36 Burst results for "Treasury"

Fresh update on "treasury" discussed on AP 24 Hour News

AP 24 Hour News

00:37 min | 39 min ago

Fresh update on "treasury" discussed on AP 24 Hour News

"Easing of some oil sanctions on Venezuela. It's an effort to support newly restarted negotiations between the Venezuelan government and its opposition. The treasury departments allowing Chevron to resume limited energy production in Venezuela. After years of sanctions. The singer and actress who helped create the soundtrack of the 80s has died, Irene Cara is best known for her role in fame and her song in the movie flash dance. She was 63 years old, Irene Cara died at her home in Florida. In Ukraine, the nation's president vows to get power restored to those suffering in darkness after Russian strikes. Our Karen Chammas reports. Ukrainian president volodymyr zelensky said that the main priority at the moment was bringing back power to all of Ukraine. The key task of today as well as other days of this week is energy. The president went on to say that half of those who lost power have now had it restored. In Italy landslides turned deadly on the island of ischia. In sports in World Cup action, France to advance to the round of 16. This is AP news. A look at prayer on the sports field. I'm Walter ratliff with the religion roundup. Let's go. Pre game prayers have become a focal point after the U.S. Supreme Court ruled a Washington state public school coach had a right to prey on the football field. A recent AP North Pole shows a majority of American adults approve of the decision. That's field speculation that prayer will become an even bigger part of game day. In Michigan, football coaches like west bloomfield's Justin ivy have found ways for members of the team to pray or not. It's never a situation where we made anybody come and do it. We just did it. Players like Hassan Shinawatra say their team prefers to pray in the locker room. We don't want to do it publicly because, you know, we don't know if people are comfortable. High school junior Chris Wright says the prayer strengthened the team's Bond. And it's okay to practice whatever religion you may practice when we all accept each other. It's, you know, kind of making it easier for us to be cohesive as a team. I'm Walter radliff. And I'm Jackie Quinn, AP news. You're

Irene Cara Venezuelan Government Venezuela Karen Chammas Volodymyr Zelensky Ukraine Walter Ratliff Chevron Washington State Public School Treasury Ischia Justin Ivy Florida Football U.S. Supreme Court Hassan Shinawatra Italy West Bloomfield France Michigan
Supreme Court OKs handover of Trump tax returns to Congress

AP News Radio

00:53 sec | 4 d ago

Supreme Court OKs handover of Trump tax returns to Congress

"After a three year legal fight, the Supreme Court has approved the handover of Donald Trump's tax returns to a House committee. There were no noted dissents as the high court rejected Trump's plea for an order that could have blocked the Treasury Department from giving 6 years of returns for both him and his businesses to the House ways and means committee. If Trump had persuaded the court to step in, he could have essentially run out the clock on the Democrat controlled committee since Republicans who will take over the house next year would almost certainly have dropped the request. It's Trump's third high court loss this year. The justices earlier refused to step into the fight over an FBI search of his Florida estate and did not stop the national archives from handing over documents to the panel investigating the capitol riot, Sagar Meghani, Washington.

Donald Trump House Ways And Means Committee House Committee Democrat Controlled Committee Treasury Department Supreme Court FBI Florida Sagar Meghani Washington
OFAC Backtracks (Somewhat) on Tornado Cash Sanctions

The Breakdown

02:00 min | 2 weeks ago

OFAC Backtracks (Somewhat) on Tornado Cash Sanctions

"First, one of the most significant tipping points in the regulatory discussion this year happened when the office of foreign asset control or ofac sanctioned tornado cash. Tornado cash is a mixing service that adds privacy to crypto transactions by making it difficult to see inputs and outputs. The sanctions brought up some serious questions. In fact, I would argue that they were one of the most galvanizing actions the government has ever taken against crypto. One of the big questions was did ofac actually have the authority to sanction a smart contract. This was completely new territory and caught a lot of people off guard. We've seen sanctions in the past, but they've always been for individuals, but not for entire protocols or smart contracts. Another question was even if effect did have that authority. Is it technically feasible in the case of digital asset addresses are of course public, meaning that people could be sent tainted assets against their desires? That is in fact exactly what happened in the hours after the sanctions were announced. Last week, I had David Hoffman from bankless on the show to discuss the lawsuit that he coin center and others were party to against the treasury. The lawsuit was focused on the compliance requirements now placed upon him for life because he was dusted with tornado cash related eth as a prominent public figure. Anyway, this is obviously been a situation that people are watching closely, and this week we got some updates. The Department of the Treasury who runs and who is responsible for maintaining the sanctions list has delisted and re designated tornado cash. This is perhaps in response to legal challenges, but it also could be a measure to turn up rhetoric regarding North Korea. The first sanctions happened in August and again the big issue was that the quote unquote designated person being sanctioned appeared to be the actual smart contract that governs the operation of tornado cash rather than a person or organization as required theoretically by sanctions legislation. In what appears to be a step to rectify the situation, the treasury has clarified that the organization being sanctioned is the tornado cash organization. The treasury goes on to describe the organizational structure consisting of tornado cash's founders and developers, as well as the Dow formed around the service.

Ofac Office Of Foreign Asset Contro David Hoffman Treasury Department Of The Treasury North Korea
Trump ally Tom Barrack acquitted of foreign agent charges

AP News Radio

01:01 min | 3 weeks ago

Trump ally Tom Barrack acquitted of foreign agent charges

"A longtime friend and ally of Donald Trump has been cleared of any wrongdoing in connection with his dealings with the United Arab Emirates during the Trump presidency A New York jury is acquitted Tom barrack on all counts The California billionaire who served as Donald Trump's inaugural committee chair had been charged with acting as an unregistered agent of a foreign government obstruction of justice and making false statements Prosecutors had alleged barracks scheme to become the eyes ears and voice for the United Arab Emirates as part of a criminal conspiracy to manipulate Trump's foreign policy He also got the UAE to funnel tens of millions of dollars into an office building he was developing and an investment fund Among the defense witnesses saying there was no wrongdoing former treasury secretary Steven Mnuchin The not guilty verdicts touched off a tearful celebration in the courtroom barracks says he's thankful for the U.S. justice system I'm Jackie Quinn

Donald Trump UAE Tom Barrack New York California Steven Mnuchin Treasury U.S. Jackie Quinn
Chief Justice Roberts grants Trump temporary hold in dispute over tax returns

AP News Radio

00:35 sec | 3 weeks ago

Chief Justice Roberts grants Trump temporary hold in dispute over tax returns

"The chief justice of the Supreme Court has put a temporary hold on the handover of former president Donald Trump's tax returns to a congressional committee The order by chief justice John Roberts gets a Supreme Court time to weigh the legal issues in Donald Trump's emergency appeal to the high court which was filed Monday without court intervention the tax returns could have been provided as early as Thursday by the Treasury Department to the democratic controlled House ways and means committee Roberts gave that committee until November 10th to respond

Donald Trump Chief Justice John Roberts Supreme Court Treasury Department Roberts House
Fresh Rate Hike to Strike Again

The Trish Regan Show

01:10 min | 3 weeks ago

Fresh Rate Hike to Strike Again

"Reserve interest rate hike coming. It's actually the 6th interest rate hike increase of the year this week. I mean, can you believe it? After they went for so long way too long, not hiking rates? Well, it's going to have a big effect on things. Probably not the effects the intended effect that we all want and that we want inflation to come down. That's really hard to do is I warned from the very beginning. You know what? Once this thing leaves the station, it makes it incredibly difficult to rein it in. It's one of the reasons why you don't want the Federal Reserve asleep at the switch for as long as these guys work. It's going to have a big impact on mortgage rates. It already has. We're above 7%, credit cards, car loans, student debt. Oh, yeah, student debt. You know what? I don't think Biden's going to get it all forgiven. It's going to have an effect on savings. Hopefully a positive effect on savings because you now have the opportunity to go and actually invest in things like treasuries, which might pay you a little money for a change. But for sure, it's going to have a negative effect on overall economic output. We're digging into

Federal Reserve Biden
Trump takes fight to shield tax returns from House Committee to Supreme Court

AP News Radio

00:43 sec | 3 weeks ago

Trump takes fight to shield tax returns from House Committee to Supreme Court

"Donald Trump is heading back to the Supreme Court This time the ex-president wants the justices to stop the Treasury Department from handing his tax returns to a house panel lower courts have rejected Trump's claims that the house weighs and means committee was overstepping saying the panel has broad authority to obtain tax returns If the Supreme Court sides with Trump he could potentially delay a final decision on the records until the next Congress starts in January and if Republicans sees house control they could drop the request altogether The high court most recently rejected a Trump appeal in a legal dispute over the FBI search of his Florida home in August Washington

Donald Trump Supreme Court Treasury Department House Congress FBI Florida Washington
"treasury" Discussed on Coin Stories with Natalie Brunell

