Topic: American Banks

The concept of a North American Union (NAU) and a shared currency known as the "Amero" is revisited in light of current border policies. The discussion explores the theoretical economic merger of Canada, Mexico, and the United States, potentially utilizing a central bank digital coin to replace national currencies.

The host shares a personal anecdote about being blacklisted by American Express since 1988 and the decision to move to a local community bank. The show concludes with a reminder to support the "value for value" model.

Reports from Democracy Now! and the Institute on Taxation and Economic Policy highlight the role of the United States as a major tax haven. Mossack Fonseca reportedly set up over 1,000 shell companies within the U.S., with 600 located in Nevada. The analysis posits that major international banks, rather than individuals, are the primary clients of these offshore law firms.

Adam Curry explains why he avoids using his Dutch bank account for show donations despite the lack of fees in the Eurozone. He cites the heavy reporting requirements for American citizens holding foreign accounts, which often leads banks to close accounts to avoid the associated paperwork.

The American Jobs Act includes the creation of the American Infrastructure Financing Authority (AIFA), a government-backed investment bank. The legislation allows for projects with a "BBB minus" investment grade rating to receive federal financing, which is a lower standard than traditional high-grade investments. Loans for these projects feature 35-year repayment terms starting only after the substantial completion of construction.

Wolf Blitzer and CNN report on billions of US taxpayer dollars missing in Afghanistan due to a lack of oversight in the banking system. Senator Claire McCaskill notes that lessons from "pallets of cash" in Iraq have not been learned. The hosts contrast these missing billions with President Obama's rhetoric about the "American Dream" of just getting by.