Podcasts about united states treasury

United States federal executive department

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Best podcasts about united states treasury

Latest podcast episodes about united states treasury

The Glenn Beck Program
The Most Dangerous AI Story Glenn Has Ever Heard | Guests: Robby Starbuck & Brad Meltzer | 5/23/25

The Glenn Beck Program

Play Episode Listen Later May 23, 2025 133:10


Glenn dives deeper into the murder of two Israeli embassy staffers shot dead outside D.C.'s Jewish museum by a pro-Palestine activist. Glenn goes through the anti-Semitic beliefs of the alleged shooter, who has ties to radical leftist groups. This was not a political protest; this was an act of anti-Semitic terrorism. Glenn goes through some of the good news you may have missed, including the EV car mandate failing and lowering gas prices. A church in Arizona has been charged with committing a Medicare scam. The death of the penny is here. After its latest order, the United States Treasury will stop minting new pennies to save cost. Filmmaker Robby Starbuck joins to share his story of Facebook's parent company, Meta, falsely accusing him of committing a crime on January 6 through the company's AI software. Robby is now suing Meta for defamation. Author Brad Meltzer joins to discuss his newest book, "Make Magic," based on the viral commencement speech he gave at his son's graduation. Glenn rants about the Left's outrage over Pete Hegseth holding a religious service at the Pentagon. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Steve Gruber Show
Steve Gruber | A remarkable revelation—more than 200 people were arrested yesterday in an FBI investigation

The Steve Gruber Show

Play Episode Listen Later May 8, 2025 11:00


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

EconoFact Chats
Treasury Bonds, Safe Havens, and Financial Stress

EconoFact Chats

Play Episode Listen Later Apr 13, 2025 28:09


United States Treasury bonds have long been viewed as a highly liquid investment with very little risk of default. They have served as a safe haven for investors and also provided a benchmark interest rate for mortgages, car loans, corporate debt, and other bonds. Typically, Treasury bond yields fall at times of financial stress as demand for Treasury securities rise. But this time is different. Bond prices have fallen and yields have risen in the wake of the policy volatility of the past month. Jeremy Stein joins EconoFact Chats to discuss the reasons for the increase in interest rates, its possible consequences, and policies to calm the bond market. Jeremy is the Moise Y. Safra Professor of Economics at Harvard University. Previously, he served as a member of the Board of Governors of the Federal Reserve. He was also an advisor to the Treasury Secretary during the 2008 Global Financial Crisis.

Stinchfield with Grant Stinchfield
Trump Needs to Dispatch DOGE to Ukraine, The Globalist's Leading Money Laundering Nation

Stinchfield with Grant Stinchfield

Play Episode Listen Later Feb 20, 2025 52:30


The Globalists are using the United States Treasury as its own personal money press. It pushes money through corrupt agencies, organizations and nations to filter that cash back to the connected elites and "Deep State" insiders. I believe we can now add Ukraine to this list. President Trump knows much of the Biden - Deep State corruption scheme runs straight through Ukraine, the most corrupt nation in the world. It is time for President Trump to dispatch a second DOGE team to Ukraine. President Trump's latest feud with Ukraine's President Zelenskyy is actually more of a shot across the bow. Trump is sending a message to Zelenskyy that he knows he has stolen American cash and most likely filtered it back to bad actors across the world. Zelenskyy's claim he doesn't know where much of the money the United States sent to Ukraine is, is nothing short of a bold faced lie. Go to http://freegoldguide.com/grant or call 800 458 7356 for your free Colonial Metals Group retirement protection kit – created specifically for our listeners where you can get up to $7500 in free Silver. www.PatriotMobile.com/Grantwww.Get21Now.comwww.EnergizedHealth.com/GrantTWC.Health/Grant Use "Grant" for 10% Off See omnystudio.com/listener for privacy information.

Government Of Saint Lucia
Government Notebook (Sep. 10, 2024)

Government Of Saint Lucia

Play Episode Listen Later Sep 10, 2024 15:01


In the headlines: Caribbean countries and the United States Treasury hold a productive meeting on implementing Citizenship by Investment protocols and; The Saint Lucia House of Assembly meets today. For details on these developments and more, visit: www.govt.lc

Market Mondays
How Can The United States Treasury Department Help Close The Racial Wealth Gap

Market Mondays

Play Episode Listen Later Jun 5, 2024 19:28


Welcome to a special clip of Market Mondays, featuring an insightful discussion straight from Washington, DC. Joining us are two distinguished guests: Representative Lauren Underwood of Illinois' 14th district and the Deputy Secretary of the United States Treasury, Wally Adeyemo. *Key Highlights:**1. Access to Capital for Black Entrepreneurs:*Rashad Bilal kicks off the conversation by exploring access to capital through community lenders. Learn about the $9 billion approved under Vice President's leadership to support community development financial institutions and black-owned banks. Discover how this initiative has led to the doubling of black-owned small businesses in America over the past three years.*2. Semiconductor and Science Act:*Troy Millings delves into the significance of semiconductors and America's leadership in this space. The pandemic demonstrated the critical need for domestic production of chips, necessary for everything from cars to iPads. Wally Adeyemo discusses the importance of the Semiconductor and Science Act in ensuring the U.S. maintains a leading role while creating jobs in underserved communities.*3. Addressing Economic Inequities:*Ian Dunlap asks about the Treasury's role in addressing economic inequalities. Adeyemo emphasizes the importance of investing in communities with potential but historically lacked opportunities. Discover how efforts to support black and Latino small businesses contribute to the broader growth of the U.S. economy.*4. Inflation Reduction Act:*Inflation has been a significant challenge for Americans. Wally Adeyemo explains the Inflation Reduction Act, which aims to cut everyday costs, from energy bills to prescription drugs. Learn about tax incentives for energy-efficient upgrades and how the cap on insulin costs is setting a precedent for reducing healthcare expenses nationwide.*5. Affordable Homeownership:*Homeownership is a critical path to wealth creation, particularly in black and Latino communities. Adeyemo outlines incentives for down payment assistance, zoning law changes, and support for first-time homebuyers to make homeownership more accessible.*6. Personal Journeys:*Discover the inspiring journeys of our guests. Wally Adeyemo, the first black American in his role, shares how his parents' commitment to public service influenced his career path. Representative Lauren Underwood, the youngest black woman elected to Congress, reveals how tackling healthcare inequities led her to Congress and her ongoing efforts to make America work for everyone.*7. The Role of the U.S. Treasury:*Understand the multifaceted role of the Treasury Department beyond printing money. Adeyemo explains how they work to grow the U.S. economy, support small businesses, and enhance IRS services, making tax filing easier and more cost-effective for Americans.*8. Bridging Gaps for Millennials and African Americans:*Rep. Underwood highlights the importance of access to information and resources, ensuring programs reach those who need them most. She emphasizes the need for millennials and African Americans to recognize and utilize the opportunities available, encouraging active participation in shaping a fairer, more inclusive economy.This episode is packed with valuable insights on financial inequities and the steps being taken to address them. Whether you're an entrepreneur, a policymaker, or simply interested in economic justice, there's something here for everyone.*#MarketMondays #FinancialInclusion #Entrepreneurship #EconomicEquity #USATreasury #LaurenUnderwood #WallyAdeyemo #SmallBusiness #InflationReduction #Homeownership #BlackWealth #SemiconductorIndustry #PublicService #MillennialFinance #CommunityDevelopment*Our Sponsors:* Check out Monarch Money: www.monarchmoney.comSupport this podcast at — https://redcircle.com/marketmondays/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Unf*ck Your Biz With Braden
337 - The BOI (Beneficial Ownership Information) Report and Why You Need to File It ASAP

Unf*ck Your Biz With Braden

Play Episode Listen Later May 16, 2024 16:20


On today's episode of the podcast we're taking about the Corporate Transparency Act and why it comes with a Beneficial Ownership Information report. Spoiler alert: you'll need to fill out the BOI form this year if you haven't already. When Congress makes new laws, they set a day when the law becomes effective. It's a heads up that they're changing the rules and that starting on that day-you'll be expected to obey. That delay gives everyone time to • read the new law, • ask questions about what the new law means, and • organize resources in preparation for the new law. In 2021 Congress passed a bundle of laws as part of the annual defense budget which came into effect on January 1st of this year called the Corporate Transparency Act. The Corporate Transparency Act requires most businesses to disclose certain information to the federal government. We'll cover: • whether or not your business is exempt from reporting,• whose information gets reported, and • how to report that information if you're required to do so. The Corporate Transparency Act is for helping law enforcement agencies find, prevent, and prosecute financial crimes. Financial crimes can look like a lot of different things. A popular example you see in movies is money laundering, when people get money from illegitimate sources but can't just go deposit it in a bank or use it to buy a car or a new house with it so they disguise it as other assets and run it through their business. People have been doing this for a very long time and proving it can be difficult. Back in 1970 Congress gave us the Bank Secrecy Act, which said banks have to actually help law enforcement identify and prosecute financial crimes. The reason was because banks didn't care where the money was coming from, they were getting paid and it wasn't their job to ask whether money was coming from a legitimate or criminal enterprise. Congress said banks don't get to turn a blind eye and have to report suspicious activity or really huge transfers. While this helped a lot, there was still plenty they couldn't catch. In 1990, Congress gave us a sub-department of the United States Treasury called the Financial Crimes Enforcement Network, or FinCEN. FinCEN lets law enforcement agencies talk to each other about that information that banks have to report, like suspicious activity or huge transactions. They compare notes, so even if a single blip on the radar didn't raise any alarms at the FBI, they might talk to state law enforcement and compare notes and find out about criminal activity they couldn't see before. FinCEN even gives awards every year to different agencies that successfully use FinCEN's data to prevent or prosecute crimes. For example, in 2023- • The Drug Enforcement Administration used FinCEN data to find and seize 4.5 metric tons of cocaine• The Secret Service and U.S. Postal Inspections Service used FinCEN data to shut down a scheme to compromise emails• And the Department of Justice's Civil Rights Division used FinCEN data to protect hundreds of victims of a human trafficking ring. But there was a huge absence of information for FinCEN that still made it really hard to crack down on financial crimes. FinCEN knew what the banks were telling them about suspicious activity and big transactions and what other agencies noticed about that information but they didn't know who was behind these semi-legitimate businesses. That's what this new law, the Corporate Transparency Act is for. Businesses affected by the law will have to complete a Beneficial Ownership Information report to FinCEN. While it's not a ton of information they require from you, it's information from a ton of people, and that tells them more than you might think and helps them discover a lot more criminal activity that they couldn't know about just from the banks or by talking to each other. By collecting a small amount of information about a lot of people, you can make connections in their interests, and gain insight into their activities. Congress says we're now going to use that method of data interpretation to catch financial crimes and the people who benefit from them. To comply with the law and tell them you aren't commiting financial crimes, you need to file a Beneficial Ownership Information report on FinCEN's website. I really doubt you fall under an exception, because basically the only companies that don't have to file are businesses that already have to give FinCEN a bunch of information, like banks. If your business was formed by filing with a secretary of state, you've got to dish your deets. LLC's, Corporations, whatever. If you created it by sending a piece of paper to your Secretary of State, you gotta tell FinCEN who you are. If you have an ownership interest in a business, same deal, dish the deets. Important note here: It doesn't matter to them if you have a controlling interest in a business, like the majority of shares or whatever. You are a quote “Beneficial Owner” as long as you have an ownership interest that you benefit from. If your name is going to be on a form to create a business like an LLC or corporation either this year or in the future, then you're what they're calling a Company Applicant, and you need to fill out a report. Whatever reason you have for filing a report, whether you formed a business or you're a beneficial owner, or your name is going on the paperwork for a new business-we're all going to the same place for this report. You go to FinCEN's website and they have a big ol' button on the front page that'll take you to file at https://www.fincen.gov/boi I recommend taking a minute to gather your info before you start, like, the same papers you would if you were jumping on a tax strategy or business entity formation call with me. We need stuff both for your business and for you personally, since you're a beneficial owner. For your business, you'll need to report: • Your full legal name• Any Doing Business As (DBA) or trade names• Your complete current U.S. address The State, tribal, or foreign jurisdiction of formation (wherever you sent the papers to create your company)• If it was formed abroad: the State or Tribal jurisdiction of first registration• And your IRS Taxpayer Identification Number (including Employer Identification Number) For each beneficial owner or company applicant, you'll report: • Full legal name• Date of Birth• Complete current residential address (except if you filed on behalf of a business, like if you're a paralegal)• Unique identifying number, issuing jurisdiction AND image of one of the following documents:• U.S. Passport• State driver's license• Identification document issued by a state, local government, or tribe. Great. Love it. Let's talk due dates. If your business creation documents were filed prior to January 1, 2024 then you have until January 1, 2025. Amazing. That date feels pretty far off, but we want to treat it like a tax deadline and make sure we have all our information in so we can file ahead of schedule and spend Deadline Day relaxing at the pool. For new businesses being formed this year, you've got less time. If your business creation documents were filed/will be filed after January 1, 2024 then you have 90 days from the date of notice that the filing is effective. So you get an email from the secretary of state saying yes you can be a company, and you'll have 90 days to tell FinCEN that it's official. Starting January 1, 2025, they really pick up the pace. If your business creation documents are filed after January 1, 2025 then you will have 30 days from the date of notice that the filing is effective. I know this might sound scary but don't panic. Just follow rules and file your report. When they passed this law, Congress kind of interrogated FinCEN about how harsh they were going to be about the reports. FinCEN isn't looking for gotcha moments. They only want to prosecute willful violations. You are a pinpoint of data on a map of every business in America. They're looking to trace the path of money from point to point and see when it cycles back or if it's headed to something bad.

EconoFact Chats
The Greek Debt Crisis: Resolution and Lessons

EconoFact Chats

Play Episode Listen Later May 6, 2024 26:10


“Grexit,” Greece dropping out of the Eurozone, seemed the most likely outcome of that country's debt crisis in the early 2010s. There were fears that Grexit would be followed by a more widespread splintering of the Eurozone. But Greece and its creditors came to an agreement that enabled the country to service its debt and contributed to its subsequent recovery (and the preservation of the Eurozone). In a striking turnaround, Greece was named the 2023 “Country of the Year” by The Economist magazine. Charles Dallara (Partners Group) recounts the resolution of this crisis, the Greek recovery, and his role in getting Greece and its creditors to come to agreement, in his new book 'Euroshock: How the Largest Debt Restructuring in History Helped Save Greece and Preserve the Eurozone,' which he discusses in this EconoFact Chats episode, along with the lessons of this experience for the current high-debt conditions today. Charles is Chairman and Advisory Partner at Partners Group. At the time of the Greek crisis he was the Managing Partner of the Institute for International Finance. Before that he spent nearly four decades working on international economic policy issues, including at the United States Treasury.

EconoFact Chats
The Greek Debt Crisis: Resolution and Lessons

EconoFact Chats

Play Episode Listen Later May 6, 2024 26:10


“Grexit,” Greece dropping out of the Eurozone, seemed the most likely outcome of that country's debt crisis in the early 2010s. There were fears that Grexit would be followed by a more widespread splintering of the Eurozone. But Greece and its creditors came to an agreement that enabled the country to service its debt and contributed to its subsequent recovery (and the preservation of the Eurozone). In a striking turnaround, Greece was named the 2023 “Country of the Year” by The Economist magazine. Charles Dallara (Partners Group) recounts the resolution of this crisis, the Greek recovery, and his role in getting Greece and its creditors to come to agreement, in his new book 'Euroshock: How the Largest Debt Restructuring in History Helped Save Greece and Preserve the Eurozone,' which he discusses in this EconoFact Chats episode, along with the lessons of this experience for the current high-debt conditions today. Charles is Chairman and Advisory Partner at Partners Group. At the time of the Greek crisis he was the Managing Partner of the Institute for International Finance. Before that he spent nearly four decades working on international economic policy issues, including at the United States Treasury.

