https://wolfstreet.com/2021/06/12/subprime-auto-loan-delinquencies-which-had-exploded-plunged-after-stimmies-but-these-folks-are-now-on-buyers-strike/
Investors in subprime auto-loan Asset Backed Securities should be genuflecting in front of US taxpayers to thank them for the backdoor bailout.…
investment
The Fed’s Sneaky Plot, by Charles Hugh Smith | STRAIGHT LINE LOGIC
https://straightlinelogic.com/2021/06/11/the-feds-sneaky-plot-by-charles-hugh-smith/
The Fed is quietly taking control of more and more of the financial system and the economy. From Charles Hugh Smith at dailyreckoning.com:
For the past 22 years, every time the stock market whimpered, wheezed or whined, the Federal Reserve rushed to soothe the spoiled crybaby. There are two consequential results of the Fed as savior:
1. The Fed has perfected moral hazard: everyone from the money manager betting billions to the punters gambling their stimmy money is absolutely confident I can’t lose because the Fed will always push the market higher…
2. Organic (i.e. non-manipulated) market forces have been extinguished. There is now only one consequential force, the Fed. All markets are now 100% dependent on the Fed responding to every bleat from every punter who’s recklessly risky bet is about to go bad.
The Fed is now the perfect union of quasi-religious savior and Helicopter Parent: oh dear, our little darling got high and crashed the Porsche? Quick, let’s save our precious market from any consequences!
…
Bitcoin: El Salvador makes cryptocurrency legal tender – BBC News
Comment by tonytran2015: Bitcoin can thus be used to pay tax in El Salvador. But what is the official conversion rate when paying taxes? Who might bail out the Central Bank of El Salvador ?
https://www.bbc.com/news/world-latin-america-57398274
Congress approved President Nayib Bukele’s proposal to embrace the
cryptocurrency, with 62 out of 84 possible votes on Tuesday night.
Bitcoin jumps after El Salvador says it’ll start accepting it as legal tender – CNN
Comment by tonytran2015: Bitcoin can thus be used to pay tax in El Salvador. But what is the official conversion rate when paying taxes? Who might bail out the Central Bank of El Salvador ?
https://edition.cnn.com/2021/06/10/investing/bitcoin-price-el-salvador-intl-hnk/index.html
Cryptoqueen: How this woman scammed the world, then vanished – BBC News
Comment by tonyttan2015: A chilling story of real life tullip mania got taken over by the underworld.
https://www.bbc.com/news/stories-50435014
… According to Bjercke, Dr Ruja never expected OneCoin to grow so big. People involved at the early stages have told him it was never supposed to be a
billion-dollar scam. She tried to close it down, he says, but the dark forces wouldn’t let her.
billion-dollar scam. She tried to close it down, he says, but the dark forces wouldn’t let her.
“Once OneCoin was running above 10 million, 20 million, 30 million, something
happened where she was unable to stop it,” Bjercke says.
happened where she was unable to stop it,” Bjercke says.
“I think she was so scared in the fall of 2017 that she decided to skip.”
…the US Department of Justice claims to have evidence of a link between
Dr Ruja’s brother and “significant players in Eastern European organised crime”.
…
Countries That May Ban Crypto in 2021
https://marketrealist.com/p/countries-that-may-ban-crypto/
…
few countries announce their plans to ban crypto transactions altogether. India was the first…, Turkey following suit…, Chinese financial regulators
have doubled down… And there are other countries…
Founder of Turkish cryptocurrency exchange Thodex flees with reported $US2 billion in investor assets – ABC News
- Local media reports say Mr Ozer had flown either to Albania or Thailand
- Reports say the Thodex website and the entire exchange had shut down while holding at least $US2 billion from 391,000 investors
HaberTurk and other media said Thodex shut down after running a promotional
campaign that sold Dogecoins at a big rebate — but did not allow
investors to sell.
…
Bank protections against cryptocurrency scams in Australia ‘ a very shaky area’ – ABC News
https://www.abc.net.au/news/2021-04-22/cryptocurrency-scams-in-australia-warning-banks-/100087800
…Mr North warns a number of factors such as the escalating value of
bitcoin and the increasing tendency to invest via online schemes
operating offshore, means the risk is higher than ever, but people are
too often still willing to take that risk…
Bitcoin Slides After Trump Says “It’s A Scam… Wants Dollar As World Currency”
Comment by tonytran2015:Bitcoins, tulips, sparkling diamonds, fiat moneys and gold.
https://www.nationandstate.com/2021/06/07/bitcoin-slides-after-trump-says-its-a-scam-wants-dollar-as-world-currency/
Update (1045ET): Bitcoin prices have reversed the earlier gains after an apparently attention-seeking former President Trump opined on the cryptocurrencies during an interview on Fox Business this morning… “Bitcoin seems like a scam… I don’t like it because it’s another currency competing…
Tesla Facing “Further Fallout” In China As Local Governments Mull “Security Risks” Of Vehicles
The rocky road between Tesla and the Chinese Communist Party looks like it is continuing. The automaker is facing “further fallout” in China as some local governments are reviewing Tesla vehicle ownership among their staff, citing the vehicles posing potential security…
