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Currency debasement turned a generation into gamblers because saving doesn't build wealth anymore. "The existing system doesn't work for them, that they're not able to build wealth in it, they can't save in dollars. So it's kind of like win big or die trying." - Gary Brode

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We can't fall into right-wing populism’s lie that the most vulnerable in society are to blame for wealth inequality in our countries. We need to build movements that tell the truth: the story of wealth inequality is not a cultural one, but a class one.

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JUST IN: 🇺🇸 Donald Trump on the government selling #Bitcoin: “It's something they shouldn't be doing because they should be trying to build it.” “It's a very modern currency”

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Don’t Chase Money, Build Wealth "Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth." Most people try to become wealthy by chasing dollars. Create wealth by building systems that work for you.

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Not everyone fights for the country because they want public office or tenders. Some of us just want a fair system and affordable capital to legitimately build our own wealth and employ more people. The message this morning is this, you don't have to steal to make it big.

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J-Cal: Build something of value, don't go $200K into debt for college! "Everybody talking about how poor people as a group can never, ever strive and never build anything, the truth is it's the easiest it's ever been to build a company, to build a project, and to be independent as a creator of a product or service in the world." "It's the easiest it's ever been. It requires the least capital and the least amount of time." "So we're selling a narrative to people that they're helpless, when in fact they are super, super empowered." "The only thing you can't do is put yourself into $200,000 in debt, because you'll never get out of it."

J-Cal: Build something of value, don't go $200K into debt for college! "Everybody talking about how poor people as a group can never, ever strive and never build anything, the truth is it's the easiest it's ever been to build a company, to build a project, and to be independent as a creator of a product or service in the world." "It's the easiest it's ever been. It requires the least capital and the least amount of time." "So we're selling a narrative to people that they're helpless, when in fact they are super, super empowered." "The only thing you can't do is put yourself into $200,000 in debt, because you'll never get out of it."

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"In 35 years of institutional finance, I've had one original idea. And I kind of stole it from Joe Stiglitz." Tom Costello (Tom Coste) explains: "Right now there are 8 or 10 million super smart engineering students thinking they're going to write a program trading system, connect it to a Robin Hood API, and poof — a Lambo appears in their driveway." "This is not real life." "They build mean reversion. It doesn't work. Every mean reversion strategy that works has been running for a decade. Or 40 years." "They build SP500 arbitrage. Everybody's doing that too, and they're co-located. They're getting the trade and you're not." "Momentum. PCA. Factor deconstruction. None of it works." "They assume that because they have a new idea for them, it's a new idea for everyone. That's absolutely not the case." "I've only ever done three things. I've bought, I've sold, and I've waited. That's all anybody else is doing either."

"In 35 years of institutional finance, I've had one original idea. And I kind of stole it from Joe Stiglitz." Tom Costello (Tom Coste) explains: "Right now there are 8 or 10 million super smart engineering students thinking they're going to write a program trading system, connect it to a Robin Hood API, and poof — a Lambo appears in their driveway." "This is not real life." "They build mean reversion. It doesn't work. Every mean reversion strategy that works has been running for a decade. Or 40 years." "They build SP500 arbitrage. Everybody's doing that too, and they're co-located. They're getting the trade and you're not." "Momentum. PCA. Factor deconstruction. None of it works." "They assume that because they have a new idea for them, it's a new idea for everyone. That's absolutely not the case." "I've only ever done three things. I've bought, I've sold, and I've waited. That's all anybody else is doing either."

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Kate Harrision "Just because it's a rosier picture on the deficit doesn't mean that it's a rosy picture." "...So I think if the big marquee announcement for tomorrow is the sovereign wealth fund, which looks a lot like previous government funds, Canadians are going to be asking what is in this economic update for them." Kate Harrison

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"The DTCC model, with all the respect for them trying to innovate, is just about preserving the existing market structure" Securitize founder Carlos on why the DTCC tokenization pilot misses the point "We were actually not there. If you look at who was not there, Superstate, us, Centrifuge, all the transfer agents. The DTCC model, with all respect for them trying to innovate, is just about preserving the existing market structure" "When WhatsApp came, instead of trying to build a WhatsApp which is open, anybody can download it, anybody can communicate with anybody, it's free, they were trying to improve SMS because SMS is where the telcos make money. It kind of feels a little bit like what the DTCC is doing. Same market structure, same market participants, same T plus 1 settlement" "It doesn't seem you will be able to take those tokenized entitlements, put them on a self-custodial wallet, take them to a DeFi protocol, and borrow against them. They're not going to take advantage of the power of public blockchains. It's more operational improvements into the existing market structure, which is less interesting in my opinion"

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Derrick Milano about working with BTS 🙏🧎‍♀️ ‘The biggest part for me working with them is just really like, they really love creating music. It doesn't seem like they're in it for the money. It doesn't seem like they're in it for clout. It seems like they really genuinely and passionately love music. I think we need to see that more because it's a gift from God that we have and we can't take it for granted because at any point in time it can get taken away. So when you do have the opportunity and the luxury and you do have the pleasure to work with amazing people and you're able to put this stuff out, take advantage of it, and I think THEY take advantage of it to the fullest extent, from their music videos to the performance to the recording to the engineering to who they collaborate with. They use it to the fullest extent, and I think that's why it's so receptive and it's performing the way it is, because they go above and beyond for their work and their process and their product.’

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Hakeem Jeffries to Virginia Supreme Court: Uphold Spanbergers map 'or else.' It's like he's trying to scare them into bending the knee. They're relying on the leftwing judiciary to hand them a victory. Nothing more. If that doesn't happen, they're FCKED.

