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Keyword: ustreasury

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  • It's time to go after Vladimir Putin's money in the West

    03/30/2018 2:20:16 PM PDT · by GoldenState_Rose · 46 replies
    Washington Post ^ | Mar 2018 | Anders Aslund
    Putin controls the Russia's state institutions, its secret police and its big state companies. Together with a few old friends from St. Petersburg, the president is tapping the big state companies through overpriced no-bid procurement, transfer pricing, asset stripping and stock manipulation. They are also making money by extorting old oligarchs and taking loans from state banks, not to be returned. Overall assessments indicate a personal enrichment of Putin and his closest cronies of some $20 billion to $25 billion a year since 2006, a pilfering from Gazprom of $60 billion from 2004 to 2007...By now, this group would have...
  • Mnuchin’s Pre-Fort Knox Quip: ‘I Assume the Gold Is Still There’

    08/21/2017 12:46:10 PM PDT · by ARGLOCKGUY · 19 replies
    U.S. Treasury Secretary Steven Mnuchin will check out the nation’s gold stash when he pays a rare official visit to Fort Knox on Monday -- while keeping an open mind for future film projects. “I assume the gold is still there,” the former Hollywood producer joked to an audience in Louisville, Kentucky, 40 miles (64 km) north of the U.S. Bullion Depository. “It would really be quite a movie if we walked in and there was no gold.” Fort Knox has been seared into the public imagination since the 1964 James Bond movie “Goldfinger,” in which the British spy, played...
  • Trump to order U.S. Treasury to delve into taxes, post-crisis reforms

    04/20/2017 7:20:09 PM PDT · by Innovative · 12 replies
    Reuters ^ | Apr. 20, 2017 | Lisa Lambert
    U.S. President Donald Trump will order the Treasury on Friday to find and reduce tax burdens and review post-financial crisis reforms that banks and insurance companies have said hinder their ability to do business. A White House official said on Thursday that Trump will issue an executive order directing the Treasury on the tax issues. He will also issue two memoranda asking for reviews of two parts of the 2010 Dodd-Frank Wall Street reform law - the Orderly Liquidation Authority that sets out how big banks can wind down during a crisis and the Financial Stability Oversight Council (FSOC), which...
  • US Treasury sanctions 13 individuals, 12 entities related to Iran

    02/03/2017 7:35:33 AM PST · by Brandonmark · 16 replies
    CNBC ^ | 2/03/17 | Reuters
    The United States on Friday sanctioned 13 individuals and 12 entities under U.S. Iran sanctions authority, days after the White House had put Iran "on notice" over a ballistic missile test and other activities.
  • Trump critics still not satisfied, even as he donates all foreign hotel profits to U.S. Treasury

    01/15/2017 1:10:39 PM PST · by Sean_Anthony · 7 replies
    Canada Free Press ^ | 01/15/17 | Herman Cain
    And you know darn well they never will be. Of all the things people said about my run for the presidency, the funniest was that I did it to make money. Get your 15 minutes of fame, build your brand, and voila! Book sales, speaking fees, etc. Ha! If only.
  • Record-low US Treasury yield points to rising economic fears

    07/05/2016 9:32:54 PM PDT · by Olog-hai · 6 replies
    Associated Press ^ | Jul. 6, 2016 12:24 AM EDT | Josh Boak
    Fear and uncertainty about the global economy are leading investors to embrace the relative safety of U.S. government debt and slashing yields to record lows. Interest paid on the 10-year Treasury note reached 1.38 percent late Tuesday, just below the previous record set in 2012. Historically, when concerns have flared about a potential recession, investors have shifted money into havens such as U.S. Treasurys and sent yields falling. The market’s signal this time seems somewhat hazier than usual, and there's far from any consensus among economists that a recession is approaching. As recently as the start of June, the yield...
  • Obama administration proposes rules aimed at tax evasion

    05/06/2016 5:15:43 AM PDT · by Olog-hai · 27 replies
    Associated Press ^ | May 6, 2016 3:29 AM EDT
    The Obama administration has announced a set of financial regulations that would force companies to disclose more information about their owners, part of an effort billed as a crackdown on tax evaders and money launderers. Administration officials announced the new rules Thursday as Treasury Secretary Jacob Lew urged Congress to pass legislation that would further enhance transparency in the U.S. banking system and help law enforcement track down secret owners. […] A second proposed rule would close a loophole that allows a narrow class of foreign-owned companies to avoid reporting to the IRS. […] Treasury also sent new legislation to...
  • Van Susteren: Obama “needlessly dividing the country” by putting Tubman on the $20 bill

