Let’s examine a critical topic that affects all of us: the Trump administration’s push to impose tariffs on pharmaceutical imports. While this move may sound like just another policy headline, it could have serious consequences for millions of Americans, especially those already struggling to afford healthcare (unfortunately, there are millions of them!).

America’s Dependence on Imported Pharmaceuticals

The United States is the world’s largest importer of pharmaceutical products. In 2024 alone, the country imported around $214 billion worth of drugs and related products, while exporting only $95 billion, leaving us with a hefty $119 billion trade deficit in this sector.

But here’s what’s important: the U.S. doesn’t just import finished drugs. We also rely on foreign sources for active pharmaceutical ingredients (APIs)—the core compounds used in drug manufacturing. While about 54% of these were produced domestically in 2019, the rest came from countries like Ireland, China, India, and Germany.

This means that even “Made in America” medications still depend on global supply chains—and tariffs could disrupt the entire system.

Generic Drugs Are Especially at Risk

Generic medications, often more affordable than brand-name drugs, are particularly vulnerable. China, for example, supplies 95% of U.S. ibuprofen imports, 91% of hydrocortisone, and up to 45% of penicillin. The U.S. doesn’t currently have the manufacturing capacity to replace these imports at scale.

If tariffs are imposed, prices on everyday drugs—from antibiotics to over-the-counter painkillers—could skyrocket, leaving consumers with no choice but to pay more or go without.

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A Broken System on the Brink

Let’s not forget: the U.S. healthcare system is already broken (I will share more detailed posts on this in the near future).

According to the Commonwealth Fund, America ranks last among 10 high-income nations when it comes to healthcare access, outcomes, and equity. Despite spending 16% of its GDP on healthcare, the U.S. continues to fall short.

Here’s a snapshot:

• 26 million Americans remain uninsured.

• 1 in 4 working-age adults are underinsured.

• Over 40% of Americans spent $1,000 or more out-of-pocket on healthcare last year.

• Life expectancy is just 77.5 years—lower than many peer nations, and even comparable to Iran.

Now add tariffs on life-saving medicines? It’s a recipe for disaster.

Watch the latest video where I share more details on the subject, available on YouTube and Rumble:

How Tariffs Raise Drug Prices

Here’s how tariffs can hurt consumers:

1. Higher Production Costs – Tariffs raise the cost of importing ingredients, making medications more expensive to produce.

2. Less Competition – Smaller generic drug companies may not survive, reducing competition and driving prices up.

3. Disrupted Supply Chains – Delays and shortages could hit pharmacies across the country.

4. Fewer Generics – Delays in launching affordable generics mean consumers may be stuck paying for costly brand-name drugs.

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Therefore, tariffs on pharmaceuticals may sound like an economic strategy, but in reality, they hit everyday Americans the hardest. At a time when people are already drowning in medical bills, we need policies that lower healthcare costs, not drive them higher.

Should the U.S. impose tariffs on pharmaceutical imports? Drop a comment below—I’d love to hear your take.

Thanks again for reading!

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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Greetings, All!

Let’s catch up on the latest top headlines, opinions, and recommendations.

This week I enjoyed three fascinating conversations:

Collapse of the Fake Economic System: Threat of Iran War & Surging Debt Send Final Warnings with Dr. Ron Paul

Dr. Paul notes that the United States has been on an unsustainable fiscal path, and we are witnessing the collapse of the fake economic system. President Trump seeks to increase the Pentagon budget to $1 trillion as the federal deficit rises and the national debt surpasses $37 trillion. Interest on the debt is already larger than spending on Medicare and national defense combined – it is second only to Social Security. Ending the glorification of militarism and interventionism over peace, sound money policies, and the nation’s prosperity is the first step toward addressing economic and political challenges.

US-Russia Peace Talks Stall: Will US Abandon the Failed Proxy War to Attack Iran? with Prof. Pascal Lottaz

Dr. Pascal Lottaz notes that although the US-Russia peace talks are progressing much slower than originally expected, the peace in Ukraine is viewed by both sides as only a part of the bigger goal to re-establish an effective security architecture in Europe. The calls for a ceasefire are meant to freeze the conflict as Russia is decisively winning on the battlefield. The tensions within the Trump administration and the neocons who push to continue the fighting (such as Gen. Chris Cavoli) indicate internal policy misalignment as the military-industrial complex refuses to abandon a failed proxy war before it sets the stage for a pivot to another lucrative multi-billion-dollar conflict.

