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Join Us at the World Economic Conference in Orlando, Florida! Nov. 17-19, 2023

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Join Us at the 2023 World Economic Conference in Orlando, Florida!

? Dates: November 17, 18, and 19 ? Location: Orlando, Florida, USA (or tune in from home with our virtual ticket options)

Are you ready to unlock the future of economics and finance? Prepare for an unforgettable World Economic Conference experience in sunny Orlando, Florida! This premier event is your gateway to insights, networking, and valuable resources that will supercharge your understanding of the global economy.

?️ What’s Included for In-Person Attendees:

  1. Event Admission: Enjoy reserved seating assigned based on the order of ticket sales, ensuring you have a prime view of every presentation.
  2. Presentation Slides: Gain access to the presentation slides from all speakers, allowing you to delve deeper into the topics discussed.
  3. Video Recording: Can’t make it to a session? No worries! You’ll receive access to video recordings of all conference presentations, so you can catch up at your convenience.
  4. WEC Event App: Connect with the conference on a whole new level. Access presentation slides, bonus reports, recordings, and more via the official WEC Event App.
  5. Bonus Conference Materials: Get a package of bonus conference-related materials, including exclusive bonus reports and videos (as provided by Martin Armstrong).
  6. Morning Information Sessions: Don’t miss out on important morning information sessions, screened on-site in the meeting room on Saturday and Sunday.
  7. Networking Opportunities: Exclusive access to the Event App Networking Feature allows you to connect with fellow attendees, both in-person and virtual, fostering valuable professional relationships.
  8. Culinary Delights: Savor delicious breakfast and lunch on Saturday and Sunday, prepared to keep you energized throughout the day.
  9. Cocktail Reception: Kick off the conference in style at our Friday evening cocktail reception. Meet and mingle with fellow attendees while enjoying refreshing drinks.
  10. Swag Bag: As a token of our appreciation, each in-person attendee will receive a swag bag filled with goodies, including an Armstrong Economics notebook, pen, and an event collector’s mug!

Unable to travel? We also have two different ticket options for those wishing to attend virtually! 

Don’t miss this opportunity to be part of a global gathering of economic and financial minds. Secure your spot at the World Economic Conference in Orlando, Florida, and gain the knowledge, connections, and resources you need to thrive in the world of finance and economics.

Space is limited, so act now and reserve your seat! Visit our Events page to register and join us in sunny Orlando this November.

NEW BOOK Now Available : "Mark Antony & Cleopatra"

Mark Antony Cleopatra Cleopatra Proxy War

Now available at all major retailers!

The eBook will be available shortly.

"THE PLOT TO SEIZE RUSSIA - THE UNTOLD HISTORY"

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The second edition of “The Plot to Seize Russia – The Untold History” is now available for purchase in paperback and hardcover on Amazon and Barnes and Noble. The ebook will be available shortly.

Book description:

“Take care of Russia,” Boris Yeltsin said as he departed his presidency in August 1999. These words were directed at current Russian president, Vladimir Putin. Yeltsin specifically picked Putin as his predecessor to prevent the takeover of Russia.

So, who was Yeltsin warning against? Newly declassified documents from the Clinton Administration prove that there was a plot to rig the Russian election of 2000. These never-before-seen documents confirm numerous attempts to implement pro-Western policies using the Russian oligarchy headed by Boris Berezovsky.

On the other side were the communists who desired a return to the glory days of the Soviet Union. As one of the largest international hedge fund managers, author Martin Armstrong found himself in the middle of perhaps the greatest espionage, or attempt at a regime change for Russia, in modern history.

The Plot to Seize Russia pulls back the curtain to expose the most extraordinary attempt to seize power in modern history, but with the pen rather than armies. These declassified documents reveal a plot that has altered our thinking about the relations between the United States and Russia. The thirst for power comes seething through every line of these papers that alter our perception of reality, change the course of history, and now threaten us with World War III.

