Keyword: treasury
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FIRST ON FOX: Then-Vice President Biden boasted about his Harvard-educated niece previously studying Chinese and living in China while delivering a speech in 2011 touting "a rising China" being "a positive, positive development, not only for China but for America…"
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The Federal Reserve said Tuesday that it officially saw a net negative income of $114.3 billion in 2023, a record loss tied to expenses related to managing the central bank’s short-term interest rate target. The loss last year follows $58.8 billion in net income in 2022, the Fed said. The numbers released were an audited tally following preliminary numbers reported earlier this year. The Fed has stressed repeatedly that net negative income does not impede its ability to operate or conduct monetary policy. By law, the Fed hands over any profits after covering operational expenses to the Treasury.
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The Treasury Department has admitted that it helped law enforcement catch people involved in the Jan. 6 Capitol breach by urging banks to comb through the private transactions of customers using terms like “MAGA” and “Trump” as part of a surveillance scheme intended to fight money launderers but used to hunt Jan. 6-ers.In January, The Epoch Times reported on allegations that the Financial Crimes Enforcement Network (FinCEN)—the U.S. Treasury Department’s financial crime-fighting unit—was accused of engaging in “pervasive financial surveillance” by circulating materials to banks that listed keywords that could be used to flag private financial transactions of potential Jan....
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The Biden Administration has admitted to surveilling the private financial transactions of Americans for words including 'MAGA', 'Trump' and 'Kamala' following the January 6 riots. Federal investigators in the Treasury's Financial Crimes Enforcement Network (FinCEN) instructed banks to comb through records to look for 'extremists'. A letter from the Treasury Department, seen by Fox News, was sent to Senator Tim Scott on Friday which states 'Exchange events' began 'shortly after January 6 under the prior Administration'. It said it 'included terms such as "antifa," "MAGA," "Trump," "Biden," "Kamala," "Schumer," and "Pelosi."' The federal government was specifically 'watching' Trump supporters and...
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Rep. Jim Jordan (R-Ohio) is requesting a transcribed interview with a former Financial Crimes Enforcement Network (FinCEN) official for allegedly flagging consumer transactions that had the phrases “TRUMP” or “MAGA” in them. On behalf of the Judiciary Committee’s subcommittee on the weaponization of the federal government, Jordan sent a letter requesting testimony to Noah Bishoff, the former director of an office in the Strategic Operations Division of FinCEN, which is part of the Treasury Department. Jordan said the committee had obtained documents showing that FinCEN outlined “typologies” of persons of interest in materials distributed to financial institutions. He said these...
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More than 1,000 additional auto dealers have registered for the point-of-sale electric vehicle tax credit since it became available Jan. 1, the Treasury Department confirmed Friday morning. Treasury officials told reporters that as of Friday, more than 8,700 dealers had registered for the credit, up from the 7,400 announced in late December. Alterations to the credit under the Inflation Reduction Act allow electric vehicle buyers to claim it upon purchase from registered dealers rather than waiting until filing their taxes the following year. The 7,400 number was itself an increase from the 7,000 dealers announced earlier in December by the...
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Another day, another dose of bad fiscal/monetary news. Not surprising with the US Treasury being run by Janet Yellen, who doesn’t seem to know much economics. In fact, with Biden/Congress spending like drunken sailors in port, inflation and The Fed’s counterattack, we see that interest of US debt just hit $1 TRILLION! $1.027 trillion in interest is calculated by multiplying the average interest rate on marketable US Treasury debt (which according to the Treasury is 3.096% as of Oct 31) by the $26.003 trillion in marketable US debt (as of Oct 31) which nets off to $805 billion, and adding...
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Steven Zeng at Deutsche Bank notes the stunning (but hardly surprising) reality that Treasury borrowing is "now on par with levels during the 2020-2021 pandemic". "Both weaker fiscal positions and Fed QT are contributing factors. With a growing view that the Fed may lengthen (https://t.me/marketfeed/427665) the duration of QT, and annual deficits projected at around $1.7-$1.8 trillion (https://home.treasury.gov/system/files/221/TreasuryPresentationToTBACQ42023.pdf) over the next few years, these issues are unlikely to go away soon." "At the same time, a widening mismatch between supply and demand for USTs could exacerbate the issue through increased debt interest expenses." This will continue as the Treasury repays...
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WASHINGTON, D.C. — U.S. Treasury Secretary Janet Yellen calmed growing concerns throughout the nation's capital this week by explaining the United States can easily afford to pay for two separate foreign wars because of the 20% "Friends & Family" discount she receives from Raytheon. "I've got you covered!" Yellen said with a smile after multiple U.S. officials expressed doubt the country could stay afloat financially while simultaneously funding wars in Israel and Ukraine. "With the killer discount I get from Raytheon, we'll be bombing people into oblivion on two continents, all without breaking the bank!" Yellen then produced her limited...
