Archive for July 2023
Us Inflation Cools, Spending Stagnates as Economy Loses Steam
The Federal Reserve’s preferred measures of U.S. inflation cooled in May and consumer spending stagnated, suggesting the economy’s main engine is starting to lose some momentum. The personal consumption expenditures price index rose 0.1% in May, Commerce Department figures showed Friday. From a year ago, the measure eased to the slowest pace in more than two years. Consumer spending,…
What Is Happening In the U.S. Today
What Is Happening In the U.S. Today Posted by Phoenix Capital Research By Graham Summers, MBA As I’ve noted in our last two articles, the $USD has begun a significant decline against most major currencies (the Euro, the Pound and the Franc). And the only reason it is showing relative strength against the Yen is…
US Representative Warren Davidson: ‘CBDC Corrupts Money Into a Tool for Coercion’
Warren Davidson, U.S. representative and part of the House Committee on Financial Services, has disregarded issuing a central bank digital currency (CBDC) in the country. Davidson explained that CBDCs corrupt money into a “tool for coercion” and detailed that there was no legal way of issuing such a currency without legislation. U.S. Representative Warren Davidson:…
Court Orders Kraken to Turn Over History Transaction and Account Information to IRS,the IRS First Filed a Court Petition in February
By Nikhilesh De (CoinDesk archives) A federal court ordered crypto exchange Kraken to turn over account and transaction information to the IRS, which said it needed that information to see if any of the exchange’s users had underreported their taxes. The IRS filed a court petition in the Northern District of California in February, moments…
Bitcoin ETF Race Begins: Has Institutional Trust Returned To Crypto?
by Tyler Durden Wednesday, Jul 05, 2023 – 06:20 AM Authored by Prashant Jha via CoinTelegraph.com, Seven institutional firms have filed for a spot Bitcoin ETF in the U.S., including the world’s largest asset manager BlackRock, driving optimism and higher Bitcoin prices. With the Bitcoin halving event less than a year away, several financial giants…
These Charts Show Why the Fed Is Terrified to Stop Raising Interest Rates and Why NASDAQ Is Ripping Higher
By Pam Martens and Russ Martens: July 5, 2023 ~ The top chart above shows one of the most erratic eras in Federal Reserve policy-making history. In the 70s and early 80s, the Fed would slam on the brakes to bring down inflation by raising its benchmark rate (known as the Fed Funds rate), then slam…
Apple Hits $3 Trillion Market Cap After Spending More than Half a Trillion Dollars on Stock Buybacks Since 2013
By Pam Martens and Russ Martens: July 3, 2023 ~ According to S&P Dow Jones Indices, component companies of the Standard & Poor’s 500 spent $922.7 billion in 2022 buying back their own stock. That was $41 billion more than the S&P 500 companies spent in 2021, which came in at a lofty $881.7 billion. One…
Gold Is the Most Trusted Currency in the World and Has Been for Over 2,500 Years. However, With the Advent of Bitcoin, There Is Now a New Alternative to Dollars
by Tyler Durden Friday, Jun 30, 2023 – 04:40 PM Authored by Nick Giambruno via InternationalMan.com, International Man: For over 2,500 years, gold has been mankind’s most enduring money. However, with the emergence of Bitcoin there is a new hard money option. How do you see the two as governments worldwide continue to engage in rampant…