Coin Stories with Natalie Brunell

03:57 min | Last month

"treasury" Discussed on Coin Stories with Natalie Brunell

"All right, back to the show. It is really interesting because there are it seems like several levers they can pull on before a catastrophe is ensues essentially, but it's all sort of shady ways of doing almost quantitative easing or yield curve control and intervening again because the system is so fragile. And it's this debt spiral that you always talk about. And you know, I have to be honest, when I first learned about bonds, it was really hard for me to grasp it. It was hard for me to even like, there was a point where I remember, I didn't realize that, you know, despite the maturity date, these things are trading constantly. You don't have to wait necessarily till, you know, the ten years goes by before you sell it, and they're just constantly going in and out of the market. And you know, it's so complicated this whole area for most people. And again, you don't really get taught this in school, and yet it's the base layer of our economy. Our debt economy. Yeah, and the problem is, so go back to what we're talking about. Liquidity, why does it matter? Okay, so the treasury has to issue debt in order to pay for the shortfall of earnings of the United States, right? So that's major. But then exactly what we just saw in the UK. So let's talk about that for a second. So the UK, their guilt, those are the UK bonds. Government bonds, they were trading and the new Chancellor came out with a tax cut. Surprise tax cut, massive tax cut, like one of the biggest ever, right? And the market was absolutely shocked. So what happened? The treasury sold off. Their guilt sold off because of loss of confidence. They're like, this is, they're going to cause a tax shortfall that they can't overcome. They're going to have to print. So they sold these treasuries way off. These guilts way off. And they were, it was you saw it happen. One day, they just collapsed. So, okay, why does that matter? Well, the UK pension funds, they're called schemes in the UK, and that's not a negative connotation out there, but the UK pension funds, they have, they've been trying to generate income, all these years, these last ten year plus years on anemic interest rates. So what they need to do is they need to generate enough income enough growth in order to pay for the future obligations of those pensioners. So they hold these. I leverage up on derivatives, right? Why not leverage? You know, I mean, so they've used these things called liability driven investments. And my ability driven investments are not bad in and of themselves. They're just trying to match the liabilities, the future liabilities of that pension. And two things they're trying to do is make enough, create enough income in the future. And limit risk. So they use swaps. Well, these swaps can be helpful because they can trade out a variable interest rate securities for ones that are fixed interest rate, and then it gives them great visibility of what they're doing going forward. As long as they hold them to maturity. And the second thing they can do is they can swap out some of the foreign securities they own and negate any foreign currency risk and just keep it in the British pound. So they can be helpful. But they can also be problematic in that it's a swap. And so when you create a swap, like when I buy a swab, I'm only putting down a certain percentage of that swap as collateral.

UK treasury United States
"treasury" Discussed on Coin Stories with Natalie Brunell

Coin Stories with Natalie Brunell

02:23 min | Last month

"treasury" Discussed on Coin Stories with Natalie Brunell

"The second thing is Janet Yellen came in last week and she started talking about the possibility of buying some of the long dated paper that's on these commercial banks, balance sheet, and trading them. For shorter term paper. Exactly. So they're going to, well, and that's something else. But that's right. That's another thing they can do. But one thing they could do is they can actually trade short term paper for long-term people. Why would they do this? Well, that long-term paper, it's sitting on these on these banks, balance sheet, right? But it's called off the run. They're off the run. When you get a run of treasuries that are liquid that you're trading every day, this is where it comes from. We are bank trader. You get an actual sheet and you would get a sheet of all of them, you know, treasuries on it. And if it's not on that sheet, it means it's off the run. It's not, it's not liquid. There's a lot of that paper in these banks. And so if you can, if you can swap that out for shorter term paper, or on the run paper, then it'd be much more, it just injects liquidity in the market because those are trading actually, right? So yeah, so that's one thing. And then the last thing is what you're saying is a pivot where the treasury could pivot instead of auctioning off ten year and 30 year bonds, they could auction off a whole lot more T bills and notes, you know? Much shorter paper. And the banks could buy this in lieu of using that reverse repo cash in the overnight market. So that's another thing they could do. The only issue with that is the ten year that ten year government bond, that is that's the benchmark for the world. And so that's the one that is really that the one that's not too long dated for long dated risk, but it gets you enough interest rate that you're getting better typically than a two year, but we're in a different world right now. So you have to take some drastic measures. And so I think they're looking at all of these things. And they're trying to decide what to do. Nothing's locked up yet, but they're trying to head it off at the pass. And so it's interesting. We're watching pretty closely what's going to happen in the next few weeks.

Janet Yellen treasury
"treasury" Discussed on Coin Stories with Natalie Brunell

Coin Stories with Natalie Brunell

03:10 min | Last month

"treasury" Discussed on Coin Stories with Natalie Brunell

"Dollars as they can use to buy treasuries or do whatever they need to do in order to inject liquidity into the market. So for instance, in QE, what they would do is they would get a balance of dollars and then go and actually go into the market and buy treasuries and inject into the market all this cash. And so even if they're buying them from themselves. So it'd be amazing the treasury is auctioning off. The notes and bonds that we're talking about. It goes through, it goes through an intermediary, the commercial banks, because the fed can't actually interact directly, transact directly with the treasury. But on all, it's basically just buying bonds from the treasury and printing money. That's how they do it. It's all electronic. It's not like you have this money printer. I love the meme. I really do with Powell, just printing money like mad. But in reality, it's not really paper money. That's being printed. It's just like a huge checking account, just boom. There's more money in your account and you're good to go. You know, it's fascinating. And essentially, it is infinite. And I love learning about the history of the Federal Reserve because when it was created in 1913, it was prohibited from owning government debt. It couldn't purchase treasuries. And now we are basically, oh, the most amount of debt to ourselves, not even other countries that own a ton of U.S. treasuries. Not only, not only is it, not only is it not prohibited. It's absolutely necessary. We're at the point now. And I'm kind of smiling about it, but it's not funny, you know? We're watching, we're watching countries around the world really struggle with this. The yen last night, you've got so you've got central banks are manipulating money so badly that things are starting to break. You know, you're starting to see cracks on the surface of all this debt created, it's just a house of debt, right? So it's a mountain of debt and you're starting to see cracks appear. So like last night. Empire of debt. I like that. Who said that? Ben Henrik. Yeah, it's been this good. So he's great. So yeah, and that's the problem. So now you're seeing central banks struggle with the problems that they're causing. Because you pull one string, you just pull one thread and it unravels a little bit. And you can't just pull one thread out. It's causing issues elsewhere. So for instance, like last night, the Japanese bank, the bank of Japan, went into buy Japanese government bonds over the course of this year to maintain a certain interest rate on their bonds, right? So they want to keep their ten year bond at .25%. And in doing so, they're basically saying that they're keeping a spread between Japanese treasuries and U.S. treasuries. So the fed has been raising rates while Japan has been keeping rates low.

treasury fed Powell Ben Henrik U.S. Japanese bank bank of Japan Japan
Rishi Sunak to become U.K. prime minister

AP News Radio

00:31 sec | Last month

Rishi Sunak to become U.K. prime minister

"Former treasury chief Rishi sunak will become Britain's prime minister at a meeting with King Charles the third Sunak who was elected the leader of the Conservative Party after the brief disastrous term of Lisp trus will visit Buckingham Palace where the king formally asks him to form a new government After that sunak's first task will be to appoint a cabinet that can tackle Britain's economic and political crises He will also prepare for a budget statement that will set out how the government plans to come up with billions of dollars to fill a fiscal whole created

Rishi Sunak Sunak Lisp Trus King Charles Britain Treasury Conservative Party Buckingham Palace Cabinet
 Rishi Sunak: UK's ex-Treasury chief gets his shot at PM job

AP News Radio

00:39 sec | Last month

Rishi Sunak: UK's ex-Treasury chief gets his shot at PM job

"Britain's ex treasury chief Rishi sunak gets his shot as prime minister Sunak ran for Britain's top job and lost Then he got a second chance He will be Britain's first leader of color the first Hindu to take the job and the youngest prime minister for more than 200 years Victory in the conservative leadership contest is also vindication for sunak who warned that former p.m. Liz truss tax cutting economic plans were reckless and would cause havoc Praised for overseeing billions in support to workers and businesses during the coronavirus pandemic he is promising to ease Britain's cost of living crisis

Britain Rishi Sunak Prime Minister Sunak Treasury Liz Truss
 Next UK prime minister: Sunak closes in after Johnson balks

AP News Radio

00:38 sec | Last month

Next UK prime minister: Sunak closes in after Johnson balks

"Former treasury chief Rishi sunak is the strong favorite to be Britain's next prime minister Sunak could well be offered the post after former lead up Boris Johnson dropped out of the Conservative Party leadership contest The government party is choosing a replacement for Liz truss who quit last week sunak is the only candidate with confirmed support for more than 100 lawmakers the number needed to run in the election House of Commons leader penny Morton has so far fewer expressions of support but is aiming to reach the threshold by the time nominations close later in the day Charles De Ledesma London

Boris Johnson Sunak Rishi Sunak House Of Commons Liz Truss More Than 100 Lawmakers Last Week Conservative Party Charles De Ledesma Prime Minister London Penny Morton Britain Expressions
U.K.'s Disaster Is a Warning For the U.S.

The Trish Regan Show

01:59 min | Last month

U.K.'s Disaster Is a Warning For the U.S.

"Right? I mean, and I think that we need to have this discussion about whether or not what happened in the UK could actually happen here at home. The one thing we've got going for us, of course, is that we are the world's reserve currency, which enables us to do things that other countries like the UK can't really do. I mean, she had good intentions and I'm a big believer in lowering taxes in order to stimulate the economy. The question is, can you afford it at that point in time? I tend to be of the belief that typically during challenging economic periods sometimes that lower tax environment is what helps to give a little back to the people. I would point out, then that when the previous administration, Donald Trump lowered taxes, we actually had the highest tax revenues on record in the history of this country. What do you know? Now most people who don't like lower taxes, of course, would dispute that. As for Liz trust, she did it at a time when the Bank of England really didn't have the proper support or the ability to properly support her either. It's one of the reasons why these central banks can't get out over their skis like ours has by printing so much money because then what do you do when the chips are down, right? If you don't leave any powder dry. So I think we need to think about the ramifications of this already. You're seeing some fear in the markets that certainly been reflected in our markets and you have only to look at the yields on treasuries, which keep going up. There was one of the fed governors out making the rounds on TV on a financial network recently. And he basically indicated that they haven't been able to curb this enough. It's what I've been telling you all along. No, they haven't been able to curb it enough. They haven't been able to get a hold of inflation. That's in part due to the fact that they printed so much money, increasing the money supply for so darn long. I mean, you're talking somewhere around $7 trillion got pumped into the economy since March of 2020. What do you think

