Podcasts about Treasury

What if your firm could cut its tech stack in half while delivering faster results to clients? In this episode, Blake and David explore the consolidation revolution in accounting software as practice management tools secure massive funding rounds. They also break down how private equity is reshaping the profession's business model, with some firms now prohibiting CPAs from using their credentials in email signatures. Plus, discover why a proposed Florida bill eliminating the Board of Accountancy could have nationwide implications for licensed professionals. Learn why shorter turnaround times—not lower prices—might be your most cost-effective path to happier clients in today's AI-transformed landscape.SponsorsOnPay - http://accountingpodcast.promo/onpayRelay - http://accountingpodcast.promo/relayREFRAME 2025 - http://accountingpodcast.promo/reframe2025 Payhawk - http://accountingpodcast.promo/payhawkChapters(01:14) - Today's Topics Overview (03:53) - Travel Stories and Observations (05:14) - Conference Highlights and Industry Insights (16:50) - Florida CPA Threat and Licensing Issues (21:21) - Private Equity in Accounting Firms (39:39) - IRS Workforce Reduction Update (44:04) - IRS and ICE Data Sharing Agreement (45:42) - Proposed Bill to Regulate Tax Preparers (47:37) - Americans' Perception of Tax Fairness (52:16) - Improving Client Satisfaction in Tax Services (01:01:36) - Consolidation in Accounting Tech: Xero and Bill.com (01:03:43) - Gusto Expands into AR and AP (01:12:02) - The Impact of AI on Accounting Jobs  Show NotesFirms with AI report higher per-employee revenue vs others https://www.accountingtoday.com/news/firms-with-ai-report-higher-per-employee-revenue-vs-others50% of finance teams still take over a week to close the books https://www.cfo.com/news/50-of-finance-take-week-to-close-books-ledge-month-end-close-time-cfo-three-day-close-myth-/746085/Shorter Turnaround Equals Happier Tax Clients https://www.cpatrendlines.com/2025/05/shorter-turnaround-equals-happier-tax-clients/Less than half of Americans believe federal income taxes are fair, Gallup poll finds https://news.gallup.com/poll/taxes-fairness-poll-2025.aspxFlorida bill threatens to eliminate Board of Accountancyhttps://www.goingconcern.com/florida-bill-threatens-to-eliminate-board-of-accountancy/13 regional accounting firms unite under Sorin brand backed by private equity https://www.accountingtoday.com/news/13-regional-accounting-firms-unite-under-sorin-brandBennett Thrasher rejects private equity, champions independence https://www.accountingtoday.com/news/bennett-thrasher-rejects-private-equity-champions-independenceInterest in accounting rising among students, CAQ survey finds https://www.thecaq.org/accounting-interest-students-survey-2025/Treasury to stop issuing and accepting paper checks effective September 30, 2025 https://home.treasury.gov/news/press-releases/paper-checks-phase-out-2025IRS and ICE reach agreement to share immigrants' tax information https://www.irs.gov/newsroom/information-sharing-agreement-ice-2025Bill to regulate tax preparers introduced in Congress https://www.congress.gov/bill/tax-preparer-regulation-2025Canopy raises $70 million Series C for practice management software https://www.canopytax.com/blog/70-million-series-c-funding-2025Thoma Bravo invests $100 million in HubSync for accounting technology growthhttps://www.hubsync.com/news/thoma-bravo-investment-100-millionXero and Bill forming alliance for embedded bill pay in the US https://www.xero.com/blog/2025/05/bill-partnership-announcement/Melio to embed payments for AR and AP inside Gusto https://www.melio.com/blog/melio-gusto-partnership-2025Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser:

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links-Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.0:00 US Weather3:42 Biofuel and Tax Bill5:41 Iowa Eminent Domain8:54 US Loses Soy Market Share10:54 China Soybean Import Forecast12:13 Inflation Update

In a sweeping breakdown of today's most explosive revelations, this exposé pulls back the curtain on what could be the largest financial fraud in U.S. history—with estimates reaching up to $1 trillion a year in stolen taxpayer dollars. Once dismissed as conspiracy, Elon Musk's warnings about the Treasury's untraceable payout systems and lack of oversight are now being eerily confirmed by congressional testimony, internal whistleblowers, and a reluctant 60 Minutes segment. At the center of it all is DOGE (Department of Government Efficiency), accused of uncovering systemic corruption, battling internal sabotage, and facing fierce backlash from political elites and media alike. Meanwhile, the narrative war intensifies with the media spotlighting immigration hypocrisy—vilifying white South African refugees fleeing documented violence while defending illegal immigrants with criminal records. This is not just about fraud. It's about who controls the narrative, who benefits from the chaos, and what happens when the truth can no longer be ignored. Strap in—this is the story they didn't want you to see.

In a stunning shift, legacy media is now echoing Elon Musk's long-dismissed warnings of massive government fraud. This explosive segment reveals how over a third of federal Treasury payouts may be fraudulent—amounting to nearly $1 trillion a year. From Scott Bessett's bombshell testimony to 60 Minutes' reluctant admissions, the truth about federal spending abuse is coming to light. Also explored: the media's selective outrage over South African refugees vs. illegal immigration. Why is this all surfacing now? Because the cover-up is crumbling. Don't miss what could be the biggest accountability scandal in U.S. history.

A massive bombshell is emerging as Elon Musk's long-dismissed warning about $1 trillion in annual federal fraud gains new credibility—this time from none other than 60 Minutes. After years of skepticism and mockery, recent testimony from Treasury officials and fraud experts now supports Musk's claim. In this eye-opening exposé, we break down why the media is finally changing its tune, what was uncovered by new oversight systems, and how decades of unchecked payments may have funneled billions to unknown actors. From the Pentagon to transnational crime rings, this story connects dots that mainstream media ignored—until now.

Dr. Linda Kimberling—Retired Federal Executive, Educator, Business Owner, Author, Foster Ministry Founder, Mother, Grandmother and QuilterDr. Kimberling overcame early-life obstacles to serve the American public for 30 years in various leadership and managerial roles in the U.S. Government. Her tenure included Senior Executive Service member for 10 years in positions of Assistant Commissioner and Chief Financial Officer at Treasury and Department of Energy. She holds a doctoral degree in Organization and Management, a MS in Economics and a BS in Business and Education. As an educator, she served on the faculty at Regis Jesuit University and Southern Illinois University teaching Graduate Studies in Ethics, Leadership and Economics.She combined her experience in executive leadership, her education in organization and management, and her experiences as a Christian leader to author the book: “Faith Based Leadership–When the Odds are Stacked Against You”.Currently, she is the business owner of Log Cabin Quilt'N Sew offering long-arm quilting services and fabric to her customers. Log Cabin Quilt'N Sew fulfills her longtime passion to create and gift quilts to foster children currently in child placement facilities. Through the help of 70+ women across the country, “My Very Own Quilt Ministry” made and gifted over 700 quilts to foster children.Together, she and her husband live in Castle Rock, CO. They have 5 adult children and 6 grandchildren that keep them busy!www.logccabinquiltnsew.comhttps://www.facebook.com/logcabinquiltnsewhttps://www.instagram.com/logcabinquiltn/*************************************************************Judy is the CEO & Founder of the Judy Carlson Financial Group. She helps her clients design, build, and implement fully integrated and coordinated financial plans from today through life expectancy and legacy.She is an Independent Fiduciary and Comprehensive Financial Planner who specializes in Wealth Decumulation Strategies. Judy is a CPA, Investment Advisor Representative, Life and Health Insurance Licensed, and Long-Term Care Certified.Judy's mission is to educate and empower her clients with an all-inclusive financial plan that encourages and motivates them to pursue their lifetime financial goals and dreams.Learn More: https://judycarlson.com/ Investment Adviser Representative of and advisory services offered through Royal Fund Management, LLC, an SEC Registered Adviser.The Inspired Impact Podcasthttps://businessinnovatorsradio.com/the-inspired-impact-podcast/Source: https://businessinnovatorsradio.com/the-inspired-impact-podcast-with-judy-carlson-interview-with-dr-linda-kimberling-owner-log-cabin-quiltn-sew

Throughout the campaign of 2024, President Donald Trump promised to use tariffs to reset America’s global trade relationships, revitalize American manufacturing, and increase government revenues—and in the first months of his second administration, the president has used tariffs and the threat of tariffs to drive concessions even while raising antagonism and roiling markets. Kimberly Clausing helps us distinguish between the rhetoric and the reality of these tariffs. Clausing is an expert on the taxation of multinational firms. She served as the Deputy Assistant Secretary for Tax Analysis in the U.S. Department of the Treasury, serving as the lead economist in the Office of Tax Policy during the Biden administration. She is a nonresident senior fellow at the Peterson Institute for International Economics, a member of the Council on Foreign Relations, and a research associate at the National Bureau of Economic Research. Clausing has worked on economic policy research with the International Monetary Fund, the Hamilton Project, the Brookings Institution, the Tax Policy Center, and the Center for American Progress. She has testified before the House Ways and Means Committee, the Senate Committee on Finance, the Senate Committee on the Budget, and the Joint Economic Committee. Her research examines how government decisions and corporate behavior interplay in the global economy. She has published numerous articles on the taxation of multinational firms, and she is the author of “Open: The Progressive Case for Free Trade, Immigration, and Global Capital.” See omnystudio.com/listener for privacy information.