China Warns Philippines: The US Grooms New Pawn for War on China with Dr. Anna Malindog-Uy

The US State Department’s approval of a $5.58 billion military sale to the Philippines, featuring 20 cutting-edge F-16 fighter jets and a wide array of advanced weaponry and support systems, came amid reports of the deployment of yet another Typhon missile system to the country. After the recent social unrest caused by the ICC arrest of the former President Rodrigo Duterte, the Marcos Jr. administration welcomed US Secretary of Defense Pete Hegseth, whose main goal was to strengthen the military alliance between the two countries.

Anna Malindog-Uy notes that the new arms race in the region will drive China to an increasingly defensive posture and further destabilize the Indo-Pacific region. Tensions in the South China Sea and those surrounding Taiwan are escalating, and the multi-billion-dollar sales of weapons to the Philippines indicate that the country is being groomed as a new U.S. proxy in Asia.

Top Videos of the Week

US to Send $10,000 Checks to EACH Greenlander to Allow the US to Annex Their Land

Donald Trump’s push to acquire Greenland has turned from a bizarre idea into a formal U.S. strategy, now using taxpayer-funded PR campaigns and financial incentives to manipulate Greenland’s small population. Rather than respecting Greenlandic autonomy, the U.S. aims to “educate” residents into alignment while painting Denmark as a villain. Trump’s plan proposes $10,000 payments per resident to gain access to the island’s valuable resources—benefiting U.S. elites, not Greenlanders. Despite clear opposition from both Denmark and the island’s people, Trump remains confident. What looks like soft power is, in reality, a calculated attempt to buy influence and exploit Arctic resources under false pretenses.

China Is De-dollarizing: China Launches $1.2 Trillion Digital Yuan System, Bypasses Western SWIFT

The U.S.–China tariff war has sharply escalated, with China imposing a 125% tariff on U.S. goods in response to Trump’s staggering 145% tariff on Chinese imports. While Trump frames it as a punishment for China’s “disrespect,” critics argue it's reckless protectionism harming global trade and U.S. consumers. Treasury Secretary Scott Bessent downplayed China’s retaliation, ignoring how deeply these tariffs affect American wallets. Without broader economic reforms—like investing in labor, infrastructure, and raw materials—tariffs alone won’t revive U.S. manufacturing. This trade war may be more about political posturing than policy, and it’s the American public who will pay the price.

This Week’s Top Headlines

President Trump backtracks on tariffs, exempts phones, chips, and computers

The exclusions, published late Friday by US Customs and Border Protection, narrow the scope of the levies by excluding the products from Trump’s 125% China tariff and his baseline 10% global tariff on nearly all other countries.

The exclusions apply to smartphones, laptop computers, hard drives, computer processors, and memory chips. These popular consumer electronics items are generally not made in the US, and the US imports over $60 billion of smartphones per year.

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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Trump envoy: Ukraine could be divided like postwar Berlin

Keith Kellogg suggests the UK and France could lead the western zone of control while enjoying full control of Odessa, a critical naval point on the Black Sea, while Russia controls the left bank of the Dnipro River.

In an interview with The Times, Kellogg said the Anglo-French-led force west of the Dnipro River would “not be provocative at all” to Moscow. On numerous occasions, Russia made it clear that any Western troops would be escalatory and therefore unacceptable.

Following the release of the interview, Keith Kellogg said The Times misunderstood the meaning of what he said about "dividing Ukraine."

US-Iran Negotiations Begin in Oman

Following the bilateral talks on April 12 in Oman, Iran said the first formal talks with US envoy Steve Witcoff over its nuclear program were “constructive,” and both sides agreed to meet again next week. The indirect talks lasted 2.5 hours, after which US envoy Steve Witcoff and the Foreign Minister of Iran, Seyed Abbas Araghchi, spoke briefly.

The two sides discussed Iran’s nuclear program and the lifting of sanctions “in a constructive atmosphere and with mutual respect,” the Iranian foreign ministry said in a statement after indirect talks that lasted for more than two hours.

While the US seeks the full dismantling of Iran’s peaceful (civilian) nuclear program, Iran has proposed to the United States a nuclear-free Middle East, including a completely denuclearised Israel.

Former Iranian diplomat and participant in the 2015 nuclear talks Hossein Mousavian commented that Iran would never agree to the US demands to shut down its nuclear program, and the Iranian missile program would also be off-limits in these negotiations. If a deal is to be made, it has to consider the interests of all involved parties.

