rotation or string of U.S. port calls, and no more than five times a year on an individual vessel.” 

Service fees for vessel operators of Chinese-built vessels are lower.

• Effective as of April 17, 2025, a fee in the amount of $0 for each container discharged.

• Effective as of October 14, 2025, a fee in the amount of $18 per net ton ($120 per container)

• Effective as of April 17, 2026, a fee in the amount of $23 per net ton ($153 per container)

• Effective as of April 17, 2027, a fee in the amount of $28 per net ton ($195 per container)

• Effective as of April 17, 2028, a fee in the amount of $33 per net ton ($250 per container).

The second phase will begin in three years and target Chinese LNG vessels. USTR explained the purpose of this action:

“To incentivize U.S.-built liquified natural gas (LNG) vessels, limited restrictions on transporting LNG via foreign vessels. These restrictions will increase incrementally over 22 years.”

New taxes on Chinese commercial ships add to the complexity of a broadening trade war between the two economic superpowers. Trump recently slapped all Chinese goods entering the U.S. with a 145% effective tariff rate, while Beijing has slapped all U.S. goods entering China with a 125% levy.

The USTR notice continued, “A few comments agreed with the proposals, noting that the proposed fees would address trade imbalances, enhance national security, support investment in the American maritime industrial base, and promote higher environmental and labor standards. One commenter suggested that the proposed fees be captured in a U.S. shipbuilding and mariner compensation trust fund to be expended each year for reviving the U.S. merchant marine.”

Time to make America’s shipbuilding industry Great Again. 

The New York Times confirmed Thursday that the Pentagon has begun withdrawing hundreds of troops from Syria but will leave over 1,000 in the country for the time being, following prior reports from earlier in the week

This means the occupation will be significantly reduced, but will still be fundamentally in place, in the vicinity of Syria’s only oil and gas production sites which historically met the population’s domestic needs. “The United States has started drawing down hundreds of troops from northeastern Syria, a reflection of the shifting security environment in the country since the fall of President Bashar al-Assad in December, but also a move that carries risks,” says the NY Times.

Massive U.S. Army convoys withdraw from Syria, heading toward Iraq.

The first phase of the U.S. withdrawal from Syria saw around 600 troops pulled out, bringing total troop numbers down to about 1,400.

Three U.S. bases in northeastern Syria were closed, including one near the… pic.twitter.com/I4GJ6NUHhO

— Clash Report (@clashreport) April 18, 2025

US officials told the Times that three of eight American bases will bring shut down, and that troop levels will be brought down to 1,400 from around 2,000. The Pentagon had for years misled the public on the true numbers of troops there.

The next phase is planned for 60 days out – that’s when US military commanders and Trump admin officials will newly assess the situation and possibly order another draw down.

The bases which are being shuttered have been identified as the Mission Support Site Green Village, the MSS Euphrates and a third much smaller facility, according to the Times report. Congress has never voted on sending troops to Syria, or the enduring occupation.

New video footage has confirmed the fresh draw down from northern Syria…

Syria analyst Charles Lister: “This video from today shows a huge U.S. military disengagement from Deir ez Zour is underway — with bases at Conoco, Green Village/Omar being withdrawn to the northeast.”

Note my tweet from 2 days ago.

This video from today shows a huge U.S. military disengagement from Deir ez Zour is underway — with bases at Conoco, Green Village/Omar being withdrawn to the northeast. https://t.co/JBUp5aDVrt pic.twitter.com/D6RcH9rHkG

— Charles Lister (@Charles_Lister) April 17, 2025

President Trump during his first administration wanted to see US forces pulled out of Syria, and the situation has drastically changed since then, with the ouster of Assad on December 8 and the Kurdish-Damascus deal for integration. Washington was a prime driver in covert operations pushing for regime change, which began all the way back in 2011 and 2012.

We reported earlier that the US-backed Kurdish-led SDF in eastern and northern Syria recently began handing over control of some areas in the northern Aleppo province to government forces led al-Qaeda offshoot Hayat Tahrir al-Sham, under an integration agreement with Damascus.

Via BitcoinMagazine.com,

In yet another milestone for Bitcoin adoption in Latin America, the Panama City Council has voted to approve the acceptance of Bitcoin and other digital currencies for municipal services, making it the first public institution in the country to do so.

The news was announced by Panama City Mayor Mayer Mizrachi on X (formerly Twitter), who stated:

“Panama City council has just voted in favor of becoming the first public institution of government to accept payments in Crypto. Citizens will now be able to pay taxes, fees, tickets and permits entirely in crypto starting with BTC, ETH, USDC, USDT.”

