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House Price Crash Forum

Toto deVeer

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Everything posted by Toto deVeer

  1. These things are marketing gimmicks. Wordpress would be the first to abandon it if the US government told them to. Bitcoin is not money.
  2. WTO has usurped the power of the nation state in a viral way - using treaties to bypass Democratic means. There are a myriad or other organizations cropping up to do the same, throughout the world. Very insidious - one could say murderous in some cases.
  3. Bitcoin is not money. At best it could become a transaction method for System D. Converting it to real use is going to become increasingly difficult if its use becomes more prevalent (ironic situation - its success can potentially kill it). To find out what they are doing at PressFreedomFoundation.org go to 15 minutes+ in the video below:
  4. Maybe collapsed Sterling combined with hundreds of thousands Romanian and Bulgarian immigrants will turn the UK into the economic powerhouse of Europe...
  5. And we all thought the Euro crisis was over
  6. Sterling is caught in a vice. If the BOE does not take a hawkish stance towards interest rates there will be a currency collapse. This event could trigger a very significant rise in rates - creating a greater debt (interest) burden than the UK could sustain. This would be the equivalent of a nuclear meltdown - from an economic perspective. The US on the other hand, has the world's most robust and resilient economy - still. With all its problems the US is still the powerhouse economy. But the main danger is a complete political breakdown - a breakdown of the rule of law. This is a real possibility - for sure. The country is strung as taunt as a piano wire - I've never seen anything like it before. State legislatures are creating laws to arrest federal officials - the President is under assault from multiple directions, and the banks continue looting the country with impunity. Something is going to snap. So I don't agree with the Marketwatch analysis - the risks there are political - which could lead to an economic collapse. Compare this to the UK where the risks are economic - which could lead to political problems.
  7. Yes that can be done - just like bitcoin exchanges can be (and already have been) frozen. But these are 'anonymized' money transfers - not bitcoin - which is not useful until it is converted to dollars or some other form of real money.
  8. Fair enough.. But the dollar can be anonymized electronically. The founder of the EFF has set up -this website - anonymizing dollars contributed to persons or organizations like WikiLeaks, for example. This, in my view, is more of a threat to the nation state that bitcoin.
  9. Don't get me wrong - I would love to see an unencumbered and anonymous form of money that could be used anywhere - but bitcoin isn't it. Perhaps the nearest to this ideal is the Swiss Franc. But even if bitcoin was fully exchangeable for Swiss Francs (and it well may be) the moment you purchased that house, the title to it would ring a bell with the local authorities. Where did that money come from? This again where they can interfere with it. So in my opinion crypto-currencies are not a threat to the nation state. Furthermore, in essence the US dollar is a crypto currency already. 97% of it is just electronic digits - its a state sanctioned crypto-currency. The main threat associated with crypto-currency and the nation state is the risk of its absence - for example, a large scale EMP or other electronic destruction event would render commerce amongst nation states impossible. This could be a threat. For US treasuries, for example, I don't think that there are any certificates. That is why the Chinese cannot dump them. They have to get permission from the US Treasury to transfer ownership. But these electronic records could be destroyed. What would happen to the world monetary system?
  10. That's OK if you want to buy a pizza - but what if you want a car or a house? This is what makes crypto-currencies different from real money.
  11. By crypto-currencies do you mean things like bitcoin? If so, this is a non-starter. At some point you will have to exchange this virtual value for something in the real world. That's where the 'gotcha' is. All a state has to do is regulate the exchanges - and this is a doddle. At present the value of bitcoin is so insignificant that they are only curious, but it (oversight) will come eventually.
  12. "...Maybe that is why H M Revenue & Customs has refused £46 million of gift aid relief on the claim made by the charity..." Uh Oh
  13. I was wondering this too. In fact, it wouldn't surprise me if this 'banking' operation involved banks behind banks - as a huge drug money laundering operation.
  14. Exactly. Banks can offer this service but the fees and interest tend to be extortionate. There is something amiss in the details.
  15. Why such a concentration on liquidity? IMO he will have no choice but to raise interest rates initially to establish credibility on the international stage. Later on he can trash, if he so wishes. The 25% drop in the value of the pound/dollar and drop against the Euro has had little or no benefit on exports. What he needs to do is attract international investment. This is best done with a upward interest rate bias.
  16. This could have been written during the last great globalization movement at the beginning of the 20th century. And we know how that ended. I don't think that much has changed. If national economies implode (and they will at some point soon) then globalization will go with it. Ipso fatso.
  17. For my 2c, it would seem that this would only apply to high income City types. An interesting point is, if something is considered fraudulent, who would be guilty of fraud? The Charity perhaps, but the investors could protest that they were simply assisting with a charitable contribution that they were told was completely legal...and that they thought the money was to be used for a good purpose... Nonetheless it has the smell of a Nigerian email scam.
  18. I can understand why guilts are not subject to capital gains where they are initially purchased at 'market value'. But it is hard to believe that they could be considered tax exempt where they are effectively 'gifted' as illustrated.
  19. Protium in the Cayman Islands. Why do these offshore vehicles always have a sort of James Bond Goldfinger-esque ring to them? It's almost like the CEOs are playing super-secret children's spy games. This sort of vehicle should be like a red flag to a bull as far as the tax investigators are concerned.
  20. Money heaven? Creative accounting strikes again. (Edit: hmmm... on the books wouldn't the loan show as an asset, and the capital infusion too? any accountants on the board?)
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