    04/21/2016 1:05:13 PM PDT · by Kaslin · 74 replies
    Hot Air.com ^ | April 21, 2016 | ED MORRISEY
    It’s not often that one can take issue with the argument that Barack Obama is needlessly dividing the country, but this might be the exception. The US Treasury has decided to honor Harriet Tubman, the woman who helped innumerable slaves escape to freedom, by putting her face on the $20 bill, replacing President Andrew Jackson. Right now, more people are concerned about finding their next $20 bill than are emotionally invested on whose face will be peering back at them when they get it. Greta van Susteren, however, argues that Obama and Treasury Secretary Jack Lew are dividing the country...
  • Fed Sent Record $97.7 Billion in Profits to U.S. Treasury in 2015

    01/12/2016 8:49:57 AM PST · by Citizen Zed · 9 replies
    wsj ^ | 1-11-2016 | BEN LEUBSDORF
    WASHINGTON - The Federal Reserve handed over a record $97.7 billion in profits to the Treasury Department in 2015, according to preliminary figures released Monday.
  • Federal Tax Revenues Set Record Through April

    05/13/2014 11:51:19 PM PDT · by Olog-hai · 9 replies
    Cybercast News Service ^ | May 13, 2014 - 12:01 PM | Terence P. Jeffrey
    Federal tax revenues continue to run at a record pace in fiscal 2014, as the federal government’s total receipts for the fiscal year closed April at $1,735,030,000,000, according to the Monthly Treasury Statement. Despite this record revenue, the federal government still ran a deficit of $306.411 billion in the first seven months of the fiscal year, which began on Oct. 1, 2013 and will end on Sept. 30, 2014. …
  • US unconfident about Chinese reforms

    11/25/2013 8:57:26 AM PST · by AstralisLux · 4 replies
    Spero News ^ | 11/25/13 | Spero News
    Treasury Secretary Jack Lew unsure about the sequence or pacing of reforms.
  • Raw Nerve: Germany Seethes at US Economic Criticism

    10/31/2013 1:37:30 PM PDT · by Olog-hai · 32 replies
    Der Spiegel ^ | October 31, 2013 – 06:26 PM | Christopher Alessi
    A day after a US Treasury Department report bluntly denounced Germany’s economic model, accusing it of hampering the eurozone recovery and hurting global growth, Germany called the conclusions “incomprehensible” and challenged the US to “analyze its own economic situation.” The Treasury’s semiannual currency report criticized Germany’s over-reliance on exports, a high current-account surplus and weak domestic demand. These factors “have hampered re-balancing at a time when many other euro-area countries have been under severe pressure,” the report concluded, citing budget tightening in the euro periphery. “The net result has been a deflationary bias for the euro area, as well as...
  • Treasury Was Open for Business on Third Day of ‘Shutdown:’ Issued $106B in New Debt

    10/06/2013 10:49:57 AM PDT · by Olog-hai · 4 replies
    Cybercast News Service ^ | October 6, 2013 - 8:59 AM | Terence P. Jeffrey
    Although politicians and the press have generally referred to what has been happening in the federal government since Tuesday, Oct. 1 as in a “shutdown” or “partial shutdown,” that did not prevent the U.S. Treasury from being open for business on Thursday—the third day of the “shutdown” and issuing $106.291 billion in new debt, according to the Daily Treasury Statement released at 4:00 p.m. on Friday. … Even though the net debt held by the public declined by $5.039 billion in Thursday, and the cash reserved declined by $33.080 billion, according to the Daily Treasury Statement, the same statement said...
  • 100 Days: Treasury Has Kept Debt Frozen at $16,699,396,000,000

    08/26/2013 10:24:19 PM PDT · by Olog-hai · 20 replies
    Cybercast News Service ^ | August 26, 2013 - 5:47 PM | Terence P. Jeffrey
    The Treasury Department’s latest official daily accounting of the U.S. government’s receipts, expenditures and borrowings—released this afternoon at 4:00 p.m.—indicates that the legally limited debt of the federal government has now been exactly $16,699,396,000,000 for 100 straight days. The Daily Treasury Statement released today showed the status of the government’s accounts as of the close of business on Friday, Aug. 23. Because the Treasury does no business over the weekend, the federal government’s debt did not change on Saturday or Sunday. The statement for Aug. 23 said the federal debt subject to the legal limit set by Congress was $16,699,396,000,000—or...
  • Jack Lew Oversaw Up to 113 Cayman Island Investment Funds

