This is one of those conversations that hints around the edges of what the collapse of globalism actually entails.  As noted in the beginning of the WEF panel discussion by Christine Legarde, the construct of global economics was built upon a foundation of interdependent trade dependencies.  If nations are no longer reliant upon other nations for sourcing of goods and services, the global construct of banking and finance then begins to collapse.

Globalism in its economic construct is a series of dependencies. If those dependencies are severed, if each country has the ability to feed, produce and innovate independently, then the entire dependency model around globalism collapses.

Within the globalism model that was historically created there was a group of people, western nations, banks, finance and various government leaders, who controlled the organization and rules of the trade dependencies.  The action being taken for self-sufficiency, in combination with the approach promoted by President Trump that each nation state should generate their own needs, then the rules-based order that has existed for global trade will collapse.

If nations are no longer dependent, they become sovereign – able to exist without the need for support from other nations and systems. If nations are indeed sovereign, then globalism is no longer needed and a threat of the unknown rises. How will nations engage with each other if there is no governing body of western elites to make the rules for engagement?  The need for control is a reaction to fear, and it is the fear of self-reliance that permeates the elitist class within the control structures.

Global trade is now beyond goods and services and into the world of automated artificial intelligence. Legarde notes the tech sector wants/needs access to more global data in order to create the control systems of tomorrow. However, again the problem arises when sovereign nations refuse to dump their independent data into the bucket of data dependency.

If each nation of the world is operating according to its individual best interests, the position of Donald Trump, then what happens to the governing elite who set up the system of interdependencies. This is the core of their fear.

If each nation can suddenly grow tea, what happens to the East India Tea Company.  Who then sets the price for the tea, and worse still an entire distribution system (ships, ports, exchanges, banks, etc.) becomes functionally obsolescent.

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Yes, at the introduction to President Trump the business assembly of WEF leadership they actually thanked Trump and said President Trump has forced the assembly to stop pretending.  It must be the art of the deal, folks.

Following the introduction President Trump told the assembly of business leaders there was no need to repeat his prepared remarks and instead spoke off-the-cuff, giving thanks and praise to the audience specific to his intents and purposes.  During his impromptu remarks President Trump highlighted leadership in the audience and drew attention to their organizations and business interests. WATCH:

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A large U.S. delegation, including Secretary of State Marco Rubio are traveling with President Trump tonight to Davos.  Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, U.S. Trade Representative Jamieson Greer and all of the key members of the cabinet are already there.

According to the official WEF schedule, President Donald Trump’s address is in the mid‑afternoon Wednesday January 21, with the Davos session set for 2:30 to 3:15 p.m. local time (8:30 to 9:15 a.m. ET).

The entire world will be watching this speech considering the geopolitical events of the past year, the current trajectory of global relationships that has been scrambled by President Trump, and anticipation of this moment being the inflection point in Western political history.

On the tech side, all of the information bots under the control of Canada, the U.K, Australia and the global intelligence apparatus will be turned on to control and shape internet opinion of President Trump’s speech.  The need for control is a reaction to fear. Do not discount the stakes at play; this is beyond the trillions – this is everything.  For the opposition to President Trump this is a zero-sum conflict.

Secretary of Treasury Scott Bessent held a press conference earlier today to absorb and address some of the key questions from the international media assembly (SEE BELOW).  Combined with feedback from Secretary Lutnick and USTR Greer, the speech content is being finalized on the flight between President Trump and Secretary Rubio.

Trump’s Davos schedule, via the White House. Depart DC Tuesday evening

Wednesday in Davos:
2:10 PM – 8:10 am ET – Greets WEF leadership
2:30 PM – 8:30 am ET – Delivers his Davos speech
3:45 PM – 9:45 am ET – Bilats and meetings
5:25 PM – 11:25 am ET – Business reception

Thursday
10:30 AM – 4:30 am ET – Board of Peace Charter Announcement

Then back home.

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National Economic Council Director Kevin Hassett appears on CNBC to discuss the current status of the Trump economy.  Obviously, the first question to Hassett surrounds the announcement by Fed Chairman Jerome Powell that he is under a grand jury investigation.

Director Hassett rightly notes the DOJ is independently investigating the issues of Powell as a result of both a Senate Banking Committee (Tim Scott) and House criminal referral for misleading and false testimony related to the construction of the FED building in Washington DC.  Both the decisions by the Federal Reserve and the Dept of Justice are not outcomes of President Trump’s decision making.  Secondly, Hassett is considered a candidate to replace Powell in May, so it would be inappropriate for him to make any comments.  WATCH:

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Regardless of how you feel about the Federal Reserve Board, I think we would all agree the construct of an autonomous central bank is outside the boundaries of our constitutional framework.  Factually, the Sea Island financial group set up the Federal Reserve as a system of control over the U.S. economy that was completely unnecessary.

That same ultra-constitutional mindset of omnipotent power permeates the recent statements by FED Chair Jerome Powell, who now attempts to evade a Dept of Justice investigation by hiding behind the ruse of his non-elected office.