Alan's Soaps https://www.AlansArtisanSoaps.comUse coupon code TODD to save an additional 10% off the bundle price.Bioptimizers https://Bioptimizers.com/toddEnter promo code TODD to get 10% off your order of MassZymes today.Bizable https://GoBizable.comUntie your business exposure from your personal exposure with BiZABLE.  Schedule your FREE consultation at GoBizAble.com today.  Bonefrog https://BonefrogCoffee.com/toddThe new GOLDEN AGE is here!  Use code TODD at checkout to receive 10% off your first purchase and 15% on subscriptions.Bulwark Capital Bulwark Capital Management (bulwarkcapitalmgmt.com)Do you know how tariffs can affect your retirement?  Join Zach Abraham's FREE Webinar “Tariff Edition” Thursday May 22 at 3:30 Pacific. Sign up at KnowYourRiskRadio.com today.Renue Healthcare https://Renue.Healthcare/ToddYour journey to a better life starts at Renue Healthcare. Visit https://Renue.Healthcare/ToddListen and Watch on:The Todd Herman Show - Podcast - Apple PodcastsThe Todd Herman Show | Podcast on SpotifyTodd Herman - The Todd Herman Show - YouTubeSeattle still trying to surrender to Antifa // Treasury Secretary Admits Massive Fraud Potential, Commits to Change // Thank GOD this Presbyterian Sect Has Stopped Making DisciplesEpisode Links:WATCH: Rep. Jasmine Crockett, the dumbest member of Congress, debuts new game called, 'Trump or Trans.' "It would be so beautiful to see your bodies hanging from the tree" - Trantifa/Antifa members threatened an elderly couple leaving a @Riley_Gaines_ event at the  @UW campus. Police had to escort them as the militants followed. Video by @KatieDaviscourt:King County public defender among 30 arrested after Antifa occupation of University of Washington building; "We are working with law enforcement and through our own disciplinary processes to ensure those responsible face appropriate consequences for their actions," said UW President Ana Marie CauceREP DEAN: "When can I expect the FBI at my door?" KASH PATEL: "You know who was targeted by a weaponized FBI? Me. You should read the book." DEAN: "Should we worry more about your memory or your veracity?" PATEL: "Your lack of candor. Your accusing me of perjury. Tell the people how I broke the law… Have the audacity to actually put the facts forward instead of lying for political banter. So you can have a 20-second donation hit."SEN. KENNEDY: "Did Jeffrey Epstein hang himself or did somebody kill him?" KASH: "I believe he hung himself in a cell in the Metropolitan Detention Center." KENNEDY: "Are you going to release all the information about that...before I die?"The left got its wish. Ed Martin won't be U.S. attorney for D.C. Instead, he'll get a senior DOJ job heading the investigation into Biden-era weaponization of the DOJ against conservatives. Be careful what you wish for, libs. You just might get it!Treasury Secretary testified today that 1/3 of the 1.5 billion Treasury payments were Untraceable in 2024. He explains that 500 million transactions, where the US Treasury issued payments were missing a Treasury Account Symbol (TAS). THAT ENDS… now every single payment requires a TAS number.PC-USA has decided to stop making disciples … thank GOD! - Not The Bee.ICYMI. During COVID times, Saddleback Church instructed members on how to administer "self-baptisms" - "You should be the only person in the water" - Protestia

Alan's Soaps https://www.AlansArtisanSoaps.comUse coupon code TODD to save an additional 10% off the bundle price.Bioptimizers https://Bioptimizers.com/toddEnter promo code TODD to get 10% off your order of MassZymes today.Bizable https://GoBizable.comUntie your business exposure from your personal exposure with BiZABLE.  Schedule your FREE consultation at GoBizAble.com today.  Bonefrog https://BonefrogCoffee.com/toddThe new GOLDEN AGE is here!  Use code TODD at checkout to receive 10% off your first purchase and 15% on subscriptions.Bulwark Capital Bulwark Capital Management (bulwarkcapitalmgmt.com)Do you know how tariffs can affect your retirement?  Join Zach Abraham's FREE Webinar “Tariff Edition” Thursday May 22 at 3:30 Pacific. Sign up at KnowYourRiskRadio.com today.Renue Healthcare https://Renue.Healthcare/ToddYour journey to a better life starts at Renue Healthcare. Visit https://Renue.Healthcare/ToddListen and Watch on:The Todd Herman Show - Podcast - Apple PodcastsThe Todd Herman Show | Podcast on SpotifyTodd Herman - The Todd Herman Show - YouTubeThe Fed just purchased $20B in bonds... Let's bring Zach Abraham on the show to discuss what this means for us...Episode Links:Introducing the Perfect Trade.Harvard economics professor reveals the Democrats want the Fed to be absorbed by the Treasury. They want to issue a CBDC and have full control of our money. This is why Elizabeth Warren and her Democrat colleagues deeply oppose crypto.I Told Them Not to Buy the Coin: My Accidental $3.5M Memecoin Launch

A fiery breakdown of the latest political power struggle in Washington, highlighting Ed Martin's ousting, alleged massive fraud in federal payments, and Trump's strategic counter with rotating prosecutors to combat the deep state and swamp corruption.

US Rates strategists Phoebe White, Teresa Ho, and Ipek Ozil discuss their takeaways from this week's Fed meeting and tariff announcements. With a deterioration in labor market data still likely to drive Fed easing later this year, Treasury yields are expected to fall over coming months. Meanwhile, funding markets remain healthy, and stability has returned to swap spreads.   Speakers: Phoebe White, Head of US Inflation Strategy Teresa Ho Gentile, Head of US Short Duration Strategy Ipek Ozil, Head of US Interest Rate Derivatives Strategy   This podcast was recorded on 9 May 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4981555-0, https://www.jpmm.com/research/content/GPS-4980064-0, https://www.jpmm.com/research/content/GPS-4976471-0, https://www.jpmm.com/research/content/GPS-4980549-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

The President takes a softer tone on China ahead of the first bilateral meeting between the two countries. Plus, are there warning signs that the treasury market is sending? Our market guest says yes, he'll break it down. And, the CEO of Wheaton Precious Metals discusses their earnings beat, the outlook for commodities and the big runup in gold. 

Peter Schiff analyzes the Federal Reserve's unchanged rates, critiques Trump's economic claims, and predicts the fallout from current trade policies.Sponsored by NetSuite. Download the CFO's Guide to AI and Machine Learning at https://netsuite.com/goldIn this episode of The Peter Schiff Show, host Peter Schiff critically analyzes the Federal Reserve's recent decision to maintain interest rates between 4.25% and 4.5%, highlighting Powell's inconsistent views on inflation expectations and economic conditions. Schiff also discusses President Trump's silence on Powell's statements and questions the efficacy of trade talks with China, predicting a looming economic disappointment. He continues by scrutinizing Trump's contradictory claims regarding improving trade deficits and the misguided reliance on tariffs. Schiff emphasizes the inevitable economic consequences of current policies and suggests strategic financial adjustments, such as investing in foreign currencies and gold, to brace for impending stagflation and market instability. As always, Schiff echoes his critical stance on governmental and economic mismanagement while providing expert financial advice to his listeners.

The biggest pot of money in the history of mankind is the US Treasury and people are always looking to get their hands on the cash. Scott Bessent talks about tracking Treasury dollars and takes on Maxine Waters in an IQ mismatch. If the right continues to elect reformers, eventually we can do some serious government clean up. Jesse's got some redhead blood.Follow The Jesse Kelly Show on YouTube: https://www.youtube.com/@TheJesseKellyShowSee omnystudio.com/listener for privacy information.

The Trump Administration is investigating UW over Monday night’s antisemitic takeover. Seattle wants to add more speed cameras near school zones and put them into neighborhoods. A guest on Piers Morgan’s show went ballistic after after Morgan dared another guest to use a racial slur. Chris Cuomo bashed Senator John Kennedy after he bailed on his show. // LongForm: GUEST: Franklin County Sheriff Jim Raymond is in an ongoing battle with the courts over his office’s ability to confiscate guns from the local jail. // Quick Hit: Treasury Secretary fired back at Rep. Maxine Waters (D-CA) after she claimed the Trump Administration was allowing people without property security clearance to have access to Treasury data.

Live from Studio G and fighting for you from the Foxhole of Freedom—here we go into another brand-new hour—   WARNING: The Steve Gruber Show often results in Extended periods of American pride, American optimism and uncontrollable enthusiasm about America's future!    Kicking off the live broadcast day on Real America's Voice, MTN and reaching a growing global audience—this is the Steve Gruber Show— And this is a no panic zone!   Here are the three big things to know this hour—   Number One— Has the O'Keefe Media Group got a smoking gun confession on one of the biggest names in the Jeffrey Epstein underage child sex ring scandal? Well it sure looks that way this morning!   Number Two— A remarkable revelation—more than 200 people were arrested yesterday in an FBI investigation—of a child sex operation on the East coast—more than 115 kids were actually rescued!   Number Three— You see sometimes you have to wait for results—you have to be patient—as hard as that can be— so please people as we dive into a new day—relax—and let me start with some good news—     Attorney General Pam Bondi says despite wild internet rumors to the contrary— the FBI is currently sifting through a mountain of evidence on Jeffrey Epstein's crimes against humanity –    Bite #5   I don't know about you, but I'm willing to be patient with the DOJ and the FBI while they do this right – this is something that can't be rushed.   Just yesterday – Bondi and FBI Director Kash Patel announced the astounding progress they've made in fighting child sex predators as a result of Operation Restore Trust –    The operation involves 55 FBI field officers across the nation – and has resulted so far in the rescue of 115 children – and the arrests of 205 child sexual abuse offenders.   Bite #6   These people are the worst of the worst – and I'm glad the DOJ and FBI are sending the message loud and clear that just because you can hide behind a screen, doesn't mean you can hide from the authorities.   115 children rescued… 205 sex offenders arrested – and they did that over the course of 5 days!    I've noticed how impatient Americans on both sides of the aisle have gotten with the Trump Administration –    Democrats point to every issue that has yet to be resolved – thinking it's a big “I told you so” – on the ineffectiveness of the administration –    And some Republicans are ready to rain down hellfire on Bondi and others because they're not seeing the results they want yet—    And to that I say: Come on, Relax!    Some of these cabinet picks have been in office less than 3 months – we've got to let them work!   I'm seeing the same thing with the ‘big, beautiful bill' that Donald Trump has promised – intended to extend tax cuts that he made the first time around –    Conservatives have put their foot down on a deadline date by Memorial Day – with a big ‘OR ELSE' – but again, I say: let them work!   Joe Biden's Administration did a number on our government – and even looking past him – the system has been broken for decades –    If we want this done right, we need to make sure our elected officials can iron out the details.   You wonder why I'm willing to be patient? Just take a look at what this administration has already accomplished –    Egg and gasoline prices are already down – here's Agriculture Secretary Brooke Rollins on reversing the Biden-era blunders –    Bite #7   Like she said, there's so much work to do – but we can rest easy in how much has already been accomplished –    Another case in point – Defense Secretary Pete Hegseth has been taking an ax to what he's called – quote – unnecessary bureaucratic layers – in our military – and that includes woke programs and leaders that weaken our national security –    I've never felt more confident in the future of the U.S. military that I do after hearing Hegseth put it this way – listen –    Bite #8   A man after my own heart…   That dream is becoming reality – now that the Supreme Court has backed Trump's ban on transgender individuals in the military – as I mentioned yesterday –    Hegseth says there are more unqualified on payroll than just those who don't know their gender – and he's taking care of that problem, too – listen –    Bite #9   Elon Musk isn't the only in charge of downsizing – we've got a whole cabinet team looking to make our government the most efficient it's ever been – using our tax dollars for legitimate purposes – to serve the taxpayers well –    Treasury Secretary Scott Bessent is leading the charge on that mission over at the U.S. Treasury – he's also rooting out corruption – and making sure that we know where our money is going –    He says the previous administrations were complacent about transparency – across the whole government – and that attitude affected the Treasury Department, too – on a billion-dollar scale – listen –    Bite #10   The United States Treasury was sending billions of dollars to God knows where – while Nancy Pelosi was House Speaker – and passed a provision in 2021 that required every gig worker making more than $600 on apps like Venmo to report that money to the IRS – when the previous threshold was 20-thousand dollars.   Rules for thee, but not for me, huh?   Bessent is after more than just transparency – he wants to recreate the booming successes of Trump's first term in office – something we all want – and voted for –    Bite #11   I'm confident that we can return to those glory days…but like I've said – we gotta let them work! We can't panic.   China is now agreeing to come to the table on tariff negotiations with the U.S. – and they'll probably start by playing hardball – but you don't think Trump already knows that?   He's the master negotiator – and he's made it clear that he's putting America first.   We've already seen big gains for Americans in our economy – and that's with the Fed dragging their feet on lowering interest rates.   It's clear as day to me: We have to trust Donald J. Trump and his cabinet to be what we voted for. Trump's unapologetic strength, proven economic wins, and America-first agenda is cutting through the noise of a corrupt establishment.  While Americans on both sides of the aisle continue to wring their hands, claiming that the results are taking too long – Trump is fighting for us—lowering egg and gas prices, securing our borders, and empowering leaders. like Bondi, Patel, Bessent, you name it. Pam Bondi and Kash Patel are out there cleaning up our streets, Pete Hegseth is gutting woke military nonsense, Scott Bessent is cleaning up the Treasury, and Trump's negotiating with China like a boss. Give them time—this is Making America Great Again!

