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The Dollar, Not Crypto, Is a National Security Issue
The Dollar, Not Crypto, Is a National Security Issue U.S. Treasury Secretary Steve Mnuchin piled on to comments made recently by President Donald Trump by calling cryptocurrencies a “national security issue.” Bitcoin and crypto proponents more broadly have long wondered if (and how) the government of the United States would recognize the slow but steady encroachment of decentralized assets, […]
Treasury Announces Record Debt Sale In Upcoming Refunding Auction
Treasury Announces Record Debt Sale In Upcoming Refunding Auction Treasury Secretary Steven Mnuchin is about to surpass Timothy Geithner’s achievement of selling a record amount of notes and bonds as he seeks to finance America’s soaring budget deficit. According to the latest quarterly refunding statement, the US Treasury is about to sell a record amount […]
Big Oil Walking A Tightrope As Prices Rise
Big Oil Walking A Tightrope As Prices Rise Supermajors have had a great year so far, and their third-quarter results, to be released over the next couple of weeks, are likely to strengthen this impression. But this does not necessarily mean that investors will reward them. Investors have become a lot more careful in the […]
US Is Negotiating With SWIFT To Disconnect Iran From Network
US Is Negotiating With SWIFT To Disconnect Iran From Network Treasury Secretary Steven Mnuchin said that unlike Obama’s 2013 Iran blockade, it would be harder for countries to get waivers on Iran oil sanctions as the US is already working on disconnecting Iran from the SWIFT network and dismissed concerns that oil prices could rise, […]
Mnuchin’s Wrong: Here’s Why Investors Should Be Very Worried About Inflation
Mnuchin’s Wrong: Here’s Why Investors Should Be Very Worried About Inflation Despite Treasury Secretary Steven Mnuchin’s bizarre insistence that there’s no connection between consumer-price inflation and rising energy prices and wages, these factors – plus a spate of others – are forcing some food companies to consider raising prices on goods from chicken to cereal, […]
“Strong Dollar,” “Weak Dollar,” What About a Gold-Backed Dollar?
“Strong Dollar,” “Weak Dollar,” What About a Gold-Backed Dollar? The recent hullabaloo among President Trump’s top monetary officials about the Administration’s “dollar policy” is just the start of what will likely be the first of many contradictory pronoucements and reversals which will take place in the coming months/years as the world’s reserve currency continues to be […]
When Budget Deficits Will Really Go Vertical
When Budget Deficits Will Really Go Vertical Mnuchin Gets It United States Secretary of Treasury Steven Mnuchin has a sweet gig. He writes rubber checks to pay the nation’s bills. Yet, somehow, the rubber checks don’t bounce. Instead, like magic, they clear. How this all works, considering the nation’s technically insolvent, we don’t quite understand. […]
“Strong Dollar”, “Weak Dollar” – What About a Gold-Backed Dollar?
“Strong Dollar”, “Weak Dollar” – What About a Gold-Backed Dollar? Contradictory Palaver The recent hullabaloo among President Trump’s top monetary officials about the Administration’s “dollar policy” is just the start of what will likely be the first of many contradictory pronouncements and reversals which will take place in the coming months and years as the […]
Trump’s China-Sanctions Madness Imperils the Dollar
Trump’s China-Sanctions Madness Imperils the Dollar Last week US Treasury Secretary Steve Mnuchin warned the US will impose new sanctions on China if it doesn’t conform to UN sanctions on North Korea: “If China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the U.S. and international dollar […]
Gold Jumps After Mnuchin Says “Less Concerned About Inflation Than Economic Growth”
Gold Jumps After Mnuchin Says “Less Concerned About Inflation Than Economic Growth” In a potentially revealing glimpse of what is to come from the next Fed head, Treasury Secretary Steven Mnuchin, speaking during a Politico forum, told the audience: “Although we respect the Fed’s independence, we are concerned about economic growth. We’re doing everything we […]
An Economic Lesson for China and Russia
An Economic Lesson for China and Russia Is there anyone in Trump’s government who is not an imbecile? After years of endless military threats against Russia—remember CIA deputy director Mike Morell saying on TV (Charlie Rose show) that the US should start killing Russians to give them a message, and Army Chief of Staff Mark […]
U.S. Treasury Secretary: I Assume Fort Knox Gold Is Still There
U.S. Treasury Secretary: I Assume Fort Knox Gold Is Still There US Treasury Secretary Steve Mnuchin visits Fort Knox Gold Later tweeted ‘Glad gold is safe!’ Only the third Treasury Secretary to visit the fortified vault, last visit was 1948 Last Congressional visit was 1974 Speculation over existence of gold in Fort Knox is rife […]
The Fed Will Blink
The Fed Will Blink Honest Profession GUALFIN, ARGENTINA – The Dow rose 174 points on Thursday. And Treasury Secretary Steve Mnuchin said we’d have a new tax system by the end of the year. Animal spirits were restless. But which animals? Dumb oxes? Or wily foxes? Probably both. Since Thursday there have been two additional […]
