Podcasts about Treasury

In this week's episode of the Coin Stories News Block powered exclusively by Gemini, we cover these major headlines related to Bitcoin, macroeconomics, and global finance: Bitcoin Price Tumbles Amid Iran-Israel War Escalation Senate Passes Stablecoin Bill Trump Slams Fed for Not Cutting Rates Texas Signs Strategic Bitcoin Reserve Bill into Law $SMLR Plans To Buy 105,000 Bitcoins Strategy Stacks More BTC as Saylor Predicts $21 Million Bitcoin Price Can Bitcoin Defund Wars?  Read the full, free weekly newsletter at thenewsblock.substack.com ---- Invest as you spend with the Gemini Bitcoin Credit Card. Sign up today to earn a $200 intro Bitcoin bonus. The new orange Gemini Credit Card lets you earn Bitcoin on everything you buy: www.gemini.com/natalie  ---- References mentioned in the episode: President Trump's Post on “Successful Bombing” of Iran Iran's Foreign Prime Minister: “U.S. Crossed the Line” Iran Claims “No Nuclear Contamination from U.S. Bombings”  Iran's Parliament Officially Approves Closure of the Strait of Hormuz Bloomberg: “How Iran Could Wreak Havoc on Global Oil Trade” Fed's Jerome Powell Keeps Interest Rates Unchanged  Waller: A Fed Cut Could Come as Soon as July  Trump Pressures “Too Late Powell” to Cut in Post Trump Post Directed at Jerome Powell to Cut Rates Bessent Interview on Stablecoins and Dollar Supremacy  David Sacks Interview on GENIUS Act Passing Senate  Trump's Comments on the GENIUS Act Passing Senate Trump Urges House to Send Him the GENIUS Act ASAP Texas Signs Strategic Bitcoin Reserve Bill into Law Coin Stories Interview with Eric Semler and Renae Cormier  Smarter Web Company Raises 21 Million Shares  Semler Scientific Hires Bitcoin Veteran and Announces Plans DayDayCook Raises More Than $500 Million to Buy Bitcoin Alex Gladstein's Article on Fiat and Forever Wars ---- Upcoming Events: Bitcoin 2026 will be here before you know it. Get 10% off Early Bird passes using the code HODL: https://tickets.b.tc/event/bitcoin-2026?promoCodeTask=apply&promoCodeInput=  Your Bitcoin oasis awaits at Camp Nakamoto: A retreat for Bitcoiners, by Bitcoiners. Code HODL for discounted passes: https://massadoptionbtc.ticketspice.com/camp-nakamoto      ---- This podcast is for educational purposes and should not be construed as official investment advice. ---- VALUE FOR VALUE — SUPPORT NATALIE'S SHOWS Strike ID https://strike.me/coinstoriesnat/ Cash App $CoinStories #money #Bitcoin #investing

Sam Schulhofer-Wohl is a senior vice president and the senior advisor to President Lorie Logan of the Federal Reserve Bank of Dallas. Sam returns to the show to discuss recent macroeconomic conferences in the context of changes in the Treasury market and with central bank operating systems around the globe. Check out the transcript for this week's episode, now with links. Recorded on May 27th, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel  Timestamps 00:00:00 - Bumper 00:00:20 - Intro 00:01:19 - Monetary Policy Conferences 00:03:15 - Role of Nonbank Institutions in the Treasury and Money Markets 00:07:48 - Central Clearing 00:33:19 - Operating Systems in Central Banks 00:49:52 - Outro

Believers Voice of Victory Video Broadcast for 06/23/2025. The LORD will open up His good treasure to you! Join Kenneth Copeland on Believer's Voice of Victory as he reminds you that you have the authority to command THE BLESSING. Find out how to always stay on THE BLESSING side of life!

Bitcoin treasury strategies are all the rage, but are they actually sustainable?You're listening to Bitcoin Season 2. Subscribe to the newsletter, trusted by over 7,000 Bitcoiners: https://newsletter.blockspacemedia.comWelcome back to Bitcoin Season 2! Today, Colin and Charlie talk about the explosive growth of Bitcoin treasury companies and their financial engineering strategies. They break down Strategy's convertible debt playbook, examine why these companies trade at premiums to their Bitcoin holdings, and debate whether this trend is sustainable or an elaborate house of cards waiting to collapse.Subscribe to the newsletter! https://newsletter.blockspacemedia.com**Notes:**• MicroStrategy holds 592,100 Bitcoin• Q1 2025 revenue: $111 million • Convertible notes have 0-1% interest rates• Bitcoin needs to drop way low for liquidation• Preferred shares pay 8-10% dividends• Annual obligations: $10-20 billionTimestamps:00:00 Start02:59 Strategy (formerly micro)10:42 Types of companies15:13 Preferred stock24:57 Closed end fund dynamics-

You've ridden along this week with Stigall on his "Trust Trump" prescription for this fight between Israel and Iran and yesterday proved why that's sound advice. Why are Senate Republicans squabbling over Medicaid cuts? And the media continues to frame the "big beautiful bill" as something that only spends and generates no new revenue for the Treasury. Jim Pfaff of the Conservative Caucus on what he's hearing from people inside the debate on Capitol Hill. Agriculture Secretary Brooke Rollins makes a surprise appearance toward the end of the show today to discuss migrant work on farms versus Tom Homan and ICE's commitment to deport illegal aliens. Can farms function without illegal labor? -For more info visit the official website: https://chrisstigall.comInstagram: https://www.instagram.com/chrisstigallshow/Twitter: https://twitter.com/ChrisStigallFacebook: https://www.facebook.com/chris.stigall/Listen on Spotify: https://tinyurl.com/StigallPodListen on Apple Podcasts: https://bit.ly/StigallShow -Help protect your wealth with real, physical gold and silver. Texas Bullion Exchange helps everyday Americans diversify with tailored portfolios, IRA rollovers, and expert support every step of the way.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky's Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.An engineer and brewer thought he would take up home distilling as a hobby, but he then learned it's a federal crime. In Ream v. U.S. Department of Treasury, he's fighting back. The Buckeye Institute's Robert Alt explains. Hosted on Acast. See acast.com/privacy for more information.

Christian talks to Professor Jakob Feinig about how right-wing politics is bolstered by the myth that humans are part of a mechanism they can neither understand nor change - The Market - and the efforts to further its mystification, known as “monetary silencing”.   Please help sustain this podcast!  Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast     All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our patron-only episodes: https://www.patreon.com/posts/57542767   LIVE EVENTS! Modern Money Lab UK weekend seminars in London featuring Dr Steven Hail:  June 21st & 22nd (White City) - Rethinking Capitalism June 28th & 29th (Finsbury Park) - Money, Government and the Public Interest - Beyond The Deficit Myth Details and tickets: https://modernmoneylab.org.uk/events/   JOIN PATRICIA'S MMT ACTIVIST NETWORK (MMT UK): https://actionnetwork.org/forms/activist-registration-form   MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: https://findingthemoney.vhx.tv/products/finding-the-money Updates on worldwide screenings of “Finding The Money” can be found here: https://findingmoneyfilm.com/where-to-watch/ To arrange a screening of “Finding The Money”, apply here: https://findingmoneyfilm.com/host-a-screening/   STUDY THE ECONOMICS OF SUSTAINABILITY! Details of Modern Money Lab's online graduate, postgraduate and standalone courses in economics are here: https://modernmoneylab.org.au/     Relevant to this episode: “MAGA, the Job Guarantee, and Post-Neoliberal Public Knowledge” by Jakob Feinig: https://www.postneoliberalism.org/articles/maga-the-job-guarantee-and-post-neoliberal-public-knowledge/#primary “Moral Economies of Money” by Jakob Feinig: https://www.sup.org/books/title/?id=33698 Money On The Left Collective: https://moneyontheleft.org/ Our episode 69 with Scott Ferguson & Maxx Seijo from Money On The Left -  “The Choreographers of Credit” - on the “Uni” credit-issuance project: https://www.patreon.com/posts/42552289 “How to Fight Back Against the False Idea that the Government is at the Mercy of Financial Markets” by Sheridan Kates: https://thealternative.org.uk/dailyalternative/2025/3/10/scotonomics-monetary-autonomy For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 and episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 For more on the (Liz) Trussageddon, listen to Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421   For an intro to MMT: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   Quick MMT reads: Warren's Mosler's MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail's quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/     For a short, non-technical, free ebook explaining MMT, download Warren Mosler's “7 Deadly Innocent Frauds Of Economic Policy” here: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf     Episodes on monetary operations:  Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683  Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929    For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: https://www.patreon.com/posts/39070023 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true    Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What's Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558   Our Job Guarantee episodes:  Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346 Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/   More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true   More on bank runs banking regulation:  Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true MMT founder Warren Mosler's Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: https://neweconomicperspectives.org/2010/02/warren-moslers-proposals-for-treasury.html     MMT Events And Courses: More information about Professor Bill Mitchell's MMTed project (free public online courses in MMT) here: http://www.mmted.org/ Details of Modern Money Lab's online graduate and postgraduate courses in MMT are here: https://modernmoneylab.org.au/     Order the Gower Initiative's “Modern Monetary Theory - Key Insights, Leading Thinkers”: https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html   MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies   MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship     A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757     We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos     Show notes: https://www.patreon.com/posts/episode-199-wing-131820648

The Justice system and WOKE judges now want to run Trump's Administration. NOT! Republican lawmakers who oppose DOGE budget cuts should be primaried and replaced. Lawmakers who went too far to find 'mediocrity', have gone too far. Decisive actions are needed now. The U.S. Congress sat silently on the sidelines BEFORE Trump and dropped the ball. Congress did not move so Trump did! Elon Musk leaves today saving BILLIONS of dollars for all taxpayers, in just 120 days! Shame on the U.S. Congress for doing nothing on this budget causing Trump to bring in Elon in the first place to solve our financial woes. The speed of the transition is unprecedented, and now Congress wants unprecedented cuts overnight? Scott Bessent, Secretary of the Treasury, has put together a strategy at 'light speed' by any standard BUT, let him transition over two years so as not to hemorrhage the stock market. Separately, most BLUE STATES have a state income tax. ALL want to be able to deduct the taxes paid to the state, as an expense deduction on the federal tax return, to reduce the federal taxable income. NOT FAIR.WMXI Episode 168: Secure Trump's Budget ~ Get Rid of Rino's!Originally Aired on WMXI Radio on Friday, May 30, 2025Special thanks to the following source(s) for the image(s) used in this content: The Fallible Man LLC➡️ Join the Conversation: https://GeneValentino.com➡️ WMXI Facebook Page: https://www.facebook.com/NewsRadio981➡️ More WMXI Interviews: https://genevalentino.com/wmxi-interviews/➡️ More GrassRoots TruthCast Episodes: https://genevalentino.com/grassroots-truthcast-with-gene-valentino/➡️ More Broadcasts with Gene as the Guest: https://genevalentino.com/america-beyond-the-noise/ ➡️ More About Gene Valentino: https://genevalentino.com/about-gene-valentino/

J.T. Young, author of the recent book, 'Unprecedented Assault: How Big Government Unleashed America's Socialist Left' from RealClear Publishing and has over three decades' experience working in Congress, the Department of Treasury, the Office of Management, and Budget, and representing a Fortune 20 company.  Iran/Isreal War. Trump weighs military action against Iran amid mounting legal concerns. Democrats Talk Only to Themselves on Immigration.

