40 Burst results for "treasury"
Fresh update on "treasury" discussed on Bloomberg Daybreak Asia
"A bit higher not by much a ten year treasury now in the Tokyo session at one 66 crude oil in the electronic session above 83 the barrel couple of things played out in the crude oil space first in the U.S. the EIA data showed a surprising drop in oil stockpiles and then on top of that Saudi Arabia was saying any extra oil that OPEC plus may pomp would do little to bring down those surging natural gas prices We'll take another look at market action in about 15 minutes Juliet Thank you Doug 34 minutes past the hour time for global news California governor Gavin Newsom has issued an order that aims to ease supply chain bottlenecks for the state's ports it Baxter has all the latest in San Francisco it Yeah exactly right Julia California is much of the world is experiencing record backlogs and very important global.
Kamala Harris, Stacey Abrams, and Terry McAuliffe Violated Federal Tax Law
"One I want to make a report for the Internal Revenue Service That is part of the department of treasury I want to make a report to the treasury Excuse me the tax division and the Department of Justice The criminal division and the attorney general publicly that Kamala Harris and Stacey Abrams have violated a federal tax law as has Terry mcauliffe Preachers whatever faith they can speak to issues even walk up to the line when it comes to politics but they can not be overt They can not be part of a campaign plan With videos with messaging turn out the vote It's illegal Because these institutions are tax exempt in their tax exempt because among other things they're neither profit making nor political And yet Kamala Harris has produced a video for the term McCullough campaign And they're working very hard to get out the vote in black churches and black communities And Virginia churches are airing Kamala Harris's endorsement of Terry mcauliffe and her urging parishioners to vote after attending church I don't recall such a blatant and aggressive violation of federal tax law But on the other hand what do they have the fear given the Department of Justice
Fresh update on "treasury" discussed on Bloomberg Daybreak Asia
"The market action Really earnings in the driver seat in terms of a lot of the price action today the S&P 500 9 points below an all time high we were higher for a 6th straight day we had a rally in many of the managed care stocks today after anthem's numbers top estimates those shares were up 7.7% and the numbers from Verizon also topped estimates the company was able to boost its adjusted profit forecast for the full year and Verizon shares today were better by about 2.4% Terms of the overall equity market the Dow today ahead four tenths of 1% the S&P better by about four tenths of 1% as well although the NASDAQ comp on a little bit of tech weakness was down about a tenth of 1% We'll get the Australian equity market up and running at the top of the hour futures for the ASX 200 with a gain of about two tenths of 1% and a ten year treasury now to yield of 1.65% were shut All right it's time to check in with what's going on in terms of international news.
Treasury Secretary Janet Yellen Is Building an Army of IRS Auditors
"Ladies and gentlemen they don't need 85,000 new auditors to get billionaires and millionaires There aren't enough billionaires and millionaires for $85,000 It aimed at you and I'll prove it to you again Because they want every transaction involving $600 to be monitored by the Internal Revenue Service That's not the case right now $600 Well you're not going to catch tax cheats with a $600 transaction This is just a way to get the foot in the door so they can spy on you and threaten you That's what we're talking about So here's Janet Yellen on CBS evening news last evening And she's asked about this by Nora O'Donnell Let's go to cut 8 Go You want banks to report transactions of $600 or more That's what the IRS wants Does this mean that the government is trying to peak into our pocketbooks If you want to look at $600 transactions Absolutely not I think this proposal has been seriously mischaracterized The proposal involves no reporting of individual transactions of any individual Look yes it does What are you talking about Yes it does A $600 transaction They want to be able to Monitor it And the banks have to report it What is she talking about These people on this administrator they lie worse than your typical American Marxist
Fresh update on "treasury" discussed on Balance of Power
"Up right now by 3.6% I'm Charlie pallette that David is a Bloomberg business flash Thank you so much Charlie pellet This is balance of power coming from the Bloomberg interactive broker studio It seems like only yesterday when we narrowly avoided a crisis over the debt ceiling But now it looms again less than 6 weeks away for his thoughts on the risks and what can be done about them We welcome now Stephen caplan He's associate Professor of political science at George Washington University So professor thanks so much for being with us First of all take us back in history a little bit Where did this debt ceiling even come from Sure Well thank you for having me on the show And this debt ceiling was initially established by Congress in 19 17 ironically to improve the efficiency of government and improve the US Treasury's capacity to manage U.S. debts by streamlining congressional approval And so over time Congress is actually routinely approved the debt ceiling more than a hundred times since the 1950s And what we're seeing more recently is that the debt ceiling is increasingly become a political tool for the opposition party to signal its discontent with deficit spending So what is a debt ceiling do right now Does it serve any useful purpose Is there any benefit to it Not necessarily not outside of politics really A lot of countries don't even have a debt ceiling cap because what effectively happens is Congress has already approved the spending So what's happening here is essentially a debate about whether or not the finance spending that's already been approved So it's quite similar on a household level to purchase a car and then having argument with your partner over whether or not to pay for the auto loan And in fact the nonpartisan congressional budget office even found over time that setting a limit on the debt is an ineffective means of controlling the deficit By the time an increase in the debt ceiling comes up for approval it's too late to void paying the government pending build without incurring serious negative consequences So professor make an interesting point there I think I just don't know Has it ever been the case that Congress in approving an appropriation has said oh maybe we better not appropriate this money because it would run up against the debt ceiling So I think in general I think that historically this kind of theater routinely happens and we see oftentimes US Treasury secretary is kind of scrambling at the last minute trying to finance spending prior to the debt ceiling limit increase But to your point typically it ends up getting passed but this kind of theater can still have very negative economic consequences And for that reason we actually have seen treasury secretaries from both sides of the aisle not only Janet Yellen but go back in time and space two years And nearly word for word we see treasury sector secretary in the nucleus and also having a very similar language in terms of respectively urging Congress to protect the full faith and credit of the United States by acting to increase the debt ceiling as well Yeah I've never talked to anybody who thinks it would be a good idea if we reneged on our debts At the same time we were doing this as you point out for a good long time You referred to the negative economic effects Could you lay those out for us Sure I think we see it if you look at what some of the rating agencies over time right Where no one ever doubts the capacity of the United States to pay its debt certainly it has the capacity to do it But what we're seeing with this debt theater politics increasingly over the last decade is is now questioning or uncertainty about the political willingness to pay debt Some examples in 2011 when S&P downgraded the United States from triple-A it talked about we can predictability of American policy making more recently when fixed affirmed its negative credit outlook it talks about the lack of bipartisanship and difficulty in formulating policy So what's happening with this political theater is something that as you sort of have mentioned no one really doubts historically the U.S. government's ability to finance obligations over the long run but with all this political theater right There's now sewing sort of the seas of uncertainty about political willingness to pay its debt particularly when we don't really get political compromise in terms of medium and long-term fiscal issues I think I've seen you suggest actually that it could even affect our position as having the world's reserve currency the U.S. dollar Certainly one reason that we've had very low interest rates not only through the global financial crisis but back to the 1990s And through the current coronavirus pandemic has been that the world has long-standing demand for U.S. dollars right International investors need safe long-term investment returns and that's how bid up the price of US Treasury assets and as a result drive U.S. interest rates lower So effectively the U.S. economy has benefited from this low interest rate facility Now present day much of the world uses dollars in terms of payments This dollar demand is not going to go away for tomorrow 50% of reserve holdings still are in U.S. dollars But that being said showing the seeds of this political uncertainty and doubts about political willingness to pay debt can't be good in the long run So this recurring debt ceiling issue certainly consumes a lot of time and effort at least I'm part of some people in the media and also in Washington But at this point given the fact that we've done it so many times is it a little bit like the boy crying wolf Nobody's really paying it that much attention anymore Is it really hurting us Well I think that it's a brinkmanship game right And so I think effectively with this political brinkmanship game everybody hopes essentially that as you're saying oh this is just going to be a routine increase in the debt ceiling notwithstanding this political theater But the concern of course is that what happens if something goes wrong with this game of political brinkmanship right Effectively we already see for example with T bills maturing months from now you already see some very mild pressure upward But what happens if the debt ceiling is failed to pass this coming December Then you leave the US Treasury kind of racing to try to find ways to cover the spending And so it's that kind of uncertainty where even though you have sort of long-term faith in U.S. credit if time and time again we keep having these political windows where investors start to each time become a little more concerned about potential episode You are sort of potentially playing a brinkmanship game politically that can eventually have an economic cost if things go wrong So finally professor as far as I know it's not written into the constitution you have to have a debt ceiling presumably Congress should pass a law that said if we appropriate money then treasury can borrow to get the money that we appropriated What are the prospects as a practical matter though of actually this being done away Since it does seem to give some enjoyment to some politicians on Capitol Hill Yeah So I think it's sort of provides a very good political theater We've seen over time for example the Republicans currently as opposition party are using this opportunity to kind of shine a light on their objections to President Biden's bills act better plan But certainly right Democrats have done that historically as well President Obama famously in 2006 wanted to reject a debt ceiling saying the bus stops here Watching shifting the burden of bad choices today on the backs of our children and grandchildren And so you have this terrific political theater but at the same time really in a country that has a lot to do and needs to spend its political capital.
