On Friday, Fox News anchor Tucker Carlson criticized President Joe Biden for his varied economic and spending initiatives, calling them “the most devastating thing any American president has ever done to this country and to the globe.”
Carlson began his monologue by noting that, without congressional approval or national debate, the Biden administration declared an emergency following Russia’s invasion of Ukraine and began imposing a series of financial policies that the White House claimed were intended to hurt Russian President Vladimir Putin but have directly harmed American consumers.
The implementation of a restriction on Russian oil quickly increased global oil prices, adding to an already-existing global supply chain problem, which Carlson argued has only been exacerbated by Biden administration inefficiency. Because of the Federal Reserve’s incompetence, difficulties that were aggravated by a year’s worth of shutdowns due to the epidemic, along with the infusion of trillions of newly printed dollars, have produced an inflationary cycle that the Fed can no longer control.
In the end, Carlson reasoned, a big global economic change is imminent, namely a movement away from the US dollar as the world’s reserve currency, which would have severe economic consequences for the majority of Americans, all of which is hastening by Biden’s policies.
Here’s a partial transcript of Carlson’s monologue: “Have you noticed? Here it is. At exactly the moment when the emergency powers they awarded to themselves to fight COVID started to wane, our leaders began pushing for conflict with Russia, and then, on the basis of that conflict, they assumed historic war powers.”
“Without even pausing, the Biden administration declared total economic war on a sovereign country. No American had been killed. The United States had not been invaded or attacked and yet, with no meaningful public debate or congressional authorization, the Biden administration destroyed that country’s currency, then removed it from the international banking system that impoverished its population.” he said.
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“Then the administration began seizing the property of people affiliated with that country without a trial or due process of any kind, without even bothering to explain exactly what crime they had committed. No American government had ever done anything like that before.” he stated.
“The morning that Russia invaded Ukraine, you may have been talking about a lot of different things — COVID, or crime, or the southern border. Not anymore. Much to relief for the White House, all of those topics have been forgotten, maybe forever. Thanks to the Biden administration’s mismanagement, commodities across the board are up dramatically — potash, fertilizers, wheat — huge. Nickel went up 250 percent in two days.” he added.
“Who’s going to pay for all this? You are. This is the biggest tax increase of your life, and, by the way, it could very easily get worse. Why? Because oil is traded in U.S. dollars. Ever hear the term petrodollars? Why would the rest of the world continue to trade oil in U.S. dollars, a fact that greatly benefits us, when there’s uncertainty imposed by political forces on oil markets? There would be a huge incentive to trade oil in another currency.” he continued.
“You can’t see this right now, because there’s so much hysteria being ginned up by the media, particularly on social media, but when that hysteria lifts, when the cloud finally evaporates, it will be obvious that the Biden administration’s response to the invasion of Ukraine is the single-most damaging thing any American president has ever done to this country and to the world — not to Putin — to us and to a lot of small countries that didn’t deserve it.” he said.