- The global banking sector is teetering on the edge of catastrophe as governments rush to stem the bleeding, but fails to reassure many depositors.
- At least 20 state legislatures are considering bills that would redefine money and pave the way for a new Central Bank Digital Currency.
- The U.S. Federal Reserve announces a new electronic payment service called FedNow that will compete with PayPal, Venmo and other instant payment plans.
- Humanoid robots are being prepared to take most blue-collar jobs within 10 years.
- And we have a list of the top ten most affordable cities in America.
All these stories and more when the Worldview Financial Report begins, right now!
Good evening and welcome to the Worldview Financial Report.
A third U.S. bank, First Republic, has failed and will receive a $30 billion bailout, setting off fears of a further domino effect of bank failures.
Credit Suisse, the second largest bank in Switzerland, is also in trouble and was forced to borrow up to 50 billion Swiss francs, the equivalent of $54 billion, from the Swiss National Bank.
But even that did not stop depositors from withdrawing money from Credit Suisse.
According to Zero Hedge, “... despite this week's rescue, the bank run is once again picking up, setting up the bank for another bailout because unless the Swiss National Bank and the Swiss government want a historic bank implosion on their hands, they now have no choice but to keep throwing good money after bad.”
First Republic’s shares plunged 20 percent on the news as investor worries were not exactly calmed by the $30 billion rescue package.
Take a look at this report.
WATCH VIDEO (clip first 1:07)
It was also reported that U.S. banks borrowed a combined $165 billion from two Federal Reserve backstop facilities in the most recent week ending March 15. This is a 2000 percent increase from the previous week and a sure sign of escalated strains on liquidity in the aftermath of Silicon Valley Bank’s massive failure.
And here is Treasury Secretary Janet Yellen responding to questions from Senator Lankford of Oklahoma last Thursday, not exactly reassuring depositors in smaller regional and community banks.
Lankford asked Yellen the question that was on every American depositor’s mind following the bailout of the three big banks the previous week.
Take a look at her stunning admission that the government is indeed exercising favoritism toward the big banks.
Unbelievable admissions there from the top U.S. official regarding monetary policy. The government will let your bank fail if it’s not one of the dozen or so largest banks in the nation.
A bill that would legally redefine currency, paving the way for a new globalized central bank digital currency or CBDC, is quietly being pushed through the state legislature in Tennessee and is very close to hitting Governor Lee’s desk to be signed into law.
The exact same legislation has been introduced in at least 20 states. It passed the legislature in South Dakota recently but Governor Kristy Noem vetoed it.
In Tennessee, SB 0268 is being sponsored by Senator Jack Johnson, a Republican of Williamson County. If passed, it would enact the “Money Transmission Modernization Act.”
The bill appears geared toward rooting out any private digital currencies like Bitcoin, making it so only legally sanctioned currencies could be exchanged in the state of Tennessee.
Critics of the bill say it is also setting the stage for a global digital currency.
According to Tennessee Conservative News, “Senator Johnson’s bill appears to be setting up the ability of a foreign governmental entity to have opportunity to produce, house, and exchange a currency that is not currently recognized by banks that are owned and operated here in Tennessee. A new Global Currency.
“There are world currencies, for example, the Euro, that can be exchanged and used here in the United States because Euros are recognized as a legitimate foreign monetary unit. Euros have a defined exchange rate, can be traded for U.S. dollars, and can then be traded for goods and services or invested.
“The legislation is reportedly patterned after model legislation that was created by the Conference of State Bank Supervisors, a government organization that regulates banks and develops policies. The model legislation they proposed back in 2021 is now being realized here in Tennessee.”
Meanwhile, the U.S. Federal Reserve has with very little fanfare announced a new digital payment system.
The Federal Reserve’s long-anticipated instant-payments service FedNow will make its debut in July, the central bank announced Wednesday.
Through the FedNow Service, businesses and consumers will be able to send and receive payments instantly, with immediate access to their funds, but they must open an account with the Federal Reserve.
