INTRO:

• The Secretary of Homeland Security gets grilled on the wide-open U.S. southern border with Mexico, and the revelations are jaw-dropping.
• President Trump’s political fortunes could get a boost from the criminal indictment against him as Trump derangement syndrome backfires on the Democrats, but Trump’s business fortunes also stand to get a boost.
• China and Brazil have reached a deal to trade in their own currencies, landing another blow to the U.S. petrodollar and its status as the world’s reserve currency.
• The U.S. money supply is falling at its fastest clip since the 1930s Great Depression.
• One of Australia’s biggest banks makes a move toward a totally cashless society.
• And millions of Americans stopped working from home in 2022.

All these stories and more when the Worldview Financial Report begins, right now!

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Senator Josh Hawley questioned Homeland Security Secretary Alejandro Mayorkas during a Senate hearing on the U.S. southern border last week and this revealed just how Orwellian the Biden administration really is in its language and characterization of what’s happening there at the border.

With up to 1,000 migrants a day pouring over the border and Donald Trump applying the heat as the 2024 election cycle starts to ramp up, the Biden administration has to do something about the optics of a wide open porous border.

But instead of tightening things up, even temporarily, the Biden regime has a new scam it is running to make the border look more orderly and less porous when in reality the same number if not more illegals are entering every day.

It’s called the CBP1 phone app, where instead of crashing the border unannounced, you actually schedule your illegal arrival through the app on your phone.

Take a look at Senator Hawley here drilling down on this situation and how Mayorkas tries to weasel his way out of answering the questions.

WATCH VIDEO (clip first 3:53)

https://www.youtube.com/watch?v=9H8QwrxscGs

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The New York Post reports that former President Donald Trump and his social media platform could reap a $100 million windfall as a result of his historic, precedent-setting criminal indictment by the Manhattan District Attorney’s Office.

Shares of the special purpose acquisition company that was created to take Trump’s media company public soared by as much as 10% in pre-market trading on Friday — less than 24 hours after news of the indictment broke.

The stock price of Digital World Acquisition Corp., which closed at $13.06 on Thursday, was trading as high as $14.44 during Friday’s session on Wall Street.

When DWAC and Trump Media and Technology Group eventually merge, the former president is in position to hold 73.3 million shares, according to Securities and Exchange Commission filings cited by Forbes.

At $13.06 a share, Trump’s stake is believed to be worth an estimated $957 million.

With the stock price ticking up to $14.44 a share during midday trading on Friday, the value of Trump’s stake jumped to $1.058 billion — a gain of more than $100 million.

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Fox News host Tucker Carlson blasted Ukrainian President Zelenskyy for recently bragging about having the “attention” and “cooperation” of global financial interests even as the U.S. banking industry struggles to remain solvent.

Carlson questioned why corporate media has failed to be critical of financial institutions, even as the U.S. banking system is under its greatest strain since the financial crisis of 2008.

He said mega-banks and financial institutions are openly profiteering from a war in Eastern Europe that’s killing hundreds of thousands of people, adding: 

“And we know that because Zelenskyy, the president of Ukraine, and a very close friend of banks and BlackRock, is bragging about it.”

The Fox News host then played a clip of Zelenskyy boasting about his relationship with institutions like BlackRock, JP Morgan, and Goldman Sachs.

Take a look.

WATCH VIDEO

https://twitter.com/VigilantFox/status/1635799842285932544?s=20

Even as Zelenskyy boasts openly about support from U.S. financial giants, the Biden administration is attempting to reassure Americans to trust the industry.

“Americans can rest assured that our banking system is safe. Your deposits are safe,” Biden said during a 7-minute set of remarks in the Roosevelt room. “Let me also assure you we will not stop at this. We will do whatever is needed on top of all this.”

WATCH VIDEO

https://twitter.com/disclosetv/status/1635265824230641665?s=20

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Hardly a week or even a day goes by without some news that another country is making plans to ditch the dollar as the method of payment for international traded goods. This has all happened since February 2022, when the U.S. currency was weaponized against Russia as payback for its invasion of Ukraine. And this week was no exception.

According to the Brazilian government, China and Brazil have reached a deal to trade in their own currencies, dropping the American dollar as an intermediary entirely.

Zero Hedge reports that the deal, “Beijing’s latest salvo against the almighty greenback, will enable China, the top rival to U.S. economic hegemony, and Brazil, the biggest economy in Latin America, to conduct their massive trade which amounts to $150 billion per year, and financial transactions directly, exchanging yuan for reais and vice versa instead of going through the U.S. dollar.”

In doing so, China extends its bilateral, US dollar-exempting currency arrangements beyond countries such as Russia, Pakistan and Saudi Arabia to now include the Latin American exporting powerhouse.

