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In response to a reader, I record this important podcast. Take notes and think outside the box
-US Treasury yields are leaving their long-term range, I estimate there is a high likelihood of an expulsive and unexpected increase in US Treasury yields moving forward into next year and later. I base this on my 40 year study of the bond markets.
-The 2027 timeline is discussed in greater detail
-My plans for my real estate
-Gold and silver prices
-The upcoming global war and force majeure
More kayfabe….
Bessent says Treasury is seeking ways to deliver Trump’s $5,000 dividend without adding to deficit
Yahoo Finance
Treasury Secretary Scott Bessent told lawmakers on Tuesday that the US Treasury is examining whether the Trump administration can give Americans a $5,000 dividend without going through Congress, and he believes there is a way to do it without adding to the deficit.
Testifying before the House Financial Services Committee, Bessent said Treasury officials have been developing the proposal for some time, though he declined to provide specifics on how the plan would be funded without driving up the nation’s debt.
“That is in process right now,” Bessent said. “I’m not ready to discuss it at present, but at Treasury, we’ve been working on it for quite a while.”
“I think putting more money in the American people’s pocket should be an objective for everyone, and I believe there are ways to do it that would not affect the deficit,” he added.
If executive action isn’t legally viable, Bessent said, the administration is prepared to take the legislative route. “If it becomes clear that we need congressional authority, I will meet with [House Speaker Mike Johnson], and I look forward to it.”
At a Republican gathering in Dallas last week, President Trump promised to give every American a $5,000 “Trump Dividend” if the Republican Party wins in the midterms and maintains control of both the House and the Senate.
Analysts have estimated that sending a $5,000 check to every adult would cost 1.3 trillion.
CLARITY Act Fails With 41 Nays: ‘Congrats to the Big Banks,’ Scott Melker Says
The CLARITY Act all but died for 2026 in the Senate, falling short of the 60 votes needed to advance as key Democratic negotiators who spent months on the bill voted no.
Who Voted No
Eleanor Terrett reported on X that the Democrats who crossed over included some of the bill’s most active negotiators:
Sen. Kirsten Gillibrand (D-NY)
Sen. Mark Warner (D-VA)
Sen. Cory Booker (D-NJ)
Sen. Raphael Warnock (D-GA)
Sen. Ruben Gallego (D-AZ)
Sen. Angela Alsobrooks (D-MD)
Sen. Catherine Cortez Masto (D-NV)
Widely-followed crypto analyst Michaël van de Poppe posted on X that 41 nay votes killed the cloture motion outright.
Sen. Cynthia Lummis (R-Wyo.) made the final floor pitch before the vote. “Do not let this day be the day we handed our future to someone else because we were too afraid to finish what we started,” she said.
What the Industry Is Saying
Widely-followed market commentator Scott Melker posted on X: : “Congrats to the big banks on lobbying to kill Clarity.”
He added that the GENIUS Act remains law and crypto exchanges can still offer yield as a result.
Meanwhile, analyst Noelle Acheson posted that nothing more on crypto market structure should be expected until after the midterms.
What Comes Next
CoinDesk reported that the SEC and CFTC move forward on their own regulatory agendas.
The SEC recently proposed Regulation Crypto Assets to clear a path for crypto projects to raise money without immediate registration requirements, and the agency is working toward approving a narrow version of securities tokenization.
SEC Chair Paul Atkins has warned those rules remain easy to reverse without a law backing them up.
On the political side, Fairshake, the leading crypto super PAC with over $100 million in campaign cash, has not decided how to handle senators who voted no ahead of the November 3 midterms.
A Democratic House majority puts Rep. Maxine Waters back at the helm of the House Financial Services Committee, while a Democratic Senate sweep hands the Senate Banking Committee to Sen. Elizabeth Warren (D-Masa.), one of the industry’s sharpest critics.
Meanwhile, the GENIUS Act stablecoin law remains the industry’s only major legislative win from this congressional session.
Interesting. Lets see if the SEC move ahead with their own crypto agenda, which looks likely.
Stone, thanks for the podcast! One thing seems sure. We are getting very close to major tectonic shifts in these latter times!
Stone cooks again… thanks very much for the thorough analysis and making these perspectives available to all your readers. Lots of food for thought in re-oreintating to the changing global dynamics
Pay attention to the third paragraph! The Trump administration is preparing a $2.8 billion arms package for Israel, including several thousand 2,000-pound bombs, in what would be the largest single U.S. sale of the powerful munitions to Israel in recent years.
The package includes 20,000 MK-84 bombs and 20,000 BLU-117 bombs, along with 20,000 I-2000 Penetrator warheads, The Washington Post reported Tuesday, quoting a U.S. official who spoke on condition of anonymity to discuss military matters.
The weapons would be purchased through Foreign Military Financing, a program under which the U.S. provides funding that Israel uses to buy American military equipment.
Thanks for the update. Trying to get my ducks in a row. Have kids, grandsons, sister and nephews I am responsible for. I have my rural place but still need to live closer to a big city for work. Never enough time or enough money it seems to accomplish everything I want to.
Thanks for everything you do. It is definitely appreciated.
Am I doomed? I live in the UK
Not looking good, especially if the Western nation states need to curtail their financed spending.