A Global Deal Aimed at Ending Tax Havens Gains Momentum
"Global talks who forged a deal on sweeping changes in how multinational companies are taxed the prime goal of the complex discussions is the total global companies from stashing profits in countries where they pay little or no tax better known as tax havens the sweeping deal was agreed on Friday among one hundred thirty six countries the talks overseen by the organization for economic cooperation and development the most important feature is a global minimum tax of at least fifty percent that was a key initiative pushed by president Joe Biden and treasury secretary Janet Yellen Yellen says the minimum tax will end a decades long race to the bottom two two countries cutting tax rates I'm Charles the
Fresh update on "treasury" discussed on Balance of Power
"Portfolio We're seeing mixed markets here in the Asia Pacific This is where you get it We're still struggling with these worries over the slower growth scenario Bloomberg daybreak Asia Let's head over to Hong Kong for a market chick On Bloomberg radio the Bloomberg business app and Bloomberg radio dot com This is balance of power on Bloomberg television and radio I'm David Weston Over the years Goldman Sachs has set a stream of former executives to senior government positions in Washington But that pipeline may just be drying up Eric schatzker sat down for an interview with former Goldman CEO Lloyd blankfein And he asked him why he hadn't gotten that call from Washington yet I would say among the many reasons I haven't been asked So that would have to stay that would be that would be one of the prominent reasons It's a little bit of a charged environment I wouldn't say when you look at the administration you're finding a lot of people from finance and business backgrounds even in traditional roles in which there were occupied by financial people or commercial people or business people So I would say that it's not something that I mourn but certainly I would have gone into I would have considered public service because what else is left You know I work you know I worked at a high level at Goldman Sachs for 37 years You want to do something and you want to do something different and make a contribution So something that might have but that morning I understand why it's not why it's not happening now I hear Janet Yellen is looking for an exit What about boy playing fine for treasury secretary Would you throw your hat into the ring if you thought they were interested Who offered that job with to climb that I mean you know you'd have to be you'd have to be preparing for your end of life or jumping off a cliff or something like that Of course that would be to make that kind of a contribution to be at that fulcrum of that very large lever Of course you'd want to do it But again I have no real connection to that I mean we can go to we can go through this but I don't think that that's going to happen but it's not going to happen because I'm going to I'm going to turn down The Crown three times and make them twist my arm I don't think I don't think the offer is forthcoming That was former Goldman Sachs CEO Lloyd blankfein speaking with Bloomberg's front row the program will be airing this Friday at 7 p.m. Eastern Time And now I'm going to turn to some news just crossing the wire British health secretary Sajid javid is speaking right now from Downing Street And there's a news conference He says that the coronavirus will be with us for the long term He also says that anyone eligible for COVID shot must come forward He's warning about what could happen this winter in the UK You can watch that right now on live go on your terminal Coming.
Where Are the Fact Checkers on Biden's Budget Speech?
"A Democrat the Republicans the media all sound alike because they do not want Slashing the federal budget And so they wrap it all up in not paying our debt defaulting on the debt because they're lying Here's Joe Biden at The White House today cut 5 go The folding on the debt which secretary Yellen said could happen at any day after October the 18th as we run out of money means that social security benefits will stop Okay so now you know he's a liar The guy can't help it It's in his DNA It's in the little bit of tissue that's left in the cranium Go ahead The service members will stop No it won't And where are the fact checkers They're in the tank Go ahead And if it's the veterans will stop No they won't Go ahead Four The failure that raises that the more undermine the safety of the United States treasury securities Not long It will require you to make priorities and slash all the other programs and personnel Within the $3 trillion budget It's more than 3 trillion really 320 billion a month for 12 months The fact it's much more than 3 trillion Go ahead Bretton reserve status of the dollar as the world currency and the world relies on Downgrade America's credit rating and result in a rise in interest rates for families talking about mortgages auto loans actually that will happen when God forbid if Your spending
Fresh update on "treasury" discussed on Bloomberg Daybreak
"Do that at Bloomberg dot com Right now future is turning a touch lower now S&P futures are down a point so our Dow futures NASDAQ futures down 11 so really little change to lower at this point Ten year treasury little change 1.64% is the yield on the ten year note Yield on the two year close to .39 Checking Bitcoin right around $64,000 just a few $100 short of.
Biden enlists CEOs to warn of default if debt cap not raised
"President Biden isn't listing top business leaders in a bid to push Congress into immediately suspending the federal debt limit the president's been warning for days of what would happen if the U. S. defaults on its debt for the first time no it's a meteor headed to crash in our economy and corporate chiefs who joined him virtually and here at the White House added their own warnings we are simply put playing with fire right now city CEO Jane Fraser says the U. S. cannot wait until the last minute to resolve this nasdaq chief a dina Friedman says the impacts being felt on Wall Street we would expect continued delay in extending the debt limit would further destabilize the markets the treasury department warns it will quickly run out of money to pay the nation's debts if the limits not raised in the next dozen days Sager mag on the at the White House
Treasury says Arizona can't use federal COVID-19 aid for anti-mask education grants
"The federal government is telling Arizona to stop using virus relief money for anti masque grants in a letter to Arizona governor Doug Ducey the treasury department says federal pandemic funding cannot be used for a pair of multi million dollar grant programs that can only be used by schools without mask mandates or families that request vouchers because their public schools require masks the treasury department says the conditions undermine evidence based efforts to stop the spread of coded nineteen Arizona's Kobe case numbers and hospitalizations have been rising well the rolling average of daily deaths in Arizona from covert nineteen has stayed the same around forty six people per day I'm
Treasury Secretary Janet Yellen Says There Should Be No Check on Spending
"Janet Yellen is the treasury secretary Prior to that she was head of the fed She is an irresponsible big spending leftist And I want to show you why I want you to listen to this and then I want to break it down She was at a hearing today and let's go to cut a mister producer go Secretary Yellen without getting into the specifics of mister foster's Bill would you support simply eliminating the debt ceiling so that we don't have to deal with this in the future and can focus on real crisis Yes I would because I believe when Congress legislates expenditures and puts in place tax policy that determines taxes those are the crucial decisions Congress is making and if to finance those spending and tax decisions it's necessary to issue additional debt I believe it's very destructive to put the president in myself The treasury secretary in the situation where we might be unable to pay the bills that result from those past decisions Okay This is important to understand She's saying there should be no limit on the debt There should be no check on spending If Congress passed a spanning in a president signs that that's good enough And so you can have a Congress and a president pass massive mass suspending bills that will tie the hands of future congresses and presidents and more importantly the public For generations to come The reason they don't like the debt ceiling issue is because it forces them to make decisions
Sign of progress, Biden digs in to strike deal on $3.5T plan
"Lawmakers are expected to vote again today on another bill to keep the government funded past the end of the month and avoid a shutdown the Senate is poised to vote swiftly to provide the funding keeping operations flowing temporarily to December third the house could follow quickly the house is also preparing a possible vote to extend the debt limit through December sixteenth something Democrats are likely to support but even if it is approved by the house it's unclear if it could pass the Senate in the face of Republican obstruction the treasury secretary told Congress in a letter that October eighteenth is the date will likely exhausted all of its extraordinary measures being taken to avoid a default on the government's obligations meanwhile two more bills critical to president Biden's agenda the three point five trillion dollar spending package and the one billion dollar infrastructure plan are still meeting resistance forcing him and lawmakers to keep negotiating I'm Julie Walker
Powell says spike in inflation lasting longer than expected
"The chairman of the federal reserve says the current spike in U. S. inflation is larger and more persistent than expected in remarks prepared for a congressional hearing fed chairman Jerome Powell says the economy and consumer spending are on the rebound but there's a bird pressure on pricing in some cases it's due to bottlenecks in the supply chain and hiring shortages consumer prices have been posting twelve month gains as high as five point four percent Powell says although inflationary conditions are larger and longer lasting than anticipated he expects the conditions will ease if not the fed has tools to lower pricing pressure Powell and treasury secretary Janet Yellen will likely face tough questioning especially from Republican lawmakers about inflation Jackie Quinn Washington
What Kind of Program Is Social Security Today?
