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Forwarded from Nesara - Gesara [SCAM]
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Forwarded from Q The Storm
Biden “Won” 25 of the 26 Cities & Counties That Received at Least $1M in Zuckerbucks CTCL Grants
If you follow the Zuckerbucks money that poured into the 2020 election, it reveals a massive Dem influence operation.
These charts illustrate Zuckerberg’s impact on 4 of our swing states through his $400 million in donations to The Center for Tech and Civic Life (CTCL).
Arizona, Georgia, Michigan, and Pennsylvania weren’t the only ones: Nevada, North Carolina, Texas and Virginia all have very similar looking charts.
25 of the 26 cities and counties that received at least $1 million from CTCL went to Biden in 2020.
@qthestorm
If you follow the Zuckerbucks money that poured into the 2020 election, it reveals a massive Dem influence operation.
These charts illustrate Zuckerberg’s impact on 4 of our swing states through his $400 million in donations to The Center for Tech and Civic Life (CTCL).
Arizona, Georgia, Michigan, and Pennsylvania weren’t the only ones: Nevada, North Carolina, Texas and Virginia all have very similar looking charts.
25 of the 26 cities and counties that received at least $1 million from CTCL went to Biden in 2020.
@qthestorm
Forwarded from Disclose.tv
JUST IN - Cryptocurrencies such as #Bitcoin could trigger a "financial meltdown unless governments step forward with tough regulations," warns Bank of England deputy Sir Jon Cunliffe (Guardian)
@disclosetv
@disclosetv
Forwarded from 🇳🇱Its Me🇳🇱
The IMF has a serious problem with stablecoin Tether: “Potential risk of contagion to global financial system”
The IMF does not currently see cryptocurrencies as a risk to the global financial system, although ironically some of them are designed to replace that system one day. What the IMF is concerned about is the growing market value of stablecoins and especially how the price of such a coin is supported.
Stablecoins are crypto that closely track the price of fiat coins, such as the dollar or the euro. They are purchased with fiat money and exchanged on crypto exchanges for digital coins or other crypto services. Tether (USDT), a dollar stablecoin, has a market value of $68.7 billion at the time of writing.
The stablecoins, which are the backbone of crypto investing for many investors, are increasingly being targeted by regulators and other institutions. In its annual Global Financial Stability Report this month, the IMF wrote that Tether does not pose a “systematic threat” to the international financial system. But risks of using the stablecoin need to be “closely monitored”. There must be “global standards” for such digital assets to counter a “contagion risk” across markets, the IMF believes.
Why are Tether and other stablecoins so “dangerous” according to the IMF?
The report states that stablecoins pose a potential risk to markets because they are regulated differently (if at all) in different regions of the world. The total market value of stablecoins has grown from 20 to more than 120 billion dollars in one year, thanks in part to the stock market boom and Covid stimulus packages.
Due to the expanding market value, the differences in local regulation and the weak spots of stablecoins would have more and more consequences, the IMF reasons. The first of those problems the international institution calls “poor disclosure”. According to the IMF, it is not always clear how the price of a Tether is supported.
Indeed, the developers of Tether have maintained for years that each of their coins is backed by a dollar in the bank. That later turned out not to be true. According to an auditor from the Cayman Islands, where Tether's bank is said to be located, the crypto company's reserves actually consist of tradable securities; some kind of debt.
Jerome Powell, the chairman of the US Federal Reserve, once told Congress that such commercial papers are not really a guarantee of liquidity. Particularly in times of a financial crisis, it would be particularly risky to rely on such securities. Powell also noted that stablecoins need to be better regulated.
What does the IMF propose?
The IMF believes stablecoins could fall victim to massive sales during difficult financial times, which could affect the entire global financial system due to their massive market value. To back up that argument, the IMF points to the fiasco surrounding the failed launch of stablecoin IRON, which collapsed in June, along with a major investment from noted crypto bull Mark Cuban. These so-called “bank runs” can lead to the massive sale of commercial paper that makes up Tether's reserves, which in turn can lead to a shortage of liquidity, causing people to lose money.
While individuals will be affected first, the stablecoin system has not yet had an impact on the current financial order, the IMF notes. But that could change at any moment, especially when too much crypto is bought on the same crypto exchange, the IMF thinks. Pressure on such a crypto exchange or harmful hack could cause the stablecoin network to collapse like a house of cards, the international institution thinks.