UK Donald Trump Bank Of England LIZ FED
Boris Johnson eyes comeback bid as UK Tories pick new leader

AP News Radio

00:46 sec | Last month

Boris Johnson eyes comeback bid as UK Tories pick new leader

"British political analysts say Boris Johnson is eyeing a comeback bid as Britain's conservatives pick a new leader Former prime minister Boris Johnson is among several British lawmakers trying to scoop up support ahead of a short intense contest to become the country's next prime minister the Conservative Party is choosing a replacement for Liz trus who quit on Thursday after a turbulent 45 day term favorites include former treasury chief Rishi sunak and a House of Commons leader penny mordant the wildcard is Johnson who was forced to resign by the party just three months ago amid ethics scandals Meanwhile opposition leaders are calling for an early general election Charles De Ledesma London

Boris Johnson Liz Trus Rishi Sunak Britain Penny Mordant Conservative Party House Of Commons Treasury Johnson Charles De Ledesma London
Liz Truss resigns after brief, disastrous spell as British leader

AP News Radio

00:42 sec | Last month

Liz Truss resigns after brief, disastrous spell as British leader

"Many say Britain's government is in chaos and the conservatives leader should quit British prime minister Liz truss is hanging on to power by a threat After a senior minister quit with a barrage of criticism and a key policy vote descended into chaos and a criminally a botched economic plan unveiled by the government last month triggered financial turmoil and a political crisis that seen the replacement of trust's treasury chief multiple policy U turns and breakdowns of discipline many conservatives say trust must now resign but she's remained defiant saying she's a fighter and not a quitter While one conservative Simon hall says the government is simply in disarray

Liz Truss Britain Treasury Simon Hall Government
Liz Truss' waning power brings political plots, and jokes

AP News Radio

01:04 min | Last month

Liz Truss' waning power brings political plots, and jokes

"Prisons prime minister Liz truss has been scrambling to regain her grasp on power after a tumultuous week that has left many believing she will leave the top job soon Powerless humiliated labeled a ghost prime minister and compared unfavorably to a head of lettuce This is not a good week for his trust Trusses original economic plans affect a strongly negative reaction by global financial markets which saw the value of the pound plummets as a result trust was forced to appoint a treasury chief who has ripped up her original plans and left her in a much weaker position than when she started just weeks ago Trust admitted she slipped up Now I recognize we have made mistakes I'm sorry However her apology may be too little too late as lawyer Patrick caron de Lion predicts I think Liz trusts will be gone by the end of the week consultant Owen Eddie shore thinks British politics have become a joke The entire world as per usual Trust remains in office for now largely because her Conservative Party is divided over how to replace her Karen Chammas London

Liz Truss Patrick Caron De Lion Treasury Owen Eddie LIZ Conservative Party Karen Chammas London
We Need Affordable Energy!

The Trish Regan Show

01:58 min | Last month

We Need Affordable Energy!

"We need? We need affordable energy. Go do your green thing, but do not do it at the expense of the American people. We need to still be able to put food on our tables and gas in our tanks. Here is the former treasury secretary under Bill Clinton, talking about this very thing and saying, hey, we need a little bit more knack gas watching with Wolf Blitzer on CNN. And that means we need to recognize that whether the issue is energy security or whether the issue is climate. Natural gas despite being a hydrocarbon is a good thing, not a bad thing. And the more of it we produce, the better we're going to be. Yeah, the better we're going to be because you know what we're actually going to be able to afford stuff. So again, it's fine to have your pet projects. And it's fine to have long-term goals and there's nothing wrong with that. Look at Elon Musk, look at what he's done for the electric vehicle industry. That was a guy who had some vision. And by the way, the left absolutely hate, you know, he's under investigation right now. Because of some of his tweets during the whole Twitter deal, of course, he's under investigation. We had that revealed to us by the company itself because they're moving still forward towards some litigation. I don't think the litigation is going to happen. I do actually think that this deal will go through a little more challenging, of course, because some of the financial backers aren't too thrilled now. But nonetheless, you know, the government doesn't like the idea of Elon Musk having that kind of say or that kind of sway and power over such a free speech kind of vehicle, which it isn't right now. I think that that's what Elon really wants to make it become. But these are things we need to just own up to, right? We need to own up to yes. Okay, EV and green, that's all good. But you can't do it if you don't have something else to replace things by. This is still a free market economy.

Elon Musk Wolf Blitzer Bill Clinton Treasury CNN Twitter Elon Government
You're Dealing With a Team That Is NOT Smart...

The Trish Regan Show

01:06 min | Last month

You're Dealing With a Team That Is NOT Smart...

"Reality is you're dealing with a team here that is not smart. I wish I wish. I wish they would get Larry summers on their team. Former treasury secretary under Bill Clinton and also the former head of the national economic council under Barack Obama. He's like the only guy that's actually willing to admit the truth. And by the way, the Democrats aren't too happy about them because of it. But he, like me, actually, I was saying it much earlier than him. Understands understands really and truly what is at stake and it's a lot. It's a lot because we are now in an environment where the fed is not properly positioned to be able to reign in this inflation. They are not willing to actually engage in the so called quantitative tightening, which they need to engage in. In other words, they had all that easing. They went out and bought a $120 billion worth of mortgage backed securities and treasury bills for months and months and months and months for years. Pumping 7 nearly $7 trillion into the economy. You couple in all those $1 trillion programs that Joe Biden and the Democrats before still along and you get an environment with just too much cash floating around in the system.

Larry Summers National Economic Council Bill Clinton Treasury Barack Obama FED Joe Biden
UK leader Liz Truss goes from triumph to trouble in 6 weeks

AP News Radio

01:02 min | Last month

UK leader Liz Truss goes from triumph to trouble in 6 weeks

"British prime minister Charles has seen a turbulent start to her premiership with many saying her leadership is now hanging by a thread at just 6 weeks in power trusses time at the top has been bumpy to say the least Her libertarian economic policies have triggered emergency Central Bank intervention multiple U turns and the firing of her treasury chief conservative member of parliament Robert hauptmann described the last few weeks as a series of horror stories The government has looked like libertarian jihadists and treated the whole country as a kind of laboratory mice in which to carry out ultra ultra free market experiments The financial secretary to the treasury Andrew Griffith defended the prime minister This is a time when we need stability Nevertheless with new Chancellor Jeremy hunting power many say truss is still prime minister in name but powering government has shifted to hunt hunt has signaled he plans to rip up much of her remaining economic plan when he makes a medium term budget statement at the end of October Karen Chammas London

Robert Hauptmann Treasury Andrew Griffith Charles Chancellor Jeremy Truss Karen Chammas London
 Media: UK Treasury chief out as prime minister plans U-turn

AP News Radio

00:38 sec | Last month

Media: UK Treasury chief out as prime minister plans U-turn

"The UK has a new treasury chief the fourth in a year Embattled prime minister Liz truss has installed a new lawmaker to run the economy as she struggles to calm markets and hang on to her job following the release of a controversial economic plan trust has appointed former cabinet minister Jeremy hunt to the post replacing quasi quantang three weeks after quantang announced a tax cutting mini budget the scent ban plunging to record lows against the dollar immediate market reaction however has been muted investors already baked in the notion that the government would back down on some of its key proposals

Liz Truss Treasury Jeremy Hunt UK Cabinet Government
Kwasi Kwarteng Is Fired as U.K. Finance Minister

AP News Radio

00:27 sec | Last month

Kwasi Kwarteng Is Fired as U.K. Finance Minister

"The treasury chief is out as prime minister Liz truss plans an economy U turn Sky News and the BBC report that quasi quantang is ousted It appears trust has parted ways with her treasury chief as she struggles to car markets and hang on to her job the sudden shift comes three weeks after quantang announced a tax cutting mini budget that sent the pound plunging to record lows against the dollar Charles De Ledesma London

Prime Minister Liz Truss Treasury Sky News BBC Charles De Ledesma London
"treasury" Discussed on Techmeme Ride Home

Techmeme Ride Home

02:53 min | 2 months ago

"treasury" Discussed on Techmeme Ride Home

"Tech meme one 30 for a $130 off. So we started this episode by saying we're kind of alluding to the fact that quasi not ready to show everybody everything yet. Things are still being developed, but also we were going to be sort of broad and vague about what the product is. But you just described in a general sense something that's very exciting. How far away is that with the understanding that we've been discussing that you're going to come back and share more when we're ready for a big reveal to the world. But what is the state of treasury right now? What is the state of development and how far away do you think you are from being able to show what you're doing to the world? Well, so I will so Shawnee will share a little stack up in terms of how we're going from our spatial web thesis to demand side market analysis market outreach and so forth and communications because there's a bunch of stuff that people can actually connect to in terms of newsletters and events and whatnot. Product wise, right? We're about to launch the website. It's taken a little bit of time because so much of the technical product is actually attached to the website because we've got a whole WebGL doing system, but basically we've built four pieces of tooling a registry system for assets. And so everybody who owns or creates digital spatial assets in architecture, landmark real estate game film and digital art is very welcome to connect because we're not ready to announce it yet, but a bunch of extremely high architecture offices real estate operators, some game and some feel people are already ingesting assets into the treasury for distribution. And so we're ready to bring everybody in. We'll do all the demos of the registry system and the fingerprinting protocol, the mental protocol privately, but we already demo that stuff. We have a discovery engine for viewing, which we're also demonstrating to clients and different segments, which we'll mention. Again, it's in private you right now as we fix the assets inbound and kind of fiddle with all the WebGL stuff. We also have a curation tool. So that anybody outside of the creator's offices Instagram followers, fans of great school staff can add value that we're using Unreal Engine for that. And we have an indexing system where we can have a volumetric model of everybody in the world on the basis that at some point it's going to find its way into the metaverse, particularly for the purposes of engineering sustainability and just building up to make real work built environment optimization. So registry discovery curation tool and indexing tool now. All of that's in private view right now. So if you're interested as a creator to

