Trump's objective is to abolish the IRS

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News Date: February 20, 2025

February 25, 2025:
Doug O'Donnell, the acting head of the IRS, is set to announce his retirement amid significant disruptions at the agency. His departure follows recent layoffs initiated by the Trump administration and an attempt by personnel from the Department of Government Efficiency (DOGE) to access taxpayer data. The move comes at a time of mounting challenges for the tax collection agency.
February 20, 2025:
Commerce Secretary Howard Lutnick stated on Fox News that President Trump's objective is to abolish the IRS, aligning with his broader vision of replacing federal income taxes with tariffs on foreign nations.
Lutnick emphasized that the administration aims to balance the U.S. budget by the end of Trump's term, reinforcing Trump's economic and fiscal agenda.
"I am so pumped up for it," Lutnick declared on Jesse Watters Primetime, highlighting plans for an "External Revenue Service" to oversee alternative revenue sources.

Biden cited Republicans: Trump is still President

Biden at the 10-year anniversary of the Martin Luther King, Jr. memorial:
It's something like 20 percent of the Re- or half the Republicans - the registered Republicans: I am not your President; Donald Trump is still your President. As we Catholics say, "Oh, my God."
Sources: twitter.com ,www.dailymail.co.uk

BRICS to create fairer payment mechanism

BRICS is exploring ideas to create a fairer payment system that reduces dependence on dollars, South African Foreign Minister Naledi Pandor has said.
South Africa is the current BRICS chair.
Source: indiatimes

Donald Trump: 1776, not 1619

President Trump made a huge statement: 1776, not 1619! 1619 project was when first slaves were brought to America. 1776 was Americas Declaration of Independence. All men are created equal.
We will completely defund and bar Critical Race Theory - 1776 not 1619, Trump said, referring to Jones highly controversial 1619 project, in which Jones asserts the United States was founded on the institution of slavery as well as the legalized discrimination against black Americans.
The declared purpose of the President Advisory 1776 Commission ordered by Trump in 2020, was to enable a rising generation to understand the history and principles of the founding of the United States in 1776 and to strive to form a more perfect Union.
Sources: t.me/real_DonaldJTrump, www.breitbart.com

US Sanctions Risking systemic collapse

Russia could ask for rubles or gold in exchange for energy. If that occurred Europe would have little choice. The real leverage in the Petrodollar system is on the 'petro' side.
It will be interesting to see how this develops. If energy payments begin moving outside of the SWIFT system, then the Petrodollar will be severely damaged.
Regardless, it's going to be disruptive and we're going to see additional problems. Very likely we will see further money printing and more stagflation.
The United States' attempts to simultaneously take on both Russia and China is a bad idea. We're forcing the two of them together while Europe is trying to play both sides. This situation will end with China and Russia gaining status.
Russian citizens have also been buying gold. This crisis will hurt their citizens, but this isn't Russia's first rodeo. The fact that Putin has done this either means he's lost his mind or he has a plan and found a window of opportunity.
We could see serious spillover effects on bonds and real yields.
The United States can't afford higher rates, and they can't remove Russia's oil without destroying their own markets.
We could see big changes should Russia use their gold as leverage. Possible scenarios that could occur should gold be revalued.
Source: youtube.com

Birth certificates and Sight Drafts myth

When the United States went off the gold standard in 1933, the federal government somehow went bankrupt.
With the help of the Federal Reserve Bank, the government converted the bodies of its citizens into capital value, supposedly by trading the birth certificates of U.S. citizens on the open market.
After following a complicated process of filing UCC documents with either the Secretary of State of the persons residence or another state that will accept the filings, each citizen is entitled to redeem his or her "value" by filling out a sight draft drawn on their (nonexistent) TreasuryDirect account.
The scheme asserts that each citizens Social Security Number is also his or her account number.
As a part of the scheme, participants also file false IRS Forms 8300 and Currency Transaction Reports in the name of law enforcement officials and other individuals they seek to harass.
Drawing such drafts on the U.S. Treasury is fraudulent and a violation of federal law. The theory behind their use is bogus and incomprehensible. The Justice Department is vigorously prosecuting these crimes. Federal criminal convictions have occurred in several cases.
Sources: www.treasurydirect.gov