The Unabomber was worried about technology and it's impact on us humans. Seems like his concerns weren't unwarranted. Is Scott Bessent seriously discussing screwing US bondholders and defaulting on the debt?  Trump memecoins are making people MILLIONS! Well...58 people are making millions. The other 700K+ people are losing. This is corruption and would be obvious to MAGA if the "other" guy was doing it.

Joe Burnett is the Director of Market Research at Unchained, a leading bitcoin financial services company founded in 2016.At Unchained, Joe drives research and market analysis efforts, delivering insights into bitcoin movement indicators, market trends, and the evolving needs of Unchained's client base — from individual holders to large institutions. As the host of The Bitcoin Frontier Podcast, he leads expert discussions surrounding bridging the gap between bitcoin adoption and financial markets to audiences worldwide.Before joining Unchained, Joe served as Product Manager and Head Analyst at Blockware Solutions, where he shaped market research and product strategy focused on bitcoin mining. An influential voice in the bitcoin community, Joe's commentary regularly appears across major media outlets, and his independent publication, The Mustard Seed, offers unique perspectives on the future of bitcoin, technology, and civilization.Joe holds a Master's degree in Business Analytics and a Bachelor's degree in Management Information Systems and Computer Science from the University of Georgia's Terry College of Business.In this conversation, we discuss:- HODL waves = tracking the movement of bitcoins on-chain- Saylor's billion $ BTC buys not moving the market?- Bitcoin as a strategic reserve- Collaborative custody model- Financial services for Bitcoin holders- Bitcoin market trends and analysis- Publicly traded companies holding bitcoin- nMAV for bitcoin treasury companies- Have we decoupled?- Bitcoin reaching gold parityUnchainedWebsite: www.unchained.com X: @unchainedLinkedIn: UnchainedJoe BurnettX: @IIICapitalLinkedIn: Joe Burnett, MSBA ---------------------------------------------------------------------------------  This episode is brought to you by PrimeXBT.  PrimeXBT offers a robust trading system for both beginners and professional traders that demand highly reliable market data and performance. Traders of all experience levels can easily design and customize layouts and widgets to best fit their trading style. PrimeXBT is always offering innovative products and professional trading conditions to all customers.   PrimeXBT is running an exclusive promotion for listeners of the podcast. After making your first deposit, 50% of that first deposit will be credited to your account as a bonus that can be used as additional collateral to open positions.  Code: CRYPTONEWS50  This promotion is available for a month after activation. Click the link below:  PrimeXBT x CRYPTONEWS50

XRP Truth Bomb: Coingecko Gets It Wrong – Maxine Waters Exposed by Treasury Sec! ********** SUPPORT ON THE CHAIN GRAB A BADASS YETIS COFFEE – Fuel your crypto grind! ☕ Visit: otc.one/BadassYetisBrew MINT YOUR BADASS YETIS NFT – Own a piece of the legend! Visit: otc.one/mint OTC MERCH IS HERE! – Represent the community in style! Visit: onthechain.shop BUY US A COFFEE – Help keep the content flowing! Visit: otc.one/buy-us-a-coffee JOIN THE CHANNEL – Get exclusive perks & behind-the-scenes content! Visit: otc.one/join ********** ON THE CHAIN – CONNECT WITH US! Listen to the OTC Podcast – Never miss an update! Visit: otc.one/podcast Visit Our Website – The home of crypto insights! Visit: onthechain.io Follow OTC on Twitter – Stay updated in real time! Visit: otc.one/otc Join the OTC Community on Twitter – Be part of the discussion! Visit: twitter.com/i/communities/1599435678995062788 ********** FOLLOW THE OTC TEAM Follow Jeff on Twitter:

Donate (no account necessary) | Subscribe (account required) Join Bryan Dean Wright, former CIA Operations Officer, as he breaks down today's biggest stories shaping America and the world. India-Pakistan Clash Escalates, Nuclear Stakes Rise – India confirms precision strikes on terror camps inside Pakistan following a deadly Islamist attack in Kashmir. Pakistan claims civilian deaths and says it downed two Indian jets. Amid mutual denials and rising rhetoric, concerns grow over Islamabad's long-range missile development reportedly capable of hitting the U.S. Trump Brokers Red Sea Truce with Houthis - Sort Of – President Trump halts bombing in Yemen following a U.S.-brokered agreement for the Houthis to stop targeting Red Sea shipping. But the militants vow to keep attacking Israel, raising uncertainty about the deal's durability. Sudan's Port City Attacked, Global Gum Arabic Supply Threatened – RSF rebels launch drone strikes on Port Sudan, crippling the country's main export hub for gum arabic—a critical ingredient in food and medicine. The UAE is accused of backing the rebels. OPEC Quietly Helps Trump Squeeze Putin – Saudi Arabia and other producers increase oil output, crashing prices and cutting into Russia's war budget. Trump hints this pressure campaign could yield a major Middle East breakthrough in the coming days. U.S.-China Trade Talks Resume Publicly Amid Factory Panic – After weeks of secret meetings, Treasury and trade officials from both nations will meet Friday in Switzerland. Chinese firms, desperate to survive tariff shocks, are fraudulently relabeling goods and rerouting exports through Malaysia and Canada. Canada Flooded with Chinese Goods, U.S. Warns of Backdoor Imports – Trump raises concerns that Chinese products are being funneled into the U.S. via Canada. Canadian PM Mark Carney flatters Trump in hopes of avoiding a trade fight, but tensions remain high. Supreme Court Upholds Trump's Military Ban on Transgender Recruits – In a 6-3 ruling, justices affirm the Pentagon's authority to exclude or remove individuals with gender dysphoria from military service. Trump Orders Lia Thomas Records Erased, Columbia Fires 180 Researchers – The administration enforces Title IX, demanding Penn strip Lia Thomas' swimming records. Separately, Columbia lays off staff after Trump slashes funding over anti-Semitism concerns. DOJ Investigates Minnesota DA for Race-Based Prosecution Policy – The Soros-backed DA who dropped charges against a Tesla vandal now faces scrutiny for admitting race influences her charging decisions. The DOJ warns this violates civil rights law. "And you shall know the truth, and the truth shall make you free." - John 8:32

Today's Headlines: President Trump met with Canadian Prime Minister Mark Carney to discuss trade, where Carney affirmed Canada's status as the U.S.'s largest trading partner despite Trump's contrary claims. Meanwhile, Treasury Secretary Scott Bessent admitted that the U.S. has yet to start formal trade talks with China, even as Trump downplayed the impact of not trading. In Asia, China, Japan, South Korea, and ASEAN formed a financial stability agreement, while India launched missile strikes in Kashmir following a massacre of Hindu tourists, escalating tensions with Pakistan. Domestically, Defense Secretary Pete Hegseth faced backlash over his use of Signal for sensitive communications amid reports of a government archiving tool hack. Hegseth also announced cuts to senior military ranks, reducing four-star officers by 20%. In a surprising move, the Trump administration sought to dismiss a lawsuit limiting access to the abortion pill mifepristone. The Supreme Court ruled 6-3 to temporarily allow Trump's transgender military ban, affecting over 4,000 service members. Meanwhile, the Vatican conclave began, as 133 cardinals gathered to elect a new Pope, needing a two-thirds majority to win. Resources/Articles mentioned in this episode: CNN: Trump's Oval Office meeting with Carney didn't reach Zelensky-level tension. But it wasn't all neighborliness Fox: US has yet to launch trade negotiations with China, Treasury secretary says Reuters: Japan, China, South Korea, ASEAN enhance regional financial safety net  The Guardian: Kashmir crisis live: India missile attack kills eight; Pakistan official says two Indian fighter jets shot down WSJ: Hegseth Used Multiple Signal Chats for Official Pentagon Business Axios: Signal archiving tool Trump officials used suspends services after hack claims  NY Times: Trump Administration Asks Court to Dismiss Abortion Pill Case NBC News: Supreme Court allows Trump to implement transgender military ban Reuters: Cardinals enter seclusion ahead of secret conclave to elect new pope  Morning Announcements is produced by Sami Sage and edited by Grace Hernandez-Johnson Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's show we are looking at an event in financial markets that could represent a tipping point. These events have occurred with regularity over the years. Think of the Greek Sovereign debt crisis in 2012 that threatened to topple the entire European banking system. Think of Lehman Brothers in 2008. There was the bank failures in the US in 2023. These events often expose the counter party risk that is inherent in our globally interconnected financial system. The problem is showing up in the latest spike in US Treasury yields. It happened very rapidly between May 1 and May 2 of last week. Now we have become accustomed to very high volatility in US Treasury yields. Most of that is routinely blamed on the unpredictable nature of the White House.But this one was different. There was no news from the White House that fundamentally would affect Treasury yields. The threat to impose tariffs on foreign movies is not enough to move the needle. So who is dumping US Treasuries? What happened at the same time as the spike in US Treasury yields was a precipitous drop in the Taiwanese dollar against the US dollar. So who in Taiwan is dumping Treasuries? It turns out that Taiwanese life insurance companies had loaded up on US Treasuries and failed to purchase a hedge against interest rate volatility.  Why did they not buy insurance? They thought the insurance was too expensive. The liberation day announcement from Donald Trump had been pending for weeks. It was making front page headlines around the world, and still the risk managers at these Taiwanese insurance companies thought that they would take the risk and not buy the insurance. The high price of the insurance was a reflection of the elevated risk.---------------**Real Estate Espresso Podcast:** Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)   iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)   Website: [www.victorjm.com](http://www.victorjm.com)   LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)   YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734)   Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso)   Email: [podcast@victorjm.com](mailto:podcast@victorjm.com)  **Y Street Capital:** Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)   Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital)   Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)  

