Banks Are Literally Begging Americans To Take Out Loans And Max Out Credit Cards — DO THE OPPOSITE. Pay off your debts, and start using CASH for everything.

Last month when looking at the latest bank balance sheets, we showed that something was “terminally broken” in the US financial system: specifically, we showed that a “stunning divergence” had emerged between the total deposits at big banks which had just hit a record high courtesy of the Fed’s QE (as the fungible reserves injected by … Read more

“Made in China” Products Suffer Logistics Problems

Chinese home appliance company Hisense has big plans to sell more goods overseas, but it said global shipping congestion has multiplied costs and caused delays. It’s not been easy, generally, for Chinese multinationals. Out of about 3,400 Chinese companies that operate internationally, only about 200 make more than $1 billion in sales overseas, said James … Read more

Twitter enlists Associated Press for fact-checking help despite record of journalistic flubs

Twitter this week announced the rollout of a new fact-checking initiative that will rely in part on a major news organization that regularly published reports on the now-debunked Trump-Russia collusion theory and other disproven attacks on the Trump administration. The social media company said in an announcement on Monday that it had enlisted both The … Read more

New Infrastructure Bill Looks to Raise $30B Through Crypto Taxes

A bipartisan infrastructure bill in Congress proposes to raise $28 billion from crypto investors by applying new information reporting requirements to exchanges and other parties. According to a draft copy of the bill shared with CoinDesk, any broker that transfers any digital assets would need to file a return under a modified information reporting regime. … Read more