Vladimir Putin and US envoy Steve Witkoff met in St. Petersburg on April 11th 2025

This was the third meeting this year between President Putin and Steve Witkoff. Earlier this week, US Secretary of State Marco Rubio commented:

“We will know soon enough, in a matter of weeks, not months, whether Russia is serious about peace or not. I hope they are."

Although no details have been released, Turkiye announced that it will host the next round of negotiations between Russia and the United States.

Market Turmoil Amid Tariff Announcements

President Trump's sudden announcement of a 10% universal tariff on all imports, effective April 5, and additional “reciprocal” tariffs targeting specific countries, including a 145% tariff on Chinese imports, led to global market volatility. The MSCI All-Country Index lost over $5 trillion in value, reflecting investor unpreparedness for such aggressive trade policies and a deteriorating economic outlook as a result of the new tariff regime and instability.

What I’m Reading & Listening to This Week

This week, my top podcast was “Ukraine is a repeat of Afghanistan” by Neutrality Studies. Why is this an important topic? History repeats itself. Little-known facts, such as that the US used Mujahideen as proxies in its ideological war with the USSR, provide clarity and help set the stage for understanding hybrid warfare and current proxy conflicts.

Additionally, I enjoyed a recently published article, “Under Primacy, Weapons Sales Will Always Supersede Human Rights.” The U.S. government’s professed dedication to human rights is often at odds with its pursuit of global military dominance. Since the 1970s, when Congress enacted laws to restrict military aid to human rights violators, the U.S. has presented itself as a global defender of rights. However, this commitment has consistently taken a backseat to strategic interests, from the Cold War to the War on Terror. Despite legislation, Congress has never blocked a weapons sale, exposing the limits of these human rights protections.

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This pattern has continued through successive administrations, regardless of party. The U.S. frequently invokes human rights to criticize adversaries, while ignoring violations by allies. This hypocrisy is especially evident in the Biden administration’s unconditional military support for Israel during its 2023 invasion of Gaza, despite credible evidence of legal violations.

The author argues that as global power shifts toward multipolarity, Washington remains fixated on preserving U.S. military supremacy. In this environment, human rights remain secondary, and they are used selectively when convenient. Genuine progress requires a fundamental rethinking of U.S. foreign policy, emphasizing restraint and reducing reliance on military dominance to foster a more consistent and principled commitment to human rights.

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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Today, I was honored to connect with Dr. Ron Paul whose dedication to supporting a peaceful foreign policy and the protection of civil liberties at home has been unparalleled. Dr. Paul is a former Congressman, United States Presidential candidate, and the founder of The Ron Paul Institute for Peace and Prosperity. Dr. Paul is the host of The Ron Paul Liberty Report, a must-watch show on Rumble!

Dr. Paul notes that the United States has been on an unsustainable fiscal path, and we are witnessing the collapse of the fake economic system. President Trump seeks to increase the Pentagon budget to $1 trillion as the federal deficit rises and the national debt surpasses $37 trillion. Interest on the debt is already larger than spending on Medicare and national defense combined – it is second only to Social Security. Ending the glorification of militarism and interventionism over peace, sound money policies, and the nation’s prosperity is the first step toward addressing economic and political challenges.

Follow Dr. Ron Paul on X, watch The Ron Paul Liberty Report for daily updates, news, and analysis, and connect with the Ron Paul Institute for Peace and Prosperity.

The video is available on YouTube and Patreon.

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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Although President Donald Trump campaigned on ending the Ukraine-Russia conflict “in 24 hours”, the complexity of the US proxy war has proven to be far more nuanced. Since January 2025, the neocons in Washington spent $1 billion to bomb Yemen as the Trump Administration approved nearly $12 billion in major FMS sales to Israel. As the US buildup of military assets around Iran intensifies, will it seek to exit its failed proxy war in Ukraine to attack Iran?

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Dr. Pascal Lottaz notes that although the US-Russia peace talks are progressing much slower than originally expected, the peace in Ukraine is viewed by both sides as only a part of the bigger goal to re-establish an effective security architecture in Europe. The calls for a ceasefire are meant to freeze the conflict as Russia is decisively winning on the battlefield. The tensions within the Trump administration and the neocons who push to continue the fighting (such as Gen. Chris Cavoli) indicate internal policy misalignment as the military-industrial complex refuses to abandon a failed proxy war before it sets the stage for a pivot to another lucrative multi-billion-dollar conflict.

