Africa's natural resources were always ripe for the picking, however those who are seated on its governments with their corrupt practices are what's rife for harnessing these resources, too. You have some countries that are slowly being sold to China through the absurd loans that these countries are getting for infrastructure and economic development that produces nothing for the citizens and instead, fatten their wallets. Imagine, just the gold and titanium alone in that continent is enough to boost the region's economy by a lot but no, those who have the power to oversee these resources are incompetent and are outright corrupt to the core.
A lot of countries have already tried to capitalize on Africa's minerals but China in particular had tried to establish partnerships with Africa in the early 2000's through mutual business development. Many of those partnerships failed, but I digress. I assume China would've attempted to set up debt traps to African nations had they had an opportunity, but nothing ever came to fruition. A lot of private enterprises are using up cheap African labor and minerals for their products (EV batteries and such). Too many African countries are far behind in development which doesn't give them the technology to monetize natural resources without the use of intermediaries. |
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Banks had nothing to do with the market and its circulation circle but on the same point Whale's whole investment results are dependent on the market and circulation.
Whales have the ability to manipulate the market and banks don't manipulate markets by technicality through their intent, but they can affect markets through reckless conduct because of how much capital they have access to. The '08 global economic crash was entirely self inflicted by large banks creating a housing bubble, taking large amounts of capital and putting them into unstable securities that they knew were unsustainable. Market manipulation involves risk which is why people with large amounts of capital stay away, but nonetheless, whales and banks have access to large amounts of capital and they can shift the market. |
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You're beholden to the assets of whatever these stablecoin issuers have, so in the event of a banking collapse, who's to say the cash equivalents/assets that these stablecoin issuers own don't collapse or lose value to a degree that's lesser than the total liabilities they have? Then they become collaterally damaged in the banking collapses, and stablecoin holders are left with a bunch of useless tokens. In the best case scenario, those tokens are worth proportional to the value of assets left relative to the total liabilities (and that's only if there's still confidence left in the system).
USDT or any other stablecoin shouldn't be viewed as immune to the same type of collapse the banks experience. Read the assets breakdown of these stablecoin issuers -- they don't hold reserves entirely in liquid cash or hard assets immune to fluctuation.
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Jim Bell wanting to create a silk road for political assassinations... seems mentally stable. You're telling me the feds only got this guy for tax fraud  I would love to see what people think about the anarchist movements and actions, generally speaking. This is a sensitive topic, I guess, so, let's try to keep it minimally sane!
Pure anarchism is built on chaos, and in order to achieve anarchism you would need a violent revolution. Pure anarchism exists as a thought experiment. But you can still have a stateless government/economic system through anarcho-capitalism. It would work in theory could work if a civil society wanted it badly enough because it takes in libertarianism, classical liberalism, and combines it into a stateless society with some basic rules of governing without actually imposing a central entity of enforcement. Reminds me of Bitcoin, in a way. |
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In Kraken’s statement, the firm emphasized that it “fundamentally” disagrees with the Treasury’s “conclusion that cryptoassets have no intrinsic value.”
According to the article, Kraken suggests crypto doesn't have intrinsic value. Doesn't seem like the best argument against crypto regulation when regulators are suggesting crypto is akin to gambling. On a deeper level, purchasing any asset involves some level of risk (gold, real estate, stocks) -- does that mean every investment is considered gambling, requiring government intervention? Probably not. You can gamble with crypto trading the same way with any other commodity. Seemingly crypto is the asset that receives all the attention. Wonder why that is... |
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When they mean "crackdown," assume that they mean it -- They won't be going after the large corporations because the corporations give money to these politicians (remember SBF paying off politicians through FTX user deposits, that was not an accident). They'll go after the ordinary citizens/small businesses that don't have access to the highly paid lawyers and accountants. The memo calls on Democratic lawmakers to push back on Republican claims "they are working to provide clarity to the markets by carving out space for the Commodity Futures Trading Commission (CFTC) in crypto" ... "Republicans are proving that they really aren't serious about protecting investors and consumers."
They're so concerned about protecting investors and consumers, yet they so callously spend trillions of dollars systematically reducing purchasing power of investors and consumers forcing them to utilize other assets in the first place. I'm dubious of their claims given their track record. |
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It's political theatre, every time. There is no penalty for the U.S. to raise the debt ceiling, and whoever's in office faces the brunt of the political theatrics in order for the other side to try and get their political victories.
