Yep this is the article I read

link

Wasn’t he campaigning on Hindutva-lite? Really reminded me of Biden/ Harris’ diet fascism.

1. Law is capitalist law, they’re not illegal migrants, they’re undocumented.

2. Your tax contribution isn’t the same as your labor contribution. If you are a middle level manager at a ‘bullshit’ job, you are likely paying more in taxes than an undocumented migrant, but you don’t contribute much to the society through your labor, in many cases the contribution is negative (if you are in finance or military)

3. There is no reason to believe if undocumented migrants were deported, the capitalists will decide to hire workers at the legal minimum wage, it is likely that such jobs will be replaced by downsizing , prison labor or machines, not by hiring documented workers at the minimum wage because that may not be profitable in money terms.

4. U.S. has a trillion Dollar military budget; remittances creates liquidity for Dollars abroad. Also, why is it that labor is so cheap in their home countries that it makes working in the U.S. even at less than minimum wage so attractive. Migrants aren’t coming because they love America, it’s because they get paid more.

5. All the third world countries have vast underutilized labor. The unemployed in these countries face no competition from foreign undocumented workers. Unemployment isn’t a first world problem, it is much worse in third world, it is THE problem.

Why is private sector doing nuclear energy? It’ll take large amounts of subsidies anyway since the private sector doesn’t do anything if they don’t forsee profits. Might as well have it in the public sector which doesn’t have to worry about monetary profits.

I don’t think much is happening in UK with regards to anything productive like wind or nuclear so long as the Government doesn’t do stuff. Starmer is servile to finance capital interests. He is more interested in seeing the line go up.

I use Binance, you can use your card there, fees are like 4%. I prefer USDT because there is volatility/exchange rate risk with non-stablecoins but you may not have a choice depending on the seller. If you want to avoid the 4% fee do a SEPA transfer.

I use Trust Wallet. Is it perfectly safe? No, but for payments its good enough.

they had Bill Clinton in Michigan calling West Bank ‘Judea and Samaria’

If French isn’t worth learning neither is German tbh. German economy isn’t that much larger than French, and in slow decline due to austerity.

Spanish and Portuguese are spoken outside their “home” countries and Russian is popular throughout the former Soviet Union.

Bitcoin is not different from the USD fiscal policy space wise. You use USD (which you obtain from trade, remitances, loans and capital inflows) to buy Bitcoin or use the same USD to buy ASICs to mine Bitcoin with. In the end you hope to sell it to someone else to get more USD than you started with.

Even if it’s not for conversion then would the population like to use a system where there is no physical cash form of bitcoin (El Salvador has large informal economy) fully dependent on internet, electricity and a smartphone. Would the Government make budget denominated in bitcoin? How will all the pricing be done? Why should El Salvador go through all these complications instead of adopting its own currency where it’ll have more fiscal space?

Bitcoin was never widely used in El Salvador outside small transfer payments which would’ve been converted to Dollars pretty quick anyways.

Having your own currency gives you power to manipulate exchange rate and employ domestic resources instead of having to borrow continously from the IMF.

Not saying that a sovereign currency alone is enough. Countries may not be able to enforce taxes enough or try pegging rates to the Dollar to prevent pass-through inflation and balance of payments issues. But it is a necessity.

All payments to the US Government, fees, fines and taxes.

Yes and every time they create dollars there is a corresponding liability at the fed.

I suggest this book

Yep. The bump has always been large but I meant the arrangement itself.

Xiaomi 15 Ultra

Xiaomi 13 Ultra

New battery tech with that 6000mah.

I agree with the comments though, camera does look ugly.

I think that’s why El Salvador is dropping it. They never really forced people to use Bitcoin, US Dollar was also the legal tender and unlike Bitcoin, also the money of account.

But really though, can you call for IMF to stop lending to countries which buy Bitcoin using state funds when the issuer of Dollars, the U.S. has a President who has run multiple crypto/NFT scams and wants to use Government money to pump up crypto prices?

Not really what I said. I said gold and all the commodities are denominated in Dollars.

You hold gold because you hope to sell it at a future date for more dollars. You hope China doesn’t find more gold or some country decides to release gold locked in vaults. In the end you want more dollars than you started with.

Same with bitcoin which is going up in price because of a flood of Dollars from ETFs and due to Trump’s potential policies. You want bitcoin to go up in price so you can sell it for more dollars.

Another thing to keep in mind is that Bitcoin has characteristics of a real asset, not a financial asset.

Dollars, you can give to the US Government for payment of taxes etc. There is a corrosponding liability at the Fed. That is not the case with “real” assets like Bitcoin, there is no corrosponding liability.

They make no money from the investment you mentioned unless they sell for Dollars. Your stock portfolio gets you no money in form of capital gains unless you liquidate it for Dollars. Same with gold.

Is El Salvador budget denominated in gold or bitcoin? No, it’s denominated in Dollars.

El Salvador should first stop using a foreign currency, the dollar. Then worry about trying to attract capital inflows.

Sovereigns aren’t the same as individuals. For sovereign, at the macro level, spending drives consumption and creates employment of real resources.

If El Salvador had its own currency, they could tax and spend that instead. But no, they use US Dollars.

Ok, can they sell it then? What’s the use of Bitcoin? Why are you valuing it in Dollars? Countries accumulate Dollars and other first world currencies to be able to import more (and in case of El Salvador, spend more domestically). Bitcoin is sitting there doing nothing.

Same applies to massive foreign exchange reserves like in the case of China. But still, atleast forex reserves can be quickly used to stabilize the exchange rates.

Also keep in mind even if they sell it and assuming there is enough liquidity, $300m one time isn’t a lot of money even for a country like El Salvador.

If he were smart, he would bring back the Colon and stop using US Dollars. But noo he had to do stupid shit like Bitcoin.

So the final criticism, “Chinese censorship” argument can be thrown out of the window.

In other related news, experts are cited by CNBC that DeepSeek’s privacy policy “isn’t worth the paper it is written on."

Ok, run it yourself.

DeepSeek did everything right, it will not be possible to ban when anyone can run distilled versions on their own mid-high end consumer hardware and even full version.

The only way to access OpenAI o1 is through their API.

CDU is a Nazi party

“Many in Germany are turning a blind eye … China is no longer a partner, but a systemic rival that is attacking us,” Mr Kiesewetter, a former colonel in the Bundeswehr, to

Ah, Wehrmacht Colonel

apparent plans to invade Taiwan.

still waiting

Beijing’s tacit support for Russia’s invasion of Ukraine

And Washington blew up the pipeline as a ‘thank you’ for supporting Ukraine.