A total of $7 trillion is now fully sidelined as a group of investors refuse to pour their cash into risk assets, according to a new report. New figures show the amount of capital sitting on the sidelines in money market funds is at a fresh record high, reports Reuters. Money market funds allow people […]
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A staggering $5 billion in lost and forgotten cash and assets are waiting to be claimed in one US state, according to a new report. The Illinois Treasury Department says residents are sitting on a serious pile of unclaimed assets, reports the Chicago Sun-Times. The assets are typically located in neglected bank accounts and safe […]
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The Secret Service has been called in to investigate the discovery and seizure of $304,500 in fake U.S. currency at JFK International Airport in New York. U.S. Customs and Border Protection says a man on a flight from Ecuador tried to bring the trove of fake cash into the country, reports NBC New York. The […]
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JPMorgan Chase is refusing to pay a monthly pension to a widow whose husband worked at the bank for 10 years before his untimely death. Elaine Silverberg’s departed spouse Melvyn worked as a systems analyst at Chase Manhattan Bank from 1969 to 1979, reports the New York Post. Melvyn died in 1988 due to multiple […]
The post JPMorgan Chase Denies $53,000 Pension Payout, Widow Says Bank Treated Her Like ‘Insignificant Cockroach To Be Stepped On’: Report appeared first on The Daily Hodl.
A group of residents in one US city will soon receive thousands of dollars from a new guaranteed income pilot program. Officials in the city of Salem, Massachusetts say they had to abruptly close registrations for Uplift Salem due to an “astounding” amount of demand. The program will distribute a total of $600,000 to people […]
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A Mississippi trucker is reportedly fighting to get his life savings back after police seized it during a traffic stop. In September of 2020, Rae Young Chung was in his truck delivering auto parts to a business in Georgia when he was pulled over by a narcotics officer. According to court documents, Chung was pulled […]
The post Police Seize $225,000 From 70-Year-Old Man Despite No Crime Committed, Triggering Years-Long Lawsuit: Report appeared first on The Daily Hodl.
The US Department of Justice says it’s apprehended six men accused of stealing over $400,000 from ATMs in New York. The men allegedly used a device to infect the New York ATMs with malware, forcing them to dispense all the cash they contain in a relatively short period of time in a scheme known as […]
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Fundstrat’s Tom Lee says markets are getting a boost from $6 trillion that’s been sitting on the sidelines. In a new interview on CNBC’s Squawk Box, Lee says that the massive amounts of liquidity at the ready may now be more relevant for determining whether markets remain in an uptrend than macroeconomic data. “We’ve kind […]
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The lessons from recent hurricanes shouldn't be ignored. It’s time to upgrade internet infrastructure and position people to achieve financial sophistication.
Hurricanes and other natural disasters remind us that our ambitious human efforts to build financial technologies and new forms of digital money can easily be rendered futile. Paying for Uber rides with a contactless card, trading Bitcoin, and using Venmo and Cash App to make purchases can often be a mechanical, effortless exercise. In a disaster zone, however, all of this is vanity. Surviving natural disasters requires citizens to spend money on food, water, and other basic necessities — and doing that without cash on hand is an unexpected and impossible dilemma.
When natural disasters shatter banks and power grids, how do citizens in the storm’s path of destruction transact? How should communities prepare for financial meltdowns precipitated by Mother Nature?
Natural disasters not only cause widespread destruction and trauma, they drive local economies to a dead halt. Based on survey evidence, Pew Research Center concluded that seven in 10 Americans (72%) reported at least one personal experience with extreme weather in 2024. The Federal Emergency Management Agency (FEMA) also reported that 81 major disaster declarations have already been made in 2024 so far, which is double the number that was recorded two years ago.
Police in a major US city are looking for suspects as reports of people receiving fake $100 bills spread across the community. Authorities in Clare, Michigan say at least five phony $100 bills were discovered inside an Isabella Bank branch, reports Newsradio WSGW. The bills all carry the same phony serial number and were deposited […]
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