A country that prints its own currency can't default on its debt, they would simply print more currency units if required. That's been the general practice since the gold standard was done away with, except debt's been exponentially rising over the last few decades because the U.S. created a hole that they can't escape. The interest on the debt alone will consume them, requiring even more borrowing.
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If you take the U.S. and EU economic metrics, the recession that everyone seems to be concerned about isn't actually here. Inflation for USD and Euro are still high but the growth forecasts don't point to a recession necessarily. It's possible they're muddying the numbers or the mere possibility of a recession is causing concern and creating less money circulation. Wouldn't be the first time baseless speculation and panic caused economic turmoil. Real estate is collapsing and even the rich people have no options to invest.
Lot of the institutional investors aren't exactly sure where to put their money, so they're sitting on it with stable assets instead of circulating it into business ventures. It can create a feedback loop and cause lesser economic growth within itself. I wouldn't say real estate is collapsing, speculation about what could happen which isn't helpful. |
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I can give an example of how they are supported by the state. For example, in some countries, the interest rate given to banks is lowered under the name of "policy rate". Even though the interest rate is lowered, the banks give loans to the public at a higher interest rate. They both buy the money they lend cheaply and sell it to the public expensively. This is not a positive side of the banks. In this way they are making the people poorer.
This wouldn't be an a big issue if banks weren't rescued when they go under. Obviously the large banks get preferential treatment with bailouts and special rates. The banks sustain the country's currencies so there's an interest by the state to cover them if they fail. This type of relationship is dangerous for the reason that currency no longer becomes zero sum, and there's incentive by the state to generate new currency should the banking industry need it. Also causes reckless lending behavior if the banks know if there losses are covered. |
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I'm expecting Ron DeSantis to announce his candidacy for President this week, so a couple observations as I have been following the rivalry between Trump and DeSantis quite closely over the last few months.
Trump is the favorite for the Republican primaries, DeSantis is the favorite for the general. It isn't clear to me how the Republican establishment will try to reconcile these two dichotomies as a lot of the Republican establishment is unsure who to support. Should a candidate not resonate enough with the Republican base AND independents, then the general election's over. Trump needs help with independents, DeSantis needs help with core Republicans. The betting markets tend to show the same as far as the Republican primary is concerned, Trump comfortably ahead. Once the general approaches, I would anticipate Biden leading up until November granted Trump becomes the nominee.
I predict the electoral map would look identical to that of 2020 if it's Trump v. Biden. DeSantis would be the one to carry Arizona, Georgia, Wisconsin, and Michigan, not Trump. Every poll I've seen has DeSantis either beating Biden, or within the margin of error in all of these states.
If I remember correctly, De Santis has not announced his run for the presidency yet, not only because he is afraid of Trump but also because according to the law of the State of Florida, the governor of such state cannot run for president while holding the office. So in theory De Santis is either supposed to quit his job as governor or change the laws there. Also, Trump lost the independent voters long ago, he is fully counting on the hardcore Republican voters and his own MAGA fans to win the nomination. Considering the razor thin margin Biden won for last time, there is a good chance Trump could end up victorious in 2024. Things are gonna be interesting. It's the other way around. Trump is afraid of DeSantis. Trump is on the offense against DeSantis because he knows that DeSantis is the type of conservative Trump aspired to be and failed at. Biden is a senile vegetable and should not have even come close to winning against an incumbent like Trump. As with most matters, Trump shot himself in the foot and Biden won (the MSM propaganda didn't help, but I digress). If we are to take polling into account (and betting markets if that's your thing), DeSantis is the person that would beat Biden. |
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Now here is the deal – in Nigeria, political manifestoes are written by a hired team who put out textbook ideas and tell the people what they want to hear which is why all the presidential manifestoes in the 2023 presidential election mouthed the same platitudes, an expression of the lack of clear ideological lines in contemporary Nigerian politics.
A lot of politicians do this. Nothing intellectual about them, so they outsource all the creative thinking to someone else who writes a script for them to read. Assume this of every elected official until proven otherwise. |
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I think in the last ten years educators have really woken up to the fact that talking and teaching practical financial advice is important. I remember growing up and learning all sorts of sophisticated algebra and mathematical solutions that have rarely been needed in life. However knowing the basics of things like credit cards, loans, mortgages, interest rates, pensions, stocks, bonds, etc. can be revolutionary in the future prospects of younger generations. It's easy to fall into all sorts of predatory financial traps when you're young, but it's extremely hard to climb back out of them again - often setting back people many years or even decades of possible growth in their money.
