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IRS Is Probing the Dark Web to Look For Cryptocurrency, NFT Tax Evasion, Says IRS CommissionerApr 14, 2021 - 08:51:13 PDT
IRS Commissioner Charles Rettig said the U.S. fails to collect as much as $1 trillion in taxes owed each year, in part due to the explosion in cryptocurrencies.
Dollar’s Purchasing Power Drops Sharply to Record Low, But It’s a Lot Worse than CPI ShowsApr 14, 2021 - 08:40:41 PDT
If the homeownership component in CPI mirrors the Case-Shiller Home Price Index, CPI would jump 5.1%! Not to speak of new & used vehicle prices, which I nevertheless speak of.
For China, adoption of a CBDC both within and beyond its borders would allow its financial system to reduce reliance on the dollar and limit the role and oversight of foreign financial institutions and regulators.
Gold prices gave up early gains and were flat on Wednesday, as weakness in the U.S. dollar due to higher inflation was countered by some firming in Treasury yields.
The world’s eight richest people together hold fortunes of more than US$1 trillion and have added US$110 billion combined this year.
This article will help understand what drives inflation. Being a step ahead of the markets inflationary thinking is critical to investment success.
If you had knowledge of this deal and made a similar trade, then got caught, you would be fined, lose all your profits, and potentially be thrown into jail.
Bernie Madoff, Mastermind of the Nation's Biggest Investment Fraud, Dies at 82Apr 14, 2021 - 07:54:20 PDT
Bernard Madoff masterminded the biggest investment fraud in U.S. history, ripping off tens of thousands of people of as much as $65 billion.
Amid global supply chain disruptions and trillions in liquidity to support consumption, it is perhaps unsurprising that import and export price inflation is soaring.
The money itself is programmable. Beijing has tested expiration dates to encourage users to spend it quickly, for times when the economy needs a jump start.
What do you get when you hand Americans big fat stimulus checks after decades of offshoring the country's manufacturing economy?Massive trade deficits.
Gold Eyeing a Sustained Move Above $1750 Awaiting Fed Chair Powell’s SpeechApr 14, 2021 - 05:52:34 PDT
So far this Wednesday’s trading, gold is consolidating the recent recovery rally below $1750, awaiting Fed Chair Jerome Powell’s speech, due later in the day, for fresh trading impetus. With upbeat US PPI and CPI data, the expectations of higher inflation will continue to support the inflation hedge, gold.
The Fed wants to have their cake and eat it too, but the cake is stale. Jerome Powell’s remarks in testimony before the Senate recently provoked considerable attention. Responses, interpretation, and analysis by observers were many and varied. Unfortunately, no one learned anything different from what they thought they knew before Powell’s...
Apr 14, 2021 - 05:46:19 PDT
Topics, including Rickards’ stance that deflation remains the greatest risk to the economy, despite reports of inflation. Rickards also talks about M2 skyrocketing— and how it coincides with the discontinuation of the Federal Reserve’s money supply series, data that has been published weekly since 1970.
The collapse of Archegos Capital Management LP, an investment firm that few even on Wall Street had heard of until it imploded last month, is changing a lucrative, decades-old part of global banking.Nomura Holdings Inc. and Credit Suisse Group AG, the two lenders hit hardest, have started to curb financing in the business with hedge funds...
“Basically we just ask that, hey, we want to be treated on those level playing field with traditional financial services at the very least and not have any kind of punishment for being in the crypto space,” Armstrong said.
Coinbase's Blockbuster Debut Is a 'Watershed' for Crypto — but There Are Risks AheadApr 14, 2021 - 05:32:25 PDT
There are a number of risks ahead. Cryptocurrencies are notorious for their wildly volatile price moves, and skeptics think it may be in a massive market bubble that’s bound to burst at some point. Meanwhile, global regulators are increasingly trying to bring crypto under their oversight, with India’s government even looking to ban digital currencies.
Investors received earnings results from the banks including JPMorgan Chase (JPM) and Goldman Sachs (GS) Wednesday morning, which set the tone for the rest of first-quarter earnings reports in the weeks to come.
The Senate is likely to confirm Gary Gensler as the new SEC chairman, and crypto assets — including bitcoin — are likely high on his agenda.
U.S. Treasury yields rose slightly on Wednesday morning, following a slightly higher-than-expected inflation reading in the previous session.