The FedNow Service will be available 24 hours a day, seven days a week, 365 days a year for instant bill payments, money transfers including paychecks and disbursements from the government.
The system does not rely on blockchain technology and is operated by a consortium of large banks.
The Fed said in a press release that there are “many early adopters” who have “declared their intent” to start using the payments service when it rolls out in July. These include “a diverse mix of financial institutions of all sizes, the largest processors and the U.S. Treasury.”
Here is my interview with Rebecca Walser of Walser Wealth Management regarding this big step toward a digital currency.
WATCH VIDEO (clip from 24:41 mark to 31:04 mark)
Author and technocracy expert Patrick Wood reports that the Trilateral Commission’s 50th anniversary marks the culmination of its self-proclaimed “New International Economic Order.”
On March 12, the Trilateral Commission held its plenary meeting in New Delhi, India, to discuss issues relating to globalization. Trilateral Commission co-founder Zbigniew Brzezinski’s “Technetronic Era” has apparently officially arrived.
Wood informs us that amid the new world alliances that are forming as India and China seek to normalize relations and as China just brokered a relationship between Saudi Arabia and Iran, the globalist narrative has opened a new, and possibly final, chapter. According to NikkeiAsia, one unnamed Trilateral Commission member addressed the plenary meeting and stated:
“Three decades of globalization — defined as integrated, free-market based and deflationary — has been replaced by what will be a multi-decade period of globalization defined as fragmented, not-free-market-based but industrial-policy-based and structurally inflationary. This year, 2023, is Year One of this new global order.”
This reflects Brzezinski’s early strategy to transform the world as he wrote in his 1971 book, “Between Two Ages: America’s Role in the Technetronic Era.,”:
“The nation-state as a fundamental unit of man’s organized life has ceased to be the principal creative force: International banks and multinational corporations are acting and planning in terms that are far in advance of the political concepts of the nation-state.”
That can only lead to one thing, Wood writes: Welcome to the “new global order.”
As you may have heard, the U.S. Department of Energy has announced plans to phase out the sale of gas stoves.
The Washington Free Beacon reported of the hundreds of people who have commented so far to the Consumer Product Safety Commission on the issue, “roughly 99% of those comments … express opposition to new gas stove regulations.”
Other comments suggested actions that were impossible, physically.
It all got started when Biden-backed commissioner Richard Trumka Jr. wildly claimed that a total ban on gas stoves was possible, since “products that can't be made safe can be banned.”
It appears to be part of the Biden agenda to eliminate fossil fuels in all situations for Americans, in pursuit of a green agenda, while even that draconian action would have little to no impact on the world's use of those fuels, reports World Net Daily.
In fact, some of Biden's immediate actions when he took office were to cancel oil drilling projects, kill pipeline projects and more. The result has been obvious to consumers: skyrocketing energy costs, gasoline for cars costing $6 a gallon in some cities, and overall inflation that peaked at more than 9% last summer.
No sooner did Biden claim to not support a ban on gas stoves, then his administration actually began moving immediately to target them through the Consumer Product Safety Commission and Energy Department.
The Department of Energy said its new rules would ban half of all gas stoves on the U.S. market.
The Free Beacon explained Trumka's threat came after a Colorado-based green energy group, the Rocky Mountain Institute, which works openly to remove oil and gas from the American economy, claimed that 13% of U.S. childhood asthma cases were linked to gas stoves.
Its claims have been criticized for the methodology on which they are based, as well as for being linked to the organization's bias.
And they’re not stopping with gas stoves.
The Biden regime is also coming for your washing machines.
WND reports the bureaucrats in Washington are insisting washers use less water, have longer cycles, and use detergents that cost more and don’t get clothes as clean.
Biden also has plans for new rules for refrigerators, coming as soon as 2027.
All in the name of saving the planet. Of course, it’s really all about exerting state power into every nook and cranny of our lives and seeing how many of us will submit to that power.
The Associated Press reports that the Diamond Sports Group, the largest owner of regional sports networks, filed for Chapter 11 bankruptcy protection on Tuesday. The move came after it missed a $140 million interest payment last month.