Economics Explained
Reagan, Supply-Side Economics, and Trump w/ Ed Oswald - EP238

Economics Explained

Play Episode Listen Later Apr 30, 2024 40:22


This episode explores the profound influence of Reaganomics and its enduring legacy in American economic policy with tax expert and former US Treasury attorney Ed Oswald. He is the author of a new book, “From Ronald to Donald: How the Myth of Reagan Became the Cult of Trump”. Oswald discusses the transition from Reagan's tax reforms to Trump's tax policies, highlighting the continuity in supply-side economics and its implications for fiscal policy and the national debt.Please email us at contact@economicsexplored.com or send a voice message via https://www.speakpipe.com/economicsexplored  with any questions, comments, or suggestions. About this episode's guest: Edwin G. OswaldEdwin G. Oswald is a partner with the law firm of Orrick, Herrington & Sutcliffe LLP, resident in Washington D.C. He served as an attorney-advisor in the United States Treasury's Office of Tax Legislative Counsel during the Clinton Administration. He is a Fellow of the American College of Tax Counsel and a frequent lecturer on financing State and local infrastructure and the federal taxation of municipal debt. The book is a personal project of Mr. Oswald's and the views and opinions expressed herein are those of the co-authors and do not represent the views and opinions of Orrick.What's covered in EP238Reagan's economic policies and their impact on the US deficit. (0:00)Supply-side economics and its impact on US deficits. (6:55)Reaganomics and its impact, and the impact of Clinton administration policies (e.g. NAFTA, repeal of Glass-Steagall). (16:14)Reagan and Trump similarities, tax cuts, and budget. (26:24)Tax policy and its impact on the economy. (33:22)TakeawaysReagan's economic policies, particularly his tax cuts, have had a lasting influence on American politics, setting a precedent followed by later administrations, including Trump's.Ed Oswald argues that supply-side economic policies from Reagan to Trump show a consistent belief in tax cuts for the wealthy as a means to stimulate economic growth, despite debates about their effectiveness and impact on the national debt.In Ed's view, addressing the US debt will likely require a balanced approach of tax increases and spending cuts.Links relevant to the conversationEd's book: https://www.amazon.com.au/Ronald-Donald-Reagan-Became-Trump/dp/1476690324Ed's bio: https://www.edwingoswald.com/Recent episode with Dan Mitchell on US debt:https://economicsexplored.com/2024/04/17/is-uncle-sam-running-a-ponzi-scheme-with-the-national-debt-w-dr-dan-mitchell-ep235/

Mises Media
Seed Corn and Dry Powder

Mises Media

Play Episode Listen Later Nov 11, 2023 6:51


On this week's episode, Mark looks at the financial condition of the government and of American citizens on the cusp of the next recession. The financial condition of the United States Treasury, the Federal Reserve, and the American citizenry is weak; debt is high and rising, and this is very worrisome in an economic environment of rising interest rates and a weakening global economy. Please share this episode with a curmudgeon. The U.S. Debt Clock: https://USDebtClock.org Be sure to follow Minor Issues at https://Mises.org/MinorIssues.

Mises Media
Seed Corn and Dry Powder

Mises Media

Play Episode Listen Later Nov 11, 2023


On this week's episode, Mark looks at the financial condition of the government and of American citizens on the cusp of the next recession. The financial condition of the United States Treasury, the Federal Reserve, and the American citizenry is weak; debt is high and rising, and this is very worrisome in an economic environment of rising interest rates and a weakening global economy. Please share this episode with a curmudgeon. The U.S. Debt Clock: USDebtClock.org Be sure to follow Minor Issues at Mises.org/MinorIssues.

Mises Media
Seed Corn and Dry Powder

Mises Media

Play Episode Listen Later Nov 11, 2023


On this week's episode, Mark looks at the financial condition of the government and of American citizens on the cusp of the next recession. The financial condition of the United States Treasury, the Federal Reserve, and the American citizenry is weak; debt is high and rising, and this is very worrisome in an economic environment of rising interest rates and a weakening global economy. Please share this episode with a curmudgeon. The U.S. Debt Clock: USDebtClock.org Be sure to follow Minor Issues at Mises.org/MinorIssues.

Something More with Chris Boyd  Show Podcasts
Rising National Debt and Budget Deficits; Higher potential Bond rates

Something More with Chris Boyd Show Podcasts

Play Episode Listen Later Oct 13, 2023 24:27


Asset Management Resources Chartered Financial Analyst Brian Regan joins guest host Jeff Perry for an informative and timely discussion about how the bond market is impacting the stock market. The conversation starts with a review of the inversion of the yield curve and additional commentary by Brian on the recent movements of the 10-year treasury note. Jeff seeks Brian's expert opinion regarding the likelihood of a recession in the near future. With a rising national debt and budget deficits, Brian and Jeff discuss the possibility of the United States Treasury potential need to pay higher rates on bonds to attract an adequate level of buyers to service our debt. If you need help with financial planning issues don't hesitate to reach out to Asset Management Resources at (866) 771-8901. Something More with Chris Boyd: https://amrfinancial.com/radio/ https://www.facebook.com/SomethingMoreWithChrisBoyd https://www.instagram.com/somethingmorewithchrisboyd/ https://twitter.com/SMoreChrisBoyd

TNT Radio
John Helmer, Paul Craig Roberts & IQ Al Rassooli on Compass with Jason Olbourne - 5 July 2023

TNT Radio

Play Episode Listen Later Jul 5, 2023 55:48


On today's show, John Helmer discusses the dangerous possibilities of a potentially lethal attack, by Ukrainian Forces, on a nuclear power plant in Ukraine that could lead to a mass casualty event. Dr Paul Craig Roberts, former Assistant Secretary of the Treasury for Economic Policy discusses the ongoing decline of the US Dollar. GUEST 1 OVERVIEW: John Helmer is the longest continuously serving foreign correspondent in Russia, and the only western journalist to direct his own bureau independent of single national or commercial ties. He first set up his bureau in 1989, making him today the doyen of the foreign press corps in Russia. Born and educated in Australia, then at Harvard University, Helmer has also been a professor of political science, of sociology, and of journalism, and an advisor to government heads in Australia, Greece, the United States, and Sri Lanka. Today Helmer is one of the most widely read Russian specialists in the business world for his news-breaking stories on Russian base and precious metals, diamonds, mining, shipping, insurance, food trade, and business policy. GUEST 2 OVERVIEW: Dr. Paul Craig Roberts is the recipient of the US Treasury Department's Meritorious Service Award for “his outstanding contributions to the formulation of United States economic policy.” President Reagan appointed Dr. Roberts Assistant Secretary of the Treasury for Economic Policy and he was confirmed in office by the U.S. Senate. Together with Jack Kemp, Dr. Roberts is regarded as the co-architect of the Reagan Revolution and was credited as the primary author of the original draft of the Economic Recovery Tax Act of 1981. After leaving government, Dr. Roberts held the William E. Simon chair in economics at the Center for Strategic and International Studies for ten years and served on several corporate boards. In 1987 Roberts was invested into the Legion of Honour at the rank of chevalier (knight) by President of France François Mitterrand. He is also recipient of the United States Treasury's Meritorious Service Award and the International Journalism Award for Political Analysis from the Mexican Press Club. A former associate editor at The Wall Street Journal, his articles have also appeared in The New York Times and Harper's, and he is the author of more than a dozen books and a number of peer-reviewed papers. His books include The Failure of Laissez Faire Capitalism; How the Economy Was Lost; The Neoconservative Threat to World Order: America's Perilous War for Hegemony and The Tyranny of Good Intentions. His website is http://www.paulcraigroberts.org/ GUEST 3 OVERVIEW: IQ Al Rassooli is a scholar and author of the trilogy books Lifting the Veil: The True Faces of Muhammad and Islam and is an Iraqi who lives in exile and is a former Muslim.

The Strategy Skills Podcast: Management Consulting | Strategy, Operations & Implementation | Critical Thinking
359: Ex senior McKinsey Partner and worldwide strategy practice co-leader, Kevin P. Coyne (Strategy Skills classics)

The Strategy Skills Podcast: Management Consulting | Strategy, Operations & Implementation | Critical Thinking

Play Episode Listen Later Jun 28, 2023 39:15


For this episode, let's revisit a Strategy Skills classic with Kevin P. Coyne, founder of Coyne Scientific. He is the former Director and co-leader of both McKinsey's Worldwide Strategy Practice and CEO transitions practice, and the host of The Consulting Offer II Kevin attended the Harvard Business School after his junior year of college. He simultaneously graduated from both Rice University and Harvard in 1978 and joined McKinsey as the youngest associate ever and one of the youngest principals ever appointed. During a 27 year career at McKinsey Kevin advised clients on a variety of issues and across a broad range of industries including banking, consumer goods, venture capital, industrial, telecommunications and the public sector. His primary area of focus was corporate strategy. He has worked one-on-one with over twenty-five different CEOs. Kevin has been an active leader in civic roles throughout his career. He served as an Executive Assistant and sole policy advisor to the Deputy Secretary of the United States Treasury, the second ranking department official in the Reagan Administration. In that role he advised on Brazil's economic growth, served as an intermediary between Britain and Argentina after the Falklands war and advised on opening Japan's capital markets. He recently co-led several pro-bono efforts, including the following: Setting up the Bush-Clinton Katrina Fund Leading the Atlanta and London Olympic Games committees on several initiatives Leading the team supporting former US President Carter on the Atlanta Project helping low-income citizens Kevin has co-written 6 Harvard Business Review articles, 12 McKinsey Quarterly articles and 2 bestselling business books, as well as many other articles across influential business publications. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

STRETCHGOOSE
S2/Ep 31: Kickback Scheme and Lost Cash

STRETCHGOOSE

Play Episode Listen Later Jun 28, 2023 13:33


Today is all about losing money,   The United States Treasury drains 150 billion dollars and a California Nursing Home gets caught in a kickback scheme.   Email the show at stretchgoose@gmail.com Music by Trap Geek