In this live Roundup episode from the Monetarium 2 conference in DC, we unpack the Fed's hawkish pivot, the growing risk of stagflation, and Powell's apparent commitment to being “late” with rate cuts. We debate what an SLR exemption means for bond markets, how Treasury issuance and TGA refills could spike yields, and why 2026's Fed chair pick could upend everything. We also explore global capital flows, the decline of US dollar dominance, and how to navigate a world where almost every asset feels dangerous to own. Enjoy! — Follow Joseph: https://x.com/FedGuy12 Follow Quinn: https://x.com/qthomp Follow Felix: https://twitter.com/fejau_inc Follow Forward Guidance: https://twitter.com/ForwardGuidance Follow Blockworks: https://twitter.com/Blockworks_ Forward Guidance Telegram: https://t.me/+CAoZQpC-i6BjYTEx Forward Guidance Newsletter: https://blockworks.co/newsletter/forwardguidance — Join us at Permissionless IV June 24th - 26th. Use code FG10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Echo Protocol is the first Bitcoin liquid re-staking and yield layer on MoveVM. As the second-largest protocol on Aptos by TVL, Echo secures nearly half of the network's bridged assets with ~$270M in aBTC minted. https://www.echo-protocol.xyz/ — Timestamps: (00:00) Introduction (02:00) FOMC Decision (09:06) Aptos Ad (09:50) FOMC Decision (13:09) Noisy Economic Data (14:14) SLR Changes (18:43) TGA Drain & Buildup (24:50) Long Bond Yields (25:28) Aptos Ad (26:21) Long Bond Yields (29:11) Powell Replacement (34:38) Fiscal Dominance (39:58) US Assets vs ROW (46:12) Dollar Losing Reserve Status? (51:17) Where to Put Your Money — Disclaimer: Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed. #Macro #Investing #Markets #ForwardGuidance

Its mid-June so it is all about the FOMC.  However, there are a lot of cross-currents out there from a fiscal and regulatory standpoint that may have differing effects on Treasury demand. What are we to do? Hard to say because even the FOMC doesn't know what to do!   Have a listen and let us know what you think

This week on Westminster Insider, host Patrick Baker takes a pint-fueled tour through some of Westminster's best-known watering holes in his bid to find out what makes the best political boozer. Reform UK leader Nigel Farage explains why the Westminster Arms is his favorite pub and why his longtime friend, Gerry Dolan, its former landlord, is behind the pub's popularity. Dolan himself recounts how lager-loving politicians would race over the road to vote at the sound of the division bell, before haring back to finish their drinks, and remembers how each of the different parties under his roof would occupy various corners of his pub like tribes.  Celia McSwaine, a former special adviser to ex-Chancellor Kwasi Kwarteng, illuminates the role of the Two Chairmen as the Treasury's designated post-Budget pub and recounts how the drinks were flowing in the immediate hours after the fateful mini-budget, before any economic meltdown had struck. Pub enthusiast James Potts, a Labour councillor in Islington and author of "What's in a London pub name?" regales Patrick with the exotic history of the Two Chairmen from the secrecy of its top room, the site of much political plotting over the years.  Andy McSmith, former Chief Political Correspondent at The Observer, joins Patrick at the Red Lion in the heart of Westminster, recounting his pivotal role in breaking the infamous story that Gordon Brown's former spin doctor Charlie Whelan had told Tony Blair that the U.K. would not be joining the Euro, from just outside the pub. Former Education and Culture Secretary Nicky Morgan returns to The Blue Boar, a discreet pub she says she hasn't been back inside since she found out there that the UK was to leave the European Union. Labour insider Sienna Rodgers, Deputy Editor of parliamentary magazine The House, meets Patrick in The Clarence, and offers her top tips on where to find Labour MPs and special advisers nowadays.  And finally Patrick visits the famous Marquis of Granby pub, where journalist and Reform supporter Tim Montgomerie and Nigel Farage's former press secretary Gawain Towler describe how the 'MOG', as it's known, is Westminster's consummate rebel pub, ideal for plotting a political insurgency during the long days of opposition. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Federal Reserve may cut faster and to a lower interest rate then the market is pricing, Bloomberg Intelligence Chief US Interest Rate Strategist Ira Jersey says on this Macro Matters edition of the FICC Focus podcast series. Jersey flies solo on this episode, discussing his takeaways from the June FOMC meeting, his view on the timing and pace of rate cuts and what it would mean for the Treasury yield curve.

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger PictureThe [DS]/[CB] are pushing back using the Federal Reserve, what we are seeing is the same thing we see with the judicial branch. Sometimes the people must see it. Trump is building parallel economy and now he wants the Genius act passed so cryptos can support the currency. The transition away from the [CB] has begun, gold will be last. The [DS] has been stripped of funding, intelligence and their terrorist army. The [DS] has been weakened beyond belief and the D's are hanging on by a thread. Iran contacted Trump and within the next two weeks we will see if the [DS] surrenders or they are going to fight. Trump has now messaged that the patriots have taken control by raising the flag at the White House. We are witnessing the cleanup operation.   Economy https://twitter.com/C_3C_3/status/1935402446848680019 (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); https://twitter.com/BasedMikeLee/status/1935400301973897410   https://twitter.com/SecScottBessent/status/1935404649718157691  to establishing the United States as a hub for digital asset innovation, and the GENIUS Act moves us one step closer to that goal.  (Guiding and Establishing National Innovation for U.S. Stablecoins of 2025), a bill passed by the U.S. Senate with a 68-30 vote on June 17, 2025. This legislation establishes the first federal regulatory framework for stablecoins, which are cryptocurrencies pegged to assets like the U.S. dollar to maintain a stable value. The bill aims to:  It mandates that stablecoins be fully backed by liquid assets (e.g., U.S. dollars or Treasury bills), requires issuers to hold proper licenses, enforces anti-money laundering checks, and demands monthly reserve disclosures for transparency.    Supporters, including Trump, argue it positions the U.S. as a global leader in digital assets by fostering innovation, protecting consumers, and maintaining the dominance of the U.S. dollar in the digital economy. The bill is seen as a step toward integrating stablecoins into mainstream finance, potentially lowering transaction costs and enabling instant payments.  Advocates claim it could unlock significant economic benefits, such as reducing government borrowing costs, attracting investment, and growing the stablecoin market (projected to reach $3.7-$4 trillion). It's also expected to drive demand for U.S. Treasuries and onboard millions into the dollar-based digital economy. Trump's urgency for the House to pass a “clean” version—without amendments—stems from concerns that changes could delay the process, as any modifications would require Senate reconciliation. He's pushing for swift action to sign it into law before the August 2025 recess, aligning with his broader vision of making the U.S. a crypto hub. He is saving Gold for last 2619 Dec 12, 2018 7:01:15 PM EST Q !!mG7VJxZNCI ID: 089200 No. 4281049  Dec 12, 2018 6:57:57 PM EST Anonymous ID: 376ff2 No. 4280876  >>4280189 Q: Do we have the GOLD? >>4280876 Yes. GOLD shall destroy FED Q Political/Rights https://twitter.com/libsoftiktok/status/1935688135758803183

Get ready to unpack some wild real estate stories and political showdowns with former McDowell County Commissioner and longtime real estate professional Andy Webb. From dealing with aggressive Treasury agents to local water wars and property tax debates, this conversation dives deep into the gritty realities faced by property owners in Western North Carolina. Tune in for an eye-opening discussion about community trust, government overreach, and why local knowledge trumps federal oversight every time.   Key takeaways to listen for What happens when a Treasury agent demands local property? Why FEMA's disaster response sparked local outrage The big questions after a natural disaster changes property lines forever A dramatic battle between counties for the lifeblood of community growth How skyrocketing property values impact local families and community futures   Resources mentioned in this episode FEMA Patriot Relief    About Andrew WebbAndrew is a former McDowell County Commissioner and a seasoned real estate professional who began his journey in banking with Northwestern Bank. Having earned his broker's license in 1976, he has deep roots in Western North Carolina and a clear-eyed perspective shaped by decades in both private entrepreneurship and public service. Known for his independent spirit and candid approach, Andrew's experiences shed light on the complicated intersection of real estate, politics, and community.   Connect with Andrew Email: andrewkwebb56@gmail.com  Connect with Leigh Please subscribe to this podcast on your favorite podcast app at https://pod.link/1153262163, and never miss a beat from Leigh by visiting https://leighbrown.com. DM Leigh Brown on Instagram @ LeighThomasBrown.   Sponsors "You Ask. Leigh Answers." Your Affordable Coaching Program Hey there, real estate pros! Are you ready for some more Leigh Brown wisdom in your life? Then don't miss out on my brand-new program, "You Ask. Leigh Answers." It's your exclusive gateway to the insights and advice you need to supercharge your real estate business. With "You Ask. Leigh Answers." you get Direct Access to Leigh Brown, directly! Expert Coaching, Community Connection, and Extensive Resources. Whether listening to this on the go or watching at home, sign up today at Answers.RealEstate and take your business to the next level. Trust me, you'll be glad you did!  

Jerome Powell and the Federal Reserve left rates unchanged in June, signaling caution amid inflation concerns and trade uncertainty. While two cuts remain on the table for 2025, Powell warned tariffs will likely raise prices, and investors shouldn't expect quick moves. Treasury yields stalled as markets processed the mixed signals, with Powell emphasizing a “wait-and-see” approach. Learn more about your ad choices. Visit megaphone.fm/adchoices

19th June: Blockchain DXB podcast

Last week, the U.S. Treasury held an auction for 30-year bonds. Some were worried no one would show up to buy these things! That didn't happen, but the 'long bond' isn't exactly thriving at the moment. Today on the show, we look back at why we have such a long maturity bond and why it might be a good idea to start paying attention to it going forward.Related episodes:Bond market nightmares (Apple / Spotify)Bond vigilantes. Who they are, what they want, and how you'll know they're coming (Apple / Spotify)Trying to solve the mystery of big bond yields (Apple / Spotify)For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