In the 7 AM hour, Larry O’Connor and Julie Gunlock discussed: WMAL GUEST: JEREMY HUNT (Former U.S. Army Intel Officer, Chairman of Veterans on Duty) on the Houthis not wanting to fight anymore NY POST: FBI ‘butchered’ 2017 congressional baseball shooting probe, downplayed anti-GOP motives of gunman, blistering report concludes BESSENT: "There was no accountability. That is why the 450 organizations that sit above Treasury, where Treasury acts as the paymaster, are unable to pass an audit. So, we have cracked down on that. Every payment now requires a TAS number." Where to find more about WMAL's morning show: Follow podcasts on Apple, Audible and Spotify Follow WMAL's "O'Connor and Company" on X: @WMALDC, @LarryOConnor, @JGunlock, @PatricePinkfile, and @HeatherHunterDC Facebook: WMALDC and Larry O'Connor Instagram: WMALDC Website: wmal.com/oconnor-company Episode: Wednesday, May 7, 2025 / 7 AM HourSee omnystudio.com/listener for privacy information.

My guest today is Michele Giddens, Co-Founder and CEO of Bridges Fund Management — one of the early architects of impact investing, before the term was even coined.Bridges now has over £2 billion in AUM invested in private equity and property, but back in 2002, it began with little more than a blank sheet of paper and a conviction that capital could — and should — be used to address some of society's biggest challenges.Michele and her co-founders, Sir Ronald Cohen and Philip Newborough, believed social and environmental impact didn't have to come at the expense of returns. That belief has held firm for over two decades — and continues to shape how Bridges invests today.After graduating with a PPE degree from Oxford, she skipped the corporate path and headed to Mexico City to teach English — the start of what became 15 years living and working abroad. From Hungary to Poland, Bangladesh to Mongolia, she followed the same instinct: a need to be close to where impact actually happens. That drive brought her back to the UK in 2000 to advise the Treasury's Social Investment Task Force, chaired by Sir Ronald Cohen. One of its key recommendations was to launch funds focused on underserved parts of the UK. Michele helped shape that idea — and stayed to build the first one.Their first fund was £40 million, including £10 million in catalytic capital from the UK government, structured to take more risk and go in first. “One of the very best uses of taxpayer money,” she says — because it helped unlock over £2 billion in private sector investment since.Today, Bridges operates across two verticals: building a more sustainable planet and a more inclusive economy. In property, that means co-living spaces, healthcare, and age-friendly housing. In private equity, it includes companies like AgilityEco, which helped 200,000 households reduce energy bills, and Talking Talent, which helps underrepresented employees rise through leadership.Michele is clear-eyed about what impact can and can't do. Some challenges need capital that's more patient, more risk-bearing, or even concessionary. That's why Bridges has built nonprofit arms to reach the edges of what the market can't serve.But she's equally convinced — and backed by two decades of results — that plenty of investments deliver both meaning and double-digit returns, if you design for it.That's been the aim from the start — not to trade one off against the other, but to hold both to a high standard. Twenty years on, that idea hasn't softened.What Michele and her team have built isn't just a firm. It's a bridge. And over twenty years in, it still holds.—About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. —Connect with SRI360°:Sign up for the free weekly email updateVisit the SRI360° PODCASTVisit the SRI360° WEBSITEFollow SRI360° on XFollow SRI360° on FACEBOOK—Additional Resources:Michele Giddens LinkedInBridges Fund Management: - Website- LinkedIn- X (Twitter)- YouTubeThe Bridges Spectrum of Capital - download here

Steering a course around the complexities of treasury and cash flow in today's dynamic global environment can feel like being in the wheelhouse without an up-to-date sea chart – and treasurers face the ongoing challenge of adapting to these conditions. Here, in the third in a series of TMI guest columns written by leading experts from ING Transaction Services, Tibor Bartels, Head Transaction Services ING Americas, combines perspectives from both sides of the Atlantic. He offers insights into the evolving demands on treasurers, the role of technology, and the critical need for banking partners to bridge regional and global operations.

Student loan borrowers face significant changes as collection practices resume and the Department of Education faces potential dismantling by December 2026. Deborah Paul from the Louisiana Office of Student Financial Assistance explains what borrowers need to know about these changes and how to navigate them effectively.• Student loans are considered in default after 270 days without payment• Only 38% of student loans are currently being paid as agreed• Default consequences include wage garnishment (up to 15%), tax refund seizure, and credit damage• Collection activities resume May 5th with at least 30 days notice before garnishment begins• Borrowers can rehabilitate defaulted loans with 9 consecutive monthly payments• Income-driven repayment plans calculate payments based on what borrowers can afford• Deferment options exist for those returning to school, serving in military, or facing economic hardship• Forbearance provides temporary relief for short-term financial difficulties• The Department of Education dismantling would transfer functions to Treasury, HHS, and Justice departments• Check your loan status at studentaid.gov by accessing the National Student Loan Data System• Dual enrollment programs allow high school students to earn college credits, potentially graduating with associate degrees• Future changes may include eliminating PLUS loans, increasing Pell Grant requirements, and decreasing loan limitsContact Federal Student Aid at studentaid.gov to check your loan status and explore your options. Default can severely impact your financial future, so take action now before collection activities intensify.Have an idea for a show or a question for Kim? Send us a text messageSupport the showWelcome to Money Matters, the podcast that focuses on how to use the money you have, make the money you need and save the money you want – brought to you by Neighbors Federal Credit Union. The information, opinions, and recommendations presented in this Podcast are for general information only and any reliance on the information provided in this Podcast is done at your own risk. This Podcast should not be considered professional advice.

Teri Williams President and Chief Operating Officer of OneUnited Bank. She is responsible for implementation of the Bank’s strategic initiatives, as well as the day-to-day operations. Under her leadership, OneUnited Bank has consolidated the local names and product offerings of four (4) banks and launched a digital platform to create a powerful national brand supported by innovative technology, products and services. OneUnited Bank, the nation’s largest Black owned bank and award-winning Community Development Financial Institution, serves as a bridge by offering affordable financial services and promoting financial literacy. She brings 30 years of financial services expertise from premier institutions such as Bank of America and American Express, where she was one of the youngest Vice Presidents. Ms. Williams holds an M.B.A. with honors from Harvard Business School and a B.A. with distinctions from Brown University. Company Description *OneUnited Bank, America's leading Community Development Financial Institution, the nation’s largest Black-owned bank, eleven-time recipient of the US Department of Treasury’s Bank Enterprise Award for community development and named Inc. Magazine’s Best in Financial Services 2024.OneUnited is grounded in its decades long mission to strengthen communities of color by offering affordable financial services for all, supporting local communities in Miami, Boston and Los Angeles. The ultimate mission is to make financial literacy a core value in communities of color in order to to close the wealth gap. Talking Points/Questions * 1. Partnership wtih Esusu to increase homeownership in communities of color2. Black businesses doing business with each other in war on DEI3. Making financial literacy a core value of underserved communities #STRAW #BEST #SHMSSupport the show: https://www.steveharveyfm.com/See omnystudio.com/listener for privacy information.

Teri Williams President and Chief Operating Officer of OneUnited Bank. She is responsible for implementation of the Bank’s strategic initiatives, as well as the day-to-day operations. Under her leadership, OneUnited Bank has consolidated the local names and product offerings of four (4) banks and launched a digital platform to create a powerful national brand supported by innovative technology, products and services. OneUnited Bank, the nation’s largest Black owned bank and award-winning Community Development Financial Institution, serves as a bridge by offering affordable financial services and promoting financial literacy. She brings 30 years of financial services expertise from premier institutions such as Bank of America and American Express, where she was one of the youngest Vice Presidents. Ms. Williams holds an M.B.A. with honors from Harvard Business School and a B.A. with distinctions from Brown University. Company Description *OneUnited Bank, America's leading Community Development Financial Institution, the nation’s largest Black-owned bank, eleven-time recipient of the US Department of Treasury’s Bank Enterprise Award for community development and named Inc. Magazine’s Best in Financial Services 2024.OneUnited is grounded in its decades long mission to strengthen communities of color by offering affordable financial services for all, supporting local communities in Miami, Boston and Los Angeles. The ultimate mission is to make financial literacy a core value in communities of color in order to to close the wealth gap. Talking Points/Questions * 1. Partnership wtih Esusu to increase homeownership in communities of color2. Black businesses doing business with each other in war on DEI3. Making financial literacy a core value of underserved communities #STRAW #BEST #SHMSSee omnystudio.com/listener for privacy information.