Congressional Dish
CD276: The Demise of Dollar Dominance

Congressional Dish

Play Episode Listen Later Jun 26, 2023 89:29


The U.S. dollar's status as the global reserve currency is diminishing, which reduces the power that U.S. leaders have over the global economic system. In this episode, hear highlights from recent Congressional testimony during which financial elites examine the current status of the global financial system and what Congress is being told to do to address perceived threats to it (and to their own power). Please Support Congressional Dish – Quick Links Contribute monthly or a lump sum via PayPal Support Congressional Dish via Patreon (donations per episode) Send Zelle payments to: Donation@congressionaldish.com Send Venmo payments to: @Jennifer-Briney Send Cash App payments to: $CongressionalDish or Donation@congressionaldish.com Use your bank's online bill pay function to mail contributions to: 5753 Hwy 85 North, Number 4576, Crestview, FL 32536. Please make checks payable to Congressional Dish Thank you for supporting truly independent media! View the show notes on our website at https://congressionaldish.com/cd276-the-demise-of-dollar-dominance Background Sources Recommended Congressional Dish Episodes CD269: NDAA 2023/Plan Ecuador CD230: Pacific Deterrence Initiative CD195: Yemen CD187: Combating China CD102: The World Trade Organization: COOL? International Monetary Fund “IMF Financial Activities List 2023.” Updated June 21, 2023. International Monetary Fund. “Weekly Report on Key Financial Statistics.” June 9, 2023. International Monetary Fund. “IMF Lending.” Updated December 2022. International Monetary Fund. Argentina “Argentina: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding” October 17, 2018. International Monetary Fund. “Argentina Policy Memorandum.” January 11, 1999. International Monetary Fund. Ecuador “Ecuador—Supplementary Letter of Intent.” March 13, 2003. International Monetary Fund. Smaller Banks within the World Trade System International Finance Corporation China “Members and Observers.” World Trade Organization. “ China and the WTO.” World Trade Organization. “From ‘China Shock' to deglobalisation shock: China's WTO accession and US economic engagement 20 years on.” Stephen Kirchner. January 24, 2022. United States Studies Centre. “The China Reckoning: How Beijing Defied American Expectations.” Kurt M. Campbell and Ely Ratner. February 13, 2018. Foreign Affairs. The World Bank “Who can borrow from the World Bank?” December 10, 2020. Bretton Woods Observer. “Domination of the United States on the World Bank.” Eric Toussaint. April 2, 2020. Committee for the Abolition of Illegitimate Debt. “Why Is the World Bank Still Lending to China?” Yukon Huang. January 15, 2020. Carnegie Endowment for International Peace. Congressional Stock Trade Tracking Quiver Quantitative Unusual Whales US Abuse of Sanctions “The Other Counteroffensive to Save Ukraine.” Lawrence Summers et. al. June 15, 2023. Foreign Affairs. Allies Pivoting “Europe must resist pressure to become ‘America's followers,' says Macron.” Jamil Anderlini and Clea Caulcutt. April 9, 2023. Politico. “US State Dept backs latest raft of Saudi, UAE, Jordan arms sales.” February 2, 2022. Al Jazeera. Witnesses Mark Rosen on Linkedin Daniel F. Runde on Linkedin “Membership Roster.” Accessed June 24, 2023. Council on Foreign Relations. Tyler Goodspeed on Linkedin Carla Norrlof - “Board of Directors.” Atlantic Council. Daniel McDowell bio Marshall Billingslea on Linkedin Audio Sources Dollar Dominance: Preserving the U.S. Dollar's Status as the Global Reserve Currency June 7, 2023 House Financial Services Committee Watch on YouTube Witnesses: Dr. Tyler Goodspeed, Kleinheinz Fellow, Hoover Institution at Stanford University Dr. Michael Faulkender, Dean's Professor of Finance, Robert H. Smith School of Business at University of Maryland Dr. Daniel McDowell, Associate Professor, Maxwell School of Citizenship & Public Affairs at Syracuse University Marshall Billingslea, Senior Fellow, Hudson Institute Dr. Carla Norrlöf, Senior Fellow, The Atlantic Council and Professor, University of Toronto Clips 34:05 Dr. Tyler Goodspeed: In 2022, as the Ranking Member highlighted, 88% of all foreign exchange transactions by value involved the United States Dollar, a figure that has been roughly constant since 1989, which is testament to the substantial path dependence in international currency usage due to large positive network externalities. As the Ranking Member also highlighted, 59% of all official foreign exchange reserves were held in US dollars, which is down from a figure of 71.5% in 2001. By comparison 31% of all foreign exchange transactions by value involve the Euro, which is the second most commonly transacted currency, which accounted for 20% of official foreign exchange reserves. 34:50 Dr. Tyler Goodspeed: The fact that 90% of all foreign exchange transactions continue to involve the United States dollar, and that global central banks continue to hold almost 60% of their foreign exchange reserves in US dollars confers net economic benefits on the United States economy. First, foreign demand for reserves of US dollars raises demand for dollar denominated securities, in particular United States Treasury's. This effectively lowers the cost of borrowing for US households, US companies, and federal, state and local governments. It also means that on average, the United States earns more on its investments in foreign assets than we have to pay on foreign investments in the United States, which allows the United States to import more goods and services than we export. Second, foreign demand for large reserves of US dollars and dollar denominated assets raises the value of the dollar and a stronger dollar benefits us consumers and businesses that are net importers of goods and services from abroad. Third, large reserve holdings of US currency abroad in effect constitutes an interest free loan to the United States worth about $10 to $20 billion per year. Fourth, the denomination of the majority of international transactions in US dollars likely modestly lowers the exchange rate risks faced by US companies. Fifth, the given the volume of foreign US dollar holdings and dollar denominated debt, monetary policy actions by foreign central banks generally have a smaller impact on financial conditions in the United States than actions by the United States Central Bank have on financial conditions in other countries. 36:40 Dr. Tyler Goodspeed: However, the benefits of the US dollar's global reserve status are not without costs. The lower interest rates in the United States benefit US borrowers, especially the federal government. They also lower returns to US savers. In addition, though a stronger dollar benefits US consumers and businesses that net import goods and services from abroad, it does also disadvantage US firms that export goods and services abroad as well as firms that compete against imported goods and services. Furthermore, the perception of the US dollar as a safe haven asset means that demand for the dollar tends to increase in response to adverse macroeconomic events that are global in nature. As a result, the competitiveness of US exporters and US firms that compete against imported goods and services are likely to face an increased competitive disadvantage at times of elevated global macroeconomic stress. 37:35 Dr. Tyler Goodspeed: However, despite these costs, studies generally find that the economic benefits of the dollar's prominent global status outweigh the costs, providing a modest net benefit to the United States economy. This does not include the substantial benefit to which the chairman referred of the United States dollar's centrality in global transactions, allowing the United States to utilize financial sanction tools when appropriate in support of national security objectives. 44:50 Dr. Daniel McDowell: With little more than the stroke of the President's pen or through an Act of Congress, the US government can use financial sanctions to impose enormous economic costs on targeted foreign actors, be they individuals, firms, or state institutions, by freezing their dollar assets or cutting them off from access to the banks through which those dollars flow. The consequences for individual targets, known as specially designated nationals or SDNs, are severe, significantly impairing targets capacity to participate in international trade, investment, debt repayment, and depriving them of access to their wealth. Over the last two decades, the United States has used the tool of financial sanctions with increasing frequency. For example, in the year 2000, just four foreign governments were directly targeted under a US Treasury Country Program overseen by the Office of Foreign Assets Control (OFAC). Today that number is greater than 20, and if we include penalties from secondary sanctions the list gets even longer. The more that the United States has reached for financial sanctions, the more it has made adversaries and foreign capitals aware of the strategic vulnerability that stems from dependence on the dollar. Some governments have responded by implementing anti-dollar policies measures that are designed to reduce an economy's reliance on the US currency for investment in cross-border transactions. But these measures sometimes fail to achieve their goals. Others have produced modest levels of de-dollarization. Notable examples here include Russian steps to cut its dollar reserves and reduce the use of the dollar and trade settlement in the years leading up to its full scale invasion of Ukraine, or China's ongoing efforts to build its own international payments network based on the Yuan, efforts that have taken on a new sense of urgency as Beijing has become more aware of its own strategic vulnerabilities from Dollar dependence. 47:05 Dr. Daniel McDowell: The United States should reconsider the use of so-called symbolic financial sanctions. That is, if the main objective of a tranche of sanctions is to signal to the world or to a domestic audience that Washington disapproves of a foreign government's policy choices, other measures that can send a similar signal but do not politicize the dollar system ought to be considered first. Second, the use of financial sanctions against issuers of potential rival currencies in particular, China and its Yuan should face a higher bar of scrutiny. Even a small targeted sanctions program provides information to our adversaries about their vulnerabilities, and gives them time to prepare for a future event when a broad US sanctions program may be called upon as part of a major security crisis, when such measures will be most needed. Finally, whenever possible, US financial sanctions should be coordinated with our allies in Europe and Asia, who should feel as if they are key stakeholders in the dollar system and not vassals to it. Such coordinated efforts will prevent our friends from seeking to conduct business with U.S. adversaries outside of the dollar system and send a message to the whole world that moving activities into secondary currencies, like the Euro or the Yen, is not a safe haven. 48:35 Marshall Billingslea: I'll say at the outset that I agree with you and others that to paraphrase Mark Twain, reports of the dollar's demise have been greatly exaggerated. That said, we need to remind ourselves that in the 16th century the Spanish silver dollar was the dominant currency, in the 17th century it was Dutch florins, in the 18th century it was the pound sterling. The link between a nation's currency and its role as the relatively dominant political actor on the world stage is pretty clear. And that is why people like Lula from Brazil, Putin and Xi all aspire to undercut the role of the dollar as the global reserve currency. 50:00 Marshall Billingslea: If we look at what Russia did in the run-up to its further invasion of Ukraine, they began dumping ownership of treasury bonds in 2018. In that year, they plummeted from $96 billion and holdings down to $15 billion and they also started buying large amounts of gold. China is now, as the Ranking Member has observed, embarking on its own its own gold buying spree. I haven't seen the data for May, but April marked the sixth straight month of Chinese expansion in its gold holdings, and I'm not sure I believe the official figures. We have to recall that China is the dominant gold mining player around the world and half of those gold mining companies are state-owned. So the actual size of China's war chest when it comes to gold reserves may be far higher. In fact, I suspect inevitably far higher than official numbers suggest. Last year China also started dumping its treasuries. 2022 marked the largest or second largest decrease on record, with a drop of about $174 billion, and China stood at the lowest level since 2010. In terms of its holdings, though, this past March they did reverse course. This bears close watching because a sell-off may be a strong indicator of planned aggression. 51:20 Marshall Billingslea: The sheer size of the Chinese economy dwarfs what we've been contending with in the form of Iran, Russia, and so on. And one of the first things that the Biden administration did in the wake of Russia's attack was start sanctioning Russian banks and de-SWIFTing them. That's one thing when you're going after an economy smaller than the size of Texas; it's quite another when you consider that out of the 100 largest banks in the world, China has 20, and all four of the top four are Chinese banks. And that is why many within the Treasury contended when I was there, and they will contend to this day, that these Chinese banks are simply too big to sanction. I don't agree that we can allow that to stand but I do believe we have to start taking very swift action to put us in a situation where we could take punitive measures on these banks if necessary. 54:10 Dr. Carla Norrlöf: I will note that the Dollar's dominance is not quite as strong amongst private actors and private markets as it is with governments. In private transactions, it averages about 45% of the world's total. That includes FX transactions, but also things like issuance of international debt, securities, and cross-border banking. 54:55 Dr. Carla Norrlöf: The Chinese Yuan poses no immediate threat to dollar dominance. It accounts for roughly 3% of overall reserves. So far China has been successful in promoting the Yuan with its trade partners, but the Yuan is scarcely used by countries outside trade with China. China is a potential long term challenger due to its active pursuit of trade and investment relationships. If the Yuan is increasingly used by third countries, it will pose a greater threat to the dollar. 55:30 Dr. Carla Norrlöf: And in addition to these external threats, there is also a domestic threat. Flirting with the possibility of a voluntary default puts dollar dominance at risk. What should the US do to maintain dominance, to curb the domestic threat? Congress should consider creating an alternative mechanism for resolving political differences on government spending and its consequences. 56:00 Dr. Carla Norrlöf: To rein in external threats the United States should, whenever possible, implement multilateral sanctions in support of broadly endorsed goals to shore up the liberal international order. This is likely to limit dollar backlash. 59:40 Marshall Billingslea: The thing I do worry -- I come back to this fact that they've been buying a lot of gold -- that one of the things that they could do, which would be very concerning, if they wind up having larger reserves of gold than we believe, is they could start issuing Yuan or gold denominated, gold-backed Yuan contracts and that would further their ambition for introducing the Yuan onto the world stage. 1:05:00 Marshall Billingslea: China considers the actual composition of its foreign exchange reserves to be a state secret. So they don't publish and they they view it as a criminal offense to try to obtain that information in terms of the balance of how much is gold, how much Dollar or Euro denominated. But the numbers I've seen suggest that still at this moment, about 50% to 60% of their Foreign Exchange reserves are still in Dollars or Euros, which means that they are at high risk of sanctions; we can affect them. The problem is that that war chest that they've built up is enormous. It's more than $3 trillion that they have in Foreign Exchange reserves. Compare that with what Russia had at the onset of its assault, which was around $680 billion, of which we managed to freeze overseas half of it, but Russia is still keeping its economy going despite the Biden administration sanctions. So imagine how they're going to be able to continue with that sizable war kitty in Beijing if they do decide to go after the Taiwanese. 1:09:00 Dr. Tyler Goodspeed: Short term I think the risk is that we continue to see diversification away from the dollar, PRC continuing to push other countries to use trade inverse invoicing and Renminbi, that they continue to promote the offshore Renminbi market, that they continue to promote or force bilateral clearing. Longer term, I think the bigger risk is that foreign investors no longer perceive the United States federal government debt to be as safe and risk free as it is today perceived. 1:41:20 Dr. Daniel McDowell: The demonstration of US control over the actual flow of dollars, of communication, absolutely provides information to adversaries to prepare for events where they may face similar circumstances. And so I think what we're seeing is China, we're seeing Russia, we're seeing other countries try to create alternative payments networks. Russia has its own SPFS payment messaging system. It's quite small. It was launched in 2014, not coincidentally, after the initial round of sanctions targeting Russia. In terms of CIPS, China's cross border payments network, Belarus announced it was having banks join immediately following the 2022 sanctions. So what I'm saying is there's a pattern between when the United States mobilizes control over the pipes and the messaging of cross-border payments and adversaries looking for alternatives. It doesn't mean they're using them, but they're getting plugged into the system as at least sort of a rainy day option in the event of a future targeting. 1:45:35 Dr. Daniel McDowell: I look at China not just as a typical country, because I think they're an alternative service provider. Most countries fall into alternative service users; they're looking for an alternative to the dollar. China, you could perhaps put Europe in this as well, are the only two sort of economic BLOCs capable, I think, of constructing an attractive enough cross-border payments network that could attract those alternative service users that are looking for that network. And so that's why I think again, with China, there should be a higher bar of scrutiny. 2:02:20 Dr. Tyler Goodspeed: As deficits mount and as the debt burden rises above 100%, I think the Congressional Budget Office has it ending the budget window at about 119% of our economy, then we will probably observe an acceleration of diversification away from the dollar as a hedge. Again, I don't see another single currency displacing the dollar as the major international currency or as the major reserve currency, but continued diversification. International Financial Institutions in an Era of Great Power Competition May 25, 2023 House Financial Services Committee Watch on YouTube Witnesses: Jesse M. Schreger, Associate Professor of Business, Columbia Business School Mark Rosen, Partner, Advection Growth Capital and former Acting Executive Director, International Monetary Fund (IMF) Daniel F. Runde, Senior Vice President, Center for Strategic & International Studies(CSIS) Rich Powell, Chief Executive Officer, ClearPath & ClearPath Action Daouda Sembene, Distinguished Nonresident Fellow, CGD and CEO, AfriCatalyst Clips 39:55 Mark Rosen: The IMF is the global lender of last resort to countries that are in economic distress. IMF borrowers usually have a balance of payments problem, are running out of foreign exchange reserves, and so cannot meet their obligations. The IMF negotiates a set of economic policies with the borrower in government to alleviate the crisis, and, conditional on the government implementing the agreed policies, provides a loan in tranches, normally over a three year period. 41:00 Mark Rosen: The biggest challenge the IMF faces today is China which, as we've heard, has lent vast sums to emerging market and low income countries in a non-transparent and irresponsible manner. Many IMF members are now struggling to repay China. 42:05 Mark Rosen: The United States is the largest shareholder in the IMF and has veto power over certain key decisions and it's critical that the US continues to maintain its ownership of more than 15% which enables it to have this veto power. 42:20 Mark Rosen: China for some time, has been pressing for an increased quota share at the IMF. However, given its irresponsible lending, and then willingness to provide debt relief to developing countries, this is not the time to reward China with increased ownership at the Fund. Two other issues I'd like to focus on are anti-corruption and the catalytic role of the private sector in the work of the IMF. Corruption is a severe problem for many emerging market countries, which do not have strong institutions that can confront and root out corruption. The IMF is certainly doing a much better job than it did historically on anti-corruption, but I believe it's critical that it continues to make anti corruption laws and policies front and center in the conditions of its lending programs, as well as a focus of its technical assistance. Only by reducing corruption will many of these countries be able to attract the vast amount of private sector investment which is potentially available and remains the ultimate key to reducing poverty. Establishing a rule of law, including laws to protect private property is key to unlocking this investment. And it should be a focus of the IMF and World Bank to encourage these countries to improve the rule of law and to fight corruption. If they do that, emerging market countries can attract private capital and grow rapidly as many countries that have followed that path have already done so successfully. 44:45 Daniel Runde: Multilateral development banks, MDBs, under US and Western leadership are one way that we can respond with something. The United States built and strengthened the MDB system. MDBs provide money, advice, data and convening power to help developing countries solve problems. If the US exerts its influence over these institutions, they are forced multipliers of a US-led global system. If we disregard our leadership role, then other actors, including China, can exert influence over them. The World Bank Group is a series of institutions: it lends money to national governments, it has a private sector arm, and has an insurance arm. There are a series of other regional development bank's including the InterAmerican Development Bank, the Asian Development Bank -- Taiwan is a member of the Asian Development Bank -- the African Development Bank and the EBRD, the European Bank for Reconstruction Development Bank, focused mainly on countries that used to be behind the Iron Curtain. The United States has been instrumental in creating the majority of these institutions and remains the largest, or one of the largest, shareholders of every afformentioned MDB. Since the founding of these institutions, the US has used its shareholding power to shape the policies and activities of MDBs in indirect support of American foreign policy. 47:10 Daniel Runde: What role does China play in the MDBs? They're a shareholder. China continues to borrow from the World Bank and the Asian Development Bank. That is crazy. That needs to stop. China is a shareholder. Also, Chinese firms can bid on MDB projects. China wins a lot of in terms of dollar value, a lot of the dollar value of World Bank contracts. Something to take a look at. 47:35 Daniel Runde: How does the Belt and Road figure into the MDBs? You all have heard of the Belt and Road. Infrastructure is now a strategic issue. China's Belt and Road Initiative is a combination of construction and financing projects for roads, airports, and energy around the world. Unfortunately for us, BRI is an ambitious project that speaks to the hopes of China's friends and potential friends. To counter the BRI, the US needs a positive alternative that says more than, "Don't work with China." Right? That's not a strategy. We've got to have an alternative. 1:12:50 Rep. Andy Barr (R-KY): How do we end China's eligibility to borrow from the World Bank? Daniel Runde: The Asian Development Bank has said they're going to end their eligibility by 2025. We should absolutely hold them to that. There is a temptation for the World Bank and the Asian Development Bank to continue to loan for a couple of reasons. One is they say, "Well, this is a window into how we can understand China better." There's lots of other ways to understand China better. And or this is a way for us to -- for a bunch of lending reasons that they do it. You all have the power of the purse, you have an ability, I think you should have blunted conversations with the administration about this. I suspect it's an open door, but it's going to require, I think, some pushing from Congress. I would encourage this committee to push the administration on ending lending to China. 1:14:30 Jesse Schreger: So fundamentally right now, the Renminbi is not yet positioned to compete with the US dollar for a number of reasons. First and foremost, the reason that the dollar plays the role it does in the international financial system is it provides the global safe asset. You're confident, except for the upcoming debt ceiling, that you will always be paid back if you own US dollars. That's fundamentally what you know. When you contemplate investing in China and holding Chinese Renminbi as reserves, you're not necessarily sure that you're gonna be able to turn that piece of paper into the goods and services that you need or intervening in FX markets. 1:21:15 Jesse Schreger: First and foremost, what China is trying to do is essentially convince countries around the world that the Renminbi is an alternative asset to invoice your trade and to invest in. And so on the investment side, they've been working very hard to actually allow in foreign capital, encouraging foreign central banks to hold Renminbi denominated bonds as their reserves. And on the trade side, they're encouraging firms to invoice, basically price their goods, in Renminbi. There's a few areas in which they've had challenges there. So first, we actually don't know who are holding most of these Renminbi denominated assets. What you can see is after the US sanctioned Russia back in 2014, it was the Russian Central Bank that effectively announced they were moving out of US dollar denominated assets and into Renminbi, so they did that publicly. And so China has effectively been trying to attract foreign capital of that form and a lot of the reasons for that is that China finds itself vulnerable in the dollar-based financial system. And so what I would say the fundamental area in which the United States can assure the dominance of the dollar is making everyone understand that US Treasuries are the world's safe asset that there is no state of the world in which the United States can or will default. 2:03:25 Jesse Schreger: I think the real way in which people start being able to issue and borrow in Renminbi is when people start thinking in terms of the goods that they need to buy and consume are in Renminbi. Fundamentally, most countries around the world, if they issue a bond in Renminbi, the calculation they have to do is then "okay, I'm going to take my renminbi and convert it into US dollars to buy the thing in which I need." And so while actions in the US financial system are certainly going to affect other countries decisions to borrow in Renminbi, the kind of underlying challenges in Chinese financial markets and fundamentally the lack of goods priced and sold in Renminbi are going to continue to hold back kind of a growth of this market for a while. And in particular, the fact that many countries are reluctant to try to raise money inside of China's liquid onshore capital markets for, effectively, fear of capital controls. If you've raised renminbi in China, you can't get that out and to your projects the way you can if you raise money in the US in dollars. 2:14:55 Daniel Runde: The business model of the World Bank is they lend money to richer countries with a pretty good credit rating and then they cross subsidize that by lending to poor countries with a poor credit rating. My view is, China can finance its own development, we should stop this practice. I think the Asian Development Bank has sort of gotten the memo, but the World Bank has not fully gotten the memo and they'll give you kind of World Bank-y answers to this sort of thing. We got to stop it. Rep. Zach Nunn (R-IA): Mr. Runde, I could not agree with you more. And you highlighted earlier, you know, by 2025, China should graduate from this program. I'd offer that 25 is two years too late. We can start funneling them off that now. Daniel Runde: I agree, sir. Rep. Zach Nunn (R-IA): I think you're in the right spot. Thank you. Music Tired of Being Lied To by David Ippolito (found on Music Alley by mevio) Editing Pro Podcast Solutions Production Assistance Clare Kuntz Balcer Cover photo Eric Prouzet on Unsplash

