by Jim Rickards, Daily Reckoning:
The world may have been surprised by Biden’s decision yesterday to drop out of the race for the Democratic Party nomination for president of the United States. But there’s one group who were not surprised — readers of Strategic Intelligence and The Daily Reckoning.
Here’s what I wrote in October 2023, almost 10 months ago:
TRUTH LIVES on at https://sgtreport.tv/
The Democrats can’t wait to get rid of Biden. They’re preparing to tell him he has to step down or at least announce he’s not running. This will clear the way for Gavin Newsom, Gretchen Whitmer, Jay Pritzker or one of the other pretenders… DNC rules may have to be heavily revised since it is likely that Biden will control a large share of the delegates if this substitution process occurs late in the primary season. There may be other elements in the bargain including an agreed pardon for the Biden family by Harris (similar to the Ford-Nixon pardon). At the end of an ugly process, the Democrats will have what they believe is a viable candidate to face off against the Republican nominee.
There you have it. And here we are. In just over three weeks, we’ve gone through one of the most tumultuous periods in U.S. political history. Beginning on June 27 with Biden’s face-plant debate performance, continuing through the attempted assassination of Donald Trump on July 13, then the selection of J.D. Vance as Trump’s VP candidate and the nomination of Trump July 15–18 and now the Biden announcement on July 21 that he’s not seeking the nomination.
No incumbent president has ever dropped out of a presidential election campaign this close to Election Day — just 106 days from now. We can hypothesize but no one really knows what happens next including the leaders of the Democratic Party.
That’s more than most voters can digest in an entire campaign cycle let alone in a matter of weeks. And it’s not over. Biden’s endorsement of Kamala Harris as the Democrat
nominee for president doesn’t resolve the issue of who the nominee will actually be. We’re in for at least another month of political chaos, maybe more. Get ready.
There’s more that we don’t know than we know about what comes next. That’s OK. It’s not too soon to pose the key questions, frame possible outcomes and use our proprietary predictive analytic techniques to estimate the path ahead while being ready to pivot as and when key new facts emerge.
Biden’s announcement came Sunday afternoon in a letter released on social media. The letter wasn’t even on White House stationery; it was on Joe’s personal letterhead. What an insult to the American people. Could he not come out and give an Oval Office address explaining his reasons for this decision?
In 1968, when Lyndon Johnson dropped out of the nomination race after the primaries had begun, LBJ gave a 4,000-word address to the American people on live TV. That’s class. Biden stuck with his low-class style to the end.
By the way, who said Biden actually wrote the letter? It’s almost certain he did not write it but did he read it or understand it before it was sent? We don’t have to be conspiracy theorists to ask simple questions about the origins of the letter and the process of releasing it.
Are we witnessing a bloodless coup d’etat in America? I’ve seen the CIA push foreign leaders under the bus for decades. Have they finally turned their techniques to getting rid of a U.S. president?
You can’t rule anything out these days. Who will win the Democratic nomination — Kamala Harris — or someone else?
Read More @ DailyReckoning.com