    04/14/2013 5:00:02 PM PDT · by Nachum · 16 replies
    The Weekly Standard ^ | 4/13/13 | DANIEL HALPER
    Jack Lew, who has been nominated as the next treasury secretary, oversaw up as many as a hundred Cayman Island investments when he worked at Citi Bank as chief operating officer of the alternative investment services unit, SEC disclosures reveal. It has previously been reported that Lew himself had been invested in a fund that was based in the Cayman Islands. "To meet your complex hedge fund, fund of hedge funds and private equity fund needs, Citi is your single provider with market-leading experience, global reachand state-of-the-art technology. Our unmatched worldwide presence, economies of scale and comprehensive portfolio of solutions...
  • Watchdog says taxpayers may lose $27B in bailout

    01/29/2013 9:38:35 PM PST · by Olog-hai · 2 replies
    Associated Press ^ | Jan 30, 2013 12:03 AM EST | Marcy Gordon
    A government watchdog says U.S. taxpayers stand to lose $27 billion from the 2008 financial bailout, up from an estimate of $22 billion made in the fall. A report issued Wednesday by the special inspector general for the Troubled Asset Relief Program says the estimate is higher because of increased losses for the Treasury Department on sales of shares in bailed-out companies. Ally Financial, the former financial arm for General Motors, still owes $14.6 billion of the $17.2 billion in aid it received. The report says taxpayers can expect to lose $5.5 billion on that investment because of the company's...
  • Another Lost Year for America's Workers

    01/11/2013 7:47:45 AM PST · by Kaslin · 4 replies
    Townhall.com ^ | Townhall.com | Donald Lambro
    WASHINGTON - President Obama's decision to name Jacob Lew, his chief of staff and former budget director, to be his Treasury secretary sent a depressing signal that the economy and jobs won't be his highest priority in a second term. With unemployment remaining stubbornly high in the fifth year of his presidency, the job of Treasury secretary cries out for a hard- driving, corporate chief executive with strong economic credentials. Instead, Obama intends to pick Lew who has reigned over his big spending budgets (and five consecutive trillion dollar deficits), and more recently has run the West Wing operation as...
  • Banking On The Path To Fiscal Ruin

    01/09/2013 5:36:33 AM PST · by Kaslin · 2 replies
    Townhall.com ^ | January 9, 2013 | Ken Blackwell
    A trend has taken shape in Washington, and it has put our country on a devastating path towards potential fiscal ruin. The trend is characterized by an unsustainable penchant for spending money we don’t have. It became crystal clear in last year’s debt ceiling negotiations and was further highlighted by the recent debate surrounding the fiscal cliff; our country is broke, yet our government continues to spend more, risk more and accumulate more debt. Entitlements are often blamed for the vast majority of our spending issues, but our tendency to overspend is not restricted to just these. Parallels exist...
  • The $13.6-Trillion Man: Geithner Sets All-Time Record for Spending by Treasury Secretary

    01/03/2013 5:20:10 PM PST · by Olog-hai · 13 replies
    Cybercast News Service ^ | January 3, 2013 | Terence P. Jeffrey
    Treasury Secretary Timothy Geithner, who reportedly will leave office at the end of this month, is already responsible for spending and borrowing more money than any of his predecessors as secretary of the Treasury. The U.S. Senate confirmed Geithner on Jan. 26, 2009. Between February 2009, the first full month of Geithner’s tenure, and the end of November 2012, the last full month for which federal spending records are available, the U.S. Treasury dispensed approximately $13.582319 trillion. …
  • US Treasury Tightens Squeeze On Brothers Circle

    12/21/2012 5:49:43 AM PST · by AtlasStalled · 1 replies
    Friends of Ours ^ | 12/21/12 | Friends of Ours
    The U.S. Treasury Department has added three individuals with alleged ties to the crime group Brothers' Circle to a blacklist which bans American citizens and companies from conducting any business with them according to a press release: "today's action targets Zakhariy Kalashov for acting for or on behalf of, or providing material support to, the Brothers' Circle, as well as Almanbet Anapiyaev and Adilet Kasenov, for acting for or on behalf of, or providing material support to, Kamychbek Kolbayev." The Treasury Department previously placed Kolbayev on its black list. According to the press release the Brothers' Circle "is a criminal...