Last year, facing ridiculous cost overruns, Congress questioned Powell over the insane spending proposal by Powell for a new office building.  Chairman Powell characterized the construction changes, that escalated the cost of the project from $1.9 billion to $2.5 billion, as ‘minor modifications.’  That’s $2.5 billions of taxpayer money.

A referral to the Dept of Justice was made [SEE HERE] following Powell’s testimony.  Things got ugly quickly when President Trump, a builder and renovator himself, took exception with the scale and scope of the ridiculous spending plan.

In an effort to both use his office as a defense, and simultaneously weaponize the power of his position, Jerome Powell waits until Sunday evening to announce he is being investigated by the DOJ [SEE HERE], and then he claims it is political targeting.

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[Transcript] – “Good evening.

On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June. That testimony concerned in part a multi-year project to renovate historic Federal Reserve office buildings.

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It appears that Minnesota Governor Tim Walz is about to discover what happens when you anger the Treasury Secretary, who happens to be the IRS Commissioner.   WATCH (Prompted):

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Details are scant, and I’m not exactly sure how this would work, but President Trump has proposed a one-year freeze on credit card rates at 10%.

[SOURCE]

As noted by Politico, previous “legislation sponsored by Sen. Bernie Sanders (I-Vt.) and cosponsored by Sen. Josh Hawley (R-Mo.) would impose a 10 percent cap on credit card rates for five years. Similar legislation has been introduced in the House.”  Yet, unilateral authority by a President does not seem evident.

If anyone has any information on how this could be accomplished, feel free to share. I’m not sure how this can be done.

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Treasury Secretary Scott Bessent is leading the charge to focus on Minneapolis, Minnesota Somali fraud rings for targeted regional actions.  The IRS Criminal Investigations division has been dispatched to focus on the Minneapolis region to identify fraudulent use of public assistance services, combined with the abuse of federal taxpayer funds.

In a remarkable approach, Secretary Bessent announced during a Fox News interview that a regional targeting effort is now underway that will block anyone who receives public assistance from sending money overseas (remittances to foreign countries).  This is not a fee or tax on the remittance, or financial transaction; this is a complete block of their ability to send money overseas.  Anyone receiving public assistance will not be able to send money to foreign lands.

Yes, it seems like this is initially going to be subject to the honest admission of the money sender. However, with the IRS reviewing each transfer and cross referencing to public assistance records anyone who attempts to work around this regulation will be subject to federal laws on financial fraud, wire service fraud and potentially money laundering.  WATCH:

The interagency focus will eventually go nationwide, as with the new USAO position that focuses on public assistance fraud; but for now, that focused effort will target Minnesota.   Minneapolis will be the beta test for a national rollout.

All of the money service businesses in the region will now be reviewed and all financial transactions of $3,000 will be required to have an accompanying Suspicious Activity Report (SAR).  With DHS, FBI and now IRS investigators focused exclusively on the two counties involved in the Somali fraud rings, the fraudsters will be identified and prosecuted.

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Prior to the discovery of rampant fraud in Minnesota, Treasury Secretary Scott Bessent was already scheduled to deliver remarks to the Economic Club of Minnesota. Treasury Secretary Bessent is also the Acting IRS Commissioner, which gives him a very unique position from which to review and discuss the explosive issues of fraud within the state.

This is a MUST WATCH video in totality to understand exactly what Secretary Bessent is focused on.

Secretary Bessent begins visit by delivering prepared remarks to the audience outlining the success in President Trump’s economic policy approach, giving specific examples of granular policy accomplishments and what they mean to the average American. Secretary Bessent then sits down for a question-and-answer session where he drills into the issue of the fraud within the Minneapolis, Minnesota region.

Regarding the Somali fraud issue, Bessent notes the IRS Criminal Investigations department are leading the charge to identify the specific individuals and larger network groups within the region who will be held to account.  In the bigger picture roughly 10% of all government spending has been identified by the General Accounting Office as fraud.  This is a really good overall review of the current approach being taken by the Trump administration. WATCH:

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Representative Kristin Robbins claims there are multiple millions in assisted living program fraud, while highlighting failures in basic internal controls and ongoing payments indicted individuals. Federal Education Secretary Linda McMahon, House Speaker Lisa Demuth, and Rep. Robbins have all urged Minnesota Gov. Tim Walz to step down.

Governor Walz says he accepts accountability; however, he blames pre-existing vulnerabilities and pandemic-era program expansion. Walz now claims his reforms will include tighter provider screening, enhanced audits, and cooperation with federal prosecutors. [SOURCES] All of this is happening as the scale of the fraud is yet to be fully identified.

MORE FRAUD 🚨 immigrants from Somalia have been buying homes in Minnesota, paying cash and saying they’re being used as “home healthcare”

The state isn’t checking on the homes, many sit empty and are billed to the state for services. Making millions every year

Minnesota realtor… pic.twitter.com/fvMqxMwoD2

— Wall Street Apes (@WallStreetApes) December 23, 2025

I’m curious if this widespread issue of Somali immigrant fraud is the reason why Tim Walz was selected by Kamala Harris to be her VP candidate in 2024.

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