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The Consumer Bankers Association: We look forward to working with the government to ensure that Americans have access to the credit they need.The Consumer Bankers Association argues that, however, there is evidence that a 10% interest rate cap would reduce credit availability. If implemented, this would only force consumers to turn to less regulated, more expensive alternatives.The Consumer Bankers Association of America (CBA) reports that U.S. banks have responded to the proposal to cap credit card interest rates, expressing their agreement with President Trumps goal of helping Americans access more affordable credit.On January 10th, a research report from CITIC Securities stated that the Trump administrations raid on Venezuelas capital on January 3rd, kidnapping its president Maduro, was a move that implemented the "Monroe Doctrine Trump Inference" in the 2025 US National Security Strategy, strengthening its control over South American countries. We believe such actions are eroding US national credit and accelerating the undermining of the rules-based international order. However, due to the decline in US military projection capabilities, such "kidnapping" or "decapitation" operations are difficult to carry out in non-South American countries. Since the 21st century, the main buyers of gold by global central banks have been central banks of non-South American countries. Therefore, we believe that following the Venezuelan events, the upward trend in gold prices will accelerate during Trumps term.On January 10th, the Syrian transitional government army stated that despite a ceasefire announced earlier that day, the Kurdish-led Syrian Democratic Forces (SDF) attacked vehicles and positions in the northern city of Aleppo, resulting in the deaths of three soldiers and injuries to at least 12 others. The Syrian armys operations command stated that the army attempted to end the conflict through a ceasefire and allowing the SDF to withdraw, but the latter continued to attack vehicles, shell military positions, and assault soldiers. The statement said that the deadline given to the SDF for withdrawal had expired, and the army announced the launch of a clearing operation in the Sheikh Maksud district of Aleppo, further diminishing the likelihood of any future agreements with the SDF.

Bitcoin falls below $19,000 as cryptos creak under rate hike risk

Skylar Shaw

Sep 20, 2022 14:27

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On Monday, cryptocurrency prices hit new lows as a result of regulatory worries and a general investor reluctance to engage in risky assets due to impending interest rate increases.


By market value, Bitcoin, the most valuable cryptocurrency, dropped almost 5% to a three-month low of $18,387.


The second-largest cryptocurrency, ethereum, lost 3% to a two-month low of $1,285 and had lost more than 10% in the previous day. The majority of the smaller tokens had larger losses.


Over the weekend, a significant update to the Ethereum blockchain—which supports the ether token—called the Merge changed how transactions are handled and reduced energy consumption.


The value of the token has decreased amid rumors that comments made last week by Gary Gensler, chairman of the U.S. Securities and Exchange Commission, suggested the new structure would draw further regulation. The upgrades' surrounding trades were likewise unwound.


The regulatory outlook is guesswork, according to Matthew Dibb, COO of Singapore's Stack Funds cryptocurrency platform.


Since the Merge, the markets have shed a lot of their excitement, he said. Given the uneasy global background, he said, "It's truly been a sell-the-news sort of event," and predicted that ether will test $950 in the near future.


"From a basic and technological standpoint, the current situation does not appear promising. There isn't a clear quick positive trigger that will support these markets and inject a ton of fresh cash and liquidity, in our opinion.

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