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Keyword: finance

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  • Mortgage rates fall below 3 percent for first time

    07/16/2020 9:42:15 PM PDT · by rintintin · 23 replies
    Houston Chronicle ^ | July 16 2020 | RA Schuetz
    The average rate for a 30-year-fixed mortgage fell below 3 percent last week for the first time, according to the government-sponsored mortgage-finance company Freddie Mac. The falling rates are making homes more affordable for buyers and spurring a wave of refinancing as homeowners seek to lower monthly payments. Freddie Mac estimates that at current rates, most homeowners with mortgages could save money by refinancing — a financial boon for potentially tens of millions during a recession.
  • The Dollar “Has Us By The Throat”: Chinese Official Urges Gradual Decoupling Of Yuan Ahead Of ”Full-Blown Escalation”

    07/14/2020 8:30:25 PM PDT · by SeekAndFind · 35 replies
    Austrian Economics Blog ^ | 07/14/2020 | Tyler Durden
    With all eyes on Trump's Tuesday evening Rose Garden speech which unveiled that he'll sign new and punitive measures indirectly targeting China — namely the Hong Kong Autonomy Act, a bipartisan measure to penalize banks that work with Chinese officials found to be interfering in Hong Kong affairs — it remains that arguably the most important recent statements out of China came not from current government officials, but from Zhou Li, the 65-year-old former deputy head of the Chinese Communist Party's International Liaison Department. He's considered an important voice who echoes the outside the box thinking and general "talk"...
  • Chelsea Clinton is reportedly in the 'very early stages' of forming her own venture capital firm

    07/11/2020 8:03:51 PM PDT · by simpson96 · 56 replies
    Business Insider ^ | 7/9/2020 | Avery Hartmans
    Chelsea Clinton is reportedly entering the venture capital scene. That's according to Axios' Kia Kokalitcheva and Dan Primack, who reported Thursday morning that Clinton is in the "very early stages" of forming a new fund called Metrodora Ventures, named after one of the first women to write a medical text. Axios reports that Clinton is still determining whether she wants to become a full-time VC, but noted that the name of the fund was registered in April, there's a draft pitch deck being passed around, and Metrodora Ventures has its own Twitter account, created in July. On Twitter, the firm...
  • 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal

    06/30/2020 2:06:43 AM PDT · by Candor7 · 103 replies
    The Donald Win ^ | 29 June 2020 | dirtysanchez69
    The story is shocking in exposing just how multi-faceted fraud is in China: capitalizing on pre-existing cronyism and connections with China's powerful army, the founder of Kingold was allowed to basically do anything he wanted, no questions asked, including counterfeiting over 83 tons of gold bars to get billions in funds to participate in China's housing bubble, only for a series of unexpected events to unwind the frauds one after another and expose the type of sordid scandal that is at the heart of most Chinese "enterprises" and business ventures.
  • BLM Co-Founder Appears To Violate IRS Laws On CNN

    06/28/2020 5:33:43 AM PDT · by gattaca · 54 replies
    The Federalist ^ | June 26, 2020 | Elle Reynolds
    A co-founder of the Black Lives Matter Global Network weighed in on the 2020 election, in an apparent violation of Internal Revenue Service laws prohibiting 501(c)(3) organizations from engaging in campaign activity. Patrisse Cullors, in her official capacity as a co-founder of the BLM Global Network, told CNN on June 19 that “our goal is to get Trump out.” “Trump not only needs to not be in office in November but he should resign now,” she insisted. “Trump needs to be out of office. He is not fit for office.” According to the IRS, a 501(c)(3) organization “may not participate...
  • A Terrorist’s Ties to a Leading Black Lives Matter Group

    06/26/2020 4:51:37 AM PDT · by WWG1WWA · 52 replies ^ | June 23, 2020 | Scott Walter
    Some conservatives have begun speculating the unrest in American cities—even as late as Monday night in Washington, DC, as “protestors” unsuccessfully worked to tear down a statue of Andrew Jackson and set up an autonomous zone across the street from the White House—may in part be an attempt to affect the upcoming presidential election, with the chaos and violence intended to make it as difficult as possible for Donald Trump to win a second term. Lending credence to this idea is the fact that at least one board member of Thousand Currents—the group fiscally sponsoring the most organized part of...
  • Wall Street's nightmare: Elizabeth Warren as Treasury Secretary

