Activity tagged "US politics"

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Trump is seeking to direct Americans' retirement funds to a sector in which he and his family are heavily invested.

“Donald Trump set to open US retirement market to crypto investments”.
Jamie John, Stephanie Stacey, and Antoine Gara in Financial Times.
Donald Trump is preparing to open the $9tn US retirement market to cryptocurrency investments, gold, and private equity in a move that would spur a radical shift in the way Americans’ savings are managed.
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The House has passed the GENIUS Act stablecoin bill, sending it to Trump's desk where he will sign it. They've also passed the CLARITY Act crypto market structure bill and the Anti-CBDC Surveillance State Act, both of which still need to go to the Senate.

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“I don't want to leave”.
Molly Monk in Men Yell at Me. Published .
During the last act of Cabaret, I wanted to scream at the characters to leave Berlin because I know what disasters await them just years away. I don’t know if I’m being naïve or wise for thinking that what’s happening in our state now isn’t an early warning sign telling me and everyone I love to leave while we still can. I don’t know if staying is the ultimate act of defiance and joy in the face of people who wish to erase me and my friends and the beautiful life we are building.
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It's no coincidence that the Fairshake crypto super PAC has timed its press release announcing they have $140 million ready for the midterms as Congress is considering three crypto bills during "Crypto Week". Pass our bills, or we will spend millions against you in the midterms.

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“What Would You Do?”
Rusty Foster in Today in Tabs. Published .
What Would You Do? Of course we would stand up for what was right. Of course we would hide the fearful and innocent targets of the regime in our attics and crawlspaces. Of course we would oppose the dictator, join the resistance, maybe… sabotage a bridge??? It’s unclear which bridge or how that would help, but surely we would know these things when and if that unthinkable day came. We would be ready, and we would resist. And now, here it is. As Donald Trump laughed and mugged for cameras in front of the chain link fences of Florida’s new concentration camp, as Kristi Noem and Ron DeSantis joked in front of the kennels they had built for human beings they planned to abduct and confine there, human beings they planned to starve and torture there, what I did was: paint my bedroom. What Would You Do? I would carefully scrub the accumulated decades of grease off the old paint with TSP, making sure to rinse well so as not to leave a residue that hampers adhesion by the new paint. I would cut in with a 2 ½“ angled brush around all the window and door trim. I would listen to podcasts while I shuffled along the baseboard on my knees, pausing occasionally to stretch my aching back. I would make hot dogs for lunch and eat them while reading posts on Bluesky about the passage of a bill through Congress that will ramp ICE funding up to levels competitive with other countries entire military. I would text my wife in New Zealand that things back home are pretty bad, and I don’t know what to do.
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Federal Housing Finance Agency Director William Pulte: “After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage” 

Order Issuing Directive to Consider Cryptocurrency as an Asset for Single-Family Loans Delivered to Fannie Mae and Freddie Mac WHEREAS, Fannie Mae and Freddie Mac (the Enterprises) maintain a pivotal role in the U.S. housing finance system by providing stability and liquidity to the secondary market for residential mortgages through prudent standards to help ensure sustainable, long-term homeownership. WHEREAS, cryptocurrency is an emerging asset class that may offer an opportunity to build wealth outside of the stock and bond markets. WHEREAS, cryptocurrency has not typically been considered in the mortgage risk assessment process for mortgage loans delivered to the Enterprises, without converting the cryptocurrency to U.S. dollars prior to loan closing. WHEREAS, U.S. Federal Housing FHFA has now determined that the consideration of additional borrower assets in the Enterprises' single-family mortgage loan risk assessments may enable the Enterprises to assess the full spectrum of asset information available for reserves and to facilitate sustainable homeownership to creditworthy borrowers. NOW THEREFORE, U.S. Federal Housing FHFA, as conservator, hereby directs each Enterprise to prepare a proposal for consideration of cryptocurrency as an asset for reserves in their respective single-family mortgage loan risk assessments, without conversion of said cryptocurrency to U.S. dollars. Each Enterprise is directed to consider only cryptocurrency assets that can be evidenced and stored on a U.S.-regulated centralized exchange subject to all applicable laws. Additionally, each Enterprise is directed to consider additional risk mitigants per their own assessment, including adjustments for market volatility and ensuring sufficient risk-based adjustments to the share of reserves comprised of cryptocurrency. Prior to implementing any changes, each Enterprise must submit and receive approval from its Board of Directors prior to submitting to U.S. Federal Housing FHFA for review. This Order is effective immediately and should be implemented as soon as reasonably practical.

Notably, at this point they are merely directed to “prepare a proposal for consideration”.

Also notable: “Each Enterprise is directed to consider only cryptocurrency assets that can be evidenced and stored on a U.S.-regulated centralized exchange”.