UK Column News - Monday, 14th November 2022 57:19 - FTX and price controls: Trading turds, absorbing the unabsorbable

 

UK Column News - Monday, 14th November 2022 57:19 - FTX and price controls: Trading turds, absorbing the unabsorbable

57:19 Mail Online: $515m is STOLEN from collapsed crypto exchange FTX

Effective Altruism Forum’s potted biography of founder of crypto platform FTX, Sam Bankman-Fried (“SBF”)

Worth remembering: Utilitarianism means getting away with it “for the greater good”

Clip: Nobody Special Finance summarising the FTX farce in under 100 seconds

“Government regulations don’t protect you; they protect the crooks”

Ukrainian angle to the FTX collapse is even worse: @Ben_Kew—FTX CEO Sam Bankman-Fried bankrolled the Democratic Party’s midterms war chest

Reuters: Hedge fund Galois Capital says half its capital stuck on FTX exchange

Who with fiduciary duty would make such an investment?

Yahoo! Finance: Ukraine Partners With FTX and Everstake to Launch New Crypto Donation Website

David Scott commentary: “It all seems very circular: money went to Ukraine, which went to the Democratic Party, which funded the Ukraine war”

Clip: Value of cryptocurrency investments discussed by two frank gentlemen

“It draws in a lot of charlatans … trading turds”

1:05:12 BBC—Jeremy Hunt: Everyone will have to pay more tax

David Scott analysis: Governments can change tax rates; they cannot make more tax revenue appear—we have a government that we cannot afford

BBC—Rishi Sunak: We’ll deliver the public finances that the markets expect

We are now running the country to satisfy the expectations of financiers

1:06:58 US International Trade Administration: Argentina extension of consumer goods price controls

David Scott prediction: This is the West in a year or two and will cause shortages, because price controls never work

Financial Times: Argentina unveils price controls to tame inflation

“The state will absorb the extra costs”—with which of its non-existent resources?