While President Biden has taken a fair share of criticism, President Trump is continuing some policies that originated from him. One of those policies is the Office of Strategic Capital (OSC) that was established in December, 2022. The intent was to work with companies that developed “technologies vital to national security”. Those technologies included quantum science and biotechnology for “national security” and “defense capabilities”. Since these companies often lacked the needed capital, the Department of War (DoW) would become the investment bank for them by providing the needed loans.
10 USC 149: Office of Strategic Capital, signed into law in 2023, offers the legislative authority for OSC with other legislative updates along the way. More legislative details on technologies for investment include mobile robots, biochemicals, biomass, cybersecurity, hydrogen generation, microelectronics, nanomaterials, nuclear fission, and critical minerals, among many other items. OSC even advertises its debt financing and investment fund financing products and offers comparable interest rates, repayment schedules, long repayment periods, and even a deferred payment of several years. A full-service bank.
Read Full Article: https://thewashingtonstandard.com/department-of-war-is-now-a-bank/
