Podcasts about us treasury

Hello and welcome to episode 211 of the Financial Crime Weekly Podcast. I am Chris Kirkbride. In this episode, the US seizes a crude oil tanker linked to an oil shipping network supporting Hizballah and Iran's IRGC-Qods Force, while the EU Council sanctioned nine shadow fleet enablers and twelve individuals and two entities involved in hybrid threats, cyberattacks, and foreign information manipulation against Ukraine and NATO allies. We also reflect on geopolitical shifts, as the US Treasury lifted Global Magnitsky sanctions against Brazilian Supreme Court Justice Alexandre de Moraes following political negotiations, and the UK designated four Sudanese RSF commanders for grave humanitarian law violations in Darfur. On other financial crime threats, the conviction of three City fund managers in a £11.4 million fraud targeting Libya's sovereign wealth fund, the FATF flagging serious effectiveness weaknesses in Belgium's fight against money laundering, and the US Treasury warning consumers about a surge in AI-enabled cyber scams during the holiday season. Finally, we look at regulatory action, as the UK's FCA launched a consultation to bring a market abuse regime and disclosure requirements to cryptoassets, and the ICO fined LastPass £1.2 million for a 2022 data breach impacting 1.6 million UK users.A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.

In today's episode, Kip dives into the latest market action after a rough start to the week, highlighting the volatility and short-term shakeouts in stocks and bitcoin. He explores why these pullbacks are actually signs of a young and bullish market, shares his thoughts on the Federal Reserve's direction with potential new leadership, and introduces a compelling theory about a long-term plan involving US Treasury bonds backed by gold, silver, and bitcoin. Tune into today's podcast to learn more. 

Hello and welcome to episode 210 of the Financial Crime Weekly Podcast. I am Chris Kirkbride. In this episode, on sanctions, the UK has sanctioned two China-based technology companies for conducting reckless cyberattacks, while the US Treasury imposed sanctions on shipping firms and insiders linked to the Maduro regime. We also cover critical anti-money laundering failures, highlighted by the FCA fining Nationwide Building Society £44.1m for pervasive weaknesses in its anti-financial crime controls between 2016 and 2021, and the FATF finding Malaysia weak on converting money laundering investigations into prosecutions. Furthermore, there are warnings from the UNODC that organised crime is heavily exploiting the mining sector across Latin America and the Caribbean, and look ahead to the global anti-corruption push at the UN's COSP11 conference.A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.

Join Nate Thurston and Charles 'Chuck' Thompson for another lively episode of Good Morning Liberty as they discuss the 'Dumb Bleep of the Week,' highlighting the most absurd moments in politics. From Congress's union debates to discussions on Trump's pardoning powers, New Jersey's plastic utensil ban, and a controversial jury decision, they've got it all covered. Plus, they bring you a hilarious campaign announcement from Jasmine Crockett and a self-own by the US Treasury. Laughs, rants, and insightful commentary abound in this must-watch episode! 00:00 Intro 02:08 Unions 11:05 Presidential Pardons 15:19 Big Pharma Bailouts 19:10 Netflix and Warner Brothers 31:09 Elon Musk and Wealth Inequality 42:19 Energy Drinks and Parenting Responsibility 47:20 New Jersey's Plastic Fork Ban 53:22 The Swastika Incident 57:05 Jury Nullification and the N-Word 01:05:20 Jasmine Crockett's Senate Campaign 01:09:41 US Treasury's Self-Own on Bond Market Returns  

Today the government is getting sued by an app developer, Capitol Cops, FBI agents, Kilmar Abrego Garcia, California, Daniel Richman, Mike Flynn, and a boatload of January 6 rioters — although those last two are basically sham lawsuits seeking to raid the US Treasury with the help of President Treasonweasel. Two judges in DC seem perilously close to holding the DOJ in contempt. And for subscribers, the unbearable cognitive dissonance of Tina Peters.Links:NRSC v. FEC [SCOTUS Docket]https://www.supremecourt.gov/search.aspx?filename=/docket/docketfiles/html/public/24-621.htmlDoes v. Patel [wrongfully fired FBI agents]https://www.courtlistener.com/docket/72004388/does-v-patel/Aaron v. Bondi [ICEBlock]https://www.courtlistener.com/docket/72003579/aaron-v-bondi/?order_by=descFlynn v. UShttps://www.courtlistener.com/docket/66930673/flynn-v-united-states/?order_by=descTrump Pardoned Them for Jan. 6. Now They Want Millions of Dollarshttps://www.bloomberg.com/news/articles/2025-12-10/trump-pardoned-them-for-jan-6-now-they-want-millions-of-dollarsRichman v. UShttps://www.courtlistener.com/docket/71982634/richman-v-united-states/?order_by=descNewsom v. Trumphttps://www.courtlistener.com/docket/70496361/newsom-v-trump/?order_by=descJ.G.G. v. Trumphttps://www.courtlistener.com/docket/69741724/jgg-v-trump/?order_by=descShow Links:https://www.lawandchaospod.com/BlueSky: @LawAndChaosPodThreads: @LawAndChaosPodTwitter: @LawAndChaosPodSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Crypto News: The Federal Reserve cuts rates by 25 bps and will start money printing, they will begin purchasing US Treasury Bills on December 12th and will buy $40 billion of US Treasury bills in 30 days. Brought to you by

Global bond yields are quietly climbing again in late 2025—even as central banks start cutting short‑term rates. In this video, we break down what's actually happening in the bond market, why the 10‑year government bond is so important, and what higher yields could mean for stocks, startups, real estate, and your portfolio.Using simple charts and real numbers, we explain concepts like term premium, bear steepening, and duration in plain English, then walk through a few realistic scenarios for 2026 instead of doomsday predictions.Key Takeaways- Long‑term government bond yields in major markets have moved higher again, as investors demand more compensation for inflation and fiscal risk.- This raises the discount rate used to value long‑duration assets like growth stocks and startups, putting pressure on high multiples even if earnings look strong.- At the same time, short‑term bonds and cash‑like instruments now offer attractive yields, so investors finally have genuine fixed‑income alternatives to equities.Glossary – Financial Terms Explained- Yield: The annual return you earn from a bond, expressed as a percentage of its price. If price falls, yield rises, and vice versa.- Basis Point (bps): One‑hundredth of a percentage point. 50 bps = 0.50%. Useful for talking about small rate moves precisely.- Risk‑Free Rate: The yield on high‑quality government bonds (often the 10‑year US Treasury), used as the baseline return investors can get with very low credit risk.- Yield Curve: A line that shows bond yields from short maturities (e.g., 3‑month) to long maturities (e.g., 30‑year). It summarizes market expectations for growth and inflation over time.- Bear Steepening: A situation where long‑term yields rise faster than short‑term yields. It usually signals markets are worried about future inflation, debt, or growth risks.- Term Premium: The extra yield investors demand for locking money into long‑term bonds instead of rolling short‑term ones. It rises when there's more uncertainty about inflation, deficits, or who will buy all the new debt.- Duration: A measure of how sensitive a bond (or stock-like asset) is to interest‑rate changes. Higher duration = bigger price swings when yields move.- Investment‑Grade Bond: Debt issued by governments or companies with strong credit ratings, viewed as relatively low default risk.- High‑Yield / Junk Bond: Debt from weaker issuers with higher default risk. They pay higher yields to compensate investors for that risk.- Discount Rate: The interest rate used to convert future cash flows into today's value. When this rate goes up, the present value of distant cash flows (like future startup profits) goes down.SUBSCRIBE FOR MORE VC & STARTUP STRATEGYVC10X breaks down the most important stories in tech, startups, and investing every week. If you want actionable insights to help you build or invest in the next great company, subscribe now.LET'S CONNECTWebsite: https://VC10X.comX / Twitter: https://x.com/choubeysahabLinkedIn: https://linkedin.com/in/choubeysahabCOMMENT BELOWHow do you think this will play out in 2026?#BondMarket #InterestRates #Investing #StockMarket #Finance #Economics #FederalReserve #BondYields #10YearTreasury #MacroEconomics #MarketAnalysis #PassiveIncome #BearSteepening

The US Federal Reserve cuts rates to 3.5%–3.75% but three dissenting members signal deepening divisions. It surprises with a new bond buying programme to start in the coming days. US small caps moved to an all-time high, US Treasury yields dipped, and the USD fell. Yet, Oracle's outlook and additional financing needs are unsettling investors. Nasdaq futures and Asian technology stocks are lower. In Japan, strong demand at a 20-year bond auction eases yield pressures. With a record high in silver and gold close to its recent highs, Carsten Menke, Head of Next Generation Research, delivers our outlook on the two metals following the Fed decision.(00:00) - Introduction: Helen Freer, Product & Investment Content (00:56) - Markets wrap-up: Mike Rauber, Product & Investment Content (07:21) - Gold and silver: Carsten Menke, Head of Next Generation Research (11:05) - Closing remarks: Helen Freer, Product & Investment Content Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

Hello and welcome to episode 209 of the Financial Crime Weekly Podcast. I am Chris Kirkbride. In this episode, the UK has imposed sweeping sanctions on Russia's GRU following the conclusion of the Salisbury poisoning inquiry, and implements dual sanctions targeting both malicious cyber actors and entities destabilising Ukraine. Australia has launched a world-first autonomous sanctions framework against key Taliban leaders, while the US Treasury sanctioned a transnational network primarily composed of Colombian nationals for recruiting fighters for Sudan's Rapid Support Forces. On corruption, in the UK, the government unveiled its comprehensive Anti-Corruption Strategy 2025, and world anti-corruption day has been marked by a range of global agencies. Fraud concerns were highlighted by the US recovering nearly $1.7 million in cryptocurrency stolen through a sophisticated investment scam, and a UK report reveals that taxpayers lost £10.9 billion to Covid support scheme fraud and error. Finally, regulatory enforcement targeted the financial sector, as FinCEN imposed a $3.5 million penalty on Paxful for wilfully violating the Bank Secrecy Act.A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.