Dr. Pascal Lottaz is Associate Professor for Neutrality Studies at Kyoto University’s Faculty of Law & Hakubi Center. Follow Pascal on X and watch one of his recent interviews and analysis videos on Neutrality Studies.

The video is available on YouTube and Patreon.

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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The US State Department’s approval of a $5.58 billion military sale to the Philippines, featuring 20 cutting-edge F-16 fighter jets and a wide array of advanced weaponry and support systems, came amid reports of the deployment of yet another Typhon missile system to the country. After the recent social unrest caused by the ICC arrest of the former President Rodrigo Duterte, the Marcos Jr. administration welcomed US Secretary of Defense Pete Hegseth, whose main goal was to strengthen the military alliance between the two countries.

Anna Malindog-Uy notes that the new arms race in the region will drive China to an increasingly defensive posture and will further destabilize the Indo-Pacific region. The tensions in the South China Sea and those surrounding Taiwan are escalating as the multi-billion-dollar sales of weapons to the Philippines indicate it is being groomed as a new U.S. proxy in Asia.

Dr. Anna Malindog-Uy is the Vice President at the Asian Century Philippines Strategic Studies Institute. Follow Anna on X and read her latest articles on her site.

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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Greetings, All!

Let’s catch up on the latest top headlines, opinions, and recommendations.

The big story of the week was, without a doubt, Liberation Day, when President Trump announced new tariffs on 185 countries, including an uninhabited island with zero human population and many, many penguins.

This week I enjoyed two fascinating conversations:

Stolen Gold in Fort Knox, U.S. Dollar vs. Gold, Gold Revaluation, Bitcoin Reserve & $37 Trillion Debt Payoff

With Ryan McMaken, we discussed a range of topics related to the mysterious gold reserves held at Fort Knox and their true origins. Ryan shared his perspective on whether gold revaluation would collapse the U.S. dollar and if President Trump would use gold reserves to pay off $37 trillion in federal debt or buy Bitcoin for the newly created Federal Bitcoin Reserve.

Ryan McMaken notes that the gold held at Fort Knox was effectively “stolen” from the American public by the U.S. government after President Franklin D. Roosevelt issued Executive Order 6102 in 1933. This order effectively made gold ownership, both in coins and bars, illegal for all Americans and punishable by up to ten years in prison.

Tariffs, Tensions, and Trade: Understanding the US-China Conflict

As the new tariff regime is launched, its impact on the United States, the targeted countries, and the global economy is increasingly challenging to predict. It will undoubtedly raise prices domestically. The total tariff on goods produced in China now stands at 54 percent! After identifying China as a foreign “adversary,” the United States has doubled down on aggressive policies aimed at inflicting economic pain to weaken China’s manufacturing, military, and geopolitical capabilities.

Dr. Warwick Powell notes that China’s trade ties are well-diversified, and the shift away from the US market will take no longer than two years. The new tariffs are unlikely to yield better results than the tariff regime imposed on China during President Donald Trump’s first term. In fact, China has already won the technology race. Warwick underscored that tariffs alone would not “bring manufacturing back to the United States”; instead, policies to reduce the dominance of the finance sector, raise substantial investments in infrastructure, and create highly skilled, well-educated human capital should be prioritized.

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Stagflation Alert: Panic Begins as Inflation Rises, US Economy Slows & Trade Policy Chaos Deepens

No, it’s not “fearmongering”—even before “Liberation Day”, the US economy has started to show signs of weakening GDP growth, declining consumer demand, and rising inflation. I shared the specifics in this video, along with supporting data. Senator Rand Paul summed up the impact of tariffs best:

On an unrelated note, it is now “acceptable” to admit that the United States’ foreign policy is to blame for the emergence of the trend to de-dollarize. A recent article published in Financial Times spells out how the US “weaponized” the dollar:

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In retaliation for President Trump’s 54% tariff, China imposed a 34% tariff and launched export controls limiting the sale of rare earth minerals. The move undercuts Trump’s goal to increase purchases of the necessary components for domestic production.

Additionally, in a quite surprising turn of events, the EU signaled its willingness to escalate if a deal is not reached. The EU finds itself in a very unfortunate situation since the US is its top trade partner, and the more escalatory measures are taken, the weaker its economic realities become. In this video, I explain the US-EU trade patterns and the dependence of the European countries on Trump’s trade policies.

