Treasury Secretary Steve Mnuchin unveiled the biggest weapon the U.S. has in its arsenal against North Korea, and it’s not a bomb.
No bank in any country should be used to facilitate Kim Jong-un’s destructive behavior. This new executive order will authorize Treasury to impose a range of sanctions such as suspending U.S. correspondent account access to any foreign bank that knowingly conducts or facilitates significant transactions tied to trade with North Korea. These sanctions will be forward-looking and applied to behavior that occurs following today when President Trump signed the executive order. Foreign financial institutions are now on notice that going forward they can choose to do business with the United States or with North Korea, but not both. This new executive order enables Treasury to freeze assets of anyone conducting significant trade in goods, services or technology with North Korea. It also allows us to freeze assets of actors supporting North Korea’s textile, fishing, IT and manufacturing industries.
The target of this executive order, which is wholly legal and proper for the president to sign, is certainly China. China is North Korea’s biggest trading partner by far. It will hurt China far worse than anything we could do to North Korea. And China can force North Korea into starvation or negotiation.
While Beijing has joined the international community in condemning North Korea’s missile launches and nuclear tests, it doesn’t want a war on the Korean peninsula or Kim’s regime to collapse. Either event may trigger a rush of refugees and the potential for U.S. troops on its border, risking social unrest and a heightened security presence that could further hinder trade.
“The situation facing the Korean peninsula is complicated,” Foreign Ministry spokesman Lu Kang told a press conference in Beijing.
Lu said at the press conference that “China opposes the imposition of sanctions outside the framework of the United Nations Security Council”.
In his address at the assembly, China’s Foreign Minister Wang Yi said negotiation remained the only solution to the North Korea problem, while warning its neighbour not to pursue the development of nuclear weapons.
As long as goods can flow into and out of North Korea, all the military threats we make are simply saber-rattling. Kim Jong-un will continue to provoke until we back down from a potential holocaust for South Korea. This is what he’s done for decades. But if the U.S. truly punishes China with banking sanctions and assets freezes, just like we did to Iran, soon they will push North Korea to the table, or make it clear that the Hermit Kingdom is on its own taking on the U.S. in a military battle.
The money bomb is a much bigger weapon than anything our military possesses. History shows that it always has been (read your World War II history of Japan).
What the partial government shutdown reveals about American’s finances
The partial government shutdown has been going on for nearly a month, with no end in sight. About 800000 government workers, according to politicians, are essentially getting paid not to work, but their paychecks won’t come until after the partial shutdown is over. Politicians are using this plight to tug at the general public’s heartstrings in the direction of their agenda. However, every politician and almost every media outlet is ignoring truth, to avoid offending people.
The truth of the matter is: if a person doesn’t have enough money saved up for such a time as this, they suck with finances. If a family is woefully unprepared for an emergency situation, they suck with money. These are objective facts, even Biblical. However, I do not write this to shame those 800000 government workers. After all, the crocodile tears of politicians would be wholly ineffective, if the average American could not see the horror is a month’s wage deferred. American’s finances are in disarray to put it mildly. NBC News reported how majority of Americans are living paycheck to paycheck.
Though the parameters of what constitutes a livable wage varies greatly according to where you live, these staggering statistics show just how few of us have the means to make ends meet. Depending on where they live, even people who earn $100k per year say they’re living paycheck-to-paycheck, and 59 percent of people making that kind of money admitted to carrying debt. Of those 59 percent, 56 percent say they’re heavily in debt.
And that emergency stash of six month’s pay that experts keep saying we should put away? For more than half of us, it’s just not feasible. According to this survey, 56 percent of us can barely save $100 per month. All things considered, when you break it all down, most of us are just one misfortune away from financial oblivion.
Yet despite the woeful unpreparedness of most Americans to finance an emergency, Americans spend. We have the latest IPhone, subscribe to Amazon Prime, have $200 doorbells on our homes, dine at fast casual restaurants, and drink Starbucks. And despite mandatory financial literacy classes in many schools, we push young people to pursue a six figure education. A recent survey done by YCharts found that nearly two-thirds of millennials aged 22 to 37 believed that they would have seven-figure wealth by the age of 45 or sooner. While seemingly outlandish, this study presented a more optimistic view of the generation’s finances than one might expect. Though with similar spending habits as Gen Xers, it’s overoptimistic to think this generation doesn’t overspend.
We often joke about Congress not balancing the budget like normal people run their finances. Yet in a country and culture of fiscal irresponsibility, it should be unsurprising, though disappointing, that there’s 21 trillion dollars worth of debt.
A reminder to GOP lawmakers from Justin Amash
When Representative Justin Amash (R-MI) hadn’t been in Washington DC for very long when he said this amazing quote. At the time, many weren’t paying much attention. After all, many Republicans say similar things when they get to DC, but over time they become jaded, corrupted, or start to get used to being in the DC Country Club.
Amash is different. He has remained consistent with his message and views throughout his career. Now, it’s time for other Republicans to remember what they were sent to Washington DC to do in the first place. Defense of the Constitution is their top priority as it’s the best protection against a government that wants desperately to control every aspect of our lives. From healthcare to the internet to how we use our energy, government intervention has become so commonplace, it’s often hard to see the fabric of our nation behind all the layers of bureaucracy that has been placed on top of it.
“I follow a set of principles, I follow the Constitution. And that’s what I base my votes on. Limited government, economic freedom and individual liberty.”
If more Republicans followed the same principles and didn’t just use them in campaign speeches, we may actually be able to return liberties that have been taken and remove layers of government that have been formed unnecessarily.
Larry Elder, Sean Hannity discuss the shutdown
Radio host Larry Elder joined Sean Hannity on Fox News tonight to break down the government shutdown. Elder pointed out that President Obama was being urged by advisers, including Rahm Emmanuel, to abandon Obamacare, but Nancy Pelosi urged him to go big or go home.
Later, they discussed the Speaker of the House’s refusal to meet with Angel Moms. Elder asked what she would say to them. Hannity said she should have given them condolences for their losses.
The talking heads on Fox News keep repeating the same narratives, but it’s not working. This is an example of mainstream media playing to the base by repeating the narrative for cheers from the crowd but failing to present better information the Republican base can use to argue for the border wall.
Many on the right, particularly in media, are failing to make a compelling case for the wall. They need to adjust their talking points if they really want their audience to help sell the idea to the rest of America.
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