"What kind of program is social security today The trust has been broken They stole all the money out of the trusts If that's okay why can't you do that in the private sector If that's compassionate and righteous why can't you do that in a private set You do that in the private sector you go to prison So they tell you in your payroll you're going to make a contribution to your own account And social security administration is such a fraud It even sends out information about how much you have in your own account You have nothing in your account You have IOUs in your account The Treasury Department has taken every plug nickel out of every social security trust fund at every account and has spent it Medicare Same thing Almost $300 trillion now In IOUs to entitlement programs for people who have a right They've destroyed them It's only a matter of time till that presents itself though that's manifested It's only a matter of time This stuff can't go on forever Well market hasn't happened yet but when it does it'll be a horrific Human collapse Because people become dependent on you promised me What else is wrong with social security Well it's a universal program So people who don't need social security still pay in the social security People who do need social security have paid into social security getting a pretty good deal right now But their children are not going to get a good deal at all and their grandchildren are going to get nothing Nothing Just like Medicare Nothing
Machiavelli Demystified With Dr. Khalil Habib
"Habib. Welcome back to the charlie kirk show. Charlie's fit to be with you so we kind of stumbled into machiavelli. Last conversation and i promised our listeners. We will get back to it commonly you'll hear on cable television with almost no explanation. Someone say well. That's very machiavelli by this politician. Or that's very maquiavelian. And i think people at best have a very surface knowledge of machiavelli Who was this man. And why was he so important. So machiavelli was born in florence italy and you lived during the middle of fifteenth century. And he lives at a time during the renaissance where there was growing frustration with politics with the church Time for corrupt and it was a movement known as the renaissance that wanted to revive classical virtue stress. The emphasis of moral education on restoring civic harmony and restoring as states crap essentially machiavelli comes in and crashes in on this party and says that's a no go. You can't restore politics on classical moral virtue. And so what. He wants to spread in books like the prince which bookies most famous for today although does this is many years ago was one that people mostly focused on. He presses that of politics requires a cunning. You have to be manipulative. You have to be willing to use force there when you're gonna have to break with traditional moral virtue To essentially affect transition in politics for example One of his many critiques of the renaissance and the attempted to bring christianity in classical moral virtue. Together in a modern republic machiavellian. The prince talks about a situation in which a group of christians in a small town wanted to deal with criminals unchristian grounds and he says well this guy treasury borja who was a brutal dictator essentially showed mercy to the innocent by crushing. These people not turning the other cheek so in other words you measure your your use of force in relation to your end goal and if it's to bring about law and order you don't do it by a holding some kind of classical moral virtue forces necessary and so that forced burns the reputation of some kind of gangster Sort of a low philosophy a politics but It's incredibly influential and foundational in many
White House Warns That Debt Limit Showdown Could Hurt States
"The White House is a listing states to help ratchet up pressure on Congress to increase the cap on the U. S. debt limit a White House fact sheet for state and local officials obtained by the Associated Press is warning about severe cuts to disaster relief Medicaid infrastructure grants school money and other programs president Biden has been insisting on bipartisan backing to increase the cap on the debt limit that was a crude mostly before he took office but Senate Republican leader Mitch McConnell has been unmoved and repeatedly says the Democrats must act on their own the nation's debt load stands at twenty eight point four trillion dollars that six trillion over the suspended debt limit that was reinstated in August the treasury department's extraordinary measures to keep the government running will be exhausted by October Jennifer king Washington
UK Posts the Biggest Jump in Annual Inflation on Record
"Which is consumer prices have risen at the fastest recorded right during August you twit shortage in global supplies and higher wages the British office for national statistics said inflation accelerated to three point two percent from two percent the previous month the jump marks the biggest scam of increase month on month recorded by the consumer prices index the spike takes inflation way above the bank of England's target fifty percent and is likely to ratchet pressure on policy makers to sing consider raising interest rates from record lows the governor of the bank of England's now has to write a letter to U. K. treasury chief Chrissy C. not to explain what's going on as inflation has risen more than one percentage point about the bank of England's targets the governor Andrew Beatty is expected to blame the rise on temporary factors related to the pandemic Karen Thomas London
"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.
Federal Aid Saved Families During the Pandemic
"The money and other resources. The federal government brought to bear to keep people afloat during pandemic was in essence of vast anti-poverty program. We'll get a sense later. Today of how well the pandemic relief worked. When the us census releases twenty twenty data on poverty other indicators show the programs kept hunger at bay in many households and democrats are pushing to extend some of those programs which do have costs. Marketplace's amanda teacher has more the government provided billions of dollars in pandemic aid. Emergency unemployment benefits stimulus checks and increase supplemental nutrition assistance benefits or food stamps. Without all that care about dairy from. I focus on children's says things would have been much worse while dairy points to the advanced child tax credit deposits up to three hundred dollars a month per kid. They put cash directly in the hands of families cash. That's been going toward things like groceries or rent. Democrats want to continue the child tax benefit the treasury department says it would cost taxpayers about one hundred ten billion dollars a year. Eric york is with the tax foundation. It becomes just very expensive to make it permanent. She says that may be why. Lawmakers are only proposing to extend it through twenty twenty-five according to columbia university social policy center child poverty dropped by more than forty percent after the first child tax deposit in july. I'm amanda feature for
Policy Center Says Debt Limit Could Be Hit in Mid-October
"What happens if you can't pay your bills we may be about to find out the fear is that the U. S. may default on its bills for the first time ever in fact a Washington think tank the bipartisan policy center says the government will likely face an unprecedented default this fall if the train goes off the rails as the think tank puts it the government would not be able to make payments on time like military pay a Medicare provider payments just to name two treasury secretary Janet Yellen warned Congress this week if it doesn't act the US will be unable to avert a default in October I'm ready to fall away
White House Calls for State, Local Eviction Moratoriums After Supreme Court Ruling
"Advocates and court officials were gearing up today for what some fear will be a wave of addictions. Others, however, predicting it will just be a growing trickle after U. S Supreme Court action allowing the lockouts to resume. The high court's conservative majority late yesterday blocked the Biden administration from enforcing a temporary ban place because of the coronavirus pandemic. The action ends protections for about 3.5 million people in the US who say they face eviction in the next two months. The court's action does not affect the temporary bans on evictions placed by a handful of states, including California, White House Press secretary Jen Psaki said. The Treasury Department and Housing and Urban Development Secretary Marcia Fudge today sent a letter to all governors, mayors and county officials urging them. To implement their own eviction moratoriums. President Biden would, of course, support congressional action to authorize an eviction moratorium, and the Supreme Court has now clearly outlined that as the sole way a moratorium could remain in effect now, at the same time, I think it's important to remember what our objective is here. Our objective is to keep as many people around the country in their homes as possible. Federal legislation is one way to do that. Obviously, the eviction moratorium we had have had in place and we've been issuing month to month is one way to do that. But the ER a funding that came through the American rescue plan, and it's going out to states is another way to do that, and we have asked, and we have put out today. The Department of Treasury and the secretary of It has the same impact right because it is preventing people from being kicked out of their homes. And these states have the funding thanks to the American rescue plan to get that done now, the other place that's our responsibility that we continue to focus on is working to eliminate any red tape that exists.
"treasury" Discussed on The Breakdown with NLW
"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 is written until tomorrow be safe and take care of each other piece..
"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.