treasury Shawnee
"treasury" Discussed on Techmeme Ride Home

Techmeme Ride Home

06:09 min | 2 months ago

"treasury" Discussed on Techmeme Ride Home

"And so is your bet that the metaverse is going to be this interoperable thing and it's not going to be some platform that you have to play on that is owned by somebody else? Well, okay, that is I don't mean that you are a stupid asking this question, but I do think that's quite a stupid trend in the debate. I mean, the reality is we know how this stuff works, right? Which is that the Internet is the Internet because of the way that the protocols are structured. TCP IP, which is the protocol stack of the Internet. They are open architectures. So when they're set up, anyone can evolve them in specific ways. And this debate, I would say it's more or less a done debate, which is if you want openness built open protocols, if you don't, you don't, right? And so where I get very frustrated with people commentating on the large platforms is that rather than saying, let's in force a certain protocol discipline, which is exactly what happened in the early days of the Internet. John pause at staff, but basically said to the military, no, no, we don't want to use your protocol stack. We're going to use this protocol stack because it's inherently more open. I want the debate to be directed to governance bodies, which already exist yet, frankly, for Internet architecture to say everything should be protocol based. And so the point is to ask Facebook not to be Facebook, right? Ironically, what you get is if you ask the large platforms to be generous and open, you just kind of get stuck in their fucking giant more of them. Let me cut you off. Let me ask this a different way. Forget about whether they have the resources and they bludgeon everyone into their version of the metaverse. Because that didn't work for Bill Gates, who saw that what was coming next would be high bandwidth, high broadband, the Internet, as we know it today. Okay, but the reason that Bill Gates lost is because something else got popular faster. So what if let's get away from Facebook? What if the thing that becomes popular is like we see with Fortnite or we see with like Roblox or we see what if the platform, what is the thing that gets popular first that we would call the metaverse is owned and refuses to be interoperable. Do you have faith that it can go beyond that? There are two really profound things that get confused here, right? The fact that Facebook has let's say it's 3 billion monthly active users. It does not change the fact that if you want to build a social network for your Friends based on Wikipedia or any open-source technology, this is directly on open protocols on the Internet. You can do that. Facebook doesn't prevent you from communicating. This is why it's confusing. People seem to think that because these very massive long tail collectors, people that have collected the massive aggregation power of the social graph or whatever it may be, the search graph. But sometimes they control the Internet. No, they just control a lot of attention. And if you don't want to go that don't go there. It's genuinely very odd to me that we are saying because something's got very big people somehow sucked into it because either we believe that people have agency and capacity to engage in independently of those things, which technically they do. Or they don't. And so I'm a little bit kind of end running a question, which is I genuinely believe that with open protocols and human curiosity, we will continue to build good things and we'll continue to have a lot of free association. I think the correct way to answer your question is it good for society if the big companies make the big things and have so much resources and advertising firepower that they go even get sucked into it. I would say that is not a good thing. So that's the fact. But it also think that if you wanted to militate against it, you need a technical pathway for getting a solution because just screaming at them is not that solution and it's screaming at regulators to isn't that solution, right? So I'm very aware of the implication of your question, which is that it is not good for that to be far too much aggregation power in the hands of a few platform companies. I just think the way to get to an answer is not just scream at them and say, give us some power back somehow, whatever, how about that would work? It doesn't work. You need an actual pathway, and that's why I talk about protocols. So I do think the middle ground question here on middle ground answer is I do actually think. That whether it's crypto or something, I do actually think that open architectures tend to win in the end. It's not accidental but a lot of what Amazon and Google and Facebook build on are open architectures. They use tons of open-source software. They're all running on Linux boxes somewhere in the cloud or Unix. There's a lot of validation open up to textures when. Monetize that how to manipulate their monetization. Aggregate power is a subscription. But I would say when it comes to spatial tech, open architectures are probably going to win for all the same reasons they've always won in the past. Now that's maybe over optimistic in terms of the aggregate impacts, but if you want to talk about the aggregate impact, it has to be serious conversation about how you regulate that. And that probably isn't for this podcast. But just screaming at the large platform companies is fucking useless and I'm so done with it because no one gets any benefit from it. So what is what is the bet that you're making with treasury? And if you're talking about building things that are a better infrastructure that are more just or morally correct or even you've used the words a lot of times like just like better quality even so what is the bet that treasury is making and what are you building to get to what you've just described? I mean, so there's a number of bets. I mean, I'll start with a simple ones, right? I mean, the simple ones just in kind of like mechanical like opportunity are as I say the two primary tool pieces of the treasury kind of like tool set, a licensing thing, right?

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"treasury" Discussed on Techmeme Ride Home

Techmeme Ride Home

06:48 min | 2 months ago

"treasury" Discussed on Techmeme Ride Home

"So what's your take in terms of the, it's going to be like that, it's going to be everything and some things that we think it's going to be it's not. But it's going to be sort of all pervasive and all encompassing in the same way that the Internet took over our lives. Yeah, obviously resonate with everything that John said, but I think that's also kind of just going back to why I got involved with treasury and the metaverse stuff, even though maybe my background doesn't align completely with that. Is that I do find it very interesting and very feasible in the future that these things are just not going to go away. You know, when something takes hold, it's not just going to, we're not going to be like, oh, that was a good experiment. Well, it didn't work. Let's shut it down. And so all of these things that we're building on, I think, in most of historical scenarios, with stuff like this, and as you're talking about cyberspace and stuff, is that we tend to overshoot things sometimes. And kind of go the farthest, craziest ideas possible. And maybe those don't work, but then there's always going to be elements of those crazy ideas that will step around. And so I think that's what we're going to see for the metaverse and spatial web emergence as well is that people are quick to say, oh, it's too much. Anti, you know, what being human is, but I think that fundamentally a lot of the things that we that we're working on and that a lot of people are working on are going to stick around and then kind of just really finding that sweet spot. And really enabling that tech to grow into kind of help them out of ours grow in a way that is good for everybody and that everybody maybe doesn't even notice that it's happened. One more little idea from the spatial web thesis which we've developed. I mean, I think there are a couple of ways in which we can understand a couple of key axes key dimensions of the spatial tech convergence that's happening. And I think the method of this conversation would actually be helped very much. It was more explicit about this. And so let's imagine that one of the things we're talking about in terms of the metaverse or digital spatial environments or spatial tech in general is some concept immersive that we are immersing ourselves in some spatial realm, all right? Now, one of the problems with the metaverse conversation is currently is that there's some presumption in this quite a lot of like would be norms from Mark Zuckerberg and others that we should spend a lot of time in a very technically or visually immersive environment. And finally, if people want to do that, that's fine. I think the problem is that that mainly humans don't experience what I got in a civility just through their raw senses. And so I think the correct thing to do to understand the immersive of spatial environments, these digital spatial environments is to split emissivity into two categories one is what you model technical emissivity. So how much biophysical do you feel you're inside an environment? And the narrative in the civility, which is how much psychologically do you feel you're inside or attached to a specific environment. And that distinction is why the profound because what you end up with and to just point about overshoot is quite possibly very minimal applications of spatial technology in other words, very limited technical or biophysical analogous emissivity, very high levels of narrative in the city. I'll give you an example again from the world of mapping, right? You might not think that you're in a matter of as we look at Google Maps, but you really are. You aren't on a pin on a map and this little story about your existence in this digital analog of the spatial realm that represents you. Now, that narrative becomes a bit more immersive when you have you asked for directions. I'm here on want to go there, right? So you have to follow directions in this little mini fake universe on your phone to get from a to B all very well. Now, if you suddenly are in a situation where there's an X and you have to get the hospital, or your wife is pregnant, you get hospital, suddenly the narrative emissivity is immense. You absolutely must follow the directions correctly, otherwise real things in your real life, the impacted profoundly. And so what you have is no increase in technical emissivity in a map in a Google Maps instance, but a contextual increase in narrative emissivity and understanding those two distinctions like what is the narrative layering on top of the technical technical deployment of the spatial environment. I think that will unlock for us probably most of the value that will come from metaverse or spatialization of the Internet, which is when we work out what matters to us, we're going to apply the right amount of spatial immersive, might discover it's a tiny amount as it is for a Google Maps instance, but with huge narrative payoffs. And for me, that basically dismisses most of 90% of most of the gun criticism and metabolism. Oh, we don't want to go to VR. Yeah, no fucking shit. We don't get VR. We might want some 3D cue or spatial Q to infinite stuff around us. Why not? Let's have that, right? I want to, I want to pull back on a couple of things that you've said previously that I've been making note of to come back to. And the first one would be, when you said, you know, is this good for us? Is this going to be good for society? And you say, it kind of doesn't matter because it's going to be pervasive sort of like the Internet is. But think of the classic way that it's been depicted in media, which is jacking in and sort of no longer worrying about the outside world or I live in a shipping crate. In snow crash because the real world doesn't matter as much as it does, what I do in cyberspace. How much are you thinking about the net good to society? It sounds like you're very optimistic about that. This is just the next stage of the entire connecting the whole world digitally. But what do you say to people who are like, well, this is never going to work out because it's never going to replace the real world. There's a couple of layers here. I am sure you may have a different view on this. We haven't discussed this a great deal, but we have like an overarching position for the company, which is not quite the same as the comment I'm about to make, so I know that Sean is aligned on the company sort of outlook on this, but there's a sort of foundational position which I want to share.

treasury Mark Zuckerberg Google John Sean
"treasury" Discussed on Techmeme Ride Home