Rich Zeoli
Debt Ceiling Inaction: Schumer & Biden Refuse to Negotiate with Republicans

Rich Zeoli

Play Episode Listen Later May 5, 2023 183:10


The Rich Zeoli Show- Full Episode (05/04/2023): 3:05pm- Republican Senators are speaking out against the United States Navy's decision to use an enlisted active-duty drag queen to serve as their “digital ambassador.” According to reports, the Navy is seeking to expand the number of enlisted service members. 3:25pm- According to a report from The Washington Post's Jeremy Barr, Fox News has experienced a “significant ratings drop” since firing their prime-time host Tucker Carlson. Barr writes: “Carlson averaged more than 3 million total viewers per night from April 17-21, what turned out to be his final week in that time slot. But in his absence, the network averaged only 1.65 million viewers per night last week.” You can read the full article here: https://www.washingtonpost.com/media/2023/05/01/fox-news-ratings-drop-tucker-carlson/ 3:35pm- Joe Lancaster of Reason writes about a report compiled by Open the Books, documenting federal agencies spending enormous sums of money on weapons annually. Lancaster says, “[t]he report alleges that since 2006, 103 federal agencies not contained within the Department of Defense (DOD) have collectively ‘spent $3.7 billion on guns, ammunition, and military-style equipment'…Of those 103 agencies, 27 are ‘traditional law enforcement [entities] under the Department of Justice (DOJ) and the Department of Homeland Security (DHS).' That leaves 76 agencies—including the Environmental Protection Agency (EPA), Internal Revenue Service (IRS), and the Department of Health and Human Services (HHS)—without a direct law enforcement purview. As the report put it, ‘There are now more federal agents with arrest and firearm authority (200,000) than U.S. Marines (186,000).'” https://reason.com/2023/05/02/why-do-federal-bureaucrats-need-so-much-firepower/ 3:40pm- David DeLugas—Executive Director of Parents USA—joins The Rich Zeoli Show to discuss the maddening story of Melissa Henderson, a mom from Georgia who was bizarrely arrested for allowing her 14-year-old child to babysit. You can read more about the story here: https://www.einpresswire.com/article/623725030/judge-quashes-criminal-charges-against-mom-arrested-for-having-teen-daughter-babysit-siblings. And you can learn more about Parents USA here: https://parentsusa.org 4:05pm- Megan Brock—a grass roots parental rights advocate—joins The Rich Zeoli Show to discuss the Bucks County Government filing several lawsuits against her for simply requesting public records regarding prolonged school shutdowns during the COVID-19 pandemic. Last Friday, a court ruled in her favor and gave Bucks County 10-days to provide the public records she had requested. 4:10pm- While appearing on Fox News with Lawrence Jones, Senator Josh Hawley (R-MO) suggested it may be time for the appointment of a special counsel to handle evidence a whistleblower claims proves then-Vice President Joe Biden was involved in a criminal bribery scheme with a foreign national. 4:20pm- While speaking with Laura Ingraham on Fox News, Texas Governor Greg Abbott responded to complaints from mayors like Lori Lightfoot and Eric Adams regarding illegal migrants being bussed to big-cities—explaining that he allows the migrants to select which cities they want to reside in, provided the city is a self-proclaimed sanctuary city. Meanwhile, White House Press Secretary Karine Jean-Pierre baselessly claimed that the Biden Administration was “firing on all cylinders” when it comes to securing the U.S. Southern border.  4:30pm- New Jersey State Senator Michael Testa Jr. joins The Rich Zeoli Show to discuss the unusual number of whale deaths along the Atlantic Coast—and concerns expressed by environmental experts who believe the substantial increase in deaths could be linked to offshore wind development's usage of sonar to map the ocean's floor. 4:50pm- Speaking on Capitol Hill, Moody's Mark Zandi predicted the United States Treasury will run out of cash on June 8th if the debt ceiling is not raised. Last week, House Republicans passed a bill that would raise the debt ceiling while concurrently putting modest restraints on federal government spending—Senate Majority Leader Chuck Schumer (D-NY) and President Joe Biden have refused to consider the legislation. Is default quickly becoming inevitable? 5:05pm- The Drive at 5: Susan Crabtree—RealClearPolitcs White House & National Political Correspondent—joins The Rich Zeoli Show to discuss Senator Chuck Grassley and Congressman James Comer releasing a joint statement regarding a whistleblower's claims that then-Vice President Joe Biden was involved in a “criminal scheme” with a foreign national. Grassley explained: “We believe the FBI possesses an unclassified internal document that includes very serious and detailed allegations implicating the current President of the United States. What we don't know is what, if anything, the FBI has done to verify these claims or investigate further. The FBI's recent history of botching politically charged investigations demands close congressional oversight.” You can read the full statement: https://www.grassley.senate.gov/news/news-releases/grassley-comer-demand-fbi-record-alleging-criminal-scheme-involving-then-vp-biden 5:15pm- Speaking with Dan Abrams on NewsNation, legal analyst Jeffrey Toobin discussed his infamous CNN Zoom call…YUCK! 5:30pm- Jimmy Failla—stand-up comedian & Fox News Radio host—joins The Rich Zeoli Show to recap last weekend's White House Correspondents' Association Dinner where he had the opportunity to meet the Second Gentleman of the United States: Doug Emhoff! You can hear The Best of Jimmy Failla every Saturday on 1210 WPHT—and make sure to get tickets for his Laughs & Liberty Tour with Kennedy! 5:40pm- An estimated four hundred pounds of pasta were mysteriously dumped in New Jersey's Old Bridge Township—where did it all come from? Police are still investigating. 6:05pm- While speaking on Capitol Hill, Deputy Secretary of the U.S. Department of Energy David Turk was questioned by Senator John Kennedy (R-LA) about the impact the Biden Administration's goal of zero carbon emissions would have on global emissions overall—he could not answer the question definitively. 6:15pm- Following a report from the Wall Street Journal's Khadeeja Safdar and David Benoit, LinkedIn co-founder Reid Hoffman admitted to visiting the private residence of convicted sex offender Jeffrey Epstein. Interestingly, Hoffman has been funding E. Jean Carroll's lawsuit against former President Donald Trump. You can read the Wall Street Journal report here: https://www.wsj.com/articles/jeffrey-epstein-documents-woody-allen-larry-summers-edb3e9b2?mod=us_more_pos1 6:35pm- According to a report from Luke Rosiak of The Daily Wire, “[l]iberal Supreme Court Justice Sonia Sotomayor declined to recuse herself from multiple copyright infringement cases involving book publisher Penguin Random House despite having been paid millions by the firm for her books, making it by far her largest source of income...In 2010, she got a $1.2 million book advance from Knopf Doubleday Group, a part of the conglomerate. In 2012, she reported receiving two advance payments from the publisher totaling $1.9 million.” You can read the full article here: https://www.dailywire.com/news/liberal-scotus-justice-took-3m-from-book-publisher-didnt-recuse-from-its-cases

Rich Zeoli
Hypocrisy: Sanctuary City Mayors Furious Over Migrant Busing

Rich Zeoli

Play Episode Listen Later May 4, 2023 46:59


The Rich Zeoli Show- Hour 2: Megan Brock—a grass roots parental rights advocate—joins The Rich Zeoli Show to discuss the Bucks County Government filing several lawsuits against her for simply requesting public records regarding prolonged school shutdowns during the COVID-19 pandemic. Last Friday, a court ruled in her favor and gave Bucks County 10-days to provide the public records she had requested. While appearing on Fox News with Lawrence Jones, Senator Josh Hawley (R-MO) suggested it may be time for the appointment of a special counsel to handle evidence a whistleblower claims proves then-Vice President Joe Biden was involved in a criminal bribery scheme with a foreign national. While speaking with Laura Ingraham on Fox News, Texas Governor Greg Abbott responded to complaints from mayors like Lori Lightfoot and Eric Adams regarding illegal migrants being bussed to big-cities—explaining that he allows the migrants to select which cities they want to reside in, provided the city is a self-proclaimed sanctuary city. Meanwhile, White House Press Secretary Karine Jean-Pierre baselessly claimed that the Biden Administration was “firing on all cylinders” when it comes to securing the U.S. Southern border. New Jersey State Senator Michael Testa Jr. joins The Rich Zeoli Show to discuss the unusual number of whale deaths along the Atlantic Coast—and concerns expressed by environmental experts who believe the substantial increase in deaths could be linked to offshore wind development's usage of sonar to map the ocean's floor. Speaking on Capitol Hill, Moody's Mark Zandi predicted the United States Treasury will run out of cash on June 8th if the debt ceiling is not raised. Last week, House Republicans passed a bill that would raise the debt ceiling while concurrently putting modest restraints on federal government spending—Senate Majority Leader Chuck Schumer (D-NY) and President Joe Biden have refused to consider the legislation. Is default quickly becoming inevitable?

Wisdom-Trek ©
Day 2129 – James – Wisdom is Faith in Action 11 – Warnings To The Wealthy – Daily Wisdom

Wisdom-Trek ©

Play Episode Listen Later Apr 4, 2023 29:37 Transcription Available


Welcome to Day 2129 of Wisdom-Trek, and thank you for joining me. This is Guthrie Chamberlain, Your Guide to Wisdom James – Wisdom is Faith in Action 11 – Warnings To The Wealthy – Daily Wisdom Putnam Church message – 11/21/2021 James: Wisdom is Faith In Action – Warnings To The Wealthy We are continuing our series today on the Proverbs of the New Testament, better known as the letter of James.  Last week we focused on The Perils of Playing God, covering Warnings against Judging Others and Warnings About Self-Confidence. Today while we are focused on Thanksgiving, we will explore Warnings to the Wealthy and learn why wealth should not be our primary source of Thankfulness.  So join me on pages 1884-5 in the pew bibles as I read the Scripture for today. I would recommend keeping this passage open as we go throughout the message today: James 5:1-6 Now listen, you rich people, weep and wail because of the misery that is coming on you. Your wealth has rotted, and moths have eaten your clothes. Your gold and silver are corroded. Their corrosion will testify against you and eat your flesh like fire. You have hoarded wealth in the last days.  Look! The wages you failed to pay the workers who mowed your fields are crying out against you. The cries of the harvesters have reached the ears of the Lord Almighty.  You have lived on earth in luxury and self-indulgence. You have fattened yourselves in the day of slaughter.  You have condemned and murdered the innocent one, who was not opposing you. Let me take you back about 100 years.  In 1923, an elite group of businessmen met at the luxurious Edgewater Beach Hotel in Chicago. The roster included some of the early twentieth century's most influential, famous, and wealthy moguls. These men were among them: Charles M. Schwab—president of Bethlehem Steel Corporation Richard Whitney—president of the New York Stock Exchange Albert Fall—Secretary of the Interior under President Harding Jesse Livermore—Wall Street tycoon Ivar Kreuger—head of a global monopoly of match manufacturers These heavy hitters controlled more wealth than the total assets of the United States Treasury at the time. Indeed these men would become models of the entrepreneurial spirit and stellar examples of financial success. But fast-forward about twenty-five years or so and look back on the courses of their lives: Schwab—died $300,000 in debt in 1939 (nearly 6 million in today's money) Whitney—served time at Sing Sing prison for embezzlement Fall—served time for misconduct in office, leaving behind a ruined reputation Livermore—committed suicide in 1940, describing himself as “a failure.” Kreuger—shot himself in 1932 after his global monopoly collapsed! Buried beneath the rubble of humiliation, defeat, crime, sickness, and financial collapse, these men—along with a number of their colleagues—died in a painful, pathetic condition. Their wealth, power, and prestige did nothing to soothe the personal anxiety and guilt they suffered in life. The reality is that great intelligence and hard work can make a person wealthy. But it takes God-given wisdom and supernatural humility to manage wealth and influence. Last week James warned us against playing God instead of submitting to God's sovereignty...

