Pardon spree

Hi Global Recap readers,

It seems like governments are unravelling left and right.

• Syria remains in turmoil

• France’s government fell after a no-confidence vote

• South Korea… well you know what happened there.

But on top of that, President Biden’s aides are reportedly considering giving out more blanket pardons left and right. However, if this is out of fear of Trump, history tells a different story. 👇

🇺🇸 UNITED STATES
Biden's Preemptive Pardon?

President Joe Biden's aides reportedly debating whether to issue preemptive blanket pardons for:

• Dr. Anthony Fauci

• Liz Cheney

• Sen.-elect Adam Schiff

This is getting people to ask: Do the aides believe they are guilty of a crime?

The Big Debate

• Biden himself hasn't been looped into these discussions yet, reportedly.

• Concerns are that pardoning individuals not charged with crimes might suggest impropriety.

The Trump Factor

Kash Patel, a Trump ally, could be appointed head of the FBI, raising fears of political retribution.

• Cheney: She was one of two Republicans on the January 6 committee.

  • She campaigned with Kamala Harris, embodying the "Country over Party" movement.

• Fauci: He is blamed by MAGA supporters for the pandemic response, and has been repeatedly called out by Trump allies.

• Schiff: He was involved in the Trump-Russia investigation, which later failed to find sufficient evidence to prove Trumps’ criminal conspiracy.

Points to Consider

• Lab Leak: This follows a two-year investigation by the House Select Subcommittee on the Coronavirus Pandemic, which concluded that the virus likely originated from a lab.

• Trump’s record on jailing opponents: Despite his harsh campaign rhetoric, calling for the jailing of Hilary Clinton, Trump did not pursue this when he took office in 2017.

In November 2016, Trump told The New York Times:

So, the question arises: Are Biden’s aides breaking precedent in anticipation of President Trump doing the same?

Notably, President Biden already set a precedent with his recent sweeping pardon of his son, Hunter.

🇰🇷 SOUTH KOREA
Marching Toward Impeachment (Literally)

I honestly thought President Yoon had another brilliant plan in place, but it turns out he didn’t. You would think that when attempting a coup, there would be detailed plans covering everything from A to Z… Right?

After declaring martial law yesterday, South Korea's President Yoon Suk Yeol is facing impeachment, possible imprisonment, and a huge march toward his office.

Quick Recap

Yoon's sudden martial law declaration caused chaos and confusion.

• Declared martial law late on Tuesday, banning political activity and censoring the media.

• Armed troops stormed the National Assembly but were repelled by parliamentary aides with fire extinguishers.

• Parliament unanimously voted to lift martial law within hours.

Candlelight Vigil

Civic and labor groups took to the streets, echoing past protests.

• They held a candlelight vigil in downtown Seoul, calling for Yoon's resignation.

• They also marched to the presidential office, reminiscent of the 2017 protests that led to former President Park Geun-hye's impeachment and imprisonment.

Impeachment Bill

Lawmakers are moving quickly to get rid of Yoon.

• Six opposition parties submitted an impeachment bill.

• Voting is set for Friday or Saturday.

Financial Fallout

The political turmoil has rattled financial markets.

• South Korea's KOSPI index fell 1.4%, making it the worst-performing major stock market in Asia this year.

• The won remained stable but close to a two-year low.

• Finance ministry reassured global financial chiefs and credit rating agencies.

What's Next?

• National Assembly can impeach the president with a two-thirds majority vote.

• A trial by the constitutional court follows, requiring a vote by six of the nine justices.

• If impeached, Prime Minister Han Duck-soo would serve as interim leader until a new election.

🇫🇷 FRANCE
Government Collapses

As expected, France's government has collapsed after a no-confidence vote, leaving the country in political turmoil.

No-Confidence Vote

The government fell after a no-confidence vote.

• Prime Minister Michel Barnier's government collapsed on Wednesday.

• The left-wing NFP and right-wing National Rally party both voted against Barnier.