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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This Week’s Top Headlines

• President Trump introduced reciprocal tariffs, referring to the new trade policies as America's "declaration of economic independence."

  • The US is introducing 10% duties on imported goods from all countries of the world.

  • For all finished vehicles, tariffs of 25% will be effective on April 3.

  • The US introduced 20% duties on imports from the EU

  • An additional 25% duty on all importers of oil from Venezuela

  The estimated cost of new reciprocal tariffs is $654 billion based on the import data.

• Following President Trump’s announcement of new tariffs, hedge funds sold nearly $40 billion of North American stocks on Thursday, April 3rd. Since April 2, the Dow Jones Industrial Average dropping by 5.5%, the S&P 500 dropped 9% on the week, its worst week since the breakout of Covid in early 2020, and the Nasdaq tanking by 5.8%, with the Nasdaq entering bear market territory.

• US job cut announcements surged 205% year over year, recording 275,240 layoffs in March, the third-highest monthly reading on record and a 60% increase from the prior month.

  The US government (DOGE) has led all sectors with 216,215 cuts in March and 279,445 cuts year-to-date, up 672% from Q1 2024.

• The mystery related to the existence of US gold reserves took an unexpected turn this week. Germany plans to withdraw $124 billion worth of gold from US reserves after President Trump's reciprocal tariffs.

• Following the introduction of tariffs, steep margin calls, and stock market losses, JP Morgan expects a US recession in 2025.

• In Rome, thousands of people marched against the EU’s €800 billion rearmament plan, chanting, “We need new hospitals, not missiles.”

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What I’m Reading & Listening to This Week

• “Those who willingly become pawns will inevitably be discarded,” Dr. Anna Malindog-Uy writes in her new article titled “As Hegseth visits Manila, Beijing warns outsiders against meddling in South China Sea.” The ongoing militarization of the Philippines by the United States (under Biden and Trump) should be concerning to anyone, especially those who directly fund it via their tax dollars. During his first visit to Asia, Pete Hegseth told Philippine President Ferdinand Marcos Jr. that deterrence was needed against China in the region. Is the Philippines being groomed to become the Ukraine of Asia? Anna shares the details and her perspective, as a Filipino, on the troubling events in the region.

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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As the new tariff regime is launched, its impact on the United States, the targeted countries, and the global economy is increasingly challenging to predict. After identifying China as a foreign “adversary”, the United States has doubled down on aggressive policies aimed at inflicting economic pain to weaken China’s manufacturing, military, and geopolitical capabilities.

Dr. notes that China’s trade ties are well-diversified, and the shift away from the US market will take no longer than two years. The new tariffs are unlikely to yield better results than the tariff regime imposed on China during President Donald Trump’s first term. In fact, China has already won the technology race. Warwick underscored that tariffs alone would not “bring manufacturing back to the United States”; instead, policies to reduce the dominance of the finance sector, raise substantial investments in infrastructure, and create highly skilled, well-educated human capital should be prioritized.

Follow Warwick Powell on X, and check out his recent articles here!

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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Follow World Affairs in Context on YouTube for more video content. In the comments section, let me know who you would like to see as a guest on the podcast in the future.

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As the gold price reached $3,000 per troy ounce, the Trump administration may consider revaluing U.S. gold reserves. Despite the fact that calls to audit Fort Knox have died down, the existence of nearly 8,000 tons of gold (worth about $750 billion) held at Fort Knox is still surrounded by mystery. Does the gold at Fort Knox even exist? What is its true origin? What’s driving the federal government’s lack of transparency? Will gold revaluation collapse the U.S. dollar, as so many gold brokers claim? Will gold reserves be used to pay off $37 trillion in U.S. national debt or buy Bitcoin for the newly created Federal Bitcoin Reserve? I discussed these and other questions with Ryan McMaken, economist and executive editor at the Mises Institute.

Ryan McMaken notes that the gold held at Fort Knox was effectively “stolen” from the American public by the U.S. government after President Franklin D. Roosevelt issued Executive Order 6102 in 1933. This order effectively made gold ownership, both in coins and bars, illegal for all Americans and punishable by up to ten years in prison.

Follow Ryan McMaken on X, and check out his books and articles here!

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform.

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Follow World Affairs in Context on YouTube for more video content. In the comments section, let me know who you would like to see as a guest on the podcast in the future.