Financial Planning for Entrepreneurs and Tech Professionals
Silicon Valley Bank

Financial Planning for Entrepreneurs and Tech Professionals

Play Episode Listen Later Mar 21, 2023 20:37 Transcription Available


A smart man learns from his mistakes, a wise man learns from the mistakes of others.Many of my clients are in the tech space and thus affected (at least emotionally) by SVB's failure in early March. On this week's podcast I will give you the wisdom gleaned from the downfall of the bank that was not too big to fail. I break it down into three parts:What does the collapse of SVB mean for me? First, single stocks are very risky. Use low cost index funds to reduce the risk of having all your eggs in one basket.Second, go government. Don't leave your cash sitting in a bank. Invest the cash you don't use on the regular in a government money market fund. Why? Because it is fully backed by the United States Treasury. Lasty, be aware of who you are doing business with. Who is the producer of the financial products you use? Are they credible? What risk is associated with their brand?Why did SVB fail? Banks are a business. They offer products to consumers, in the form of accounts and returns. SVB used its clients' deposits to invest in other businesses and the market at large, resulting in profits for both the bank and its depositors. Until those investments took a dive. Suddenly, clients want their money back but the bank doesn't have it to return.Long-term bonds: The Golden EggWhen you buy a bond you get two things over a set period of time: an interest payment each year and the return of your principal at the end of the time period. So, here is an example of how bonds lose value:Say that you buy a 10-year golden egg for $10k that pays you $100 per year in interest for 10 years, then you get your $10k back.Three years later, the government raises interest rates, and a new platinum egg is released. That egg will pay you $400 in interest over ten years. Suddenly your golden egg is now only worth $9k because everyone would rather have the platinum egg.This is what happened to the 2019 10-year US Bond that SVB bought 3 years ago. It is still paying 1% ($100 per year) but is only worth $9k today. So, if SVB is forced to sell that bond today to pay back a customer, it only has $9k to give back to the customer!Tune in to hear more about the lessons that should be learned from SVB's collapse. And if you were affected by the bank's demise and have questions or just want to chat, reach out!Learn more about Mike and my services at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/Are you ready to create your ideal lifestyle? Let's Connect.

Red Pill Revolution
Capitalism on Trial: The Federal Reserve, Fractional Banking, and the Silicon Valley Bank Collapse

Red Pill Revolution

Play Episode Listen Later Mar 16, 2023 63:45


Welcome to the Adams Archive, where the unspoken truths of society are uncovered and explored with passion and precision. Host Austin Adams dives deep into controversial topics that will make you question the very fabric of our world. In this groundbreaking episode, Austin investigates the American banking system and its unnerving implications for the future of the nation. Delve into the intricacies of fractional banking and discover how this seemingly innocuous concept has evolved into a far more sinister reality. Austin takes listeners on an intellectual journey that starts with the collapse of Silicon Valley Bank and leads to an examination of the Federal Reserve. With the aid of Edward Griffin's "The Creature from Jekyll Island," the podcast unravels the complex history and mechanisms behind modern banking practices that affect every aspect of our lives. As Austin navigates this labyrinth of information, he pursues an interview with Griffin himself to provide even greater insight into the hidden world of banking. If you're ready for a mind-blowing exploration of the financial system and its consequences, join Austin Adams in the Adams Archive for this eye-opening episode. Subscribe, leave a five-star review, and share your thoughts on this crucial issue. Find additional resources, articles, and videos at austinadams.subs.com, and prepare to have your perspective transformed. The Adams Archive is more than just a podcast; it's an invitation to challenge the status quo and uncover the astonishing truth about the world around us. Join the substack, follow our social media and more at https://linktr.ee/theaustinjadams   Full Transcription:  Hello, you bu to full people. My name is Austin Adams, and welcome to the Adams Archive. Today's episode is going to absolutely blow your mind. I have been diving deep into this topic over the past several, several days, and I can tell you I have never been more concerned for the future of America as I am now. Now, this is not about trafficking. This is not about politicians. This is not about, this is about the American banking system. Okay? Now, that may not sound very enticing to you, but once we get into this topic to the depths that we are going to today, You're gonna realize what I'm talking about. Okay. Now, what prompted this for me was looking into the Silicon Valley Bank collapsing. Okay? Now, that prompted me to figure out what the hell fractional banking is Figuring out fractional banking led me to realize that that is no longer the concept that we operate off of. No matter how scary fractional banking itself is, what we have today is even worse. Now. That drove me down a rabbit hole to figure out how we got to a point where fractional banking was even possible, which led me to learn all about the Federal Reserve, to learn about the Federal Reserve. There was a book that was written, and we will go over some of the highlights called The Creature from Jekyll Island. . Okay, now, that book beautifully written, um, there's some really good, uh, really, really good, uh, lectures online by, uh, Edward Griffin, and I'm gonna see if I can get him on the podcast. I messaged him today to see if, uh, maybe he can come on here and explain these things a little bit better than I can. But he's very, very brilliant. You should go listen to these lectures. They'll be included in the ck All right. If you're not in the CK already, go to austin adams.subs.com. You can sign up, you'll get all the articles, all the videos, all of the ish that we are talking about here today. All right. So without further a. Well maybe wanna do subscribe? , leave a five star review. All right. Tell me what you like about the podcast. Tell me what you learned about, uh, fractional banking, which again, doesn't sound very enticing, but promise you after you figure out everything that I figured out, your mind's gonna be blown. All right, so without further ado, let's jump into. The Adams Archive, the very first subject to today's podcast is going to be on the collapse of S V B. Okay, now, SVB is the Silicon Valley Bank. Silicon Valley Bank, obviously located in Silicon Valley, basically sent shockwaves through the entire tech industry. And that was right about a week ago, right? A few, not even a few days ago. All right. Through Wall Street, through Washington, everybody was shocked by what happens. Regulators have since shut down the bank to prevent a crisis in the broader banking system. Just days after another bank, signature bank was abruptly closed as well. Silicon Valley Bank, which provided banking services to nearly half of the country's venture capital backed technology and life science companies made this very the same mistake as many other banks. It invested most of its deposits in long-term debt like treasury bonds, promising steady, modest returns. However, the strategy proved shortsighted when the Federal Reserve looking to combat rapid inflation, started raising interest rates, making these once safe investments, far less attractive. All right. Silicon Valley Bank was also el uh, uniquely vulnerable due to its business being concentrated in the tech industry, which was experiencing a rapid decline in startup funding. As a result, its clients started to withdraw their money, and once some people started drawing their money, other people started withdrawing their money causing what they call a bank run. All right, now a bank run, so you have some terminology behind this. A bank run is basically when everybody starts to go line up outside of the banks, asking banks to give them the very money that they worked so hard for, the very money that they sweat bled, worked their asses off weekends over time to feed their children. Okay? And we'll learn about that fractional banking, which some of this has already alluded to already, which is terrifying, like I said. Okay, so now the collapse of Silicon Bank is the largest, since the 2008 financial crisis, the very largest bank to do so since. , which again, is only gonna get worse as people realize that our banking system is built on a house of cards. Just a little whistle in the wind will cause our entire financial system to collapse. All right, we're gonna talk about today some things like what is money, right? Why is it even hold value? Which is probably the most fundamental question that has one of the most concerning answers. Um, as you've noticed recently, I've been using the AI chatbot chat. G p T pretty consistently came out with their fourth generation of it today. Um, it's pretty incredible technology, but it helped me along the way doing some of these calculations to actually figure out what it would cause for the American financial system to collapse. And that's some of the things that we're gonna discuss here today. I'll go through those calculations with you. All right. It highlights the dangers of fractional reserve banking. When banks invest most of their deposits, they create more money than they hold in reserves, leading to a precarious situation where a loss of faith in the bank can trigger a run on deposits. In such cases, the bank makes gains privately, but losses are socially distributed. That's what you have to realize about this. When a bank is doing well, they profit ungodly amounts of money. When things aren't going well for a bank, you know who foots the bill? You and me, the American public foots the bill when they get bailed out by our government. So things are going great. They profit, you'll make a dollar. Well, maybe you make, you know, 2 cents off of every a hundred dollars that you have in your bank account based on interest. But when things are going great for the banks, they're not coming to you to pay you out dividends, right? But when things are going horribly bad,  and the government decides to bail them out. You know who pays that bill? And we don't even really pay it. And that's what I've realized from learning all of this. We don't even really pay it. We pay it through inflation. We pay it through the fictitious magical creation of money, which has no value unless we decide that it does again, which we'll talk about in a minute. So fractional Reserve banking to me is theft. It is a entity taking your money and putting it in as many places as possible so that they can continue to make money. They can give out loans with it. They can do all of these things, but the second you come ask for your money, while you and maybe your neighbor and a few other people at the same time, they don't have it. Cuz it's often these fictitious little places that they're hoping to make interest based on the fact that you're never gonna come ask them for it. At the same time. Right before the Great Depression, the US dollar was backed by gold. That ensured that the money in the economy was backed by something physical, something tangible, right? When something is backed by something, a commodity like gold or silver, right? Or even Bitcoin, right? If you understand how this works, right, the, the way that gold is created, gold is a, gold is a specific element that is created. And forgive me, I'm not a damn science teacher over here. Got a beer in my Yeti. So the way that gold is created is the earth puts together certain amounts of carbon. And when you get the perfect alignment of these, these elements, right? It creates what we know today is gold, right? Not fool's gold. Not all these other renditions of this potential possibility, but actual physical gold as we know it today, is a specific type of gold. Okay. Now that gold is minted, right? The, the earth had to have all of these situations happen simultaneously and in the proper way perfectly to cause gold to be created and to be in your hand the way that it can be today. Okay? That's what happens, right? The, the, the earth has a mathematical equation of circumstances and pressure and whatever the hell else it is, and then gold is physically created and minted by the earth. Okay? Something like, think of it, if you know anything about cryptocurrency, think of it like Bitcoin, right? Bitcoin ha has a computer that is working nonstop to create a bunch of algorithms and calculations to try to decrypt a or or mine a Bitcoin, the same way you mine gold. And eventually, after so many algorithms, so many computers are working to do this, one unlocks a Bitcoin and that creates scarcity. There's only a certain amount of bitcoins that are being created on a general basis. There's only a certain amount of gold that is being. By the earth at any given time, that scarcity gives it value, right? So during the Great Depression, our money was backed by gold. After the depression, the US abandoned the gold standard and became a fiat system. Okay? Fiat currency is not backed by anything at all. No assets, no commodities, right? And the fact that Silicon Valley Bank had basically uninsured depositors highlights the need for money to be backed by something physical like gold. And that ensures that depositors money is protected. It is being held physically somewhere to show that that piece of paper that you have is attached to a certain amount of, of physical minted developed by the earth gold or even Bitcoin, right? It has some sort of, of, of, uh, built-in scarcity.  that drives value, right? There's not, there's not an unlimited amount that can be created at the whim of any American who wants to profit based off the central banking system, which again, we'll learn more about in a minute. We're gonna learn a lot today. Um, the collapse of Silicon Valley Bank and Signature Bank underscores the need for tighter banking regulations, right? We've seen several, several things that have happened, right? Like, um, some regulations that were rolled back in 2018 under Donald Trump, right? Some banking experts believed that Dodd-Frank Financial regulatory package intended to prevent such collapses and could have stopped this bank from handling its interest rate risks, um, had it not been rolled back, which is some opinions, but the bigger problem, the biggest issue. When we talk about fractional banking, which again, I'll pull up here. Let, I'll, I'll talk you through it. Lemme just go through this article with you. The collapse of these banks that says has prompted a swift reevaluation of the Fed's interest rate increases. On Monday. Smaller banks rushed to en reassure customers that they were on firmer financial footing, but shares of US regional banks plummeted. The b W Bank Index, which tracks the performance of 24 major banks, fell 10%, erasing nearly 200 billion of value of the banks. In the index, it says, the collapse of Silicon Valley Bank in Signature Bank highlights the dangers of fractional reserve banking and the need for money to be backed by something physical. The follow of these collapses underscores the need for tighter banking regulations to prevent such collapses and ensure the stability of the financial system. Okay, let's talk about it. What is fractional banking? Okay. Fractional banking was the cause of what happened with svb. Right. What is fractional banking? Fractional banking is the idea that if you deposit a hundred dollars into a bank, the bank can take $90 of that 100. Hold onto the remaining 10, which was the standard prior to 2020. The standard prior to 2020 was that the banking system had to hold 10% of the overall val value in reserves. Now, that changed, but even with 10%, think of it this way, if you handed the, gave the bank 10 a hundred dollars, right? Let's say 10 people gave the bank a hundred dollars, right? They gave out 900 of that thousand dollars. Of the 10 people's a hundred dollars, which leaves them with one $100 bill. The other 900 they gave away to other people in the hopes of making interest in the future. So when two people, just two people go to the bank at the same time and say, I want my a hundred dollars. give me all of my $100 that I gave you. That is $200 that they're asking for. One of those people is not getting any of their money, or at least both of them are getting half of it. They don't have it. They don't even have it for two people, let alone the full 10 people that gave 'em a hundred dollars. Right? If just two people went and asked the bank for this money back, they would not be able to do it, right? 20% in this case. Now what we realize, it is far, far worse than that. In the real world scenario. What we realize, excuse me. What we realized is that in 2020 it was changed from 10%. Just 10% of the money in your banks had to be held onto by the, by the reserves, by the bank, just 10%. In 2020. During Covid, they changed that percentage. To 0%. None of it did they have to hold onto none of it in reserves. 0%. Not 1%, not 2%. 0% of your money has to be held by the bank in reserves. 0%. That is astonishing. There is no federal regulations at all now that say that the bank has to hold any of your money for withdraws. Right. What they are dependent on is if everything collapses, then the F D I C, the Federal Something Insurance Commission, will basically has insured each each value of each customer up to $250,000, which again, we'll find out, is a complete farce. What a terrible word. Farce is a terrible word. It's like, I don't even like to say it. It's like saying fart farce. I don't know. Anyways, FARs is a complete, FARs is bullshit. There's nothing there for you to take in. So, so when two of those people in that scenario that I gave you, go to the bank and ask for their money back, and somebody's going to walk away with no money, so, so one person gets their a hundred dollars out, the second person goes and asks for 10 of it, just 10 of it. Now that person realizes that the bank does not have their money. They start talking to their friends, you know who their friends are. The other eight people in this scenario who gave the bank a hundred dollars. Now you have all other eight people, nine people in total going to the bank saying, I want my money back. But the bank has none of it. They don't have to hold onto any of it. And the scenario is actually far worse than that in today's world. After 2020 and that legislation changed. The scenario is now anybody goes to the bank and starts to ask them for that money back. They don't have to hold onto any of it. That my friends is fractional banking. And it scares the shit outta me, and it's not even fractional anymore. There's no fraction. The fraction's gone. It's fictitious banking. That's what it is. It's no longer even fractional, which was horrible. It's far, far worse. Okay. Do you wanna know how fragile our entire banking system is here in the United States? Here is the most terrifying thing that you will hear today. Okay. Chat, G P t concluded that if 2% of Americans, 2% of Americans decided to withdraw their money from the bank, at the same time, it could have a high potential of causing a collapse of the entire banking system that as we know it today, the entire banking system as we know it today, just 2%, two out of a hundred people, two out of a hundred people went to their bank right now. This concluded and calculated. The entire banking system could collapse. So again, it's far worse than that scenario that I gave you and let me walk you through how it got to that. Okay. Chat. G p T said we can try to make a rough estimation based on some data points. Okay. Now I had to do some finagling to give, actually give me this cuz I didn't wanna gimme this answer. It says, first it's essential to understand that the reserve requirement being 0% means that banks are not required to hold a specific percentage of their deposits as reserved. However, it doesn't mean the banks hold no reserves at all, right? They still maintain some reserves. Doesn't give you an amount cause it can't, to manage day-to-day transactions and withdrawals day to day, not week to week, not month to month, day-to-day. The amount of their reserves varies by bank. It depends on the bank size, number of clients, and other factors. To estimate the percentage of people required to cause a nationwide banking collapse, we need to consider the amount of money held in deposits and the amount of reserves held by banks. According to the Federal Reserve, as of September, 2021, the total amount of money in the deposits in the US banks was around 17 trillion. Okay. Assuming that these banks still maintain some reserves, assuming that they maintain some reserves, it says, let's calculate, based on 2% of their deposits are held as reserves. This would amount to approximately 342 billion in reserves. If depositors were to withdraw their money in such a way that bank reserves were insufficient to cover the withdrawals, it could potentially trigger a banking collapse, right? That's the other eight people, nine people going to the bank and saying, I want my money, because the other, the second person went there to ask for it, and it wasn't there to find the percentage of people who would neither withdraw their funds to cause a banking collapse. We can use the following formula. Reserves divided by deposits times 100 equals the percentage of people. Okay, so we take that 342 billion, right of the 2% seven. Divide that by the 17.1 trillion. Multiply that by 100, it gives you 2%. It says, based on this rough estimation, if around 2% of people in the United States simultaneously withdrew their their money from the banks, it could potentially cause a nationwide banking collapse. Says, however, this is a highly simplified calculation. Does not take into account many factors such as the variation in reserve levels among the banks, the distribution of deposits, and the possibility of banks borrowing money from other sources to cover withdrawals. Additionally, the Federal Reserve Act as a lender of last resort and can provide emergency funds to banks facing a liquidity prices which could prevent a collapse. Okay? Now what it goes on to say is that in summary, it's difficult to provide a precise percentage of people required to cause a nationwide banking collapse due to 0% fractional reserve requirements. However, based on this rough estimation of 2% of people with through their funds, it could cause a banking crisis. Um, it says that reme to remember that the Federal Reserve could intervene to prevent a collapse. Oh, don't, don't worry about anything. The Federal Reserve is here to save you. It's not gonna collapse when the Federal Reserve is here. What is the government's got our back. Hmm. Is the Federal Reserve a part of the government? No, it is not. It's a mixture being overseen in some way, shape, or form by Congress. But we even find out that that's not true. But it was, and you can read all about this in the Creature from JE Island, but we're gonna get into it now. Okay. The Federal Reserve has absolutely nothing, was not founded by the government. You want to know who the, the Federal Reserve was founded by? The Federal Reserve was founded by bankers, the very bankers that you know the name of, and you can probably take a guess as to who people from the Rockefeller family. Aldrich family, JP Morgan Chase. Seven men secretly met on an island in Georgia, concealing their identities, changing their names. They met on a private train cart to discuss how they were going to essentially take over the world's banking systems, starting with the United States. These seven men's wealth, seven men's wealth equated to one fourth of the Total World's wealth at the time, and all they wanted to do was figure out how they could take over the other three fourths. It's pretty simple. When you get seven guys in the room, why wouldn't you do that? Right? So let's unmask the architects of the Federal Reserve. And talk about why every single American should be outraged at this historical account. And here it is. As you go about your daily life, there's a creature lurking behind the scenes polling the strings of our economy. This seemingly innocuous entity is none other than the Federal Reserve and its origin story is as chilling as any horror tale when you realize the truth In the eye-opening book, the Creature from Jekyll Island by Edward Griffin, it unveils the clandestine beginnings of the Fed in the dangers it poses to our society. The secret birth of the Federal Reserve in 1910, a group of influential bankers in 1910 and politicians gathered in secrecy on JE Island in Georgia to hatch a plan that would forever change the course of American history. Their mission. To create a centralized banking system that would benefit their own, their own interests, while consolidating power and control over the nation's finances. This figurative meeting laid the groundwork for the creation of the Federal Reserve. In 1913, our entire structural financial system was built less than 111 years ago. An institution that now, now holds immense power and sway over our economy basically dictates all of it. The key architects or the Federal Reserve were no ordinary individuals. They were powerful cabal of bankers and politicians, including Paul Warberg, Nelson Aldrich, JP Morgan, among others. Their goal was to establish a banking cartel that would protect their interests while simultaneously controlling the country's monetary policy. By doing so, they could manipulate the economy to their advantage. Profiting from booms and bus while leaving ordinary Americans to bear the consequences. The Federal Reserve's very existence poses a threat to our society. Its power to  create money out of thin air and manipulate interest rates, allows it to control the value of our currency, often leading to inflation and devaluation. Moreover, the Fed's unelected the Fed's unelected officials operate with minimal transparency, making decisions that affect millions and millions of people without any public oversight whatsoever. Furthermore, the Federal Reserve's ability to bail out large financial institutions in times of crisis promotes moral hazard. Big banks take on excessive risks knowing that the Federal Reserve will rescue them if things go south, which is exactly what we saw happened with S V B. This reckless. This reckless behavior can lead to financial crisises with ordinary citizens left to foot the bill, which is exactly what I talked about earlier, right? When they can create money out of thin air, it's not out of thin air, it's out of future comfortability for the American people. It causes inflation, and that's where we're gonna see the result when they created trillions of dollars during covid so that they could pay people not to work, so they could shut down the economy for their own agenda to cause you to get vaccinated so Pfizer could profit off of it. Now, the Federal Reserve born from a secretive gathering of powerful elites wields enormous power over our economy. Its actions can lead to inflation, devaluation, financial crisises, all while operating with minimal transparency. It says, as Americans, we must be aware of the Fed's origins and inherent risk opposes to our society. We should demand greater transparency, oversight, de, and democratic control over this powerful institution. It's time for us to stand up and fight against the creature that has taken a hold of our economy before it's too late. And I personally believe that it might already be too late. Okay. It is so crazy to see how this came together and what, what this entire financial system is built on. Like I said, it's a house of cards. Okay. Let's go ahead and let's watch a little bit of this clip. And this is by the author  