With the May FOMC meeting in progress, our analysts Matt Hornbach and Michael Gapen offer perspective on U.S. economic projections and whether markets are aligned.Read more insights from Morgan Stanley.----- Transcript -----Matthew Hornbach: Welcome to Thoughts on the Market. I'm Matthew Hornbach, Global Head of Macro Strategy.Michael Gapen: And I'm Michael Gapen, Morgan Stanley's Chief U.S. Economist.Matthew Hornbach: Today we're talking about the Federal Open Market Committee Meeting underway, and the path for rates from here.It's Tuesday, May 6th at 10am in New York.Mike, before we talk about your expectations for the FOMC meeting itself, I wanted to get your take on the U.S. economy heading into the meeting. How are you seeing things today? And in particular, how do you think what happened on April 2nd, so-called Liberation Day, affects the outlook?Michael Gapen: Yeah, I think right now, Matt, I would say the economy's still on relatively solid footing, and by that I mean the economy had been moderating. Yes, the first quarter GDP print was negative. But that was mainly because firms were frontloading a lot of inventories through imports. So imports were up over 40 percent at an annualized pace in the quarter. A lot of that went into inventories and into business spending. That was just a mechanical drag on activity.And the April employment report, I think, showed the same thing. We're now averaging about 145,000 jobs per month this year. That's down from about 170,000 per month in the second half of last year. So the hiring rate is slowing down, but no signs of a sudden stop. No signs in layoffs picking up. So I'd say the economy is on fairly solid footing, and the labor market is also on fairly solid footing – as we enter the period now when we think tariffs will have a greater effect on the outlook. So you asked, you know, Liberation Day. How does that affect the outlook? Right now we'd say it puts a lot of uncertainty in front of us. on pretty solid footing now. But Matt, looking forward, we have a lot of concerns about where things may go and we expect activity to slow and inflation to rise.Matthew Hornbach: That's great background, Mike, for what I want to ask you about next, which is of course the FOMC meeting this week. We won't get a new set of economic projections from the committee. But if we did, what do you think they would do with them and how would you assess the reaction function one might be able to tease out of those economic projections?Michael Gapen: You're right, we don't get a new set of projections, but New York Fed President John Williams did provide some indication about how he adjusted his forecast, and John tends to be one of the – kind of a median participant.He tends to be centrist in his thinking and his projection. So I do think that that gives us an indication of what the Fed is thinking; and he said he expects GDP growth to slow to somewhat below 1 percent in 2025. He expects inflation to rise to 3.5 to 4 percent this year, and he said the unemployment rates likely to move between 4.5 and 5 percent over the next year. And those phrases are really key. That's the same thing, Matt, as you know, we are expecting for the U.S. economy and I do think the Fed is thinking of it the same way.Matthew Hornbach: So one final question for you, Mike. In terms of this meeting itself, what are you expecting the Fed to deliver this week? And what are the risks you see being around that expectation; you know, that might catch investors off guard?Michael Gapen:I think the Fed's main message this week will be that they're prepared to wait, that they think policy's in a good spot right now. They think inflation will be rising sharply, that the tariff shock is a lot larger than they had anticipated earlier this year. And they will need time to assess whether that inflation impulse is transitory, or whether it creates more persistent inflation. So I think what they will say is we're in a good position to wait and we need clarity on the outlook before we can act.In this case, we think acting means doing nothing. But acting could also mean cutting if the labor market weakens. So I think there'll be worried about inflation today, a weak labor market tomorrow. And so I think risks around this meeting really are tilted in the direction of a more hawkish message than markets are expecting at least vis-a-vis current pricing. I think the market wants to hear the Fed will be ready to support the economy. Of course, we think they will, but I think the Fed's also going to be worried about inflation pressures in the near term. So that, I think, might catch investors off guard.So Matt, what I think might catch investors off guard may be a little misplaced. I'm an economist after all. You're the strategist, you're the expert on the treasury market and how investors may be perceiving events at the moment. So the treasury market had quite the month since April 2nd. For a moment U.S. treasuries didn't act like the safe haven asset many have come to expect. What do you think happened?Matthew Hornbach: So, Mike, you're absolutely right. Treasury yields initially fell, but then spent a healthy portion of the last month rising and investors were caught off guard by what they saw happening in the treasury market. I've seen this type of behavior in the treasury market, which I've been watching now for 25 years. I've seen this happen twice before in my career. The first time was during the Great Financial Crisis, and the second time I saw it was in March of 2020. So, this being the third time you know, I don't know if it was the charm or if it was something else, but treasury yields went up quite a bit.I think what investors were witnessing in the treasury market is really a reflection of the degree of uncertainty and the breadth with which that uncertainty, traversed the world. Both the Great Financial Crisis and the initial stage of the pandemic in March of 2020 were events that were global in nature. They were in many ways systemic in nature, and they were events that most investors hadn't contemplated or seen in their lifetimes. And when this happens, I think investors tend to reduce risk in all of its forms until the dust settles. And one of those very important forms of risk in the fixed income markets is duration risk.So, I think investors were paring back duration risk, which helped the U.S. Treasury market perform pretty poorly at one moment over the past month.Michael Gapen: So Matt, one aspect of market pricing that stands out to me is how rates markets are pricing 75 basis points of rate cuts this year. And just after April 2nd, the market had priced in about 100 basis points of cuts.How are you thinking about the market pricing today? Matt, as you know, it differs quite a bit from what we think will happen.Matthew Hornbach: Yeah. This is where, you know, understanding that market prices in the interest rate complex reflect the average outcome of a wide variety of scenarios; really every scenario that is conceivable in the minds of investors. And, of course, as you mentioned, Mike depending on exactly how this year ends up playing out there, there could be a scenario in which the Federal Reserve has to lower rates much more aggressively than perhaps even markets are pricing today.So, the market being an average of a wide variety of outcome will find it really challenging to take out all of the rate cuts that are priced in today. Or said differently, the market will find it challenging to price in your baseline scenario. And ultimately, I think the way in which the market ends up truing up to your projections, Mike, is just with time.I think as we make our way through this year and the economic data come in, in-line with your baseline projections, the market will eventually price out those rate cuts that you see in there today. But that's going to take time. It's going to take investors growing increasingly comfortable that we can avoid a recession at least in perception this year before, you know, on your projections, we have a bit of a slower economy in 2026.Michael Gapen: Well, it definitely does feel like a bimodal world, where investor conviction is low. Matt, where do you have conviction in the rates market today?Matthew Hornbach: So, the way we've been thinking about this environment where we can avoid a recession this year, but maybe 2026 the risks rise a bit more. We think that that's the type of environment where the yield curve in the United States can steepen, and what that means practically is that yields on longer maturity bonds will go up relative to yields on shorter maturity bonds. So, you get this steepening of the yield curve. And that is where we have the highest conviction; in terms of, what happens with the Treasury market this year is we have a steeper yield curve by the time we get to December.Now part of that steepening we think comes because as we approach 2026 where Mike, you have the Fed beginning to lower rates in your baseline, the market will have to increasingly price with more conviction a lower policy rate from the Fed. But then at the same time, you know, we probably will have an environment where treasury supply will have to increase.As a result of the fiscal policies that the government is discussing at the moment. And so you have this environment where yields on longer maturity securities are pressured higher relative to yields on shorter maturity treasuries.So, with that, Mike, we'll wrap our conversation. Thanks so much for taking the time to talk.Michael Gapen: It's been great speaking with you, Matt.Matthew Hornbach: And thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or colleague today.

A critical flaw in a Samsung's CMS is being actively exploited. President Trump's proposed 2026 budget aims to slash funding for CISA. “ClickFix” malware targets both Windows and Linux systems through advanced social engineering. CISA warns of a critical Langflow vulnerability actively exploited in the wild. A new supply-chain attack targets Linux servers using malicious Go modules found on GitHub. The Venom Spider threat group targets HR professionals with fake resume submissions. The Luna Moth group escalates phishing attacks on U.S. legal and financial institutions. The U.S. Treasury aims to cut off a Cambodia-based money laundering operation. Our guest is  Monzy Merza, Co-Founder and CEO of Crogl, discussing the CISO's conundrum in the face of AI. Malware, mouse ears, and mayhem: Disney hacker pleads guilty. Remember to leave us a 5-star rating and review in your favorite podcast app. Miss an episode? Sign-up for our daily intelligence roundup, Daily Briefing, and you'll never miss a beat. And be sure to follow CyberWire Daily on LinkedIn. CyberWire Guest On our Industry Voices segment, we are joined by Monzy Merza, Co-Founder and CEO of Crogl, who is discussing the CISO's conundrum—the growing challenge of securing organizations in a world where AI rapidly expands both the number of users and potential adversaries.Selected Reading Samsung MagicINFO Vulnerability Exploited Days After PoC Publication (SecurityWeek) Trump would cut CISA budget by $491M amid ‘censorship' claim  (The Register) New ClickFix Attack Mimics Ministry of Defense Website to Attack Windows & Linux Machines (Cyber Security News) Critical Vulnerability in AI Builder Langflow Under Attack (SecurityWeek) Linux wiper malware hidden in malicious Go modules on GitHub (Bleeping Computer) Malware scammers target HR professionals with Venom Spider malware (SC Media) Luna Moth extortion hackers pose as IT help desks to breach US firms (Bleeping Computer) US Readies Huione Group Ban Over Cybercrime Links (GovInfo Security) Hacker 'NullBulge' pleads guilty to stealing Disney's Slack data (Bleeping Computer) Share your feedback. We want to ensure that you are getting the most out of the podcast. Please take a few minutes to share your thoughts with us by completing our brief listener survey as we continually work to improve the show.  Want to hear your company in the show? You too can reach the most influential leaders and operators in the industry. Here's our media kit. Contact us at cyberwire@n2k.com to request more info. The CyberWire is a production of N2K Networks, your source for strategic workforce intelligence. © N2K Networks, Inc. Learn more about your ad choices. Visit megaphone.fm/adchoices

Teri Williams President and Chief Operating Officer of OneUnited Bank. She is responsible for implementation of the Bank’s strategic initiatives, as well as the day-to-day operations. Under her leadership, OneUnited Bank has consolidated the local names and product offerings of four (4) banks and launched a digital platform to create a powerful national brand supported by innovative technology, products and services. OneUnited Bank, the nation’s largest Black owned bank and award-winning Community Development Financial Institution, serves as a bridge by offering affordable financial services and promoting financial literacy. She brings 30 years of financial services expertise from premier institutions such as Bank of America and American Express, where she was one of the youngest Vice Presidents. Ms. Williams holds an M.B.A. with honors from Harvard Business School and a B.A. with distinctions from Brown University. Company Description *OneUnited Bank, America's leading Community Development Financial Institution, the nation’s largest Black-owned bank, eleven-time recipient of the US Department of Treasury’s Bank Enterprise Award for community development and named Inc. Magazine’s Best in Financial Services 2024.OneUnited is grounded in its decades long mission to strengthen communities of color by offering affordable financial services for all, supporting local communities in Miami, Boston and Los Angeles. The ultimate mission is to make financial literacy a core value in communities of color in order to to close the wealth gap. Talking Points/Questions * 1. Partnership wtih Esusu to increase homeownership in communities of color2. Black businesses doing business with each other in war on DEI3. Making financial literacy a core value of underserved communities #STRAW #BEST #SHMSSteve Harvey Morning Show Online: http://www.steveharveyfm.com/See omnystudio.com/listener for privacy information.

Doug McHoney (PwC's International Tax Services Global Leader) is joined by Professor Itai Grinberg, a faculty member at Georgetown University Law Center and a former Deputy Assistant Secretary at the US Treasury Department during the Biden administration. In that role, Itai served as the United States' lead negotiator for the global corporate minimum tax initiative. Doug and Itai discuss the behind-the-scenes history of Pillar Two from the US perspective, exploring its policy rationale, global negotiations, and shifting political dynamics. The conversation begins with how Itai's got his role at Treasury and builds a detailed timeline tracing the Biden administration's early support for global minimum tax rules through the 2021 G7 agreement and the development of the Under-Taxed Profits Rule (UTPR). They also delve into the impact of the Build Back Better legislation which was not enacted, the rationale behind the US safe harbor under UTPR, international political tensions including Brexit and US-China relations, and the implications of the April 2025 Trump executive order. The episode closes with reflections on the OECD Inclusive Framework's future and whether multinational enterprises can expect a workable consensus moving forward. 