Techmeme Ride Home

08:04 min | 2 months ago

"treasury" Discussed on Techmeme Ride Home

"There's lots of times in society and particularly the process technology in which a lot of stuff that's going on is captured under a certain word because people like anything in a country of some people like simplistic narratives, but also I think the human mind does need some kind of narrative to encapsulate and to engage with complex forces as they play out. And so I think that the method verse as a word is probably about as useful as the phrase cyberspace was in the early or the late 90s and the early 2000s in the sense that it was a kind of catch all word that did crystallize some things, most of falsified a bunch of other things. And so with that caveat, I will continue to use the word metaverse, but what I really mean is the unfolding phenomenon beneath it. So this is the first thing is that I have some caution about you to the word metaverse. I don't really need to kind of justify those use of it. I'll just say it captures a certain trend or blend of phenomena. More specifically, to give you parts of what we call our spatial web thesis, which when you put in you put this in the show notes, but it is a technical extrapolation of what we think is going on. And I'll just go through it step by step. Because this is the kind of fundamental version of the answer to your question. I mean, I believe, and treasury is built on the idea that there is what we call a spatial tech convergence first point to that will lead to new infrastructure layers of the Internet. Let me unpack that a bit, right? Spatial technology is a variety of domains. An instructor had been very separate. So you might have, for example, geo is sensing tech. Satellites and land sonar and mapping and GIS and whatnot. And it's all classic stuff, right? You might use it to work out minds or to track to map the oceans and so forth. There's one area of spatial technology. In other aerospace technology is classic architecture tech, cad that's become bim and whatever tools are used in and then just type parametric design on top of that stuff. And so that's how the domain of spatial technology. There's another domain gaming technology, right? It actually is very different in its technical stack and its interfaces and its presumptions as a value model. Even though they end up creating environments, if you like, visualizing 3D environments, another domain especially technology would be sensing tech. So VR goggles or AR viewing systems, not the main especially tech would be capture system. So you've got LIDAR and you've got photogrammetry and you've got whatever else you got tons of different. And there's other domains, right? That's a solid 5 of them. Now, our view is that these technologies are converging into a kind of universal deployment capability of things that are spatialized. So sensing tech and scanning tech and visualization tech and design tech and render attacks. Are all going to fucking merge. Now, there's kind of on the cards if you spend a lot of time in this domain. So when you say, oh, you've not been in VR. The truth is that if you work in object architectural design and architecture tech, you are in VR, your permanently looking at VR rigs and AR rigs and thinking it's all shit and the clients don't want it. So you look at it and dump it basically. And that's why it looks like you're in it because you know it's not mature, but you can see it evolving step by step by step. And what we generally believe in particular is that architecture tech and game tech. In other words, building things by arbitrarily precise elements, which is how cad and bim works. And render tech, which you have like a texture or a mesh and a finished look and you actually have to build components into that. Those two in particular are going to merge. Now, all of that, right? That's a convergence piece. We think are going to end up as infrastructural layers in the evolved Internet. Just something you step back so you get a sense of how that might play out. When Google at the very end of the 90s was innovating in search, literally just kind of a year or two out of Stanford fucking dorm rooms. It wasn't just a breakthrough in some kind of search algorithm, right? Larry pages back rob algorithm, right? Which then became page rank. Wasn't the innovation alone that made Google possible. It was the fact that there was a very fast Internet and there was very cheap storage in those increasing very cheap memory that what happened is there's a convergence of infrastructural quality technologies in which one or two things suddenly could capture a value proposition and become very, very viable. So one of the things that defined Google search quite early on is they put all their search index in memory rather than on hard drives, which meant that when you searched for a result, the result came back wicked fast, where you couldn't do that unless infrastructure scale commodity memory was available to search as everywhere. And so the situation now for us is that we think, right? That the Internet, everything that is Internet enabled right now in commerce and culture and in policy and health is essentially going to get a spatial layer. And that is the same way. In an analogous way that everything in the Internet or in the digital realm got a search layer at the end of the 90s, right? There's going to be 3D content everyone. Now that is what we call the spatial web thesis is that there are many converging spatial texts that will be infrastructure class, and there will be part of everything. And so that is a nuance on what the metaverse will end up being. So we go back to the concept of the cyberspace. People said, in the basic in the 90s, oh, cyberspace is coming. We go to cyberspace, we get trapped there. People were spending too much time in this abstract world. Sounds rather like frankly when you go back to the old stupid quotes. Some people talk about the matter, but oh, we're going to get lost in beyond and so forth. Truth is, we never went to cyberspace. Cyberspace came to us. There was a bit of Internet in everything. That's the way it works out. So what happens is rather than the Internet being a thing you log into or you go to cyberspace, it's become a layer on top of the physical technical reality we're in the second half of the 20th century. Exactly the same is going to happen with this spatial layer. And so if you want to understand what the metaverse is, basically think about it like this, think of anything that has Internet right now and think of how some small piece of infrastructure quality 3D visualization is going to be in there. It doesn't need to be a lot. The thing is, if we take mapping, for example, like mapping is the first piece of the spatial tech convergence and infrastructural layering of the Internet. No one builds map products anymore. Why because mapping as an infrastructure or commodity. So you have a product, you're going to put mapping in it. Almost countless products now have some geopolitical mapping in them. Which is the first piece of validation I would say that a spatial layer on top of the conventional Internet is coming. We think there's going to be a lot more of it, a lot of it would be 3D, a lot of these very minimalistic rather than fully immersive, but that's our broad take on the metaverse. I don't know if that's coherent or satisfying, but it is something of what would motivate us. Well, it is, I mean, you got the history hat tingling with me by saying cyberspace because Shawnee cyberspace or the Internet as it was described to people in 1995 say people would ask, is it is it gaming? Is it communications? Is it commerce? And it ended up being sort of all of the above and even more that people didn't anticipate and even some things that people thought it would be it didn't end up being.

rob algorithm Google treasury Stanford Larry
"treasury" Discussed on Techmeme Ride Home

Techmeme Ride Home

07:01 min | 2 months ago

"treasury" Discussed on Techmeme Ride Home

"In Shawnee's case, I think one of the reasons why she's involved in this, she can speak for herself, but she wouldn't set us up up in this way because they are in, but I induced her in I want to give a little background on you because she will not say that she's basically an emerging Twitter star and the reason for that is very interesting. She's basically a genius. She comments on society and modern mores in a way that I find very interesting. And cancer on Twitter, everything, it was a very type of person. She said she was looking for a full-time job. She's been working marketing design, and I thought, well, what we're doing actually requires so much framing to get it right. We can not just hustle up some tech and hope that what we want to be, which is a kind of meeting point for design creatives, urban morphology and sustainability, platform technology, experiential innovation, you need kind of like a discipline but expansive mind for that. And when I saw that she was making marketing skills available, I was like, quick, I need to grab that. That brain firepower. And then for reasons she could describe, she became full. But that's my setup to show me because she wouldn't give you her background that way. All right, well, Shannon go with that idea, yes. Yeah, so my background is more in digital marketing. I did a lot of ecom stuff, but I was freelancing for a while and did some sass consulting in marketing and strategy space. I would say in general, the reason I got involved with treasuries, I've always been very, very interested in technology in general. I would probably call myself a tech optimist. But also that I've always been really interested in doing things very, very strategically and very in a high quality manner. And so then when I met John, he obviously was very, very intent on doing this project and growing treasury in a way that was very more like artistic and spoke to kind of the things that I thought were important. I don't really like doing things half ass. I don't like I like challenging myself, basically. And so when he came to me with the idea at first, I was like, this is completely unhinged. And I was like, okay, it's so unhinged. Let's do it. But the more and more we've been working together. The more we've definitely been very aligned on kind of our strategy and our goals with regard to treasury. So that's probably the very short version. Well, where did the idea for treasury come from? Because again, it's not like, oh, either of you have, oh, I've been doing VR for 15 years or things like that. So. When the idea of the metaverse starts to bubble back to the surface in society and tech and stuff, what was the impetus to be like, oh, well, we can do something here, and what was the original germ of the idea? In a way, kind of old fashioned story in the sense that last meter exists, I think it will move forward and grow in due course. While it is moving slower than I would like, I started a podcast on spatial technology. In other words, the broader technologies around architecture and sustainability and technical optimization pathways for morphologies. And so that conversation on that podcast movement, different directions, different architecture tech things. A few things and so forth. And it ended up being funded by Epic Games Unreal Engine because they came on it and thought, hey, this is actually very high quality architecture technology content and through that kind of discussion and thinking channel, you know, inevitably I kind of was like at the boundary of what people are doing in NFT space or metaverse based so often that goes on asking people a source of people like trying to use NFTs to license digital assets and I was like, are you selling these things or are you are you sending them for licensing reuse? I've got a very vague answer I was thinking that's what odd you would use this quite sophisticated technology NFTs to just sell things on a unique basis rather than less than so many sophisticated sort of differentiated ways. And then the other question I asked was and he asked this question to Matt Bohr, right? He's the big metaverse guru. The guy I think has put like a lot of like quite robust analytical framing on the metaverse premise without it without it while avoiding a lot of the hype. I said to him, you do realize that you're going to have to you as the people building the metaverse stuff are going to have to license a lot of content because a, it's very hard to make good stuff and be a lot of it is owned in terms of intellectual property. And it was like, really. So I explained that to him and it was shocking to me that it was not so obvious perhaps to him in immediately. And then once I explained it all to me, he said, okay, I would invest in that. And I was like, oh, you mean, so then what happened was, is in having investigated some of the licensing and digital assets that was being innovated out there in space. And then hearing that it might be useful to create a licensing pipeline for high end and sort of technically rigorous spatial design content. I just asked a bunch of market colleagues at very, very high end architecture offices. Would you like to syndicate your content to be the backbone of game and film and environmental optimization and urban morphology planning? And they said, yeah, okay, that sounds great. And I was like, why is not doing this? In this state, I'm still in a state of shock, right? There's something very, very straightforward, analytically, maintaining this complicated, but analytically straight pool, which is very good quality content because it's technically hard to make, or it's owned, should be licensed out, needs to be likes to start, massive scale, put a deck together and within a couple of months we had a fantastic crew of funders joining in another couple of months. We closed around. That's it. And happy to be part of that round. But speaking of Matt ball, who was on the show not too long ago, we inevitably when we talk about these things, we say to people, the metaverse means a lot of things to a lot of different people, your idea of the metaverse might be different than Mark Zuckerberg's idea of the metaverse is just a good place to have meetings. For work. But in both your minds, what is the metaverse? What are we talking about here that you're building for? Okay, so yeah, I've sort of run up to this in a couple of ways. I mean,