Fed Discussed Pulling Back on Bond Purchases Later This Year
"The federal reserve may soon be dialing back their support for the economy minutes from the late July fed meeting indicate the economic recovery from the pandemic is moving closer to goals on inflation and jobs as a result the fed is expected to start cutting the pace of its treasury and mortgage bond buying when that will happen is not clear it could happen as soon as next month the strategy was to lower longer term interest rates and encourage borrowing and spending the rate is near zero the minutes also noted fed officials were worried about the threat posed by the rising number of virus cases from the delta variant and that it may temporarily delay the full re opening up the economy at Donahue Washington
US stocks eke out gains, leaving S&P 500 higher for the week
"After another day of wobbly trading Friday, leaving the S and P higher for the second week in a row, it added 500.2% its fourth straight gain, the Dow edged up less than 0.1%. Small company stocks fell and Treasury yields dropped. It was little for investors to
"treasury" Discussed on The Last Word with Lawrence O'Donnell
"It's time for the last word where jonathan take part is in for lawrence's a much more familiar world for me where i end my show and give it to you because that's we did mornings on sunday mornings. I guess we're going to be doing is warning. Yes right well. Thanks very much alley. Have a good evening it. thanks a lot al. it's about damn time. That's how congressman. Bill pascrell a member of the house ways and means committee described justice department's announcement that the treasury department must turn over six years of donald trump's tax returns to house investigators on the committee the committee. I made the request eight hundred forty nine days ago. The bill bar justice department which basically operated as the donald trump justice department blocked trump's returns from being released despite the fact that the law is absolutely clear that the treasury department xiao turn over any tax document requested by a tax writing committee in the congress. Today merrick garland justice department. Says that the committee's request to see the records is lawful valid and should be fulfilled quote applying the proper degree of deference. Do the committee. We believe that there is ample basis to conclude that it's june twenty twenty one requests for former president trump's tax information would further the committee's principle stated objective of assessing the irs presidential audit program a cleanly legitimate area for congressional inquiry and possible legislation ways and means chairman. Richard neal said this about the decision. As i have maintained for years. The committee's case is very strong in the law is on our side. I am glad the department of justice agrees and that we can move forward and then there's this from house speaker. Nancy pelosi who called the decision. A victory for congressional oversight powers quote access to former president. Trump's tax return is a matter of national security. The american people deserve to know the facts of his troubling conflicts of interest an undermining of our security and democracy as president leading off our discussion. Tonight is congressman. Lloyd doggett of texas. He has the second highest ranking democrat on the house ways and means committee. Doug thank you very much for being here. The immediate question for you is this. When do you get donald. Trump's tax returns not yet but this was an important step in getting Jonathan and it is important to remember how we got to this point today. Donald trump the lied about the his willingness to disclose his tax returns. As the public outcry over that began to intensify. He presented us in the committee a letter a letter from his law firm that there was nothing to look at not noting that that same law firm was named the russia author of the year for years for months at least a the house. Republicans on our committee covered up for him. I made six motions other colleagues made motions. They refused to use a law that grew out of another republican scandal. Almost one hundred years ago. The same law that figured in richard nixon saying i'm not Over his tax deductions and the the law is clear. It requires that the treasury secretary or the irs commissioner of who's been delegated that responsibility shall deliver returns when their request. And what we've had now for much than years is an unwillingness to comply with that very clear law on now that we have this decision It's really question of just. What mr trump's next tactic is to try to hide the evidence that i think will show his tax evasion up congressman target on this this question of the handing over the returns when they are requested. Here's something from the doj decision where it says. The june twenty twenty one request seeks the same categories of information as the april twenty nineteen requests. But it covers each of the tax years twenty fifteen to twenty twenty whereas the april twenty nine thousand nine requests asked for tax information for tax years two thousand thirteen through twenty eighteen. My question to you is why the change in years requested. Why is that significant. Well i think it was just an updating of the prior request to bring it up to date actually thinks the request and we provided for this in the for the people act should cover ten years But the main point is that the committee has crafted a narrow legislative request and not as to be able to ensure that the audit that president trump kept using excuse is being conducted properly and not the result of his manipulation or intimidation of the internal revenue service. So chairman neil has used that as the reason for getting these returns he also in this updated request he filed in june mentions the very real possibility of foreign entanglements. We know the saudi money. The russian money that appeared to pour into some of mr trump's sub accounts and effect on legislation in congress that relates to taxes. So we have a good basis for getting it. It just a question now. With a court case pending of whether trump comes up with yet more excuses perhaps files on the junction. Try to block. What will eventually nap when this clearer. Law is implemented but which he is determined to delay as long as possible. I don't believe any president has ever tried so hard to hide so much. There is much as stake here. It's really important that we get to separation once we have it. That's not a guarantee that remains public in fact it would be a criminal offense if i were to disclose that information prematurely. It will be a matter of our committee looking at the documents in private. I'm sure they'll be a substantial amount of him and determining in a report whether any of this should be made public after we see what's there and how soon would that be well. It.
"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" Discussed on Biz Talk Radio
"And I've got some suggestions for his cabinet. He could have a merit. Minneapolis report would be its homeland Security secretary. Doctor pouch policy on with HHS. Van Jones is press secretary. A copy of Cortes of Energy secretary Bill on Omar, secretary of State. Hunter. Biden will be the commerce secretary of maybe happened for education. But I want to know who you think he put in the Treasury would be his father. Jim. Oh, my gosh. Yeah. Could be it could be his brother Jim. That would be a good one. I shudder to think who it might be. Is a matter of fact. Innate. There was actual name that came up. It was really scary. And I can't remember it scared me so much I must have. It must have blown out of my memory. I was about a month ago and Light. It isn't gonna be anybody that knows anything about the Treasury Department Money, Monetary system's O R. Anything of that nature is going to be somebody that knows a lot about taxation. And getting in debt and printing money. It's going to be somebody that is going to be naive enough to believe that we could maybe print our way or spend our way out of any problems that they create. It is going to be you bring up a very good and very important point. John in that we have been not myself included so obsessed with the thought of all of this that I haven't spent enough time just In a state of fear over who some of his Cabinet members are going to be, and I probably should. But it is. It is a great point for all of us to be thinking about, of course, just a mere fact. There's so much off that that he won't reveal whether it's a list of justices, or I mean he You know, he's got a lid on it everything. He's got a lid on everything. And it is that that is enough to scare and I don't want to think about economic advisors who that might be. The same thing with the Federal Reserve board, governors feet, putting people in there that would bring him back to the Weimar Republic. No doubt about it. I mean, everybody, that's there. Now it's pretty much gone. And so the thing that saved us in my opinion was your own pal. You know, I've always defended your own, pal. You've heard me even when the president was criticized. Thank you said he was that I said when he when he was picked that he was probably going to go down as one of President Trump's best picks. Little that I know. But it is It is scary to think about it because Federal Reserve is so critically important in these days credit I mean, I mean Federal reserve in our in our secretary of Treasury. I mean, yeah, Secretary of State That's going to be somebody you know as corrupt as he is, but You know those Secretary of Treasury and our Federal Reserve chair? Is critically important for the well being of America. I mean way. Don't stand a chance. We're not going to stand it. A bit more. Aggressive. The things that you are tracking and you are investing in what I mean by that is you are might be It sounds like you might be. In a position To be a little bit more growth oriented. Then then I would have you to be under normal circumstances for your age group. And that's what you that's how you have to account for that. I mean, you're not going You can't track that incoming. You could track it. But you know you contract that income as you might save it. And you can track it in that regard, but Unless it's going to be investable income. And you don't need to have it on the tracker. You need to have that you know, as as our savings, But if it's investable income, then certainly You have to move that over in the way you track that is If you go on to the buy list, and the vory top thing believes the top thing tonight it's the second one. I think it's the time tells you in the description of that. How to track cash cash that you know you're saving her setting aside and it gives you a description of how to do that by using a particular symbol, not by putting your money into it. But just using that. And for every dollar you have saved. You have one share because those shares are tracked as a dollar per share. And that will help you at least keep account of that. Money on your tracker so that it helps out your percentage is it gives you a better, accurate view of the percentages of your overweighted here, underweighted there, So you have the value of your portfolio. Correct. And that's how you would do. Yeah, Helpful. Let's look very hopeful. Good. All right, well, good luck, all of us. Hey, man, Did you pre vote? Did you vote early? Good. Okay. It was going to avoid the crowd. Well, I want my motive Vote counted as well. Amen. Amen. Thank you, lady. I sure appreciate you. Thank you for your partnership. You thank you. All right, God bless Let me go to Barry in Louisiana. Hey, Barry..