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Chinese regulators recently blocked BlackRock’s $23 b…

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Greetings, All!

Let’s catch up on the latest top headl…

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The article was written by Dr. Ron Paul and originall…

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Let’s catch up on the latest top head…

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While it may be challenging to keep up with President Trump’s slew of statements, ideas, and new laws, changes to the U.S. tax code have been on Trump’s agenda since he kicked off his 2024 presidential campaign. Against the backdrop of the newly announced tariffs on China, Mexico, and Canada, expected changes to the tax code include reductions in income tax rates and increases in income tax credits. Despite these changes appearing promising at first glance, increases in tariffs (and thus, likely increases in consumer prices) may offset moderate reductions in individual income taxes.

Any changes to tax legislation will proceed through the legislative process called “reconciliation.” On January 17, 2025, a House Ways and Means Committee prepared and circulated a long list of proposed tax law changes.

While writing (and, to be fair, reading) about taxes is arguably the most boring way to pass the time, let’s quickly walk through the key proposed changes to the United States tax code and their expected impact on the U.S. economy. We’ll begin with the Tax Cuts and Jobs Act, which is the most important part of the proposal.

Extension of the 2017 Tax Cuts and Jobs Act (“TCJA”)

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U.S. Secretary of State Marco Rubio acknowledges that the unipolar world has come to an end. Despite the United States desperately attempting to maintain its global dominance, great powers China and Russia will continue to use available resources to advance their interests and enhance multipolarity.

The question is - will the United States accept its new role?

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As the Biden administration winds down, it is determi…

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The BRICS+ economic alliance continues to expand. The…

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From whitewashing Nazis in Ukraine to praising jihadists of Hayat Tahrir al-Sham as “freedom fighters” and “Syrian rebels”, Western leaders have abandoned common sense and moral standing.

Syria, the backbone of the Resistance Axis, has effectively become a testing ground of Western brutality towards millions of Syrian civilians who have become victims of continued inhumane economic restrictions and Western-sponsored extreme violence via proxy terrorist organizations. For well over a decade, the world has remained silent and, for the most part, indifferent to the suffering of the Syrian population as the result of financial and economic sanctions imposed by the United States and the European Union. While these restrictions, including the extraordinarily brutal Caesar Act, failed to result in regime change in Syria (the U.S.’ ultimate goal) they continue to kill thousands of innocent civilians as the result of continued deprivation of vital necessities such as life-saving medications and food.

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As a ceasefire took effect in Lebanon, jihadists backed by the U.S. and Turkiye launched an offensive on the city of Aleppo to disrupt the supply lines of the Axis of Resistance as well as pursue the decade-long goal of toppling the government of President Bashar al-Assad.

The following day, President Bashar al-Assad traveled to Moscow for a working meeting with President Vladimir Putin with whom he discussed Russia’s support for Syria in its fight against terrorist organizations. For the first time since 2016, Russian warplanes are now bombing terrorists in the city of Aleppo.

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The so-called “rebels” or “opposition forces” (as Western media conveniently refers to them) are, in fact, an offshoot of al-Qaeda and are associated with Hayat Tahrir al-Sham (HTS), a Salafi-jihadist terrorist organization, led by Abu Mohammad al-Jolani, an affiliate of the founder of ISIS Abu Bakr al-Baghdadi. Abu Mohammad al-Jolani is the founder of Jabhat al-Nusra, the al-Qaeda affiliate in Syria.

HTS established a stronghold in northwestern Syria, with Idlib as its center.

Connect with Lena: YouTube | Rumble | Locals | Patreon | X | Telegram

Since 2011, the United States has been pursuing regime change in Syria via all means available, including hybrid warfare. Jake Sullivan infamously wrote in an email to Hillary Clinton in 2012: "Al Qaeda is on our side in Syria."

After implementing extraordinarily brutal and outright inhumane economic sanctions on Syria, Western allies have been continuously fueling the violence by funding and training terrorist organizations to destabilize Syria and other non-aligned regional actors.

In 2019, Syrian President Bashar al-Assad explained in an interview:

"When they [ the U.S.] sent their army into Iraq, they paid the price. It's much easier to send a proxy. Al Qaeda is a proxy. There is a war between the United States and the rest of the world. Syria is a microcosm of World War 3."