The younger generation, despite having access to the internet, have little economic literacy. Blame it on the education system or what have you, doesn't change the fact these people are missing out the early years of their life from investing. Early investments mean compounded growth over a longer period of time. Granted the younger generation don't have a lot to invest, still, small amounts invested early accrue larger growth over 30-40 years than large amounts of funds invested for a shorter period. ...
These AI checkers are hilariously unreliable. Still an important discussion to be had, IMO. AI or not. Financial literacy is at an all time low despite living in a world where information is virtually free. |
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I'm expecting Ron DeSantis to announce his candidacy for President this week, so a couple observations as I have been following the rivalry between Trump and DeSantis quite closely over the last few months.
Trump is the favorite for the Republican primaries, DeSantis is the favorite for the general. It isn't clear to me how the Republican establishment will try to reconcile these two dichotomies as a lot of the Republican establishment is unsure who to support. Should a candidate not resonate enough with the Republican base AND independents, then the general election's over. Trump needs help with independents, DeSantis needs help with core Republicans. The betting markets tend to show the same as far as the Republican primary is concerned, Trump comfortably ahead. Once the general approaches, I would anticipate Biden leading up until November granted Trump becomes the nominee.
I predict the electoral map would look identical to that of 2020 if it's Trump v. Biden. DeSantis would be the one to carry Arizona, Georgia, Wisconsin, and Michigan, not Trump. Every poll I've seen has DeSantis either beating Biden, or within the margin of error in all of these states.
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IMO, a politician or who has a strategic position in a government. strictly prohibited, engaging in a business engaged in the casino industry. plus, the state must make a law that prohibits that casino owners must be outside the government. or the state itself manages, but not for personal owners. this aims to prevent money laundering, illegal campaign funds for elections, or all kinds that are contrary to state affairs.
Article states this was some sort of online "cockfighting" betting platform, and that it was a business entity before the politician got into office. If that's the case, I don't see the conflict of interest. Are we effectively barring politicians from owning private enterprises before entering office? Let the voters decide whether a politician is to be disqualified from public officer because they own a gambling business. If what you say is true, I don't want to assume too far. however, it is clearly implied, that businesses run by politicians in your country are not running well. I mean, there's probably a lot of irregularities going on. anyway, besides money laundering, it could also be tax evasion. I'm just assuming, don't mean to accuse. Moreover, as you said, the casino business in your country is a family business. things like this, very vulnerable to something that smells illegal. yes, as OP told in this thread. If you look to any country, there's a large portion of politicians operating large scale businesses. It isn't a conspiracy. Running for office doesn't pay well, and it costs money. That money either comes from donors or out of pocket. This entire story seems blown out of proportion. |
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What happens to the value of bitcoin if the dollar goes to 0? Will bitcoin also loose value because the dollar is worthless? yes, there would probably be other things to mind like world war, full panic, no internett and so on. But set these things aside. How much would a sack of potatoes cost, and with what could I buy these potatous witth(gold/bitcoin/chickens/etc.)?
Any ideas? and any ideas on how bitcoin could be independant of the dollar, or other fiat?
If the United States as a state continues to exist, then its national currency - the dollar cannot fall to zero, that is, it will absolutely depreciate. The United States has huge material reserves, a huge economy and this will not allow the dollar to depreciate. But if the dollar for some reason falls sharply in price, this should not significantly affect bitcoin. Because bitcoin is not tied to the dollar in any way. It’s just that bitcoin will practically cease to be valued in dollars and will be valued in other successful fiats - euros, pounds, yens and even yuans. USD is an extension of the US's military strength, essentially. Take all of the natural resources the U.S. has and that isn't enough to sustain USD as a powerful country with strong currency. We've seen currencies that are tied to natural resources. When the price of those commodities drop, so does the currency. Venezuela is a perfect example of this, being one of the richest countries in the world until oil's price fell. USD is resistant to such fluctuations for the reason they have the largest military presence in the world. |
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Ron DeSantis and Ted Cruz are the most pro-crypto politicians I've seen in American conservative politics, good for them. Though a lot of this is theatrics because he doesn't have any say in fiscal policy as a governor -- it gives indication as to how DeSantis would govern if he was elected on the federal level which is more than what Biden has to offer Biden is explicitly for more crypto regulation and CBDCs, he's made this clear. https://www.whitehouse.gov/briefing-room/statements-releases/2022/03/09/fact-sheet-president-biden-to-sign-executive-order-on-ensuring-responsible-innovation-in-digital-assets/Explore a U.S. Central Bank Digital Currency (CBDC) by placing urgency on research and development of a potential United States CBDC, should issuance be deemed in the national interest. The Order directs the U.S. Government to assess the technological infrastructure and capacity needs for a potential U.S. CBDC in a manner that protects Americans’ interests. The Order also encourages the Federal Reserve to continue its research, development, and assessment efforts for a U.S. CBDC, including development of a plan for broader U.S. Government action in support of their work. This effort prioritizes U.S. participation in multi-country experimentation, and ensures U.S. leadership internationally to promote CBDC development that is consistent with U.S. priorities and democratic values.