In 1999, a young US Secret Service special agent is assigned to the counterfeit squad in Chicago, Illinois. Aside from dignitary protection, one of the agencies' roles is to investigate counterfeiting. Across the Midwest, someone is spending up big with $100 counterfeit notes. The level of skill, expertise, and execution required to break the most secure and sophisticated note in the history of the US Treasury is equal parts impressive and intimidating. But the con can't last forever. In episode (insert number), Jac and Alexis detail the life and crimes of Arthur ‘Art' J Williams Jr, whose journey from street crime to becoming the top currency counterfeiter in the country brought him face to face with Special Agent Brad Beeler. This two-part story shows how two men from opposite sides of the law can come to develop respect for each other as they each make their way to the top of their chosen careers, and how redemption is never too late. Learn more about your ad choices. Visit podcastchoices.com/adchoices

This episode breaks down the true scale of the cybercrime economy. Randy covers the Marquis vendor breach that exposed data across more than 74 banks and credit unions and highlights the ongoing weakness in third-party risk. Andre examines the FinCEN report showing over 2 billion in ransomware payments last year and reveals how organized these criminal groups have become. Bryan closes with a deep dive into the US Treasury's decade long analysis of 4.5 billion in ransom payments, showing how ransomware has grown into an economy that rivals legitimate global businesses. This is essential insight for business leaders, MSPs, and IT professionals who want to understand what is really driving the surge in cybercrime.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Paramount has launched a hostile takeover bid for Warner Bros. Discovery Inc at $30 a share in cash on Monday, just days after the company agreed to a deal with Netflix Inc. The offer values Warner Bros. at $108.4 billion, including debt.(2) European leaders are increasingly confident they will reach a deal to use frozen Russian assets before the end of the year following talks in London, even as a gulf remains between Europe and the US on providing security guarantees for Kyiv.(3) President Donald Trump granted Nvidia Corp. permission to ship its H200 artificial intelligence chip to China in exchange for a 25% surcharge, a move that lets the world’s most valuable company potentially regain billions of dollars in lost business from a key global market.(4) Unilever's new spinoff - The Magnum Ice Cream Company - was valued lower than some analysts expected in its debut on the Amsterdam Stock Exchange. Magnum shares closed at €12.97 each on Monday, giving the company a market value of €7.94 billion.(5) US Treasury yields climbed to the highest in more than two months on Monday. It comes amid a slump in global bonds, ahead of the Federal Reserve interest-rate decision tomorrow.(6) Black Friday discounts failed to prevent a slowdown in UK retail - adding to evidence that speculation of tax rises ahead of the Autumn budget damaged consumer confidence.Podcast Conversation: Fancy Going Out in London? Good Luck Finding a Table NowSee omnystudio.com/listener for privacy information.

Kia ora,Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news long term bond yields are on the move higher again with the UST 10yr at a 4 month high, but the Japanese yen is now at a 27 year high. The Australian equivalent is at a 2 year high and threatening a 14 year benchmark, while the NZGB 10 year is at a 5 month high.In the US, the top-line survey of inflation expectations seems stable at a highish 3.2% for the year ahead, 3.0% for 5 years ahead. But within that are some signals that have garnered attention. Expectations for food rose to 5.9%, petrol climbed to 4.1%, medical care surged to 10.1% (the highest since January 2014), college education increased to 8.4%, and rent jumped to 8.3%. The main reason the overall lid remained is that house price expectations fell. The survey indicated that consumers expect a worsening financial situation.The failure of the Trump Administration to get a deal out of China for agricultural exports is seeing them scrambling to support their farmers with direct subsidies.There was another US Treasury auction today, the ever-popular 3 year Note. But offer volumes fell more than -7% for this event. It delivered a median yield of 3.57%, little-changed from the 3.54% at the prior equivalent event a month ago.In Japan, a powerful earthquake with a preliminary magnitude of 7.5 struck northeastern Japan late Monday night, with aaa a tsunami warning for coastal areas of Hokkaido issued.Japan's GDP contracted -0.6% in Q3 2025 from Q2, a larger fall than the flash estimate of a -0.4% decline and market forecasts for a -0.5% drop. The latest figure followed a downwardly revised -0.5% growth in Q2 and marked the first quarterly contraction since Q1 2024, with business spending slipping for the first time in three quarters.In China, they released November trade data overnight and their exports rose by +5.9% from a year ago to an eleven-month high, much better than the expected +3.8% rise and recovering from the -1.1% fall in October. There was a notable surge in exports to non-US markets. A lower than expected rise in imports delivered at trade balance exceeding +US$110 for the month and extending their rise that started with the Trump challenge in late 2024. Separation from the US has delivered a rising export dividend for China. For the eleven months of 2025 so far, the Chinese trade surplus has now exceeded US$1 tln.Over all of 2025 to the US, their exports fell -18% and their imports fell -13%. To Australia, China's exports are up +8% while imports are down -8%. To New Zealand, China's exports are up +4% while their imports are up +10%.As good as these export numbers are for China, they are also going into debt at an equally impressive rates. China's central government will likely issue more than CNY12 tln (US$1.7 tln) of new debt in 2026, with a fiscal deficit ratio of at least 4%. There is alarm in some quarters as the expansionist policies get the official tick..In Europe, German industrial production rose +1.8% in October from September, sharply outperforming market expectations for a -0.4% decline. It was the strongest monthly gain since March. Year on year it is up +0.8%. The Germans measure this metric in real, inflation-adjusted terms.The UST 10yr yield is now at 4.17%, up another +3 bps from this time yesterday. The price of gold will start today at US$4191/oz, and down -US$6 from yesterday.American oil prices are down -US$1 at just over US$59/bbl, while the international Brent price is just under US$63/bbl.The Kiwi dollar is marginally softer from yesterday, now at just under 57.7 USc, down -10 bps. Against the Aussie though we are up +10 bps at just on 87.1 AUc. Against the euro we are unchanged at 49.6 euro cents. That all means our TWI-5 starts today at 61.9, and little-changed from yesterday.The bitcoin price starts today at US$89,846 and up +0.4% from this time yesterday. Volatility over the past 24 hours has been modest, at just over +/- 1.6%.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

US stocks held onto gains as the Fed countdown began, with the S&P 500 quietly rebounding to near a record high. In company news, Netflix slipped on a bumper deal with Warner Bros, while Ulta Beauty beat expectations ahead of the holiday sales period. Meanwhile, US Treasury yields edged higher following cooler PCE inflation data. In commodities, silver hit a record high on Fed rate-cut optimism, while oil prices held steady amid stalled Ukraine peace talks. Back home, Aussie shares are expected to open lower ahead of the RBA’s interest rate decision. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.

Bond-market investors worry that the leading candidate for Fed chair is too close to US President Donald Trump, while HSBC finally picks its new chair. Plus, the EU has a last-minute plan to fund Ukraine's economic revival. Mentioned in this podcast:Bond investors warned US Treasury over picking Kevin Hassett as Fed chairHSBC appoints Brendan Nelson as chair after chaotic searchBrussels floats ‘emergency' powers to raise €210bn from Russian assetsTell us whether your spending habits have changed this holiday season. Email Marc at marc.filippino@ft.com Note: The FT does not use generative AI to voice its podcasts Today's FT News Briefing was hosted and edited by Marc Filippino, and produced by Fiona Symon, Victoria Craig and Sonja Hutson. Our show was mixed by Kelly Garry. Additional help from Michael Lello. The FT's acting co-head of audio is Topher Forhecz. The show's theme music is by Metaphor Music. Hosted on Acast. See acast.com/privacy for more information.

If you've been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I'd encourage you to head to our website, jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) . Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs.Scheduling is easy—once you land at jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) just click “Schedule Initial Call” and select a time that works best for you!There's a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently.If you're ready to learn more, visit jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) and book your call today!Take advantage of our partnership with LifeLock and get discounts using our link: https://lifelock.norton.com/offers?expid=LLONEYEAR&promocode= JSPW24&VENDORID= _JESSUPWM&om_ext_cid=ext_partner_ JSPW24_Productpage $)329 topics: Mixed Economic Signals: November ADP report shows 32,000 private sector job losses; 88.8% chance of 25 basis point rate cut on December 10.Fed Policy Shift: End of quantitative tightening expected to boost liquidity; potential for multi-year market upswing and lower interest rates.Japan's Yield Rise: 10-year bond yield hit 1.9%, reflecting normalization; Japan increased US Treasury holdings by $130 billion this year.Trump Savings Accounts: New tax-advantaged accounts aim for flexible saving options for various financial goals; details to follow.Cautious Optimism: Historical data suggests market gains post-Fed rate cuts; current inflation at 2.32%, signaling normalization and supportive liquidity.

Chuck Zodda and Mike Armstrong discuss markets viewing weak jobs data as good news and why that's a problem. The stock market rode AI to record highs. What could knock it down? Marc Benioff makes interesting claims about how Salesforce is using AI. Bond investors warned US Treasury over picking Kevin Hassett as Fed Chair.

On today's podcast:1) Kevin Hassett may not have the ability to deliver the rapid pace of interest rate cuts President Trump would like, even if he is approved as the next Federal Reserve Chair, said Gregory Peters, co-chief investment officer at PGIM Fixed Income. Peters made the remarks amid rising talk that Hassett, the White House National Economic Council Director, may ease monetary policy aggressively to please Trump if he is picked to run the Fed. But the PGIM fund manager suggested that — since Fed rate decisions are ultimately decided by committee — Hassett won’t have the power to deliver on his own. Peters’ remarks were in response to a Financial Times report that bond investors, including those on the borrowing advisory committee, have voiced concerns to the US Treasury about Hassett’s potential appointment as the Fed chief.2) President Trump’s aides and allies are discussing the possibility of making Treasury Secretary Scott Bessent the top White House economic adviser — in addition to his current job — should the president pick Kevin Hassett as the next chair of the Federal Reserve, according to people familiar with the matter. Tapping Bessent to lead the White House’s National Economic Council would allow him to consolidate oversight of Trump’s economic policies if Hassett — the current NEC director — becomes the next leader of the US central bank, an announcement Trump has hinted at in recent days. If Bessent is also named to the NEC, he would become the chief arbiter of the administration’s economic portfolio spanning the purview of both the Treasury Department and White House. It would also give Bessent a West Wing office, granting him even more physical proximity to the president.3) The Pentagon watchdog concluded that Defense Secretary Pete Hegseth risked endangering American troops and the US mission against Houthi rebels in Yemen when he shared attack plans on the Signal messaging app, a person familiar with the matter said. The acting Pentagon inspector general’s classified report, delivered to a Senate committee yesterday, said Hegseth violated government policies by using his personal phone and Signal to transmit the information, which was marked “Secret.” The person describing the contents of the report asked not to be identified discussing private information.See omnystudio.com/listener for privacy information.

