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🇰🇷 #SouthKorean Officers Used #military Secrets to Buy Cryptocurrency!
Several officers from the South Korean army reportedly used classified military passwords as collateral to secure #Loans for cryptocurrency investments. 💰
📰 Local media, citing the Ministry of Defense, revealed that these active-duty personnel in Chungcheong were unable to obtain funds from #CommercialBanks , leading them to approach private lenders with sensitive military information. 🕵️♂️
The shared passwords, classified as "third-level secrets," granted access to barracks and other military facilities.
👀 Investigations are ongoing, and the officers may face charges under the Military Secret Protection Act. Most of the suspects are in their 20s and 30s. Further details are still under wraps.
#BinanceLaunchpoolHMSTR
Several officers from the South Korean army reportedly used classified military passwords as collateral to secure #Loans for cryptocurrency investments. 💰
📰 Local media, citing the Ministry of Defense, revealed that these active-duty personnel in Chungcheong were unable to obtain funds from #CommercialBanks , leading them to approach private lenders with sensitive military information. 🕵️♂️
The shared passwords, classified as "third-level secrets," granted access to barracks and other military facilities.
👀 Investigations are ongoing, and the officers may face charges under the Military Secret Protection Act. Most of the suspects are in their 20s and 30s. Further details are still under wraps.
#BinanceLaunchpoolHMSTR
Foreign investors continue UST buying💰
While common wisdom would have blamed foreign selling of USTs for the current rise in yields, that would once again be a wrong understanding, as foreign investors have still been net buyers of treasuries in 2023 to the tune of $275bln YTD. The elephant in the room is really the Federal Reserve as they continue with their QT program, being a net 'seller' of $720bln of UST as they allow their balance sheet to run-off. US commercial banks are the only other major seller with $170bln of net selling as they de-risk their duration holdings on the back of the massive move higher in rates. On the other hand, mutual funds and money-market funds have collectively funded the net-divestitures from the Fed as individual savers have collectively purchased $875bln to take advantage of the higher cash rates. In fact, GS estimates that 73% of the year's UST buying has been made up by US households. Who says Americans don't do any saving at all?
#FederalReserve #CommercialBanks #MutualFunds #USHouseholds #macro
While common wisdom would have blamed foreign selling of USTs for the current rise in yields, that would once again be a wrong understanding, as foreign investors have still been net buyers of treasuries in 2023 to the tune of $275bln YTD. The elephant in the room is really the Federal Reserve as they continue with their QT program, being a net 'seller' of $720bln of UST as they allow their balance sheet to run-off. US commercial banks are the only other major seller with $170bln of net selling as they de-risk their duration holdings on the back of the massive move higher in rates. On the other hand, mutual funds and money-market funds have collectively funded the net-divestitures from the Fed as individual savers have collectively purchased $875bln to take advantage of the higher cash rates. In fact, GS estimates that 73% of the year's UST buying has been made up by US households. Who says Americans don't do any saving at all?
#FederalReserve #CommercialBanks #MutualFunds #USHouseholds #macro
