#futuremash

Billionaire investor Ray Dalio believes it’s only a matter of time before the Federal Reserve loosens its monetary policies. In a new Fox Business interview, Dalio says that central banks around the world are losing money due to the high-interest rate environment. According to Dalio, the rise in interest rates over the past year or so has been costly to a lot of central banks as they have to pay…

Billionaire investor Ray Dalio says that the “cash is trash” mantra is no longer true amid significant shifts in the macroeconomic landscape. In a new discussion at the Greenwich Economic Forum, Dalio says financial conditions have changed enough in the last several years that cash is now a “relatively attractive asset class,” at least for the time being. “Cash now has a relatively attractive…

Billionaire investor Bill Ackman is issuing a warning, saying that there’s an imbalance between buyers and sellers of US government bonds. In a new CNBC Television interview, Ackman says there are plenty of reasons why the Federal Reserve could make abrupt changes to its benchmark interest rates. According to the billionaire, the US bond market looks shaky as the top foreign holders of government…

Basic income trials are rolling out across the US as governments and organizations prepare to hand out millions of dollars with no strings attached. A new guaranteed income pilot in Sacramento, California is set to disperse a total of $780,000 over the course of a year. The pilot will give $500 per month to 130 families to determine how cash handouts can help people who are struggling to keep a…

London-based lender Barclays says it plans to terminate the accounts of thousands of British citizens who are currently residing outside the United Kingdom. The bank says it’s contacting expatriates living outside the UK about the coming closure of their savings or current accounts. Barclays says all customers must have an acceptable UK address or else the lender will permanently shutter their…

A bank with about $670 billion in total assets will pay a multi-million-dollar fine after admitting to misleading credit card customers for years. The Australian Securities and Investments Commission (ASIC) says Australia and New Zealand Banking Group Limited (ANZ) has agreed to pay $15 million AUD, worth about $9.65 million, after the country’s Federal Court found that the lender violated the…

The global economic alliance known as BRICS is reportedly considering the launch of a global payments system that could sidestep the banking industry standard SWIFT. According to a new report from the Russian state-funded news organization TASS, the group’s finance ministers are evaluating the feasibility of a unified payments network, and will formally discuss its potential at the coming BRICS…

The Congressional Budget Office (CBO) is revising its projections for this year’s US budget deficit, saying it will be significantly higher than previous estimates. In a new report, the agency says it now projects government expenditures will outpace revenues to the tune of $1.7 trillion in 2023. “On the basis of its estimate of the deficit through July and preliminary estimates of revenues and…