The Trump admin is reportedly preparing to hold a high-level meeting to decide whether to provide licenses to allow NVIDIA (NVDA) to export the H200 to China, according to FT.US President Trump said the meeting between Russian President Putin, Special Envoy Witkoff and Kushner was a reasonably good meeting and "we'll see what happens".Trump's aides and allies were said to be discussing the possibility of Treasury Secretary Bessent also leading the NEC, according to Bloomberg; Bond investors reportedly warned the US Treasury over picking NEC Director Hassett as Fed chair, according to FT.USD/JPY pared gains after hawkish BoJ sources via Reuters suggested the central bank is likely to raise interest rates in December.APAC stocks were mostly higher following the positive momentum from Wall Street; European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.6% after the cash market closed with gains of 0.2% on Wednesday.Looking ahead, highlights include Swedish CPIF, EZ Retail Sales, US Challenger Layoffs, Jobless Claims, Revelio Public Labor Statistics, Chicago Fed Labour Market Indicators (Final), Durable Goods, Factory Orders, Atlanta Fed GDP, BoE DMP. Speakers include BoEʼs Mann, ECBʼs Lane, Cipollone & de Guindos, Fedʼs Bowman. Supply from Spain, France & UK. Earnings from Kroger & Dollar General.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The Federal Reserve may cut its benchmark rate below 3% next year, bull steepening the yield curve beyond what's priced into forwards, says Ira Jersey, Bloomberg Intelligence chief US rates strategist. Jersey is joined by BI US and Canada rates strategist Will Hoffman on this episode of the Macro Matters podcast to discuss the BI Rates team's recently released 2026 US Treasury Market Outlook. The pair discuss the state and direction of the US economy and how Fed interest-rate and balance-sheet policies are likely to shift. They also touch on the supply-and-demand outlook for the Treasury market, as well as relative value across the yield curve. The Macro Matters podcast is part of BI's FICC Focus series.

US markets mixed: S&P 500 and Nasdaq finished narrowly higher for the week, with small caps outperforming; leadership came from AI enablers, banks, brokers, machinery and select retail, while consumer defensives and cyclicals lagged.Rates, FX & commodities: US Treasury yields rose 3–5bp with the curve flattening; the US dollar strengthened, gold gained 0.3%, Bitcoin fell 1.1%, and WTI crude rose 1.2%.Market tone: Trading lacked clear macro direction as investors focused on company-specific news (Micro > Macro) ahead of key AI earnings events, the final Federal Reserve FOMC meeting, and lighter seasonal volumes.Key company moves: Meta surged on reports of 30% metaverse budget cuts; Dollar General beat and raised, while Kroger and Costco disappointed; mixed reactions across tech and retail earnings.Economic data & Fed outlook: Jobless claims hit the lowest level since 2022, but annual layoff announcements are the highest since 2020; markets are pricing ~90% chance of a 25bp Fed rate cut at the upcoming meeting.SPI up 20 - Energy stocks in focus.Want to invest with Marcus Today? Our MT20 portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you. If you're looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.  Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.

Hello and welcome to episode 207 of the Financial Crime Weekly Podcast. I am Chris Kirkbride. This episode covers a range of critical global financial crime developments, beginning with sanctions, where the UK government published statutory guidance detailing when trade licences under Russia sanctions may be granted, such as for humanitarian assistance or critical energy supply, while the US Treasury settled an $11.5 million sanctions case with IPI Partners for maintaining investments with sanctioned Russian oligarch Suleiman Kerimov. We also cover significant fraud and money laundering cases, including the European Public Prosecutor's Office uncovering a €40 million EU subsidy fraud scheme in Italy involving fictitious training courses, and the UK's Serious Fraud Office securing a conviction against the director of AOG Technics for selling aircraft engine parts with forged documentation. Additionally, we analyse integrity reforms, as the Council of Europe's GRECO confirmed the UK has made substantial progress in anti-corruption reforms within government and law enforcement, but still needs fully to implement sanctions for post-employment breaches and enhance lobbying transparency. We conclude with cybercrime, highlighting the NCSC's launch of its free Cyber Action Toolkit to help small businesses combat rising threats.A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.

MRKT Matrix - Wednesday, December 3rd Dow rises 400 points as weak ADP jobs report spurs rate cut hopes (CNBC) Payrolls at US Companies Fall by Most Since 2023, ADP Says (Bloomberg) Bad jobs report caused by shutdown, deportations — not tariffs, Lutnick says (CNBC) Bessent says Trump admin will be able to replicate tariffs even if it loses Supreme Court decision (CNBC) Bond investors warned US Treasury over picking Kevin Hassett as Fed chair (FT) Microsoft Lowers AI Software Growth Targets as Customers Resist Newer Products (The Information) Nvidia's Fat Margins Are Google and AMD's Opportunity (WSJ) Nvidia Scores Lobbying Win as Congress Rejects Chip Export Bill (Bloomberg) Anthropic taps IPO lawyers as it races OpenAI to go public (FT) --- Subscribe to our newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://riskreversalmedia.beehiiv.com/subscribe⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ MRKT Matrix by RiskReversal Media is a daily AI powered podcast bringing you the top stories moving financial markets Story curation by RiskReversal, scripts by Perplexity Pro, voice by ElevenLabs

Tariffs are bringing in some serious cash into the US Treasury's pocket. The problem with that money is that it may need to be refunded. A case in front of the Supreme Court could declare several of Trump's tariffs illegal, which would prompt a return of billions of dollars. Today on the show, we look at how that would work and why the process will likely not be easy. Related episodes: Three ways companies are getting around tariffsDays of our tariffsFor sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.  Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

Today on America in the MorningWH Talks Hegseth/Venezuela/Boat Strikes President Trump met with his national security team Monday night at the White House to discuss the latest on military options against Narco-terrorism coming to the U.S. as the White House aims to shift attention away from Defense Secretary Pete Hegseth and a strike on a suspected drug smuggling vessel that took place a few weeks ago. John Stolnis has more from Washington.   Preview Of Tennessee Special Election Both President Trump and House Speaker Mike Johnson spent Monday evening rallying for a Tennessee Republican locked in a surprisingly tight race to fill a once-safe House seat.  America in the Morning's Jeff McKay has a preview of today's special Tennessee election.  Mangione In Court The man accused of gunning down United Healthcare CEO Brian Thompson made a court appearance on Monday.  Correspondent Clayton Neville reports.    Appeals Court On Habba An appeals court has ruled against the Trump administration, and the president's former legal counsel.  Correspondent Haya Panjwani reports.   Did Minnesota Money Go To Terrorists Both the US Treasury and a House panel are opening investigations into whether Minnesota tax money found its way to al-Shabaab, a U.S.-designated foreign terrorist organization and al-Qaeda affiliate based in Somalia.   White House Holiday Prep The annual White House Christmas Tree lighting is set for Thursday, which comes as 1600 Pennsylvania Avenue is being decked out for the holiday season.  Correspondent Darlene Superville reports.     Suspected Shooter's Radicalization We're learning more about the suspect and the victims in the deadly attack of two National Guard members in Washington, D-C last week. Correspondent Clayton Neville reports the Trump administration believes the suspected shooter appears to have been radicalized after arriving in the US.   Witkoff To Meet With Putin Russian President Vladimir Putin claims that Kremlin forces have taken control of two Ukrainian cities close to the border with Russia, a claim that the Ukrainian government denies.  This comes as President Trump's special envoy Steve Witkoff is in Moscow to meet with Russian leadership today.  Washington correspondent Sagar Meghani reports.   Health Questions Answered President Trump has responded to a demand from Minnesota Governor Tim Walz made during a Sunday talk show regarding the health of the Commander-in-Chief.  Correspondent Joan Jones reports.   DOJ's Next Move The Justice Department is mulling over whether to seek new indictments against former FBI Director James Comey and New York Attorney General Letitia James.   No REAL ID Is Real Problem If you don't have a Real ID already, you'd better get one soon.  Correspondent Ed Donahue reports on a new airport fee that will be imposed if you try to travel without the proper identification.   Trucking School Crackdown If you've even been on the road and wondered if that truck next to you was following all of the rules, there may be a reason for it.  Correspondent Haya Panjwani reports on a federal crackdown on trucking schools, after a federal review found many are not complying with government rules.   Finally   Today is “Giving Tuesday,” an annual global day of giving which always follows the Tuesday after Thanksgiving and Black Friday, encouraging volunteering, donations, and acts of kindness.  Correspondent Julie Walker reports. Learn more about your ad choices. Visit podcastchoices.com/adchoices