Today's Tax Talk with Attorney Steven Leahy

Wednesday December 14, 2022 – Remember last year when Pro Publica revealed the confidential tax information of some of the wealthiest Americans? Remember how the IRS pledged to “get to the bottom” of the crime and expose those who violated the law. Well, that never happened. Those criminals are still at large, and probably still working for the IRS. One of those Wealthy Americans is Ken Griffin, CEO of Citadel. Mr. Griffin has given up waiting for action from the IRS, he filed a federal lawsuit naming the Internal Revenue Service and the United States Treasury as defendants. The Complaint alleges the IRS violated its “legal obligations to safeguard and protect his information from unauthorized disclosure,” and willfully and intentionally failing to “establish appropriate administrative, technical or physical safeguards” Further, the complaint states “IRS personnel exploited the IRS's willful failure to establish adequate administrative, technical, and physical safeguards for the IRS's data and records systems to misappropriate confidential tax return information for the highest earning U.S. taxpayers, including Mr. Griffin, and then unlawfully disclosed those materials to ProPublica for publication.” Attorney Steven A. Leahy reviews this story on Today's Tax Talk. https://www.chicagotribune.com/news/breaking/ct-ken-griffin-irs-tax-lawsuit-20221214-grpig6lzonegtgxuzi6flw7cbe-story.html https://www.usatoday.com/story/money/2022/12/14/ken-griffin-sues-irs-leak-propublica/10894958002/ https://www.cnbc.com/2022/12/13/billionaire-ken-griffin-sues-irs-over-tax-disclosure.html --- Send in a voice message: https://anchor.fm/steven-leahy1/message

The Heresy Financial Podcast
Japan Just Kicked Off Global Treasury Dump

The Heresy Financial Podcast

Play Episode Listen Later Sep 25, 2022 10:57


It's happening... maybe. Japan might have just started the global treasury liquidation. We've been talking a little bit on this channel recently about how the United States Treasury is the foundation of the entire global financial system. But what happens when you build your house on a foundation of sand? Eventually, the house comes crumbling down, and the way that starts in the financial system is by the world getting rid of Treasurys. Japan has historically been one of the largest treasury holders. They have not been buying them recently. And now, because of the problems with their currency, they've intervened to stop the collapse of their currency. And they may have just started at the beginning of the end of the current global financial system.

The Heresy Financial Podcast
Treasury Market Freezing Up is The Next Black Swan Event

The Heresy Financial Podcast

Play Episode Listen Later Sep 20, 2022 9:58


The United States Treasury market is supposed to be the most liquid in the world. The Treasury is supposed to be the most stable financial instrument available around the globe. Yet the next black swan event could very easily be the US Treasury going, no bid. Liquidity in the bond market could dry up so severely that there are no more buyers at any price for United States Treasuries.

Today's Tax Talk with Attorney Steven Leahy
Yellen: IRS Problems Solved - United States Treasury Secretary Janet Yellen Speaking at an IRS facility in New Carrollton, Maryland, said "the funding will help to improve the IRS

Today's Tax Talk with Attorney Steven Leahy

Play Episode Listen Later Sep 16, 2022 20:37


Thursday September 15, 2022 - United States Treasury Secretary Janet Yellen Speaking at an IRS facility in New Carrollton, Maryland, said "the funding will help to improve the IRS in the form of better technology and taxpayer services, and stronger enforcement focused on wealthy Americans and corporations." Yellon also said "Importantly, I've directed that enforcement resources will not be used to raise audit rates for households making under $400,000 a year relative to historical levels," Republicans in Congress have prosposed legislation that would prevent the IRS from using any of the Inflation Reduction Act money to audit taxpayers who earn less than $400,000 annually. Good luck. Attorney Steven A. Leahy critiques Secretary Yellon's announcements about how the IRS will use the $80 Billion windfall on Today's Tax Talk. https://thehill.com/policy/finance/3644613-yellen-hails-text-message-tax-filing-in-speech-to-irs/ https://www.cnbc.com/2022/08/26/op-ed-the-irs-just-isnt-prepared-for-the-inflation-reduction-act.html https://www.foxbusiness.com/economy/yellen-outlines-planned-changes-irs-80b-overhaul https://taxfoundation.org/inflation-reduction-act-irs-funding/ https://www.foxnews.com/us/senate-republicans-protect-americans-earning-less-than-400k-irs-audits --- Send in a voice message: https://anchor.fm/steven-leahy1/message

The Heresy Financial Podcast
The War on Crypto has Begun

The Heresy Financial Podcast

Play Episode Listen Later Aug 19, 2022 15:41


The war on crypto currency has begun! Over the last few months, the United States government has been ramping up its efforts to crack down on crypto currencies. We've seen debates start on who should be regulating crypto currencies: the SEC, or the CFTC. We've also seen the arresting of employees in the NFT marketplaces, like Nathaniel Chastain, for insider trading. And most recently, the United States Treasury sanctioned tornado cash. So why are they doing this, and why now? If you stick with me, I promise you will not like the end (where the government is going with this attack).

Stress Free You
Earn 9.62% on Your Money from the US Government

Stress Free You

Play Episode Listen Later Aug 16, 2022 1:22


The United States Treasury offers an I Savings Bond that is pegged to the inflation rate. This investment may help you deal with the high costs associated with the higher prices we have all been paying. Visit https://www.treasurydirect.gov/ for more information. Disclaimer I am not a Financial Advisor, and this is not financial advice.

The Intersection with Jack Wright
China: The Hon. Joe Hockey & Fmr. Deputy Asst. Secretary US Treasury Bob Dohner

The Intersection with Jack Wright

Play Episode Listen Later Jul 14, 2022 102:07


Discussions on Chinese incrementalism in Asia with the Hon. Joe Hockey, former Australian Ambassador to the United States and Australian Treasurer, and Bob Dohner, former Deputy Assistant Secretary of the United States Treasury.

The Crypto Conversation
TRM Labs - Next-generation blockchain intelligence

The Crypto Conversation

Play Episode Listen Later Jul 11, 2022 45:46


Ari Redbord is Head of Legal and Government Affairs at TRM Labs, the blockchain intelligence company. Ari was previously the Senior Advisor to the Deputy Secretary and the Undersecretary for Terrorism and Financial Intelligence at the United States Treasury.   Why you should listen   To build a safer financial system, TRM Labs developed the first blockchain intelligence platform that combines cross-chain data with threat intelligence, advanced analytics, and intuitive visualizations to help organizations detect crypto fraud and financial crime. Fast-growing cryptocurrency businesses like Circle, FTX US and MoonPay use TRM Transaction Monitoring to detect suspicious activity and meet Anti-Money Laundering (AML) regulatory requirements.  Supporting links Nootopia TRM Labs Andy on Twitter  Brave New Coin on Twitter Brave New Coin   If you enjoyed the show please subscribe to the Crypto Conversation and give us a 5-star rating and a positive review in whatever podcast app you are using.

Today's Tax Talk with Attorney Steven Leahy
IRS Under Siege! Says Yellen - United .States Treasury Secretary Janet Yellen appeared at a Senate Hearing on Tuesday and said "The IRS is under siege. It is suffering from huge underinvestment,"

Today's Tax Talk with Attorney Steven Leahy

Play Episode Listen Later Jun 9, 2022 14:38


Wednesday June 8, 2022 - United .States Treasury Secretary Janet Yellen appeared at a Senate Hearing on Tuesday and said "The IRS is under siege. It is suffering from huge underinvestment," She, again, urged Congress to pass the Build Back Better Bill, or at least that portion that funds the IRS with an additional $80 billion over 10 years. That legislation would nearly double the IRS Budget and more than double the number of IRS employees. Approving Treasury's budget request would allow the IRS "to be able to ... make sure that people are paying the taxes that are due. Attorney Steven A. Leahy reports on this important story on Today's Tax Talk. https://youtu.be/8sinW9P9Hok?t=7199 https://www.yahoo.com/video/yellen-says-irs-under-siege-184329459.html --- Send in a voice message: https://anchor.fm/steven-leahy1/message

Talking Beats with Daniel Lelchuk
Ep. 133: Lincoln and the Financing of the Civil War

Talking Beats with Daniel Lelchuk

Play Episode Listen Later Mar 29, 2022 45:40


“Lincoln was wise and humble. He didn't lecture or harangue—he was pragmatic, opportunistic. The quality we lack today was his humility.” Roger Lowenstein joins the podcast. The admired financial writer is out with the book Ways and Means: Lincoln and His Cabinet and the Financing of the Civil War. It tells the largely untold story of how the North and the South handled the finances of the Civil War—and the drastically different routes they took. Upon his election to the presidency, Abraham Lincoln inherited a country in crisis. Even before the Confederacy's secession, the United States Treasury had run out of money. The government had no authority to raise taxes, no federal bank, no currency. But amid unprecedented troubles Lincoln saw opportunity—the chance to legislate in the centralizing spirit of the “more perfect union” that had first drawn him to politics. With Lincoln at the helm, the United States would now govern “for” its people: it would enact laws, establish a currency, raise armies, underwrite transportation and higher education, assist farmers, and impose taxes for them. If you like what we do, please support the show. By making a one-time or recurring donation, you will contribute to us being able to present the highest quality substantive, long-form interviews with the world's most compelling people. Roger Lowenstein reported for The Wall Street Journal for more than a decade. His work has appeared in The Wall Street Journal, Bloomberg, The New York Times, the Washington Post, Fortune, Atlantic, the New York Review of Books, and other publications. His books include the NYT bestsellers Buffett, When Genius Failed, and The End of Wall Street, and the critically acclaimed Origins of the Crash, While America Aged, and America's Bank. He has three children and lives with his wife, Judy Slovin, in Cambridge, Massachusetts and Tenants Harbor, Maine.

