Betconstruct Beats

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And this is with various forms of lockdowns persisting in Europe and the U.S., which should mute industrial demand for commodities. Paper currencies are dying. That’s what’s happening, pure and simple. And they are about to get their death blow.

What death blow exactly? Short term nominal U.S. dollar interest rates will be negative within precisely 4 weeks.This is because Janet Yellen, now Secretary of the Debt, has now begun the process of dumping $929 billion directly into the U.S. banking system by the end of March. This is in addition to the $1.9 trillion “stimulus” bill and $1,400 checks to every American about to get through in a matter of weeks.

This process of dumping nearly $1 trillion into the U.S. banking system has already begun. How is it going to work? There is currently a $1.5 trillion short term bill hamster wheel that the U.S. Treasury has been running on like a crazed mouse since April. They issue about $1.5 trillion in short term paper every month and pay it back with about the same in new short term issuance. They have about $1.6 trillion stuck in their bank account at the Federal Reserve, and that money is now coming out to pay down that hamster wheel. The issuance of new short term paper is slowing down. All this new money is going to stuff banks so full of short term cash that they will be forced to slam it into the existing supply of short term paper to such an extent that the rates are going to go negative, nominally. Nobody knows how deeply, but it’s definitely coming, probably in the next few days.

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Black Cube, an intelligence firm hired by Playtech in 2020 to look into alleged illegal behaviour at its rival Evolution, released a divisive report into Evolution’s actions. Evolution denied and refuted much of its findings.

Evolution then commissioned Spectrum Gaming Group to produce a report on its actions and the validity of the Black Cube report. Produced in 2022, the report has long been subject to confidentiality despite Evolution claiming the report exonerated the company.

Playtech on Wednesday published a statement highlighting what it claimed were compliance failures at Evolution, written into the Spectrum report.

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This is only possible if the club in question allocates at least 0.75% of prescribed profits over $1 million to community-focused activities and services. These profits make up two-thirds of the ClubGRANTS scheme funding. 

The final third derives from a further 0.4% of a club’s gaming machine profits over $1 million during a tax year. 

However, the scheme has faced ongoing scrutiny and criticism. Clubs can direct the funds towards upgrading their own facilities, and there is no mandated verification for how the grant recipients must deploy the money.