In this daily editorial, Craig Hemke, Founder and Editor of TF Metals Report, breaks down the historic acceleration in precious metals, with Silver surging over 15% in November and now approaching $60/oz. Craig argues this sustained move is fundamentally different from past spikes and serves as a "front run" to major bullish developments anticipated in 2026. We analyze the glaring valuation disconnect in mining shares - despite record metal prices - and the imminent catch-up trade, which is part of a broader "hard asset" boom that includes Copper and Gold. Key Discussion Points: Silver's New Analog: Why the current market action is a sustained breakout, similar to Gold's 2024 move, rather than a fleeting spike. The Valuation Disconnect: Analysis of the historic lag in GDX and silver miners (SIL), signaling a massive catch-up trade is imminent based on Q4 margin expansion. Macro Drivers: Discussion on the weakening US Dollar and massive US Treasury deficits fueling the need for hard assets. The Hard Asset Trade: Simultaneous monthly high closes across Gold, Silver, Copper, GDX, and COPX signaling a major, sustained commodity trend. Click here to visit Craig's website - TF Metals Report   --------------------- For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/   Investment Disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger PictureTrump is leading the economy and the Fed is trying to crash it. The people will see that in the end we do not need the Fed. The fake news/[CB] narrative is falling apart. Trump puts up graph showing they are lying. The economy, Bitcoin and Gold/Silver are about to boom. The [DS] infiltration runs deep in DC and across the country. The [DS] players, Obama/Soros and other had many years to create their system. Trump is exposing and dismantling their system at lightening speed. Trump is now pushing for peace in regards to Ukraine and Russia, the [DS]/EU/NATO do not want peace and they will fight back to the very end. The entire corrupt criminal system is being exposed to the people . Economy (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); https://twitter.com/TKL_Adam/status/1993316668232417726?s=20  https://twitter.com/BitcoinMagazine/status/1993075213194740140?s=20 Political/Rights https://twitter.com/RichardGrenell/status/1993306352358506974?s=20 https://twitter.com/esaagar/status/1993054375854719415?s=20 https://twitter.com/CMDROpAtLargeCA/status/1993018252466045032?s=20 https://twitter.com/MJTruthUltra/status/1993124677582033146?s=20 the grand jury in the Epstein (Southern District of Florida) and Maxwell (Southern District of New York) cases. This includes a broad set of DOJ-held files related to Epstein, including: – Investigative materials from Epstein’s cases. – Internal DOJ communications about the investigations. – Files referencing individuals involved in Epstein’s prior cases (e.g., potential “client list” mentions). – Details on sex-trafficking allegations. – Records concerning Epstein’s 2019 death in custody (initially ruled a suicide but long questioned). These materials stem from Epstein’s 2008 Florida plea deal, his 2019 federal charges (which ended with his death), and Maxwell’s 2021 conviction. This targeted unsealing could reveal long-buried details about Epstein’s network, high-profile associates, and DOJ coverups. DOGE https://twitter.com/nicksortor/status/1993106213480112322?s=20 https://twitter.com/disclosetv/status/1993087579105775858?s=20 What is Trump Going to Use It For?The executive order positions the Genesis Mission as a tool to unleash a “new age of AI-accelerated innovation and discovery” to solve 21st-century challenges and maintain U.S. technological dominance. Specifically, Trump intends to use it for: Accelerating Scientific Breakthroughs: By harnessing the world’s largest collection of federal scientific datasets (built over decades) to train AI foundation models and create AI agents that test hypotheses, automate research workflows, and drive discoveries comparable to historical efforts like the Manhattan Project. Combining National Resources: Integrating efforts from American scientists (including at DOE national labs), pioneering businesses, world-renowned universities, existing research infrastructure, data repositories, production plants, and national security sites to achieve dramatic advancements in AI development and utilization. Addressing Key Domains: Focusing on national priorities to revolutionize areas like infrastructure, data management, production, and security; build on innovations in semiconductors and high-performance computing; and secure energy dominance. Economic and Strategic Benefits: Dramatically enhancing workforce productivity, multiplying returns on taxpayer investments in research and development, strengthening national security, and furthering America’s global strategic leadership in technology. Broader Impacts: Enabling AI-directed experimentation, manufacturing, and problem-solving to tackle existential risks and opportunities, while ensuring secure, interoperable systems across government and partners. This initiative is framed as a response to global competition in AI, building on prior actions like America’s AI Action Plan, with an emphasis on urgency to outpace adversaries and foster economic growth. Geopolitical https://twitter.com/nicksortor/status/1993073948704096715?s=20  Second Amendment rights for MILLIONS of Americans,” AG Bondi said https://twitter.com/MJTruthUltra/status/1993094085570126026?s=20  prohibited on private property open to the public unless the owner explicitly opts in. It would establish nationwide that the Second Amendment, post-Bruen, FORBIDS states from inverting the historical presumption—carry is allowed on such property unless the owner affirmatively prohibits it—forcing Maryland, California, New Jersey, New York, and any similar regimes to FLIP their private-property rules and dramatically expand where permit holders may carry for self-defense. It's set to be ruled on likely in June 2026, and to me, it's a GUARANTEED WIN Trump ready to talk with Maduro – Axios US President Donald Trump plans to speak directly with Venezuelan President Nicolas Maduro despite Washington's move to designate him as the head of a terrorist organization, Axios reported on Tuesday, citing administration officials. The US has formally designated the ‘Cartel of the Suns' – a purported criminal network alleged to operate within Venezuela's security services – as a foreign terrorist organization, putting it in the same category as Al-Qaeda and Islamic State. Announcing the step on Monday, the US Treasury reiterated long-standing allegations that Maduro, whose legitimacy Washington disputes, heads the group. Source: rt.com War/Peace https://twitter.com/WallStreetMav/status/1993323843482427656?s=20 EU Approves €1.5BN Plan To Build Up Ukraine’s Military-Industrial Sector Even as the Trump-backed Ukraine peace plan is said to be advancing as negotiations intensify ahead of a Washington-imposed deadline of Thursday, the European Union continues its efforts to ramp up support to Ukraine’s defense sector. On Tuesday European Parliament voted to approve a 1.5 billion euros ($1.7bn) program which seeks to deepen integration between Ukraine and Europe on military-industrial relations.  Source: zerohedge.com Ukraine Tentatively Agrees To Trump-Backed Peace Plan, Sending Oil Sliding A US official privy to negotiations is claiming major progress Tuesday, telling ABC News the Ukrainian delegation has agreed to the United States’ potential peace plan, at a moment it’s still being hotly debated, especially among the Europeans. “The Ukrainians have agreed to the peace deal,” the US official said, but without specifying much in the way of details. “There are some minor details to be sorted out but they have agreed to a peace deal.” Of course, the proverbial devil is in the details, along with each side’s ‘red lines’ – and so this claim should be taken with caution at this still very early point. The Trump White House has set a deadline of Thursday, or Thanksgiving Day in America, for the warring sides to reach a deal. This suggests these talks are moving along with intensity and a sense of urgency. Source: zerohedge.com Proceed Carefully: U.S. Media Reporting Zelenskyy Has Agreed to President Trump Terms for End to Ukraine-Russia Conflict Remember, (1) Zelenskyy is ideologically opposed to coming to terms for a ceasefire against Russia. (2) Zelenskyy has the full support of the European nations to continue fighting. (3) Ukraine has a habit of using positive statements as tools to try and box in President Trump, only to hold firm to certain positions in an effort to derail peace negotiations. Source: theconservativetreehouse.com Medical/False Flags https://twitter.com/disclosetv/status/1993298834714403297?s=20 [DS] Agenda https://twitter.com/amuse/status/1993329083606827182?s=20  defender, acquitted Abdi Fatah Yusuf on all charges after jurors found he and his wife ran a fake home-health business out of a mailbox and stole $7.2M in Medicaid funds. Jurors say they are stunned because the evidence of fraud, overbilling and luxury spending was “obvious.” Community pressure and political considerations are now being blamed for the decision. Yusuf walks free while taxpayers eat the loss. Abdi will get to keep his new wardrobe from Coach, Canada Goose, Michael Kors, Third Degree Heat, Nike, and Nordstrom and his whip a Porsche 911. https://twitter.com/drawandstrike/status/1993178893960851620?s=20 housing.   affiliates in our major cities start going under. Because their cheap illegal labor is no longer going to be affordable. And I’m going to enjoy watching every minute of it. President Trump's Plan https://twitter.com/JoeLang51440671/status/1993319619403169935?s=20  to do anything. “Sen. Rand Paul on Sunday warned that President Donald Trump's focus on Venezuela may lead to a “fracture” among those who were drawn in by his campaign promise of avoiding foreign wars.” “Over the last few months, Trump has launched a campaign to eliminate alleged drug trafficking in international waters near Central and South America, mostly through controversial boat strikes – although he has also floated the idea of taking the strikes to land. On Monday, the Trump administration will officially designate Venezuela's Cartel de los Soles as a foreign terrorist organization – a decision Paul on Sunday criticized. “I think by doing this, they are pretending as if we are at war,” said Paul, chair of the Senate Committee on Homeland Security and Governmental Affairs. “They're pretending as if they've gotten some imprimatur to do what they want,” he warned. “When you have war, the rules of engagement are lessened.” How many years has Rand Paul, been in office and when has he ever lifted a finger to go after the drug cartels? Trump is the first president who is waging a real war against drug cartels worldwide and Rand is doing his best to try and stop him. Trump cares about the millions of Americans who are dying from drug addiction and the families, who have lost loved ones. Rand Paul cares more about the drug cartels. And he's crying because Trump doesn't need him for anything. “Democrats in Congress have also expressed outrage over the strikes and the lack of briefings on the administration's actions – something Paul said he too has not received despite his position on the Senate Homeland Security Committee.” “I've been given zero, not one briefing because I am skeptical of what they are doing,” Paul said. “They don't brief me or the general Senate at all. A few hand-selected people may have gotten a briefing but I have not been invited to any briefings on Venezuela.” Why isn't Trump briefing Rand Paul or the democrats? Because you don't brief your enemies on your plans, when you are engaged in war. Rand Paul is nothing but a grandstanding politician and he can't stand the fact, that Trump ignores him and doesn't need him for anything. Do you want to know why else, Trump doesn't listen to him about fighting drug cartels? Here's Rand's solution to the problem: “Paul conceded that the flow of drugs into the country remains an issue but insisted that the government should focus on eliminating the demand for drugs here at home. “We should be trying to work on the demand side, treating it as a health problem, as an addiction problem in our country and trying to lessen demand. And that is part of the overall solution,” he said.” https://politico.com/news/2025/11/23/rand-paul-gop-venezuelan-strikes-00666488 To Rand Paul, millions of Americans dying from “illegal” drugs is just an “issue.” He thinks the solution is to pass legislation that takes more money from the American taxpayer and puts a bandaid on the problem. Trump on the other hand, is enforcing the laws already on the books and waging war against narco drug trafficking states that are clearly killing Americans for profit. We don't need Rand Paul in the Republican Party. He's only trying to get in the way and slow down Trump's efforts to Make America Great Again. The sooner he is removed from Congress the better.  