Market Talk – November 6, 2025

Market Talk 2017

ASIA:
The major Asian stock markets had a mixed day today:
• NIKKEI 225 increased 671.41 points or 1.34% to 50,883.68
• Shanghai increased 38.512 points or 0.97% to 4,007.76
• Hang Seng increased 550.49 points or 2.12% to 26,485.90
• ASX 200 increased 26.30 points or 0.30% to 8,828.30
• SENSEX decreased 148.14 points or -0.18% to 83,311.01
• Nifty50 decreased 87.95 points or -0.34% to 25,509.70
The major Asian currency markets had a negative day today:
• AUDUSD decreased 0.00288 or -0.44% to 0.64760
• NZDUSD decreased 0.00267 or -0.47% to 0.56333
• USDJPY decreased 1.186 or -0.77% to 152.937
• USDCNY decreased 0.00959 or -0.13% to 7.12156
The above data was collected around 12:46 EST.
Precious Metals:
• Gold increased 2.32 USD/t oz. or 0.06% to 3,982.52
• Silver increased 0.004 USD/t. oz. or 0.01% to 47.974
The above data was collected around 12:47 EST.
EUROPE/EMEA:
The major Europe stock markets had a negative day today:
• CAC 40 decreased 109.46 points or -1.36% to 7,964.77
• FTSE 100 decreased 41.30 points or -0.42% to 9,735.78
• DAX 30 decreased 315.72 points or -1.31% to 23,734.02
The major Europe currency markets had a mixed day today:
• EURUSD increased 0.00468 or 0.41% to 1.15392
• GBPUSD increased 0.00729 or 0.56% to 1.31233
• USDCHF decreased 0.00282 or -0.35% to 0.80732
The above data was collected around 12:54 EST.
US/AMERICAS:

US Market Closings:

  • Dow declined by 398.70 points (-0.84%) to 46,912.30

  • S&P 500 declined by 75.97 points (-1.12%) to 6,720.32

  • NASDAQ declined by 445.81 points (-1.90%) to 23,053.99

  • Russell 2000 declined by 45.95 points (-1.86%) to 2,418.83

  • VIX rose by 1.49 points (+8.27%) to 19.50

Canada Market Closings:

  • TSX Composite declined by 234.89 points (-0.78%) to 29,868.59

  • TSX 60 declined by 14.53 points (-0.82%) to 1,761.60

Brazil Market Closing:

  • Bovespa advanced by 249.02 points (+0.16%) to 153,543.46

The oil markets had a mixed day today:
• Crude Oil decreased 0.29 USD/BBL or -0.49% to 59.310
• Brent decreased 0.264 USD/BBL or -0.42% to 63.256
• Natural gas increased 0.027 USD/MMBtu or 0.64% to 4.2590
• Gasoline increased 0.0386 USD/GAL or 2.02% to 1.9508
• Heating oil increased 0.0586 USD/GAL or 2.41% to 2.4911
The above data was collected around 13:00 EST.
• Top commodity gainers: Gasoline (2.02%), Heating Oil (2.41%), Rice (1.08%) and Palm Oil (0.97%)
• Top commodity losers: Orange Juice (-12.93%), Coffee (-4.37%), Wheat (-3.15%) and Cocoa (-3.54%)
The above data was collected around 13:08 EST.
BONDS:
Japan 1.6840% (+1.72bp), US 2’s 3.57% (-0.070%), US 10’s 4.0880% (-7.2bps); US 30’s 4.69 (-0.055%), Bunds 2.6609% (-1.14bp), France 3.444% (-1.65bp), Italy 3.4180% (-0.74bp), Turkey 29.85% (+1bp), Greece 3.319% (+0.5bp), Portugal 3.024% (-3.7bp); Spain 3.176% (-0.7bp) and UK Gilts 4.4380% (-2.66bp)
The above data was collected around 13:12 EST.

Norway to Send $7 Billion to Ukraine – Everyone is Sending Funds Ahead of 2026

Zelensky with EU leaders

Norway is providing Ukraine with an additional $7 billion in 2026, or an astounding 1.23% of GDP. Norwegian Defense Minister Tore O. Sandvik invited Ukrainian Prime Minister Denys Shmyhal to participate for the first time in the Joint Expeditionary Force (JEF) meeting. The two sides signed a memorandum to establish joint defense manufacturing in Ukraine, and a subsequent memorandum to establish unified quality standards for such products.

Norway is building defense industry links with Ukraine and positioning itself as a major player in the European/NATO frameworks. Norway gave Ukraine the green light for free trade back in April 2025. The Norwegian government already poured $15 billion into Ukraine since the start of the war in 2022, but nothing among governments is charity.