Our Global Commodities Strategist Martijn Rats explores three possible scenarios for oil prices in light of geopolitical shifts in the Middle East.Important note regarding economic sanctions. This research may reference jurisdiction(s) or person(s) which are the subject of sanctions administered or enforced by the U.S. Department of the Treasury's Office of Foreign Assets Control (“OFAC”), the United Kingdom, the European Union and/or by other countries and multi-national bodies. Any references in this report to jurisdictions, persons (individuals or entities), debt or equity instruments, or projects that may be covered by such sanctions are strictly incidental to general coverage of the relevant economic sector as germane to its overall financial outlook, and should not be read as recommending or advising as to any investment activities in relation to such jurisdictions, persons, instruments, or projects. Users of this report are solely responsible for ensuring that their investment activities are carried out in compliance with applicable sanctions.Read more insights from Morgan Stanley.----- Transcript -----Martijn Rats: Welcome to Thoughts on the Market. I'm Martin Rats, Morgan Stanley's Global Commodity Strategist. Today I'll talk about oil price dynamics amidst escalating tensions between Israel and Iran. It's Wednesday, June 18th at 3pm in London. Industry watchers with an eye on the Brent Forward Curve recently noticed a rare smile shape: downward sloping in the first couple of months, but then an upward sloping curve later this year, and into 2026. Now that changed last Friday. The oil market creates these various shapes in the Forward Curve, depending on how it sees the supply demand balance. When the forward curve is downward sloping, holding inventory really is quite unattractive; so typically, operators release barrels from storage under those conditions. The market creates that structure when the conditions are tight, and barrels indeed need to be released from storage.Now on the other end, when the market is oversupplied, oil needs to be put into inventory, and the market makes this possible by creating an upward sloping curve. So, the curve that existed until only recently told the story of some near-term tightness first, but then a substantial surplus later this year and into 2026. Now when the tensions in the Middle East escalated late last week, the oil complex responded strongly. But not only did the front-month Brent future, i.e. oil for delivery next month rise quite sharply by about 17 percent, the impact of the conflict was also felt across all future delivery dates. By now, the entire forward curve is downward sloping, which means that the oil market no longer is pricing in any surplus next year – a big change from only a few days ago. Now, no doubt, Friday's events have sharply widened the range of possible future oil price paths. However, looking ahead, we would argue that oil prices fall in three main scenarios. Together they provide a framework to navigate the oil market in the next couple of weeks and months. First, let's consider the most benign scenario. Military conflict does not always correlate with disruptions to oil supply, even in major oil producing regions. So far, there is no reduction in supply from the region. If oil and gas infrastructure remains out of the crosshairs, it is entirely possible that that continues. In that case, we might see brand prices retract to around about $60 per barrel, down from the current level of about $76 per barrel.Our second scenario recognizes that Iran's oil exports could be at risk either because of attacks on physical infrastructure or because of sanctions – mirroring the reductions that we saw during 2018's Maximum Pressure Campaign by the United States. If Iran were to lose most of its export capacity, that would broadly offset the surplus that we are currently modeling for the oil market next year, which would then in turn leave a broadly balanced market. Now in a balanced oil market, oil prices are probably in a $75 to $80 per barrel range. The third and most severe scenario encompasses a broad regional disruption, possibly pushing prices as high as 2022 levels of around $120 a barrel. Now, that could unfold if Iran targets oil infrastructure across the wider Gulf region, including critical routes like the Strait of Hormuz, through which a significant portion of the world's oil transits. The situation remains very fluid, and we could see a wide spectrum of potential oil price outcomes. We believe the most likely scenario remains the first – our base case – with supply eventually remaining stable. However, the probabilities of the more severe disruptions whilst currently still lower, still justify a risk premium of about $10 per barrel for the foreseeable future. As we monitor these developments, investors should stay alert to signs such as further attacks on all infrastructure or escalations in sanctions, which could signal shifts towards our more severe scenarios. Thanks for listening. If you enjoyed the show, please leave us a review wherever you listen. And share Thoughts on the Market with a friend or colleague today.

In this Dividend Cafe episode, Brian Szytel reviews the day's market performance, noting minimal movement across indices and bonds despite it being a Fed day. Key topics include unchanged interest rates, a downgrade in U.S. GDP growth by the Fed, and a focus on housing market weaknesses and their economic implications. Brian discusses the significant Treasury maturities upcoming and the potential for expedited rate cuts. Legislative updates include the passage of a major bill making the 2017 TCJA tax cuts permanent and addressing other taxation issues. The episode concludes with jobless claims data and an outlook on future employment rates, alongside reminders about market closures for the Juneteenth holiday. 00:00 Introduction to Dividend Cafe 00:16 Market Overview and Fed Report 01:33 Housing Market Insights 02:22 Treasury and Interest Rates 03:05 Legislative Updates 04:37 Investment Strategies and Economic Calendar 05:55 Closing Remarks and Disclaimers Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

48:33- Dr. Rebecca Grant, national security analyst based in Washington, D.C. Specializing in defense and aerospace research, founder of IRIS Independent Research, and Senior Fellow at the Lexington Institute, joins Joe Piscopo to discuss the latest buzz surrounding the Israel-Iran conflict. Topic: Latest in Israel-Iran conflict 1:09:42- Stephen Moore, "Joe Piscopo Show" Resident Scholar of Economics, Chairman of FreedomWorks Task Force on Economic Revival, former Trump economic adviser and the author of "The Trump Economic Miracle: And the Plan to Unleash Prosperity Again", joins Joe Piscopo to discuss the cons that can come if congress does agree to a remittance tax. Topic: Why Congress should say no to a remittance tax 1:23:00- Congresswoman Nicole Malliotakis, Representative for New York's 11th Congressional District, joins Joe Piscopo to discuss providing relief for her district and making sure that the hard money people make and the taxes being payed will not be going to help illegal immigrants. Topic: Brad Lander's arrest, SALT deduction 1:47:01- Miranda Devine, columnist for the New York Post and the author of "The Big Guy", joins Joe Piscopo to discuss the wage growth for Blue-collar workers under the Trump Administration which has been the largest increase in almost 60 years. Topic: "Blue-collar wage growth under Trump sees largest increase in nearly 60 years, Treasury sec reveals on Pod Force One" (New York Post op ed) 1:59:43- Michael Goodwin, Chief Political Columnist for the New York Post, joins Joe Piscopo to discuss the latest in the NYC Mayoral election, breaking down each candidate. Topic: "Cuomo should thank Mamdani for making him look like the safe, stable choice for NYC mayor" (New York Post op ed) 2:16:37- Dr. Louis Stimmel, Chiropractic Physician, Anonymous Living Kidney Donor Recipient and Karen Reardon, the wife of Chris Reardon, who needs a kidney transplant Topic: Becoming a living kidney donor See omnystudio.com/listener for privacy information.

In this episode of Future Finance, hosts Paul Barnhurst and Glenn Hopper welcome Natalia Toronyi, a finance executive with nearly 20 years of experience in financial transformation. The conversation delves into Natalia's impressive journey from navigating life during the collapse of the Soviet Union in Ukraine to leading financial transformations in major global companies. The episode explores how AI is reshaping finance, particularly in the areas of internal audits, treasury, and talent management. Natalia shares insights on the real-world applications of AI in finance, discussing both its potential and challenges.Natalia Toronyi is a finance executive with nearly two decades of experience leading financial transformations across various sectors, particularly in Fortune 500 global industrial manufacturing companies. Known for her problem-solving mindset and focus on data-driven decision-making, Natalia has led numerous automation and digital transformation projects. Her passion for people-first leadership, integrity, and innovation has made her a trusted leader in the finance space.In this episode, you will discover:How AI is transforming the finance function, from internal audits to treasury management.The importance of creating well-defined processes and SOPs as AI continues to integrate into business functions.How automation and AI tools can optimize working capital, cash flow forecasting, and financial risk management.The evolving role of talent in the finance industry and how leaders should focus on developing strategic and critical thinking skills.Key considerations when evaluating AI tools for finance teams, including scalability, security, and ROI.Natalia's expertise makes this episode a must-listen for anyone interested in AI and finance. Her insights on AI in audits, treasury, and talent management offer valuable takeaways for both finance professionals and tech enthusiasts, inspiring new ways to approach decision-making and business processes.Follow Natalia:LinkedIn - https://www.linkedin.com/in/nataliatoronyi/Join hosts Glenn and Paul as they unravel the complexities of AI in finance:Follow Glenn:LinkedIn: https://www.linkedin.com/in/gbhopperiiiFollow Paul:LinkedIn - https://www.linkedin.com/in/thefpandaguyFollow QFlow.AI:Website - https://bit.ly/4i1EkjgFuture Finance is sponsored by QFlow.ai, the strategic finance platform solving the toughest part of planning and analysis: B2B revenue. Align sales, marketing, and finance, speed up decision-making, and lock in accountability with QFlow.ai. Stay tuned for a deeper understanding of how AI is shaping the future of finance and what it means for businesses and individuals alike.In Today's Episode:[03:27] - Natalia's Background[10:09] - Treasury & AI[13:08] - AI in Audits[17:07] - Evaluating AI Tools[24:39] - Talent Development & AI[28:10] - Future of Finance[32:41] - Advice to Younger Self[33:23] - Leadership Across Cultures[35:02] - Episode Wrap-Up

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2 - Scott Presler joins us today after being in the air during our usual chat time yesterday. Why was he in California? Was Scott riding golf carts at Bedminster? How disciplined is Scott with his diet and exercise? Will he be carrying voter registration around on his hikes? What are the latest PA voting numbers? Why is Scott thankful to the PA GOP's efforts? What is Scott's plan for the next primaries, as well as the governor's race in New Jersey? 205 - Your calls. 215 - Dom's Money Melody! 225 - Teasing more Mulligan's shenanigans. 230 - Joe Lavorgna, Counselor to the Secretary, U.S. Department of the Treasury, joins the program. What is the “Blue Collar Boom”? What is giving the impression that real wages gained will happen as inflation falls? What does the Treasury's office think of the “Big Beautiful Bill”? 240 - Your calls. 250 - The Lightning Round!

12 - It's Dom from down the shore this week. Why is Ilhan Omar so ungrateful to be an American? Why is John Fetterman the voice of reason, and why are Republicans so afraid to trust him? 1205 - Tulsi Gabbard disagrees with Trump's assessment of Iran and the decision to bomb them. What is Trump's response? 1210 - Side - associated with country music 1220 - Scott Bessent speaks, and Dom listens. Some bad news regarding Dom Giordano Day. 1230 - Colonel Allen b. West is back on the motorcycle! Why did he get back on the bike? With Trump preaching a message of getting out on unending wars, how does Colonel West feel about the latest strike against Iran? What intelligence was Trump going off of when deciding on this attack? How do neighboring countries feel about Iran? What is Colonel West's side question answer? 1240 - Is Fox News and The New York Post as bad with propaganda as the legacy media? Marjorie Taylor Greene thinks so. 1250 - Your calls. 1 - Steve Feldman, Philadelphia ZOA Executive Director, joins the program to react to Israel's attack on Iran and Trump's response to Iran's threats. How is ZOA helping Jewish-Americans fight for themselves against anti-Semites? Why is it so important for the U.S. to stand with Israel? 105 - Why is Tucker Carlson taking on Trump now? Why is he opposed to this move against Iran? What does Dom think? 115 - Your calls in response to Dom disagreeing with Tucker Carlson. Dom's response to your calls. 135 - Continuing with your calls on Trump and how he is handling Israel/Iran. 150 - Teasing Mulligan's on Friday. More of your calls. 2 - Scott Presler joins us today after being in the air during our usual chat time yesterday. Why was he in California? Was Scott riding golf carts at Bedminster? How disciplined is Scott with his diet and exercise? Will he be carrying voter registration around on his hikes? What are the latest PA voting numbers? Why is Scott thankful to the PA GOP's efforts? What is Scott's plan for the next primaries, as well as the governor's race in New Jersey? 205 - Your calls. 215 - Dom's Money Melody! 225 - Teasing more Mulligan's shenanigans. 230 - Joe Lavorgna, Counselor to the Secretary, U.S. Department of the Treasury, joins the program. What is the “Blue Collar Boom”? What is giving the impression that real wages gained will happen as inflation falls? What does the Treasury's office think of the “Big Beautiful Bill”? 240 - Your calls. 250 - The Lightning Round!