Money on the Left
The ECASH Act with Rohan Grey

Money on the Left

Play Episode Listen Later Mar 28, 2022 47:26


In this special episode, Rohan Grey (@rohangrey) joins Billy Saas  (@billysaas)  and Maxximilian Seijo  (@MaxSeijo) to discuss the "ECASH" or "Electronic Currency and Secure Hardware" Act. Introduced by Rep. Stephen Lynch (MA-08), Chair of the House Committee on Financial Services' Task Force on Financial Technology, and based on Grey's research on electronic currency, the ECASH Act directs the Secretary of the Treasury to develop and pilot digital dollar technologies that replicate the privacy-respecting features of physical cash. Recognizing the United States Treasury as an institution ideally suited to managing a digital U.S. dollar, the Act treats monetary inclusion and privacy as a political rights and public goods, while at the same time eschewing the exclusionary and ecologically destructive effects of crypto currencies that rely on blockchain technologies.    The ECASH Act is co-sponsored by Rep.'s Jesús G. “Chuy” García (IL-04), Rashida Tlaib (MI-13), Ayanna Pressley (MA-07), and Alma Adams (NC-12) of the Committee on Financial Services, and endorsed by Americans for Financial Reform, Demand Progress, the Action Center on Race and the Economy (ACRE), and Public Money Action.Rohan Grey is Assistant Professor of Law in the College of Law at Willamette University.Full text of the E-CASH BillE-CASH websiteVisit our Patreon page here: https://www.patreon.com/MoLsuperstructureMusic by Nahneen Kula: www.nahneenkula.com

Bitcoin Bottom Line
26 The Impact of Biden's Executive Order On Crypto

Bitcoin Bottom Line

Play Episode Listen Later Mar 17, 2022 33:08


On this episode of “Bitcoin Bottom Line,” hosts Steven McClurg and C.J. Wilson are joined by Josh Olszewics from Valkyrie. They open by discussing the new crypto executive order. Bitcoiners have been hearing about the possibility of a crypto related executive order over the past few months and many have been pulling coins off exchanges, coing-joining, and selling in preparation. After the release of the order, there was nothing that would majorly impact users and the price skyrocketed. Wilson asks for McClurg's perspective on if this is a positive or negative sign for the market. McClurg explains that anytime there is a sideways market and the macro perspective is not great but they have not yet gone down, the news cycle has complete control over the price. Historically, many people traded based on the news and it continues today. The trio goes on to discuss Senator Elizabeth Warren's letter to the United States Treasury. The letter stated how crypto could be used as a weapon against sanctions, especially in Russia. McClurg brings up how gas prices are not refutable; they are higher on the West Coast due to less efficient transportation. Only roughly three percent of all U.S. oil comes from Russia and the rest is from the Middle East, therefore it should not have a forty to fifty percent effect that has been seen over the last year. The reason for this increase is due to inflation as well as self-interest and lack of competition. “There is an opportunity to charge more, therefore they will.” McClurg states. Wilson adds in, “it goes back to Adam Smith's economic principles, if you eliminate competition then self interest goes up. Similarly, if you eliminate supply, then demand will increase because self-interest is tied to demand and creates consumer competition.” They circle back to discussing the executive order. Olszewics states that the order was tamer than anticipated and that it opens a door to start seriously talking about crypto. Wilson states that the fear was far greater than the reality. McClurg brings up the specifics from the executive order and says, “number one is to protect U.S. consumers and businesses, through which they are trying to reduce systematic risk... bitcoin will eventually look like real estate. It is property, not security and many other trade associations will make sure there is no fraud.” One of the other topics that he found interesting was, “promote U.S. leadership in technology and economic competitiveness, which is what individual states are attempting.” The group wraps up the episode by talking about politicians finally increasing their knowledge on cryptocurrency and the excitement to see one another in Bitcoin Miami.  

Update@Noon
United States Treasury's Brian Nelson visits South Africa.

Update@Noon

Play Episode Listen Later Mar 16, 2022 5:27


The Under Secretary of the Treasury for Terrorism and Financial Intelligence, Brian Nelson, is in South Africa where he has met with top government officials, discussing anti-corruption efforts, countering the financial of terrorism, and US recent sanctions actions in Africa. Sakina Kamwendo spoke to SABC reporter Naledi Ngcobo  

The Chris Voss Show
The Chris Voss Show Podcast – Ways and Means: Lincoln and His Cabinet and the Financing of the Civil War by Roger Lowenstein

The Chris Voss Show

Play Episode Listen Later Mar 11, 2022 37:50


Ways and Means: Lincoln and His Cabinet and the Financing of the Civil War by Roger Lowenstein From renowned journalist and master storyteller Roger Lowenstein, a revelatory financial investigation into how Lincoln and his administration used the funding of the Civil War as the catalyst to centralize the government and accomplish the most far-reaching reform in the country's history Upon his election to the presidency, Abraham Lincoln inherited a country in crisis. Even before the Confederacy's secession, the United States Treasury had run out of money. The government had no authority to raise taxes, no federal bank, no currency. But amid unprecedented troubles Lincoln saw opportunity—the chance to legislate in the centralizing spirit of the “more perfect union” that had first drawn him to politics. With Lincoln at the helm, the United States would now govern “for” its people: it would enact laws, establish a currency, raise armies, underwrite transportation and higher education, assist farmers, and impose taxes for them. Lincoln believed this agenda would foster the economic opportunity he had always sought for upwardly striving Americans, and which he would seek in particular for enslaved Black Americans. Salmon Chase, Lincoln's vanquished rival and his new secretary of the Treasury, waged war on the financial front, levying taxes and marketing bonds while desperately battling to contain wartime inflation. And while the Union and Rebel armies fought increasingly savage battles, the Republican-led Congress enacted a blizzard of legislation that made the government, for the first time, a powerful presence in the lives of ordinary Americans. The impact was revolutionary. The activist 37th Congress legislated for homesteads and a transcontinental railroad and involved the federal government in education, agriculture, and eventually immigration policy. It established a progressive income tax and created the greenback—paper money. While the Union became self-sustaining, the South plunged into financial free fall, having failed to leverage its cotton wealth to finance the war. Founded in a crucible of anticentralism, the Confederacy was trapped in a static (and slave-based) agrarian economy without federal taxing power or other means of government financing, save for its overworked printing presses. This led to an epic collapse. Though Confederate troops continued to hold their own, the North's financial advantage over the South, where citizens increasingly went hungry, proved decisive; the war was won as much (or more) in the respective treasuries as on the battlefields. Roger Lowenstein reveals the largely untold story of how Lincoln used the urgency of the Civil War to transform a union of states into a nation. Through a financial lens, he explores how this second American revolution, led by Lincoln, his cabinet, and a Congress studded with towering statesmen, changed the direction of the country and established a government of the people, by the people, and for the people.

Law School
Taxation in the US: Internal Revenue Service (Part Three)

Law School

Play Episode Listen Later Mar 11, 2022 12:38


Tax collection statistics. Collections before refunds by type of return, fiscal year 2010. Individual income tax (49.9%). Employment taxes (35.3%). Corporate income taxes (11.9%). Excise taxes (2.0%). Estate taxes (0.7%). Other (0.2%). For fiscal year 2009, the U.S. Congress appropriated spending of approximately $12.624 billions of "discretionary budget authority" to operate the Department of the Treasury, of which $11.522 billion was allocated to the IRS. The projected estimate of the budget for the IRS for fiscal year 2011 was $12.633 billion. By contrast, during Fiscal Year (FY) 2006, the IRS collected more than $2.2 trillion in tax (net of refunds), about 44 percent of which was attributable to the individual income tax. This is partially due to the nature of the individual income tax category, containing taxes collected from working class, small business, self-employed, and capital gains. The top 5% of income earners pay 38.284% of the federal tax collected. As of 2007, the agency estimates that the United States Treasury is owed $354 billion more than the amount the IRS collects. This is known as the tax gap. The gross tax gap is the amount of true tax liability that is not paid voluntarily and timely. For years 2008-2010, the estimated gross tax gap was $458 billion. The net tax gap is the gross tax gap less tax that will be subsequently collected, either paid voluntarily or as the result of IRS administrative and enforcement activities; it is the portion of the gross tax gap that will not be paid. It is estimated that $52 billion of the gross tax gap was eventually collected resulting in a net tax gap of $406 billion. In 2011, 234 million tax returns were filed allowing the IRS to collect $2.4 trillion out of which $384 billion were attributed to mistake or fraud. --- Send in a voice message: https://anchor.fm/law-school/message Support this podcast: https://anchor.fm/law-school/support

Crypto Pirates
Here's what to expect following Biden's executive order on cryptocurrency regulation

Crypto Pirates

Play Episode Listen Later Mar 11, 2022 7:34


President Joe Biden pleasantly surprised the cryptocurrency market by issuing a comprehensive (yet vague) executive order outlining how the government will oversee the burgeoning industry. So, what happens next? The United States Treasury is leading or participating in the majority of the studies, which range in length from 60 to 180 days on average. Now that the lines have been drawn, it remains to be seen how officials in Washington think and how that translates into crypto policy. One report that the agency is tasked with leading concerns the future of payments and money. The issue of a central banking digital currency is one that the administration is expected to investigate thoroughly (CBDC). The most pressing questions concern how a digital dollar will interact with stablecoins and other privately issued digital assets, how these relate to the strategic position of the US dollar in general, and the relationship between digital and fiat assets. According to senior administration officials, CBDCs will be investigated for use as real-time payments – or whether another option may exist. FedNow, the Fed's upcoming real-time payment system, will allow consumers and businesses to send payments instantly beginning in 2023 and could be a potential test case. Officials are considering what needs a CBDC will fill once FedNow is available and real-time payments through that system are more feasible. "You could see stablecoins develop more quickly and broadly if there is adequate disclosure, certification of claims, and an audit function," said Chris Giancarlo, former Commodities Futures Exchange Commission Chair. "One possible future is that retail payments are made through commercially operated stablecoins and wholesale payments are made through the FedNow payment system," said Giancarlo, who is also the co-founder of the Digital Dollar Project, which has investigated the relationship between societal values and CBDCs. As other countries, such as China, promote their own digital currencies, Giancarlo has been advocating for the United States to lead the way in CBDCs. "I don't think the United States is a first mover in terms of deploying a CBDC, but we don't want the United States to be a last mover in exploring the technology," Giancarlo told Yahoo Finance. "It's like 5G. China is developing a digital yuan not only for domestic use but also for export." He claimed that China will export the basic core CBDC technology to any country that wants to get off the dollar. "It will be CBDC in a box provided by the People's Bank of China," he says. "If you're Cuba, Ecuador, or Venezuela, it'll be something you import from China." CBDCs are a controversial topic Another major issue that needs to be addressed, according to officials, is the interoperability of a US CBDC with international counterparts, and how that would be structured. Officials say there are also some private projects or multi-central bank projects looking into CBDC clearing and interoperability. Biden's executive order encourages the executive branch to take the lead on this potential outcome. If the United States pursues a CBDC, officials consider that a U.S. token would interact seamlessly with the global system, given that the US dollar is the premier reserve currency and central to the global financial system. "Adoption of US CBDC could fundamentally alter the role of both central and commercial banking," said Lisa Ledbetter, partner in Reed Smith's Financial Industry Group. "Weighing all of the factors in the EO is a policy and practical balancing act. Because a US CBDC would have international ramifications, it is critical that the private sector, foreign central banks, and other stakeholders have a seat at the table "said Ledbetter, who has worked for Freddie Mac, the Federal Deposit Insurance Corporation (FDIC), and the Treasury. However, there is no telling what a digital dollar might look like at the end of the process. The Federal Reserve is also being asked to expand on its research paper on the benefits and drawbacks of a CBDC, reflecting how the president's order placed "the highest priority" on such an instrument. If the administration determines that a digital dollar is in the best interests of the country, officials will decide whether legislation should be enacted. The Justice Department has been tasked with investigating whether legislation is required to move forwards with a CBDC. "Since the Fed is already conducting experiments involving digital currencies and a hypothetical CBDC, I would expect to see the results of that testing make their way into the EO research and next steps," Ledbetter told Yahoo Finance. Risks and solutions As the crypto industry has grown rapidly, the administration is taking a close look at the risks that cryptocurrencies pose to investors, consumers, and financial stability. The EO charges the Financial Stability Oversight Council (FSOC), which was formed following the 2008 financial crisis to monitor risks to the financial system, with researching what systemic risks digital assets pose to the financial system. The President's Working Group on Financial Markets (PWG) has already charged FSOC with investigating the systemic risks of stablecoins. Administration officials have stated that they will examine crypto as a whole through a lens similar to the PWG's report on stablecoins. This report highlighted the risks of stablecoin runs, the operational stability of the stablecoin issuance model, and the risks associated with power and commercial business consolidation. According to officials, the FSOC could go through a similar exercise to identify risks and solutions. However, an official familiar with the matter told Yahoo Finance that it was unclear whether the FSOC would get too granular about systemic risk – which may be best left to a regulator or legislation. Once the reports are completed, the government will have collaborated across agencies to reach a consensus on whether, in certain cases, it needs to hand off a set of recommendations for Congress to write legislation around – or if agencies will write new rules under their authority.   Support us!

