The Fed and the War against the Banksters

[SOL]

As expected the Fed is giving the Middlemen the middle finger. This confirms that the Fed has or is very close to declaring war on the Banksters. Now it remains to be seen who will be taken down first, Investing bankers and hedge funds etc or your traditional banks. All of the above is no longer necessary and impede the markets instead of making them more efficient. The problem with AI is it can analyse data superfast and spot these anomalies fast, so the Fed is being proactive.

Federal Reserve Bank of Minneapolis President Neel Kashkari on Monday became the latest central bank official to push back against the idea that the trading frenzy in GameStop Corp. and other hot stocks calls for a monetary policy response.

“GameStop has gotten a lot of attention. If one group of speculators wants to have a battle of wills with another group of speculators over an individual stock, God bless them,” Kashkari said while answering questions during a virtual town hall event.

“That’s for them to do, and if they make money, fine. And if they lose money, that’s on them,” he said. “I’m not at all thinking about modifying my views on monetary policy because of speculators in these individual stocks.”

GameStop shares were lower on Monday after rallying 1,600% in January. Hordes of day traders piled into the shares after noticing elevated short interest in the company in hopes that buying would force shorts to cover, driving the price ever higher.

https://finance.yahoo.com/news/fed-kash ... 47490.html



On a separate topic, eventually, AI will cause the demise of many a politician as AI programs will come out that will be able to predict what a given candidate will or won't do/


Other trends

A dark AI assistant will debut in the not too distant future. This Dark AI assistant will be able to find every loophole to lower taxes, hide one's money, how to hide behind a series of corporations with ease and what I have mentioned is just the grey side of the dark side.

[Triplethought]

On a separate topic, eventually, AI will cause the demise of many a politician as AI programs will come out that will be able to predict what a given candidate will or won't do/


Other trends

A dark AI assistant will debut in the not too distant future. This Dark AI assistant will be able to find every loophole to lower taxes, hide one's money, how to hide behind a series of corporations with ease and what I have mentioned is just the grey side of the dark side.

I just don't see either of those happening in a 5 year time frame. 10 years? Still not. As you said a couple days ago, people don't cooperate. I can't visualize a scenario where as a voter I prefer and would accept and trust an AI to write and vote on policy (essentially a virtual politician to represent me). The problem is the AI would not have accountability (or rather it would but might not give a crap).

The dark AI assistant - OK I can visualize a smart tax assistant that could be incorporated into Turbotax or whatever and use natural language to ask questions and prepare a return. But I own 4 business entities and control 2 more and I rarely change my corporate paperwork. Plus pending legislation is making it more impossible to hide behind a series of corporations (the "know your customer" laws in banking etc). One problem I see with BTC is the US government's background research to create their own digital currency. Once they do that I fear they may outlaw BTC. The government committee on digital currency is moving slowly but they'll publish something in the next 2-3 years I bet.

I actually suspect social media will get saddled with "know your customer" laws requiring facebook and twitter users to show ID, a credit card etc to establish an account. Already you can't have an apple store ID without entering a credit card. The ironic part of that is democrats will have to explain why you don't need an ID to vote, but you DO need one to post on twitter.

[SOL]

On a separate topic, eventually, AI will cause the demise of many a politician as AI programs will come out that will be able to predict what a given candidate will or won't do/

I think you misunderstood the above statement. I was stating that AI would weed out BS candidates. So lets say you have 15 candidates. Without wasting hours trying to figure out who the jackass is, AI could immediately narrow the field and even suggest new players and something like this will gain traction as the masses want to rebel againt the elite. Think of it like a political version of wallstreet reddit group in its early stages

As for Taxes I was refering to what big corporaitons do when they hide behind other companies. They use internationa entitites, like the make the head office in Ireland so most of the profits have to be directed there where the corporate Tax rate is roughly 12%, or bermuda, etc. Big companies have been using these loopholes to abuse the small player for years. You have to do your research in this but maybe a subscriber that is an accountant could shed some light on this topic

[Triplethought]

On a separate topic, eventually, AI will cause the demise of many a politician as AI programs will come out that will be able to predict what a given candidate will or won't do/

I think you misunderstood the above statement. I was stating that AI would weed out BS candidates. So lets say you have 15 candidates. Without wasting hours trying to figure out who the jackass is, AI could immediately narrow the field and even suggest new players and something like this will gain traction as the masses want to rebel againt the elite. Think of it like a political version of wallstreet reddit group in its early stages

As for Taxes I was refering to what big corporaitons do when they hide behind other companies. They use internationa entitites, like the make the head office in Ireland so most of the profits have to be directed there where the corporate Tax rate is roughly 12%, or bermuda, etc. Big companies have been using these loopholes to abuse the small player for years. You have to do your research in this but maybe a subscriber that is an accountant could shed some light on this topic