Col. Richard Black, Former Virginia State Senator, shared an excellent overview of U.S. foreign policy in the Middle East and its involvement in Syria since 2011:

• The Syrian war began in 2011 when the United States landed Central Intelligence operatives to begin coordinating with Al-Qaeda and other terrorist groups;

• We have been unwavering supporters of Al-Qaeda since before the war formally began;

• We are supporters of Al-Qaeda today where they’re bottled up in Idlib Province;

• The CIA supplied them under secret operation Timber Sycamore, providing the jihadists with anti-tank weapons and all of their anti-air missiles;

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As brutal videos of forced mobilization across Ukraine continue to spread online, Volodimir Zelensky and his Western masters are determined to continue fighting the unwinnable proxy war against Russia “to the last Ukrainian”: the United States has started to openly pressure Kyiv to, once again, lower the official conscription age. The West wants to send 18-year-old Ukrainians to the front lines as Russian forces advance and Senator Lindsay Graham is getting antsy that trillions of dollars worth of Ukrainian natural resources, primarily located in the Donbas and central Ukraine, will be under Russia’s control.

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In a recent interview on Fox News, U.S. Senator Lindsay Graham shamelessly admitted that the prolonged proxy war in Ukraine is just as much about trying to weaken Russia via Ukraine as it is about natural resources and, ultimately, money.

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Does the Federal Reserve want independence to serve the interests of the banker class? What role has the Federal Reserve played in US politics, and how does it enable the U.S. government's out-of-control spending? Why should the Fed be banned from purchasing assets?

I had a fascinating conversation with Ryan McMaken. Ryan is a U.S. economist and the executive editor at the Mises Institute. In his podcast, Loot & Lobby, Ryan focuses on the intersection of US politics and economics.

Ryan and I discussed whether the Trump administration would seek Jerome Powell's resignation, how the Fed has been enabling government spending on programs that do not benefit the American people, its role as a servant of the banker class, and, ultimately, whether the Federal Reserve should be abolished.

Ryan noted that we are living in a world where the “Fed is the economy” and we need to get away from that.

The video interview is available on:

▪️YouTube

▪️Rumble

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The development of Project mBRIDGE was initiated by China, Hong Kong, Thailand, and the UAE in 2021 through the Bank for International Settlements (BIS) Innovation Hub. The blockchain-based infrastructure has been crucial for the development of an alternative financial system that is expected to facilitate the BRICS+ bloc’s cross-border settlements in local currencies.

Recently the BIS top executive, Augusten Carstens, announced that the BIS, “the central bank for all central banks”, can no longer work with sanctioned countries. Thus, the BIS is shutting down Project mBRIDGE.

What does the BIS move to shut down the blockchain-based project mean for the BRICS+ bloc? Will it become a major setback in its process to develop a just, alternative financial settlement platform? What role will China assume in the development of mBRIDGE and other systems designed to transact in local currencies?

I had a very interesting conversation with Dr. Warwick Powell, an Adjunct Professor at Queensland University in Australia who is working at the intersection of digital technologies, supply chains, and global political economy & governance. Warwick and I discussed the functionality of mBRIDGE and why it is a significant project for the Global South, how the BIS shutting it down will impact the BRICS’ capabilities and future plans, what Brazil’s chairmanship in 2025 will bring for the association’s future, Lula’s absence at the 2024 Annual Summit in Kazan and more!

The video interview is available on:

▪️YouTube

▪️Rumble

▪️Patreon

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Here are some recommendations for what you might have missed this week.

🌏 Labor Market Meltdown: October Jobs Report Shows a -112,000 Revision to Prior Months as Hiring Halts

• October added 12,000 jobs (absolutely insignificant and likely to be revised)

• August was revised down by 81,000, from +159,000 to +78,000

• September was revised down by 31,000, from +254,000 to +223,000

🌏 42% Surge in Layoffs Signals US Labor Market Is Tanking

• The share of workers voluntarily quitting their jobs dropped to 1.9 percent in September, the lowest since the 2020 pandemic. Outside of the pandemic, this is the lowest level in 9 years and the largest decline since the 2008 Financial Crisis.

• The hiring rate decreased from 4.6 percent to 3.5 percent, the lowest since April 2020.

  

• There were 7.4 million job openings in the US in September, the lowest number of openings since January 2021

  

🌏 G7 vs. BRICS: EU's Disaster, Economic Decline & Political Crisis, Rise of Global South

I invited Prof. Steve Hanke for a conversation about the decline of the G7 and the rise of the Global South.