All European leaders believe Ukraine has a chance of winning this war, with those at the top believing it will provide them with access to the riches of Russia. Governments are broken beyond repair. The belief in Brussels if that sovereign debt defaults could be avoided through raiding Russia and profiting on the ongoing war.

Norway’s long-term Nansen Support Programme framework envisages providing a total of 275 billion kroner (about $27 billion) in aid to Ukraine for the period 2023-2030. The nation believes it can rebuild Ukraine through green initiatives, collaborating with Nordic Environmental Finance Corporation (Nefco) to provide Ukraine 25.5 million euros in green infrastructure projects. Nefco had already been operating in Ukraine for 20 years, but managed to mobilize 400 million euros since 2022 for, or through, Ukraine.

European economies bet it all on Ukraine. Joint ventures within Ukraine, defense production that depends on a prolonged war, and rapidly expanding reconstruction funds. Germany offered an additional $3.45 billion this week. NATO also announced a massive $60 billion package to Ukraine, or half of Ukraine’s defense spending budget for the year ahead. Most of this funding is supposed to hit Ukraine in 2026—precisely when the computer is predicting a global event unlike anything I have seen.

NYC Falls Under Socialist Control

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Democratic Socialist Zohran Mamdani, 34, secured the first job of his career this Tuesday when he was elected as the mayor of New York City. The computer had predicted the beginning of a massive downturn in NYC beginning in 2026, as well as an increased political divide in the United States. The right and left could not be further apart in thought. Their ideologies are no longer compatible to exist in any bipartisan form and will eventually divide.

Mamdani offered the public a government-subsidized life. FREE child care, transportation, rent control, and more—vote for me and you’ll live for free. The Ugandan native told the people who are grappling with the current cost-of-living crisis that their woes were the result of greed. Basic economics is not taught in American education systems, and the average person does not understand capitalism, free trade, inflation—in all honesty, over half the nation is extremely uneducated. In factaround 54% of US adults currently read below a sixth-grade level, and 21% are functionally illiterate.

Socialism Capitalism

Zohran offered a solution to the cost-of-living crisis that is entirely illogical, but the masses understand his proposal. The rich and “whiter neighborhoods,” a direct quote from Mamdani, have been disproportionately hoarding wealth from the masses, and the government can fix this problem by redistributing wealth and placing restrictions on capitalism. Landlords should not profit from their tenants. City-run grocery stores will somehow bypass food inflation and supply chain constraints. Police agencies can be defunded, and crime will decrease if they simply lower the number of arrests. The masses of uneducated voters believe that these quick fixes will lead to easier lives.

US Divided

The people of NYC are in for a rude awakening. Socialistic policies historically fail. There is no example in the history of the modern world where a socialist nation thrived. Capital is fleeing New York City and is unlikely to return. The White House has announced that it will reduce federal funding for the city. Mamdani immediately took a jab at the president in his victory speech. “Donald Trump, since I know you’re watching, I have four words for you: turn the volume up!” Mamdani mocked. “If anyone can show a nation betrayed by Donald Trump how to defeat him, it is the city that gave rise to him. In this moment of political darkness, New York will be the light. And if there is any way to terrify a despot, it is by dismantling the very conditions that allowed him to accumulate power. This is not only how we stop Trump, it’s how we stop the next one.”

It is unusual for the mayor of a major American city to use his victory speech as a platform to initiate a political war against the White House.

This is the beginning of a contagion—the left vs the right, small government vs big government, capitalism vs socialism. US citizens began shuffling to red or blue states during the pandemic when the differences became blatantly apparent. Now, businesses are reshuffling, and therefore, so is capital. Red and blue states will continue to operate drastically differently in the years to come. Washington will not be able to govern two opposing sides. The division of the United States is underway.

Federal Judge Overrules E.O. Requiring Voter ID

Voting Machine

US District Judge Colleen Kollar-Kotelly ruled that it is unconstitutional to require voters to show proof of citizenship. Donald Trump demanded that only citizens vote in US elections and signed an executive order in March to ensure a federal ID is required to vote. Democrats sued Trump for infringing on voters’ rights. Kollar-Kotelly ruled that states may decide how to monitor the integrity of elections. “Because our Constitution assigns responsibility for election regulation to the States and to Congress, this Court holds that the President lacks the authority to direct such changes,” Kollar-Kotelly wrote in her opinion.