Marjorie Taylor Greene's Resignation Could Spark Another Shutdown Rep. Marjorie Taylor Greene's (R-GA) resignation from Congress could handicap Republicans in a critical period during which government funding expires, with dire consequences for the MAGA movement. Georgia law dictates that within ten days of a congressman's resignation, the state's governor must call a special election to take place after at least 30 days from his pronouncement. If no candidate wins a majority in the jungle election (during which all candidates run against one another regardless of party), a runoff with the top two vote-getters takes place 28 days later. By prolonging her election, Greene all but assures her seat will be empty during a period where Trump and Speaker Mike Johnson (R-LA) — and the American people dependent on a functioning federal government — may need every vote they can get. Greene, by prolonging her resignation for a month and a half, removes much of the urgency of scheduling a special election. Georgia political operatives project Kemp to set a date in March. Source: breitbart.com Vindman Brothers, Who Helped Impeach Trump In 2020, Are Now Under Investigation Rep. Eugene Vindman, D-Va., and his twin brother Alexander are reportedly under investigation for illegally acting as “paid brokers” for U.S. defense firms seeking business in Ukraine. “Pentagon General Counsel Earl Matthews alleges that Vindman and his twin brother Alex did not have approval from the U.S. government before seeking to act as ‘paid brokers' for American defense firms pursuing contracts with Ukraine after Russia's 2022 full-scale invasion,” the Washington Post revealed over the weekend, citing a Nov. 19 letter for War Secretary Pete Hegseth.   https://twitter.com/YVindman/status/1992069421372985528?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1992069421372985528%7Ctwgr%5E5f28cda2d29a3d17d474e14a7cdd0e88aa077fe9%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.zerohedge.com%2Fgeopolitical%2Fvindman-brothers-who-helped-impeach-trump-2020-are-now-under-investigation Source:zerohedge.com https://twitter.com/mrddmia/status/1993025823268651228?s=20  application and committed bank fraud. The prior U.S. attorney refused to prosecute these Democrat operatives. So the Attorney General picked a new one who is unafraid to follow the law. What is the Democrats' response? Unsurprisingly, an Obama judge hand-selected a Clinton judge. Then the Clinton judge tossed both indictments. And the first sentence in both nearly identical orders, in which the Clinton judge personally and gratuitously attacks Lindsey Halligan, makes it crystal clear this judge is a Democrat partisan. Democrat politicians, including in robes, shamefully protect their own. Unfortunately, we have two systems of justice. One Democrats weaponize against enemies. And one Democrats weaponize to protect allies. The Justice Department must appeal. And it must move aggressively to bring charges against the Lawfare Democrats in Fort Pierce, Florida. https://twitter.com/julie_kelly2/status/1993096660734689379?s=20 https://twitter.com/WarClandestine/status/1993064224420249957?s=20 https://twitter.com/mrddmia/status/1993348171221659741   the Senate Judiciary Committee. Because too many Republicans would vote NO. Home-state senators do not want to give away their power to hand-select the U.S. attorney who would prosecute them, the U.S. district judge who would oversee their trial, and the U.S. marshal who would escort them to prison. The solution is simple: Have all Senate Judiciary Republicans and at least 50 Senate Republicans sign a letter saying this: “We will vote to confirm President Trump’s U.S. attorney nominees who lack blue slips from home-state senators.” Then Grassley can move forward with a committee vote. But why would Grassley anger all his colleagues and waste limited committee resources, if the nominees will fail? https://twitter.com/DataRepublican/status/1993291465137831953?s=20 https://twitter.com/C__Herridge/status/1993308443667472479?s=20 Kash Patel Talks In Depth About Attempted Trump Assassin And His Motives FBI Director Kash Patel told investigative journalist Catherine Herridge that hatred for the U.S. government and the two-party system played a role in Thomas Matthew Crooks' attempt to assassinate President Donald Trump on July 13, 2024 in Butler, Pa. Herridge asked Patel what motivated Crooks, 20, to try to kill Trump, then the presumptive Republican presidential nominee. Patel's answer appeared to depart from previous FBI statements when bureau officials said they were unable to find a motive or ideology behind the assassination attempt. The FBI director — appearing on Herridge's show “Straight to the Point” by the Los Angeles Times Media Group — told her that Trump was “satisfied” with his agency's investigation into that fateful day. Patel stopped short of saying the case was closed. “He [Crooks], as has been publicized, had a basically hateful relationship with the United States government, talked disparagingly about both political parties, to include President Trump, and talked about the need to take matters into his own hands. And, unfortunately, that's what he did,” Patel said when Herridge asked about Crooks' motive.  Patel was later asked if Trump was satisfied with the FBI's findings regarding the July 2024 assassination attempt. He emphatically responded “yes.” Herridge asked Patel, “Is the Thomas Crooks case a closed case?” “How we treat cases like this of such great public importance is we put them in a pending-slash-inactive status, so if there's new information that comes in, we can receive it and react to it, and we don't want to foreclose that possibility,” the director said. Source: dailycaller.com https://twitter.com/amuse/status/1993323400173887975?s=20   like the Kuwait Liberation Medal, Southwest Asia Service Medal, and National Defense Service Medal sit in more prominent inboard positions. On the ribbon bar, the Armed Forces Expeditionary Medal and Sea Service Deployment Ribbon are placed ahead of higher-precedence decorations such as the Air Medal and Navy Commendation Medal. On the medal cluster below, the Legion of Merit and Air Medal are buried beneath service medals like the NATO Medal and National Defense Service Medal, which should be near the bottom of the stack. These reversals violate Navy precedence rules requiring the highest honors to appear inboard and for full-size medals to match the order of their corresponding ribbons. https://twitter.com/overton_news/status/1993150617770996056?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1993150617770996056%7Ctwgr%5E44d0521508949894625558b46595b8eb2aec23cc%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fredstate.com%2Fsister-toldjah%2F2025%2F11%2F25%2Fmark-kelly-makes-a-damning-admission-when-asked-specifically-about-illegal-orders-n2196541   specific, potentially illegal orders that you were thinking about that were the sort of precipitating cause for you guys to get together and do that?” KELLY: “Here's the thing, Rachel. You don't want to wait for your kid to get hit by a car before you tell them to look both ways.” In other words, no examples and no specifics. https://twitter.com/amuse/status/1993282070152724582?s=20 https://twitter.com/Breaking911/status/1993345626067853800?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1993345626067853800%7Ctwgr%5Eca09c94a37f7c22b3856e0c640694000c3fafa26%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fredstate.com%2Fnick-arama%2F2025%2F11%2F25%2Ffbi-to-interview-the-six-democrats-who-made-illegal-orders-video-n2196542 https://twitter.com/CynicalPublius/status/1993367383281746424  the lower ranks of the nation's military against said elected leadership. https://twitter.com/JoeLang51440671/status/1993138036385701971?s=20   confirmed plans to designate the Muslim Brotherhood (MB) as a foreign terrorist organization (FTO), the White House formally announced on Monday evening that the president has initiated the process to classify specific chapters and subdivisions of MB as FTOs.” “Trump’s order cites MB’s violent activities and support for militant factions, including participation in attacks on Israeli civilians and military targets after October 7, 2023, as well as calls for violence against U.S. allies. These actions, the order says, threaten American citizens and destabilize the Middle East.” https://zerohedge.com/political/trump-tells-john-solomon-muslim-brotherhood-terrorist-designation-imminent Do you think it's just a coincidence, that Mamdani just met with Trump at the White House and the meeting was nothing like what anybody expected? Instead of the meeting being tense, Trump and Mamdani were joking around and acting like old friends. Both willing to work together for the benefit of the people in New York. And now Trump just designated the group that was one of Mamdani's biggest fundraisers, as a terrorist organization. Just a coincidence? The ball is now in Mamdani's court. Trump proved to the world, by how he treated Mamdani, that what he really cares about, are the people of New York. Is Mamdani going to work with Trump, or choose to be a puppet of the Muslim Brotherhood? Mamdani now gets to choose which side he is on. https://twitter.com/WhiteHouse/status/1993079037611397563?s=20 President Trump Recognizes Certain Muslim Brotherhood Chapters for Potential Foreign Terrorist Designation The Muslim Brotherhood is the political arm of authentic Islam, and can be considered much like the umbrella organization for a host of different factions of Islamic fundamentalism. The Brotherhood is the unified political voice of many regional chapters, each with a varying degree of authentic Islam behind it. Qatar is the central bank for the Muslim Brotherhood; Turkey represents the Brotherhood's biggest national support network, and Egypt is the intellectual or scholastic battleground where the values of political Islam are debated. The executive order instructs the State Dept to officially begin the process to look at each chapter of the Muslim Brotherhood as a separate entity, and then see if the designation of a terrorist organization can apply to that chapter. As noted in the Executive Order, “relevant here, its chapters in Lebanon, Jordan, and Egypt engage in or facilitate and support violence and destabilization campaigns.”  It looks like Lebanon, Jordan and Egypt chapters of the Brotherhood will get the first review. Egyptian President Abdel Fattah al-Sisi already dealt with the extremist Muslim Brotherhood once, kicking their leadership out of Egypt.  The leaders fled to Qatar, and then ultimately ended up in Turkey, where Recep Erdogan absolutely loves the usefulness of the Brotherhood. Jordanian King Abdullah has been balancing the Muslim Brotherhood influence for years, and Lebanon is a hot mess with the Hezbollah faction of the Brotherhood.  The Muslim Brotherhood, as a political structure, holds all kinds of extremist factions under its umbrella (al-Qaeda, al-Nusra etc.).   Source: theconservativetreehouse.com 1237 Apr 22, 2018 1:31:31 AM EDT Q !xowAT4Z3VQ ID: 3e4934 No. 1141069  “The process of settlement is a ‘Civilization-Jihadist Process' with all the word means. The Ikhwan [MUSLIM BROTHERHOOD] must understand that their work in America is a kind of grand jihad in eliminating and destroying the Western civilization from within and ‘sabotaging' its miserable house by their hands and the hands of the believers…” https://clarionproject.org/muslim_brotherhood_explanatory_memorandum/ Q 3881 Feb 24, 2020 8:36:43 PM EST Q !!Hs1Jq13jV6 ID: b03e04 No. 8238822  EMHyS2xXkAA8JrB.png https://twitter.com/cain_nate/status/1231066589996318720 Listen carefully. Think: re: why [no] arrests (justice) yet? What if (almost) every critical position [sr] within the US GOV apparatus was infiltrated? WHAT MUST BE DONE FIRST? THE SWAMP RUNS DEEP. +Sleepers Backgrounds are important. MUSLIM BROTHERHOOD List of ‘in the news now [names]‘ w/ known ties to Islam? THIS IS NOT ANOTHER 4-YEAR ELECTION. [assumptions correct – package well rec [known]] Q (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:13499335648425062,size:[0, 0],id:"ld-7164-1323"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="//cdn2.customads.co/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");