"treasury" Discussed on KOA 850 AM
"Treasury Secretary Stephen Yushin and White House Chief of Staff Mark Meadows met on Capitol Hill Saturday with House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer, who said This was the longest meeting we had and it was more productive than the other meetings, but there is still no new economic agreement with these $600 weekly unemployment benefit Running out staff will meet again today. Principles are expected to meet tomorrow. President Trump will be officially renominated later this month. But a spokeswoman for the Republican National Convention tells The Associated Press the media will not be there. The reason cited risk of Corona virus. Some delegations have privately raised issues with travel restrictions and quarantines imposed by some states when they return, 336 delegates were scheduled together in Charlotte, North Carolina, August 24th. Political parties usually use media coverage to spread their message to his many voters as possible if the decision stands Ends. It'll be the first party nominating convention in modern history to be closed to reporters that ABC Chuck's Iverson in Portland, Oregon, Saturday, another night of demonstrations, But after back to back nights of them going without incident, something attributed to federal agents leaving the area's Saturday's protests were declared an unlawful assembly. Police that demonstrators through glass bottles at them. You're listening to ABC News radio thymus for O to a Denver woman is recovering in the hospital after a car came crashing into her bedroom. Neighbors heard it happen and rushed to help. She was just pinned underneath perfectly.
"treasury" Discussed on The Peter Schiff Show Podcast
"More obvious than to our international creditors who need to look at the exchange rate between the US dollar and their own currency if I'm in Europe and I lend somebody. Dollars, I have to take my euros and by the dollar's and in ten years when I get paid back dollars and have to rebuy the euros. If I can only buy back half as many euros as I sold to make the loan, I've lost half my money. So I arrived at the same destination regardless of how the government got me there whether it was through default or through inflation. So what the rating agencies are supposed to be looking at when they decide what rating to put on US treasuries is, will the US? Treasury. Be Able to repay this debt honestly by raising taxes on American taxpayers or reducing government spending on things like social security, Medicare obamacare pensions, all that so that they. They can honestly free up the money to repay creditors or does the US government have so much debt and lack the political courage to cut spending or raise taxes or even the ability to do it because the American public is too broke to afford the higher taxes and therefore will the US government have to resort to a printing press to repay the debt and the answer to that is obvious. Of course, we will. We've already resorted to a printing press right now, the Fed is printing trillions and trillions of dollars right now, if it wasn't, we could meet the obligations on the existing debt. Let alone repay it or meet the obligations on additional debt. So clearly if standard and Poor's Moody's. Were being honest about the outlook for the US dollar, they would. Cut The rating on US treasuries right now because there's no way anybody who buys the US Treasury for tenure maturity or thirty matured even worse. If you hold that bond maturity, there is no way you're GONNA get your purchasing power back. There is no way you are going to be whole and the little teeny bit of interest that you get. At one percent or half a percent or whatever it is. That tiny bit of interest will be insignificant compared to the purchasing power that you lose. For holding that bond immaturity. Ridiculous, these bonds are junk. They are more junk then to subprime mortgages that were dunked, but that were rated investment grade, and so maybe though just fish just you know saying something that should be obvious. Right? It's like the emperor's new clothes. You get one little kid that says, Hey, wait a minute. I can't see the the suit guys naked. Maybe. Somebody's saying that is enough. So maybe this could be like an emperor has no clothes moment for the US dollar, most likely not because I. Think it's GonNa take. Something more significant than this to get people to see what should be obvious. But eventually, it will happen, but it clearly is a negative and I think it'll be very interesting to watch the markets react on Sunday because they didn't get a chance to react today because the downgrade or of the outlook took place after the clothes you know despite the run up in the price of gold and the extremely bullish outlook watching CNBC again. All I really here is more reasons not to buy Gold Rick Santelli who is one of the guys on CNBC actually. He's the guy that really got tea party started although drunk the trump kool-aid, and so he kind of like dumped his t away and and became a real trump backer..
"treasury" Discussed on 550 KFYI
"The treasury department announced that they they expect most Americans who are eligible for stimulus checks under the cares add to to receive pay by the end of this month several categories of people however will not be getting payment under the corona virus relief package while I thought every American was getting the money you know that was too good to be true right let me see here anyone claimed by someone as a dependent no money for you a person listed as a dependent on someone else's tax is not eligible for their own stimulus check this includes both children and disabled or elderly adults whose own children maybe claim them as dependents you don't get any money while the cure's act allows parents to collect five hundred dollars for each child that only applies to children sixteen years old or younger that means that dependents who are seventeen years older do not qualify even if they're still in school and if they do not file their own taxes they cannot get their own check he cares that gold said that non resident aliens are not eligible for for checks but we have the Democrats trying to change that lickety split well no so far I'm cut out my kids are grown even though I got one in college you wonder you know that there's still come as dependents because he was just getting ready to get off the it on his own but here he is knoll cash now hi your income individuals you get Jack to the theme of the checks are based on amounts of twelve hundred dollars for individuals and twenty four hundred dollars for joint filers but they decrease for those whose adjusted gross incomes of past certain thresholds certain thresholds for individual filers that mark is seventy five thousand dollars for joint filers that's a hundred and fifty thousand dollars so if you make more than a hundred if you when your wife may more than a hundred and fifty K. no check for yeah no stimulus oh my goodness they see there's some other folks here were kind of kind of getting frozen out of the holes dhimmis packages well but this is a different the treasury department are still saying they expect for for most Americans or the Americans that are eligible to be getting their checks in the next two weeks they said that they will mail notices a payment to everyone within fifteen days of their payments being sent so not only are you gonna get that check in the mail or get a direct deposit but you also have the federal government saying that they're going to make sure that they give you a notice that the cash is going out as well well that's great that's great once again I I've made as I'm Ross I'm too rich in my kids are too low some frozen out man I'm frozen out I can't get stimulated by the by the federal government in this time of panned Dimmick so you've reached the point where you're good I I I wouldn't say that yeah of course I'm good but I'm an American I guess I'm an American I'm still working right even though I'm still single if you make over the threshold then you're not eligible for it so I would take that money and go right down to my favorite restaurant and spend it W. that would be kind of boosts the economy will I'll why do rich people I'm not saying I'm rich but I am wire which people not getting paid why are we we we had the government mess with our lives to I'm going to get pay I was a bit of money or at least talking about before this is what upsets me or I would take the payment in form of a tax holiday I'm still L. advocating for the tax holiday and the suspension of the employment tax this is something that can I just I just got to get him keep I gotta get hanky bout this and I'm not against folks get money directly that I think that's much better they give it to the state government's whatever happened then dispense it and but I I love the fact that it's come a right to yeah but should know when they first proposed it is far this being big and bold that it was going to get clipped back all Mnuchin well of course we're not going to give in this body to millionaires well why not that's my question why not they'll spend it they will spend debt we're talking a bit more about the stimulus checks but not just the stimulus checks what the Democrats how the Democrats want to spend the money in this time of crisis now one of the things that we have learned we could do that it did at seven forty eight when it things we've learned is that we need to be prepared we were just talking about that if this ever comes around again a some type of government shut down some type of stay in place order we want to make sure that things are in place and that's why you need to talk to my friends at sunny energy sunny energy has helped thousands of homeowners protect themselves by making their own energy and storing it so if the group fails for any reason that families are protected you could check out my my video on five fifty K. up why is.
