A multi-million dollar guaranteed income pilot program is preparing for launch after a US state’s executive and legislative branches gave the green light. The new initiative is designed to help citizens living in the low-income bracket in California. The program, tentatively known as “Guaranteed Income Older Adults,” will target individuals who are 60 years of […]
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New numbers show customers at JPMorgan Chase, Wells Fargo and Bank of America are piling money into unprotected accounts. The lenders’ quarterly Call Reports, submitted to the Federal Financial Institutions Examination Council (FFIEC), show the banks customers now collectively hold $2.62 trillion in uninsured cash. US banks and the FDIC promise customers that deposits up […]
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The US government relies on a network of computers to generate payments out of thin air, including some transactions that remain entirely undocumented, according to Elon Musk. In a new interview on Senator Ted Cruz’s Verdict podcast, Musk says the Department of Government Efficiency (DOGE) has now discovered about 14 “magic money” computers. Musk tells […]
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Daan Struyven, Goldman Sachs co-head of global commodities research, says that global economic uncertainty is raising fears of a weakening US dollar while driving higher demand for gold. In a new interview on CNBC’s Squawk Box, Struyven says that many investors and central banks are on a gold buying spree as they look to the […]
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Billionaire hedge fund manager John Paulson is pouring capital into one of the strongest sectors of the market. Paulson, who runs Paulson & Co., just bought $33.72 million worth of International Tower Hill Mines Ltd. (THM), boosting his firm’s stake by over six million shares in Q1 of 2025. SEC filings show the move has […]
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Vocal opposition to the European Central Bank’s (ECB) digital euro project reportedly swelled after the institution’s payment system crashed last month. TARGET2 (T2), the ECB’s real-time gross settlement system, went down in late February, which prevented payments from being processed for several hours. Now, some members of the European Parliament, a legislative body of the […]
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ARK Invest’s Cathie Wood is predicting that recessionary pressures will soon end, setting the US economy up for a massive economic boom in the second half of 2025. Wood tells her 1.7 million followers on the social media platform X that the US economy is currently experiencing the final stages of a rolling recession, setting […]
The post Cathie Wood Says US Economy in Last Leg of ‘Rolling Recession’ Before Massive Productivity Boost appeared first on The Daily Hodl.
The third-largest bank in the US accidentally credited trillions of dollars to a customer’s balance in a massive payment error, according to a new report. While attempting to add $280 to the customer’s balance, Citigroup mistakenly credited the client with $81 trillion, reports the Financial Times. The payment, for an account in Brazil, was manually […]
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The U.S. Government Accountability Office (GAO) says the federal government made massive payment errors during the 2024 fiscal year. In a new report, the congressional watchdog says the total dollar value of the government’s “improper payments” hit $162 billion. According to the GAO, payment errors can be anything between unintentional administrative errors and fraud. They […]
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Billionaire hedge fund manager Paul Tudor Jones is pouring hundreds of millions of dollars into one of the hottest ETFs on the market. New SEC filings show Jones has nearly doubled his fund’s stake in BlackRock’s Bitcoin ETF, from 4,428,230 shares to 8,048,552 shares. After the big buys, Tudor Investment Corporation is now holding about […]
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