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USPS Privatization Would Cost Rural America More Than Mail (jacobin.com)

submitted 5 days ago by [email protected] to c/[email protected]

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Rural postal workers don’t just deliver mail. They put out fires, help elderly people who’ve fallen, and ensure veterans receive medication during storms. Trump’s proposed USPS privatization threatens these care networks in areas already lacking services.

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[–] [email protected] 1 points 4 days ago (1 children)

During trump's first term, there was a banking thing that came up. I can't find it in any of my bookmarks. Basically, there is an organization in the UK that sets the bank rates for the US and them, maybe more. I can't remember all of the details, but it was four letters and I think started with a B? It made me realize that we never really came out from under the crown. He who controls the money, controls everything. Trump is testing that, trying to give it to russia.

[–] [email protected] 3 points 4 days ago (1 children)

You may be speaking about LIBOR, I believe that's relevant internationally though mostly locally? If not that, Exchange rates and currency manipulation is alive and thriving.

[–] [email protected] 1 points 4 days ago (1 children)

Yep, LIBOR is it! I found that super fascinating. The things they don't tell you in normal schooling. I bet the ivy league high school prep schools knew about Libor.

I guess it's under a different name now so us plebs can't see what's going on:

The 1 month, 3 month, 6 month, and 12 month Secured Overnight Financing Rate (SOFR) is its replacement.[7][8][9] In July 2023, the International Organization of Securities Commissions (IOSCO) said four unnamed dollar-denominated alternatives to LIBOR, known as "credit-sensitive rates", had "varying degrees of vulnerability" that might appear during times of market stress

Libor Wikipedia page

Hmmm to the bold. I bet they're in the UK.

[–] [email protected] 2 points 3 days ago (1 children)

Yeah I only learned about it because I didn't study econ or finance in school and was super curious what the hell was going on when the great recession hit. It's definitely one of those "how the sausage is made" things that is taken for granted/accepted in a weird way given it's influence. Kind of like the major accounting audit firms, their momentum and influence is only maintained by their momentum and influence.

[–] [email protected] 1 points 3 days ago

Kind of like the major accounting audit firms, their momentum and influence is only maintained by their momentum and influence.

And that people don't even know about it. The fact that there are now unknown entities behind the replacement is telling.