The Brazilian Trade and Investment Promotion Agency said in a statement:

“The expectation is that this will reduce costs... promote even greater bilateral trade and facilitate investment.”

China is Brazil’s largest trading partner, with a record $150.5 billion in bilateral trade last year.

The deal was announced after a high-level China-Brazil business forum in Beijing.

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Millions of Americans stopped working from home in 2022, according to a Labor Department report released on March 22.

The agency said that 72.5 percent of business establishments reported little to no telework among employees between August and September 2022, a 12.4 percent increase from 2021.

Before the pandemic upended the workplace, 76.7 percent of companies reported little to no remote work among their employees.

The percentage of employers reporting that all of their employees were teleworking did not see significant change in 2022, at about 11 percent compared to about 10 percent in 2021.

The percentage of establishments reporting that some of their employees were working from home dropped in 2022. About 16 percent reported that they had some employees working from home, compared to about 30 percent in 2021.

Remote work isn’t completely ending, as companies in university towns, tech hubs, and government centers, according to Bloomberg, have continued to offer remote positions in 2023.

In a survey conducted by the employment website ZipRecruiter, job seekers, on average, said they would take a 14 percent pay cut in order to work remotely.

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U.S. money supply is falling at its fastest rate since the 1930s, a red flag for the economy and financial markets, reports Reuters.

The money supply has been shrinking since December, “an unprecedented development in modern times that should make investors sit up and take notice - growth, asset prices and inflation could all weaken,” Reuters reports.

This ominous trendline is largely a consequence of the reversal of the liquidity generated by massive post-pandemic fiscal and monetary stimulus, the Federal Reserve shrinking its balance sheet via quantitative tightening, falling bank deposits, and weak demand for and provision of credit, Reuters reports.

All else being equal, the report asserts that the falling money supply should be viewed as a sign that the Fed has no need to raise interest rates further. Given the lag time of up to two years between money supply changes and the impact on asset prices and inflation, it may even be a sign that the U.S. central bank should be cutting rates.

Fed data on Tuesday showed that M2 money supply, a benchmark measure of how much cash is circulating in the U.S. economy, fell a non-seasonally adjusted 2.2% to $21.099 trillion in February from the same period a year earlier.

In seasonally-adjusted terms, M2 money supply fell 2.4% from the same month last year to $21.063 trillion.

That was before the March failures of Silicon Valley Bank and Signature Bank - both in the top 25 banks in the country - which fanned fears of a credit crunch, stoked market volatility, and prompted temporary emergency liquidity measures and backstops from the Fed worth hundreds of billions of dollars.

Matt King at Citi in London, an expert on capital flows and liquidity, told Reuters that if money supply growth can reasonably be seen to expand liquidity and fuel inflationary pressures, then the opposite should be true, adding:

“M2 is a driver of broader asset price inflation, consumer inflation, equities, and real estate. It is sending quite a negative signal for all of those now, and will likely feed through to broader economic weakness.”

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Confirming this trend is another report by Bank of America Corp., which warned that the global currency market is vulnerable to a liquidity crunch later this year as financial conditions tighten and economic growth slows. 

Even after the market emerged relatively unscathed from the latest banking turmoil, implied volatility in major currency pairs jumped this month as concerns about the U.S. banking sector weighed on the dollar and drove the Japanese yen higher. Still, the move was “far from crisis levels,” strategists at Bank of America said. Volatility remained lower compared with late last year, when a surge in demand for the U.S. currency drove euro-dollar one-month implied volatility to the highest levels since early 2020. 

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Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury Monica Crowley has warned of “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. 

She said, “That would mean the end of the U.S. dollar,” and she predicts that “there would be a complete implosion of the global economic system.”

Crowley explained on Fox News Saturday what would happen if emerging economies move away from the U.S. dollar towards the Chinese yuan and the US dollar is no longer the world’s dominant currency. 

Emphasizing that the U.S. dollar having the world’s reserve currency status “has been a real privilege,” she expressed: “We’ve abused the privilege by wholly reckless monetary and fiscal policy for so many years, certainly over the last couple of years, which has really devalued the dollar.”

Crowley continued: “On top of that, now you do have this perfect storm of Biden’s weakness, his war on American domestic energy production, the Ukraine war … Because of all of these things, we’ve got America’s enemies, led by China, forming a new economic bloc.”

Crowley added that since we are at a pivotal moment, “all it would take at this point … is for Saudi Arabia, who has indicated that they are open to this, to say: ‘You know what, we’re going to be open to considering other currencies to trade in oil.’” 

Crowley warned that if that were to happen, there would be a complete implosion of the U.S. and global economic system. And if that were to happen, she said, “you’d be looking at sky-high inflation just raging, Weimar Republic kind of inflation. If you think inflation is bad right now, just wait. But more importantly, we would lose our economic dominance and we would lose our superpower status.”

