Money & Markets Report: November 17, 2022


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Theme: Mr. Global Doubles Down

Interview: Food Series: The 30×30 Land Grab with Margaret Byfield

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162 Comments

  1. For regional compliance auditors that work with Malvern and other community banks, please review CFPB (Consumer Finance Protection Bureau) SBREFA (Small Business Regulatory Enforcement Flexibility Act) outline proposal on Dodd-Frank Section 1033.

    It seeks industry comment on “open banking APIs” that would put consumers “in control of their financial data”, e.g. mandating live feeds from banks to fin-tech firms. A proposed rule could follow in 2023 with final rule by 2024.

    https://files.consumerfinance.gov/f/documents/cfpb_data-rights-rulemaking-1033-SBREFA_outline_2022-10.pdf

    https://www.americanbanker.com/news/cfpb-likely-to-punt-data-sharing-rule-into-2023
    “The rule has been hotly anticipated because it would address the ability of aggregators and other fintechs to obtain consumers’ bank account data through screen scraping and application programming interfaces. These firms seek broad access to help consumers manage their money, but banks and consumer advocates generally want the CFPB to narrow the scope of data collected and provide increased security, privacy and other protections.”

    UK Open Banking: https://www.openbanking.org.uk/

    Note the similarity with “interoperability” of vaccine credentials for travel, and health data portals. Elon Musk has expressed interest in converting Twitter into a China-style WeChat universal do-everything app that handles payments (search for X.com). Open Banking APIs could allow a private company to aggregate similar transaction data as CBDC, with private policy on kill switches and transaction control.

    In China, life is constrained without WeChat, https://restofworld.org/2022/handwritten-wechat-apology-letters/

  3. In (dis)honor of the FTX unprecedented scandal I want to nominate this week’s theme:
    “The Crime that stays is the crime that pays!”. This has taken Matt Taibbi’s 2008 bankers bailout classic description to a higher level via “crypto”: “a great vampire squid wrapped around the face of humanity, relentlessy jamming its blood funnel into anything that smells like money…” This criminal’s professor, father was anti cash as well. Ukraine is their protected crime base–bioweapons labs, money laundering, election fixing, etc. And our military is protecting it? I look forward to your astute insight, as always, Catherine. Thanks. Also this Twitter recap of FTX:
    https://twitter.com/gencostocks/status/1591152036766445568?s=20&t=VuyYd9IwjVzqKFfY5xy7Qg

    1. YES,EXACTLY! WELL SAID!AWAITING CATHERINE’S ANALYSIS/INSIGHT..ALSO NOTICING MORE SIGNS RE:EXACT CHANGE/COIN SHORTAGE…INDICATING?

  5. I was watching “The big reset movie” (movie of the week on solari homepage). Great documentation and very informative. I can only recommend.

      1. Dear Margaret

        https://thebigresetmovie.com/area-video/

        It’s available in Spanish, English and French. Very professionally made! Please pay special attention to the sequence with the MAC addresses. I was checking out this phenomena in a local grocery store yesterday. Though I will have to do more to gain certainty.

  6. Sorry if this has already been asked. Regarding membership subscription via alternative to CC,PP etc. Has anyone looked into using a Crypto currency for payments? Setting up a wallet and address to receive crypto to run on PC/Smart phone is not too difficult and some offer anonymous end to end encryption. Assuming CBDC’s are going to be weaponized does it not make sense to use similar tools to push back?

  7. ANY INFO AVAILABLE RE:
    SEC INVOLVEMENT IN FTX TAKE-DOWN
    AND THE MONEY LAUNDERING VIA UKRAINE….???
    TRYING TO MAKE CBDC LOOK GOOD????

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