"treasury" Discussed on Bloomberg Radio New York
"Closely with the treasury we expect to have a program up on Friday that will be up and running that will cover half of the private workforce I encourage all small businesses to take out these loans because if you go and hire back your workers for eight weeks you will have a forgivable loan and the government will pay for that so again it is very important for us that workers are protected and this is a major part of the package Hong Kong chief secretary Matthew Cheung says its government will introduce a second round of financial assistance for businesses affected by the corona virus he says the subsidies from the epidemic prevention fund would aim to protect workers on Friday the city's government imposed measures including banning public gatherings of more than four people and closing cinemas gyms and arcades after reporting a surge in corona virus cases meantime in Australia the government will announce further income support for workers today it's part of a third stimulus package to help offset the negative impact of the epidemic on the regional economy Australia's treasurer Josh Frydenberg also announced tighter restrictions on foreign takeovers this will ensure all proposed overseas investment in Australia businesses will trigger government scrutiny regardless of the value the CFO of Jefferies group has died from complications tied to corona virus we get more from Bloomberg Denise Pellegrini Broadbent was fifty six and he had been CFO at the New York based financial services company since two thousand seven previous to that he did a long run at Morgan Stanley Jefferies CEO rich handler and president Brian Friedman say they're heartbroken and will miss Broadbent decency calmness and what they say is the help navigate good times and bad Jefferies is one of the largest of the independent banking firms with headquarters in New York and broadband Steph is one of the first among senior Wall Street executives from the pandemic Denise Pellegrini Bloomberg radio all right we're coming up on thirty four pass here let's get to Hong Kong Brian Curtis is looking at markets so we have the three days in the states last week where the equity market was on a tear and maybe that was creating a little bit of optimism that we were close to putting in a bottom that was maybe pre maturity thank you joked about a bull market starting when it was hit twenty percent upper I mean people kind of chuckled at that because it seemed rather apparent that you know that you're going to shop around a bit and maybe go sideways maybe even retest the lows and and that may be what we're in the process of doing although although we you know we we don't know exactly because if there's any sign that infections are peaking then you may see investors way back in and it may be that this is another dip that that you want to buy as this shop around I mean it was a very big moves last week and it sent a very strong signal so you know if you see a pecan infections make it more that to today not too many signs of any real positivity only perhaps that the president was saying that you know you can have a peak in a couple of weeks but that's really just the president being optimistic probably more likely than anything in the data are the SX is up today it's up a little more than two percent so that's the standout just about everything else is down about three percent want to spend a moment on a pretty important story that the W. H. O. says it is working directly with health experts in Taiwan now if you're like me you you saw this video go go viral yesterday and this was at my old shop or T. H. K. they were doing an interview with Bruce Aylward from the WHL and it appeared at because the reporter had asked the question about whether Taiwan could get membership because China blocks Taiwan's membership anyway it looked like they just disconnected the the line the W. T. the W. H. O. a representative Bruce Aylward had just disconnected the line up and it got a lot of attention on Twitter up later when the call was reconnected the presenter did ask the the executive to comment on Taiwan and Aylward said that all areas of China have done well and he wished Hong Kong lock in its efforts and then the W. H. O. today saying it is working with health experts in Taiwan so kind of a major story they're quite interesting right now we've got oil prices down twenty dollars and fifty five cents so that's down almost five percent the yield on the ten year sixty four basis points so a lot happening in these markets mostly risk off today throughout the Asia Pacific guys back to you thank you very much from a president Donald Trump says the peak of coronavirus cases will hit in the next two weeks at Baxter is covering the story it yeah that's right Julie and therefore he says he will extend the separation policy the better you do the faster.
"treasury" Discussed on KTAR 92.3FM
"Treasury department to deferred tax payments without interest or penalties for certain individuals and businesses negatively impacted the president also asking Congress to help with uncovered sick leave pay and a payroll tax cut in the field ABC news Washington additionally he's requesting fifty billion dollars in low interest small business loans now back to the travel ban on flights from Europe entering the U. S. starting tomorrow the acting deputy secretary of homeland security says it only applies to foreign nationals who have been in corona virus affected areas here at home the state health department director cara Chris says private labs are developing and even offering it cobit nineteen tests in Arizona on a limited basis and she says a large public events like baseball spring training don't need to be canceled we are working right now with the CDC on brand new community mitigation guidance that they just put out and we are not at a point where we would recommend those types of things governor Ducey's public health emergency declaration provides more money for health care and medical supplies and stops providers from price gouging for testing and treatment I'm KTA ours Jeremy foster the Phoenix Suns season may be over even though seventeen games remain on their schedule the NBA last night suspended it season after Rudy go bare of the Utah Jazz tested positive for the coronavirus Doug Franz with ninety eight seven FM Arizona's sports station told us this morning things are really starting to get real you are dealing with arguably the greatest athletes in the world the healthiest human beings the entire species of mankind has developed and they're sitting around with mass trying to make sure that they're safe because they have one teammate that's got it I don't think you can get more real than that now the NC double a is moving forward with March madness tournament an empty arenas the NHL says it's advising teams not the whole morning skates practices our team meetings today but so far has not canceled any games which means the coyotes game that he will river arena tonight appears to still be on live in the new center Jeremy foster KTAR news in your wallet maybe taking a beating from the corona virus trading on the stock market halted this morning almost immediately after the opening bell K. T. A. R. as in cross is going to have the details coming up next all right here's Peter Dan with some ugly details on your commute this morning from the valley Chevy dealers traffic center but the overall it's not been as bad as it could have been very surprised that it's not been a lot worse now granted some of that heavy rain hit us a little bit early and right now this is usually the kickoff of the heaviest stretch of traffic so we still have some work to do but right now these right times could be a lot worse twenty seven minutes north about one oh one from the Santander except Frank Lloyd Wright Boulevard twenty five minutes westbound sixty from signal view to the tent the west bound to to read about freeways a thirteen minute commute from the one on one price to the fifty one and eighteen minutes going up the I. ten westbound from the Santander the seventeen split I can't emphasize this enough seriously gets very nasty outsiders of lower visibility with the fog is and there's some very wet roadway conditions as well very slippery and we're getting a few racks we've got one over on Shea Boulevard at Frank Lloyd Wright Boulevard and also Thomas west of thirty second street the traffic report.
"treasury" Discussed on SuperTalk WTN 99.7
"They had a treasury auction this week treasury auction Mr here fine low hills a couple things I thought were interesting about this we'll spend a lot of time on it but it just does Ameritech a couple minutes U. S. treasury department sold thirty year bonds at a record low yield on Thursday highlighting investors demand for longer term debt hello this last part and its benefits to the government it is the government allows it yeah we get as free money our low cost money anyway thirty can you can you imagine lending the federal government money and knowing you weren't going to get more than a two percent return on that's it thirty years and one day a long ago there was a three percent now said two percent treasury sold nineteen billion dollars for the V. thirty year bonds Thursday afternoon two point zero six percent return now how many years have we been hearing that all interest rates are going up how many mortgage commercials did your interest rates going up you better hurry interest rates are going up yeah that's been going on for a long time now this is you don't want a particular group of five investment managers is got to be really tough on into it he's I got insurance companies insurance companies got to be fit to be tied they have got to be fit to be tied because a lot of the pricing of their product lines are based on that not just in New ides for life insurance you know you've got to PNC products property and casualty products you've got other types of insurance products are based on interest rates and the insurance companies have got to put the reserve someplace in other words money that they don't need right now they have to put it someplace and they basically have to put it in something that's guaranteed which would be government bonds and it's gotta be hard an insurance company to market high returns with a straight face and with no risk when you have the lowest risk investments paying two percent that's just got to be hard I mean you got to be pretty good to be able to to market that kind of stuff with a straight face now this is the fear of the corona virus will slow global growth has helped push down treasury yields in recent weeks so that's part of the reason L. so in essence when you're looking at a purse are possible perception that in the future growth rates are going to be lower which is interest rates and inflation rates are very very tidy each other historically you know as as long as we've had inflation anyway add inflation forever you know that's more of a recent phenomenon recent as it is in the last hundred years there was no such thing as inflation prior that right now we have inflation and interest rates are very very much tied to that now investors have also grown more comfortable the article says buying thirty year bonds because they view them as insurance against losses in riskier assets now here's the problem with that is you have just shifted the type of risk that you're taking your dealing with interest rate risk now if interest rates do go up bond prices go down and you can have this back and forth but you know even though we've been talking about interest rates going up for quite awhile now and they haven't really gone up they've come back down but there have been some pretty bad shocks if you look back at the last several years if we look at like two thousand fourteen for example we went long term government bonds went down five percent and then and then you had to five percent between two between two thousand sixteen and two thousand seventeen there was an over five percent downturn then you an eight percent downturn in these bonds in the year two thousand in an eight percent downturn in these bonds in nineteen ninety five so these things are not without risk just because they were talked about as being low risk investments because of this interest rate you can have pretty significant declines in the value now secretary Steve Mnuchin last September I he's he's basically saying that we are considering this is what they're talking about issuing a fifty year bond I mean you think about it from the government's perspective that would be really smart if investors are sitting there going man I wanna put my money away for thirty years at two percent all of your