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Wired Magazine reports that an open letter signed by hundreds of prominent artificial intelligence experts, tech entrepreneurs, and scientists calls for a pause on the development and testing of AI technologies more powerful than OpenAI’s language model GPT-4 so that the risks it may pose can be properly studied.

The letter warns that AI-driven language models like GPT-4 can already compete with humans at a growing range of tasks and could be used to automate jobs and spread misinformation. The letter also raises the distant prospect of AI systems that could replace humans and remake civilization. 

The letter states:

“We call on all AI labs to immediately pause for at least 6 months the training of AI systems more powerful than GPT-4 (including the currently-being-trained GPT-5).”

The signatories include Yoshua Bengio, a professor at the University of Montreal considered a pioneer of modern AI, Israeli historian and transhumanist Yuval Noah Harari, Skype cofounder Jaan Tallinn, and Twitter CEO Elon Musk.

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The New York Post reports that top executives at CBS News have banned reporters and editors from using the word “transgender” when reporting on the Nashville shooter — despite the fact that police have said Audrey Hale was exactly that and cited it as a key point in the case.

The network’s executives insisted in a Tuesday memo obtained by The Post that:

“The shooter’s gender identity has not been confirmed by CBS News. As such, we should avoid any mention of it as it has no known relevance to the crime. Should that change, we can and will revisit.”

The CBS News directive was delivered on a Tuesday morning editorial call by Ingrid Ciprian-Matthews, the executive vice president of newsgathering, and Claudia Milne, the senior vice president of standards and practices, sources close to the Tiffany Network told the Post.

The Tuesday memo stated:

“Right now we advise saying: POLICE IDENTIFIED THE SUSPECT AS 28-YEAR-OLD AUDREY HALE, WHO THEY SHOT AND KILLED AT THE SCENE. And move on to focus on other important points of the investigation, community and solutions.”

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In other news, we now have data showing major bank runs took place in the first two weeks of March.

Americans withdrew around $120 billion, anticipating their smaller banks would crash similarly to Silicon Valley Bank, which started the contagion and domino effect of other banks to collapse or face heavy volatility.

The Street reported that “The panic surrounding banks in the markets is also accompanied by outflows from smaller banks. According to new data from the Federal Reserve, Americans withdrew $120 billion in deposits from small banks during the week ending March 15.”

Deposits with smaller banks totaled nearly $5.456 trillion, compared to nearly $5.576 trillion in the week ended March 8. It should be noted that deposits have not stopped decreasing since the beginning of the year, but this is the first time that withdrawals have been so high. 

The big banks appear to be the big winners of this banking crisis, since they have recorded inflows. Deposits with major banks totaled $10.74 trillion in the week ended March 15, up $67.4 billion. The previous week, before the collapse of SVB, deposits had fallen by $76 billion with major banks.

In total, Americans withdrew $98 billion from banks in the week ending March 15.

Despite these outflows, regulators insisted on reassuring that the American financial system remained sound. U.S. Secretary of the Treasury Janet L. Yellen convened a meeting of the Financial Stability Oversight Council in executive session by videoconference on March 24.

A statement from the meeting published by the Treasury Department read:

“The Council discussed current conditions in the banking sector and noted that while some institutions have come under stress, the U.S. banking system remains sound and resilient.”

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ANZ Bank, one of the largest banks in Australia, has decided to no longer allow tellers at some locations to give cash withdrawals, in a bid to slowly adjust to a cashless society.

Since January 2020, ANZ had already begun to shutter many of their locations – 146 of them, according to Mirage News, with 15 closing in different states in April of 2021. Because of the various Covid-19 restrictions and lockdown measures in place, ANZ took the opportunity to further expand their digital presence and reduce their in-person locations.

Finance Sector Union (FSU) National Secretary Julia Angrisano, said at the time:

“Bank staff have been pressured by the use of ‘targets’ to move customers online and in each of the banks, limits have been imposed on the number of over-the-counter transactions. Shutting branches in regional areas does not reflect the true needs of bank customers.”

She added that:

“They need to be able to transact the full range of banking and financial services in branches close to where they live. We don’t believe the community is ready for the changes to banking that are being pushed by the likes of the ANZ. And we know the community is not ready for managing their finances online because one third of bank customers either don’t have a computer, do not have sufficient skills or are not interested in taking up online banking.”

But now in Spring 2023, ANZ is taking things to the next step with some tellers unable to provide physical cash withdrawals at a “small number” of branches across the country, according to Daily Mail Australia.

And according a broadcaster from 7 News Australia, this represents “another step towards a cashless society.”

That does it for this edition of the Worldview Financial Report. Thanks for tuning in and for supporting this viewer-supported broadcast. 

Until next time, I’m Brannon Howse. May God save America. Take care.

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