This decision sets Panama City on a more progressive path, enabling residents to interact with their local government using Bitcoin for everyday transactions. Mizrachi also explained how this was achieved without the need for new legislation, a hurdle that had stalled previous efforts.

“Prior administrations tried to push a bill in the senate to make this possible, but we found a simple way to do it without new legislation. Legally, public institutions must receive funds in $, so we partner with a bank who will take care of the transaction—receiving in crypto and convert on spot to $. This allows for the free flow of crypto in the entire economy and entire government.”

The Panama City Mayor’s Office further confirmed the news on its official social media channels, saying:

“We will soon become the first public institution in the country to allow payment for municipal services in cryptocurrency, through an authorized bank that will be responsible for converting the proceeds into dollars for the Mayor’s Office.”

Mayor Mizrachi also revealed that the agreement with the banking partner will be finalized next week:

“Deal’s being signed next week at the Blockchain conf in Panama. Look out for signing of the deal next week.”

Muy pronto nos convertiremos en la primera institución pública del país en permitir el pago de servicios municipales en criptomonedas, a través de un banco autorizado que se encargará de transformar los ingresos en dólares para la Alcaldía.✨ pic.twitter.com/wccxO1agfR

— Alcaldía de Panamá (@Panamaalcaldia) April 15, 2025

The U.S. Department of Justice submitted a formal notice to the U.S. Bankruptcy Court for the Eastern District of Missouri, which is overseeing the Chapter 11 case of defunct 23andMe Holding Co. (Case No. 25-40976), warning that the potential sale of its assets—including a gigantic pool of millions of Americans’ genetic data—may trigger a national security review by the Committee on Foreign Investment in the United States (CFIUS).

U.S. Attorney Sayler Fleming wrote in a filing that 23andMe is prohibited from selling the genetic data of more than 15 million customers to “covered persons“—companies classified as foreign entities that are 50% or more owned by entities based in countries such as China, Russia, and North Korea.

Fleming’s notice does not ask U.S. Bankruptcy Judge Brian Walsh to take action against any potential 23andMe transactions. Instead, the U.S. government is requesting that CFIUS review any sale of genetic data to ensure foreign adversaries are not using shell companies to acquire it.

Safeguarding the gigantic pool of genetic data of Americans is a national security priority because of the increasing risk that precision bioweapons can be designed to target specific genetic traits or ethnic groups, based on shared DNA markers.

For example, if a hostile actor or rogue group linked to Iran or the Chinese Communist Party accessed genomic data, they could develop pathogens that are more virulent or lethal to those with certain genetic traits. 

Last month, James O’Keefe of O’Keefe Media Group stoked maximum fears after releasing a video featuring an undercover journalist speaking with Nathaniel Johnson, a policy advisor at the U.S. Department of the Treasury.

In the footage, Johnson suggested that 23andMe may have already sold off users’ genetic data: “Do not give your information to those people [23andMe]… they sell it to other people.”

Johnson explained: “There’s a clause in their contract, that basically says, like, we can give your information to our shareholders. So that they can do stuff. And all of their shareholders are, like pharmaceutical companies. But some of those pharmaceutical companies are based in other countries, and those pharmaceutical companies in other countries are like the property of, like the Ministry of Defense of Russia. Or, like, owned, by China.”

We have a U.S. Treasury Policy Advisor on tape telling us 23andMe has been sharing consumer data with “pharmaceutical companies,” including the “Ministry of Defense of Russia.”

Seems like they’ve got bigger issues than financial instability. https://t.co/WEHfnilncw pic.twitter.com/ROGQWCqvgW

— James O’Keefe (@JamesOKeefeIII) March 24, 2025

The risks of genetic data being weaponized for biological warfare should be on the minds of the Trump administration as the great power competition with China goes into hyperdrive by the 2030s.

*   *   * 

Read the filing here:

Authored by Ronnie Stoferle via VonGreyerz.gold,

It was a tremor that shook the financial markets in the trading days following Liberation Day, when tariffs were imposed on almost every country in the world. One of the big winners was gold. After a brief setback below USD 3,000, the USD 3,200 mark was broken on April 11, the USD 3,300 mark on April 16, marking new all-time highs. However, the significant depreciation of the US dollar – the US dollar index fell by around 4% within a few days, by more than 4% against the euro and by around 8% against the Swiss franc – meant that the gold price in euro rose only slightly and fell by more than 4% in Swiss francs. By way of comparison, the S&P 500 dropped by more than 7%.

One reason for gold’s strength is its portfolio property as a hedge against (economic) political uncertainties of any kind, whether due to armed conflicts, political crises or trade conflicts. The positive correlation between the gold price in US dollars and the World Uncertainty Index is evident.