Diamond owns 19 networks under the Bally Sports banner. Those networks have the rights to 42 professional teams — 14 baseball, 16 NBA and 12 NHL.
The company said in a release Tuesday night that it expects to continue to operate during the bankruptcy process and that coverage of games should not be affected.
Diamond Sports also said it is negotiating a restructuring agreement with debt holders that will eliminate most of its debt. Under an agreement with creditors, it would become a separate company from Sinclair Broadcast Group.
Diamond said in a financial filing last fall it had debt of $8.67 billion. The bankruptcy filing was made in the Southern District of Texas.
Sinclair Broadcast Group bought the regional sports networks from The Walt Disney Co. for nearly $10 billion in 2019.
Humanoid robots are coming soon to a store near you. And they may even be caring for your elderly parent in a nursing home.
Axios reports that human-shaped robots will be staffing warehouses and retail stores, tending to the elderly and performing household chores within a decade, according to a Silicon Valley startup working toward that vision.
The robotic future is being driven by demographic trends — including a persistent labor shortage and the growing elder care crisis.
This makes fully-functioning, AI-driven humanoid robots “look tantalizingly appealing,” according to the report.
Companies such as Amazon are reportedly worried about running out of warehouse workers, whose jobs are physically and mentally demanding with high attrition.
A heavy-hitting startup called Figure is building a prototype of a humanoid robot that the company says will eventually be able to walk, climb stairs, open doors, use tools and lift boxes — perhaps even make dinner.
The company is the brainchild of Brett Adcock, a tech entrepreneur who assembled an all-star team of 40, including leading roboticists from Boston Dynamics and Tesla.
They've moved into a 30,000-square-foot facility in Sunnyvale, California, where they plan to set up a mock warehouse to test their prototype.
Adcock told Axios:
“We just got done in December with our full-scale humanoid. We'll be walking that in the next 30 days.”
The prototype — called Figure 01 — stands about 5'6" and weighs 130 pounds.
It'll be fully electric, run for five hours on a charge and is intended for warehouse use.
Adcock told Axios that he thinks he can get into commercial operation within a few years, adding: “We should be able to do most jobs — physical labor jobs that humans don't want to do.”
“We face high risk and extremely low chances of success,” Adcock wrote in a mission statement. But he exuded optimism in an interview: “This stuff just wasn't possible 10 years ago — I think it's possible now.”
A decade ago, “you just didn’t have the energy or the power density to make this work.”
Engineering robots is expensive. Adcock says he is self-financing the Figure project, having put in $10 million last year.
Goldman Sachs put out an initial research report on the humanoid robot sector in November, estimating that “a $6 billion market (or more) in people-sized-and-shaped robots is achievable in the next 10 to 15 years.”
This “would be able to fill 4% of the projected U.S. manufacturing labor shortage by 2030 and 2% of global elderly care demand by 2035.”
According to a new cost of living study by financial technology company SmartAsset, a $100,000 salary in New York City leaves workers with what feels like just $36,000, the lowest of nearly 80 cities analyzed by the financial advisory company.
The study looked at cities from Buffalo to Los Angeles to find where a dollar stretches the furthest, using the SmartAsset paycheck calculator and Council for Community and Economic Research data to find an estimate of purchasing power after accounting for living expenses. Each city was analyzed using a salary of $100,000.
The study found that a 6-figure salary goes the furthest in Memphis, Tennessee, clocking in at a purchasing power of $86,444.
That was followed by Oklahoma City in Oklahoma; San Antonio, Fort Worth, Arlington, Houston, Lubbock and Corpus Christie in Texas; and St. Louis in Missouri.
Tyson Foods will lay off nearly 1,700 employees in May with the closure of two chicken plants in Arkansas and Virginia, according to multiple reports.
Tyson will close plants in Van Buren, Arkansas, and Glen Allen, Virginia, on May 12, according to KFSM-TV and WTVR-TV. The closures will affect about 970 employees in Van Buren and nearly 700 workers in Glen Allen, the news stations reported.
