from GoldSeek Radio:
TRUTH LIVES on at https://sgtreport.tv/
House Committee Passes Anti-CBDC Bill
by Steve Bonta, The New American:
The House Financial Services Committee has been busy of late. On Wednesday, September 20, no fewer than 11 separate pieces of legislation were passed out of committee, a number of which have very positive ramifications for the cause of liberty.
Perhaps the most important is H.R. 5403, the “CBDC Anti-Surveillance State Act,” which would ban the issuance of central bank digital currencies, or CBDCs, by the Federal Reserve. The bill, offered by Majority Whip Tom Emmer (R-Minn.), “prevents the Federal Reserve from issuing a CBDC directly or indirectly to individuals or maintaining accounts on behalf of individuals” and also “prohibits the Secretary of the Treasury from directing the Board of Governors of the Federal Reserve System to issue a CBDC and clarifies that a CBDC can only be issued pursuant to congressional authorization,” according to a Financial Service Committee press release.
Pix System in Brazil
by Martin Armstrong, Armstrong Economics:
You likely have not heard of the Pix system unless you live in Brazil. Pix is an “instant payment ecosystem” launched on November 16, 2020, by Brazil’s central bank (BCB). Pix primarily works through the use of QR codes that users use to access their digital accounts for payments. The pandemic helped push people to digitalized banking, and now the system has surpassed the use of credit and debit cards.
Inflation Is Strong, Not the Economy – Ep 919
from Peter Schiff:
TRUTH LIVES on at https://sgtreport.tv/
There’s a herd of elephants in the room
by Peter Schiff, Schiff Gold:
Among the many problems currencies and markets face, there is one which is undocumented: the eurodollar market, which is yet another very large elephant in the room. This article quantifies eurodollars and eurodollar bonds, which are additional to US money supply and credit.
Research by the Bank of International Settlements puts this market at $93 trillion, of which on-balance sheet debt (i.e., customer deposits) of non-US banks is $15 trillion, a sum which should be added to US M2 money supply of $21 trillion for a truer picture of total dollar bank credit. Only a small of this debt is in other currencies.
ALL THE REAL NEWS THEY SEE FIT TO OMIT — MATT & SGT
SGT Report contributor Matt is back to help us break down all the REAL news the mainstream mockingbird whore media sees fit to omit. Thanks for tuning in.
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Congrats, America 
We Made it! Government Debt Spikes past $33 Trillion: +$1.6 Trillion since Debt Ceiling, +$2.2 Trillion from Year Ago
by Wolf Richter, Wolf Street:
Trillions whooshing by so fast they’re hard to see.
The total US national debt spiked by $1.58 trillion since the debt ceiling was lifted, and by $2.16 trillion from a year ago, to $33.04 trillion, according to the Treasury Department’s figures this afternoon.
A stunning amount of new debt that is getting piled on in a stunningly short amount of time, even as the economy has been growing at decent rates! Congratulations, America
CHINA EXPERIENCES HUGE OUTFLOWS OF DOLLARS AS ITS ECONOMY IS IMPLODING
by Harvey Organ, Harvey Organ Blog:
GOLD CLOSED UP $8.40 TO $1932.00 SILVER CLOSED UP 11 CENTS TO $23.20 //PLATINUM CLOSED UP $26.10 TO $936.65 WHILE PALLADIUM CLOSED DOWN $2.65 TO $1248.45/GOOD GOLD COMMENTARY TODAY FROM MATHEW PIEPENBURG//CHINA EXPERIENCES HUGE OUTFLOWS OF DOLLARS AS ITS ECONOMY IS IMPLODING//ITALY OVERWHELMED WITH MIGRANT INFLUX///IRAN AND USA EXCHANGE PRISONERS IN A RANSOM DEAL//COVID UPDATES/VACCINE UPDATES/DR PAUL ALEXANDER/NEW ADDICTS/EVOL NEWS//UAW STILL FAR APART IN THEIR NEGOTIATIONS WITH THE 3 CAR COMPANIES
Fed’s Balance Sheet Liabilities: RRPs Plunge, Reserves Rise after Bank Panic, Currency in Circulation Dips after Pandemic Spike, TGA Gets Refilled
by Wolf Richter, Wolf Street:
QT’s impact on the Fed’s liabilities, and the massive movements between them.
The daily measure of Overnight Reverse Repurchase agreements (ON RRPs) at the Fed have plunged to $1.40 trillion as of Friday. This is down by 45%, or by $1.152 trillion, from the one-day-wonder peak on December 31, 2022.
Under these RRPs, the Fed takes in cash and hands out collateral (Treasury securities). RRPs are a liability for the Fed because they’re cash that the Fed owes its counterparties. The counterparties are mostly US money market funds, but also banks, and government-sponsored enterprises (Federal Home Loan Banks, Fannie Mae, Freddie Mac, etc.). These counterparties use ON RRPs to park their extra cash risk-free at the Fed, and earn interest. As of the rate hike in July, the Fed pays them 5.3% in interest.
Gold Hits Record Highs in CNY, JPY
by Peter Schiff, Schiff Gold:
Gold and silver drifted lower this week before a modest recovery Friday morning, which can be put down to bear closing. Meanwhile, gold hit record levels in yuan and yen terms.
Here’s a breakdown of this week’s gold and silver markets.
In European trading this morning, gold was $1918, unchanged from last Friday’s close after testing the $1900 level yesterday. Silver was $23.05, down 3 cents, after testing $22.30. Comex volumes in gold were moderately healthy, and they picked up in silver yesterday on the sell-off.
Meeting ‘Net Zero’ Goals Will Cost Taxpayers $75 Trillion, Analysis Shows
by Frank Bergman, Slay News:
In order to comply with the globalist “Net Zero” climate goals of the World Economic Forum (WEF) and United Nations (UN), taxpayers will need to spend a staggering $75 trillion, a group of leading analysts has revealed.
To put the figure into context, in 2023, it is estimated that the total amount of money in circulation around the world is roughly $40 trillion.
SDRs Taking Over as New World Reserve Currency?
from ITM TRADING, INC.:
TRUTH LIVES on at https://sgtreport.tv/