Another reason is the express wish of Donald Trump and his administration to significantly weaken the US dollar. The prevailing view in the US administration is that a strong US dollar is detrimental to the US economy. However, the former Deutschmark bloc around Germany and Switzerland, the latter still today, show that this argument does not stand up to reality. Regardless of this, the US dollar should be significantly devalued and, in conjunction with the tariffs, force the reindustrialization of the US – in line with the America First policy.

In addition, a possible Mar-a-Lago Accord is making the rounds, in reference to the two major currency agreements in the 1980s, the Plaza Accord (1985) and the Louvre Accord (1987). Both agreements led to a devaluation of the US dollar. The US current account improved at the time, but remained clearly in the red. A significant reduction was only achieved after the Louvre Accord, and in 1991, a slight surplus was even achieved on one occasion. After that, the US current account balance turned clearly negative again. The aim of the Louvre Accord was, however, to stop the depreciation of the US dollar and keep the exchange rates of the leading industrialized nations within a target corridor. The exact structure of the target corridors was agreed upon in an additional protocol that was never published.

The “improvement” in the current account balance desired by the Trump administration, i.e. the reduction of the current account deficit, would inevitably lead to lower capital flows into the US. Demand for US financial securities, both equities and bonds, would fall, and prices would fall with it.

The US discovers its gold treasure

In the course of discussions about the domestic and foreign policy, economic and trade policy reorganization desired by Trump and his administration, the idea has been floated that the US could raise its considerable gold reserves. Currently, the gold reserves held by the US Treasury are shown on the Federal Reserve’s balance sheet as a gold certificate at a value of just USD 42.22 per ounce. This was the value of an ounce of gold in 1973 after the last official devaluation of the US dollar against gold. With a revaluation to the current gold price of around USD 3,000, the US could raise around USD 800 billion in a one-off transaction, as Switzerland did in 2000, when the Swiss National Bank (SNB) realized a revaluation gain of CHF 28bn as part of a revaluation of its gold holdings, which was distributed to the cantons and used for tax cuts, some of which were substantial. However, Finance Minister Scott Bessent has already taken the wind out of the sails of these rumors.

Notwithstanding the rejection, the role of gold as a reputable and valuable asset is becoming increasingly important. Gold is gradually moving away from its previous underdog role, especially because long-serving safe anchors such as government bonds, in particular, US Treasuries and German Bunds, in particular, are coming under increasing pressure, largely through their own fault.

Judy Shelton’s proposal of gold-backed government bonds

Another possible use for the US gold treasure comes from Judy Shelton. Many years ago, Judy Shelton, who is seen as a possible successor to Jerome Powell, whose term ends in 2026, presented her plan for a gold-backed government bond. The plan is simple and includes two main components: gold convertibility and the revaluation of the US’s current gold reserves mentioned above. Selected US Treasury emissions with a 50-year term, for example, would include an option for the bondholder to redeem the bond for a predetermined amount of gold per USD 1,000 face value in gold.

Regardless of whether this plan is implemented or not. It is further proof that gold is seen as a serious asset for solving serious economic problems.

Germany says goodbye to fiscal virtue

With his abdication as the self-proclaimed “King of debt”, Donald Trump first surprised us with his words and then, with the appointment of DOGE under Elon Musk, with his actions. In view of the current deficit figures, it seems difficult to imagine whether the goal of reducing Washington’s deficit to 3% by 2028, as set out in the “3-3-3 plan” by the current US Treasury Secretary Scott Bessent, is realistic. In the first half of the new fiscal year (10/2024-03/2025), the US budget was once again in deep red territory. The deficit amounted to USD 1.3 trillion and was therefore more than 20% higher than in the previous year, particularly because spending increased by almost 10%.

Apart from the two COVID-19 years, 2020 and 2021, the US could have a budget deficit of more than USD 2 trillion for the first time. USD for the first time. With a projected deficit of USD 1.9 trillion or 6.2% of GDP for the fiscal year ending in September, the CBO’s current forecast is only slightly below this negative threshold. By way of comparison, it has been in the red by a considerable 3.8% on average over the last 50 years. The alarming financial situation of the US federal budget is illustrated by the fact that in February, at USD 306bn, the deficit was higher than Washington’s revenues of USD 296bn. In other words, 51% of all spending in February was debt-financed.

Germany abandons fiscal virtue

Equally surprising, albeit in the opposite direction, was the U-turn by Friedrich Merz, winner of the Bundestag elections and now Germany’s next Chancellor designate. With a double whammy, Germany departed from the path of fiscal virtue. A new special fund, which would be better described as special debt, amounting to EUR 500bn, of which EUR 100bn is earmarked for mandatory climate protection measures, and the easing of the debt brake for higher defense levies, has increased Germany’s national debt by around a third in one fell swoop.

