Author Topic: Money, the Fed, Banking, Monetary Policy, Dollar, bitcoin, crypto, Gold/Silver  (Read 423117 times)

Crafty_Dog

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Thank you.

Crafty_Dog

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Tucker hypothesized tonight that the surge in BTC was due to paying off hacker blackmailers who shut down our airspace a few days ago (and hit Canada the very next day)

We live in interesting times , , ,

ya

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FWIW, Marty Armstrong "February is a PANIC CYCLE in many markets. The cracks are appearing. Pay attention. Watch the Arrays & the Reversals. As I have warned, 2023 was going to be a difficult year. This banking crisis is NOT confined to the United States. We are looking at a global contagion."

He has also been warning of huge disruption in the April/May time frame, both the Feb panic cycle and the summer disruption is being seen in multiple markets, currencies etc.

If there is an expansion of war in Europe, he expects US markets to go up, as money moves to the US for safety.

On Japan "Needless to say, because interest rates were kept artificially low for 15 years, this has undermined the global sovereign bond markets as our politicians never considered. So 2023 may be the emerging market debt crisis. Japan also has the risk of geopolitical events involving both China and North Korea. The major capital is starting to move out of Japan as the future is becoming very uncertain."

« Last Edit: January 19, 2023, 04:45:14 AM by ya »

Crafty_Dog

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I think I caught in the background a snippet on FOX Business wherein some hedge fund guy said Japan is starting to raise its interest rates.  (He felt this would be good for Japanese bank stocks)


ya

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And Genesis files for bankruptcy. The amazing thing is BTC has made up the FTC crash, Celsius, 3AC, Genesis etc.

https://www.cnbc.com/2023/01/20/crypto-lender-genesis-trading-files-for-bankruptcy-barry-silbert-digital-currency-group.html?__source=sharebar|twitter&par=sharebar


ya

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Speakers on...for the BTC hodlers

https://twitter.com/i/status/1616737287190237184

ya

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ya

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ya

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So far so good.


Crafty_Dog

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Crypto capital gains and end of thoughts of anonymity?
« Reply #2411 on: January 25, 2023, 07:20:12 PM »
https://www.theepochtimes.com/mkt_app/irs-alerts-taxpayers-they-must-answer-a-new-question-on-tax-forms-or-face-consequences_5006776.html?utm_source=Goodevening&src_src=Goodevening&utm_campaign=gv-2023-01-25&src_cmp=gv-2023-01-25&utm_medium=email&est=tsGXb0qmI%2B93f1Y%2Ffmr4Rus9sX5Q0YnFXrwvQu20ONGuw775%2F57fS5%2B2ft9NPVLq0%2F1B


The Internal Revenue Service (IRS) issued an alert to taxpayers on Tuesday, reminding them that they must report all digital asset-related income and answer a new digital asset question on their 2022 federal income tax return or face consequences such as delayed refunds or even penalties.

The IRS said in a Jan. 24 release that a key change on 1040 forms this year is that the agency has replaced the term “virtual currency” with “digital assets,” in addition to some other modifications to the wording.

The “Yes” or “No” question, which was expanded and revised this year to update terminology, reads as follows:

“At any time during 2022, did you: (a) receive (as a reward, award or payment for property or services); or (b) sell, exchange, gift or otherwise dispose of a digital asset (or a financial interest in a digital asset)?”

The question appears at the top of tax forms 1040, Individual Income Tax Return; 1040-SR, U.S. Tax Return for Seniors; and 1040-NR, U.S. Nonresident Alien Income Tax Return.

“All taxpayers must answer the question regardless of whether they engaged in any transactions involving digital assets,” the agency cautioned.

It is a legal requirement to accurately report all income, including income from digital assets, on federal income tax returns. Failure to do so could result in non-compliance with tax laws and possible penalties.

The IRS has provided a detailed explanation of what constitutes a digital asset, which includes such things as stablecoins, non-fungible tokens (NFTs), and cryptocurrencies.

Taxpayers need to check the “Yes” box if they:

Received digital assets as payment for property or services provided;
Transferred digital assets for free (without receiving any consideration) as a bona fide gift;
Received digital assets resulting from a reward or award;
Received new digital assets resulting from mining, staking, and similar activities;
Received digital assets resulting from a hard fork (a branching of a cryptocurrency’s blockchain that splits a single cryptocurrency into two);
Disposed of digital assets in exchange for property or services;
Disposed of a digital asset in exchange or trade for another digital asset;
Sold a digital asset; or
Otherwise disposed of any other financial interest in a digital asset.
Those who tick the “Yes” box must also report all income related to their digital asset transactions on relevant forms. For instance, an investor who sold cryptocurrency during 2022 would use Form 8949, Sales and other Dispositions of Capital Assets.

Taxpayers should check the “No” box if they merely owned digital assets but didn’t engage in any transactions involving them in 2022.

They should also tick “No” if they merely transferred digital assets from one wallet or account they own or control to another one that they own or control, and if they bought digital assets using real currency like the U.S. dollar.

Many Americans Will See Smaller Tax Refunds
The IRS has warned that many taxpayers should expect a smaller refund this tax season because of tax law changes including the expiration of pandemic-related stimulus payments that would otherwise have boosted refund balances.

“Due to tax law changes such as the elimination of the Advance Child Tax Credit and no Recovery Rebate Credit this year to claim pandemic-related stimulus payments, many taxpayers may find their refunds somewhat lower this year,” the IRS said in a press release on Jan. 23, the day the agency began tax returns for 2022 earnings.

Not all tax filers will see lower refunds as individual circumstances vary; many will see smaller checks.

