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USA's economy is at the mercy of crony capitalismwww.ft.com/content/85fd3200-55b1-4e58-9e6f-613e97a1e36a
787 sats \ 16 comments \ @Coinsreporter 8 Dec econ
Non Pay-walled: https://archive.is/BCr4J
The Saudi Crown Prince Mohammed bin Salman, for example, is engaging in sensitive national security conversations with President Donald Trump, even as the Trump family real estate business is in talks with the Saudis about a big construction project. Trump’s artificial intelligence and crypto tsar, David Sacks, has hundreds of tech investments poised to benefit from policies Trump is pushing. A big question is when, and how, all the ethical concerns get priced into US assets?
Never. And we don't need US assets.
A realistic ask maybe but what you get with a businessman turned your ruler?
Consider one complicated example involving the stablecoin of the Trump family crypto venture World Liberty Financial, which was used by Abu Dhabi’s MGX in a $2bn transaction linked to Binance. That company was co-founded by Changpeng Zhao, who received a presidential pardon in late October, after previously pleading guilty to a criminal charge relating to lax money laundering controls.
So, FT is directly alleging that the investment in MGX has to do with CZ pardon! But who cares and dares to listen in MAGAmerica??
Another example is the twins who have forever been so naive at business.
All in all this is the best time for shit businesses in the US and whoever doesn't produce some shit is getting laxatives now produced by White House pharmacy.
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118 sats \ 8 replies \ @xz 8 Dec
I used to read the FT, but I stopped reading when I realized there's no value anymore, when the entirity of financial markets began to operate on insider trading. I suppose there's always still the use in observing and learning how narratives are spun.
25 years ago, you could still read it and glean some insights, follow the money, read it again later and see that you could have made money from reading it. Now, it just seems to be either columns laden with political persuassion (like this one) or a kind of financial almanac (not much use unless you are Marty Mcfly.)
You can palpably sense the FT's HR policy selecting only views supportive to trade dynamics that benefit their own board. Certainly never overstepping the boundaries of questioning the status-quo's narrative on everything that eminates from its pro-global ideological agenda. Would anyone actually believe that their is no underlying policy to cast aspertions that challenge the status-quo or favor the institutions that the publication represents?
Like I read someone else write today about a completely different politician, in a completely different geographic region. "I'm not a particular fan of x politician, but if you can't see a smear campaign for what it is, I can't help you."
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47 sats \ 7 replies \ @Solomonsatoshi 8 Dec
You just tried to shoot the messenger.
You did not refute the message.
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0 sats \ 6 replies \ @xz 8 Dec
I refuted the message and I shot the messenger.
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0 sats \ 5 replies \ @Solomonsatoshi 8 Dec
So how and where did you credibly refute the message?
I missed that...
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0 sats \ 4 replies \ @xz 8 Dec
"I'm not a particular fan of x politician, but if you can't see a smear campaign for what it is, I can't help you."
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0 sats \ 3 replies \ @Solomonsatoshi 8 Dec
Yes but if you cannot refute the facts and issues raised by the alleged smear campaign you have not refuted the message.
All you have shown is the messenger has motives other than altruism- but that does not refute the message.
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0 sats \ 2 replies \ @xz 8 Dec
No. A smear compaign does not use facts. It is based on rhetoric. You can't refute rhetoric with facts. Because there are no facts to refute.
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0 sats \ 1 reply \ @Solomonsatoshi 8 Dec
Now you are denying the facts. The facts are very clearly stated and are not rhetoric. Sad to see the state of thinking in the US come to this.
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11 sats \ 4 replies \ @CliffBadger 8 Dec
So, FT is directly alleging that the investment in MGX has to do with CZ pardon! But who cares and dares to listen in MAGAmerica??
If the blue team had won Ross would still be jail. Trump kept Bitcoin legal, so no, I don't care that he pardoned CZ. No one in our industry has ever committed a crime.
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0 sats \ 3 replies \ @Solomonsatoshi 8 Dec
Here we have outright unabashed apologist for crony capitalism.
This is the state of the USA today.
Tragic.
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0 sats \ 2 replies \ @CliffBadger 8 Dec
Your definition of crony capitalism is legalizing Bitcoin by majority vote?
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0 sats \ 1 reply \ @Solomonsatoshi 8 Dec
Who did that? Bitcoin was never illegal in USA...was it? Trump has not however removed the CGT on use of Bitcoin as a MoE. Trump has issued and profited from his own shitcoin and multiple deals involving blatant conflict of interest such as those mentioned in the article this post links to. Lock him up.
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10 sats \ 0 replies \ @anon 9 Dec
Thank you for speaking truth to power - Mr Trump is interested in himself only not in making Bitcoin sound money for many many people. His policies are imo incoherent.
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21 sats \ 1 reply \ @Solomonsatoshi 8 Dec
America cannot make much anymore that is competitive with China. It can only try to exploit its legacy hegemony over international institutions and protocols and even that will not be viable for much longer. There are few other options however and with a population who are mostly in denial of the true nature of US decline Trump is what you get to manage the decline. Even the military option is no longer viable- USA has had its supply of rare earths for military hardware cut off by China already. USA cannot fight any war of any scale for at least a decade. Time to stash the loot in a complex labyrinth of crypto and salvage what you can of the situation.
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0 sats \ 0 replies \ @Coinsreporter OP 8 Dec
💯
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