Aug 16 2025

Bannon: “You Wanna Get World Peace? Combine The Russian People And The American People”

Posted originally on Rumble By Bannon’s War Room on: August 15, 2025

Aug 15 2025

Venmo to Pay the National Debt?

Posted originally on Aug 15, 2025 by Martin Armstrong |

The US Treasury Department is extremely desperate for any morsel it can find to put toward the $36.7 trillion national debt. Is Donald Trump asking Americans to Venmo or PayPal the US government cash to pay down the national debt? Not quite, as the Treasury has a long-standing program called “Gifts to Reduce the Public Debt” that asks Americans to donate their personal funds toward government spending.

Trump introduced the option to pay through online platforms such as PayPal or Venmo; however, the program began decades ago in 1996. The Pay.gov website also accepts bank transfers, debit or credit cards. You could probably offer your first-born as payment as the Treasury is indeed that desperate.

Some Americans are indeed voluntarily giving the government money. In fact, the initiative has collected $67 million since it began in 1996 and the coffers are growing a mere $120,000 per month since 2020. The rest of us are involuntarily providing the government with money through taxation without representation.

Obviously, the charitable contributions are a complete joke and could not account for even a day of interest on the national debt. Still, the options exist and those who believe that taxes deserve to rise should willingly hand over their money to the government while the rest of us attempt to navigate our finances amid the volatile conditions the government has created. They will continue to collect more taxes rather than curtail spending involuntarily, yet they will never collect enough.

Some consider donating to the lost cause that is the US government as a tax deductible charitable contribution. The US government, the largest economy on the planet, does not need charity. The US government needs to curtail its reckless spending and hold politicians responsible for their endless waste.

Aug 14 2025

US Household Debt Rose by $185 Billion in Q2 2025

Posted originally on Aug 14, 2025 by Martin Armstrong |

The Federal Reserve Bank of New York released a troubling quarterly statement as the total household debt in the US increased by $185 billion in the past three months, up 1% from last quarter, when total household debt reached $18.9 trillion. Total household debt in the US now sits at $18.39 trillion.

Housing debt increased 1.1% from April to June, now standing at $149 billion. Mortgage balances increased by $131 billion, notably the largest cause of household debt. Mortgage originations increased at a modest pace with $458 billion of debt added, while HELOC balances grew by $9 billion to $411 billion.

Non-housing debt rose by $45 billion, with credit card debt rising $27 billion to $1.21 trillion, up 5.87% YoY. Auto loans rose by $13 billion to $1.66 trillion. Student loans are now due for repayment, with total outstanding payments rising by $7 billion to an unsustainable $1.64 trillion.

Adults aged 40 to 49 hold $4.81 trillion of the total outstanding debt and experienced a $50 billion debt increase in the last quarter. Younger Americans between 18 and 29, naturally, have yet to accumulate much interest on their debt and owe $1.1 trillion as a collective.

Delinquency rates rose during Q2 as 4.4% of all outstanding debt is in some stage of delinquency. Compared to pre-pandemic levels, household debt is up by 30%. American households are experiencing a pattern of financial stress that has not meaningfully waned since the pandemic. The government has destroyed the purchasing power of the USD through endless deficits and inflationary policies. The US is not heading toward a recession; rather, we are in a period of stagflation with inflation outpacing GDP growth primarily due to rising costs and wars globally.

I said it once, and I will say it again: Our computer is demonstrating that volatility in unemployment will rise from 2026, peaking first in 2028 with a Panic Cycle in 2029. This also confirms our War Cycles for 2026. What we MUST come to grips with is that there is far more to understanding the economy from a single statistic perspective.

Aug 14 2025

Could Trump Sue Powell?

Posted originally on Aug 14, 2025 by Martin Armstrong |

President Donald Trump has threatened Federal Reserve Chairman Jerome Powell with a “major lawsuit.” Could the sitting president sue the head of the central bank that acts independently of the Fed? It depends on the context as there are two issues—interest rates and the Federal Reserve headquarters operation.

The Federal Open Market Committee, the voting branch of the Federal Reserve, is protected by sovereign-immunity. The only exception would be a congressional waiver which simply would never happen. The plaintiff would need to present clear statutory cause of action and a waiver of immunity. Coercing the independent branch of the Federal Reserve to lower interest rates is not cause for legal action and would be dismissed immediately.

As for the new Federal Reserve headquarters, Trump could attempt to file an injunction claim against mismanagement or fraud, and would once again need a clear cause of action and a waiver of sovereign immunity.

The Federal Reserve operates on a self-funding mechanism, allegedly, using revenue it generates from interest on government securities and other services such as payment processing. Yet, that interest is generated from public funds. However, the Federal Reserve does not need approval from Congress to finance internal costs as it manages to bypass the federal budget. Powell has documented justification for the rising cost of the project, and there is no evidence of fraud or mismanagement. Congress would never consent to a waiver of sovereign immunity. The legal system would immediately overturn the claim as there is no actionable legal violation, especially against Powell personally.

The plaintiff, Trump, could attempt to pursue a private civil case against Powell, but again, that would also be immediately dismissed as the Fed chair has not attacked Trump, defrauded the government, or manipulated rates for political reasons. The prospect of suing the chairman of the central bank is absolutely absurd and a clear overreach of federal power. The Federal Reserve MUST have the ability to act independently of political pressure.

Now, the Supreme Court once ruled that the branches of the fed are “creatures of the Federal Reserve Act,” and fall under federal jurisdiction. The Supreme Court’s Cooper v. Federal Reserve Bank of Richmond (1984) regarded discrimination claims against a regional branch under Title VII and 42 U.S.C. § 1981. The Equal Employment Opportunity Commission (EEOC) accused the bank of violating the Civil Rights Act.

The legal reasoning behind the Supreme Court’s decision in Cooper v. Federal Reserve Bank of Richmond centered on the principle of res judicata (claim preclusion) and how it applies to class action lawsuits, which is different than Trump v. Powell. The Court examined whether the judgment in the prior class action suit, which found no widespread discrimination, barred individual class members who had opted out from pursuing their own separate discrimination claims. the Supreme Court ultimately ruled that the employees had the right to bring their individual claims against the Federal Reserve Bank of Richmond, permitting individual employees to proceed with individual lawsuits. Again, this is a separate matter that was not a direct lawsuit against the Federal Reserve for monetary policy decisions.

The majority of cases filed against the Fed involved employment issues. Vannoy v. Federal Reserve Bank of Richmond in 2016 accused the same branch of violating the Family Medical Leave Act (FMLA) and discrimination under the Americans with Disabilities Act (ADA). The central bank granted Vannoy medical leave, but he claimed he was not properly notified of his FMLA rights and returned to work early to avoid losing his job, which actually led to his termination. The case went to a higher court and ultimately allowed Vannoy to file his claim of FMLA interference. Again, these cases are based on employment at the Fed rather than policy or against an individual member of the central bank.

There have been lawsuits over policy, such as cases against the Fed’s stress tests in 2024, and challenges to emergency lending programs during financial crises. It is rare for the court to rule against the Fed, but it has happened. In 2011, the Fed was sued for the “swipe fees” regulation (Regulation II) that capped the fees banks could charge merchants. The court ruled that the Fed did not have the authority to issue a uniform cap when Congress required issuer and transaction-specific regulations.

The challenger must show clear illegal overreach and a blatant disregard for administrative procedures. Jerome Powell has not violated the law by maintaining interest rates or overseeing the creation of the Fed headquarters. Trump’s threats hold no weight as no court would take his claims seriously.