Who benefits from a digital currency?
If I have a $100 banknote in my pocket and go to a restaurant and pay for dinner with it. The restaurant owner then uses the bill to pay for the grocery bill. The grocery store owner then uses the bill to pay the farmer. The farmer will then use the bill for seed stock... on and on it goes.
After an unlimited number of payments, it will still remain a $100, which has fulfilled its purpose to everyone who used it for payment and the bank has not make a cent on the transactions.
But if I go to a restaurant and pay digitally - then there are bank fees. The bank fees for my payment transaction charged to the seller are 3%, so around $3. for each $100 transaction. This $3 fee is for each further payment transaction.
Therefore, after 30 transactions, what will remain of the initial $100 will be only $10. The remaining $90 became the property of the bank - thanks to all digital transactions and fees.
Support our small businesses - use cash.
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Only yesterday we learned that 41 refugees died at sea — enough time for the news cycle to forget it ever happened.
But mothers will be mourning the loss of their children long after the headlines have moved on.
What kind of media normalises the mass drowning of human beings?
#BRICS and #GOLD - My thoughts - Gadaffi
+ The current BRICS initiative for a new gold-backed currency could put in danger our fiat currencies like the USD, EUR, YEN and GBP. It could create massive inflation, a debt explosion, and a massive wealth transfer from West to East.
+ After Nixon took the US off the gold standard in 1971, Kissinger established the petrodollar with the Saudis and OPEC. The USD was no longer backed by Gold, but by Oil.
+ Anyone who has tried in the past to jeopardize this, has had a really hard time. A first example is Muammar Gaddafi from Libya. A second example is Saddam Hussein from Iraq. But there are many others. I will explain them both here in 2 tweets.
+ Muammar Gaddafi was a Libyan politician and was into Pan Africanism.
+ He was the leader of the African Union at the time of his death in 2011.
+ He had proposed a new Gold African Dinar to be used as a new currency for African oil trading.
+ A new Dinar that would be backed by Gold.
+ He advocated stopping the use of the USD for oil trading within Africa. By doing so he challenged the USD and EUR on the world stage.
+ As the Libyan leader, he nationalized the Libyan oil industry, deported the Italian population in 1970, and ejected all the Western military bases.
+ He established many major economic and oil deals with China, Russia and India which were worth billions of dollars.
+ From 1970 he used the new oil funds to implement social programs, emphasizing house-building, healthcare and education projects.
+ He offered free electricity to all citizens, zero percent interest rates for loans, declared home-owning to be a human right, offered all newlyweds $50K to buy a first apartment, free education for all, free medical treatment, free farmland and farmhouse and farm-equipment for those who wanted to farm, free foreign education abroad with a $2300 / month allowance, 50% of a new car offered by the state, almost free petrol for all, no external state debt, unemployment benefits as high as the wanted job, a percentage of oil sales going to each citizen bank account every month,
+ In 1970, a law was introduced affirming equality of the sexes and insisting on wage parity.
+ From 1977 onward, per capita income in the country rose to more than US$11,000, the fifth-highest in Africa, while the Human Development Index became the highest in Africa and greater than that of Saudi Arabia. This was achieved without borrowing any foreign loans, keeping Libya debt-free. The literacy rate went from 25% to 87% over this period.
+ The Great Manmade River was built to allow free access to fresh water across large parts of the country.
+ Libya became the richest and most literate country of Africa during his reign.
+ In 2011 there was however the Arab Spring. It created a lot of chaos, and political puppets came to the scene. During the civil war that followed, armed combatants rose up against Gaddafi and overthrew his government.
+ NATO supported the rebels, and without the NATO strikes it is unlikely that the rebels would have conquered Libya. General Gaddafi was finally killed by the rebels in the streets.
+ After his death in 2011, Libya had 3 major civil wars, knew massive inflation, human trafficking, cashless banks, and no stable access to electricity. Healthcare and education degraded a lot. The Golden Dinar was no more.
+ Some will say Gaddafi was loved, others will say he was a tyrant. He committed crimes on the one hand, and did a lot of good things for the country on the other hand. I will leave you the judge of that.
+ The killing of Gaddafi meant the end of the Golden Dinar, and of his Pan-African dream.
+ The USD was no longer menaced, the new gold-backed currency for trading African oil was never implemented, and the oil deals with Russia, China and India were stopped abruptly.
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Please retweet if you like what you read. Saddam Hussein's story will be published in the next tweet.
Member of the Bundestag Sevim Dagdelen:
“After 78 years, it’s time for American soldiers to return home, all other allies have long since left Germany!
US foreign policy is marked by violations of international law and support for coups. They don't need allies, they need vassals!"
The UN Security Council rejected a proposal for an international independent investigation of the Nord Stream pipeline attack.
The resolution received support from Russia, China, and Brazil, while the US, UK, France, and other nations chose to abstain.
This week, Passover, Ramadan and Easter overlap, which only happens three times each century.
This rare and special occasion is a time for all communities to come together and make a common call for compassion, inclusion and peace.
“I’m not familiar with that particular case”.
Suella Braverman says she didn’t know about 12 refugees being killed in Rwanda in 2018 after protesting about their conditions.
Moments earlier she insisted “Rwanda is safe for refugees”.
“Rwanda is a safe country” she repeats.