money as long as we can it also that we have this guarantee you know this this big shot in the arm and endorphin kick of really low interest rates for as long as we can get it if the government and you know incidentally I've talked about this before but you think about a widely seen why does the government really have this thing about annuities lately with the most recent legislation with retirement bills and putting into it is a retirement plans to get lots of access to lots of really really low interest money yeah so what happens is the the the she have been denoted companies that have to buy these bonds so if people will buy these products there's lots of money flowing into them there's lots of money you got lots of supply with what demand you know there's there's demand at the government level but the if the demand has increased the cost of money goes down hence low interest rates so as much as the government would like to push for people to buy these products you got to remember that there is a reason that they want you to buy these products and it is a very self serving reason really helps them out quite a bit with low access to low cost money that's the whole idea and you know those of course with some of the other news this week the other thing out there right now is the dollar surprise surge challenges the stock markets rally I thought this is interesting as well from the Wall Street journal investors worried about the impact of the corona virus again it's a big thing in the news right lately right it's it's just fascinating how the news keeps coming out that it's worse and worse every time because all of a sudden now the Chinese government's kind of start and then they throw some leaders out in all its past couple of days it's been very interesting some of the political news coming out of China but the corona virus in the world economy might soon have to confront another challenging corporate profits the strengthening dollar well it you know because this is the thing that were preaching here on the show is don't get overly complacent with where is the market that are done well recently and I say overly complacent because as I was doing at the speech in Austin this week I was telling people Hey look guys we were doing some research on this sixty percent six zero sixty percent of money right now if you look at mutual funds sixty percent of money is sitting in funds that are investing a large blend and large growth U. S. stocks one area the market represented by the Dow and the S. and P. five hundred and the nasdaq you look at the angle wait a minute that's crazy sauce that's a lot of money sitting in one area the market and that could come crumbling down just when you least expect it because all of these things in and even trump's going strong dollar you got a strong dollar we can explore stuff and that's exactly what he's getting he's getting what he doesn't want well you know what actions might he take to actually offset that who owns what actions we the government take because a stronger dollar makes it more expensive for companies bring home foreign sales and you know with it is interesting how can I effective for markets you know memory can even affect emerging markets because you know emerging markets have debt that they've gotten they've got to pay it back in dollar denominated debts and and you got it it is seen in its intensely complicated is basically what I'm saying how markets work together you can't predict this stuff there are too many moving parts and hence in investor that things are gonna figured out is walking on some really thin ice his expectations are out of alignment yeah I cannot figure it out no it's like say the guy that I was talking to after the speech that had the apple stock and and all I could think of is you have no I don't have a lot of times talk to us like you have no idea how little you really know about that company and I'm not I I like I like apple I there's a lot of stuff I like that they did they put together but they're they're getting some serious competition from other places all over all over the place and you could have a leadership change you could have you know all of a sudden you know some of these companies could grief their competitions coming out with a folding screen that you know of when when all of a sudden do you have as graphene you know that what I've talked about on the show before becomes mainstream I don't know when it's gonna become mainstream if you don't know what that is I've talked about before we have this graphene you can literally take like a it's like a piece of paper and folded up into his little tiny piece of paper and then unfold it's a screen I mean that's you know some of the technology that could be coming to a store near you well you know if it's another competitor that actually comes out with a viable it's a Samsung has that for you know folding screen right now that seems to be catching some catching some interest of it of people that are buying phones but you know you just don't know and that's just one thing demand for product there's so many other things out there you know could be technology that act actually trumps the existing technology in terms of speed and well all of a sudden now we're off to the races and a totally different company comes out with something that's better you know we we as you know it was it wasn't Kodak the inventor of the digital camera that actually benefited the most from the digital camera well apple actually stole the mouse from Xerox shares Eric's created the malice so just didn't know what to do with it yeah yeah look at look at the whole windows last form yeah exactly there's that's all that's a foot a fascinating story about how that all came about it wasn't the inventor of the cell phone that benefited most from the cell phone in my I mean how many of you running around with a motorist cell phone Microsoft what the their original dos operating system for fifty thousand dollars why do you know the number that's right Microsoft paid for the original operating system so hence it and and that's just one thing I mean you don't know yeah eight I think back to some of the companies that also came out we found out that their books were being cocked you know back in history we've looked at companies that that has happened to we looked at where maybes management was hiding information maybe losses came to light that nobody expected it there's so many different things so many different things that you just don't know about a company if you're investing in that company or even about an industry you don't know what changes will take place that make an industry more obsolete I you know look at people that we're investing heavily in the energy and industry and all of a sudden news came out and all this on those you can almost you almost couldn't give away those funds that we're investing in energy stocks a few years ago and it's still no you do not know what could be around the corner now another thing I'll I'll do the rest of the segment number let Iraq go next because I just have a few quick things that I want to hit kiddie tax something I don't talk about a whole lot but you know this is one thing that happened that that the call a lot of people by surprise a few years ago back in in two thousand seventeen now in two thousand twenty you may have heard this clients are going to be retroactively faced with the choice between tax systems for two thousand eighteen two thousand nineteen in a reversion to the old system going forward so what happened is I think a curve ball is thrown at us two thousand seventeen tax reform and this really bug me when it came out but basically what happened is you have under an income you know miners so you got this my account uniform transfers to minors account and that account is taxed based on the rates applicables to trust in the states that's what they came out with now for those of you that have those accounts and if you have a fairly decent size account that's a big pain a big pain because of you know much about trust taxation you get up to the highest tax rates in a pretty big hurry L. literally you get up to the thirty seven percent tax bracket at twelve thousand nine hundred fifty Bucks that can be a huge issue you know for an account that is of decent size well prior to the tax reform what happened is income that was subject to the kiddie tax you know you have this on earned income that was being paid by miners was taxed at the parents' top rate now there is a reason for that is because you don't want people going and taking money out of the parents tax rate and then handing over their kids just have their kids taxed at a lower tax rate so basically said yeah you're not going to trick us here at the IRS we were born at night but I went last night we are going to tax this account that you've where you've given money your kids we're going to tax it at your rate I I I understand he said to me one day he said you know our Uncle Sam expects you to steal he just doesn't want you to think he's stupid exactly exactly so so in essence what happened recently with with some changes is.
"treasury" Discussed on WNYC 93.9 FM
"Treasury now is the role of it's it was men and women who work and leaving electric Morrison said coal exports is what has made the Australian economy globally competitive he accused legislators who are pushing for reductions in greenhouse gas emissions of stifling Australian jobs and he also suggested that his opponent suffer from a mental disorder our offices have an ideological pathological home there's not going to be officially Mister break out but that's the mentality that afflicts stars opposite how the Australian National University says the polarization around climate change has kept the country from moving forward not just to try to reduce emissions but to put in place additional coping measures like beefing up fire fighting budgets and bringing in more water bombing airplanes what's really extraordinary in Australia is even though the politics are actually very toxic and problematic most Australians want action on climate change a poll last year from allow institute a think tank in Sydney found that Australians listed climate change as the biggest threat facing the country in the coming decade and ninety percent of them said they wanted the government to take action on the issue the town of control of park on the east coast south of Sydney was ravaged by the wild fires that flared over new years more than eighty houses were destroyed in two people died in the town the community halls been turned into a relief supplies station tables are piled with clothes toiletries food problems of water there's still no power switch generators running out front to keep icing milk cold in a refrigerated shipping container deputy mayor Patricia white is visiting the community center for the first time since the fire I live about thirty case up the writers I got stuck in the files as well but I've been itching to come down to this community because they like family to me why it's an independent who considers herself right of center she's frustrated by how difficult it is to get people across the political spectrum to compromise during debates about climate change on the city council they don't want to accept somebody else's opinion she says the city council had a huge fight over whether to convert all municipal buildings to run entirely off solar so do I say to right hi all I'm not collecting the rubbish for United I'm I'm gonna click the rush of the three weeks because I need to save money because on a personal riff on the toilet you know you've got a balancing act and how do you do it she said everyone needs to back off in her words an inch or two because nearly everyone in Australia accepts that climate change is a real problem but it's an abstract into some terrifying problem and agreeing on exactly what should be done about it right now is proving almost impossible Jason Beaubien NPR news New South Wales Australia Homer wrote about Amazon in the immediate but for centuries people thought yeah just a mess now a new discovery helps prove there really were women warriors twenty five hundred years ago this shows that women of childbearing age and even up into their fifties were participating in battle when necessary it also shows that very young children were trained to ride horses and shoot bows and arrows and wheeled other weapons exactly like the police and then lose interview tomorrow on weekend edition Sunday by telling your smart speaker to plan B. R. member station by arrange military said today that it unintentionally shot down in Ukraine an airliner just outside to round on Wednesday basic investigations are continue.