In this insightful episode, Tom Hendry, SVP and Treasurer at New York Life Insurance Company, shares how embracing diverse roles and challenges throughout his career helped him become a strategic finance leader. Discover how saying “yes” to opportunity, embracing turbulence, and building business acumen turned treasury from a cost center into a driver of value.Tom Hendry is the Senior Vice President and Treasurer at New York Life Insurance Company, one of the largest and most respected mutual life insurers in the U.S. With a career spanning over 30 years, Tom brings a wealth of experience across investment banking, consulting, asset liability management, and treasury leadership.Main topics discussed:Tom's career journey to date and current role leading treasury at New York Life.Lessons learned from economic downturns and working on commercial mortgage workouts.Navigating two careers at Prudential Financial, including leading pension risk transfer deals.Transitioning into mainstream treasury and evolving the function into a profit center.Managing relationships with banks, regulators, and rating agencies through trust and transparency.The transformation of treasury from back-office support to strategic partner.Embracing AI and technology as tools to enhance small treasury teams.Communicating effectively with stakeholders: boards, C-suite, and internal teams.Skills tomorrow's treasurers need: business acumen, adaptability, and partnership orientation.Career advice: own your path, stay curious, be solutions-oriented, and embrace every opportunity.You can connect with Tom Hendry on LinkedIn. ---

Host Sam Ewen breaks down the latest news in the crypto industry as Strategy buys more BTC.The overall crypto market remain stable with a slight uptrend under the looming threat of war in the mideast. Plus, Vietnam passes new crypto law and Strategy buys 10,100 more BTC. CoinDesk's Sam Ewen hosts “CoinDesk Daily.”-Ledn is the leading platform for Bitcoin-backed loans, offering a secure and transparent way to unlock liquidity without selling your Bitcoin. Ledn has issued over $9 billion in loans since 2018 and has never lost a single satoshi of client assets, earning a reputation as the name you can trust in the crypto space.Visit ledn.io to learn more. -This episode was hosted by Sam Ewen.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this episode, Craig Jeffery talks with Dave Robertson about how AI is being applied in treasury today. They cover key use cases, from forecasting and credit analysis to policy automation, and explore challenges like hallucinations and data privacy. What should treasurers be doing now to prepare for what's coming? Listen in to learn more. CashPath Advisors