In a statement obtained by CNBC, a Tyson official said that the decision “was not easy” but “reflects our broader strategy to strengthen our poultry business by optimizing operations and utilizing full available capacity at each plant.”
A company spokesman told The Wall Street Journal in a statement:
“The current scale and inability to economically improve operations has led to this difficult decision to close the facilities.”
Last month, Tyson reported an operating income of $69 million from its chicken business for a three-month period ending Dec. 31, 2022. A year earlier, the company reported an operating income of $140 million for the same business segment.
In a call discussing the company’s latest results, Tyson CEO Donnie King noted that “demand didn’t appear in the parts of the market where we had expected,” according to CNN.
As a result, he said the company “had to move things around. As we think about moving forward, efficiency in our operations in our company will be the focal point for us.”
He did not say if the decline in income and operating capacity had anything to do with the bird flu, which has led to the slaughter of tens of millions of birds in the U.S. over the last year. Often, entire flocks are slaughtered just because a few birds tested positive.
Tyson had 142,000 employees as of October 2022, including 124,000 in the U.S.
Just the News reports that House Oversight Committee Chairman James Comer (R-Ky) on Thursday released a summary of the first bank records showing how a $3 million payment from a Chinese company came into the United States, was broken up and eventually infused $1.3 million into the accounts of President Joe Biden's family members.
Comer's committee reported in a new memo summarizing its investigative findings:
“Pursuant to a subpoena, the Committee recently obtained financial records related to Mr. John Robinson Walker, a Biden family associate, and his company Robinson Walker, LLC. Prior to issuing the subpoena, the Committee received information that Mr. Walker used his company to transfer money to Biden family members. The bank records proved that information correct.”
The committee said it traced a $3 million payment that was sent from a Chinese company to Walker in March 2017 -- just two months after Joe Biden stepped down as vice president -- and then money totaling $1.3 million was distributed to accounts tied to Hallie Biden, the widow of the late presidential son Beau Biden, presidential brother James Biden and presidential son Hunter Biden.
A fourth account listed only as “Biden” also received money, the committee said. Comer said his committee is trying to determine which family member it belongs to.
The committee report concluded that:
“The Committee is concerned about the national security implications of a President’s or Vice President’s immediate family members receiving millions of dollars from foreign nationals or companies without any oversight. Current financial disclosure laws and regulations do not require non-dependent family members to provide any information to the public.”
Last week I interviewed Kevin Freeman, a writer on the economy who has authored several books including “Game Plan” and “Secret Weapon.” Kevin is a subject-matter expert on economic warfare and operates the website, EconomicWarroom.com. He has consulted with and briefed members of Congress, the CIA, DIA, FBI, SEC, and Homeland Security.
We spoke about the Chinese doctrine of unrestricted warfare, which includes economic warfare.
Here is an excerpt from that interview with Kevin Freeman on my show, Brannon Howse Live.
WATCH VIDEO (clip from 17:39 mark to 21:23 mark)
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.
Call 901-468-9357 for phone orders or to make a donation
Get your free, no obligation packet on precious metals by texting or calling Wes Peters with Swiss America at 602-558-8585
FREE SHIPPING - Click here and visit www.wvwtvstore.com to order emergency, freeze-dried food that will last 25 years.
Please help us with the huge cost of producing and distributing FREE radio and television programs by making a contribution at www.wvwfoundation.com or by calling 901-468-9357 or by sending your contribution to:
P.O. Box 1690
Collierville, TN 38027
Please go to www.Mypillow.com and use the promo code WVW to save up to 66% off and Mike Lindell will give a generous percentage back to WVW-TV to support our free broadcasts.
We're a 100% Listener Supported Network
3 Simple Ways to Support WVW Foundation
Make Monthly Donations
A One-Time Donation
Mail In Your Donation
Worldview Weekend Foundation
PO BOX 1690
Collierville, TN, 38027 USA
Donate by Phone