The latest attempt at inflicting maximum punishment and pressure on Russia amid its grinding war in Ukraine has many scratching their heads, as the US is now set to block Moscow’s ability to pay its sovereign debt – though ironically which Russia appears ready and willing to pay, if it weren’t for the far reaching US-led sanctions imposed on its central financial institutions in the first place…
The Great Currency Reset and Why Europe Is Trapped…
There’s a lot of news flying around about the changes happening in global currency trading. From “Gas for Rubles” to “What the Hell is Going on With the Yen?” there are a lot of questions and very few answers as to what it all means and whose on which side of the divide…
U.S. Treasury Freezes Billions in Afghan Reserves, Depriving Taliban of Cash…
After handing the Taliban US-supplied military hardware on a silver platter thanks to the botched Afghanistan withdrawal, the Biden administration scrambled to deprive the terrorist organization of funding – freezing Afghan government reserves held in US bank accounts, and blocking the Taliban from accessing billions of dollars held in US institutions, according to the Washington Post, citing two people familiar with the matter…
Liquidity Tsunami Ends With a Bang: Treasury Expects Just $100BN in Cash Injections Next 2 Months…
Three months ago, the Treasury surprised markets when in its quarterly borrowing forecast, it revealed that in the first calendar quarter of 2021, it wouldn’t need to borrow as much debt as it had recently because the Treasury’s cash balance (held in the Treasury General Account, or TGA, which is simply the Treasury’s cash balance held at the Fed) would plunge to just $800 billion, down a record $929BN from $1.729 trillion at Dec 31, 2020…
March Deficit Blowout: U.S. Spends 3.5x More Than It Brings in; YTD Deficit Is Biggest Ever…
The covid crisis may be over (with nearly 60% of the population vaccinated, one would certainly hope it’s over), but covid crisis spending is here to stay…
Biden Administration Sitting on $1 Trillion in Unspent Wuhan Virus Relief Funds…
Before the Biden administration takes another $1.9 trillion out of the nation’s wallet for COVID-19 relief, fiscal hawks are urging the White House to first spent about $1 trillion in unspent previously approved virus money…
Ten Months after Stepping Down as Fed Chair, Janet Yellen Became Part of the “Leadership” Team for Forums Tied to the Chinese Communist Party…
Former Fed Chair and Treasury Secretary nominee Janet Yellen has failed to report the details of millions of dollars in fees that she earned in 2018, the year she stepped down as Fed Chair, as she went on a whirlwind of speaking engagements in foreign cities around the world…
Treasury Targets Venezuelan Oil Sector Sanctions Evasion Network…
Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated three individuals, fourteen entities, and six vessels for their ties to a network attempting to evade United States sanctions on Venezuela’s oil sector…
Fed Leaves All Policies Unchanged, Will Keep QE Until “Substantial Further Progress” Made…
“The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time,” Fed officials reiterated in their December policy statement, released Wednesday afternoon…
Research Arm of Congress Confirms that Mnuchin Never Released Bulk of CARES Act Money Earmarked for Fed’s Emergency Loans…
Mnuchin was able to delude the public with the idea that the Fed has just been sitting on over $400 billion of Treasury’s money, so it was time for Mnuchin to claw it back and kill the programs, because that information was inaccurately reported by mainstream media…
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