The Latest News about The Department of the Treasury

Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated five Russian entities and three Russian individuals under Executive Order (E.O.) 13694, “Blocking the Property of Certain Persons Engaging in Significant Malicious Cyber-Enabled Activities,” as amended, and Section 224 of the Countering America’s Adversaries Through Sanctions Act (CAATSA).  One of the designated entities in controlled by ...

Earlier this week, the U.S. Treasury granted significant relief to Americans abroad subject to the Repatriation tax. According to the Treasury release, Americans abroad with less than $1,000,000 in total Repatriation tax liability are de-facto granted a one year extension to make the first payment that was otherwise due by June 15, 2018. A bit of background. The Repatriation tax forced large U.S. ...

Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated five Iranian individuals who have provided ballistic missile-related technical expertise to Yemen’s Huthis, and who have transferred weapons not seen in Yemen prior to the current conflict, on behalf of the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF).  These sanctions follow the United Nations Panel of Experts’ ...

Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated five entities and 19 individuals under the Countering America’s Adversaries Through Sanctions Act (CAATSA) as well as Executive Order (E.O.) 13694, “Blocking the Property of Certain Persons Engaging in Significant Malicious Cyber-Enabled Activities,” as amended, and codified pursuant to CAATSA. “The Administration is confronting and countering ...

A Film producer and former Goldman Sachs partner is expected to be nominated as the next Treasury Secretary by President-elect Donald Trump. Steven Mnuchin functioned as Donald Trump’s campaign finance advisor and has now reportedly earned the nod as Mr. Trump’s pick for Secretary of the Treasury. After two failed marriages, Mnuchin is now dating Scottish bombshell Louise Linton. Steven made a ...

For years adherents to the Austrian school of economics have been making the case that regulation bars access to economic opportunity, making it harder for the average producer to access and process from the boons of capitalist interactions. Now validation of that principle is coming from an unlikely place: the federal government. A report recently released by the Office of ...

Ever since the 2009 GM bailout by “progressive” big government ended the pensions of 20,000 retirees at Delphi auto parts manufacturing, the White House and the Department of Treasury have laid the blame on the steps of the Pension Benefit Guaranty Corporation. Internal government emails have been obtained that show the U.S. Treasury Department, run by Timothy Geithner, was behind ...

Congressman Connie Mack (R-FL) today announced that he will be introducing  to the House a resolution for a vote of no confidence in Treasury Secretary Timothy Geithner. This vote mirrors the Senate proposal by Sen. Rand Paul last night. The measure points out Geithner’s mismanagement of the U.S. economy as the reason for the vote and Rep. Mack said, “Secretary ...

Once again, we are faced with another deadline for another manufactured crisis contrived by the Obama administration. According to the Treasury secretary, the federal government will officially run out of money on August 2nd due to the country hitting its debt ceiling. Since 1917 when Congress passed the Second Liberty Bond Act, the United States has had a self-imposed credit ...

It may already be happening. Recently released US Treasury data shows China has been actively reducing its holdings of Treasury debt. China has cut its holdings by $100 billion over the past year to just $844 billion. China has been seeking new ways to recycle its trade surplus and hold back any rise in the yuan. “Diversification should be the ...

       America’s National Debt rose by another $63.7 billion dollars in the month of February, according to the Bureau of Public Debt*. That currently leaves us with a grand total of $14.195 trillions of debt as of March 1st, 2011. In a behind the scenes move to try to postpone having to raise the debt ceiling, the Obama administration and ...

I was young, but I remember the news stories and the dire warnings from family friends, parents and uncles: Japan owns us .. and they may not always want to.  Yeah, that was a long time ago and a major player has changed, but the warning is still relevant. Before the Japanese asset price bubble burst (sound familiar? – yeah, ...

As shameful as it is, a Chinese student gets what we’re struggling to understand – government policies are stifling consumption, exports and therefor the economy. A Bloomberg.com post mentioned that when a professor was discussing the nation’s move to keep interest rates low, a student chimed in with true wisdom: Peking University professor Michael Pettis was discussing declining bank-deposit returns when a ...

The specter of deflation is looming.  Federal Reserve chief Ben Bernanke, the President’s economic advisor Paul Volcker (remember him from the Carter years?), and Treasury’s Timmy Giehtner are all worried that the inflation they have been trying so hard to elicit isn’t coming fast enough – or at all. While inflation is what happens when too many dollars are chasing ...

For decades we’ve all known the Social Security was in trouble. No more!!  MoveOn.org has calmed the waters and published the truth – all while using an absolute fiction. This post at the liberal site attempts to convince its readers that there is nothing wrong with Social Security – move on folks, nothing to see here: Myth: Social Security is ...