    06/26/2020 5:22:27 AM PDT · by C19fan · 9 replies
    CNN ^ | June 25, 2020 | Matt Egan
    Wall Street dodged a bullet when Elizabeth Warren's campaign for the White House fizzled out. But Warren, a fierce critic of big banks, could still play a forceful role in shaping policy in a potential Biden administration. If Joe Biden wins in November, Warren is the "favorite" to become the nation's first woman Treasury secretary, according to Cowen Washington Research Group. "We believe Warren would be an especially powerful Treasury secretary with Biden likely delegating to her primary responsibility for financial and economic policy," Jaret Seiberg, policy analyst at Cowen, wrote in a note to clients on Thursday.
  • Fitch Downgrades Canada's Ratings From AAA to 'AA+'; Outlook Stable

    06/24/2020 9:51:45 AM PDT · by SeekAndFind · 6 replies
    FITCH RATINGS ^ | 06/24/2020
    Fitch Ratings has downgraded Canada's Long-Term Foreign Currency Issuer Default Rating (IDR) to 'AA+' from 'AAA'. The Rating Outlook is Stable. KEY RATING DRIVERS The rating downgrade reflects the deterioration of Canada's public finances in 2020 resulting from the coronavirus pandemic. Canada will run a much expanded general government deficit in 2020 and emerge from recession with much higher public debt ratios. The higher deficit is largely driven by public spending to counteract a sharp fall in output as parts of the economy were shuttered to contain the spread of the coronavirus. Although this will support recovery, the economy's investment...
  • CFPB to eliminate DTI requirement from qualified mortgage standards

    06/22/2020 2:42:46 PM PDT · by ameribbean expat · 36 replies
    The Consumer Financial Protection Bureau announced Monday two notices of proposed rulemaking surrounding what’s commonly known as the QM Patch. One of those rulemakings would remove the debt-to-income requirement from qualified mortgages. Back in January, CFPB Director Kathy Kraninger sent a letter to several prominent members of Congress, saying the bureau has decided to propose an amendment to the QM Rule that would “move away” from DTI as a factor in mortgage underwriting. Specifically, Kraninger said at the time that the CFPB has decided to shift from the DTI standard and move to an “alternative, such as a pricing threshold...
  • Wells Fargo, worried about defaults, stops making loans to most independent car dealerships

    06/02/2020 4:05:59 PM PDT · by dynachrome · 54 replies
    CNBC ^ | 6-2-2020 | Hugh Son
    Wells Fargo, one of the biggest lenders for new and used car purchases in the U.S., sent letters to hundreds of independent auto dealerships last month telling them that the San Francisco-based company was dropping them as a customer, according to people with knowledge of the situation. A Wells Fargo spokeswoman confirmed that the bank, which only makes auto loans through car dealerships, will no longer accept loan applications from most independent shops. Independent dealerships typically sell used cars, unlike franchise dealerships that focus on new vehicles from specific manufacturers. The bank had “an obligation to review our business practices...
  • In The First Quarter Bill & Melinda Gates Foundation Bought Stocks In A Couple Of Tech Giants That Did Quite Well During The Economic Lockdown

    05/26/2020 1:15:54 PM PDT · by USA Conservative · 24 replies
    Right Journalism ^ | 05.26.2020 | Natalie Dagenhardt
    The Bill & Melinda Gates Foundation has committed millions of dollars to research treatments and vaccines for COVID-19 as the pandemic continues to spread across the globe. Those endeavors are now fueling a lot of conspiracy theories. Of course even Bill Gates made some strange comments that fueled those conspiracy theories. Back in March he said, the country needs to go much further with a longer, coordinate shutdown to effectively turn back the spread of the disease. “We’re entering to a tough period that if we do it right we’ll only have to do it once, for six to 10...
  • Soros Announces 'Revolutionary Moment' Is Here, Can Accomplish the 'Inconceivable' -VIDEO

    05/22/2020 2:23:24 AM PDT · by · 17 replies ^ | May 20, 2020 | C. Douglas Golden
    On its face, an interview of George Soros by the people at Project Syndicate seems a curious set of affairs. Project Syndicate, which describes itself as “The World’s Opinion Page,” occasionally has some good material even though you’re never going to see, say, Ben Shapiro or Douglas Murray contributing a piece. That’s not quite the reason the interview was so curious, however. Instead, there was the fact that Soros’ Open Society Institute played a critical role in establishing Project Syndicate in the immediate post-Soviet era in Europe. It’s a bit like Oprah Magazine publishing an interview with its eponymous founder,...
  • How a German court fired a shot that could unravel the EU

    05/14/2020 11:32:50 AM PDT · by cartan · 40 replies
    The Irish Times ^ | 2020-05-13 | Naomi O’Leary
    A ruling by Germany’s constitutional court has sparked serious fears of the unravelling of the European Union. It’s a delayed judgment from an old fight that has hit the EU at its most vulnerable. A group of German academics, including a former leader of the far-right party Alternative für Deutschland, Bernd Lucke, took a case in 2015 to challenge the bond-buying programme of the European Central Bank (ECB). They hardly hoped to win, but thought they could make a political point. During the euro zone crisis, as now, the ECB was buying the debt of economically weaker EU countries to...
  • Bond ETFs jump as Fed wades into the market