Wall Street extended its rebound overnight as investors looked ahead to the Thanksgiving holiday and grew more confident in a December rate cut. US Treasury yields eased, with the 10-year slipping below 4% as Hassett emerged as the frontrunner for the Fed’s top job. In stocks, Nvidia fell as its rivalry with Google intensified, while Abercrombie's stock surged despite a general retail pullback. In commodities, oil declined as ongoing Ukraine–Russia talks raised expectations of improved supply. Back home, Aussie shares are expected to extend gains on Wednesday, with key inflation data and New Zealand’s rate decision in focus. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.

To fill NY Assembly seat Zohran Mamdani endorses a woman who believes that 9/11 should be blamed on America. Just down the eastern shore, Trump hosted a potentate, who, according to the CIA, is responsible for the death of journalist Jamal Khashoggi. Mount Rainer about to erupt. Four morons try to cash a stolen $27 million dollar US Treasury check. Will Dearborn, MI, be ground zero between Christianity and Islam? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Trader, writer, and Spicy Italian Meatball (!!) Vince Lanci returns to the podcast to close the loop on our now three-year financial & geopolitical bromance which began with the help of the equally great, but not nearly as spicy Tom Bodroviks then of Palisades Gold Radio and now Competent Investor, when we first discussed the idea of Gold-backed US Treasury bonds, as promoted by Judy Shelton.Vince and I cover the implications for the further coalescing of a Russian / Chinese / American currency and bond trade which combines the best that all three countries have to offer to a world which cuts out the City of London, Brussels, the BIS, and, of course, Davos.It's a wild ride.... Vince never disappoints.Show Notes:Vince on XVBL's GoldFixTom on XGGnG on Patreon 

Why do profitable giants like Apple and Amazon report billions in earnings yet often pay surprisingly low effective tax rates (ETR)? On this episode of Corporate Finance Explained on FinPod, we pull back the curtain on corporate tax strategy, focusing on legal optimization and the strategic levers finance teams use to manage this massive cash outflow. Listen in to learn how taxes are not just a cost, but a manageable and critical strategic function.The Corporate Tax Playbook: 5 Key LeversFinance teams at multinationals use a sophisticated toolkit to legally minimize their ETR, often utilizing government-built policy incentives:Tax Deductions and Credits: Maximizing credits for R&D investment and strategically using accelerated depreciation to generate short-term cash flow benefits.Transfer Pricing: The controversial method of setting internal prices for goods and intellectual property (IP) traded between subsidiaries. The goal is to allocate more profit to low-tax jurisdictions while adhering to the arm's length standard.Holding Structures: Parking high-value assets (like core IP/patents) in subsidiaries based in low-tax jurisdictions (e.g., Ireland, Luxembourg) to have associated royalties taxed at a lower rate.Deferred Tax Assets: Booking tax benefits now that relate to future profits or past losses, providing financial flexibility.Corporate Inversions: The ultimate move of changing a company's legal home to a lower-tax country (largely curtailed by 2017 US regulations).Real-World Pitfalls and Regulatory ChallengesOptimization is a tightrope walk. We examine where legal planning clashes with public opinion and regulatory pressure:Apple and the EC: A stark example of a legal structure being challenged retroactively as illegal state aid by the European Commission, forcing the company to pay back billions.Starbucks in the UK: Faced massive reputational risk and boycotts because of paying almost no corporation tax, despite generating high sales, by using large transfer pricing royalty payments to a Dutch subsidiary.Pfizer and Policy Risk: The company's multi-billion-dollar inversion strategy was instantly killed by a sudden US Treasury change in administrative rules, demonstrating how policy shifts can wreck financial models.Amazon's Strategy: A focus on maximizing R&D deductions and using geographical allocation to book operating costs in high-tax countries while recognizing profit in lower-tax jurisdictions.The Modern Tax Mandate for FinanceThe focus has shifted from mere compliance to strategic resilience. The modern tax mandate requires a global, proactive approach:Align Tax with Business Strategy: The tax structure must support real business activity and have economic substance; structures built purely for tax avoidance are major red flags.Focus on Cash Taxes: Finance must rigorously forecast cash taxes paid out the door, not just the accounting tax expense, as cash flow impacts liquidity and valuation.Rigorous Documentation: Meticulous records and data are the best defense against audits for complex intercompany policies like transfer pricing.Monitor Global Trends (BEPS): Understanding the OECD's BEPS (Base Erosion and Profit Shifting) initiative and the push for a 15% global minimum corporate tax rate is essential, as it fundamentally undermines traditional low-tax strategies.

Markets turned risk-off after early optimism. European stocks reversed gains, with the STOXX 600 down 0.6%. In the US, hawkish Federal Reserve comments erased the relief rally: the Nasdaq dropped 2.3%, Bitcoin fell back below USD 100,000, and gold eased slightly. Odds of a December rate cut slipped to 50% following remarks by several Fed members, lifting US Treasury yields. US president Trump plans tariff cuts on food imports to tackle inflation. Brent crude rebounded from midweek losses. The dollar softened, the Swiss franc strengthened, the yen hit a record low against the euro, and sterling remains volatile. Weak Chinese data weighed on Asian equities, led by technology losses. Tim Gagie, Head of FX Advisory Geneva, highlights that precious metals are trading with equity-like dynamics, the CHF goes from strength to strength, while the Japanese yen is under pressure.(00:00) - Introduction: Bernadette Anderko, Product & Investment Content (00:28) - Markets wrap-up: Mike Rauber, Product & Investment Content (06:30) - FX and metals update: Tim Gagie, Head of FX Advisory Geneva (10:51) - Closing remarks: Bernadette Anderko, Product & Investment Content Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

Danny Moses hosts Luke Gromen, founder of Forest for the Trees, on the On the Tape Podcast. In this episode, they discuss the SRF and SOFR rates, recent stresses in the repo markets, and the US Treasury's actions to alleviate funding issues. Luke explains the systemic risks in the financial system, the influence of hedge funds in the US Treasury market, and compares the current repo market scenario to 2019's market upheavals. The conversation shifts to the implications of AI on jobs and the economy, potential credit market disruptions, and the sustainability of the AI CapEx cycle. They delve into the geopolitical dynamics with China, the critical role of rare earths, and the delicate balance in the US-Japan economic relations. The episode concludes with a discussion on gold as a strategic asset, Bitcoin's potential, and the future of monetary policy amid fiscal dominance and inflation.--ABOUT THE SHOWFor decades, Danny has seen it all on Wall Street and has built his reputation on integrity, curiosity and skepticism that he will bring with him each week. Having traded through the Great Financial Crisis and being featured in "The Big Short" is only part of the experiences Danny wants to share with the listener. This weekly podcast cuts through market noise, offering entertaining and informative discussions with expert guests giving their views of the financial world and the human side of it. Whether you're a seasoned investor or just getting started, On The Tape provides something for all listeners.Follow Danny on X: @dmoses34The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content.Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in 'On The Tape' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose.Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service. Hosted on Acast. See acast.com/privacy for more information.

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger Picture Fed Miran is pushing for another rate cut. Secretary Burgum says lower energy prices means lower prices. This is how Trump battling the [CB] inflation machine. Elon explains debt slavery. Trump is building the golden age and bringing us back to sound money and the constitution.  The FBI/DOJ are handling multiple investigations behind the scenes. They just release the Clinton Corruption Files. These files show how the Clinton's accepted money from foreign groups in a pay to play scheme. It has begun the people will begin to learn who has been treasonous to this country. Trump is in the process of constructing a new America. The [DS] tried to destroy it and now Trump is building a new one.   Economy (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); Fed's Miran Pushes Another Rate Cut. A Smaller Move Could Be Enough.  Federal Reserve governor Stephen Miran said Monday he could support a quarter percentage-point rate cut at the Fed's December meeting, even though he continues to see a stronger case for a half-point move. Source: barrons.com https://twitter.com/RapidResponse47/status/1987969323508363295?s=20 https://twitter.com/drawandstrike/status/1988263397012500691?s=20   laundering. They showed it to you and then they shut it down. NGOs the world over getting unverified, often untraceable, no-questions-asked disbursements from the US Treasury. To the tune of hundreds of billions a year. This was ON TOP OF the billions they were sending to Ukraine and about 60 other countries as 'foreign aid'. They extract a massive amount of wealth from the American public yearly. Around $2 trillion, I think. Then, they used the US Treasury payment system to disburse over 100 billion/year to their NGOs around the world to launder that money to themselves. This was probably one of the BIGGEST revenue streams they had. And it was the first one Trump and the DOGE boys cut earlier this year. When this was happening, you had the lawmakers in Congress and former presidential administration officials SCREAMING at Trump and Bessent to turn the USAID and other NGO disbursements back on. You don't hear much of their whining anymore. They know it's not going to happen. Trump got the US federal government to a surplus in 2 of the past 10 months. I guarantee you NONE of the rat bastards who's carefully constructed taxation-and-theft system he's destroying saw this coming a year ago. And that's a beautiful thing.  https://twitter.com/EricLDaugh/status/1988243440685977644?s=20   was caused by the big deficit spending." "So as you bring down deficit spending, inflation will come down. Right now, we've taken substantial tariff income over time that will rebalance as the factories move to the U.S. and that will become the corporate income or wage income - and by bringing down the budget deficit, we are bringing down inflation!" Scott is setting the record straight   https://twitter.com/NewsTreason/status/1988113088449487254?s=20 terms of investment, from the tariffs." Notice he didn't say “stimulus” he said “dividend”….  DIVIDEND: A dividend is a payment made by a corporation to its shareholders, usually in the form of cash or additional shares of stock.

Crypto News: Scott Bessent says the US Treasury and IRS approve staking in crypto ETFs. The Senate Agriculture committee has released its long-awaited bipartisan crypto market structure discussion draft.Brought to you by

Tariffs imposed under the International Emergency and Economic Powers Act (IEEPA) account for about 9.5pp of our estimated 14.7pp effective tariff rate after the reduction in fentanyl tariffs on China. Therefore, the Supreme Court's decision could have important implications for activity, inflation, deficits, debt, interest rates, and the dollar. We discuss risks and scenarios after the oral hearings. As expected US Treasury maintained nominal coupon sizes unchanged but also did not guide towards higher bill share. Instead guidance suggests appetite to grow coupon supply in 2027. We discuss scenarios and implications for the US rate and spread curve.   You may also enjoy listening to the Merrill Perspectives podcast, featuring conversations on the big stories, news and trends affecting your everyday financial life.   "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2025 Bank of America Corporation. All rights reserved.

