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The currency that finances terrorists the most is the US Dollar.
if you believe the biggest terrorist is the US Govt and State Department than it's your morale due to use crypto.
If bitcoin was more widely used - wouldn't it be a dream come true for every wannabe Stasi/Gestapo organization ?
- It would just shift the transplant location to Russia, Myanmar, Thailand or Vietnam.
- People would transfer money into bitcoin and pay Chinese organ harvesters with Bitcoin.
- Hospitals will start offering plastic surgery to remove signs of surgery.
- People will shift or retire to places which won't prosecute them for murder.
Fundamentally people will do anything to stay alive.
BK's on your undergrad also would make it harder to take out loans for post graduate courses.
I wasn't convinced at first, but it makes sense after you think about it on a longer time scale.
The amount of sovereign debt is just unpayable in any real terms ( basket of goods ).
75 million baby boomers ! with rising projected fiscal deficit from here on out.
The easiest solution is to let the currency take a hit and default nominally.
It won't cause a huge amount of inflation, only ipads, and foreign imported goods gets slightly more expensive.
I also do not think other countries devalue as many pundits think.
CNY has been trying to gain purchasing power, as a side karma benefit, the CCP gets to own people taking money out of china and moving into USD, when USD falls by 40% then nowhere is safe ! It reduces pressure from chinese citizens to move assets abroad.
The amount of dollar denominated debt globally is just too high, so trump is right.
You could own gold, but wait ! any gain is taxed as income ( not capital gain ). Carrying it around has stiff penalties.
"You invest in how we say you invest" - Uncle Sam.
market share, which means total value ( $$ ).
> but it would take them a while to make something like a Xeon.
By a while do you mean 10 years max ? that's not a long time.
Why focus on it when South Korea, Taiwan was already doing it ?
As the article states, it's a 500 billion dollar industry.
Compared to energy, defense it's much less important ( but critical ).
Now that the US is threatening to shut them off, they are being forced to invest more heavily.
I saw a graph the other day, within 2030 or something, china was poised to hold a monopsony position in semis, something like 80% of global semi consumption is going to come from China.
It's just surprising that the US would kick their biggest semiconductor customer in the head.
How is it reactionary ? Apple hasn't been paying EU taxes, its just readjusting past wrongs.
> given that Apple laid off 300 people (with pay) out of 6,000 people they employ,
Apple is not employing people out of charity, I am not sure why we should celebrate a multinational providing jobs to people, it's like celebrating when the postman successfully delivers your mail.
> those people were transcribing Siri conversations at that.
So they deserve no dignity ?
Apple is the richest company in the world, not your struggling SMB, they can afford to treat their workers better.
- https://www.amazon.com/Princes-Yen-Central-Bankers-Transform...
There is a huge overlap here with MMT ( Modern Monetary Theory ), but the book was published way before MMT become more widely read. Richard studies what happened in Japan from an economic history prespective. ( I will do a dis-service to the whole topic trying to explain everything in a few sentences, but I will try to answer specific point raised ).
> I just don't understand, because what you seem to be saying is that for a primarily export based economy, you should just print money always.
As an exporter you cant help but accumulate FOREX. so the value of the yen would always head north, if you want to stay a top exporter you have to constantly print money to balance out your FOREX accumulation.
> Surely there must be downside?
Nope, no downside when you build capital goods that everybody else wants.
> Normally I'd say this maps to inflation and squeezed living standards- but are we just no longer seeing those effects?
inflation happens when aggregate demand > aggregate supply. If you are not supply constrained then inflation wont happen regardless of how much money you print.
Japan specifically could print unimaginable amount of money and use it to create whatever technology they want.
Technology acts as an accelerator to this deflation doom loops, since these technology products further increase supply or reduce cost.
You might have hard limits due to physical commodities like oil. But technology has been able to squeeze even more value out each unit.
> Where I'm not understanding is you're saying when they fail, the money they've lost has gone into stimulating demand for Japanese goods and kept the currency low. But firstly, that's still them failing - the company will fail, ROI will be low. It might help the domestic Japanese manufacturing industry, but it's not going to help softbank.
Japanese banks are very much interwoven with their state, softbank might get certain lending quota from BOJ that they must lend out. Remember if Japan doen't print yen and spread it around then their deflation problem gets worse. My personal opinion is Japan should pay attention to their domestic proverty problem, they could just implement UBI, but having too much Yen domestically wont solve their deflation problem. The last time they tried helicopter money, everybody just bought government bonds, making the problem worse ! So they might prefer to figure out to create demand in foreign markets.
> It's probably not even 5% - the vast majority of the money will be going to stimulate the Indian economy.
I do not think Japan really cares if the Indian economy is stimulated or not, they just want there to be healthy demand for Japanese products, printing money and lending it out and then suffering some loss might even be preferable to having a large marketing and advertisement industry like we do in the West.
Globally we are going through a period of deflation.
Japanese Banks have been dealing with this problem for 30 years now.
BOJ can print money ( yen ) and flood the world and the value of the yen would still go up !
The reason is there is a lot of latent demand for Japanese exports.
When Softbank invests in lets say India, ( through Uber drivers ), and suffers losses.
The yens released ends ups creating demand for Japanese export.
From Softbank's perspective it's a win-win, they get to be owners of really important tech companies and at the same time Japanese companies see a demand surge for their products.
It's hard to understand initially - but don't be surprised to see Softbank clones propping up in Europe in 10 years - once the EU has been completely battered by deflation.
In the US you might yet see the largest types of these funds in the future once the US govt. decides it wants some fiscal spending.
Skip to Q&A
India is going to continue to build 200 more coal powered plants despite knowing exactly how awful climate change is going to be for India.
Pakistan is following similar strategy.
The idea is that Europe/US have more to lose due to climate change, so when time comes they can use these coal fired plants as a bargaining chip ("bribe") for technology transfer, better trade deals, etc.
I do not agree or disagree with his assessment, it could very well be true.
But if you are India, spending MORE money to fix climate change wont make much of a difference as the biggest polluters are US / CHINA / EU.
So a MAD type strategy makes sense from their perspective.