Treasury yields have tumbled, but US debt is still ballooning. Here are 5 charts that show how severe the outlook is.... Despite the recent plunge in US Treasury yields, fiscal problems remain, Apollo's chief economist warned. Trillion-dollar federal deficits will be around "as far as the eye can see," he wrote. Here are five charts that illustrate how severe the US debt outlook is.
As The Federal Reserve’s December Meeting Approaches, Here’s What To Expect... The markets expect the U.S. Federal Reserve (Fed) to raise rates 0.5 percentage points at its next meeting on Wednesday, December 14 at 2 p.m. ET. That would be a step down from the large 0.75 percentage point increases at recent meetings. The Fed stresses its commitment to fighting inflation, but now rates are increasing closer to where officials want them to be. Rate Hikes A 0.5 percentage point hike would be consistent with recent speeches from Fed officials, including Jerome Powell’s recent appearance at the Brookings Institution. The markets see a slim chance that the Fed decides to make a 0.75 percentage point move. That would be a surprise, given the Fed has suggested it will make smaller moves as peak rates approach, in part as a way to manage the risk of a policy error.
HSBC fights cyber threats with quantum methods ... HSBC has piloted the use of quantum key encryption to protect its client’s FX trading data from cyber-threats. For the trial, HSBC’s AI Markets trading terminal used Quantum Key Distribution (QKD) to encrypt and decrypt messages. QKD is a secure communication method that uses cryptographic protocols to create a shared secret code.
Five Key Takeaways from the Latest Senate Banking Hearing... Capital standards, privatizing the FDIC, killing cryptocurrency, avoiding 'branch deserts,' and staying out of politics and ‘culture wars' were all on the Senate Banking Committee's agenda when eight big banks hit Capitol Hill. You can probably count on one hand how many times Elizabeth Warren, U.S. senator from Massachusetts, has agreed with Jamie Dimon, chairman and CEO at JPMorgan Chase. During a mid-2021 hearing of the Senate Banking Committee, Warren called Dimon “the star of the overdraft show. Your bank collects more than seven times as much money in overdraft fees per account than your competitors.” After talking over Dimon’s attempts to respond, Warren finally demanded, “Mr. Dimon, will you commit right now to refund the $1.5 billion [in overdraft fees] you took from customers during the pandemic?” The response of the largest U.S. bank was unambiguous: “No.” But during early December 2023 hearings that brought top officials of the eight largest U.S. banks before the committee, Warren was on a different mission. She wants to kill the cryptocurrency business. The Massachusetts senator was hunting for allies.
H.R.8950 - Digital Commodities Consumer Protection Act of 2022... To amend the Commodity Exchange Act to provide the Commodity Futures Trading Commission jurisdiction to oversee the spot digital commodity market, and for other purposes.
The Twelve Largest U.S. Banks Cease Credit Card Services: What's Happening - hokanews... On December 14, the abrupt decision by the twelve leading banks in the United States to halt their credit card services has sent shockwaves across the financial world. With the decision set to take effect at midnight on that date, both the public and financial stakeholders find themselves in a state of bewilderment: what exactly is unfolding? This move has sparked widespread speculation, particularly due to the lack of detailed explanations from the banks. Among various theories, one prevalent notion circles around the emergence of a new phenomenon in the digital financial sphere: Pi Network.
Unprecedented cyberattack, suspected to involve JP Morgan, BOA, Citi banks, Tier 1 banks, and the Fed, is rapidly escalating in the United States. ... Experts express astonishment, labeling it as a magnitude never seen before.
Gold drifts upwards as dollar dips ahead of US inflation print... Gold prices recovered from a three-week low hit the previous session, as a weaker dollar provided support on Tuesday ahead of U.S. inflation data and major central bank policy meetings expected to yield clues on interest rates. Spot gold was up 0.4% at $1,988.69 per ounce, as of 1211 GMT. U.S. gold futures rose 0.5% to $2,004.10.