The consequences of this historic breach of a campaign promise? The yields on German government bonds shot up. At its peak, the yield on the 10-year German government bond rose by more than 40 basis points, or 0.40 percentage points, to as much as 2.93%. At its peak, this was an increase of almost 20 percent. This was the strongest rise in German government bonds in more than 30 years. As a benchmark bond, it also pushed up the yields of other countries, most of which are significantly more indebted. For France and Italy, the German turnaround will further exacerbate the already tense debt situation.

The obvious question is whether Merz is not jeopardizing the status of the German government bond as a safe anchor of the fiat financial system with this U-turn. In any case, gold offers an alternative that has been tried and tested for centuries to close the resulting gap.

Conclusion

With Donald Trump’s inauguration, uncertainty in international politics, geopolitical dynamics and the financial markets has increased significantly. It remains to be seen how long this phase will last, especially with the new factor of the US’s erratic tariff policy. What is certain is that gold is benefiting from the increased uncertainty. It is also certain that gold’s role as a neutral asset without counterparty risk has been strengthened. What is new is that gold is also increasingly being rediscovered as an economic policy instrument. Gold should also become even more attractive for investors due to the volatility and weakness of the equity and bond markets.

Did you know that over one in five U.S. companies fail in their first year? 

Despite this brutal statistic, a rare few have stood the test of time, not just for decades, but for centuries.

In this infographic, Visual Capitalist’s Marcus Lu takes a look at America’s oldest companies founded in the 1700s. For context, this timeline also includes a selection of younger companies that are widely known.

Data & Discussion

The featured companies are listed in the table below.

All of these businesses have survived economic upheavals, wars, and technological revolutions, making their longevity even more impressive.

Let’s take a closer look at some of their histories.

Jim Beam: A Legacy in American Whiskey

Founded in 1795 by Jacob Beam in Kentucky, Jim Beam is one of America’s oldest and most iconic whiskey distilleries.

Initially named Old Jake Beam Sour Mash, the brand survived Prohibition by temporarily ceasing production and then swiftly restarted in 1933—just 120 days after repeal.

In 2014, the company was acquired by Japanese distiller, Suntory, for $16 billion, leading to the formation of Beam Suntory.

Dixon Ticonderoga: The Pencil that Wrote History

Established in 1795, Dixon Ticonderoga began as a humble graphite pencil company, originally named after Fort Ticonderoga in New York.

Contrary to popular belief, the company did not invent the iconic No. 2 yellow pencil, but it popularized it in the early 20th century through widespread adoption in schools nationwide.

JPMorgan Chase: Banking Across Centuries

JPMorgan Chase, founded in 1799 as The Bank of the Manhattan Company by Aaron Burr, is among the oldest financial institutions still operating in the U.S.

The current company was created in 2000 by the merger of J.P. Morgan & Co. and Chase Manhattan Company. As of Q4 2024, it is America’s largest bank with $4 trillion in assets.

If you enjoyed today’s post, check out this graphic ranking companies with the most merger and acquisition deals since 2008.

For decades, Americans could expect to live about as long as their peers in other wealthy countries… but today, that story is changing.

Based on a 2025 analysis by Peterson-KFF, American life expectancy is now lagging significantly behind comparable nations, with the gap growing wider than ever before.

From chronic diseases to healthcare disparities, multiple factors are contributing to Americans dying younger. In this infographic, Visual Capitalist’s Marcus Lu takes a look at how the U.S. stacks up—and how quickly it’s falling behind.

Data and Discussion

The data we used to create this graphic is included in the table below.

The comparable country group is based on averages across 11 nations: Australia, Austria, Belgium, Canada, France, Germany, Japan, Netherlands, Sweden, Switzerland, and the UK.

Higher Spending, Lower Life Expectancy

According to Peterson-KFF, the U.S. has the lowest life expectancy among large, wealthy countries despite outspending its peers on healthcare.

In 2023, health spending per capita in the U.S. climbed to $13,432, versus $7,393 for the same 11 nation peer group.

This disconnect suggests inefficiencies, unequal access, and other systemic problems in the U.S. healthcare system are preventing resources from translating into longer, healthier lives.

Chronic Diseases Drag American Life Expectancy Down

A key factor behind the stagnation of life expectancy in the U.S. is the rising prevalence of chronic diseases.

This includes kidney disease, which in 2021 claimed 41 lives per 100,000 in the U.S., versus just 28 per 100,000 for the comparable country group.

If you’re enjoying our content, check out this graphic showing global obesity projections by 2050 on Voronoi, the new app from Visual Capitalist.