Crypto News: Ray Dalio warns Fed is stimulating the economy into a bubble and assets like crypto will pump. Banks lobby US Treasury for blanket stablecoin yield ban, Coinbase pushes back. Brought you by

Argentina's Economic Challenge: The Overvalued Peso Guest: Mary Anastasia O'Grady Mary Anastasia O'Grady discusses Argentine President Javier Milei's surprising electoral success but highlights the overvalued peso as his most significant challenge. The peso's artificial strength is maintained by US Treasury support through a $20 billion swap line and direct intervention, preventing investors from entering the market. O'Grady argues that Milei must allow the peso to float and eventually dollarize the economy, urging him to "rip the band-aid off" and accept the resulting short-term inflation. 1930 ARGENTINA

US Treasury secretary Scott Bessent has one of the hardest jobs in recent history. He has to implement bizarre economic strategies and keep rational market players calm. Today on the show, Rob Armstrong and Katie Martin discuss Bessent's balancing act. Also they go long depreciation expense and short predictions about gold. For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.You can email Robert Armstrong and Katie Martin at unhedged@ft.com.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Crypto News: Bitcoin pumps past $115,000 as US Treasury chief Bessent says 'substantial' trade framework with China reached. XRP Ledger Validator Sees NFT-to-NFT Trading Potential in Proposed 'Batch' Amendment. Solana's Marinade Labs CEO Eyes Lower Barrier to Entry for Validators After 'Alpenglow' Upgrade.Brought to you by

US Attorney Lindsey Halligan takes a break from prosecuting Jim Comey for leaking to reporters to … leak to reporters. Jim Comey noticed, and so did New York Attorney General Tish James. The Ninth Circuit blesses Trump's invasion of Los Angeles. There is gambling in basketball. We are shocked, SHOCKED! And Trump demands $230 million from US Treasury.   Links:   O'Hara v. Beck (Star Wars Music) https://storage.courtlistener.com/recap/gov.uscourts.dcd.286143   “Anna, Lindsey Halligan Here.” https://www.lawfaremedia.org/article/anna--lindsey-halligan-here   US v. Ramirez (Challenge to appointment of US Atty Bill Essayli) https://www.courtlistener.com/docket/71166841/united-states-v-ramirez/?order_by=desc   US v. Tish James https://www.courtlistener.com/docket/71601419/united-states-v-james/?order_by=desc   US v. James Comey https://www.courtlistener.com/docket/71459121/united-states-v-comey/   US v. Aiello (NBA indictment 1 - poker cheating) [docket via CourtListener] https://storage.courtlistener.com/recap/gov.uscourts.nyed.537409/gov.uscourts.nyed.537409.1.0_2.pdf   US v. Earnest (NBA indictment 2 - basketball cheating) [indictment via New York Times] https://www.nytimes.com/interactive/2025/10/23/nyregion/nba-betting-scheme-indictment.html?unlocked_article_code=1.vk8.BGFB.maF0MnGV9jLM&smid=url-share   Show Links: https://www.lawandchaospod.com/ BlueSky: @LawAndChaosPod Threads: @LawAndChaosPod Twitter: @LawAndChaosPod  

Get the stories from today's show in THE STACK: https://justinbarclay.comJoin Justin in the MAHA revolution - http://HealthWithJustin.comProTech Heating and Cooling - http://ProTechGR.com New gear is here! Check out the latest in the Justin Store: https://justinbarclay.com/storeKirk Elliott PHD - FREE consultation on wealth conservation - http://GoldWithJustin.comTry Cue Streaming for just $2 / day and help support the good guys https://justinbarclay.com/cueUp to 80% OFF! Use promo code JUSTIN http://MyPillow.com/JustinPatriots are making the Switch! What if we could start voting with our dollars too? http://SwitchWithJustin.com

It won't be easy, and you'll think it's strange, when we try to explain … why US Treasury secretary Scott Bessent is suddenly reversing all current US policy and proposing to send billions of dollars to Argentina. Today on the show, Katie Martin, Rob Armstrong and the FT's Latin America editor Michael Stott discuss Javier Milei's cry for help. Also they go long renaissance composer Palestrina and professional wrestling. For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.You can email Robert Armstrong and Katie Martin at unhedged@ft.com.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

This week we talk about trade wars, TACO theory, and Chinese imports.We also discuss negotiation, protectionism, and threat spirals.Recommended Book: More Than Words by John WarnerTranscriptIn January of 2018, then first-term US President Trump announced a slew of tariffs and trade barriers against several countries, including Canada, Mexico, and those in the European Union.The most significant of these new barriers and tariffs were enacted against China, though, as Trump had long claimed that China, the US's most important trade partner by many measures, was taking advantage of the US market; a claim that economists tepidly backed, as while some of the specifics, like those related to intellectual property theft on the part of China, were pretty overt, the Chinese government fairly brazenly gobbling up IP and technology from US companies that do business in the country before hobbling those US interests in China and handing that IP and technology off to their own, China-born copies, claims about a trade deficit were less clear-cut—most of those sorts of claims seemed to be the result of a misunderstanding about how international trade works.That said, Trump had made a protectionist stance part of his platform, so he kicked off his administration by imposing a package of targeted tariffs against specific product categories from China, including things like solar panels and washing machines. Those were followed by more tariffs on steel and aluminum—from a lot of countries, not just China—and this implementation of trade barriers between the US and long-time trade partners, which had mostly enjoyed barrier-free trade up till that point, kicked off a trade war, with the Trump administration announcing, out of nowhere, new tariffs or limitations, and the country on the pointy end of that new declaration announcing their own counter, usually something the US sells to their country, while in the background, both countries tried to negotiate new trade terms on the down-low.There was a lot of tit-for-tatting in those first couple years of the first Trump administration, and they led to a lot of negotiations between the US government and these foreign governments, which in turn led to the lifting of many such barriers, though the weaponization of barriers continued, with the administration, for instance, announcing a tariff on all imports from Mexico until the Mexican government was able to halt all illegal immigration coming into the US; negotiation ended that threat, too, but this early salvo upset a lot of the US's long-time allies, while also making it clear that Trump intended to open negotiations with these sorts of threats, whenever possible—which had the knock-on effect of everyone taking the threats pretty seriously, as they were often incredibly dangerous to specific industries, while also taking them less seriously because it was obvious they were intended to be a negotiating tactic.When Trump left office, a bunch of international relationships had been scarred by this approach to trade deals, and when Biden replaced him, he dropped most of the new tariffs against long-time allies, but kept most of the China tariffs in place, especially those related to green technologies like electric vehicles and semiconductors, the local-made versions of which were becoming a big focus for the Biden administration. The administration then went on to expand upon those tariffs, against China, in some cases.What I'd like to talk about today is how this approach to trade protectionism and negotiation has ballooned under the second Trump administration, and what a new threat against China by Trump might mean for how the relationship between these two countries evolves, moving forward.—Trump's second administration opened with an executive order that declared a national emergency, claiming that the Chinese were trafficking drugs, especially synthetic opioids like fentanyl, into the US, and that this allowed criminals to profit from destroying the lives of US citizens.This declaration allowed him to unleash a flurry of tariffs against China, first imposing 10% on all Chinese imports, then increasing that to 20% in March of 2025.China retaliated, imposing tariffs of 15% on mostly US energy products, like coal and natural gas, and on some types of agricultural machines, while also engaging in some legal pressure against US companies, like Google. They followed this up with tariffs against meat and dairy products, and suspended US lumber import rights, and disallowed three US firms from selling soybeans to China.The US reciprocated, and China reciprocated back. There was a period of spiraling broad tariffs and import bans in the mid-2025 between the US and China, which led to an aggregate baseline tariff on Chinese imports of 104%, which was followed with an aggregate Chinese baseline tariff against US goods of 84%. The US then upped theirs to 145%, and China raised theirs to 125%.Again, vital to understanding this spiral is that the Trump administration made pretty clear that they were doing this mostly as a negotiating tactic. There were claims that they could solve the US deficit by raising tariffs so high that the funds from those tariffs would pay off the country's debt, but that's generally not considered to be realistic. Instead, the consensus view is that Trump likes to play negotiating hardball, likes to step into negotiations with the upper-hand, being able to say, give me what I want and I'll reduce the pain you're experiencing, basically, and this play against China was another attempt to make that kind of advantage stick.China, for its part, seemed like it was done with the posturing at that point, though: it announced, after its retaliatory tariffs reached 125%, that it would simply ignore all further increases on the US government's side, because the whole thing is just kind of a joke and it's beneath them to keep playing this game.Not long after that, Trump announced that the tariffs against China would come down substantially, but not to zero; Trump said this was decided after discussions with China, and Chinese officials said they hadn't been in contact with the Trump administration about any of this—which is something that seems to happen quite a bit with the Trump administration.During this period of spiraling trade barriers, China was able to establish better and more open trade agreements with other nations in Southeast Asia, including South Korea and Japan. China also reduced it US Treasury holdings, reducing its exposure to the US economy at a moment in which the US government was betting big on policy that many economists considered to be ham-handed at best, completely nonsensical, delusional, and harmful at worst.During that spiral, before things cooled off, China also began applying protections on locally sourced and refined rare earths, which are a category of mineral that are vital for modern electronics and things like solar panels, batteries, semiconductors, and electric vehicles.China makes and owns the rights to the vast majority of the current global supply of these materials, mining about 70% of them and controlling about 90% of global processing. And cutting them off, or even truncating their flow, is considered to be a huge strategic threat. The US has been slowly investing in alternative supplies for such things, but many of them are difficult or expensive to produce in the proper volume, and it'll likely be a decade or more before those alternative sources can be properly exploited, replacing the volume currently imported from China.Back in June, China granted permits to US businesses that would be allowed to import rare earths, but that supply remained tenuous—a bit of a counter to Trump's ongoing tariff threats that could seemingly arise out of nowhere, messing up everyone's plans. The Chinese seemed to want to leverage this supply in the same way, and keeping things limited while issuing a few permits meant the flow could kind of continue, but could also be slowed or cut off, again, at a moment's notice.In early October, the Chinese government announced new curbs on the export of rare earths and related technologies, just three weeks before a scheduled meeting between Trump and Chinese leader Xi Jinping. These new curbs further limited what could be imported to the US, even if there were intermediary nations involved, and also tightened their grip on anything related to mining, smelting, recycling, and producing products, like powerful magnets, from such materials.It's worth mentioning here, too, that these sorts of materials are increasingly vital for the production of high-tech military goods. If the US were to lose access to sufficient volumes of them, the US military would have a very hard time making missiles, replacing satellite components, building tanks and drones—it would give China a significant advantage, probably for years, in terms of upgrading and maintaining their military hardware.Despite that, and despite the US government's claims that it intended to replace Chinese sources of these materials, theoretically limiting Chinese leverage in these upcoming talks, progress in that department has been minimal, so far; about a billion dollars worth of investment in rare earths supply chains were announced over the past year or so, but further investment is considered to be unlikely in the near-future, and it'll be a while before these investments will pay off, if they ever do.Shortly after that announcement by the Chinese, President Trump threatened to enforce a new 100% tariff on Chinese imports, beginning on November 1, or potentially even sooner, raising tariff levels to just shy of what they were back in April of 2025, at the peak of the US-China trade protectionism threat-spiral.He also said he didn't see any reason to meet with Xi if they were going to limit rare earths in this way, but later clarified that the meeting hadn't been cancelled, and said that he set the implementation date for that new threatened tariff rate to Nov 1 because that would give the Chinese the opportunity to back down on their new trade barriers before they chatted.Global markets, which are sometimes a good barometer for how informed folks think these sorts of negotiations will play out, have been relatively calm about all this, though there have been some significant tumbles in the US market, including a recent drop of about 2.7% for the S&P 500, marking the worst day for the US market since April, back when the tariff threats last reached this kind of peak.One stance that's become popular in trading circles over the past year is the so-called TACO theory, which stands for Trump Always Chickens Out; the idea being that Trump is never really serious about any of these threats, he just likes to talk a big game and then hopes the other side will feel threatened enough to give him what he wants during negotiations—but if they don't, he steps back from all his big talk and quietly gives in to the other side, especially if they have leverage.Some analysts are assuming that's what's happening now, as evidenced by Trump's own statements about giving China the chance to deescalate—giving them specific instructions for how to let things calm down, rather than making these threats and suggesting they're permanent, or not giving the other side any rationale for why it's happening.There's a chance, though, that there's some truth to the opposing theory that this is part of a larger plan by the Trump administration to create a new trade war that's meant to dominate headlines and concerns for a while, maybe as far into the future as next year's elections, all of which is meant to conceal other efforts by the administration, like the military occupancy of American cities and the administration's vehement objection to releasing the so-called Epstein files, which allegedly contain many references to Trump and other powerful people within his administration, which in turn would further connect him to a renowned pedophile.The Republican-controlled congress has made a massive effort to keep those files from being released, and Trump has become well-known for saying and doing headline-grabbing things whenever something inconvenient for him starts bubbling up in the news.So while there's a chance this back-and-forth will end just before those upcoming trade talks, both sides taking their fingers off the trigger, as it were, in order to make a deal, there's also a chance elements of this will be spun into a larger narrative, a war of sorts meant to dominate headlines and conceal other things that the administration would prefer to keep off the front page.Show Noteshttps://apnews.com/article/rare-earths-china-united-states-trade-supply-chain-de92222cda02dc85064c697911c6dea7https://apnews.com/article/tariffs-timeline-trade-war-trump-canada-mexico-china-a9d714eea677488ef9397547d838dbd0https://www.scmp.com/economy/china-economy/article/3318694/china-cuts-us-treasury-holdings-third-month-amid-trade-war-debt-ceiling-fearshttps://apnews.com/article/china-us-trump-tariff-threat-trade-talks-cc4bd30c3b1bcf2eb2676bc0e66efba0https://apnews.com/article/trump-inflation-federal-reserve-powell-88358f4955fd86ef3c86f5e8e089e775https://apnews.com/article/trump-xi-tariffs-china-ai-642b042b1ebe1d1930eb93bf51943e3fhttps://apnews.com/article/trump-xi-china-cc47e258cfc6336dfddcc20fa67a3642https://apnews.com/article/china-earths-exports-trump-dad99d532f858f04d750d0b8c50e5ed6https://time.com/7292207/us-china-trade-war-trump-tariffs-timeline/https://en.wikipedia.org/wiki/China%E2%80%93United_States_trade_warhttps://en.wikipedia.org/wiki/Tariffs_in_the_first_Trump_administrationhttps://www.piie.com/research/piie-charts/2019/us-china-trade-war-tariffs-date-charthttps://www.wsj.com/economy/trade/trumps-fresh-tariff-assault-threatens-chinas-fragile-economy-d0b3a00dhttps://www.bbc.com/news/articles/cn828kg8rmzo This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit letsknowthings.substack.com/subscribe

