• 0 Posts
  • 89 Comments
Joined 2 years ago
cake
Cake day: July 4th, 2023

help-circle
  • Yeah, it’s relatively easy to make good money in crypto if you understand investing. There are a lot of things that are illegal in regulated securities markets that are not yet illegal with crypto.

    I intentionally don’t invest in crypto, because it doesn’t produce anything. Any money you make is just taken from another investor, usually because they don’t know what they’re doing. When you invest in a company, you make products and sell them to customers. Something is created and rarely are people cheated.

    The people investing in crypto are intentionally cheating uninformed investors in a way that is not possible in regulated securities markets.













  • Wouldn’t it take less time and money to just bake them? They’re just pies. It’s not like the recipes are secret. I could see a deli doing that but not a bakery.

    If you already have the whole bakery all you need is some butter, flour, sugar, and eggs. And you can advertise “Not from Costco!” pies.




  • No banks ask why you’re withdrawing money, except security questions for your benefit. Like to see if you are being scammed. They don’t really care, even about a million dollars.

    The person who receives the money is going to have to deposit it in a different bank, so banks are just transferring money back and forth.

    No tax authority or security agency knows about it (at least in the US). You are just not that important. If you don’t pay taxes or do something illegal they’ll get you later. The bank keeps records for like 7 years.




  • The long term effects are going to be serious whiplash. The monetary regime would go from severe inflation to super low inflation (below what Argentina needs). They will essentially be using Argentinian Government funds to buy US dollars, thereby helping the US keep its inflation under control.

    That’s good for the US, but Argentina may fall into a recession. Growing economies need a growing money supply or businesses will not be able to borrow money to expand. By essentially hitching their economy to the slower growing US economy, Argentina is ensuring that their businesses pay high interest rates to borrow money. The US government is paying you 5%, risk free. Why tf would anyone loan money to Argentina less than 10-15%?

    Remember how US tech companies all fired people at the same time when the Federal Reserve increased interest rates (it happened)? That’s what will happen to many companies in Argentina at the same time.

    Edit: lol, he was just lying about “dollarization” for votes because it’s nuts:

    He added no dollarization was planned in the short-term, as fiscal and monetary stabilization were need, the first source said.

    https://news.yahoo.com/finance/news/milei-economic-team-led-former-175214678.html