Ooooohh regarding the voting I like that idea. It would not be hard at all to write a question set for the voter to determine what their positions are (I've actually taken such a quiz and it determined in 10 questions that I'm a libertarian". If you pointed the AI to your facebook page and it read everything you ever posted, it would nail your opinions even more (without asking you any questions). I believe the advertisers already do that in the background (they know if you're male/female age etc). Then, simply analyze the candidates website, press statements and other available data on each candidate. Then do a recommendation for the voter. What would also be useful is on the ballot questions. I always read the questions and try to determine which way to vote but it'd be great to have a full AI analyze everything that is stated about a particular ballot question and compare that to your own political philosophy, giving you yay or nay decisions on each ballot question. In the end the party affiliation mostly does all this for you so I'm not sure how to monetize that effort (would you pay for a voter recommendation AI?)

As for corporate loopholes you're suggesting the AI to analyze the corporate financials and data and recommend which government to base their tax base and filing tricks. I find that a harder problem because moving target that politicians could change at a whim. But it's really like having an international tax law attorney expert who makes similar recommendations based on his knowledge of the tricks. So I guess that part wouldn't be too hard.

It makes me wonder - locally we have radio ads to produce your living trust and will for about $1200-$1400 for estate planning. I'm sure that assumes a normal couple with a few properties and nothing too complicated. I'm sure if an AI could ask a series of questions it could produce such a document for you. Sort of an upgrade to legal zoom. THAT one you could monetize pretty easily. "The Trust AI". Lawyers would hate it.

[Triplethought]

On a separate topic, eventually, AI will cause the demise of many a politician as AI programs will come out that will be able to predict what a given candidate will or won't do/

Ooooohh. I see. I don't get why a voting recommender would be the demise of a politician since 1/2 the population is going to vote for each candidate either way. Having said that I like your idea. It would not be hard at all to write a question set for the voter to determine what their positions are (I've actually taken such a quiz and it determined in 10 questions that I'm a libertarian". If you pointed the AI to your facebook page and it read everything you ever posted, it would nail your opinions even more (without asking you any questions). I believe the advertisers already do that in the background (they know if you're male/female age etc). Then, simply analyze the candidates website, press statements and other available data on each candidate. Then do a recommendation for the voter. What would also be useful is on the ballot questions. I always read the questions and try to determine which way to vote but it'd be great to have a full AI analyze everything that is stated about a particular ballot question and compare that to your own political philosophy, giving you yay or nay decisions on each ballot question. In the end the party affiliation mostly does all this for you so I'm not sure how to monetize that effort (would you pay for a voter recommendation AI?)

As for corporate loopholes you're suggesting the AI to analyze the corporate financials and data and recommend which government to base their tax base and filing tricks. I find that a harder problem because moving target that politicians could change at a whim. But it's really like having an international tax law attorney expert who makes similar recommendations based on his knowledge of the tricks. So I guess that part wouldn't be too hard.

It makes me wonder - locally we have radio ads to produce your living trust and will for about $1200-$1400 for estate planning. I'm sure that assumes a normal couple with a few properties and nothing too complicated. I'm sure if an AI could ask a series of questions it could produce such a document for you. Sort of an upgrade to legal zoom. THAT one you could monetize pretty easily. "The Trust AI". Lawyers would hate it.

[SOL]

Another nail in the coffin of the bankster, HSBC is leaving the US



HSBC is set to withdraw from U.S. retail banking, a source familiar with the matter told Reuters on Monday, as Europe’s biggest bank seeks to dispose of a business that has long underperformed.

The exit from the U.S. consumer business will form part of the lender’s strategy update due on Tuesday, as Chief Executive Noel Quinn seeks to cut costs, boost fee income and continue the lender’s shift towards Asia.

The sale or closure of its around 150 remaining branches in the United States, after it shuttered 80 last year, would mark the end of HSBC’s struggle to turn around a business that has struggled to make inroads against incumbent domestic rivals.

Ahead of the strategy update Quinn on Monday reshuffled several of his senior lieutenants.

HSBC appointed Nuno Matos as chief executive of its wealth and personal banking business, while chief compliance officer Colin Bell became head of HSBC’s European business.
https://www.cnbc.com/2021/02/22/hsbc-to ... rperformed.

[Tactical Apprentice]

Don't take this as a blind allegiance to a digital currency but more of a simulated FED wargame possibility. Interested in what the group thinks.

The SEC lawsuit against Ripple is settled and provides a legal framework for RippleNet and XRP as a digital currency (with a lower-tier definition as not to be a true fiat killer). The Fed and global central banks announce their partnership and use XRP for trillions of dollars worth of global transactions daily, and XLM being a sister currency rises as the coin of the masses.