Dr. Hanke commented that the European Union’s collapse is largely driven by its biggest economy, Germany, sabotaging itself with the ban on imports of Russia’s natural resources that are vital for its industrial capacity as well as its short-sighted domestic and foreign policies. Dr. Hanke noted Germany is a “disaster” in the near term as its de-industrialization is just beginning. Further, we discussed the US uniparty system, political gain vs economic reason, and the role of natural resources in the rise of the global South. This is a must-watch interview for those interested in global economics.

🌏 Federal government continues to spend, spend, spend…

Government spending spiked 9.7 percent in Q3 2024 quarter over quarter.

Read more

I had an excellent and very insightful conversation with Dr. Steve Hanke, whom I invited back on the show to discuss the rise of the global South as economies of the G7 group are expected to continue their free fall.

The latest IMF forecast indicates that developing economies are expected to grow at a faster pace than those of the G7: the US forecasted economic growth is 2.7% compared to India’s 6.8%, Russia’s 3.2%, and China’s 4.6%.

When speaking about the global South, Dr. Hanke noted that many Latin American countries need a stable currency to achieve successful economic reforms and improve their standards of living. Outside of the BRICS+, Dr. Hanke said that the poorest countries in Latin America could benefit from introducing the dollar as a way to boost economic activity. However, he added that the US foreign policy is backfiring as the weaponization of the US dollar will continue to drive countries of the BRICS alliance away from the global reserve currency.

Thank you for being part of the community! Consider becoming a paid subscriber to support my work and to gain access to members-only content:

Subscribe now

Dr. Hanke commented that the European Union’s collapse is largely driven by its biggest economy, Germany, sabotaging itself with the ban on imports of Russia’s natural resources that are vital for its industrial capacity as well as short-sighted domestic and foreign policies. Dr. Hanke noted Germany is a “disaster” in the near term as its de-industrialization is just beginning.

Further, we discussed the US uniparty system, political gain vs economic reason, and the role of natural resources in the rise of the global South. This is a must-watch interview for those who are interested in learning more about global economics.

The video interview is available on:

• YouTube

• Rumble

• Patreon

Stay in Touch: YouTube | Rumble | Locals | Patreon | X | Telegram

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Here are some recommendations for what you might have missed this week.

🌏 Without a doubt, the biggest event of the week was the historic BRICS+ summit in Kazan, Russia.

I’ve covered the event extensively over the course of the week:

• I spoke to one of the leading economic experts on the BRICS bloc, Yaroslav Lissovolik, who personally attended events held in Moscow as part of the BRICS+ initiatives.

  Yaroslav discussed the BRICS+ blockchain-based payment platform and the role that the Bank for International Settlements plays in the process. In the interview, he highlighted the fact that it would be best for the bloc to use a basket of local currencies instead of a single currency due to associated risks. He noted that once the blockchain platform is launched, central banks of sovereign states would play an active role in managing the system and its capabilities within each state. I had a great time speaking with Yaroslav and learning more about the economic aspects of the alliance.

  Watch the interview with Yaroslav Lissovolik on YouTube or Rumble.

  

• The BRICS+ bloc issued a Declaration in Kazan. Read more about its key points here.

• The bloc announced admission of 13 new partners, indicating its plans to expand in the near future as the full members conduct further consultations with these new partner-states to determine whether they are ready to become full-members. I recorded a very detailed video about the new partners and related future prospects. Watch the video on YouTube or Rumble.

• One of the newly admitted members of the BRICS bloc, the United Arab Emirates, has become Russia’s biggest trade partner in the Middle East. The trade between the two states tripled since 2021. This is quite fascinating considering that just several years ago, similar examples of South-South cooperation were rare. Watch the video with more details on YouTube or Rumble.

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🌏 Clearly, the BRICS summit and the recent developments that indicate a global shift towards multipolarity has the State Department concerned.

State Department spokesman Vedant Patel:

"Undermining the role of the dollar and developing alternatives to SWIFT is a direct threat to democracy in the world."

🌏 This week the International Monetary Fund (finally!) shared an opinion on the policymakers’ obsession with protectionist measures.

“It’s a policy that is harming basically everyone,” Pierre-Olivier Gourinchas, the IMF’s top economist, said of the risk of higher trade barriers. “It’s harming the rest of the world. It’s harming the US.”

The IMF cautioned that if higher tariffs hit a “sizable portion” of world trade by mid-2025, it would wipe 0.8 percent from economic output next year and 1.3 percent in 2026.

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