Joe Biden will undoubtedly paint a picture of a successful tenure as president. But I won't be fooled – and neither should other Americans.

WASHINGTON (Reuters) - Democratic U.S. President Joe Biden boosted security ties with Cyprus on Wednesday by issuing a presidential memorandum that makes the eastern Mediterranean island eligible to receive American defense articles and military sales.

NICOSIA (Reuters) -Cyprus on Thursday hailed U.S. President Joe Biden's memorandum allowing military sales, including arms, to the island as a milestone affirming recognition as a pillar of stability in the east Mediterranean region which has been fraught with conflict.

Speaking from the Oval Office, Biden sounded alarm over the accumulation of power and wealth among a small few.

President Joe Biden said an oligarchy is forming in the U.S. that threatens democracy, issuing the bleak warning on Wednesday in his final Oval Office speech as he prepares to hand over power to Donald Trump next week.