Accelerated Investor Podcast
260: Marcus & Millichap Webcast Recap: The Future of Apartment Rentals

Accelerated Investor Podcast

Play Episode Listen Later Mar 4, 2022 20:21


I've got a really great episode for you today. For anyone interested in learning about what the economic outlook is for apartment rentals in the US, I've got you covered. I recently listened to a webcast with Hessam Nadji, the CEO of Marcus & Millichap, who was joined by the former Secretary of the United States Treasury, Hank Paulson. The other guest speakers were the President and CEO of TruAmerica MultiFamily, Robert E. Hart, and the President and CEO of ICSC, Tom McGee. This incredible conversation brought together some of the most successful and knowledgeable people in the field with one of the largest apartment transaction coordinators, brokers, and advisors, a one-of-a-kind expert. They went into great detail about growth in our economy, apartment rental industry, e-commerce and much more. While I highly recommend you listen to this conversation, I wanted to share my notes and big takeaways from this event, specifically for multifamily real estate investors. You'll learn why apartment rentals are expected to stay hot, why rent growth is happening in markets all over the United States, and why real estate will remain stable–even in the face of inflation. Key Takeaways with Josh Cantwell Why demand for apartment rentals isn't expected to drop anytime soon. Key reasons that rent growth is happening all over the country–and the trends driving this growth. Why real estate stays valuable even when paper money doesn't. How COVID has led to increased demand for suburban housing. Why the U.S. is still a great place to invest no matter what the future brings. Want the Full Show Notes? To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit https://acceleratedinvestorpodcast.com/260 Rate & Review If you enjoyed today's episode of The Accelerated Real Estate Investor Podcast, hit the subscribe button on Apple Podcasts, so future episodes are automatically downloaded directly to your device. You can also help by providing an honest rating & review over on Apple Podcasts. Reviews go a long way in helping us build awareness so that we can impact even more people. THANK YOU! Connect with Josh Cantwell Facebook YouTube Instagram LinkedIn Twitter Sign Up For My Coaching Program! To unlock your potential and start earning real passive income, visit joshcantwellcoaching.com

Deep Thoughts, Simple Truths
Worldviews Against Christianity

Deep Thoughts, Simple Truths

Play Episode Listen Later Feb 26, 2022 19:16


There are Cards Against Humanity, then there are Worldviews Against Christianity. In this episode, other worldviews enter the scene and are introduced. There's some name-calling and some observations. *Warning: it gets a little politically and culturally incorrect* but in a loving and thought-provoking way. I'm holding a $100 bill from the United States Treasury. It has a hologram, a watermark, colors, serial numbers, stamps, and patterns. It's legit. And then there are other counterfeit bills out there that look like the real deal. How can you know which one is real? Only by studying the original can you identify the fake. Some worldviews look like the genuine article but you can't buy anything with it. --- Send in a voice message: https://anchor.fm/matthew-johnson27/message Support this podcast: https://anchor.fm/matthew-johnson27/support

Blockchain Value
Season 2, Episode 1 – What do Bored Apes have to do with crypto compliance? (with Ari Redbord)

Blockchain Value

Play Episode Listen Later Feb 23, 2022 21:57


Ari Redbord is the Head of Legal and Government Affairs at TRM Labs, the blockchain intelligence company. TRM provides next generation blockchain analytics software to governments, financial institutions and cryptocurrency businesses. Prior to joining TRM, Ari was the Senior Advisor to the Deputy Secretary and the Undersecretary for Terrorism and Financial Intelligence at the United States Treasury where he worked with teams from the Office of Foreign Assets Control (OFAC), the Financial Crimes Enforcement Network (FinCEN), and other Treasury components to use sanctions and other regulatory tools effectively to safeguard the financial system from illicit use. Prior to Treasury, Ari was an Assistant United States Attorney for the District of Columbia for eleven years. 2021 was the year of the NFT and it looks like 2022 might be a repeat! From Bored Apes to CryptoPunks, Top Shot to SNL, non-fungible tokens have exploded into pop culture, sports, and finance. But like anything that allows for value transfer at the speed of the internet, NFTs present unique risks from illicit actors who want to use emerging technology for money laundering and other illicit activity. Ari Redbord of TRM Labs joins us to talk about the NFT regulatory landscape, illicit finance risks and ultimately the power and promise of NFTs to solve complex problems way beyond art and collectibles.

National Day Calendar
November 16, 2021 - National Indiana Day | National Fast Food Day

National Day Calendar

Play Episode Listen Later Nov 16, 2021 3:30


Welcome to November 16, 2021 on the National Day Calendar. Today we celebrate the Hoosier State and food served lickity split.  Indiana is famous for many things: basketball, the Indy 500, and being the birthplace of the Jackson 5. But its lesser known claim to fame is an enormous supply of limestone. In fact Indiana is known as the limestone capital of the world. The Empire State Building was constructed using stone from Indiana. So was the Pentagon. And the United States Treasury. And Rockefeller Center. In fact, more than a dozen state capitol buildings wouldn't exist without limestone mined by the good people of Indiana. It's National Indiana Day and today we celebrate the Hoosier State and its hand in helping to literally lay the foundation for America. Fast food has its origins in the State of Kansas. In 1921, E.W. Ingram opened a restaurant that you might have heard of...White Castle. They served the same small, square burgers as they do today. And the burgers were shaped that way so that more would fit on the grill. When White Castle opened, burgers were thought of as a food only slightly about table scraps for dogs. In order to dispel that notion, Ingram set up the kitchen so that people could see their food being prepared. His “take out” food diner began selling burgers by the sack, which is now a hallmark of fast food restaurants. On National Fast Food Day, indulge in some of your guilty pleasures, and enjoy the convenience of this “fast meal.”   I'm Anna Devere and I'm Marlo Anderson. Thanks for joining us as we Celebrate Every Day. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Resistance Library from Ammo.com
The Pittman-Robertson Act: The Forgotten History of the Celebrated Tax on Firearms and Ammo

The Resistance Library from Ammo.com

Play Episode Listen Later Aug 31, 2021 28:38


On this episode of the Resistance Library Podcast, Sam and Dave discuss the Pittman-Robertson Act. It's unusual to think that Second Amendment proponents and members of the freedom movement would celebrate the day that a tax took effect. But that's precisely what the Pittman-Robertson Act is – a tax often celebrated by gun enthusiasts, patriots and pro-freedom elements in the United States. Its story is one of the more fascinating in the history of American legislation.   Signed by President Franklin D. Roosevelt on September 2, 1937, the Pittman-Robertson Act, known officially as the Federal Aid in Wildlife Restoration Act of 1937, does not establish a new tax. Instead, it commandeered an existing 11-percent excise tax on rifles, shotguns and ammunition, and a 10-percent tax on pistols. Rather than going into the general fund of the United States Treasury, the Pittman-Robertson Act earmarked this money for the Department of the Interior and its wildlife preservations efforts. The money is then distributed to the states and can be spent how they see fit.   This was a coup for the Second Amendment and liberty movements. Rather than the money going toward a federal government interested in stripping them of their rights, it went to the Department of the Interior, with interests in keeping the American wilderness wild at heart. With this bill, hunters and firearms enthusiasts continued their role as the unsung heroes of the American conservation movement. In fact, Federal Ammunition was instrumental in getting the bill made into law.   You can read the full article “The Pittman-Robertson Act: The Forgotten History of the Celebrated Tax on Firearms and Ammo” at Ammo.com.   For $20 off your $200 purchase, go to https://ammo.com/podcast (a special deal for our listeners).   Follow Sam Jacobs on Twitter: https://twitter.com/SamJacobs1776   And check out our sponsor, Libertas Bella, for all of your favorite 2nd Amendment shirts at LibertasBella.com.   Helpful Links:  Resistance Library  Sam Jacobs

Notes To My (Legal) Self
Season 2, Episode 7: From Suits to Hoodies: A Career Prosecutor and Treasury Official Goes Start-Up with Ari Redbord

Notes To My (Legal) Self

Play Episode Listen Later Apr 11, 2021 30:45


Ari Redbord is the Head of Legal and Government Affairs at TRM Labs, the blockchain intelligence company. Prior to joining TRM, Ari was the Senior Advisor to the Deputy Secretary and the Undersecretary for Terrorism and Financial Intelligence at the United States Treasury. In that position, Ari led teams from the Office of Foreign Assets Control (OFAC), the Financial Crimes Enforcement Network (FinCEN), and other Treasury components to use sanctions and other regulatory tools effectively to safeguard the financial system from illicit use by terrorist financiers, weapons of mass destruction proliferators, drug kingpins, and other rogue actors, including Iran, Syria, North Korea and Venezuela. In addition, Ari worked closely with regulators, the Hill and the interagency on issues related to the Bank Secrecy Act, cryptocurrency, and anti-money laundering strategies. Prior to Treasury, Ari was an Assistant United States Attorney for the District of Columbia for eleven years where he investigated and prosecuted terrorism, espionage, threat finance, cryptocurrency, export control, child exploitation and human trafficking cases. In this episode, we discuss Ari's background as a federal prosecutor and his work at the blockchain intelligence company. What made him choose to join a tech startup after a career in government? What is his to lawyers navigating the transition?

EconoFact Chats
The Carbon Tax: A Green Thumb on the Invisible Hand

EconoFact Chats

Play Episode Listen Later Nov 23, 2020 19:41


Current strategies to address climate change include subsidizing clean energy production, raising minimum efficiency standards for buildings and factories, and even instituting outright bans on gasoline-powered automobiles. But another strategy, one advocated by many economists -- the carbon tax -- harnesses market forces to lower greenhouse gas emissions. On this episode of EconoFact Chats, Tufts professor Gib Metcalf and host Michael Klein discuss what a carbon tax would look like, the bipartisan support for it, and how it could affect jobs and businesses. They also discuss broader opportunities for the new Biden administration to address climate change. The conversation draws on Metcalf's experience in the United States Treasury, as well as his recent book Paying for Pollution: Why a Carbon Tax is Good for America.

Founders
#122 My Years with General Motors: The Autobiography of Alfred Sloan

Founders

Play Episode Listen Later Apr 26, 2020 65:15


What I learned from reading My Years with General Motors by Alfred Sloan.[2:40] There are ideas worth billions in a $30 history book: Henry talked to me on several occasions about a book by the former chairman of General Motors. He told me he had learned a very important concept from that book, which he wished to use in the growth of Teledyne. . .during a very difficult economic time of recession, General Motors had needed additional funds to finance their growth and had a plan to sell bonds to the general public. The bond sale was a complete failure, and the chairman (Sloan) had written in his book that it had taught him an important lesson. It was that for a corporation to grow and to have a strong financial base, it needed to have, as part of itself, an interest in substantial financially oriented institutions. So General Motors had started GMAC and invested in other financial groups. As a result of his interest in this idea, Henry had decided that at some point, he would seek out financial organizations we could acquire. We began acquiring a number of financial and insurance companies, which was a significant change from our usual aerospace, metals, industrial and consumer company acquisitions.[5:45] Alfred Sloan had a singular focus: General Motors and the Hyatt Roller Bearing Company, have been almost the sole interests of my business life.[6:28] Alfred Sloan's perspective on work: I simply took the view that we should go at the job vigorously and without hampering restrictions. I put no ceiling on progress.[12:22] Billy Durant came up with the idea for General Motors. Alfred Sloan perfected it: Durant's pioneer work has yet to receive the recognition it deserves. His philosophy was an emerging one in the Model T era and was afterward to be realized not by him but by others, including myself.[19:08] The accumulated intelligence of mankind is what makes us special amongst all other species Everything is built upon the foundation before it: It has been called to my attention that Eli Whitney, long before, had started the development of interchangeable parts in connection with the manufacture of guns, a fact which suggests a line of descent from Whitney to Leland to the automobile industry.[29:20] Alfred Sloan had a great perspective on problems. They are temporary and we can fix them: Economic declines have a way of shaking out the weak ones in business, and we had weaknesses. Some people cannot see beyond a slump, but I have never yielded to economic pessimism and in times of decline have kept in mind the eventual upturn of the business cycle and the long—range dynamics of growth. Confidence and caution formed my attitude in 1920. We could not control the environment, or predict its changes precisely, but we could seek the flexibility to survive fluctuations in business. I mention this because confidence is an important element in business; it may on occasion make the difference between one man's success and another's failure.[33:15] Sloan on how difficult Henry Ford was to compete against: With Ford in almost complete possession of the low—price field, it would have been suicidal to compete with him head on. No conceivable amount of capital short of the United States Treasury could have sustained the losses required to take volume away from him at his own game. [38:40] Alfred Sloan on committees: I have often been taxed, by people who do not know me, with being a committee man—and in a sense I most certainly am—I have never believed that a group as such could manage anything. A group can make policy, but only individuals can administer policy.[44:20] General Motors was able to overtake Ford because they widened a niche: It was that plan, policy , or strategy of 1921—whatever it should be called— which, I believe, more than any other single factor enabled us to move into the rapidly changing market of the twenties with the confidence that we knew what we were doing commercially and were not merely chasing around in search of a lucky star. The most important particular object of that plan of campaign, which followed from its strategic principles, was, as I have said, to develop a larger place for Chevrolet between the Ford car below and the medium—price group above, a case of trying to widen a niche. That was all, in the beginning, despite the completeness of the plan with regard to the whole market.[56:40] Alfred Sloan knew the car market was changing. You didn't make sales by having the best car. You made sales by being different. David Ogilvy called this idea “a positively good product”: In the past, just about every advertiser has assumed that in order to sell his goods he has to convince consumers that his product is superior to his competitor's. This may not be necessary. It may be sufficient to convince consumers that your product is positively good. If the consumer feels certain that your product is good and feels uncertain about your competitor's, he will buy yours. If you and your competitors all make excellent products, don't try to imply that your product is better. Just say what's good about your product – and do a clearer, more honest, more informative job of saying it. Sales will swing to the marketer who does the best job of creating confidence that his product is positively good.---“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested, so my poor wallet suffers.”— GarethBe like Gareth. Buy a book. It's good for you. It's good for Founders. A list of all the books featured on Founders Podcast.

Mississippi Edition
4/1/20 - Lauderdale Co. Shelter in Place | Bank Security | Southern Remedy Health Minute | Cory Branan

Mississippi Edition

Play Episode Listen Later Apr 1, 2020 24:10


The Governor issues his first shelter in place order.And, with the Dow having its worst quarter in over a century, how secure is money in the bank?Then, after a Southern Remedy Health Minute, shut-down bars and concert venues are leaving gig workers gig-less. How one Mississippi musician is coping.Segment 1:Lauderdale County in east Mississippi is under a shelter in place order. Governor Tate Reeves issued the Executive Order yesterday as a means to slow the spread of the coronavirus in the county, which has seen a rapid increase in positive tests of COVID-19. Reeves says the action follows the new aggressive measures against the virus outlined by his coronavirus response team last week.Segment 2:COVID-19 is causing many concerns with consumers as the market suffered its worst quarter in over a century - but, the Mississippi Bankers association says access to money in the bank shouldn't be one of them. Executive Order 1463, signed Governor Reeves last week, includes banks as essential services as defined by guidance from US Department of Homeland Security and the United States Treasury. Gordon Fellows is the President and CEO of the Mississippi Bankers Association. He says regulations help keep consumers' money safe.Segment 3:Southern Remedy Health MinuteSegment 4:Southaven native Cory Branan has made a living making records and touring - both the U.S. and Europe - but with doors to bars and concert venues locked-up, the gigs have gone dry. He shares how he and his colleagues are adapting to life at home, and how social media platforms help keep the connection with his fans alive. See acast.com/privacy for privacy and opt-out information.

Arcadia Economics
Libertopia Offers Hope and Solutions To The Current Fiscal Crisis

Arcadia Economics

Play Episode Listen Later May 11, 2018 10:55


Subscribe to our channel for important financial market updates now! http://bit.ly/2t1HKOj If you're reading this article, you're likely already well familiar that the fiscal condition of the United States Treasury and dollar are far from ideal. Yet for those who are somewhat tired of hearing about the problems and long for the solutions, last week's Libertopia Festival offered a ray of sunshine amidst the dark clouds of Wall Street's bubbles. Yes, there are bubbles in the stock, bond, and real estate markets. And yes, based on my experience and research I believe they're approaching the end of their life cycle. Yet that does not mean that life cannot carry on. Or that life cannot carry on in an even more positive and encouraging fashion. Which is what made it such a blessing to be able to attend Libertopia this year. Where speakers who I've admired and respected for years like Jeffrey Tucker and Jeff Berwick spoke about liberty, freedom, and how there are people who are already building a better way of life to gravitate towards as the current financial system continues to dissolve. While the crypto sector in particular gained a lot of attention last year due to its often manic pricing action, what many are still not aware of is how this represents a technological revolution that is building a more honest and transparent system. So to learn more about the cryptos, the entrepreneurial energy behind the movement, and to see how these new companies are providing solutions to combat the corruption of the current system was truly inspirational…. For the rest of this article go to: http://arcadiaeconomics.com/cryptos/libertopia-offers-hope-and-solutions-to-the-current-fiscal-crisis/ - For more help understanding the markets or to talk with Chris visit: http://arcadiaeconomics.com/ - To get a copy of Arcadia's latest Monthly Market Snapshot visit: http://arcadiaeconomics.com/monthly-market-snapshot/ - Subscribe to Arcadia Economics Youtube Channel: http://bit.ly/2t1HKOjSubscribe to Arcadia Economics on Soundwise