This episode we are covering the end of the reign of Naka no Oe, aka Tenji Tennou.  We cover the events in the Chronicles, including the death of Nakatomi no Kamatari, the creation of the Fujiwara family, the destruction of Goguryeo, and the continued development of the Baekje refugees. For more, check out the podcast blog at: https://sengokudaimyo.com/podcast/episode-128 Rough Transcript Welcome to Sengoku Daimyo's Chronicles of Japan.  My name is Joshua and this is episode 128: Immigrants, Princes, and High Officials. There was a pall over the house, despite the visiting royal retinue creating something of a stir,.  While craftspeople were still hard at work repairing damage from the lightning strike only a few months earlier, that wasn't the reason for the low spirits.  Rather, the house was worried for their patriarch, the Naidaijin, Nakatomi no Kamatari.  He had fallen ill, and despite all the pleas to the kami and the Buddhas , it seemed the end might be near. And so even the sovereign himself had come.  Kamatari was not just a loyal official, but  a close friend of the sovereign, someone who had been there since the beginning.  And so we can imagine how Naka no Oe felt.  He may have been the sovereign of Yamato, but he was still a human being, visiting his friend of some 30 or so years, knowing that for all of the power that he held, there was nothing he could do against the ravages of time and disease.     The year is 668—Naka no Oe has moved the capital to Ohotsu, on the banks of Lake Biwa, and has formally assumed the throne. This episode we are going to cover the last several years of Naka no Oe's reign.  In contrast to last week's dive into Yamato science, this week is going to be a bit of a grab bag, looking at what was going on in Yamato and talking about what was recorded in the Chronicles. And for the most part, the entries for the rest of the year 668 are fairly normal, and yet there are some oddities… For instance, in the fourth month we are told that Baekje sent Mitosapu and others to offer tribute.  And any other time that would be just a normal thing.  Except that at this point in history, Baekje was about as going a concern as a parrot in a Monty Python sketch.  So if the Kingdom of Baekje was no longer a thing, who was it that was sending the tribute? Most likely it was the Baekje communities in exile living in the archipelago.  Remember how many of them had settled around Biwa and in 666, two thousand Baekje people were settled somewhere in the East.  These immigrants  were still being supported by the Yamato government, who were basically subsidizing their settlement for the first three years, during which time they would be expected to make it into a permanent settlement. Based on the way the Chronicles talk about it, these early Baekje communities sound like they were maintaining a kind of kingdom in exile.  With many immigrants from Baekje living together in proximity, they were likely keeping their own groups, with their own language and traditions, at least for now.  It would be interesting to know if there were specific Baekje settlements that have been identified through the archaeological record.   That said, we definitely see Baekje's mark on the archipelago: Physically, there are the Baekje style castles, and various temples following Baekje style layouts.  Of course there were also continental building styles, but some of that was shared across multiple cultures at this point, and one should consider how much Baekje influence might have been found in things that we later see as Japanese. Additionally, Baekje nobles were involved in the court, often given court rank based in part on their rank in Baekje, though it wasn't quite equivalent.  Still,  in time, some of the nobles would trace their lineages back to Baekje nobles and princes. Speaking of princes and Baekje, on the fifth day of the fifth month of 668 —a day that would come to be known as Ayame no hi, or Tango no Sekku, one of the major days of court ceremony—Naka no Oe went out hunting on the moor of Kamafu, known today as Gamou district, near Kanzaki, where 400 Baekje people had been settled.  He was out there with the Crown Prince, his younger brother, aka Prince Ohoama, and all the other princes and ministers.  A grand outing. A month later, however, tragedy struck.  One “Prince Ise” and his younger brother died on consecutive days.  While this was undoubtedly a blow to the court, the interesting thing for our purposes – which also highlights the challenge of interpreting the Chronicles is that we aren't exactly sure who this is referring to.  It's not the first time we've seen this title: we first see a “Prince Ise” show up around 650, during the presentation of the white pheasant that ushered in the Hakuho era, but we later see that that individual had passed away in 661.  We also see the name show up less than 20 years later in the Chronicles for another prince, so this can't be the same.  So this is clearly a position or title for a prince, but it isn't clear if it was passed down or inherited.   One possibility is that “Prince Ise” or “Prince of Ise” was a title for one of the royal sons. IAt this point in the narrative, Naka no Oe had three sons.  Prince Takeru had passed away at the age of 8, but he also had Prince Kawajima, Prince Shiki, and Prince Iga, aka Prince Ohotomo, all sons of “palace women”.  We know, though, that these princes show up later, so I don't think the so-called Prince Ise was one of them.  Perhaps another line?   The term “Prince” might also refer to something other than a royal son.  You see, English translators have often been somewhat cavalier with the way we tend to render titles.  The English term “Prince” has  been used for “Hiko”, “Miko”, or “Ou” (which was probably pronounced “Miko” in many of these cases).  And in English, we often think of “Prince” as the son of a king, but “Prince” can also be an independent ruler of a principality, or may just refer to a person with power in a monarchic state.  Even the term “king” is not unambiguous—early European accounts of Japan during the Warring States period often refer to the various daimyou as “kings”, given the often absolute dominion with which they apparently ruled their particular domains. At this time, the term “Miko”  (also pronounced “ouji”, or “koushi”, or even “sume-miko”) seems rather unambiguously to refer to a “royal prince”, from the lineage of the sovereign.  The term “Ou”, which also seems to be read as “Miko” in some cases, is also the term for “King” and probably more broadly fits the concept of a “prince” as a ruler.  However, in this case, it seems to be equal to the term “Miko”, and may have been used almost interchangeably for a time, though later it would be used to refer to members of princely rank who were not directly related to a reigning sovereign—the grandchildren and so forth of royal princes who did not go on to inherit. In this case, I think the best we can say for certain is that Prince Ise—or the Prince of Ise—was someone important enough to be included in the chronicles – but who he was, exactly, will remain a mystery for now. The following month, the 7th month, was chock full of activities.  First of all, Goguryeo sent envoys by way of Koshi—meaning they landed on the Japan Sea side, probably around Tsuruga.  While this may just have been closer, I suspect it meant they avoided any Tang entanglements traveling through the Bohai sea.  They did run into a spot of trouble, however, as the winds and waves prevented their return. Koshi also shows up as presenting some strange gifts to the court:  burning earth and burning water.  There is some thought that maybe this is something like coal or natural oil deposits. We are also told that in this month, Prince Kurikuma was appointed the governor of Tsukushi.  Kurikuma no Ou appears to have been the grandson—or possibly great-grandson—of the sovereign, Nunakura, aka Bidatsu Tennou.  The position Kurikuma was given was important, of course, overseeing the Dazai, which meant overseeing anyone traveling to the archipelago from the continent. This would be a relatively short-lived appointment—this time.  He would be re-appointed about three years later, which would prove important, as he would be governor there during some particularly momentous events.    Stories appear to have continued about him in the Nagasaki region, and various families traced their lineage back to him. Also in that month, we are told that Afumi, home of the new capital, practiced military exercises—likely in preparation in case of a future Tang or Silla invasion.  Recall we discussed in Episode 126 how the choice of Afumi as a capital site might have been related to its defensibility in the event of such an invasion. At the same time, the court entertained Emishi envoys, and the toneri, by royal command, held banquets in various places. There is also mention of a shore-pavillion, presumably at Lake Biwa, where fish of various kinds came, covering the water.  Interestingly enough, there is another story of a “shore pavilion”, likely the same one, in the Fujiwara Family Record, the Toushi Kaden.  We are told that Prince Ohoama – Naka no Oe's younger brother spiked a large spear through a plank of wood in some kind of feat of strength.  This apparently shocked Naka no Oe, who saw it aa  kind of threat—perhaps seeing that his five-years younger brother was still hale and healthy.  Granted, Naka no Oe was only in his 40s, but his brother Ohoama was in his later 30s.  We are also told that at this time, in 668, Naka no Oe was apparently not doing so well, with people wondering if he would be with them much longer. The Toshi Kaden account seems rather surprising in that it claims Naka no Oe was so shocked by this proof of his brother's vitality that he wanted to have him put to death, suggesting to me that he felt that Ohoama might be a threat to him and his rule.  Ultimately, though, he was talked out of this by his old friend, Nakatomi no Kamatari – the one whom he had plotted with to overthrow the Soga, and whose relationship was initiated by an interaction on the kemari field, as we discussed in Episode 106. Speaking of whom: Nakatomi no Kamatari was still Naijin, the Inner or Interior Minister, and so  quite prominent in the administration. In the 9th month, as a Silla envoy was visiting the court, Kamatari sent Buddhist priests Hoben and Shinpitsu to present a ship to the Prime Minister of Silla, which was given to the Silla envoy and his companions, and three days later, Fuse no Omi no Mimimaro was sent with a ship meant for the King of Silla as well. This incident is also recounted in the Toshi Kaden.  In this case it says that the people, hearing about the gifts to Silla, were quite upset.  After all, it stands to reason:  Yamato was still smarting from their defeat at the hands of Tang and Silla forces, and building up defenses in case of an attack.  They'd also taken in a number of Baekje nobles and families, who may have also had some influence on the court.  We are told that Kamatari himself excused all of this by stating that “All under heaven must be the sovereign's land.  The guests within its borders must be the sovereign's servants.”  In this case, all under heaven, or “Tenka”, is a common phrase used to describe a monarch's sovereignty over everything in the land.  And so, while Silla envoys were in Yamato as guests, they also fell under similar rules, and as such were considered, at least by Yamato, as the sovereign's servants and thus worthy of gifts. The Silla envoys stayed for over a month.  They finally departed by the 11th month of 668, carrying even more gifts, including silk and leather for the King and various private gifts for the ambassadors themselves.  The court even sent Chimori no Omi no Maro and Kishi no Woshibi back with the envoy as Yamato envoys to the Silla court. This all tells us that just as the Tang were working to woo Yamato, Silla was likely doing so as well.  And while Yamato might still begrudge the destruction of Baekje, they also had to face the political reality that Baekje was probably not going to be reinstated again—especially not while the Tang government was occupying the peninsula. So making nice with both Tang and Silla was prudent. Furthermore, though they had been visited by Goguryeo envoys earlier that year, Yamato may have had some inkling that Goguryeo was not in the most powerful position.  Ever since the death of Yeon Gaesomun, the Goguryeo court had been involved in infighting—as well as fighting their external enemies.  One of Gaesomun's sons had been exiled and had gone over to the Tang, no doubt providing intelligence as well as some amount of legitimacy.  What they may not have known was that as Yamato was hosting the Silla envoys, a new assault by the Tang-Silla alliance was advancing on Pyongyang and setting siege to the city.  The Nihon Shoki records that in the 10th month of 668 Duke Ying, the Tang commander-in-chief, destroyed Goguryeo. This would dramatically change the international political landscape.  Tang and Silla had been triumphant—Yamato's allies on the peninsula had been defeated, and what we know as the “Three Kingdoms” period of the Korean peninsula was over.  However, the situation was still fluid.  The peninsula was not unified by any sense of the imagination.  The Tang empire had their strategic positions from which they controlled parts of the peninsula and from which they had been supplying the war effort against Goguryeo.  They also likely had to occupy areas to ensure that nobody rose up and tried to reconstitute the defeated kingdoms.  In fact, there would be continued attempts to revive Goguryeo, as might be indicated in the name we use: by the 5th century, the country was actually using the name “Goryeo”, a shortened form of “Goguryeo”, but we continue to refer to it as “Goguryeo” to distinguish it from the country of the same name that would be established in 918, laying claim to that ancient Goguryeo identity. A bit of spoilers, but “Goryeo” is where we would eventually get the name that we know the region by, today:  “Korea”.  In the Nihon Shoki it is referred to as “Gaori”. But none of that could have been known at the time.  Instead, there was no doubt some exuberance on the side of both Silla and Tang, but that would settle into something of unease.  With Baekje and Goguryeo destroyed, Silla may have thought that Tang would leave, allowing them to solidify their hold and manage those territories as an ally.  If this is what they thought, though, I'm not sure they had run it by the Tang empire just yet. In the Yamato court, there appear to have been separate factions: a pro-Tang faction, and also a pro-Silla faction.  We have to assume, based on the actions in the record at this time, that this was a ongoing debate. The last thing I'll note for the year 668 is attempted theft.  The Buddhist priest Dougyou stole Kusanagi, the famous sword forming part of the imperial regalia, and escaped with it.  Kusanagi, you may recall, was the royal sword.  It was named “Kusanagi” or “grass cutter” because it is said that when Prince Yamato Takeru was subduing the eastern lands, he was surrounded in a field that had been set on fire, and he used Kusanagi to create a firebreak by cutting down all of the grass around him.  The sword was given to him by Yamato Hime, the Ise Princess at the time, and it was thought to have been first found by the god Susanowo inside of the legendary Yamata no Orochi.  We talked about this in Episodes 16, 34, and 35.  Yamato Takeru left the sword in Owari, and it would eventually live there, at Atsuta Jingu, Atsuta Shrine, its traditional home. It isn't clear if Dougyou obtained the sword from Owari or if it was being kept in the capital at the time.  It would have likely been brought out for Naka no Oe's coronation, but then it would probably have been returned to the shrine that was holding it. Dougyou tried to head to Silla with his illicit goods, but wind and rain forced him to turn back around.  This is a fascinating story and there's a lot to dive into here. So first off, let's point out that this is supposed to be a Buddhist priest.  What the heck was going on that he was going to try to run a heist on what are essentially the Crown Jewels of the Yamato crown?  While the sword, mirror, and jewel were still somewhat questionable as the sole three regalia, they were clearly important.  We aren't given Dougyou's motives.  We don't know enough about him.  Was he anti-Yamato or anti-Naka no Oe?  Was he actually a Buddhist priest of his own accord, or was he a priest because he was one of those who had been essentially conscripted into religious orders on behalf of some powerful noble?  Was he a Buddhist who wanted to attack the hold of the kami? Was he pro-Silla, or perhaps even a Silla descendant, trying to help Silla? Or was he just a thief who saw the sword, Kusanagi, as a valuable artifact that could be pawned outside of Yamato? That last possibility feels off.  While we aren't exactly sure what Kusanagi looked like, based on everything we know, the sword itself wasn't necessarily blinged out in a way that would make it particularly notable on the continent.    And if Dougyou and whoever his co-conspirators were just wanted to attack the Yamato government, why didn't he just dump Kusanagi in the see somewhere?  He could have destroyed it or otherwise gotten rid of it in a way that would have embarrassed the government. It seems mostly likely that this theft had something to do with pro-Silla sentiment, as if Silla suddenly showed up with the sword, I imagine that would have been some diplomatic leverage on the Yamato court, as they could have held it hostage.  In any case, the plan ultimately failed, though the Chronicles claim it was only because the winds were against him—which was likely seen as the kami themselves defending Yamato. On to a new year.  At the start of 669, Prince Kurikuma (who we mentioned above) was recalled to the capital and Soga no Akaye was appointed governor of Tsukushi. We mentioned Akaye a couple of episodes back.  He was involved in the broken arm-rest incident, where Prince Arima was plotting against Takara Hime, aka Saimei Tennou, and Akaye's daughter Hitachi no Iratsume, was one of the formal wives of Naka no Oe, who would give birth to the princess Yamabe. Now Akaye was given the position of governor of Tsukushi. This position is an interesting one throughout Japanese history.  In many ways it is a viceroy—the governor of Tsukushi has to effectively speak with the voice of the sovereign as the person responsible for overseeing any traffic to and from the continent.  This also was likely a highly lucrative position, only handed out to trusted individuals. However, it also meant that you were outside of the politics of the court.  Early on that was probably less of a concern.  At this time, court nobles were likely still concerned with their traditional lands, which created their economic base, meaning that the court may have been the political center, but there was still plenty of ways to gain power in the archipelago and it wasn't solely through the court.  Over time, as more and more power accrued to the central court government, that would change.  Going out to manage a government outpost on the far end of the archipelago—let alone just going back to manage one's own estates—would be tantamount to exile.  But for now, without a permanent city built up around the palace, I suspect that being away from the action in the capital wasn't quite as detrimental compared to the lucrative nature of a powerful position.  Later, we will see how that flips on its head, especially with the construction of capitals on the model of those like Chang'an. For now, new governor Soga no Akaye was likely making the most of his position.  On that note, in the third month of 669, Tamna sent their prince Kumaki with envoys and tribute.  They would have come through Tsukushi, and Soga no Akaye likely enjoyed some benefits as they were entertained while waiting for permission to travel the rest of the way down to the Yamato capital.  The Tamna embassy did not exactly linger at the court.  They arrived on the 11th of the 3rd month, and left one week—seven days—later, on the 18th.  Still, they left with a gift of seed-grain made to the King of Tamna. On their way out, they likely would have again stopped in at Tsukushi for provisions and to ensure that all of their business was truly concluded before departing. A couple of months later, on the 5th day of the 5th month, we see another hunting party by Naka no Oe.  This seems to have been part of the court ritual of the time for this ceremonial day.  