The Recovery Rebate Credit was a way for millions of Americans to receive pandemic support if they did not receive their full amount via stimulus checks.

This credit was available for missing amounts from the first, second, and third round stimulus checks, and could only be claimed on 2020 and 2021 tax returns.

The stimulus checks were discontinued in December 2021 and the missing third-round amounts could only be claimed on a 2021 tax return filed in 2022.

However, people who may have missed the opportunity to claim missing third-round stimulus payments can review their 2021 tax return and consider filing an amended return.

The Child Tax Credit (CTC) for 2022 tax returns has been reduced to $2,000 per child, down from the expanded amount of $3,600 for children under 6 and $3,000 for children between 6 and 17 in 2021.

Some taxpayers may be eligible for an Additional Child Tax Credit (ACTC), which would allow them to receive up to $1,500 of the CTC as a refund on their tax return.

Also, a tax credit that working parents can use to help cover child care costs or that people with adult dependents can use for the same purpose is lower in 2022.

For tax year 2021, qualifying expenses were raised from $3,000 to $8,000 for one qualifying person and from $6,000 to $16,000 for two or more. The percentage eligible for the credit was increased from 35 percent to 50 percent.

But for 2022, qualifying expenses have been reduced back down to $3,000 for one person and to $6,000 for two or more. The percentage of qualified expenses that can be claimed now range from 20 percent to 35 percent.

The temporary enhancements also made the child and dependent care credit fully refundable. But for 2022, it has become non-refundable, meaning that at best it can only reduce one’s tax bill to zero.


Crafty_Dog

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WSJ: Gold
« Reply #2412 on: January 26, 2023, 03:16:44 AM »
Gold Prices Buoyed by Rally as Investors Get on Board
Most-actively traded futures contract rises about 20% from September low
By Hardika SinghFollow
Jan. 26, 2023 5:30 am ET

Gold is starting the year with gains.

Gold purchases by everyone from central banks to institutions and ordinary investors have lifted the precious metal in 12 of the past 16 sessions, according to Dow Jones Market Data.

The most-actively traded gold futures contract has climbed about 20% from its September low to above $1,940 an ounce—its highest level since April 2022. Prices are poised to gain for the sixth consecutive week, which would mark the longest weekly winning streak since the nine-week run that carried gold to a record of $2,069.40 in August 2020.

The advance comes after rising interest rates dragged gold to a lukewarm 2022. Gold avoided the steeper, double-digit losses suffered by stocks and bonds, but still disappointed those who had expected it to thrive during a time of elevated inflation. Now, signs of cooling price increases and weakening growth are lifting investors’ hopes of a respite from the Federal Reserve’s aggressive rate increases.

The yield on the 10-year U.S. Treasury inflation-protected security, a gauge of the risk-free return investors can get from bonds after adjusting for expected inflation, shot upward last year from a trough of around minus 1% in March to as high as positive 1.75% in October. Rising real yields tend to drag on the price of gold by diverting cash into alternative safe investments. That pressure, however, has abated in recent months, with the 10-year TIPS yield recently back down to 1.2%.

The WSJ Dollar Index has also retreated from its high of last year, falling about 10% since its 52-week high of late September and decreasing the cost of gold for overseas investors.

“If you’re patient enough, gold will start to do well,” said Jimmy Chang, chief investment officer of Rockefeller Global Family Office.

SPDR Gold Shares, the world’s largest physically backed gold exchange-traded fund, has climbed 6.8% so far this month, outpacing the S&P 500 index’s 4.6% advance. Shares of gold producers have rallied, with Barrick Gold Corp. adding 15%, Newmont Corp. gaining 17% and Royal Gold Inc. jumping 17%.

Joe Zappia, co-chief investment officer at LVW Advisors in New York, said he expects “pretty substantial inflows from institutions and investors into gold.”

Hedge funds and other speculative investors have pushed net bullish bets on gold to the highest levels since April 2022, according to Commodity Futures Trading Commission data tracking futures and options during the week ended Jan. 17. That is a sharp divergence from their bearish positioning during fall of last year.

Other precious metals are also enjoying a resurgence. Silver and platinum, both of which are used as precious and industrial metals, have added about 25% and 15% over the past three months, respectively.

Open interest value in futures contracts for the precious metals—a measure of market participation—earlier this month hit its highest weekly level since May 2022, according to J.P. Morgan Commodities Research.

Despite the murky economic picture, some expect China’s reopening could also boost prices, investors said, while worries about a U.S. recession could increase the appeal of stable investments such as gold. Many also expect slowing growth to spur rate cuts as soon as later this year, which would ease pressure on the metal.

ya

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ya

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Disbelief


Crafty_Dog

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Scary how closely that tracks me!!!  :-D :-D :-D

ya

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You may like this too...all spelt out.

« Last Edit: January 29, 2023, 09:28:42 AM by ya »

Crafty_Dog

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 :-D

Crafty_Dog

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Central Banks of Russia and Iran connect
« Reply #2418 on: January 30, 2023, 06:32:32 PM »


Russia and Iran. The central banks of Russia and Iran established a direct communication and transfer channel to encourage trade and financial transactions between the two countries. Russia’s SPFS financial transfer system is now linked to Iran’s SEPAM, which is also connected to 106 other foreign banks, according to the Central Bank of Iran’s governor. Iran was cut off from the SWIFT banking system in 2018, while a number of major Russian banks were also banned from SWIFT last year.

ya

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BTC in Nigeria
« Reply #2419 on: January 31, 2023, 04:21:32 AM »
« Last Edit: January 31, 2023, 04:43:21 AM by Crafty_Dog »

ya

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