Twitter Shawnee treasury Matt Bohr Shannon cancer John Matt ball Mark Zuckerberg
"treasury" Discussed on Squawk Pod

Squawk Pod

05:44 min | 6 months ago

"treasury" Discussed on Squawk Pod

"Should be something on the table. Absolutely. Next on squawk pod more on the drama at West Coast ports with treasury secretary Janet Yellen. We certainly hope in the agreement will be reached that will keep the courts open. This is really critically important to making sure our supply chains don't become more problematic. How Doc workers fit into America's inflation picture and so much more in our conversation with the former fed chair right after this. This is squawk pod today with Becky quick and Brian Sullivan. Here's Becky with a very special guest, treasury secretary and former fed chair Janet Yellen. Madam secretary, thank you so much for taking the time to be with us today. It's great to see you. Today, you were meeting with the president and the fed chair Jay Powell. This was a pretty important meeting the first one since he has been renominated, I believe. What happened in that conversation? What took place? Well, the president congratulated the fed chair and is on his confirmation emphasize that the president emphasized that he regards inflation as the major economic problem now facing the country and emphasized to chair Powell that he is strongly supportive of the feds independence and intends to fully respect it, we talked to good deal about the economic outlook what's happening in the economy. The president cheered his view that I certainly shared that we have enjoyed a robust and historic economic recovery 8.3 million jobs having been created since he took office the economy is essentially back at full employment with about the lowest unemployment rate in post war history households in good financial shape, the labor market performing very, very well, very, very strong labor market. And we should be in any beliefs we are in a period of transition now to steady and stable growth that we should be seeing numbers for job creation and economic growth that are lower than those over the last year or so when the economy was recovering and that this will be consistent maintaining now maintaining the gains that we achieved maintaining a strong labor market will be consistent with bringing inflation down and the president emphasized his intention to do everything he can to lower the cost that Americans face for important items in their budget, for example, for prescription drugs for utility bills, things where the president acting on his own or working with Congress can make a difference. And also his support for deficit reduction..

Janet Yellen fed Becky quick treasury Jay Powell Brian Sullivan West Coast Becky Doc America Powell Congress
"treasury" Discussed on Marketplace Minute

Marketplace Minute

01:33 min | 10 months ago

"treasury" Discussed on Marketplace Minute

"This <Speech_Music_Male> <Advertisement> is the marketplace minute. <Speech_Music_Male> I'm just in <Speech_Male> <Advertisement> hell. The <Speech_Male> stock market closed higher <Speech_Male> on Wednesday. <Speech_Male> The Dow gained almost <Speech_Male> 9 10%, <Speech_Male> the S&P <Speech_Male> rose nearly one and a half <Speech_Male> percent, and <Speech_Male> the NASDAQ added <Silence> two and one tenth <Speech_Male> percent. The <Speech_Male> Treasury Department <Speech_Male> says it's concerned about <Speech_Male> consolidation in <Speech_Male> the alcohol industry. <Speech_Male> It says <Speech_Male> beer production, for <Speech_Male> instance, his consolidated <Speech_Male> under two major <Speech_Male> brewers, which can <Speech_Male> make it easier for them <Speech_Male> to raise prices. <Speech_Male> The report <Speech_Male> suggests that regulators <Speech_Male> make it easier <Silence> for new businesses <Speech_Male> to compete. <Speech_Male> Toyota and Honda <Speech_Male> say they expect <Speech_Male> profits to rise this <Speech_Male> year. That's because <Speech_Male> they've been able to charge <Speech_Male> more for their vehicles. <Speech_Male> <Speech_Male> Supplies of autos have <Speech_Male> been hampered by chip <Speech_Male> shortages and supply <Speech_Male> chain issues. <Silence> And people are willing <Speech_Male> to pay more. <Speech_Male> Disney <Speech_Male> says profits rose <Speech_Male> last quarter by more <Speech_Male> than analysts thought they <Speech_Male> would. That's thanks <Speech_Male> in part to better than expected <Speech_Male> growth in Disney+ <Speech_Male> subscribers. <Speech_Male> The company <Speech_Male> says revenue from its <Speech_Male> <Advertisement> parks division doubled <Speech_Music_Male> <Advertisement> from the same time a <Speech_Music_Male> <Advertisement> year ago. <Speech_Music_Male> <Advertisement> I'm just in <SpeakerChange> hell <Speech_Music_Male> with the marketplace minute. <Music> <Music> <Advertisement> <Music> <Advertisement> <SpeakerChange> <Music> <Advertisement> <Silence> <Advertisement> <Speech_Music_Female> <Advertisement> <Speech_Music_Female> <Advertisement> We're <Speech_Music_Female> <Advertisement> all juggling life <Speech_Music_Male> <Advertisement> a career and trying <Speech_Music_Male> <Advertisement> to build a little well. <Speech_Music_Female> <Advertisement> The brown ambition <Speech_Music_Female> <Advertisement> podcast with <Speech_Music_Male> <Advertisement> host Mandy and Tiffany <Speech_Music_Male> <Advertisement> the budget needs <Speech_Music_Male> <Advertisement> to help housing <Speech_Music_Female> prices have gone up <Speech_Female> <Advertisement> so much. <Speech_Female> Will there be a market <Speech_Female> correction in the <Speech_Female> house that you <SpeakerChange> buy now <Speech_Female> might not be <Speech_Female> worth what you paid for? <Speech_Female> I remember how <Speech_Female> stressed I was <Speech_Female> when we got our House in 2018. <Speech_Female> Now, <Speech_Music_Female> <Advertisement> it looks like I'm a genius. <Speech_Music_Female> <Advertisement> 'cause our <Speech_Music_Female> home value is increased <Speech_Female> so much. You <Speech_Female> make the best <SpeakerChange> decision with <Speech_Music_Female> the information that you have <Speech_Music_Female> and then you let it go. Brown ambition, listen, wherever you get your podcast.

Treasury Department Disney Honda Toyota Brown
"treasury" Discussed on Software Engineering Daily

Software Engineering Daily

04:29 min | 1 year ago

"treasury" Discussed on Software Engineering Daily

"Me. We have like, I have a friend. He's in college. The IP is 21 years old. He has two credit cards and like four debit cards. It's like not that unusual. Well, are there any exciting things on your road map you're able to share? Oh, I mean, there's always always stuff we're doing. There's interesting credit things we're doing right now. Mostly treasure prime deals with deposit side. You know, we have some credit products that people are starting to use that we're in alpha with. Those are super interesting. Generally, we empower this banking infrastructure. And what's happening right now is that the banks themselves are starting to become a network. So we have clients now who are doing services across banks because one bank will have a better price than the other or a better service than the other. So we'll do half of their the fender will do half of the work at one bank and half of another bank. And we see more and more people wanting to empower these tools. You know, we're already best in breed at getting started quickly and getting things out known for being the fastest person to get anything in production. And that's great. I don't think that's something we probably need to worry about as much anymore because it's happening as people are getting to market quickly. And then they want to do extra complicated things. And so for us, it's the credit side and doing things and using our cross bank network. Well, for a developer that wants to take a look at the API docs, learn a little bit more about the features we talked about and the ones we didn't and see what treasury prime has to offer. Where's the best place for them to go? Dashboard treasury prime dot com. You can go to treasury prime dot com marketing site and click on the developer links. Yeah, all our docs are open. They're all right there. The alphabet sounds a hid. But the stuff in GA is all there. You can sign up for a sandbox account. You can move fake money around. You know, we'll create a fake we'll create a couple of bank accounts. So I think it's fake $10,000 in it. And you can move things around. That's easy to see. You know, I do a demo where, you know, it just sees curl to create some accounts and move some money around, create some cards, get the card number of the pan out. And that's for a lot of people. That's the aha moment. Oh, wait, it's that easy? Yeah, it's that easy. Don't worry about the complexity that we got to. The API, make sure that you can only do things, which are allowed impossible and legal. We provide you for doing all the illegal things. So there's a great developer story. What about for a BI analytics professional who wants to look at a big batch of transactions? Well, we have a product there. It's a harder story. Like we have data warehouse product. And we started it for the banks, but it turns out some of the fintechs like it too. So we will give you a cleaned annotated feed of every transaction, every action that's been taken on everything you've ever touched. And we do that by exporting it to a data warehouse in our case. It's a Postgres database. And you can access that and do whatever you want. We can show you how to put tooling on top of that. But the mind-blowing thing is that it's kind of crazy how much activity there is in a single account. And being able to model that and view it is just really, really high opening. You can get these incredible views of your customers. You weren't aware of the floor. That's the advantage using an API for all this stuff. We just write down everything you do. And you know, we have an audit trail for everything. Like I said, we use an immutable database. So it's like you can look at a snapshot whenever you want. And that's really insightful. We have one of our clients who finally said, yeah, I guess what we're going to use the data warehousing product now. So we turned it on and we didn't hear from them for a couple of weeks, which is unusual. And then the CEO called me directly and said, I had no idea the 10% of my clients were this busy. It's like yeah. Yeah, I mean, that's how it works. Most of these users are power law. You know, you have to super, super busy people, and then the less busy people. And like, yeah, we should focus on the busiest people. It's like, yeah, I agree. Well, good insight, yeah. Well, Chris, thank you so much for taking the time to come on software engineering daily. Thank you very much. I appreciate your taking the time. And I will hope that other software engineers have interesting listen to thanks so much. Absolutely..

