The Myth of the Federal Reserve: Why Monetary Policy No Longer Drives Economic Reality
Why the Federal Reserve’s Power Is Often Overstated in the Modern Economy There’s a strong case to be made that in today’s global, debt-heavy, supply-chain-driven economy, the Federal Reserve has far less real control than it claims and far less than the public is led to believe. Under Jerome Powell, monetary policy has looked less […]
Why “Buy Now, Pay Later” Plans Are Threatening Banks and Credit Cards
The Rise of BNPL “Buy Now, Pay Later” (BNPL) services like Affirm, Klarna, and Afterpay are reshaping consumer finance. These installment loan options let shoppers split purchases into smaller payments, often interest-free if paid on time. Their adoption has surged in the United States: an estimated 86.5 million Americans used BNPL in 2024, and the […]
Why the United States Has 4,500 Banks While Canada Has Just 79
A Tale of Two Banking Systems The United States has nearly 4,500 federally insured banks. Canada? Just 79. The striking disparity isn’t an accident—it reflects two very different philosophies about how banking should function. In Canada, banking has long been concentrated among a small group of powerful institutions. The “Big Five”—Royal Bank of Canada, TD […]
Mexican Drug Cartel Tied To Underground Chinese Bank in California
China and Mexico Arrest Fugitives Following U.S. Justice Department’s Investigation into Drug and Money-Laundering Scheme July 8, 2024 — In a significant breakthrough in the fight against international drug trafficking and money laundering, law enforcement agencies in China and Mexico have arrested key fugitives following a multi-year investigation by the U.S. Justice Department. The operation, […]