    05/12/2020 7:40:51 PM PDT · by sockmonkey · 25 replies
    Market Watch ^ | 5-12-2020 | Andrea Riquier
    Bonds catch a bid on a day stocks are stuck in the mud. Bond exchange-traded funds roared higher Tuesday, the first day the Federal Reserve stepped into the market to help keep credit flowing in the aftermath of the coronavirus-induced March market shock.
  • Trump Administration Moves to Block US Pension Fund Investment in Chinese Equities

    05/12/2020 11:25:09 AM PDT · by absalom01 · 8 replies
    The Epoch Times ^ | May 12, 2020 | ISABEL VAN BRUGEN
    Leading Trump administration officials on May 11 moved to block further investment by U.S. federal retirement funds into Chinese equities that “present significant national security and humanitarian concerns,” reported FOX Business. National Economic Council Chair Larry Kudlow and National Security Adviser Robert O’Brien addressed a letter to U.S. Labor Secretary Eugene Scalia on Monday detailing the Trump administration’s wishes. The letter obtained by FOX Business outlined the Trump administration’s objections to the Thrift Savings Plan (TSP)—the federal government’s retirement savings fund—investing in Chinese companies. According to the news outlet, the funds total some $4 billion in assets. The letter stated,...
  • Vanity: Financial Strategy Opinions???

    04/28/2020 10:21:47 PM PDT · by Oscar in Batangas · 43 replies
    My locked down mind | today | Oscar in Batangas
    Are we near the bottom or on a ledge? I put a few thousand into each of 10 Fidelity mutual funds but still have about ¾ of my 'gambling money' sitting idle. After one week I'm up about 5%, but DANG are the knees ever shaking. C'mon steely-eyed gamblers, give your FRiends some advice!
  • Trump Owes Tens Of Millions To The Bank Of China — And The Loan Is Due Soon

    04/24/2020 11:37:05 AM PDT · by MAGA_patriot · 44 replies
    Donald Trump is warning “China will own the United States” if Joe Biden is elected president. But Trump himself is tens of millions of dollars in debt to China: In 2012, his real estate partner refinanced one of Trump’s most prized New York buildings for almost $1 billion. The debt includes $211 million from the state-owned Bank of China — its first loan of this kind in the U.S. — which matures in the middle of what could be Trump’s second term, financial records show… Aside from the historic precedent of a developer-turned president paying back millions to a bank...
  • The One Certain Victor in the Pandemic War

    04/24/2020 9:39:29 AM PDT · by Kaslin · 21 replies ^ | April 24, 2020 | Pat Buchanan
    "War is the health of the state," wrote the progressive Randolph Bourne during the First World War, after which he succumbed to the Spanish flu. America's war on the coronavirus pandemic promises to be no exception to the axiom. However long this war requires, the gargantuan state will almost surely emerge triumphant. Currently, the major expenditures of the U.S. government, as well as a growing share of total federal spending, are Social Security, Medicare and Medicaid. None of these programs will be curtailed or reduced this year or next. And if the Democrats win in November, the nation will likely...
  • Seize the Endowments

    04/20/2020 3:17:52 PM PDT · by Chickensoup · 17 replies
    Human Events ^ | March 20, 2020 | Will Chamberlain
    A number of elite American universities are finding themselves in hot water for their miserly behavior in response to the coronavirus. Harvard University is taking well-deserved heat for laying off its food service workers while sitting on a $40 billion endowment. Yale University, too, has been twisting in the wind; when New Haven mayor Justin Elicker asked the university to provide temporary housing to the city’s firefighters and police officers, the university initially refused. Then, after taking a public relations and social media beating, Yale relented, grudgingly agreeing to allow city officials to stay in the university’s vacant dormitory housing....
  • A Left-Wing Group Targeting Trump Accepted $100K in Stock from a Chinese-Controlled Tech Firm, Filings Show

    04/17/2020 11:55:06 AM PDT · by gattaca · 14 replies
    Ohio Star ^ | April 17, 2020 | Chris White
    A Democratic group expected to spend millions of dollars targeting President Donald Trump received over $100,000 in stock shares from an anonymous donor in a giant Chinese tech company, according to tax filings. American Bridge 21st Century accepted a gift in 2018 of 450 shares into Baidu, a Google-like tech company closely affiliated with China’s ruling Communist Party, according to the group’s 2018 IRS filings. The Washington Free Beacon first reported on the donation Wednesday. It is unclear if American Bridge sold the stocks during the past two years, according to the Free Beacon’s report. Democratic operative David Brock founded...