However, the IMF is not thinking about too strict regulation or ban on stablecoins. The organization wants regulators to better research stablecoins and come up with a regulation that can ensure investors know exactly how their coins are backed.
“If you look at the market cap of stablecoins, you will see that they are made up of some of the largest offshore money market funds. They are certainly not small fish,” concludes IMF money market director Tobias Adrian.
The IMF does not currently see cryptocurrencies as a risk to the global financial system, although ironically some of them are designed to replace that system one day. What the IMF is concerned about is the growing market value of stablecoins and especially how the price of such a coin is supported.
Stablecoins are crypto that closely track the price of fiat coins, such as the dollar or the euro. They are purchased with fiat money and exchanged on crypto exchanges for digital coins or other crypto services. Tether (USDT), a dollar stablecoin, has a market value of $68.7 billion at the time of writing.
The stablecoins, which are the backbone of crypto investing for many investors, are increasingly being targeted by regulators and other institutions. In its annual Global Financial Stability Report this month, the IMF wrote that Tether does not pose a “systematic threat” to the international financial system. But risks of using the stablecoin need to be “closely monitored”. There must be “global standards” for such digital assets to counter a “contagion risk” across markets, the IMF believes.
Why are Tether and other stablecoins so “dangerous” according to the IMF?
The report states that stablecoins pose a potential risk to markets because they are regulated differently (if at all) in different regions of the world. The total market value of stablecoins has grown from 20 to more than 120 billion dollars in one year, thanks in part to the stock market boom and Covid stimulus packages.
Due to the expanding market value, the differences in local regulation and the weak spots of stablecoins would have more and more consequences, the IMF reasons. The first of those problems the international institution calls “poor disclosure”. According to the IMF, it is not always clear how the price of a Tether is supported.
Indeed, the developers of Tether have maintained for years that each of their coins is backed by a dollar in the bank. That later turned out not to be true. According to an auditor from the Cayman Islands, where Tether's bank is said to be located, the crypto company's reserves actually consist of tradable securities; some kind of debt.
Jerome Powell, the chairman of the US Federal Reserve, once told Congress that such commercial papers are not really a guarantee of liquidity. Particularly in times of a financial crisis, it would be particularly risky to rely on such securities. Powell also noted that stablecoins need to be better regulated.
What does the IMF propose?
The IMF believes stablecoins could fall victim to massive sales during difficult financial times, which could affect the entire global financial system due to their massive market value. To back up that argument, the IMF points to the fiasco surrounding the failed launch of stablecoin IRON, which collapsed in June, along with a major investment from noted crypto bull Mark Cuban. These so-called “bank runs” can lead to the massive sale of commercial paper that makes up Tether's reserves, which in turn can lead to a shortage of liquidity, causing people to lose money.
While individuals will be affected first, the stablecoin system has not yet had an impact on the current financial order, the IMF notes. But that could change at any moment, especially when too much crypto is bought on the same crypto exchange, the IMF thinks. Pressure on such a crypto exchange or harmful hack could cause the stablecoin network to collapse like a house of cards, the international institution thinks.
However, the IMF is not thinking about too strict regulation or ban on stablecoins. The organization wants regulators to better research stablecoins and come up with a regulation that can ensure investors know exactly how their coins are backed.
“If you look at the market cap of stablecoins, you will see that they are made up of some of the largest offshore money market funds. They are certainly not small fish,” concludes IMF money market director Tobias Adrian.
Forwarded from RT News
Deadly Typhoon Kompasu batters Hong Kong, grips southern China
Incredible time-lapse footage shows the extent of the typhoon’s power as it hit the island earlier on Wednesday.
It’s the second major tropical storm to lash Hong Kong in a week, with the city’s meteorological agency recording gusts of up to 120kph (75mph).
The typhoon resulted in at least one death and multiple injuries, before reaching landfall in southern China's Hainan. Video online shows waves crashing against the shoreline.
Subscribe to RT: t.me/rtintl
Incredible time-lapse footage shows the extent of the typhoon’s power as it hit the island earlier on Wednesday.
It’s the second major tropical storm to lash Hong Kong in a week, with the city’s meteorological agency recording gusts of up to 120kph (75mph).
The typhoon resulted in at least one death and multiple injuries, before reaching landfall in southern China's Hainan. Video online shows waves crashing against the shoreline.
Subscribe to RT: t.me/rtintl