It remains unclear how this ruling is a victory for “voters’ rights.” Proof of citizenship must be required for countless activities, none of which are as important as voting. The federal government cannot step in and supersede state law. The issue with bringing this to the state level is that we have two polar opposite mindsets in charge. One side is paying for expensive audits to expel noncitizens from voter rolls. The other side is not concerned that noncitizens have been registered to vote in US elections. That same side believed that Americans needed to show proof of vaccination to enter public spaces a few years ago, but proving citizenship at the polls is far too intrusive.

Yet another example of the left and right divide. Lower courts have challenged every single ruling by Donald Trump. One must wonder why securing elections is seen as a threat to democracy. Supporters claim that the Constitution already forbids noncitizens from voting, which is true, but many have wound up on voter registration lists. Congress has ignored this issue for one simple reason—the Democrats would easily secure the vote if noncitizens found a way to vote.

Market Talk – November 5, 2025

Market Talk 2017

ASIA:
The major Asian stock markets had a mixed day today:
• NIKKEI 225 decreased 1,284.93 points or -2.50% to 50,212.27
• Shanghai increased 9.062 points or 0.23% to 3,969.248
• Hang Seng decreased 16.99 points or -0.07% to 25,935.41
• ASX 200 decreased 11.70 points or -0.13% to 8,802.00
• SENSEX closed
• Nifty50 closed
The major Asian currency markets had a mixed day today:
• AUDUSD increased 0.00182 or 0.28% to 0.65074
• NZDUSD increased 0.00015 or 0.03% to 0.56615
• USDJPY increased 0.423 or 0.28% to 154.087
• USDCNY decreased 0.00317 or -0.04% to 7.13157
The above data was collected around 13:47 EST.
Precious Metals:
• Gold increased 48.95 USD/t oz. or 1.24% to 3,981.10
• Silver increased 1 USD/t. oz. or 2.12% to 48.160
The above data was collected around 13:48 EST.
EUROPE/EMEA:
The major Europe stock markets had a green day today:
• CAC 40 increased 6.70 points or 0.08% to 8,074.23
• FTSE 100 increased 62.12 points or 0.64% to 9,777.08
• DAX 30 increased 100.63 points or 0.42% to 24,049.74
The major Europe currency markets had a mixed day today:
• EURUSD decreased 0.00021 or -0.02% to 1.14800
• GBPUSD increased 0.00221 or 0.17% to 1.30429
• USDCHF increased 0.00023 or 0.03% to 0.81089
The above data was collected around 13:57 EST.
US/AMERICAS:

US Market Closings:

  • Dow advanced by 225.76 points (+0.48%) to 47,311.00

  • S&P 500 advanced by 24.74 points (+0.37%) to 6,796.29

  • NASDAQ advanced by 151.16 points (+0.65%) to 23,499.80

  • Russell 2000 advanced by 37.44 points (+1.54%) to 2,464.78

  • VIX declined by 0.99 points (-5.21%) to 18.01

Canada Market Closings:

  • TSX Composite advanced by 325.66 points (+1.09%) to 30,103.48

  • TSX 60 advanced by 18.20 points (+1.04%) to 1,776.13

Brazil Market Closing:

  • Bovespa advanced by 2,743.39 points (+1.82%) to 153,447.59

ENERGY:
The oil markets had a negative day today:
• Crude Oil decreased 0.767 USD/BBL or -1.27% to 59.793
• Brent decreased 0.757 USD/BBL or -1.17% to 63.683
• Natural gas decreased 0.0995 USD/MMBtu or -2.29% to 4.2435
• Gasoline decreased 0.0084 USD/GAL or -0.44% to 1.9080
• Heating oil decreased 0.0049 USD/GAL or -0.20% to 2.4397
The above data was collected around 14:00 EST.
• Top commodity gainers: Silver (2.12%), Coffee (2.62%), Platinum (2.03%) and Palladium (2.93%)
• Top commodity losers: Orange Juice (-2.73%), Cocoa (-4.09%), Live Cattle (-3.18%) and Feeder Cattle (-2.55%)
The above data was collected around 14:06 EST.
BONDS:
Japan 1.6670% (-0.94bp), US 2’s 3.64% (+0.050%), US 10’s 4.1590% (+7bps); US 30’s 4.74 (+0.068%), Bunds 2.6767% (+2.49bp), France 3.4584% (+2.14bp), Italy 3.4272% (+2.63bp), Turkey 32.02% (+218bp), Greece 3.314% (+2.3bp), Portugal 3.061% (+2bp); Spain 3.181% (+2.4bp) and UK Gilts 4.4650% (+3.6bp)
The above data was collected around 14:10 EST.