This time it was on the plain of Yamashina.  It was attended by his younger brother, Crown Prince Ohoama, as well as someone called “Fujiwara no Naidaijin” and all of the ministers. “Fujiwara no Naidaijin” is no doubt Nakatomi no Kamatari.  This is an interesting slip by the Chroniclers, and I wonder if it gives us some insight into the source this record came from.  Kamatari was still known as Nakatomi at the time, and was still the Naidaijin, so it is clear they were talking about him.  But historically his greatest reputation is as the father of the Fujiwara family, something we will get to in time.  That said, a lot of the records in this period refer to him as “Fujiwara”.  We've seen this previously—because the records were being written later they were often using a more common name for an individual, rather than the name—including title—that the individual actually would have borne at the time of the record.  This really isn't that different from the way we often talk about the sovereigns using their posthumous names.   Naka no Oe would not have been known as “Tenji Tennou” during his reign.  That wouldn't be used until much later.  And yet, many history books will, understandably, just use the name “Tenji” because it makes it clear who is being talked about. This hunting trip is not the only time we see the name “Fujiwara” creep into the Chronicles a little earlier than accurate: we are told that only a little later, the house of “Fujiwara” no Kamatari was struck by lightning.  But that wasn't the only tragedy waiting in the wings.  Apparently, Kamatari was not doing so well, and on the 10th day of the 10th month, his friend and sovereign, Naka no Oe, showed up to pay his respects and see how he was doing. Ever since that fateful game of kemari—Japanese kickball—the two had been fast friends.  Together they envisioned a new state.  They overthrew the Soga, and changed the way that Japan even conceived of the state, basing their new vision off continental ideas of statehood, governance, and sovereignty.  Now, Kamatari was gravely ill. What happens next is likely of questionable veracity Sinceit is unlikely that someone was there writing down the exact words that were exchanged, but the Chronicles record a conversation between the sovereign and his ill friend.  And the words that the Chroniclers put in their mouths were more about the image that they wanted to project.  According to them, Naka no Oe praised his friend, and asked if there was anything that he could do. Kamatari supposedly eschewed anything special for burial arrangements.  He supposedly said “While alive I did no service for my country at war; why, then, should I impose a heavy burden on it when I am dead?”  Hard to know if he actually felt like that or not, or if thr Chroniclers were likening him to  Feng Yi of the Han dynasty, the General of the Great Tree.  He was so-called because he would often find a tree to take time to himself.  He likewise was renowned for his dislike of ostentation, much like Kamatari foregoing a fancy burial mound. Five days later, Naka no Oe sent Crown Prince Ohoama to Kamatari's house to confer on him the cap of Dai-shiki, and the rank of Oho-omi.  They also conferred on him and his family a new surname:  Fujiwara, and so he became Fujiwara no Daijin, the Fujiwara Great Minister.  The next day he died.  One source known as the Nihon Seiki, said that he was 50 years old, but according to the Chronicles there was an inscription on his tomb that stated he died at age 55. Three days later, we are told that Naka no Oe went to the house of the now late Fujiwara no Naidaijin, and gave orders to Soga no Akaye no Omi, declaring to him his gracious will and bestowing on him a golden incense-burner.  This is somewhat odd, because as we were just talking about, Soga no Akaye had been appointed governor of Tsukushi, though the Toshi Kaden claims that it was actually Soga no Toneri who was in Tsukushi—but these could also mean the same people.  Why this happened right after Kamatari's death suggests to me that Soga no Akaye may have had something to do with the arrangements for Kamatari's funeral or something similar. Let's talk about this whole incident.  There are many that think the Nihon Shoki has things a bit out of order, and on purpose.  Specifically, it is quite likely that the name “Fujiwara” was actually granted after Kamatari's death, and not on the day of, as it has here.  He may even have been posthumously elevated.  But since the Fujiwara family would go on to be quite powerful, the order of events and how they were recorded would have been very important in the 8th century. By naming Kamatari's line the Fujiwara, the court were effectively severing it from the rest of the Nakatomi.  The Nakatomi family would continue to serve as court ritualists, but the Fujiwara family would go on to much bigger and better things.  This change also likely meant that any inheritance of Kamatari's would go to his direct descendants, and that a brother or cousin couldn't necessarily just take over as the head of the household.  So it's very possible that this “setting apart” of the Fujiwara family immediately upon Kamatari's death is a later fiction, encouraged by the rising Fujiwara themselves, in an attempt to keep others from hanging on to their coat tails, as it were. Also a quick note about the idea that there was an inscription on Kamatari's tomb.  This is remarkable because so far, we have not actually found any such markers or tombstones on burials prior to this period.  We assume that they would have been stone or wood markers that were put up by a mound to let you know something about the person who was buried there.  Over time, most of these likely wore away.  But it is interesting to think that the practice may have had older roots. The death of Kamatari wasn't the only tragedy that year.  We are also told that in the 12th month there was a fire in the Treasury, and that the temple of Ikaruga—known to us as Houryuuji, the temple built by Shotoku Taishi—also was burnt.  It isn't said how bad, but only three months later, in 670, another fire struck during a thunderstorm, and we are told that everything burned down—nothing was left. That said, it seems that they may have been able to reuse some of the materials.  I say this because an analysis of the main pillar of the pagoda in the western compound suggests that the tree it came from was felled in 594. The rest of 699 included some less dramatic events. For instance, in the 8th month, Naka no Oe climbed to the top of Takayasu, where he took advice as to how to repair the castle there.  The castle had been built only a couple of years earlier, but already needed repairs.  However, the initial repair project had been abandoned because the labor costs were too much.  The repairs were still needed, though, and they carried out the work four months later in the 12th month, and again in the 2nd month of the following year, and that stores of grain and salt were collected, presumably to stock the castle in case they had to withstand a siege. I suspect that the “cost” of repairing the castle was mostly that it was the 8th month, and the laborers for the work would have to be taken away from the fields.  By the 12th month, I can only assume that those same laborers would be free from their other duties. Speaking of costs, sometimes the Chronicles really make you wonder what was going through the mind of the writers, because they noted that the Land-tax of the Home Provinces was collected.  Maybe this was the first time it had actually been instituted?  I don't know.  It just seems an odd thing to call out. There was also 700 more men from Baekje removed and settled in Kamafu—Gamou District—in Afumi.  And then there was a Silla embassy in the 9th month, and at some point in the year Kawachi no Atahe no Kujira and others were sent to the Tang court.  In response, an embassy from the Tang to Yamato brought 2000 people with them, headed by Guo Wucong, who I really hope was getting some kind of premiere cruiser status for all of his trips. The following year, 700, started out with a great archery meeting, arranged within the palace gate.  I presume this to mean that they had a contest.  Archery at this time—and even for years to come—was prized more highly than even swordplay.  After all, archery was used both in war and on the hunt.  It is something that even the sage Confucius suggested that people should practice.  It is also helpful that they could always shoot at targets as a form of competition and entertainment. Later, on the 14th day of the 1st month, Naka no Oe promulgated new Court ceremonial regulations, and new laws about people giving way on the roads.  This rule was that those of lower status should get out of the way of those of higher status.  Funnily enough, in the description of Queen Himiko's “Yamateg”, back in the 3rd century, this was also called out as a feature of the country.  It is possible that he was codifying a local tradition, or that the tradition actually goes back to the continent, and that the Wei Chroniclers were projecting such a rule onto the archipelago.  I'm honestly not sure which is which.  Or perhaps they expanded the rules and traditions already in place.  There were also new laws about prohibiting “heedless slanders and foul falsehoods”, which sounds great, but doesn't give you a lot to go on. The law and order theme continues in the following month.  A census was taken and robbers and vagabonds were suppressed.  Naka no Oe also visited Kamafu, where he had settled a large number of the Baekje people, and inspected a site for a possible future palace.  He also had castles built in Nagato in Tsukushi, along the route of any possible invasion from the Korean peninsula. In the third month, we have evidence of the continued importance of kami worship, when they laid out places of worship close to Miwi mountain and distributed offerings of cloth.  Nakatomi no Kane no Muraji pronounced the litany.  Note that it is Nakatomi no Muraji—as we mentioned, the Nakatomi would continue to be responsible for ceremonial litany while the Imibe, or Imbe, family would be responsible for laying out the various offerings. Miwi would seem to be the same location as Miidera, aka Onjou-ji, but Miidera wouldn't be founded for another couple of years. In the 9th month of 670, Adzumi no Tsuratari, an accomplished ambassador by this point, travelled to Silla. Tsuratari had been going on missions during the reign of Takara Hime, both to Baekje and to the lands across the “Western Seas”.  While we don't exactly know what transpired, details like this can help us try to piece together something of the relative importance of the mission. In the last entry for 670, we are told that water-mills were made to smelt iron.  If you are wondering how that works, it may have been that the waterwheel powered trip hammers—it would cause the hammer to raise up until it reached a point where it would fall.  Not quite the equivalent of a modern power hammer, it still meant that fewer people were needed for the process, and they didn't have to stop just because their arms got tired. The following year, 671, got off to a grand start, with a lot of momentous events mentioned in just the first month of the year. First off, on the 2nd day of the first month, Soga no Akaye – now back from his stint as governor of Tsukushi - and Kose no Hito advanced in front of the palace and offered their congratulations on the new year.  Three days later, on the 5th day, Nakatomi no Kane, who had provided the litany at Miwi, made an announcement on kami matters.    Then the court made official appointments.  Soga no Akaye was made the Sadaijin, or Prime Minister of the Left, and Nakatomi no Kane was made Prime Minister of the Right.  Soga no Hatayasu, Kose no Hito, and Ki no Ushi were all made daibu, or high ministers.  On top of this, Naka no Ohoe's son, Prince Ohotomo, was appointed as Dajodaijin. “Dajodaijin” is a new position that we haven't seen yet, and it is one of those positions that would only show up on occasion.  It is effectively a *Prime* Prime Minister.  They were considered superior to both the ministers of the left and the right, but didn't exactly have a particular portfolio.  The Ministers of the Left and the Right each had ministries under them that they were responsible for managing.  Those ministries made up the Daijo-kan, or the Council of State.  The Dajodaijin, or Daijodaijin, was basically the pre-eminent position overseeing the Council of State.  I suspect that the Dajodaijin seems to have been the evolution of the Naidaijin, but on steroids.  Nakatomi no Kamatari had administered things as Naidaijin from within the royal household, but the Dajodaijin was explicitly at the head of the State.  Of course, Prince Ohotomo was the son of Naka no Oe himself, and the fact that he was only 23 years old and now put in a place of prominence over other ministers who were quite likely his senior, is remarkable.  I wonder how much he actually was expected to do, and how much it was largely a ceremonial position, but it nonetheless placed Ohotomo just below his uncle, Crown Prince Ohoama, in the overall power structure of the court. Speaking of which, following the new appointments, on the 6th day of the year, Crown Prince Ohoama promulgated regulations on the behalf of his brother, Naka no Oe.  There was also a general amnesty declared, and the ceremonial and names of the cap-ranks were described in what the Chronicles calls the Shin-ritsu-ryo, the New Laws. Towards the end of the first month, there were two embassies, both from now-defunct kingdoms.  The first was from Goguryeo, who reportedly sent someone named Karu and others with Tribute on the 9th day, and 4 days later, Liu Jenyuan, the Tang general for Baekje sent Li Shouchen and others to present a memorial.  I'm not sure if the Goguryeo envoys were from a government in exile or from a subjugated kingdom under Tang and Silla domination.  The Tang general in Baekje was a little more transparent.  That said, that same month we are told that more than 50 Baekje nobles were given Yamato court rank, perhaps indicating that they were being incorporated more into the Yamato court and, eventually, society as a whole.  That said, the remains of the Baekje court sent Degu Yongsyeon and others with tribute the following month. This is also the year that Naka no Oe is said to have placed the clepsydra or water clock in a new pavilion.  We talked about this significance of this last episode.  We are also told that on the third day of the third month, Kibumi no Honjitsu presented a “water level”, a Mizu-hakari.  This would seem to be what it sounds like:  A way of making sure that a surface is level using water.  There is also mention of the province of Hitachi presenting as “tribute” Nakatomibe no Wakako.  He was only 16 years old, and yet we are told he was only one and a half feet in height—one shaku six sun, more appropriately.  Assuming modern conversions, that would have put him approximately the same height as Chandra Dangi of Nepal, who passed away in 2015 but who held the Guiness World Record for the world's shortest person at 21.5”—or 54 centimeters.  So it isn't impossible. The fact that he is called “Nakatomibe” suggests that he was part of the family, or -Be group, that served the Nakatomi court ritualists.  Unfortunately, he was probably seen more as an oddity than anything else at the time.  Still, how many people from that time are not remembered at all, in any extant record?  And yet we have his name, which is more than most. In the following month, we are also told that Tsukushi reported a deer that had been born with eight legs.  Unfortunately, the poor thing died immediately, which is unfortunately too often the case. And then the fifth day of the fifth month rolled around again. This year there was no hunting, but instead Naka no Oe occupied the “Little Western Palace” and the Crown Prince and all of the ministers attended him.  We are told that two “rustic” dances were performed—presumably meaning dances of some local culture, rather than those conforming to the art standards passed down from the continent.  As noted earlier, this day would be one of the primary ceremony days of the later court. The following month, we are told that there was an announcement in regards to military measures requested by the messengers from the three departments of Baekje, and later the Baekje nobles sent Ye Chincha and others to bring tribute.  Once again, what exactly this means isn't clear, but it is interesting to note that there were three “departments” of Baekje.  It is unclear if this was considered part of the court, or if this was Baekje court in exile managing their own affairs as a guest in Yamato. It is also interesting that they seem to have been traveling to the Yamato court while Li Shouchen was still there, sent by the Tang general overseeing Baekje.  That must have been a bit of an awkward meeting.  We are told that they all took their departure together on the 11th day of the 7th month.  Does that mean they left with the Tang envoy?  Was the Tang inviting some of them to come back?  Or just that they all left the court at the same time. The same month, Prince Kurikuma was once more made Governor of Tsukushi—or possibly made governor the first time, depending on whether or not you think the Chronicles are accurate or that they pulled the same event twice from different sources.  We are also told that Silla sent envoys with gifts that included a water buffalo and a copper pheasant for the sovereign. The 8th month of the year, we hear that Karu of Goguryeo and his people took their leave after a seven month long visit.  The court also entertained the Emishi.  Two months later, Silla sent Kim Manmol and others with more tribute, but this envoy likely found a different feeling at court. And that is because on the 18th day of the 8th month, the sovereign of Yamato, Naka no Oe, took to his bed, ill.  There was a ceremony to open the eyes of 100 Buddhas in the interior of the palace, and Naka no Oe sent messengers to offer to the giant Buddha of Houkouji a kesa, a golden begging-bowl, an ivory tusk, aloeswood, sandalwood, and various objects of value, but despite any spiritual merit that may have accrued, it didn't seem to work.  Naka no Oe's illness continued to grow more serious.  He would continue to struggle for another two months, until, on the 3rd day of the twelfth month, Naka no Oe, aka Tenji Tennou, sovereign of Yamato, passed away. For all that we should be careful to avoid the “Great Man” theory of history, it is nonetheless hard to deny that Naka no Oe had an incredible impact on the country in his days.  From start to finish, while one could argue that many of the reforms were simply a matter of time as the archipelago absorbed more and more ideas from across the straits, Naka no Oe found himself in the middle of those reforms.  The Yamato State would never be the same, and he oversaw the birth of the Ritsuryo state, a new state nominally based on laws and rules, rather than just tradition.  It may not be entirely clear, but he also helped inculcate a new sense of the power of the sovereign and of the state, introducing new cultural imaginaries.  Yamato's reach wasn't just vague boasting, but by instituting the bureaucratic state they were able to actually expand the reach of the court farther than any time before. And through those changes, Naka no Oe had, in one way or another, been standing at the tiller.  Now, he was gone, as were many of his co-conspirators in this national project.  Which leaves us wondering:  What comes next? Well, we'll get to that, but not right now.  For now, let us close this episode with Naka no Oe's own end.   Next episode, we can get into the power struggles that followed, culuminating in an incident known as the Jinshin no Ran:  The Jinshin war. Until then, thank you once again for listening and for all of your support. If you like what we are doing, please tell your friends and feel free to rate us wherever you listen to podcasts.  If you feel the need to do more, and want to help us keep this going, we have information about how you can donate on Patreon or through our KoFi site, ko-fi.com/sengokudaimyo, or find the links over at our main website,  SengokuDaimyo.com/Podcast, where we will have some more discussion on topics from this episode. Also, feel free to reach out to our Sengoku Daimyo Facebook page.  You can also email us at the.sengoku.daimyo@gmail.com.  Thank you, also, to Ellen for their work editing the podcast. And that's all for now.  Thank you again, and I'll see you next episode on Sengoku Daimyo's Chronicles of Japan.  