treasury GA Chris
"treasury" Discussed on Software Engineering Daily

Software Engineering Daily

04:37 min | 1 year ago

"treasury" Discussed on Software Engineering Daily

"To be, for example, which a lot of the banking systems are up. And when it comes to credit cards and things like that, I know there's a layer of charge backs and credits being issued. People have to kind of monitor fraud and things like that. Is that a part of your services or do I do that with an auxiliary vendor on top of your platform? Right. People do use us to power credit things, credit cards use our handled by specialists. There's a number of inventors we partner with to do this. Treasure crime is an interesting position in the world because we have to be Switzerland. You know, we have to be equally Friends with the banks, the fintechs with the partners, like we have a big partnership, like one of the ways we issue car, that's probably the highest percent issuing cards through market. We have a great product. We deal with other with FIS and 5 serve as well, with a little bit. But mostly, we partner with people. And we have to be agnostic about how we partner with. So for us, we have a couple people doing credit cards like we're kind of just started doing it, who we use. And it's mostly because the complexity of managing that credit line is more than most fintechs want to do. And so it's only a few fintechs who are willing to do it right now. Well, similar question around the credit reporting agencies, what if I want to do some sort of quick background lookup or even report a delinquent account? Yeah, I mean, there's different ways to do this, but, you know, either whether it's credit building or dealing with the KYC things that we do all that stuff. If you have a bad, if you know, have a quick through the thoracic venue and said, oh no, I found this client base that needs a credit repair. Now, maybe that recent immigrants, I just looked like that clients like that. They can use us to help build their credit and how do they do that? We're LEGO blocks. We're an API where you can build stuff like that where you can say I'm going to create a bank account and I'm going to pay into it. I'm going to buy a CD with that and then I'll pay it out later. That will build my credit score and then we can report that with the bank to the credit reporting agency on, however. And then on the other side of that problem, when you're opening your bank account, we actually contact those people directly to say, tell me about this guy. You know, Chris is trying to open a bank account and see legit. What's his credit score like? If it's really risky, a lot of banks, a lot of people say, it's just not worth it. So we do both sides of that problem. And it is one of the hard things about the U.S.. Maybe one of the reasons make our banking system not great is that a lot of the KYC systems go through these private vendors who some of them work okay. But a lot of them don't, you know? And we still have to figure out who you are and how creditworthy you are based upon what a private agency will say. What I think across banking products I use, I obviously have pretty typical stuff at a big name bank. I have one credit card with a particular retail outlet, and some miscellaneous things here and there. Do you think that'll stay relatively consistent or will the financial products the average consumers engaging with be changing over time? That's a great question. A fun thing about treasury prime is since like, we're an API company and there's lots of people who use our API in different ways, we can sit and watch things that are working just through a number of API calls. And don't. And I thought that this would coalesce. If you'd asked me 5 years ago, I'd said, what's going to happen? We're going to walk around with one or two, do everything cards, and that'll be in. You know, have one bank account they're connecting to everything. But what's happened is the opposite. There's an explosion of this stuff. Seems like people have lots of cards now for different use cases. Have multiple accounts. Treasury prime does things that we can't share with other people about how many people have accounts with different banks, some of our clients and I'm not. And it's just really interesting to watch. What's happening, I think is since you're removing the friction from so much of the financial system, people are saying, sure. I can do that. You know, like you're saying, I'll have this retail this card with this retailer. But why not two or three? It's not really any more complicated for me to deal with. I have an app to deal with these. I'll put them on my phone. I can easily understand what's going on. I can get I can use various services to get an overall view of my financial activities. So why not? And it works. It's very surprising to me. We have like, I have a friend. He's in college. The IP is 21 years old. He has two credit cards and like four.

FIS Switzerland LEGO Chris U.S. treasury Treasury
"treasury" Discussed on Software Engineering Daily

Software Engineering Daily

04:15 min | 1 year ago

"treasury" Discussed on Software Engineering Daily

"And we actually have a whole separate cluster machines just to handle that traffic. For a lot of users, this is a more complicated thing they want to do, not the developer users. They want to be in the athlete that are getting notified of every transaction and stuff like that. And say yes or no to certain transactions. And we can do all that. But the latency requirements here are pretty small. You don't have that long before. Because someone standing at Starbucks right in their car, waiting for an answer. You don't have that long before you have to say yes. So you have to make sure that that stays up all the time. And that's our biggest traffic by significant margin. I think it's ten times with account endpoints. Do I need to worry about that as I scale up? Let's say I launched my lightning in a bottle app and I'm going to go from thousand to a 100,000 users overnight. Aside from good practices about, I guess not hammering the API and retries and stuff like that. Can I expect that system to stand up? Oh, yeah. Sure. Not our first ready out. It's a big distributed system on the back end, you know? We scale up and down throughout the day as you need. Architecture is pretty simple. We have our DR, which is more complicated and disaster recovery stuff, which is more complicated. But the basics that's really pretty easy, you know? We run on AWS there's Carlos Cesaro, who runs our operation that VP of operations network stuff. He set it up. So they're light bulbs. We turn on the traffic it's bigger. We turn on, you know, another box. It happens a load. You know, the parts of the system, which need transactional reliability. We have just a big couple actually. Big Postgres databases in the back. There are orders of magnitude bigger than we need to make sure we don't have the problem of encounter. Carlos likes to say who runs a stuff. He says, they're lightbulbs. You want more light. You just add another lightbulb. And that's worked well for us over the years. And like you think, sometimes we have clients and go through their informs or whatever and offer them their traffic goes through the roof. And like we had the Forbes was big. And we had a couple of Wall Street Journal and that was pretty big as well. And we have to be able to handle those spikes. Because the belly don't want to worry about that. So from your description, I would trust that treasury prime can manage my scale, but I don't necessarily trust that the historical banking infrastructure that is behind you can handle my scale. How does that work out? 100%. You're smart. I can tell you generally with maybe one or two exceptions. When a call is made to our API, we rarely say, we'll call the bank synchronously. We almost always say, I think 99% of the time. Great, hold on. We'll get back to you. So someone wants to send money. For example, we could descend it right then and say, hold on, while we send it. But we don't. We say, thank you. We've received a request. We're going to batch it up because reasons. And we're going to put this in status like pending or something. And when that's processed, usually if you're milliseconds later, we'll train the status to process. And or scent depending on which one you're at. And then you can either pull it again later or you can send your WebHook that says that happened. And why do we do that? Just for the reason you said, sometimes these banking systems are really creepy. And you'll say like, oh, the thing that most of the time takes, you know, a couple hundred milliseconds. Oh, this time it took 20 minutes. It's like, yeah, we just have to like put it in a queue and keep retrying and keep monitoring that system to its up. And that's why I said we're saying earlier, our system is really the gigantic workflow engine all this. I'm with you, you should not trust these banking systems and stay up under heavy traffic because mostly they can't, but we can modify them so we can send them back requests and that's what we do throughout the day. Are you looking to optimize your cloud costs with keen visibility and smart management? Meet yotta scale for a dynamic centralized view of your total spend.

Carlos Cesaro Starbucks Carlos Forbes Wall Street Journal treasury
"treasury" Discussed on Software Engineering Daily

Software Engineering Daily

03:38 min | 1 year ago

"treasury" Discussed on Software Engineering Daily

"I'm Christopher dean. I have cofounder. And back to CEO for my company treasury prime, which is a startup in San Francisco, four years old. And you know, my backstory here is that, you know, back in the day, I was a machine learning researcher happily in academia and family reasons. We moved up to San Francisco and you know I got sucked in by all the startups. And I've been doing that for 20 odd years now. And you know, I've seen all the things from the wild success and we sold the company for a lot of money, you know, and that was great to the chairs being thrown across the room when people, you know, and conference rooms. I've seen everything, and I'm really happy to be at treasury prime where things are going great, but we're also going to all reasonable people, which I like. What is treasury prime do? So I used to be run with FinTech group at Silicon Valley bank, which is kind of like which while it is. But the main bank that most startups use, you know, so that's where I would go before I do the right back right now. And when I was running the FinTech group because it bought our previous company. And I realized Gemini realized my cofounder that there is this is interesting problem that so many corporations, technology companies and fintechs want to access the U.S. banking system. And the banks want to help them, but they don't know how and what treasury prime does is we're a bridge between these two worlds. We have both fintechs as clients and banks, clients, and we provide an API to connect the two. We're pretty nerdy product internally, we think of ourselves as an API first product. We don't build anything unless we get an API around it. And you can do everything that a bank can do. And in fact, we run deposit operations for many of our banks. You want to open a bank account. We can do that. What kind of any kind? Commercial retail, trust whatever you want. We can open it. Do you want to send money around, wires, ACH? We can do that. Do you want to issue cards? Do you want to do Bill pay? Oh my gosh, do you want to deal with paper checks? You know, I'll tell you, please don't, but yeah, we can do that too. So we can do all those things. And I think the central insight we have is that the bank is still an important player here because they hold most of the economic reigns and that it's useful to have both the bank and a technology partner for the FinTech and for the corporate clients. We have more API clients. And we're that bridge. And that's the insight we have. We have a banking network of double digit banks, you know, to say that. And that works great for us. They can choose who the best fintechs are for the best banks. And that ends up being a long-term fruitful relationship for everybody. Could we zoom in on one of those use cases like opening an account? I could see where if the bank itself was your client, maybe you would help them give a functionality to open an account for a customer. What sort of end user outside of a bank would want to open a bank account for their software's user? Yeah, it's interesting. This is kind of the aha moment for treasury prime back before there was even a treasury prime. Is that the software that a bank wants to use in the software that a FinTech wants to use is actually the same software. It just slightly different use cases. So the easiest example for opening a bank account is I want to provide banking services to my end users. And there's Neil banks, which you do this right now. In the U.S., it's actually hard to become an officially chartered bank. But still there are a lot.