"treasury" Discussed on C-SPAN Radio
"The secretary of the treasury and the secretary of housing and urban development both of whom have just submitted housing finance reform proposals to the president. as well as the director of the federal housing finance agency who serves as the regulator and conservator of Fannie Mae and Freddie Mac. I want to thank each of you for coming to the committee this morning. last Friday marked eleven years since the government bailed out and put Fannie Mae and Freddie Mac into conservatorship. where they remain today. prior to two thousand eight the two government sponsored enterprises held just forty five cents in capital for every one hundred dollars in mortgages they guarantee. now the whole just nineteen cents. after a historic two hundred billion dollar bailout from the taxpayers. eleven years later these systemically important companies continue to be too big to fail and are even more leverage than they were before the financial crisis and taxpayers inevitably remain on the hook in the event of the next market downturn. in March president trump signed a presidential memorandum directing the department of treasury and the department of housing and urban development to develop a plan for administrative and legislative reform of the federal housing finance system. many of the legislative recommendations in the plans that were released on Thursday are consistent with my outline to fix our housing finance system. including attracting private capital back into the market protecting taxpayers against future bailouts and promoting competition. as well as preserving certain important incremental reforms that have already taken place during the conservatorship including a robust transfer of credit risk the single security and common securitization platform and loan pricing that does not very based on lenders size. the status quo is not and has not been acceptable and my strong preference remains to fix it through comprehensive legislation. five years ago this committee demonstrated that is possible. we came together to advance a comprehensive solution on this topic. this year I released my housing reform outline which builds upon many of the same principles of those previous efforts. it sets out a blueprint for permanent sustainable new housing financing a system that protects taxpayers by reducing the systemic too big to fail risk posed by the current mortgage guarantors. it preserves the existing infrastructure in the housing finance system that works well well significantly increasing the role.
"treasury" Discussed on Slate Money
"Okay. So Anna, the office of foreign assets control. Oh, fuck this is leading slate money this week because it's so amazing. And this is going to be the best conversation about OPEC ever. But I guess we should probably stop by saying what is fag. It's the treasury, basically. And the treasury department is not just. A finance ministry like any other finance ministry in the world. It's also the entity which looks after the entire dollar is world anything which is done in dollars. And the thing in the world comes under the purview of treasury. And what that means is basically every company in the world that operates internationally comes under the purview of treasury and treasury decides to slap sanctions on you and say you're not allowed to deal with that company. Then that company essentially gets excommunicated from the entire global economy. Treasury can do this no other finance ministry can do this treasury hasn't extraordinary amount of power, and the they used to do this is called OPEC when you say, no other finance ministry. You mean in the world in the world. Okay. So only it's is because the world runs on dollars because label comments runs on dollars because every single global company. Needs a dollar Bank account. The treasury has that degree of control. So every Bank in the world. Alternately has to do treasury says every company in the world alternately has to do treasury says including pet visa, which is the state-owned oil company in Venezuela. Now, the White House, you know, John Bolton and all of these super horse in the White House of very aggressively cracking down on his Walea and Pont of that crackdown. They have decided that they are going to essentially excommunicate PETA face if from the global economy, if you own pedal, visa bones. You can't sell them. There's no grow Cadila, basically anywhere in America or any Bank that you. I mean, theoretically without settling something to buy them. If an American, but you need to sell them to a non American and that and you'd need to find some kind of broker dealer to broker that deal and has no broker dealer. Who's going to touch that deal? We'll be interesting to see what happens because they're in. The NB the J P M index, and so at a certain point, there's no liquidity, and you can't access them. Then theory, they should not be in the NBA. But if you're tracking Ambi, and you own them you then can't sell them. So it's a conundrum it's tough. And we don't know one those how long is this going to last though, there's a reasonable expectation that it will probably lost long as Madero has power in Venezuela. Should we explain a little bit? Why the United States is slap so Chevy sanctions? Yes. I mean, I can try basically Madero was reelected for a second term. Most people think he basically stole the election. He's real bad guy. Bad leader. A lot of Venezuelans are essentially starving. But countries in chaos this other guy dope lie. Dell has declared himself the leader and the United States took the rare step. It seems like a rare step for the twenty nineteen of saying. Yeah. This new guy is legit Lee. Ter-, and then they place all these sanctions on Minnesota to sensually force Madero out. Of my thesis, which I'm going to try and flesh out a little bit tomorrow. When when my news comes out is actually edge sign up sign up. Yeah. Okay. I can plug in. It's a good news. I'm gonna I my my slightly inquiry thesis, which with any luck, we'll be slightly more co-8 by tomorrow is that the Americans really in charge now one of the data points, which supports this is the the US immediately recognized Guido as the interim, president of Venezuela within minutes of him swearing himself in and then the rest of the world, I mean with the large and important exceptions of Russia and China, but like Canada, followed after about twenty five minutes like most of the rest of South America, followed within like, you know, a few hours, and even now the European Union has done the same thing, the US leading everyone else follows this is actually really significant if you look at.
"treasury" Discussed on Liberty Talk FM
"To invite you to checkout. Smart cash. Smart cash is of course, a tow currency. It's peer to peer digital currency is fast secure it's easy to use. But of course, most of them can claim that what is it that makes smart cash different? Well, it seems like there's a lot of libertarians behind smart cash, which I think is one reason why it makes it pretty cool because liberty minded folks tend to know more about economics than a lot of other folks out there. So it's good to have people have no thing or two about economics running a currency. But beyond that, they've got some cool features built into smart cash. Like, these smart hive project treasury where the rewards from the blocks that her mind and smart in smart cash. Some of those. Rewards are added to the treasury, and then people can make proposals to the treasury say, oh, I wanna do X with the money that you know, is here. And so one of those proposals was made by free talk live last month and to propose that they advertise with free talk live and a good chunk of the folks over at smart cash voted for us with smart cash everybody who has smart has a vote. If you've got one smart, you have one vote more than one smart you've got more than one vote. So that allows everybody to participate. Unlike some of the other voting systems on some of the other cryptos where you have to have a bunch of that crypto in order to participate. But smart cash anybody can and they're smart rewards, which actually reward you for holding onto smart cash long-term holding are key to the project's success. So they wouldn't encourage that behavior by allowing anyone who has at least a thousand smart, which that's not a lot of money right now, you can get a thousand smart for under twenty bucks. So if you've got at least a thousand smart, you're holding on to that in a wallet that you control the. Keys for and you hold it for at least a month timeframe, and you don't make any outgoing transactions from that. Or from from that while period. No matter what the amount is as long as it's over a thousand you'll get smart rewards every single.
"treasury" Discussed on The Jason Stapleton Program
"Dying. Argument I've ever heard. Well, it's the treasury secretaries name on it all write my name on his hood. That's my car now. Okay. All right. Well done. Okay. Let me see. Let's see where I was here. Okay. That is affecting the question of inflation, the question of promises outstripping capacity to redeem promises and hints losing credibility as promises the credit of credibility is the credit of credit not to mention of credo or faith. That's a parenthetical thought. I don't know why that's even there. This is precisely why lawyers accountants and economists schooled in the simple mechanics of public finance always tell you the relevant constraint on spending is not some non existent fundraising constraint. But the inflation constraint also known as the resource constraint. Okay. So what he's saying is anybody is says people who actually deal in this economists who were schooled in public finance tell you that there is a constraint on spending not because they can't print enough money. But because you if you do you're gonna have very very serious consequences in doing that. Now, they're absolutely right in saying that he of course, disagrees and apparently a mountain. Historical evidence is is untrue to like when the people have done this in the past. What he's suggesting clearly, that's you know, that this was just a blip is this guy is is the case in point example of why macroeconomics is akin to astrology, right? Okay. Let's keep reading okay. So the truth of the resource constraint is that money can be publicly issued in spent only at a rate commensurate with new goods and services supply, if the money supply grows too rapidly for goods and services to keep up. You.