News, Rumors and Opinions Friday Afternoon 5-21-2021
KTFA:
Don961: The US Treasury targets cryptocurrencies to increase its "revenue"
{Economic: Al Furat News} The US Treasury Department has called for a tax on transfers of cryptocurrencies between companies, as it looks to increase revenues to finance a proposed $ 1.6 trillion plan aimed at expanding education and social insurance.
This idea is part of a larger effort to fund a plan to support American families, including raising taxes on the wealthy, and states that “companies that receive crypto assets with a fair market value of more than $ 10,000” must be declared to the “Internal Revenue Service” responsible for taxes .
The Treasury Department indicated that accounts or payment services that use cryptocurrencies such as Bitcoin are also covered by the new reporting requirements.
The ministry said in a presentation of the proposal that “although it constitutes a relatively small portion of business income now, the importance of cryptocurrency transactions is likely to increase in the next decade, especially in light of the existence of a large-scale system for preparing financial accounts reports”.
The taxation of digital assets is part of a larger plan by the Treasury to increase the number of employees and law enforcement authorities at the IRS aimed at bridging the gap between what the government owes and what it actually receives.
The ministry estimated that the gap amounted to about $ 600 billion in 2019 and will rise to nearly $ 7 trillion over the next decade, unless addressed.
The plan to support American families is one of two huge proposals by President Joe Biden. The second is the American jobs plan, which aims to renew the country's infrastructure, at a cost of about $ 2 trillion.
With Democrats controlling Congress by a narrow margin, Biden is under pressure to find ways to fund both plans and get the necessary votes from Republicans to pass them.
Bitcoin, Dogecoin, Ethereum and other digital currencies have increased in popularity and value over the past year as a result of the economic turmoil caused by the Covid-19 epidemic and the promotion of these currencies by some companies.
The Federal Reserve is studying the creation of its own digital currency, and Thursday said that it will publish this summer a study discussing the impact of this on payment systems and the possibility of issuing a digital currency backed by the United States. LINK
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Courtesy of Dinar Guru
Frank26 Something has happened and what I believe is happening is that there are many codes that are being established and are being implemented with the Iraqi banks. I believe they are for imports, exports. I believe it's for an exchange rate that is not public yet...
Walkingstick [via Frank26] Question: [How does a central bank know when their exchange currency rate needs adjusting?] They know it because a central bank monitors its exchange rate on a daily basis. This bull ka-ka that's coming out of Iraq 'We're going to study it for the next 4 years' No central bank studies any exchange rate for no futuristic 4 year projects...every central bank on this planet earth has to intercede on its exchange rate when necessary. By pumping in currency into their markets or taking out currency out of their markets...
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SILVER ALERT! COMEX July Silver Contract = 730Moz of Potential DELIVERIES!! (Bix Weir)
May 21, 2021
Don't expect much in Silver action until mid June (only 3 weeks away!) as the JULY COMEX Delivery Month is shaping up to be a DOOZY! There's currently 730Moz of Silver Open Interest...all of which could be called for DELIVERY! Usually the banksters play their shell games but with the Congressional Meetings coming up next week I'm not so sure they will be able to get away with much more in the short term silver rigging operations. GOT SILVER?!
Lynette Zang Shares a Huge Indication of Currency Collapse | Currency Collapse Begun
Money Martterz: Premiered 23 hours ago
In this video, Lynette Zang shares a huge indication that shows currency collapse is near or maybe already started.