Crypto Dud

Crypto Dud #HBAR #XRP

[Crypto Dud @crypto_dud]

@DumaGqubule @pete_carswell Because of inflation targeting. Interest rates are killing jobs to protect the rand. Plus there should be a tax on corporates who stockpile cash

[Sense Receptor @SenseReceptor]

Former BlackRock fund manager Ed Dowd on the SpaceX IPO:

"people gotta understand... [SpaceX] raised $75 billion... [and only] floated 5% of the stock... it's a very small float"

"[But its valuation], that's a different story"

"$1.7 trillion did not go to SpaceX. [It is] $75 billion. So people need to understand that"

"then when Anthropic and OpenAI, if they ever make it to IPO, they're going to raise about $100 billion each. So the total raised actual real money is about $300 billion between these three IPOs"

"Their valuations, that's a different story. And those probably won't hold and they'll probably, you know, go down 80%. So anybody buying these stocks at these prices is probably going to lose a lot of money if they hold on to them"

@ShannonJoyRadio @DowdEdward

[Crypto Dud @crypto_dud]

@Kathleen_Tyson_ Just like they killed the USD

[Finance & economics @Ndala_Momane]

Whenever our zombies decide, they can just include the PIC investment funds as government reserves like Singapore.

SA net debt will be almost zero.

Operation Vulindlela' case, a wholesale of our country by BEE hyenas, rest on this lie that SA has a debt problem.

[Gen Jean-Jacques Dessalines @MxolisiBob]

This country is ran by useless adminstrators, spreadsheet metrics are what they use to govern the country.

There must be a moratorium on number of people who enter "economic" and "social" science, this country needs people who are going to work on building staff not bureaucratic clowns

[Marc Anderson @PatriotMarc]

South Africa must do away with foreign-funded NGOs.

[Crypto Dud @crypto_dud]

@AshorSarupen @tarathinks How about your supporters? You condemn them?

[Sizwe SikaMusi @SizweLo]

In the early 1990s, as South Africa was transitioning to democracy, the country’s corporate elite sat down with the incoming African National Congress and presented them with a choice.

They explained that if the new government didn’t allow them to take the massive profits they had accumulated during the Apartheid era and move them out of the country, that capital would fight to escape anyway, and new foreign investors would treat South Africa like a parish state.

​But, the capitalists promised, if the ANC just lifted exchange controls and allowed money to flow freely, everyone would feel so safe that they wouldn’t want to leave anyway. In fact, they argued, foreign capital would practically beat down the door to get in.

​The ANC, showing the kind of financial naivety usually reserved for people under the age of 5, fell for this. They lifted exchange controls under the impression that creating a “stable, business-friendly environment” would trigger a tidal wave of foreign direct investment to offset any minor cash outflows.

​As it turned out, the doors to the global financial system worked beautifully, but only in one direction. South Africa’s largest conglomerates immediately walked through the exit the ANC had so politely opened for them, dual-listing on the London Stock Exchange and packing up their corporate headquarters to leave Johannesburg behind.

​Meanwhile, the foreign capital that *did* arrive wasn’t exactly the factory-building, job-creating kind of investment the ANC had envisioned. Instead, it was “portfolio capital”, which is a polite term for speculative hot money.

Foreign fund managers were simply buying up South African stocks and bonds because the local central bank was offering eye-wateringly high interest rates. And as anyone who has ever managed a hedge fund or watched Industry, knows, hot money can, and will, vanish at the click of a mouse the second things look slightly shaky.

​By prioritising the demands of high finance over radical domestic economic restructuring, the ANC institutionalised a system of permanent economic vulnerability. They allowed the nation’s core wealth to migrate overseas, legally hollowing out the domestic tax base.

So, whenever you hear wealthy commentators today complaining about how a tiny handful of “taxpayers” are carrying the weight of millions on their backs, it’s worth remembering that this is exactly the macroeconomic setup their grandfathers aggressively lobbied for in the 1990s.

​This was when the ANC believed it could achieve economic stability by chasing the illusion of a “business-friendly” economy. They were wrong. Instead, the country was left with structural unemployment and an economy deeply exposed to global shocks, proving that these early compromises were always going to cost South Africa its economic sovereignty.

