Month: January 2023

Federal bank regulatory agencies today issued a statement highlighting key risks for banking organizations associated with crypto-assets and the crypto-asset sector and describing the agencies’ approaches to supervision in this area.

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Source: https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20230103a1.pdf Federal bank regulatory agencies today issued a statement highlighting key risks for banking organizations associated with crypto-assets and the crypto-asset sector and describing the agencies’ approaches to supervision in this area. In particular, the statement describes several key risks associated with crypto-assets and the crypto-asset sector, as demonstrated by the significant volatility and vulnerabilities … Read more

U.S. Economic Calendar Alert! Dates for the 2023 CPI Releases and FOMC Meetings

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by Dismal-Jellyfish 2023 CPI schedule Reference Month Release Date Release Time (ET) December 2022 1/12/2023 8:30am January 2023 2/14/2023 8:30am February 2023 3/14/2023 8:30am March 2023 4/12/2023 8:30am April 2023 5/10/2023 8:30am May 2023 6/13/2023 8:30am June 2023 7/12/2023 8:30am July 2023 8/10/2023 8:30am August 2023 9/13/2023 8:30am September 2023 10/12/2023 8:30am October 2023 11/14/2023 … Read more

If you can’t report in a timely fashion, then don’t do it. What if I told the IRS it would take 50 years to calculate my taxes? Jail would happen.

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by Dismal-Jellyfish Commodity Futures Trading Comission (CFTC) Alert! Swap Data Recordkeeping and Reporting Requirements (OMB Control No. 3038-0096). This is a request for extension of a currently approved information collection. They estimate it takes 1,460,357 hours for 1,732 folks to get swap reporting together… https://public-inspection.federalregister.gov/2022-28548.pdf   https://public-inspection.federalregister.gov/2022-28548.pdf

A PRECEDENT WE SHOULD FOLLOW: India set an ‘incredibly important precedent’ by banning TikTok, FCC Commissioner says.

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India set an “incredibly important precedent” by banning TikTok two and a half years ago, FCC commissioner Brendan Carr said as he projected a similar fate for the Chinese giant ByteDance app in the U.S. Carr warned that TikTok “operates as a sophisticated surveillance tool” and told the Indian daily Economic Times that banning the social … Read more

STATUS OF US DOLLAR AS GLOBAL RESERVE CURRENCY: USD EXCHANGE RATES HIT FOREIGN EXCHANGE RESERVES

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The last three years were complicated for the dominant reserve currency. At first there was the Fed’s $5-trillion money-printing orgy and interest-rate repression. Then there was raging inflation, which the Fed brushed off as “transitory.” Through this period, the dollar fell against other currencies. But then the Fed got religion and began to tighten: since … Read more