I've been waiting for over a year on their explanation as to how CBDC's protect the interests of the citizens. I suppose by "Americans" they mean elected government officials. |
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I still don't know why the United States likes flexing there power even though they are the world power here.
I think very countries has the choice to join any association or group that they want without any issue. If South Africa would be sanctioned for this because they join BRICS then we all going to know that this is based on sentiment.
The U.S. is in a proxy war with Russia and they don't plan on directly getting involved so sanctions are the next viable solution. Nevermind that sanctions have already weakened the U.S. dollar beyond repair, which would in turn strengthen Russian RUB. They simply see sanctions as a winning strategy and accept the collateral damage. BRICS is a danger to the U.S./NATO, so even if South Africa were not supplying arms to Russia, the U.S. doesn't want additional countries to form close alliances with adversaries. |
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US can simply print more money out of thin air and repay the debt and it as simple as that for them.
But they won't do so because it will burn their economy due to very high inflation and interest hikes.
They will probably do it slowly and gradually decrease their debts. Fiat will not be more sustainable at one point and I hope it comes soon.
We are so in need of alternate financial system. Crypto has so much room to grow and needs to mature before we can finally use it as an alternative.
They've already tried printing more dollars out and it's resulted in inflation. They used the funds to create a social welfare state during COVID and they accepted inflation as a consequence. Modern Monetary Theory states that no country that prints its own money will go bankrupt. And there is no doubt in my mind that they would replicate the COVID strategy again if they needed to pay of debt seeing their adamance to spend money that did not exist during COVID. Debt isn't inherently bad. If the U.S. had the economic growth to sustain the liabilities they were taking on then it would be a different story. Except the debt to GDP ratio has been disproportional since Bill Clinton was in office so you can't count on the U.S. ever paying it off. |
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They are all promised to have retirement, stable and passive income, happy ending, fast car, fast house, fast woman, big fat profit, millionaire, high risk high return. Some of them got into big loan and loss everything, while they are still having to pay their loan. Are they gonna get a refund?
I'm an advocate in people diversifying retirement portfolios with index/mutual funds instead of keeping their entire in a single asset. That being said, it's not going to make you "rich." It's meant to act as a safety net and grow your net worth as cash sitting in a bank account will decay in value. I've seen too many young/naive investors start putting large amount into stocks thinking it's the secret to accruing wealth. Doesn't work that way. The broker tell me stock market would make a come back again, it is just a cycle thing, technical correction, everybody would get their refund when market come back again. Now is the best time to buy low, when they market come back, it is your chance to retire young retire rich.
He's right that the market enters cycles so you shouldn't sell for a loss in a bear market. If you're trying to game the market into retiring young and rich, that's not investing. That's more akin to gambling. Get a new broker. Your broker sounds a bit dodgy with the half truths he's telling. |
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The problem is that dollar has roots deep inside, so deep that some people and countries can't even imagine. The whole world economy depends on the USD, we measure everything in USD because the internet and modern world connects us worldwide and America with English language is a global leader in economy, military and so on. This is something that no one can stop.
While it's true that dollar has an symbiotic relationship with countries and America enormously benefits via it by importing its own inflation and exporting one's economic growth, the problem is that you can't get rid of it.
As I see lately, countries like Russia and China are increasing their gold reserves but I don't get one thing, America, Germany and western countries have the highest gold reserves, so, what's the point? Still no one can escape from these claws.
The U.S. economy has roots all over the world which gives USD its competitive advantage, but it's not worth holding onto a currency that's inflating so quickly even if holding onto USD gives access to the U.S. economy. Recent USD inflation reports suggest there's a downward trend so things seem to be normalizing but IMO the damage is already done. Russia and China increased their gold reserves but, more importantly, they dumped USD from their reserves. It doesn't matter what other countries have in their currency reserves, only that Russia and China can hold onto something more stable. |
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