• This occurred after Barnier used Article 49.3 to push through the 2025 social security budget without a parliamentary vote.

Caretaker Government

However, Barnier might stay on temporarily as a caretaker government,

• The caretaker government can only expedite current affairs, not vote on new laws.

• President Macron has no specific deadline to nominate a new prime minister but aims to act swiftly.

Macron's Dilemma

Macron's presidency is under pressure.

• Some parties are calling for Macron to resign.

• Only 22% of French people are satisfied with Macron, according to a recent poll.

• Macron pledges to fulfill his role “with all my energy, to the last second.”

🇬🇧 UNITED KINGDOM
Crypto-Rich Russian Networks Busted

The UK has just shut down Russian networks that were moving billions for oligarchs, street gangs, and spies.

Bullish? 😂

The Big Bust

UK police have dismantled Russian networks swapping cash for crypto across Europe, the Middle East, and South America.

• The National Crime Agency (NCA) uncovered a complex laundromat capable of supporting almost any crime.

• These “crypto-rich” networks acted as illicit clearing houses, collecting cash in one country and making the equivalent value available in another.

Key Player

Meet the woman at the heart of it all:

• Ekaterina Zdhanova, a 38-year-old Russian businesswoman, ran a concierge service for wealthy Russians.

• She was hit with US sanctions last year for moving over $100 million for one oligarch to the UAE.

• Zdhanova is currently in pre-trial detention in France for crimes in a separate case.

The Networks

Two main networks were involved: Smart and TGR.

• They used Tether Holdings Ltd.’s stablecoin, offering huge liquidity to clients ranging from Russia Today to the Kinahan family crime syndicate.

• The tether USDT token was particularly attractive to criminals due to its stability compared to other digital currencies.

The Impact

This case is a major win for the NCA.

• The NCA coordinated 84 arrests worldwide and seized over £20 million ($25.3 million) in cash and cryptocurrency.

• The agency estimates that more than £100 billion is laundered through the UK each year, with around £12 billion generated in criminal cash.

The Bigger Picture

This operation highlights the link between Russian elites, cyber criminals, and UK street gangs.

• Rob Jones, the NCA’s director general of operations, said, “For the first time, we have been able to map out a link between Russian elites, crypto-rich cyber criminals, and drugs gangs on the streets of the UK.”

• The combined force of Smart and TGR was invisible until now.

🇱🇧 LEBANON
Hezbollah's Comeback Plan

Despite Israel's military blows, Hezbollah is gearing up for a long-term rebuild.

US intelligence reveals the Iran-backed group is already recruiting and rearming, posing a persistent threat to the US and its allies.

Military Setback

Hezbollah's military capacity has taken a hit, but they're not down.

• Israel's strikes have reportedly degraded Hezbollah's forces significantly, reducing their weapons stockpiles by more than half and causing thousands of fighter casualties.

• Despite these losses, Hezbollah is actively recruiting new fighters and seeking ways to rearm through domestic production and smuggling via Syria.

So are they just using this “ceasefire” as a means to regroup and buy more time?

Ceasefire and Challenges

A shaky ceasefire is in place, but the future remains uncertain.

• The ceasefire agreement prohibits Hezbollah from procuring weapons or parts, but enforcement is unclear.

• Israel continues to target Hezbollah's military infrastructure, including rocket launchers and border crossings.

Regional Dynamics

Hezbollah's operations are intertwined with regional politics and conflicts.

• The US is pressuring Syrian President Bashar al-Assad to limit Hezbollah's activities, potentially lifting sanctions if he complies.

• Hezbollah uses Syria as a key transit route for weapons and fighters, complicating efforts to curb their activities.

What a MESS.

Rebuilding Efforts

Hezbollah's focus is shifting towards rebuilding and maintaining its influence.

• The group is prioritizing the reconstruction of homes in Lebanon's south and Beirut's southern suburbs, areas heavily damaged by Israeli strikes.

• Hezbollah's leadership remains committed to its role as a "resistance" against Israel, despite the recent setbacks.