J.P. Morgan's Jay Barry, Teresa Ho, Ipek Ozil, and Phoebe White discuss the outlook for the US rates market in the second half of 2025, discussing Treasury yields, swap spreads, TIPS, and the short-term fixed income markets.     Speakers Jay Barry, Head of Global Rates Strategy Teresa Ho, Head of US Short Duration Strategy   Ipek Ozil, Head of US Interest Rate Derivatives Strategy   Phoebe White, Head of US Inflation Strategy This podcast was recorded on June 16, 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5008078-0 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.

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In this episode, Cole Smead sits down with independent scholar and writer Jill Eicher to discuss her book, “Mellon vs. Churchill: The Untold Story of Treasury Titans at War.” Their conversation explores the never-before-told story of heated debates between Andrew Mellon and Winston Churchill over post-WWI debts. Eicher and Smead discuss how each side of the dispute crafted narratives to shape public opinion, their differences in leadership philosophy, and more.

What are plenary indulgences? How does one gain a plenary indulgence? Fr. Chris Alar, MIC, discusses these “extra credit” of graces and the requirements that will help us gain the graces from the “Treasury of the Church.”Become a Marian Helper!Discover more about the Catholic faith on Divine Mercy Plus! 

On Nick Ferrari at Breakfast.Treasury minister is unable to answer basic questions on £10bn Thames crossingAnd Keir Starmer joins crisis talks to stop full-scale war between Iran and IsraelAll of this and more on Nick Ferrari: The Whole Show Podcast.

Could a weekly grilling like Prime Minister's Questions fix US politics? In the wake of Original Sin - Jake Tapper and Alex Thompson's damning account of Joe Biden's final days in office - Ed Balls and George Osborne ask whether a PMQs-style showdown could bring more accountability to American democracy. And are there any American political customs they'd import to the UK in return?The pair then flick open their ministerial boxes: what's it like to carry one, what can one find inside and why has it never been replaced in the digital age for something more user-friendly? A red tablet perhaps? Speaking of opening up, George responds to Michael Gove's ex-wife Sarah Vine's claims in her recent memoir “How not to be a Political Wife” - did he really tell her to borrow some money from her father when she was in a financial bind?Plus - Giles Winn, Special Advisor to the Treasury under Philip Hammond, asks about soft diplomacy in an era of ramped-up military spending. With UCL, he just released a report, The Soft Power impact of The BBC World Service' - and he wants Ed and George to weigh in. And Christine Farquharson from the Institute for Fiscal Studies asks about the politics of the rise of Sure Start, which she recently evaluated alongside co-authors in this report.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

Blake & Stephan discusses the emerging concept of Bitcoin treasury companies, their role in the debt market, and the potential benefits and risks associated with them. He emphasizes the proactive approach these companies take to bring capital into Bitcoin, the importance of understanding the mechanics behind their operations, and the sustainability of their net asset value (MNAV). The discussion also touches on investment strategies, personal perspectives on risk, and the future of Bitcoin treasury companies in the evolving financial landscape.Takeaways

Bitcoin just crossed $100,000, and you're probably thinking: “I missed it.” And you wouldn't be alone. That's how most people feel. They heard about it at $1,000… were told it was a scam at $10,000… waited for a pullback at $30,000… and now that it's over six figures, they've mentally closed the door on the opportunity. It's human nature to assume that if you're not early, you're too late. But that's not how this works—not with Bitcoin. In fact, this might actually be the best risk-adjusted time in Bitcoin's history to buy. I know that sounds counterintuitive, but it's true—and the data backs it up. Let's talk supply and demand. Since the halving in April, Bitcoin's issuance has dropped to just 3.125 BTC every 10 minutes. That's about 450 new coins per day, or just over 3,100 per week. Meanwhile, U.S. spot Bitcoin ETFs alone are buying more than 30,000 BTC a week—ten times what's being mined. And that's just the activity we know about from public filings. It doesn't include over-the-counter purchases from sovereign wealth funds, corporate treasuries, family offices, or high-net-worth individuals quietly accumulating behind the scenes. So where's the extra Bitcoin coming from? It's coming from long-time holders—early adopters who've sat on their coins for a decade or more and are only willing to part with them at much higher prices. This isn't hype-driven retail mania like in the past. It's a slow, deliberate transfer of supply from the original believers to large institutions. And here's the key: those institutions don't trade. They hold. Often for years—if not indefinitely—as part of their long-term strategic allocation. You are witnessing Bitcoin being monetized in real time.It's not speculation anymore. BlackRock's IBIT already has over $20 billion under management. Fidelity's FBTC is acquiring thousands of coins per week. El Salvador and Bhutan are actively accumulating. Even the U.S. government holds over 210,000 BTC from seizures—and here's what no one's talking about: they're not auctioning it off like foreclosed houses or impounded cars. They're holding it. The price isn't rising because of FOMO. It's rising because it now takes higher and higher prices to pry loose coins from the hands of holders who have no urgency to sell. Those coins are disappearing into cold storage, long-term trusts, and sovereign wallets—and they aren't coming back. This is what a supply shock looks like when the buyers have deep pockets and decade-long time horizons. And yet, the most dramatic shift in Bitcoin isn't even the price—it's the risk profile. Five years ago, Bitcoin was still speculative. Custody was clunky. Regulation was unclear. Access was limited. Today, institutions can buy it through BlackRock. Fidelity and Coinbase Prime offer secure custody. Legal frameworks and compliance protocols are firmly in place. Sure, volatility still exists—but existential risk? That's largely off the table. Bitcoin is no longer a “maybe.” It's a “when.” And that's why the opportunity still exists.Not because people are afraid to lose money, but because they still don't quite believe they're allowed to be this early to something this massive. The truth is, you didn't miss the train. You missed the garage-band phase. But now? You're standing right as Bitcoin steps onto the global stage—surrounded by the biggest asset managers in the world, all scrambling to buy up what little supply is left. The demand is relentless. The supply is fixed. The equilibrium price is rising. I truly believe we'll see a 10X in Bitcoin over the next five years. And if you still feel like you're playing catch-up, you're not out of options. There are ways to amplify your exposure—like Bitcoin treasury companies. MicroStrategy now holds over 214,000 BTC and has effectively become a leveraged Bitcoin vehicle traded on the stock market. In past cycles, it's outperformed Bitcoin itself. Metaplanet in Japan is following the same blueprint,...

On WSJ's Take On the Week, co-hosts Telis Demos and Gunjan Banerji start the show by explaining how financial trading platform Robinhood's stock may tell investors what they need to know about the markets right now. They discuss how company's CEO, Vlad Tenev, recently visited the White House to discuss “MAGA Accounts,” President Trump's proposal for a new tax-preferred savings account for children. Plus, with the Federal Reserve's next interest-rate decision coming this week, the hosts share how tariffs may play a role in the question of when to cut rates.  Later on the show, Meghan Swiber, senior U.S. rates strategist at Bank of America's investment banking arm BofA Securities, shares the latest happenings with the world's largest bond market, the U.S. Treasury. Long-term Treasury bond yields have risen in recent months, raising concerns that U.S. or international investors are backing away from assets that are usually considered risk-free. She explains what's going on, and how investors should think about volatility in what usually feels like a placid part of the market. This is WSJ's Take On the Week where co-hosts Gunjan Banerji, lead writer for Live Markets, and Telis Demos, Heard on the Street's banking and money columnist, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead. Have an idea for a future guest or episode? How can we better help you take on the week? We'd love to hear from you. Email the show at takeontheweek@wsj.com.  To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com.  Further Reading   ‘MAGA Accounts': What to Know About the $1,000 Child Savings Pitch in the Tax Bill  The Case for Rate Cuts Is Growing  For more coverage of the markets and your investments, head to WSJ.com, WSJ's Heard on The Street Column, and WSJ's Live Markets blog. Sign up for the WSJ's free Markets A.M. newsletter.  Learn more about your ad choices. Visit megaphone.fm/adchoices

The Spectator's economics editor Michael Simmons is joined by the outgoing boss of the Institute for Fiscal Studies Paul Johnson and the CEO of the Resolution Foundation Ruth Curtice to understand why Britain's economy is in such a bad place. Given it feels like we are often in a doom loop of discussion about tax rises, does this point to a structural problem with the British economy? And why are the public's expectations so out of line with the state's capabilities?Michael, Paul and Ruth talk about whether it's fair for Labour to claim they've been ending austerity, the extent to which the effects of the covid-19 pandemic are still being felt and if tax rises are inevitable. Plus – if Ruth and Paul had the opportunity to be an economic Treasury dictator, what one policy would they enact to make a big change?Produced by Patrick Gibbons. Hosted on Acast. See acast.com/privacy for more information.

