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2023-03-31 13:01:36 Economist Peter Schiff Warns of US Dollar Devaluation and 'Biggest Economic Disaster' in History

Economist Peter Schiff has warned of “the biggest economic disaster” in U.S. history. He stressed that we are on the cusp of a financial crisis and “it’s going to be much bigger than the last.” In addition, he said the U.S. dollar is being debased in order to fund the bank bailouts.

Of course, we just compounded the problem with bigger mistakes and now the U.S. economy is poised on the biggest economic disaster in its history.

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2023-03-30 12:41:27 New RESTRICT Act Could Mean 20 Years In Prison For Using A VPN To Access Banned Apps

Under the new Restrict Act ("ban TikTok act") VPN users face 20 years in jail and a $1mio fine if they evade US internet censorship.

After several failed attempts to ban the app from the U.S., the new RESTRICT Act, ostensibly targeting cyber-security threats, is being pushed by the same people that previously advocated banning TikTok. It has far-reaching consequences for social media and harsh punishments for violators.

The RESTRICT Act could, theoretically, be applied to everything from citizens, corporations, and organizations to labor unions. To be fair, the bill does clarify that anyone prosecuted under the act must be engaging in activities and using technology to harm the U.S. government.

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2023-03-30 12:32:16 Tech stocks back as a haven? ‘It’s a big mistake,’ say market analysts

It’s a big mistake for investors to view tech as a safe haven as fundamentals of the tech sector have deteriorated since last year, say market analysts.

If we look at the very interest rate sensitive-tech industry from a valuation perspective, what’s been happening is that a lot of those stocks went down much further than the market in general last year. You’re seeing investments going back into those now.

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2023-03-30 12:29:13 World's Largest Asset Manager Blackrock Predicts No Fed Rate Cuts This Year

The world’s largest asset manager, Blackrock, does not see the Federal Reserve cutting interest rates this year. “That’s the old playbook when central banks would rush to rescue the economy as recession hit. Now they’re causing the recession to fight sticky inflation – and that makes rate cuts unlikely, in our view,” said the firm’s strategists.

We don’t see rate cuts this year – that’s the old playbook when central banks would rush to rescue the economy as recession hit. Now they’re causing the recession to fight sticky inflation – and that makes rate cuts unlikely, in our view.

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2023-03-30 12:27:06 EU Lawmakers Vote to Impose €1,000 Limit on Unidentified Crypto Transactions

EU lawmakers have voted in favor of imposing a €1,000 limit on crypto transactions where the customer cannot be identified. “Entities, such as banks, assets and crypto assets managers, real and virtual estate agents, and high-level professional football clubs, will be required to verify their customers’ identity, what they own and who controls the company,” the European Parliament emphasized.

To restrict transactions in cash and crypto assets, MEPs want to cap payments that can be accepted by persons providing goods or services. They set limits up to €7,000 for cash payments and €1,000 [$1,084] for crypto-asset transfers, where the customer cannot be identified.

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2023-03-29 19:11:43 Top 20 Countries With the Most Ultra-Wealthy Individuals

The global population of Ultra-High Net Worth Individuals (UHNWIs) grew by 46,000 to a record of 218,200. The report notes that UHNWIs benefited from a surge in the value of financial assets last year.

These increases are more than double the increases recorded in any other year this century.

The biggest increases, aside from the U.S., were China (5,200), Germany (1,750), Canada (1,610), and Australia (1,350).

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2023-03-29 14:23:16 Why You Should Destroy Your Smart Phone Now?

So-called ‘smart phones’ — far more accurately described as ‘dumb phones’ — combine a mobile phone with a watch, with a road map, with a tourist atlas of the world, with a digital camera, with a personal stereo system, with a music collection, with a video recorder, with a diary, with a calculator, with a credit card, with a travelcard, with an office key, with a torch, with a newspaper, with a television, with something to read on the train, and probably a lot more.

The kind of digital camp in which you are imprisoned is — literally — in your hands. Get rid of them. Smash them! We have nothing to lose but our chains. We have a world of freedom to win.

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2023-03-29 14:11:47 Treasury Official Warns of Complete Economic Implosion if US Dollar Loses Global Reserve Currency Status

Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury Monica Crowley has warned of “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. “That would mean the end of the U.S. dollar,” she said, predicting that “there would be a complete implosion of the global economic system.”

If that were to happen, there would be a complete implosion of the global economic system, but certainly the American economic system. And if that were to happen, you’d be looking at sky-high inflation just raging, that would mean the end of the U.S. dollar.

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2023-03-29 14:06:55 FED: Banking Crisis Tips US Economy Toward Recession

The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, says the current banking crisis has pushed the U.S. economy closer to a recession. “We have fundamental issues, regulatory issues facing our banking system,” the Fed official stressed.

It’s an unfair playing field that puts enormous pressure on regional banks and community banks, and that needs to be addressed. We need regional banks in America, we need community banks in America.

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2023-03-28 19:02:24 What are the risks of artificial intelligence (AI)?

With great power comes great responsibility. Organizations can mitigate the risks of applying artificial intelligence and advanced analytics by embracing principles.

The creation of artificial intelligence has been postponed for several millennia, and current AI technology is still far from being able to re-design itself in any significant sense. Even now, though, things with artificial intelligence may go wrong. Unfortunately, AI systems may run amok on their own, with no outside intervention.

Whether it’s the increasing automation of certain jobs, gender and racially biased algorithms or autonomous weapons that operate without human oversight (to name just a few), unease abounds on a number of fronts. And we’re still in the very early stages of what AI is really capable of.

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