​Fast-forward to today, and the government finds itself in a trap. If they attempt to re-impose strict exchange controls or heavily tax corporate profits to keep wealth within the borders, the corporations and wealthy individuals will simply move their money out of the country using any number of creative accounting loopholes, legal or otherwise.

​Furthermore, because global investors view South Africa less like an industrial economy and more like a high-yield emerging market casino, the Reserve Bank has to keep interest rates painfully high just to keep them interested. If the government tries to cut rates to help local businesses borrow and grow, that speculative foreign capital will instantly flee to whatever country is offering a slightly better yield that week.

​In the end, South Africa is stuck in a classic macroeconomic catch-22: it cannot build a self-sustaining, industrialised economy because the capital it relies on would immediately leave, but it cannot force that capital to stay because doing so would trigger a currency collapse and devastate whatever’s left of the economy.

[Tenzing Lamsang @TenzingLamsang]

This gets worse.

So not only did the US Navy fire two missiles and kill three Indian sailors they refused to rescue the 24 Indian crew despite saying they are on fire, the vessel is sinking and that they are an all Indian crew.

The Omanis rescued them.

[Wiesie de Kock @wiesiede]

‘What empire needs, in its late and rotting stage, is a man with no interior life, someone who will sign anything, threaten anyone, perform any cruelty, because performance is all there ever was. The emptiness is not a bug.‘

[Crypto Dud @crypto_dud]

@bocasho_braaf Its governments job to train the slaves

[Bocasho Braaf @bocasho_braaf]

The same people talking about a "skills mismatch" are the same ones refusing to build more TVETs and universities.

[Sizwe SikaMusi @SizweLo]

The French parliament has voted to nationalise steelmaker ArceloMittal to “save jobs” and assert “sovereignty”

They may be capitalists, but deep down they know what works

Then you have South Africans still sipping on “private sector” propaganda because “Blacks can’t govern”

[Crypto Dud @crypto_dud]

@kajakallas @araghchi The world's dumbest c@nt

[Crypto Dud @crypto_dud]

@guillum @GovernmentZA Now cry about Baldwin properties

[Mick Wallace @wallacemick]

Would this be the same IAEA that has no problem with the Israeli Terrorist Regime having Nuclear Weapons while refusing to keep any of the rules..? The IAEA is now a puppet of Western Imperialism...

[Vivek Sen @Vivek4real_]

ELON MUSK:

“WE’RE GOING TO HAVE UNIVERSAL HIGH INCOME.

WE’LL BASICALLY JUST ISSUE MONEY TO PEOPLE.

WE’RE GOING TO HAVE DEFLATION.

AI AND ROBOTS ARE GOING TO MAKE SO MUCH STUFF THAT THEY’LL RUN OUT OF THINGS FOR HUMANS TO DO.

MONEY WILL STOP BEING RELEVANT AT SOME POINT IN THE FUTURE.”

DIAMANDIS:

“SO JUST AS YOU’RE BECOMING A MULTI-TRILLIONAIRE, MONEY STARTS TO HAVE LESS VALUE?”

ELON:

“YEAH, PRETTY MUCH.”

[Finance & economics @Ndala_Momane]

SAns are not serious people nje.

The PIC can literally investment in anything unimportant to society but we ask for Europe pension funds to invest in our electricity, water, rail, ports.....

We deserve Cyril and his zombies.

[Aaron Rupar @atrupar]

Palantir CEO Alex Karp: You look at American performance in Iran, which was been thanks to the bravery of Americans and I would like to believe our tech, very few losses on our side, very precise, very controlled."

(The US blew up an elementary school .. )

[Persian Girl @Persianserene1]

Last night, the most powerful army in the world bombed water reservoirs in Sirik, Iran, leaving people without drinking water

I can’t remember even ISIS doing something like that

Americans, are you proud of your terrorist regime and army?

[Megan S. @SimplyMegszcpt]

The government’s pension fund invested in 15 companies which lost 100% of their money. https://t.co/58YPYHuK85