INSTANT POVERTY FOR ALL: Supreme Court decision could impose taxes on PAPER GAINS for all assets... If the Supreme Court sides with the federal government on this, it would allow the federal government to essentially confiscate virtually all assets of the American people, including your stocks, your home, your land, your gold, everything, almost everything. So this case is challenging the constitutionality of a tax law which was part of a law enacted in 2017, under Trump. This law required a one time repatriation on unrealized profits that are held overseas. So if you were an investor in an overseas company, and then that company never paid you profits, but if it reinvested its own dividends, and you maintain your ownership of that company, you were supposed to pay taxes on these unrealized gains, even though you never got paid. So this couple Charles and Kathy Moore, they sue the government after they were billed $14,700 or so as a tax obligation. It's gone to the Supreme Court, the oral arguments have already taken place. That was about a week ago. And the Supreme Court is set to rule on this... many people believe by June 2024. Now, importantly, if the Supreme Court rules that the federal government can tax unrealized gains, that is paper profits, on investments that American citizens hold, then that would be absolutely catastrophic for the American people for their savings, for their assets, for their retirement funds, everything. And here's a quote from Peter Schiff. He tweeted this out, and I think it encapsulates the potential crisis facing us all if the supreme court rules in favor of the federal government, he says: If the supreme court rules in favor of the government and allows it to redefine the income to include any unrealized appreciation in any asset, that it will grant the federal government a new power to nationalize the entire asset stock of the nation. In hyperinflation, the only refuge people have is the ability to hold real assets and never sell them. But if the federal government can claim unrealized inflationary gains as being taxable income, then almost all Americans will be forced to sell their assets just to pay their tax liabilities. You understand what he's saying here. Essentially, if you're holding house or land, or gold or stocks, and the paper value goes up, the government would force you to pay the gains on the paper value in dollars, even though you haven't sold those assets, and you have no cash flow to even pay the gains. So in order to pay the gains, you'd probably have to sell at least part of the assets, and then pay that money to the government.
Govt announces new Sovereign Gold Bond issues for December and February. 8 things to know... The union government has announced the issuance of new sovereign gold bonds (Sovereign Gold Bond Scheme 2023-24) in two tranches (December and February). The new SGB Series III subscription period is scheduled for December 18-22 and Series IV is for February 12-16. The sovereign gold bond scheme was launched in November 2015 to reduce the demand for physical gold and shift a part of the domestic savings -- used for the purchase of gold -- into financial savings.
BRICS: $2 Billion Copper Trade To Be Paid In Chinese Yuan, Not US Dollar... BRICS member China is convincing African nations to ditch the US dollar and trade in the Chinese Yuan for cross-border transactions. The Bank of China’s office in Zambia is pushing to increase trade in the Chinese Yuan in Southern Africa. Zambia is Africa’s second-largest producer of copper and China is the world’s biggest consumer of copper. Therefore, BRICS member China is looking to capitalize on international copper trade by making Zambia accept the Chinese Yuan and ditch the US dollar.
VIDEO Vanguard, Blackrock and hedge funds will be banned from purchasing single family homes - Housing market may tank...... Good News!
Democrats want to kick big investors out of the the housing market to improve affordability... Democrats want to ban hedge funds from buying houses in an effort to improve housing affordability. A bill introduced in the Senate would require hedge funds to sell off their single-family homes over the next 10 years. It would also prohibit hedge funds from owning any single-family homes at all.
The BOJ Bombshell: 12 U.S. Giants Cut Ties with Credit Card Providers, U.S. Banking Giants Stage Massive Exodus... In a shocking turn of events, twelve of the United States’ most influential banks have delivered a resounding blow to the traditional financial landscape. Effective midnight on Thursday, December 14th, these banking behemoths have formally severed ties with their credit card providers, heralding a seismic shift in the industry. The Exodus Begins: U.S. Banks Bid Farewell to Credit Card Providers. As the clock ticks down to the historic moment, the banking giants have sent formal notices to their credit card partners, announcing the termination of their services. The move, unprecedented in its scale and audacity, raises myriad questions about the future of financial institutions and their relationships with credit providers.
The U.S. Banksters 🏦 Are ALREADY plugged into the Quantum Financial System (via @Reuters)... 🚨Putin signs the currency PEG agreement tomorrow! (Wednesday) Anytime after the agreement signing, China is likely to turn up the gold price to $2,200 immediately which goes into the weekend, Oil price dramatically drops. Remember fiat vs gold price. Likely on Monday, China raises the gold price to $2,500 and collapses the U.S. fiat dollar oil price to between 40-$50 bbl. The U.S. Treasury bonds are no longer the “global reserve asset” collateral that trades global oil to value America’s debt. There’s your U.S. Treasury bond sovereign debt collapse. By China collapsing the U.S. fiat oil price to 40-$50 bbl. JPMORGAN Jamie Dimon knows what’s coming next week. There’s your true reset. Next weeks FOMC meeting will mean nothing because the U.S. Treasury bond will be no more. Powell won’t need to worry about rates in a non-existing U.S. Treasury bond(s) Everything falls down next week! -Cheers everyone