Central banks naturally had advance warning and positioned themselves handsomely on the new XRP infrastructure using available collateral to back it (gold, oil, etc..), and with the forces of mass panic and euphoria, they drove the price of XRP to near Bitcoin level heights. This move provided enough liquidity and capital to enact A Great Reset (couldn't help myself) of global sovereign debt. Allowing fresh balance sheets for progressive policies like UBI and green initiatives.

Ripple themselves became a central bank, investment bank, commercial bank and broker providing trades, deposits and transfers of all kinds instantaneously for fractions of a cent using their XRP network. All the while under the direct influence of the Fed, Ripple provided an arms-length institution that was able to take aggressive actions on the masses all the while maintaining the Fed's virtuous image.

Banks begin to be bled dry under the pressures of convenience and efficiency with the advance in technology. AI tellers, AI customer service reps, AI financial advisors and direct UBI delivered on the XRP network provided the final nails in the middle bank-men coffin. Simultaneous assaults on competitive currencies were launched, most under the guise of environmental righteousness (Bitcoin's energy requirement) and the totalitarian belief that anonymity=nefarious criminal.

So ended the age of the cartels.

..... Kind of sounds like Q for Wallstreetbetz when I read it back.

[SOL]

All this might work if Hackers did not exist. Central banks (AKA the Fed) will never win the war completely. They will be in a position to con most of the masses as is the case currently, but the more they try to gain total control the more they will fail. In doing so they will usher in new systems that will compete with whatever they have in place. The need to be free and challenge is very strong within rougly 9 to 15% of the population.

Let's not forget China, while it might be ton the short end of the stick, they continue to rise and on PPP (purchasing partity power) basis their economy has already overtaken that of the US. They launched a new credit card called Union Pay something no country has been able to do successfuly other than the US. Within a few years they overtook AMEX, then they overtook VISA and I suspect they might have taken out MC, this is a massive feat, which puts them in a position to eventually challenge the entire US banking system by offerring an alternative to the world.


New research shows that spending on payment cards continues to grow strongly, expenditure rose by 13% to reach $35 trillion in 2019.

Share of Purchase Volume worldwide by card schemeThere were a number of factors driving this impressive growth; in developing countries, government financial inclusion initiatives continue to encourage people to open bank accounts for the first time. In more mature markets, contactless is hastening moves away from use of cash, a trend which COVID-19 has accelerated in 2020, due to health and hygiene concerns.

UnionPay’s share of spending
UnionPay has the largest share of global card expenditure, with 45%. This is largely driven by spending in China, the world’s largest market, where UnionPay accounts for 93% of the total. The report shows that spending on Chinese cards has continued to rise. The main reason for this is that debit cards, which have historically been used primarily for cash withdrawals, are increasingly being used for everyday payments.

Visa (including its sub-brands Visa Electron, V PAY and Interlink) and Mastercard (including Maestro and Mastercard Electronic) are the second and third largest schemes worldwide with 27% and 18% respectively.

However, the analysis shows that if China is excluded, the picture is significantly different – Visa is then the largest scheme with 39%, followed by Mastercard with 32%. UnionPay only has 1% of non-Chinese expenditure, highlighting the massive influence China has on global market shares.

https://www.paymentscardsandmobile.com/ ... ll-on-top/


Russia could also do this, they could offer accounts that are totaly anonymous just to spite the US. Hence there will be even more alternatives then they are today for those willing to look.

[Triplethought]

Visa (including its sub-brands Visa Electron, V PAY and Interlink) and Mastercard (including Maestro and Mastercard Electronic) are the second and third largest schemes worldwide with 27% and 18% respectively.

However, the analysis shows that if China is excluded, the picture is significantly different – Visa is then the largest scheme with 39%, followed by Mastercard with 32%. UnionPay only has 1% of non-Chinese expenditure, highlighting the massive influence China has on global market shares.

https://www.paymentscardsandmobile.com/ ... ll-on-top/


Russia could also do this, they could offer accounts that are totaly anonymous just to spite the US. Hence there will be even more alternatives then they are today for those willing to look.

Any stock plays there? Seems like Visa and mastercard are good long term plays like always. It'd be interesting to know what strategies they're employing to stay relevant. The 2-3% they charge every vendor is a huge cash cow.

Philosophically if part of government's job is to provide currency to pay for things, the US government has long seeded a big part of it's responsibility to visa and mastercard. and now paypal and venmo and apple wallet and epay etc. I have my doubts the us congress will move fast enough to create an official us digital currency. That committee probably won't have anything 2 years from now..

[stefk]

https://www.bis.org/press/p210223.htm

central bank digital currency project, initiated by China.

[Budge]

Dorsey moves into online banking:

https://www.armstrongeconomics.com/worl ... row-trump/