Pelosi Finally Leaving the Swamp

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Nancy Pelosi, 86, is preparing to exit Washington—don’t let the door hit you on the way out! Pelosi is a prime example of a career politician who uses the guise of public service as a self-serving career for power and fortune.

First elected in 1987, Pelosi has spent her entire career treading in the swamp. She began volunteering for the California Democratic Party in 1962 after graduating college. In 2001, she joined the House Democratic Caucus, by 2003, she became the minority leader, and in 2007, she became the first female Speaker of the House. Pelosi has never lost an election, nor does she have any experience outside of politics.

Nancy Pelosi has accumulated a $240 million fortune through blatant inside trading. Microsoft, Google, Amazon, Nvidia, among others—when the government is making moves, her “husband” just so happens to make lucky trades ahead of the news. Her current salary is $174,000, previously $223,500, and she will earn a $139,000 annual pension upon retirement. Naturally, she will still have those inside sources and continue to grow her wealth.

In the past decade, Pelosi’s inside trading has generated an 816% return. She has outperformed the S&P 500 by 559 percentage points. Her portfolio grew 71% in 2024 alone. This is all par for the course, as countless other public servants have amassed a fortune through high-value inside trading.

Progressive members of the Democratic Party have been pushing Pelosi out. The younger generation is more socialistic and less willing to openly generate wealth through backroom deals. Although she has not officially declared retirement, Pelosi is 86 years old and facing numerous health issues. The Democratic Party is separating in a massive way, becoming a national embarrassment. She has nothing to lose by sliding away from the swamp now, especially is Prop 50 passes in California and provides the Democrats more leverage in the elections by redrawing congressional district maps.

US Manufacturing Declines for Eight Consecutive Month

manufacturing man 1

US manufacturing turned down in October on the PMI index, dropping from 49.1 in September to 48.7 in October, marking the eighth consecutive month of contraction. Price pressure may have eased (58 from 61.9), but production (48.2 from 51), inventory (45.8 from 47.7), and deliveries (54.2 from 52.6) have all declined.

Employment in the sector continued to decline (46 from 45.3), and 67% of panelist noted that companies are working on managing their current workforce rather than hiring. Again, lower rates are unlikely to address this structural problem or encourage companies to expand during a contracting business environment. Eight consecutive months of decline should be a warning as manufacturing declines often precede recessions, or in this case, ongoing stagflation.

Tariffs may be harming new orders and exports, but US manufacturing has been on the downswing far longer than April 2025. There are deeper structural forces at play from regulatory burdens to high corporate taxes and supply chain stress, but most notably, other countries are not interested in buying. Everyone is grappling with their own debt burdens and the global economy, not merely the US, has been contracting overall.

Manufacturing is not driving the US economy. The current administration has been keen on expanding the sector but orders are down and this has proven to be more than a temporary drop. Capital is fleeing to non-traditional assets as confidence in the established economic framework continues to decline.

Dick Cheney is Dead – Thank God!

1 Dick Cheney

George W. Bush Jr. called the politician’s passing “a loss to the nation and a sorrow to his friends.” Bush was just the patsy, and obviously, he is still in the dark that Dick Cheney was the warmongering President, not Bush. Cheney just loved war. During the 2024 presidential election when he declared now-President Donald Trump a threat to the republic and endorsed Democrat Kamala Harris who would be the patsy to allow the Neocons to continue to run the White House. These people have no problem sending other people’s children to die for the personal hatred and ambitions.

Louis XIV War

AT least King Louis XIV lament on his deathbed: “I have been too fond of war.” Those are words you will NEVER hear come from the lips of a Neocon. His daughter carries on his tradition of hatred.

 

Operation Arctic Frost — BIDEN’S WATERGATE

Paranoia surrounding the security of Joe Biden’s presidency reverberated throughout the US intelligence agencies. Questioning the results of the 2020 Presidential Election was seen as a direct threat to Biden’s power, resulting in Operation Arctic Frost—a secret  spying campaign carried out against the “Biden administration enemies list.”