In this second episode of our Witches, Cunning Folk & Magic theme, I'm talking to Willow Winsham, an author and historian specialising in folklore, and the history of the English witch trials. Her books include the highly popular Treasury of Folklore series from Batsford Books, and Accused: British Witches Throughout History from Pen and Sword Books. Her passion for uncovering fascinating topics and dedication to impeccable research guarantees an accessible and engaging read, whatever the subject. Willow is also co-founder of #FolkloreThursday, the popular website and social media phenomenon dedicated to sharing folklore, fairytales and traditions from across the globe. When not writing, Willow spends her time crocheting, delving into family history research, and indulging an ever-growing board game habit. She lives in Derbyshire with her three children and two British Shorthair cats. In this chat, we talk about how witches appear in history, why there is such an ongoing fascination with the witch, and Helen Duncan, the last woman tried under the 1735 Witchcraft Act! Order The Story of Witches: Folklore, History and Superstition: https://uk.bookshop.org/a/12992/9781849949064 Find Willow on BlueSky: https://bsky.app/profile/willowwinsham.bsky.social Get your free guide to home protection the folklore way here: https://www.icysedgwick.com/fab-folklore/ Become a member of the Fabulous Folklore Family for bonus episodes and articles at https://patreon.com/bePatron?u=2380595 Buy Icy a coffee or sign up for bonus episodes at: https://ko-fi.com/icysedgwick Fabulous Folklore Bookshop: https://uk.bookshop.org/shop/fabulous_folklore Pre-recorded illustrated talks: https://ko-fi.com/icysedgwick/shop Request an episode: https://forms.gle/gqG7xQNLfbMg1mDv7 Get extra snippets of folklore on Instagram at https://instagram.com/icysedgwick Find Icy on BlueSky: https://bsky.app/profile/icysedgwick.bsky.social 'Like' Fabulous Folklore on Facebook: https://www.facebook.com/fabulousfolklore/

Crypto News: The WSJ is reporting that Amazon and Walmart are looking to launch their own stablecoins. Stablecoin bill could get passed on Tuesday. Trident Digital aims to raise $500 million to create a corporate treasury focused on XRP. Cardano's Charles Hoskinson proposed converting $100M of ADA into bitcoin and stablecoins.Show Sponsor - ✅ VeChain is a versatile enterprise-grade L1 smart contract platform https://www.vechain.org/ 

The Spectator's economics editor Michael Simmons is joined by the outgoing boss of the Institute for Fiscal Studies Paul Johnson and the CEO of the Resolution Foundation Ruth Curtice to understand why Britain's economy is in such a bad place. Given it feels like we are often in a doom loop of discussion about tax rises, does this point to a structural problem with the British economy? And why are the public's expectations so out of line with the state's capabilities?Michael, Paul and Ruth talk about whether it's fair for Labour to claim they've been ending austerity, the extent to which the effects of the covid-19 pandemic are still being felt and if tax rises are inevitable. Plus – if Ruth and Paul had the opportunity to be an economic Treasury dictator, what one policy would they enact to make a big change?Produced by Patrick Gibbons. Hosted on Acast. See acast.com/privacy for more information.

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger PictureTrump is bringing in more investments each and everyday which is countering everything the [CB] has done over the many years. The parallel economy is getting stronger and the [CB] has lost the fight. Trump is prepping the new economy and the Federal Reserve will be restructured into the Treasury. The [DS] is panicking, Trump is in process of removing the state funded terrorists around the world. The people of Iran will be free soon. The [DS] is planning a mass riot across the country. They will most likely try to push a [FF] of creating some type of martyr. How do you force antifa, illegals, terrorist the [DS] out of the shadows and into the light? How do you bypass the corrupt judges? The [DS] is desperate and panicking, Trump is using this to trap them.   Economy https://twitter.com/EricLDaugh/status/1933554795765477508 (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); Restructuring the Federal Reserve into the Department of the Treasury—effectively absorbing its functions under direct executive control—would be a dramatic shift in U.S. monetary policy and governance. While Andrew Jackson dismantled the Second Bank of the United States by withdrawing federal funds and vetoing its recharter, the Federal Reserve is a far more complex and entrenched institution, created by the Federal Reserve Act of 1913 with a perpetual charter.     Potential Steps Trump Could Take   Trump could work with Congressional allies to draft a bill transferring key Fed functions (e.g., monetary policy, bank supervision) to the Treasury. This might involve creating a new Treasury division or empowering the Treasury Secretary to oversee interest rates and money supply. Frame the Narrative: Like Jackson, Trump could rally public support by portraying the Fed as an elitist institution that prioritizes Wall Street over Main Street. He could argue that placing monetary policy under the Treasury ensures democratic accountability. Leverage Political Capital: With Republican control of Congress, Trump could prioritize this agenda, using budget negotiations or debt ceiling talks to pressure lawmakers. However, he'd need to overcome resistance from moderates and filibuster threats in the Senate. Historical Precedent: Before the Fed, the Treasury managed some banking functions (e.g., under the Independent Treasury System post-1836). Trump could cite this as a viable model, though it was abandoned due to inefficiencies. Executive Actions to Increase Treasury Influence:   Trump could nominate a Treasury Secretary and Fed governors who support closer alignment between the two entities. While the Fed chair cannot be fired mid-term without cause, Trump could appoint a like-minded chair when the current term ends (e.g., Jerome Powell's term as chair expires in 2026).  Trump could issue orders directing the Treasury to study or assume certain Fed roles (e.g., payment systems or debt management). While symbolic, such moves could signal intent and pressure Congress. Treasury-Fed Coordination: Trump could push for formal agreements (e.g., a revised Treasury-Fed Accord, like the 1951 agreement) to give the Treasury more say in monetary policy, short of full control.

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 SUBSCRIBE at:The Todd Herman Show - Podcast - Apple PodcastsThe Todd Herman Show | Podcast on SpotifyWATCH and SUBSCRIBE at: Todd 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 SUBSCRIBE at:The Todd Herman Show - Podcast - Apple PodcastsThe Todd Herman Show | Podcast on SpotifyWATCH and SUBSCRIBE at: Todd 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

Why are LT rates rising? Most people say it is the long overdue reckoning. After resisting inflation, the Fed, most of all insane debt levels for years, the chickens have finally come home to roost for longer-dated Treasury notes and bonds. And that would mean the market was wrong about all those factors up until now. What IS happening on the curve?Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Today's Headlines: Nationwide protests against ICE raids are ramping up ahead of “No Kings Day,” a weekend of counter-programming to Trump's birthday military parade. Trump declared he “liberated” LA in a speech to troops, while California Gov. Gavin Newsom criticized the military deployment. Texas Gov. Greg Abbott followed by mobilizing the state's National Guard. Trump also announced a pending U.S.-China trade deal that would ease rare earth exports and partially lift U.S. export restrictions, though tariffs on Chinese imports will remain steep. Meanwhile, the U.S. is extending its tariff pause for other countries—contradicting earlier White House statements. Inflation rose just 0.1% in May, bringing the annual rate to 2.4%. Elon Musk publicly apologized to Trump after a reported intervention by GOP allies, seemingly ending their brief online feud. The U.S. is evacuating staff from parts of the Middle East as tensions with Iran escalate. Trump also urged Israel to halt its Gaza offensive and threats toward Iran. Domestically, the EPA is moving to repeal major pollution regulations on coal and gas plants, including mercury emissions. And in New York, Harvey Weinstein was found guilty on one charge of sexual assault, with the jury still deliberating on a third. Resources/Articles mentioned in this episode: PBS: WATCH: Trump speaks at Fort Bragg while facing criticism for deploying military at Los Angeles protests Axios: No Kings Day: Gov. Abbott deploys National Guard  NYT: Trump Hails Progress With China, but Details Are Sketchy Yahoo Finance: Bessent, asked about Fed chair job, says 'I would like to stay' Treasury secretary until 2029 BBC: Trump's tariffs 'not going away', top adviser says  Axios: Inflation slowed in May despite tariffs, Consumer Price Index shows CNN: Musk called Trump Monday night before expressing regret for harshest criticism of the president Axios: U.S. evacuating personnel from Middle East amid growing tensions with Iran CNN: Trump tells Netanyahu to end Gaza war and stop Iran threats, source says, as US ramps up pressure on Israel CNN: Trump EPA proposes repealing major air pollution and emissions limits for power plants The Guardian: Harvey Weinstein found guilty on one charge in New York sex crimes retrial Morning Announcements is produced by Sami Sage and edited by Grace Hernandez-Johnson Learn more about your ad choices. Visit megaphone.fm/adchoices

Positive Market Performance and Key Economic Indicators - June 12th Edition In this edition of Dividend Cafe, Brian Szytel discusses the positive performance across major indices with the Dow up 101 points, the S&P rising 0.38%, and the Nasdaq up a quarter percent. Treasury yields showed weakness, and a lower-than-expected PPI number contributed to falling interest rates and a slightly weaker dollar. Initial jobless claims showed a slight increase for the fourth consecutive week, signaling a softening labor market, similar to levels seen in the summer of 2023. Brian also touches on the US-China trade talks, the significance of rare earth minerals and technology exports, and the current state of private real estate investment trusts, like Starwood and Blackstone. He concludes by urging viewers to send in questions and announces upcoming content for the week. 00:00 Introduction and Market Overview 00:22 Treasury Yields and Dollar Movement 00:34 Producer Price Index and Inflation 01:14 Jobless Claims and Labor Market Insights 01:56 US-China Trade Talks 03:22 Real Estate Market Analysis 04:28 Conclusion and Upcoming Updates Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

Our Global Head of Fixed Income Research and Public Policy Strategy Michael Zezas reads the fine print of U.S. tax legislation to understand how it might affect foreign companies operating in the U.S. and foreign investors holding U.S. debt.Read more insights from Morgan Stanley.----- Transcript -----Welcome to Thoughts on the Market. I'm Michael Zezas, Global Head of Fixed Income Research and Public Policy Strategy. Today we're talking about a proposal tucked away in U.S. tax legislation that could impact investors in meaningful ways: Section 899.It's Wednesday, June 11th, at 12 pm in New York. So, Section 899 is basically a new rule that's part of a bigger bill that passed the House. It would give the U.S. Treasury the power to hit back with taxes on foreign companies if they think other countries are unfairly taxing U.S. businesses. And this rule could override existing tax agreements between countries, even applying to government funds and pension plans.The immediate concern is whether foreign holdings of U.S. bonds would be taxed – something that's not entirely clear in the draft language. Making the costs of ownership higher would affect holders of tens of trillions of U.S. securities. That includes about 25 percent of the U.S. corporate bond market. In short, the concern is that this would disincentivize ownership of U.S. bonds by overseas investors, creating extra costs or risk premium – meaning higher yields. The good news is that there's a decent chance the Senate will tweak or clarify Section 899. Consider the evidence that the motive of those who drafted this provision doesn't seem to have been to tax fixed income securities. If it was, you'd expect the official estimates of how much tax revenue this provision would generate to be far higher than what was scored by Congress. Public comments by Senators seem to mirror this, signaling changes are coming. But while that might mitigate one acute risk associated with 899, other risks could linger. If the provision were enacted, it acts as an extra cost on foreign multinationals investing in building businesses in the U.S. That means weaker demand for U.S. dollars overall. So while this is not at the core of our FX strategy team's thesis on why the dollar weakens further this year, it does reinforce the view. For European equities, our equity strategy team flags that Section 899 adds a whole new layer of worry on top of the tariff concerns everyone's been talking about. While people have been focused on European goods exports to the U.S., Section 899 could affect a much broader range of European companies doing business in America. The most vulnerable sectors include Business Services, Healthcare, Travel & Leisure, Media, and Software – basically, any European company with significant U.S. business.The bottom line, even if modified, if section 899 stays in the bill and is enacted, there's key ramifications for the U.S. dollar and European stocks. But pay careful attention in the coming days. The provision could be jettisoned from the Senate bill. It's still possible that it's too big of a law change to comply with the Senate's budget reconciliation procedure, and so would get thrown out for reasons of process, rather than politics. We'll be tracking it and keep you in the loop.Thanks for listening. If you enjoy Thoughts on the Market please leave us a review. And tell your friends. We want everyone to listen.

Later this week, the U.S. Treasury will auction off billions of dollars worth of 30-year bonds. While that may seem yawn-worthy to most of us, the outcome of that sale has big ramifications for consumer borrowing costs down the road. We'll explain. Also in this episode: Targeting of international students hurts public and private universities, “core goods” is where tariff-driven inflation might show up first, and students at a fast-growing high school in Utah run their own soda shop.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.