Re:MasterCard to open up network to cryptocurrencies
by IG_Semmelweiss on Thursday February 11, 2021 @11:41PM
(#26110801)
Montenegro and Ecuador are effective colonies in their most developed areas.
Most of the valuable property in major metros is owned directly by US-based or EU-based emigrees , who paid top dollar for property that has a ROC duration in excess of 20 years.
Most of the metro areas on these countries are rapidly turning hollow projects which cheap rents or undeveloped land. It is quickly becoming like paris.
Flat rental 2000 EUR. Buy price: 2M EUR.
When someone that is not a local is taking all your valuable land... Thats the textbook definition of colony
Re:MasterCard to open up network to cryptocurrencies
by reedjosh on Thursday February 11, 2021 @05:43PM
(#26108420)
Your argument from incredulity doesn't make what I say less true. Maybe my language was a bit strong, but there's no denying if somebody can freely make more of something you value, then they're gaining from your use of said valuable.
What about countries that don't use the dollar as currency directly, but keep a fixed exchange rate to the dollar - they would be paying the unseen tax of inflation too, right? With a fixed exchange rate if the dollar value falls, so will the value of their currency. So that would mean Hong Kong, Cuba, Jordan and the Netherlands are all "basically US colonies" too. (China may be kind of surprised about that first one.)
Does this work for other currencies, or just $USD? Are Martinique, Andorra, Montenegro and Kosovo "basically EU colonies"? - they all use the Euro as currency, but are not part of either the EU or the EEA.
We don't actually have to hypothesize about what would happen if an unstable economy switched everything over to dollars (or Euros), either directly or by exchange rate peg, because it has already happened, many times.
https://www.worlddata.info/currencies/usd-us-dollar.php