What does it take to rise through the ranks in treasury - from debt collection to leading the treasury function of a global engineering group? In this episode, we dive into the real, unfiltered treasury career journey of Emma Hayward, Group Treasurer of Dowlais Group plc, covering everything from early uncertainty to leading high-stakes corporate transformations.This week on the Treasury Career Corner, host Mike Richards sits down with Emma Hayward, Group Treasurer of Dowlais Group plc, a global engineering firm operating in the automotive sector. Emma shares her unconventional journey into treasury, lessons from working at industry giants like Merck and Tesco, and what it's really like to build a treasury team from scratch during a corporate demerger.Main topics discussed:Emma's early steps in finance, banking, and her unexpected move into treasuryWorking in global treasury operations at a pharmaceutical companyLife inside Tesco's treasury team pre and post-financial crisisHow Emma helped transform treasury's role to be more strategic and integrated with commercial functionsExecuting Tesco's first commodity trade and managing FX risk for thousands of productsLeading during financial uncertainty and a corporate credit downgradeSetting up a treasury function from scratch during a spin-offThe massive task of launching Dowlais Group's treasury operations post-demergerEmma's leadership principles and how she manages pressure and workloadAdvice on career growth, finding the right fit, and making strategic career decisionsYou can connect with Emma Hayward on LinkedIn. ---

I'm sure many of you have tried a GenAI LLM to do something. Maybe write some code, maybe get some sort of recommendation or suggestion, maybe to rewrite something or summarize text. I'm sure you have had some feelings about whether the tool made you more or less productive. There was a trial conducted by the Australia Department of the Treasury on Microsoft's 365 Copilot, asking for volunteers to participate and use the tool in their daily work. They used it and then completed a survey, which are summarized in this piece. Only 218 people went through the trial, and the results are interesting. Read the rest of How Helpful is a GenAI Copilot

We are back at HeroesCon for this episode where I met the owner of Time Tunnel Comics from nearby Hickory, NC, Jacob Edwards. Jacob had a booth at the show and had some treasury sized comics I was interested in. We chatted a while and he was gracious enough to agree to an interview after the floor at the con closed. Time Tunnel Comics has been around 24 years and has been owned by Jacob since 2018. Jacob has a unique story to tell. Not comics related, per se… but a very powerful a story, nonetheless. Then join Mike and comics pro, fellow podcaster, and pal, Andrew Malin, as they discuss two cool Superman vs. Flash races from the Silver Age, collected in the Treasury-sized comic featured in this episode. Time Tunnel Comics is found at 265 2nd Ave SE, Hickory, NC 28602. Follow the shop on Facebook and Instagram, and at their website https://www.timetunnelcomics.com/! Find Andrew on the Nerd Dome podcast and VelleityStudios.com where you can find lots of cool stuff! A big thanks to Jacob for his amazing story and great book recommendation, and thanks to Andrew for joining.

In this episode, Paul Galloway discusses the importance of strong bank relationships for treasurers. From credit and capital access to strategic advisory services, he explores how share-of-wallet, communication, and scorecards can help companies align with the right banking partners. Why does relationship strength matter, and how can it impact growth initiatives? Tune in to find out. Download or listen to the eBook here

The trio gang (Brian, Jeremiah, and Nic) goes into the real economic impact of tariffs, rising uncertainty, and how financial planning needs to adapt to both market volatility and emotional behavior. As headlines swirl about the administration's evolving trade strategy, the guys challenge listeners to examine their own “fortitude” for this economic shift—and whether they're reacting emotionally or strategically. Jeremiah emphasizes that personal impact matters more than GDP headlines, reminding listeners that preparation and liquidity are key to managing any downturn. Nic draws from his personal experiences to explain how unease around money often stems from deeper concerns—goals, family, and long-term plans—not just market performance. The episode also tackles estate planning with practical advice: when a will isn't enough, why trusts often make more sense, and how proper account titling and beneficiary audits can prevent probate delays. Plus, listener questions round out the hour, ranging from home buying decisions during economic uncertainty to the future of crypto and the Treasury's recent moves.   Listen, Watch, Subscribe, Ask! https://www.therealmoneypros.com Host: Brian Wiley & Jeremiah Bates ————————————————————— SPONSORS: Guild Mortgage: https://guildmortgage.com Ataraxis PEO https://ataraxispeo.com Tree City Advisors of Apollon: https://www.treecityadvisors.com Apollon Wealth Management: https://apollonwealthmanagement.com/ Formations: https://get.formationscorp.com/real-money-pros —————————————————————

The Fed meets but no rate change is expected, and the U.S. Treasury auctions $125 billion in debt this week. Ford and Palantir report today, and the SPX is up 9 straight days.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance.Investing involves risk, including loss of principal.Diversification strategies do not ensure a profit and do not protect against losses in declining markets.Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see ​schwab.com/indexdefinitions.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.(0131-0525)

Cabinet approves wide land offensive against Hamas in Gaza Strip, Government decides not to set up a commission of inquiry into the October 7th attack, Teachers and Treasury work out deal, end disruptions See omnystudio.com/listener for privacy information.

