Cui Bono? Biden and the Billionaires
Biden is the reverse Robin Hood...the BFF of billionaires and dream crusher of the middle class.
That Latin phrase means “who benefits?” It became a staple question of jurisprudence in the Roman Republic, popularized by Lucius Cassius, regarded as the wisest of Roman judges.
When evaluating the disastrous policies of the Biden regime, the “cui bono” inquiry provides clarity on the created crises that plague our nation – and the potential solutions to rectify the mess Biden has made.
Regarding historic, runaway inflation, Joe Biden is the best friend billionaires could ever hope to have in office. After all, inflation crushes small business and torments regular consumers, but it works very well for most globalist moguls.
This harsh new economic reality, this reverse Robin Hood approach, shouldn’t really surprise anyone since a select cadre of billionaires artificially installed Biden in office. Properly assessing the current economic quagmire requires a quick look back at the recent history of Biden’s billionaire backers.
Our 2020 election was rigged, and not only via distorted voting and counting procedures -- but also through the nefarious activities of billionaire oligarchs. For example, under the guise of “public health,” Mark Zuckerberg staged a de facto corporate takeover of the public election operations of key swing-state districts, manipulating voting procedures in ways sure to produce pro-Biden returns. Then, Zuck’s billionaire pals in Silicon Valley totally suppressed the most explosive story of the entire 2020 election season, the Laptop from Hell and the damning evidence pointing to “Big Guy” Joe Biden selling out America to Moscow and Beijing. In recent polling, nearly half (48%) of Americans believe he would not be president today if that story had been properly told.
How has Biden repaid the billionaires? Handsomely. Consider, for example how amazingly rewarding the unscientific and illogical lockdowns and virus prohibitions have been for the ultra-wealthy. According a new Oxfam report, the 10 wealthiest billionaires saw their total net worth more than double, from $700 billion to $1.5 trillion during the virus. These oligarchs of Tech and Commodity fortunes welcomed incredible gains in their assets from Biden’s insistence on onerous virus restrictions plus Biden’s massive inflationary policies.
On the topic of commodity inflation, Biden shows his true stripes as a Delaware senator, an advocate for multinational conglomerates and a corrupted political crony who does the bidding of Big Business plutocrats while crushing Main St. prosperity. Joe and his complicit corporate media allies love to propagate the myth that Biden represents some mythic blue-collar ethos, the “boy from Scranton, PA.” Well, Biden left Scranton in the 1950s, and has been a dependable stooge for Big Business his entire half century in the Washington sewer.
Now that Delaware Joe is in the Oval Office, he has taken his corporatist, globalist agenda to new heights. The inflation that he has unleashed produces misery for everyday Americans, particularly those of modest means. Of course, this modus operandi represents a dismal continuation of his priorities on Capitol Hill and in his previous White House years as vice-president.
As a senator, Biden led the charge to include Communist China in the World Trade Organization in 2001, on supremely generous terms to Beijing. Over the next 12 years, America lost 3.2 million jobs to China, including 2.4 million in manufacturing, according to a study from the progressive-leaning Economic Policy Institute. During Biden’s 8 years as vice-president, only the top 10% of earners in America saw their net worth increase. Federal Reserve numbers reveal that a staggering 90% of Americans became poorer with Obama and Biden managing the economy, while Barack and Joe’s besties lavished in rising asset prices.
Now, Biden is at again…on steroids. This chart really tells the tale. It shows the XLE Energy exchange trade fund that groups the largest global oil and gas companies together into a single stock. This particular ETF trades massive volume on Wall Street, and it just had its highest weekly close since 2015. Global Oil loves Joe Biden and skyrocketing fuel prices. Energy prices vaulted higher well before the troubles in Ukraine, more on that topic below.
As XLE surges, note an almost mirror move downward in the Housing ETF. The XHB ticker also groups together leading companies, but for the housing sector, from builders to big-box suppliers. In contrast to energy, housing saw the worst weekly close in a year, as soaring interest rates start to sting the previously hot sector. Biden’s inflation rewards conglomerates – and thus, billionaires – while punishing Main St.
This chart represents a painful “X” for everyday citizens, a financial world of pain that rewards billionaires and places like Riyadh, Tehran, and Moscow. Simultaneously, the downward portion of the “X” displays the anguish of small business and millions of economic strivers, the aspirational upwardly mobile go-getters that have always formed the backbone of American enterprise.
Biden and his cabal try to use Putin as the excuse for these surges in prices for commodities, of course. But here is the truth. Biden does recklessly engage in an escalation of a regional conflict in which America has no vital national interest. This unnecessary insertion of American power has undoubtedly spurred an additional surge in commodity prices. But the upward trajectory of prices across our economy, including energy, began way before things got hot in the Black Sea region.
Consider, for instance, Natural Gas prices. America is, and should be, the king of natural gas. The Almighty blessed our land with oceans of gas that we can now tap effectively via fracking. But after years of stable, affordable natural gas under President Trump, natural gas prices exploded higher once Biden declared war on domestic American energy production.
As this chart reveals, nat gas prices under Biden had already risen almost $2 per BTU since his election (natty is priced per million British Thermal Unit). Well before any conflict in Ukraine, Biden caused a 70% spike in the critical fuel that powers our factories and heats our homes.
The Left always projects, always accuses the political Right of the very offenses they themselves commit. The Democrat Party of the 2020s would be unrecognizable to Democrats from our grandparents’ generation. Biden’s policies undo decades of economic advancement in mere months.
Cui Bono? The billionaires, of course. The same ones who put him in office. Either we rise up electorally against these oligarchs in 2022 and 2024, or we lose our republic, just as Rome did.