FinTech group Christopher dean treasury San Francisco Silicon Valley bank Gemini U.S. Bill Neil banks
"treasury" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:57 min | 1 year ago

"treasury" Discussed on Bloomberg Radio New York

"Treasuries rallied, the dollar goes down, and stocks are mostly lower after less than forecast increasing inflation was seen as giving Ben officials more flexibility. When it comes to pulling back stimulus, the S and P is down 3/10 of a percent now down 14. The Dow is down 6/10 of a percent down 208 and the NASDAQ is down to 10% down 23. The 10 year is currently up. 18 30 seconds with the yield of 1.26%, West Texas Intermediate create crude is off earlier highs up a quarter of a percent. Now at 70 62 a barrel Connection. Gold is up 8/10 of a percent at 18 08 18 ounce The dollar yen 1967 the euro dollar 18 19, the British found a dollar 38 54 House Democrats are considering a two year repeal as one of their potential paths to undoing the $10,000 capital. Federal deduction for state and local taxes, Senator Senior Ways and Means Committee Democrat Bill Pascrell of New Jersey, says the temporary rollback is one of the main considerations before the Democratic caucus. Now that is a Bloomberg business Flash. I'm Greg Jarrett. This is the big take the best of Bloomberg's original reporting from around the globe. Well, we actually make sure we do you as the economy recovers is look at the data kind of broken down of it is becoming more and more expensive. Looking into $15 billion for the entry level. There have been waves of immigration that have faced a lot of resistance. A lot of color behind the scenes in a great untold story. How did Bezos really come out on top? As the cover? Says Jeff wins, he always seems to win. The big Take on Bloomberg Radio. Alright, Matt. When I read today's big take story, which I do every day, I just said as I'm reading it, Boy, This is a HBO Max or Netflix kind of Movie in the making. Just start with the headline Glencore, Trader turns on colleagues.

Greg Jarrett $15 billion Jeff $10,000 1.26% Bezos Matt Netflix 10 year Bloomberg 10% 14 23 New Jersey 208 Bill Pascrell two year 18 08 today HBO
"treasury" Discussed on CoinDesk Podcast Network

CoinDesk Podcast Network

06:01 min | 1 year ago

"treasury" Discussed on CoinDesk Podcast Network

"To our main topic and let's check on the status of the battle around the infrastructure bill. The best way in a single episode to learn happened is to go. Listen to my conversation with jay vince. Guy who's involved throughout the fight but the super -til dr for the sake of this show is at the last minute. A few weeks ago provision was inserted into the infrastructure bill to try to pay for part of it by closing tax reporting requirements around crypto. The original language was written extremely broadly as we later found out this was pushed by treasury to give them max authority to write the rules as they saw fit and potentially with an eye to reigning in defy. There was a huge uproar in crypto. The rules seem to include validates. Minors you name it. Basically people who couldn't actually comply with reporting requirements and thus would be definitional in violation of the law simply by doing what they do in the context of crypto networks the nascent gripped alavi proved to be quite a bit louder and more effective than anyone assumed he wants some allies who tried to write an amendment that would clarify who was included that amendment caused its own fight and eventually produced a counter amendment and janet yellen. The treasury secretary was on the phone. Lobbying senators to support her amendment and not our amendment and the whole thing was insane at the end of the day. Debate was cut off. And no amendments were added and from there the fight. Turn to the house which brings us to yesterday's news. Which politico summed. Up this way crypto. Lobbyists handed setback is house blocks. Tax rules changes. the house. committee agreed to a process that would prohibit any amendments from being considered for the infrastructure. Bill so this vote that they're referring to yesterday at two twenty two to twelve vote to lock the bill from amendments sets up a floor vote on september twenty seventh with the original language. This is obviously a bummer. Although not really unexpected as ryan celicas again put it. They won't impede a must pass three point five trillion dollar spending an infrastructure bill to fix language in a pay for representing one percent of the bill. They already believe it will be clarified at rulemaking. Congress as usual with see authority to the executive branch to the battle is just starting. Interestingly treasury continues to push the line that i took such umbrage with during this whole process that of course it's not going to go after people who can actually comply with these requirements. because that would be dumb. Cnbc ran a piece yesterday. Called treasury will not target non-brokers like miners. Even if the crypto tax provision is an amendment discussing our fears basically the peace said that a treasury official who talked to them said those fears were on warranted quote the us treasury department will not target non backers such as miners hardware developers and others even if the provision is an amended a treasury official tells cnbc. Make it reporting. Requirements would only be extended to those able to comply like certainty centralized exchanges for example if written into tax law but prior to establishing the law. The treasury plans take the time to undergo research to understand who might be asked to comply and verify whether they'd be capable of doing so according to the treasury official. This process could take years as he's done throughout this crisis. Coin centers jerry. Brito pre perfectly captures my attitude about this tweeting. I'm glad to hear the treasury officials are telling reporters on background that they don't intend to target minors at the infrastructure bills crypto tax provision becomes law. But i'm afraid that is little comfort. Let me explain i. It's a little strange to assure folks that you will not target non-brokers because by definition only brokers can be subjected to reporting obligations of course treasury will never target non-brokers whoever's targeted we'll have been interpreted to be a broker. It's doubly strange when the point of the bill is to expand the definition of broker such that treasury could interpret it to cover non middlemen who would not qualify as brokers today for example. The article says the treasury officials said they did intend to target certain decentralized exchanges well if an exchange qualifies as a broker under current law. Then i'd say it's not decentralized so it's not clear who are these certain decentralized exchanges to which they refer only kind of entity i can think they mean our software developers who do not broker transactions in the common understanding of that word second the expanded definition of brokers only one of the concerns. We have with the portland crypto tax provisions. We have other concerns that have not gotten as much attention because they weren't the subject of the bipartisan. Senate amendment effort for example the bill would allow treasury to require reporting from brokers not just on trades but on mir transfers and not just broker to broker but from a broker to a non broker. I e a person with a self hosted wallet at similar to the mnuchin midnight rule the bill would also create an obligation for all crypto transactions over ten k to be reported to the irs along with personal information of the counterparty. This is a massive change to make outside of regular order again. I appreciate that it seems to be treasuries intention to get this right and we look forward to engaging in any regulatory process in the years to come but please don't accept the narrative that folks in crypto are overreacting about this provision. Here gang here jerry. What's clear to me is that the challenge is now set squarely on the treasury department. Today's washington post ran a long piece called cryptocurrency advocates. Find treasuries yellen to be a tough sell. The piece doesn't really add anything new to the discussion. But it certainly centers on the key actor here but key actor doesn't mean only actor. The wall street journal published today a piece on the national security scenes. Take on the issue. The peace was called infrastructure. Bills crypto currency measures risk pushing criminals further underground. And here's how neeraj from coin center summed it up not sec. Officials are wary of driving cryptocurrency further underground with heavy handed regulation from what i hear. They have a certain level of comfort with their existing visibility into the system. One of those officials quoted in the piece was siegel. Mandel ker treasuries former undersecretary for terrorism and financial intelligence. Who is now at riddick capital. She said the. Us has to make a decision. If it wants to be a center of transformational technology that can bring many more people into the financial ecosystem because as she put it. If regulations push innovation out of the country within five years quote the us will really get left behind. And that is the threat here so now obviously. I'm just picturing the handshake arm class. Mean between crypto in the national security apparatus strange times we live in but continued affirmation of what lawrence of arabia was so fond of saying nothing.

treasury jay vince alavi janet yellen ryan celicas us treasury department Brito Cnbc cnbc jerry Guy Congress Bill yellen coin center portland Senate irs treasury department
"treasury" Discussed on NewsRadio WIOD

NewsRadio WIOD

02:30 min | 2 years ago

"treasury" Discussed on NewsRadio WIOD

"This is Keith, Singer of singer. Wealth here is always to help you make smart choices about your money. And speaking of money, people really have two kinds of money. They have money that they want to invest and grow, and they have money that they need to keep very, very safe. Right? No matter how aggressive you are. Almost everyone has some money that they want to keep very safe, even if it's small amount, And obviously, if you're more conservative, the amount that you wanna keep very safe is much bigger. So the question is what Can you do that? Have safe money? You know, we know what to do. If you want risk. We can invest in equities week. Invest in stock market and tactically managed accounts. We can invest in alternative investments. And obviously you want to try to mitigate the risk the matter what investments you make. But if you really want little or no risk And you want your money, liquid and safe. And what are we talking about? Money market. I don't know. The last time you checked your money market, it's probably paying next to nothing. You know people used to ask me what's the money market interest pay, and they don't really ask that anymore because people don't even really expect to get any interest on their money market. The one year CDs. If you go out there and shop around, maybe gonna get half of 1%. If you're looking at having something fairly liquid, either in money market, you're not making anything but you do have safety. Right. Or you have a one year CD, which is making a half percent. That's liquid. You could break the city if you need to. Um, but it doesn't really pay that much. Now, if you're willing to Go a little bit longer term, right if you want to do with 10 Year Treasury, it recently brought 1% so you could make 1% a year for 10 years. You could also get a three year fixed annuity. I think that pays about 2.4% less than my check or five year fixed annuity. You might be able to get 3% year. That's not bad, I guess compared to what CDs of pain Although there's no investment risk for these vehicles, all of these options will have interest rate risk. Right. So if you have a longer term safe investment like 10 Year Treasuries, or you know a long term bonds. You're gonna have interest rate risk. Right if interest rates rise. The value of your bond will be worth less. So you need to take that into account. Now, if you want low credit risk again. In theory, Treasury has no credit risk, right? You're not gonna worry about the fall and cities. If you're under $250,000, you don't have to worry about credit risk. No. Will you get your money back.

Treasury Keith