There are few more respected economic analysts in the world than the Financial Times Chief Economic Commentator Martin Wolf. Yesterday, we ran a conversation with Wolf about the survival of American democracy. Today, we talk Trumpian economics, particularly tariff policy. Wolf characterizes Trump's trade policies as historically unprecedented in their scale, comprehensive nature, and unpredictability. But are they “dumb”, I asked? He acknowledges genuine issues driving tariff policy like global imbalances and deindustrialization but believes the current approach won't solve these problems. Wolf explains that the US-China trade war is causing significant economic disruption, with prohibitive tariffs likely stopping trade between the world's two dominant economies. He warns that investor confidence is damaged by unpredictability, which will take years to restore, and questions the wisdom of dismantling America's alliance system. Dumb, dumb and dumber. Five Key Takeaways* Trump's tariff policies are unprecedented in economic history for their scale, comprehensive nature affecting most of the world, and extraordinary unpredictability.* There are legitimate economic problems regarding global imbalances and deindustrialization, but Wolf believes the current approach won't solve these issues and may worsen them.* The economic consequences include potential slowdowns in US retail sales, reduced profits for retailers, job losses, and decreased manufacturing investment due to uncertainty.* Investor confidence is severely damaged by unpredictability, with concerns about US government stability reflected in Treasury markets, and this uncertainty could take "a decade or two" to fully dissipate.* Wolf compares the current US withdrawal from global leadership to America's post-WWI rejection of the League of Nations, calling it "strikingly willful" and potentially destabilizing for the global order. Full TranscriptAndrew Keen: Hello everybody, we are at the London office of the Financial Times with the chief economics commentator of the newspaper, one of the world's leading economists, Martin Wolf. Martin's been on the show many times. Martin, before we went live you suggested to me that this was your moment, that suddenly economics has become interesting again. Is it because of this Tariff thing that a certain Donald Trump has introduced well, there's no doubtMartin Wolf: what you describe as this tariff thing has created a novelty, to put it mildly. He's done things that as far as I can see have never been done before in the history of economics. So and you don't normally live through an experience with a set of policies, trade policy, which has been pretty unexciting since the Second World War, and you're suddenly in a different world. And that was not quite what we expected. In addition to that, it's not even as though it's sort of predictably in a different world. It was sort of every day or so. It seems to be something different. So in that sense, yes, it is very, very exciting. Now, there are other things going on, obviously in the administration and other areas which might turn out to be even more important. The attack on science and the funding of science, for example, the attack on universities. These are all very, important, the dismantling of important parts of the government, the relationship with allies, but I think this tariff war is remarkable for its scale. We've never seen changes in tariffs on this level before. It's comprehensive nature that base effects most of the world and it's extraordinary unpredictability. So this This is a new world for economists and we will be studying this, I'm absolutely sure, for half a century.Andrew Keen: My sense, Martin, is that one of the reasons you're enjoying it is because you're a natural polemicist and you haven't pulled your punches in your columns. I think you recently wrote in one of your last FTPs that America is inevitably going to lose in this war against China. Is it as dumb? As it seems. I mean, you're the chief economist at the chief economics commentator at the FT, one of the world's, as I said, most respected economists. You're an expert on this area. Is it just dumb? Are there any coherent economic arguments in favor of tariffs, of what they're doing? Well, I think...Martin Wolf: There is a genuine problem, and part of that is to do with trade. And more broadly the balance of payments, which is affecting the U.S., is genuine. There's a real set of issues, and economists, including me actually, have been discussing these problems, which you might call actually two problems, the global imbalances problem and the deindustrialization problem. These are two real problems, economic and social. The problem is that it's very hard for me to see how these policies that are now being introduced will solve those problems worldwide, and they are global problems. And the way the war is being pursued, if you like, by the Trump administration is such as, I think, inevitably to lose the many of the allies they ought to have in this contest and therefore they are playing this match, if we like, without the help of lots of people who should be on their side. And I don't think the way they're going about it now will solve that problem. I think making it worse but yes there are a couple of genuine real problems which is perfectly reasonable for them want to for them to want to address address if they can do so in a coherent well-plannedAndrew Keen: relatively inclusive way is it a problem with China essentially in terms of China producing too much and not buying enough of American goods is that the heart of the problem I think the problem China'sMartin Wolf: not the only such country. They are right to observe that Germany has also behaved somewhat in the same way, but Germany's capacity for disruption, though very real in Europe and I wrote about that in my book on the crisis published about a decade ago, is not global. The rise of China was bound to be a massively disruptive event. How could it not be? Suddenly there's a new peer competitor out there in the world. I don't think we had the right or the capacity to prevent its rise I would have strongly opposed any such effort but some people I'm sure would disagree but China is a vast country with a tremendously capable population and an even more capable government than we thought 20 or 30 years ago and its rise was going to be very disruptive its disruption is for the world I mean it's also disrupted Europe a lot it's disrupted any country that is competing with Chinese manufacturers. Actually, that includes Japan. Japan has been displaced as a manufacturing exporter to significant degree by China. So it's not just about America. One of the mistakes is thinking it's just about America. The rise of China is a fundamental transformational moment. And there is a specific problem with China, which is it's been following the general line of East Asian manufacturing-led development but because it's much bigger and because there are features of its economy particularly excess savings which are even larger than in other countries the disruption is even bigger so there's a genuine disruptive force here which we should have started dealing with consistently.Andrew Keen: About two decades ago. My sense is that Trump is trying in his own peculiar way to walk back some of these policies. But has the damage already been done? Well, that's a very interesting question.Martin Wolf: There are two dimensions that some damage has been done because it's working through the system now. Right now, there's essentially prohibitive tariffs between the US and China. And that means that trade between these two countries is largely going to stop and inevitably that's going to do a lot of damage because they, on both sides, but notably with China's supplies of manufacturers to the U.S. There are an enormous number of businesses across the United States that depend on these products. So that's going to be a disruption and it's going show itself up in economic activity and retail sales in the U.S. That's going have a significant effect. But I think the more important point is the degree of unpredictability and the degree of zaniness of what's happened, introducing these so-called reciprocal tariffs, which were reciprocal on one day and essentially getting rid of them the next for 90 days without anyone knowing what will follow them, for example, or introducing these obviously not expected, massively prohibitive tariffs on China, 145% tariffs and 125% on the other side, people suddenly realize that sort of anything can happen, things that they couldn't possibly imagine. It was completely outside their worst nightmares that this is what would happen when Donald Trump became president. After the first term, they didn't experience that. So I think the realization... That the range of possible developments of events is so far outside what you thought was possible changes the way you view the future and inevitably I think it's going to make investors who are going to be affected by trade which is basically anyone in manufacturing quite a lot of other businesses very very nervous about making commitments which they can't walk back so I think that everybody's going to become very risk averse. That includes allies, potential allies, because they don't know what's going happen to them. Should they align themselves with the US? Well, maybe that won't work. Look at what has happened to Canada. So, I think the In this respect, they have broadened the range of possible futures in relationship to the US, still the most important country in the world, beyond anything they could imagine, and that cannot disappear quickly. It will take, I would have thought, a decade or two at best before people will say, Now we know exactly what's going on.Andrew Keen: Exactly how the U.S. Is going to behave again. In terms of the economic consequences, Martin, is the real damage, at least at this point, 100 days into the Trump administration, is there real damage to the U S economy and the U,S. Consumer? I think that...Martin Wolf: That's certainly going to be important. There's no doubt about it. There's a basic proposition in economics, which is still basically true. The biggest victim of protection, particularly at this sort of level. Is your own country. You are imposing massive adjustment shocks on your country by suddenly putting out of reach, a huge range of goods that they were used to buying. So that's a huge shock and they have to adjust their spending habits, the firms have to adjust how they structure themselves. That's ineluctable and as it all goes away, And if it all goes away, will they assume that it's all back to normal? I don't know. But of course, because the US is the US, it has imposed tariffs now, significant tariffs by historical standards. It used to be an average of 2% or so. Now it's 10%, leaving aside China and leaving aside of course the automobile sector which has got higher tariffs and all the other special cases that are being considered. So these all affect other countries. And, of course, the effect on China is certainly going to be very, very substantial because it's losing the ability, really, to export to its biggest single market, if you don't regard Europe as a single market. So there will be damage to China. And then there's a really big question. What does it mean for all the countries that might replace China? Vietnam for example, other East Asian countries, is there now going to be a huge opportunity or is the US going to jack up its, reintroduce its reciprocal tariffs, 50%, close to 50%, which case they're going to lose the market. So I think at the moment you'd have to say that everybody is going to feel... Actually or very close to actuallyAndrew Keen: damaged. And what's that gonna look like? Higher prices, fewer jobs? Well I would be, there will be countries that will, in the US in particular. What should we be so to speak looking forward to in the next couple of years? Well when I assume thatMartin Wolf: There will be a slowdown in retail sales of consumer goods which will be really quite significant. It will affect the profits of major U.S. Retailing and retail firms significantly and jobs in those activities. That's sort of the shock effect. There will be a risk factor in investment above all investment in manufacturing which will also be significant so I would expect manufacturing investment to decline too. Will that lead to an actual formal recession? I don't know. I don t have enough expertise on the day-by-day numbers. I think there s an additional factor which we mustn t underestimate, how that will play out, we don t know, which is the loss of confidence in the U.S. Government, and you can see that in the Treasury s market, which is most important market in the world, and the pricing there suggests some real nervousness about the future of stability of US economic policy. And here, I think the most important thing will be will there be a war on the Fed? Who's going to be the next Fed chair? What will Trump try to do to get the Fed to do what he wants? So there's going to be a shorter term medium short term impact on the economy. Through exports and, above all, also import availability. And there's going to be bigger concern which will affect investment. And, I think, people's confidence in US financial assets, which is ultimately about confidence in the US government and the consistency and probity of its policies. So short, medium, and long-term effects. How bad it will be, that depends very much on what is decided in the next few months. If in the end, the trade war disappears, Trump stops threatening the Fed, everybody thinks well they tried that it was a huge disaster and they've learnt and he's very flexible he could go away still but the next I think the next two three months are going to be very very important do they walk all this back pretty decisively or do they stick with it or even play double or quits we don't knowAndrew Keen: I don't know whether Mr. Trump knows. Finally, and that's one of Donald Runfield's unknown unknowns, especially when we get into the head of Donald Trump. Finally, Martin, you're very good at the big picture. What people are talking about this moment at the end of a US-centric economic world order, the demise of the dollar, perhaps the rise of cryptocurrency, obviously the 90s. Dimension. Was this? Two final questions. Firstly, is that true? Are we seeing a reoriented global financial system in America and the dollar no longer being central? And secondly, for all Trump's stupidity, was this in the long run inevitable? I mean, of course, Kane says in the long run, everything is inevitable, including our own deaths. Uh is this something that we should have expected it's just all come in a rush in a mad rush at the beginning of 2025 well these these are really difficult questions i think that's why i asked you you're the chief economics commentator in the ft if you can't answer them no one let's just say how i think about itMartin Wolf: There are two reasons why you could think the world wouldn't continue as it was. The first is the rise of China has genuinely changed the world. And the unipolar moment was clearly over and China is clearly a more credible peer competitor of the US across the board than the Soviet Union ever was. So in that sense, the world that the US comfortably dominated had gone, and it was bound to require a, and something I've written about many times, a forceful alliance strategy by the US using its web of alliances which are still so potent as the basis of its power and influence to maintain anything like that order. So that was the situation. What I don't think was inevitable is that the president who sort of declared the end of the US-led order would also be someone who basically stands not just for America first but America alone. I always attacked his allies so forcibly. So he has, as it were, taken apart the Alliance system and the values that were linked to that, on which I think U.S. Leadership was going to depend increasingly in future. So that's a, it doesn't seem to be a necessary shock and a rather strange one if you consciously detonate as such an important part of your power, but I suppose it is possible to argue that after 80 years since the war, second world war, the Americans have just sort of got tired of that world and tired of the responsibility of that well and they've sort of gotten tired with themselves, with the system that they've been living under. That's so obvious. Left and right agree they don't like modern America. Well once we look at that, then it may be that this was inevitable, but it was inevitable then for reasons that I don't fully understand. And that's probably a failure of my imagination. And the core remains that while America couldn't go on being precisely what it was in the 90s or early 2000s, where they made a bigger mess of it, but they didn't have to jump out of the world and the world they created with this stupendous speed. And it's very similar, and even more dramatic in its effects, when after the First World War the Americans repudiated the League of Nations, said Europe's got nothing to do with us, we're just going to leave it, gone. You sort it out and you know what happened as a result. Germans elected the Nazis and the Nazis started conquering the whole of Europe. So it's the American withdrawal. So suddenly, and so completely, well, complete, that's unfair, but so suddenly, with no obvious strategy to replace it, that seems to me striking, strikingly willful and a little bit mad and in any case, for me it's a surprise.Andrew Keen: And it changes the world. Well, on that chilling note, Martin Wolff, the chief economics commentator of BFT, given us much to think about. Martin, thank you so much. This story is only just beginning. We're gonna get you back on the show in the not too distant future to explain what comes after America. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit keenon.substack.com/subscribe

Subscribe on Patreon and hear this week's full patron-exclusive episode here: https://www.patreon.com/posts/128245289 Beatrice speaks with Nathan Tankus to walk through an oral history of the early months of DOGE's ongoing infiltration of the Treasury payments system and Social Security, why the "Trump-Musk Payments Crisis" threatens a bigger fundamental threat of US economic breakdown than even Trump's tariffs, and why Nathan tried (and failed) to crash the stock market. Runtime 2:36:28 Note: We're back! Thank you to everyone for all the well wishes and many kind messages during our parental leave. We have a lot coming together soon processing current events and reacting to some big developments that happened while we were away. As we ramp production back up we'll be prioritizing the patron feed first to make sure patrons get a full new episode every week. Get Health Communism here: www.versobooks.com/books/4081-health-communism Find Jules' new book here: https://www.versobooks.com/products/3054-a-short-history-of-trans-misogyny

Arthur Hayes says it's time to “long everything”—and in today's episode, NLW digs into why. Broadcasting from Token 2049 in Dubai, Hayes makes a bold case for an upcoming liquidity wave that could supercharge markets. NLW breaks down Hayes' forecast, the return of CZ to the public stage, and insights from BlackRock and Goldman on crypto's next chapter. Then it's a deep dive into troubling GDP numbers, the rising recession risk, and how the Fed may respond. Finally, we explore Bitcoin's strategic reserve deadline, wirehouse ETF adoption, and the Treasury's $2T stablecoin forecast. It's a full macro + crypto briefing you won't want to miss. Sponsored by: ⁠⁠⁠⁠⁠⁠Crypto Tax Calculator⁠⁠⁠⁠⁠⁠ Accurate Crypto Taxes. No Guesswork. Say goodbye to tax season headaches with Crypto Tax Calculator: Generate accurate, CPA-endorsed tax reports fully compliant with IRS rules. Seamlessly integrate with 3000+ wallets, exchanges, and on-chain platforms. Import reports directly into TurboTax or H&R Block, or securely share them with your accountant. Exclusive Offer: Use the code BW2025 to enjoy 30% off all paid plans. Don't miss out - offer expires 15 April 2025! Ledger Ledger, the world leader in digital asset security, proudly sponsors The Breakdown podcast. Celebrating 10 years of protecting over 20% of the world's crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now on ⁠⁠⁠⁠⁠⁠Ledger.com⁠⁠⁠⁠⁠⁠. Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribe to the newsletter: https://breakdown.beehiiv.com/ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