Former Special Counsel Jack Smith led an investigation that resulted in 197 subpoenas to 34 individuals and 163 businesses. Over 430 Republicans were labeled as “enemies” by Biden’s Justice Department and placed under intense surveillance. The FBI and Department of Justice conducted Operation Arctic Frost to gather intelligence on anyone who dared to speak out against the Democrats.

Questioning the results of an election is not a crime, protected under the First Amendment of the US Constitution. Creating false documents to demonize one’s opponent as a foreign government shill, as was done by those responsible for the Stelle Dossier, is also unpunishable. Yet, the weaponized DOJ under Biden was permitted to carry out Stasi-level spying campaigns against anyone who opposed Joe Biden.

Surveilence

It is well-known that Donald Trump was under intense surveillance. His personal residence was raided under false pretenses during one of countless attempts to indict him before the 2024 election. Smith’s offensive attack attempted to take down hundreds of others.

Several banks were asked to provide US intelligence agencies with data on donor analytics. The government demanded that banks detail who was funding the GOP. Phone companies like Verizon and AT&T were shaken down and required to turn over all communications from GOP Senate offices and various individuals. AT&T, for example, refused to permit intelligence agencies to tap Senator Ted Cruz’s personal and business phone lines. Obama-appointed Jude James Boasberg then legally prohibited AT&T from disclosing that the information was requested. Boasberg ruled that these phone companies would be found guilty of “destruction of evidence” if they notified the targeted lawmakers of the subpoenas. In fact, phone carriers were asked to hand over personal data on nearly a quarter of all Senate Republicans.

Fox News, CBS, Fox Business, Sinclair, and Newsmax were subpoenaed and ordered to turn over all communications records. Charlie Kirk’s Turning Point USA was targeted as the FBI and DOJ needed to know the group’s financial activity, transactions, and all communications. The Republican Attorneys General Association (RAGA) was subpoenaed, as was Event Strategies, Inc. Apple Inc was subpoenaed for all Trump-related communications and January 6 prison choir records.

Trump’s most prominent advisors lost all privacy and were placed under careful watch. Anyone associated with Donald Trump was targeted as a criminal. “It exposes every call we made, who, every call coming into us, and every call that we place going out. So it also exposes all of that information. And why they did it is what we want to know. And then, in addition to phone numbers and trolling our tolls, did they also go after content and data?” Senator Marsha Blackburn (R-Tenn) told reporters, adding that Smith must be disbarred.

“Jack Smith did not act alone. Yes, he was a special counsel. He was appointed by Merrick Garland, and he had responsibilities to report to Merrick Garland, the attorney general, Joe Biden’s attorney general, under the rules regarding special counsel. Merrick Garland was a member of Joe Biden’s cabinet. He was willing to do whatever Joe Biden and his political operation wanted him to do, including destroying President Trump, including abusing our justice system for partisan purposes,” Senator Johnson explained. Jack Smith led the operation but countless agencies played a major role.

Senator Johnson repeated Joe Biden’s own words: “Donald Trump and the MAGA Republicans represent an extremism that threatens the very foundation of our Republic.” A year later in New York City, “Donald Trump and his MAGA Republicans are determined to destroy American democracy.” Biden declared war against his political opponents and their supporters, yet no one could have realized the extent he would go.

Richard Nixon attempted a similar plan during the Watergate scandal that ultimately led to his downfall. His campaign orchestrated a break-in at the Democratic National Committee headquarters to steal documents and wiretap phones of Nixon’s political opponents. Nixon was found guilty of political espionage, misuse of government agencies, and attempting to obstruct justice. Nixon was forced to resign and later pardoned.

Technology has advanced significantly since the 1970s. No one needed to physically break into a building to acquire records and tap phone lines. Watergate pales in comparison to Arctic Frost, which was broader in scope and far more intrusive.

“If they would do that to the president of the United States, if they would do this to United States senators and members of Congress, what would they do to you, people who don’t enjoy the bully pulpit or the platform that elected representatives have? This ought to be a chilling message to each and every American who loves this great country and believes in our constitutional system and equal justice under the law,” Senator Cornyn questioned.

The corruption of Joe Biden’s administration will be the death of the Democratic Party. Dictators target their political enemies and supporters, using government agencies to monitor any and all dissent. Democracy cannot survive under these conditions.