The Israeli government approved the US-brokered deal for a ceasefire and hostage release in Gaza, the US Treasury has intervened in Argentina's currency market, and Danish offshore wind developer Ørsted plans to cut about a quarter of its workforce. Plus, the FT's Katie Martin explains why the good vibes in the markets are really just investors running on fumes. Mentioned in this podcast:Israeli government approves Gaza ceasefire deal and hostage releaseØrsted to cut quarter of workforce after US setbacksUS Treasury intervenes in Argentina's currency marketBrace for a market melt-upToday's FT News Briefing was produced by Josh Gabert-Doyon, Sonja Hutson, and Marc Filippino. Our show was mixed by Kent Militzer. Additional help from Michael Lello and David da Silva. The FT's acting co-head of audio is Topher Forhecz. The show's theme music is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

HEADLINE: Latin American Political Volatility and US Engagement GUEST NAME: Evan Ellis SUMMARY: John Batchelor speaks with Evan Ellis about political instability across Latin America. In Argentina, peso volatility reflects investor doubts about President Milei's survival following election losses and corruption scandals. Despite strong economic fundamentals (poverty reduced to 32%, 3% growth), the US Treasury provided unprecedented support with a $20 billion swap agreement. In Venezuela, Maduro's illegitimate regime lost overwhelmingly to Edmundo Gonzalez in July 2024. The US deployed eight ships and considers limited strikes against the "Cartel de los Soles" leadership. Brazil's Lula might offer Maduro asylum to resolve the crisis while opposing US pressure. Colombia faces chaos under President Petro, whose failed "total peace" policies increased violence. After Petro urged US soldiers to disobey orders, America pulled his diplomatic visa, damaging security cooperation. Mexico's President Sheinbaum enjoys 78% popularity and achieved a 20% homicide reduction. The critical priority remains USMCA renegotiation, preventing Chinese companies from using Mexico as a US market pass-through. 1907 BOGOTA

HEADLINE: Latin American Political Volatility and US Engagement GUEST NAME: Evan Ellis SUMMARY: John Batchelor speaks with Evan Ellis about political instability across Latin America. In Argentina, peso volatility reflects investor doubts about President Milei's survival following election losses and corruption scandals. Despite strong economic fundamentals (poverty reduced to 32%, 3% growth), the US Treasury provided unprecedented support with a $20 billion swap agreement. In Venezuela, Maduro's illegitimate regime lost overwhelmingly to Edmundo Gonzalez in July 2024. The US deployed eight ships and considers limited strikes against the "Cartel de los Soles" leadership. Brazil's Lula might offer Maduro asylum to resolve the crisis while opposing US pressure. Colombia faces chaos under President Petro, whose failed "total peace" policies increased violence. After Petro urged US soldiers to disobey orders, America pulled his diplomatic visa, damaging security cooperation. Mexico's President Sheinbaum enjoys 78% popularity and achieved a 20% homicide reduction. The critical priority remains USMCA renegotiation, preventing Chinese companies from using Mexico as a US market pass-through. 1913 MEXICO CITY

HEADLINE: Latin American Political Volatility and US Engagement GUEST NAME: Evan Ellis SUMMARY: John Batchelor speaks with Evan Ellis about political instability across Latin America. In Argentina, peso volatility reflects investor doubts about President Milei's survival following election losses and corruption scandals. Despite strong economic fundamentals (poverty reduced to 32%, 3% growth), the US Treasury provided unprecedented support with a $20 billion swap agreement. In Venezuela, Maduro's illegitimate regime lost overwhelmingly to Edmundo Gonzalez in July 2024. The US deployed eight ships and considers limited strikes against the "Cartel de los Soles" leadership. Brazil's Lula might offer Maduro asylum to resolve the crisis while opposing US pressure. Colombia faces chaos under President Petro, whose failed "total peace" policies increased violence. After Petro urged US soldiers to disobey orders, America pulled his diplomatic visa, damaging security cooperation. Mexico's President Sheinbaum enjoys 78% popularity and achieved a 20% homicide reduction. The critical priority remains USMCA renegotiation, preventing Chinese companies from using Mexico as a US market pass-through. 1913 ARGENTINA

HEADLINE: Latin American Political Volatility and US Engagement GUEST NAME: Evan Ellis SUMMARY: John Batchelor speaks with Evan Ellis about political instability across Latin America. In Argentina, peso volatility reflects investor doubts about President Milei's survival following election losses and corruption scandals. Despite strong economic fundamentals (poverty reduced to 32%, 3% growth), the US Treasury provided unprecedented support with a $20 billion swap agreement. In Venezuela, Maduro's illegitimate regime lost overwhelmingly to Edmundo Gonzalez in July 2024. The US deployed eight ships and considers limited strikes against the "Cartel de los Soles" leadership. Brazil's Lula might offer Maduro asylum to resolve the crisis while opposing US pressure. Colombia faces chaos under President Petro, whose failed "total peace" policies increased violence. After Petro urged US soldiers to disobey orders, America pulled his diplomatic visa, damaging security cooperation. Mexico's President Sheinbaum enjoys 78% popularity and achieved a 20% homicide reduction. The critical priority remains USMCA renegotiation, preventing Chinese companies from using Mexico as a US market pass-through. 1930 BOLIVAR IN CARACAS

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger Picture Trump is now moving forward with additional tariffs, the other tariffs have proven not to cause inflation like the Fed had said and now Trump is free to move with additional tariffs. Switzerland wants to help with gold refining to help with their tariffs. Gold could be revalued and this will change everything. The [DS] believe they have trapped Trump in a Gov shutdown. This is being driven by Soros and Trump was expected this. He created EO back in Feb for this very reason to drain the swamp quickly. Trump is now setting the stage to shutdown their riots and stop WWIII they are trying to start. Trump has issued a peace plan with Gaza and Israel, it is now up to the [DS] stated funded terrorists. Peace through Strength.   Economy (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");  https://twitter.com/briefing_block_/status/1972692864007115084 Gold Revaluation Imminent? US Treasury Hoard Tops $1 Trillion For First Time  On the back of a 45% surge in the price of gold this year, the US Treasury's hoard of the barbarous relic has surpassed $1 trillion in value for the first time in history. That is more than 90 times what's stated on the government's balance sheet and is reigniting speculation that Treasury Secretary Bessent could revalue (mark to market) the massive pile of precious metal   Unlike most countries, the US's gold is held by the government directly, rather than the central bank. The Fed instead holds gold certificates corresponding to the value of the Treasury's holdings, and credits the government with dollars in return. That means, as we detailed previously, that an update of the reserves' value in line with today's prices would unleash roughly $990 billion into the Treasury's coffers, dramatically reducing the need to issue quite so many Treasury bonds this year.   Germany, Italy and South Africa all have taken the decision to revalue their reserves in recent decades, as an August note from an economist at the Federal Reserve discussed.   US gold re-marking would have implications for both the Treasury & Fed balance sheets.  US Treasury: assets would rise by the value of the gold re-marking & liabilities would rise by the size of gold certificates issued to the Fed. Federal Reserve: assets would rise by value of gold certificates & liabilities would rise by a crediting of cash in the Treasury cash balance (Exhibit 4). And here is the punchline: the Fed balance sheet impact would look like QE though no open market purchases would be required & Fed liability growth would initially be in TGA.  In other words, the best of all words: a QE-like operation, one which see the Fed quietly funnel almost $700 billion in cash to the Treasury... but without actually doing a thing! On net, a gold re-marking would increase the size of both Treasury & Fed balance sheets + allow for TGA to be used for Treasury priorities (i.e. SWF, pay down debt, fund deficit, etc). Meanwhile, the Fed and Treasury magically conjure some $990 billion out of thing air to be spent on whatever, all because the Treasury agrees that the fair value of gold is... the fair value of gold.  Source: zerohedge.com    Political/Rights