#604: The biggest trade shake-up in 135 years is happening right now. April brought tariff levels that economists say haven't been seen since the 1890s, creating ripple effects throughout the economy. We're seeing a stark disconnect between official economic data and how people feel about their financial future. While the economy added 177,000 jobs in April — beating forecasts — consumer confidence has plummeted to alarming levels. Almost 70 percent of Americans now expect higher unemployment ahead, despite the strong job numbers. The tariffs have triggered some unexpected behaviors. Companies rushed to import goods before prices increased, which ironically pushed the trade deficit to record levels. Consumers went on buying sprees for cars, computers, and other expensive items, fearing they'd soon cost much more. Meanwhile, inflation expectations have surged to their highest levels in decades. What does this mean for investors? Bond markets reacted dramatically, with Treasury yields posting one of the sharpest spikes on record mid-April before settling back down. The dollar weakened significantly, and economists have raised recession probability to 45 percent — up from 30 percent just last month. Small businesses are feeling the uncertainty too. After initial optimism about potential tax cuts and deregulation, their expectations have soured amid concerns about how tariffs might hurt smaller firms disproportionately. Market volatility has hit retirement savers particularly hard. We take a call from a listener named Johanna who shared that she lost 30 percent of her portfolio due to recent tariff-related swings. She's wondering whether she's still "Coast FIRE" — even when market shocks alter her retirement math. Join us as we break down April's economic data, explain what's behind the market volatility, and discuss what these historic tariffs might mean for your money in the months ahead. Timestamps: Note: Timestamps will vary on individual listening devices based on dynamic advertising run times. The provided timestamps are approximate and may be several minutes off due to changing ad lengths. (00:00) The Economic Experiment (02:00) April 2025 Job Gains (05:41) Interest Rate Forecast (07:04) Benefit of Roth Conversions during market declines (08:17) Tariffs and the Smoot-Hawley Tariff Act (13:23) The Bond Market (17:49) The Dollar's Decline (19:31) Economist's Recession Predictions (22:20) Consumer Sentiment (25:29) Consumer Spending Rises (27:13) Is Johanna still FIRE after the drop? Learn more about your ad choices. Visit podcastchoices.com/adchoices

If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below: http://www.monetary-metals.com/Snider/The Treasury Secretary spoke through the financial media to Jay Powell. He had a very simple message for the Fed Chair: pay attention to the 2s. And Ronald McDonald. It's not just the Treasury market. If only that was the case, there is also a close relationship - therefore strong warning - coming via the oil market, too. This is already why OPEC is itself shifting to recession economics.Eurodollar University's Money & Macro AnalysisBloomberg Bessent Says Two-Year Treasuries Signaling Fed Should Cuthttps://www.bloomberg.com/news/articles/2025-05-01/bessent-says-two-year-treasuries-are-signaling-fed-should-cutBloomberg Understanding the Unlikely Saudi Push for Lower Oil Priceshttps://www.bloomberg.com/opinion/articles/2025-05-01/opec-puzzle-understanding-the-saudi-push-for-lower-oil-pricesCNN McDonald's just had its worst quarter since Covid. It said customers are getting nervoushttps://www.cnn.com/2025/05/01/investing/mcdonalds-earnings-first-quarter-2025https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

[00:30] Young Americans Step Up (35 minutes) In an age when many world leaders act like emotionally immature children, a few young members of society are stepping up. The youthful members of the Department of Government Efficiency are exposing deep corruption in the U.S. Treasury, and American youth are again signing up to serve in the military. But these few bright spots and DOGE's government spending cutbacks won't solve our deeper problems. [35:00] One Nation Going Under (18 minutes) President Trump stated yesterday, “If we ever forget that we are one nation under God, then we will be a nation gone under.” Recognizing this truth will not save America unless we experience true national repentance.

Tony Arterburn, DavidKnight.gold, joins    The most recent Treasury report projects explosive growth for stablecoins over the next 3 years — and why not since they'll be used to soak up treasury bonds and repos.  It's a public-private partnership Trojan horse designed to track your every move and make everything a government-granted “privilege”     With trade wars, supply chain shocks, and currency manipulation on the horizon, gold and silver remain as true safe havens.Money should have intrinsic value AND transactional privacy: Go to DavidKnight.gold for great deals on physical gold/silverIf you would like to support the show and our family please consider subscribing monthly here: SubscribeStar https://www.subscribestar.com/the-david-knight-show Or you can send a donation throughMail: David Knight POB 994 Kodak, TN 37764Zelle: @DavidKnightShow@protonmail.comCash App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7For 10% off Gerald Celente's prescient Trends Journal, go to TrendsJournal.com and enter the code KNIGHTFor 10% off supplements and books, go to RNCstore.com and enter the code KNIGHTBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-david-knight-show--2653468/support.

2:30 Chemtrails, mRNA Kill Shots Self-Amplifying and Aerosol      Trump's administration is fast-tracking mRNA genetic injections again — this time self-amplifying — even as a new study shows spike in all cause mortality from the previous Trump shots     And as RFKj confirms DARPA's chilling chemtrail program, a new AeroVax aerosol inhalable mRNA nanotech is nearing approval 26:39 Trump Goes Full Knucklehead with MS-13 Tattoo Tantrum Over a Photoshopped Lie          Trump's unhinged meltdown over a crudely photoshopped MS-13 tattoo exposes not only his shocking ignorance but an administration cowed into sycophancy, afraid to tell him when he forgets to wear his pants.     His administration is ignoring REAL evidence of cartel activity by the individual in question and doubling down on fake evidence out of pride and a determination to never admit a mistake.  How typical.  How telling.  How amusing and dangerous at the same time. 50:42 Trump's First 100 Days: Dark Time for Free SpeechPalestinian student kidnapped by masked ICE agents without a warrant speaks for the first time as a multitude of free speech organizations line up behind the grad student similarly kidnapped merely for writing an op-ed that Trump disagreed with 1:03:26 Biden's Persecution of Ranchers DroppedBut will the Forest Service and armed agents be punished and dismissed? 1:13:14 LIVE audience comments 1:18:26 King Charles' Dark Night of the Soul as He Deals with CancerUnlike past monarchs who stood in awe of the King of Kings during Handel's Messiah or humbled themselves as “sinners” at death's door as the Hapsburg Emperors, Charles clings to a dark, hopeless view of mortality, ignoring the confident expectation of Christian salvation. 1:23:56 Supreme Court's Dangerous Gamble: Funding Catholic Charter Schools Could Unleash a Flood of Taxpayer-Backed Islamic Madrassas     A Catholic church's push for a taxpayer-backed charter school threatens to set a precedent that would funnel billions to Islamic madrassas, like those run by the Gulenists, who've already siphon nearly a billion annually in Texas alone under the guise of “science and math” schools.     From secular humanism to Sharia law, this explosive case risks entangling education with government money strings 1:33:39 Treasury Report Shows The STABLECOIN CONSPIRACYTony Arterburn, DavidKnight.gold, joins    The most recent Treasury report projects explosive growth for stablecoins over the next 3 years — and why not since they'll be used to soak up treasury bonds and repos.  It's a public-private partnership Trojan horse designed to track your every move and make everything a government-granted “privilege”     With trade wars, supply chain shocks, and currency manipulation on the horizon, gold and silver remain as true safe havens. 2:13:33 Eric Trump: “Banks Will Be Gone in 10 Years”Eric Trump is storming Dubai, hawking luxury properties and sketchy crypto schemes — Meet the New Crime Family, Same as the Old Crime Family They can't stop talking about a complete restructuring of financial systems. 2:22:13 “Freedom Cities” Exposed: A Crypto-Fascist Plot to Trap You in High-Tech Concentration Camps     This sinister scheme promises 10 new U.S. cities built on public land, free from “red tape.” But don't be fooled!     With the Department of Interior and HUD joining forces to seize federal land these cities are a combination “company town” and “Smart City” 2:36:37 VISA Wants You to Give Your Credit Card to an “AI Agent” Rolling out now are AI agents with the power to carry out designated complex tasks.  And VISA would like to encourage you to give it your credit card!  What could possibly go wrong? 2:41:59 The ONE-TWO Punch of Orwell, Then KafkaFederal agents from the FBI, ICE, and U.S. Marshals are terrorized an innocent family and took all their possessions.  Now, after the Orwellian SWAT Teaming IN ERROR, no one will talk to them about where their property is located like some out of control kafkaesque dictatorship 2:51:32 "Trump's Militarized Border: Enter NM and You Officially Enter a “Military Base”     Trump's plan to turn the U.S. border into a 60-foot-wide military no-man's-land, patrolled by troops and high-tech drones     We might want to remind ourselves that the US government created many of the most dangerous drugs as well as creating the drug cartels with the Drug WarIf you would like to support the show and our family please consider subscribing monthly here: SubscribeStar https://www.subscribestar.com/the-david-knight-show  Or you can send a donation through Mail: David Knight POB 994 Kodak, TN 37764 Zelle: @DavidKnightShow@protonmail.comCash App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7 Money should have intrinsic value AND transactional privacy: Go to DavidKnight.gold for great deals on physical gold/silver For 10% off Gerald Celente's prescient Trends Journal, go to TrendsJournal.com and enter the code KNIGHT For 10% off supplements and books, go to RNCstore.com and enter the code KNIGHTBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-david-knight-show--2653468/support.

Marty sits down with Brian Morgenstern to discuss the state of bitcoin policy.Our newsletter: https://www.tftc.io/bitcoin-brief/TFTC Elite (Ad-free & Discord): https://www.tftc.io/#/portal/signup/Discord: https://discord.gg/VJ2dABShBzBrian Morgenstern on Twitter: https://x.com/MorgensternNJBitcoin Voter Project: https://www.bitcoinvoterproject.org/Riot: https://www.riotplatforms.com/0:00 - Intro0:36 - We're winning in bitcoin policy10:18 - Fold & Coinkite11:50 - Policy priorities and timeline19:36 - Unchained20:05 - Order of priority - stables before bitcoin25:53 - Amassing wins for midterms29:09 - Getting bitcoin too entrenched to ban34:00 - Bitcoinized fin products38:04 - Treasury and BitBonds47:28 - We should not fund our demise56:06 - Trump PR strategy1:06:29 - Chevron doctrineShoutout to our sponsors:Foldhttps://tftc.io/foldCoinkitehttps://coinkite.comUnchainedhttps://unchained.com/tftc/Join the TFTC Movement:Main YT Channelhttps://www.youtube.com/c/TFTC21/videosClips YT Channelhttps://www.youtube.com/channel/UCUQcW3jxfQfEUS8kqR5pJtQWebsitehttps://tftc.io/Newslettertftc.io/bitcoin-brief/Twitterhttps://twitter.com/tftc21Instagramhttps://www.instagram.com/tftc.io/Nostrhttps://primal.net/tftcFollow Marty Bent:Twitterhttps://twitter.com/martybentNostrhttps://primal.net/martybentNewsletterhttps://tftc.io/martys-bent/Podcasthttps://www.tftc.io/tag/podcasts/