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THAT COULD HAPPEN IF MELANATED IMMIGRANTS STOPPED SENDING MONEY OUT OF THE COMMUNITY TO OTHER COUNTRIES/ REMITTANCE ?‼️🤔🤷🏾‍♂️ Black Americans need to keep the dollars in our communities so we can help our kids build wealth and build up our society so we don’t need nobody else because ain’t nobody coming to save us but ourselves‼️🫵🏿

THAT COULD HAPPEN IF MELANATED IMMIGRANTS STOPPED SENDING MONEY OUT OF THE COMMUNITY TO OTHER COUNTRIES/ REMITTANCE ?‼️🤔🤷🏾‍♂️ Black Americans need to keep the dollars in our communities so we can help our kids build wealth and build up our society so we don’t need nobody else because ain’t nobody coming to save us but ourselves‼️🫵🏿

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Camilla Tominey humiliated on #BBCQT Gary Stevenson explains how we have given away national assets to rich people, so we should tax rich people Camilla Tominey dismisses the call to tax rich people by saying everyone pays taxes Gary Stevenson explains to tax the rich on their wealth Camilla Tominey says taxing the rich doesn't work, then cites European efforts to do so, she cites Norway But Norway haven't scrapped their wealth tax - In 2021 Norway raised the wealth tax from 0.85% to 1.0%, and to 1.1% for the richest. Their wealth tax brings in 34.5 billion kroner (about £2 billion) Gary Stevenson answers citing the second home stamp duty tax brought in by the Conservatives which has a loophole exempting those who buy 7 homes or more at once citing Jeremy Hunt Fiona Bruce says she doesn't know if he did or didn't buy 7 homes In 2018 Jeremy Hunt bought 7 flats in Southampton, doing go he made use of the loophole and saved over £100,000 in stamp duty tax. Not only did he do this, but Hunt didn't initially declare the purchase. This was a big story, surprised Bruce didn't know about it Gary Stevenson then explains how these loopholes mean rich people avoid paying tax, and its everyday people who end up paying more Camilla Tominey now humiliated over the idea of a wealth tax, then shifts her position wondering if wealth taxes will go to the poorest and not train drivers who are better paid She's trying to compare millionaires with non millionaires to suggest that we shouldn't tax more millionaires This is like saying, can you guarantee that leaving the EU will drop immigration. Well it could have, but it didn't because the people who convinced others to Brexit, like Boris Johnson, increased legal immigration to this country She also knows that tax today is specifically allocated to specific causes, so she's trying to create a reason not to tax the rich In reality, the way any tax is allocated to spending is down to any specific government policy, so it isn't whether we do or dont have a wealth, it's whether government choses a policy that allocates the additional income that is earned But also, and this is the crucial part, she started saying that wealth taxes don't work, and then she ends saying that you can't guarantee that they will go to those who need it the most - these are two different positions, and the second one nullifies the first as its an admission that wealth taxes could work but she dismisses them because they may not go to those most in need If a wealth tax, helps society in any way, it has worked e.g. fixing potholes that benefits everyone, including the poorest The extent to which people go to to dismiss wealth taxes on the rich is astonishing, tragic, and it is only our society that loses out by not doing so

Camilla Tominey humiliated on #BBCQT Gary Stevenson explains how we have given away national assets to rich people, so we should tax rich people Camilla Tominey dismisses the call to tax rich people by saying everyone pays taxes Gary Stevenson explains to tax the rich on their wealth Camilla Tominey says taxing the rich doesn't work, then cites European efforts to do so, she cites Norway But Norway haven't scrapped their wealth tax - In 2021 Norway raised the wealth tax from 0.85% to 1.0%, and to 1.1% for the richest. Their wealth tax brings in 34.5 billion kroner (about £2 billion) Gary Stevenson answers citing the second home stamp duty tax brought in by the Conservatives which has a loophole exempting those who buy 7 homes or more at once citing Jeremy Hunt Fiona Bruce says she doesn't know if he did or didn't buy 7 homes In 2018 Jeremy Hunt bought 7 flats in Southampton, doing go he made use of the loophole and saved over £100,000 in stamp duty tax. Not only did he do this, but Hunt didn't initially declare the purchase. This was a big story, surprised Bruce didn't know about it Gary Stevenson then explains how these loopholes mean rich people avoid paying tax, and its everyday people who end up paying more Camilla Tominey now humiliated over the idea of a wealth tax, then shifts her position wondering if wealth taxes will go to the poorest and not train drivers who are better paid She's trying to compare millionaires with non millionaires to suggest that we shouldn't tax more millionaires This is like saying, can you guarantee that leaving the EU will drop immigration. Well it could have, but it didn't because the people who convinced others to Brexit, like Boris Johnson, increased legal immigration to this country She also knows that tax today is specifically allocated to specific causes, so she's trying to create a reason not to tax the rich In reality, the way any tax is allocated to spending is down to any specific government policy, so it isn't whether we do or dont have a wealth, it's whether government choses a policy that allocates the additional income that is earned But also, and this is the crucial part, she started saying that wealth taxes don't work, and then she ends saying that you can't guarantee that they will go to those who need it the most - these are two different positions, and the second one nullifies the first as its an admission that wealth taxes could work but she dismisses them because they may not go to those most in need If a wealth tax, helps society in any way, it has worked e.g. fixing potholes that benefits everyone, including the poorest The extent to which people go to to dismiss wealth taxes on the rich is astonishing, tragic, and it is only our society that loses out by not doing so

Farrukh

496,597 Aufrufe • vor 1 Jahr

In 40 years of dictatorship M7 was not able to build decent hospitals, so he comes to London for eye treatment. We will welcome him! Let's hope he doesn't explode into blind fury.

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