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Alarm! US 10-year Treasury yields are soaring along with mortgage rates. The US Treasury market is witnessing another significant selloff, pushing the 10y UST yield close to the 4.50% mark. The surge in real rates is remarkable, reaching 2.12% for the 10y, a level not seen since 08’. While this might appear attractive in real terms compared to historical benchmarks, could we be on the brink of a third consecutive year of negative performance for US Treasuries? To put this into perspective, such a scenario has never occurred in history. The conforming mortgage rate is at 7.3%, up 156% under...
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President Biden’s niece - while working at the Obama administration’s Treasury Department - shared tips with first son Hunter Biden about China’s largest government wealth fund, which he later sought as a potential investment opportunity, according to emails on his abandoned laptop. Casey Owens, the daughter of first sister Valerie Biden Owens, notified her cousin and his business partners at now-defunct Rosemont Seneca Advisors about an investment conference held by China Investment Corporation (CIC) while working as a special assistant for the department’s US-China Strategic and Economic Dialogue, an April 12, 2010, email shows. “FYI on recent CIC investment conference...
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This is very strange. Global Treasury Yields just rose to a 15-year high (2008). This is primarily due to Central Bank moneta And REAL 10-year Treasury yields also the highest since 2009. At the same time, US industrial production is at the same level as pre-financial crisis (2007). Despite Federal Reserve monetary stimulypto (remember, The Fed’s balance sheet remains abouve $8 trillion. This is Obama/Biden/Yellenomics. Trillions of dollars of fiscal (green) stimulus and monetary stimulus only to have industrial production be at the same level BEFORE The Great Recession and financial crisis.
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Yes, Bidenomics is an FDR-type massive expansion of government into the private sectors requiring massive Federal spending … and inflation. Except that it beenfits anything BIG and powerful to the detriment of the small and weak. (Bloomberg) Friday’s jobs data sparked a relief rally in bonds and a flatter yield curve, but the pain trade is still for higher yields and a steeper curve – the lesser-spotted bear steepener – with this week’s CPI a potential catalyst. Last week was a turbulent one for bonds, but the continued softening in payrolls data served to remind the market that supply and...
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See also: US credit rating sinks as national debt increasesWhen Fitch, the securities ratings agency, downgraded US sovereign debt, it was a huge story in the financial world. The Wall Street Journal’s initial coverage noted that it was:…clouding the outlook for the $25 trillion global market for Treasurys. Fitch’s rating on the U.S. now stands at “AA+”, or one notch below the top “AAA” grade.America’s reputation for reliably making good on its IOUs has cast Treasury bonds in an indispensable role in global markets: a safe-haven security offering nearly risk-free returns. Treasurys serve as a critical benchmark for returns on...
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I had not heard this. And what I am hearing is pretty disturbing as, unsurprisingly, it completely screws American businesses. It takes the concepts of globalism and equity, then combines them while surrendering our sovereignty over our own tax revenues. Basically giving it away.Does that sound about right? The quiet new way @JoeBiden & @TheDemocrats wants to tax you. @OECD surrenders America’s sovereignty over our tax code and allows foreign countries to take our taxes that were meant for our own essential programs and military. https://t.co/7H2rYl6iB0— Topper in NC (@LieselGreer) July 22, 2023Horrifically enough, it is.Over the past two years,...
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I have never seen anything like this. The US Treasury 10Y-2Y yield curve is deep in inversion and has had a negative slope for 265 straight days. Bidenomics is born under a bad sign! On the commodities front, heating oil is up almost 2% this morning and nickel (an important element in Biden’s green energy mandates) is up 1.78%. On the crypto front, Bitcoin is up 0.47% and Dogecoin is up 5.58%. You can always buy Kamala’s Own Word Salad Dressing!
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NEW YORK, June 5 (Reuters) - Investors are bracing for a wave of U.S. government bond issuance as the Treasury plans to refill its depleted coffers quickly after the recent suspension of the debt limit. The Treasury General Account has fallen sharply since January when Treasury hit its limit on borrowing. Cash balance targets indicate it will need to rebuild its account quickly now that the borrowing cap has been lifted.
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Before there was J6, there was J1. On May 29th, 2020, the nationwide insurrection by the racist hate group BLM and its leftist allies arrived in the nation’s capital in a very big way. On Friday night, a violent racist leftist mob, falsely described as “peaceful” by its media allies, converged on the White House. The insurrectionists assaulted Secret Service and Park Police officers. They shouted obscenities and threatened President Trump even as they fought their way past law enforcement personnel to reach the White House. “It looks like a war zone outside the White House,” Adam Parkhomenko, the former...
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5:32 AM PST - 1 Month US Treasury - 5.8% (annual rate). 1 Year US Treasury - 5.17% (annual rate).
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Yes, the clock is ticking on a possible debt default and Biden is off in Hiroshima Japan instead of negotiating with House Speaker McCarthy. The treasury cash balance is only $18 billion away from Yellen’s minimum balance redline of $50 billion. That’s one day of spending in crazy spending Washington DC.
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