EddieJayonCrypto
3 Aug 23
We are seeing some macro moves that are definitely interesting and may leave a path back to US dollar dominance.1. Are the BRICS nations already at a crossroad? Well, India and Brazil are expressing concern over expanding the alliance because they believe China is just trying to increase its politic...
We are seeing some macro moves that are definitely interesting and may leave a path back to US dollar dominance.1. Are the BRICS nations already at a crossroad? Well, India and Brazil are expressing concern over expanding the alliance because they believe China is just trying to increase its political clout. They think expanding the bloc would turn it into something else. I frankly believe they are correct. Both China and Russia have been flexing political clout around the world in one way or another. I think the bloc will transform into some sort of outright political machine aimed at taking out the US instead of uplifting developing countries. 2. I told you about Worldcoin's biometric tie to a crypto. I have to come clean. I actually think it is far worse than just that. I believe it is biometric data grab and they have proven the point by saying they would share the data with governments and companies. I hate to say it, but I look at it as dystopian nightmare coming to life. It would seem that Kenya is not having it and has suspended 3. Berkshire's Buffett just told Fitch Ratings to kick rocks. He responded to the new US rating downgrade by saying they bought $10B in US treasuries last Monday, bought another $10B this Monday and the only question is whether or not they will buy $10B in 3-month or 6-month treasuries. Other people are saying they ratings agency should have changed the ratings for other countries at the same time. Meaning there are other countries that should also be downgraded. 4. KuCoin seems to be in big trouble. They have suspended their Bitcoin and Litecoin mining pools following it recent layoffs that are said to have affected 30% of its staff. As of August 16th the mining pools will come t a close. Users are warned to save any mining data by August 27th. Frankly, I am glad I do not use KuCoin. I think the company started going downhill once they got pressured into implementing actual Know Your Customer (KYC) rules. When you compare them to other centralized exchanges you can tell they were dependent on a non-KYC operating model as their main revenue generator. 5. Is it just me or are Elizabeth Warren and Bernie sander more vocal about crypto tax evaders more than others? What are they doing about corporations evading taxes or getting honey deals. What are they doing about all of the loopholes only afforded to the rich and wealthy? Don't get me wrong. I get there are people evading taxes on their cryptos, but how much money is there versus how much money is lost to corporations paying proportionately less than administrative assistants? Something finally comes along that is meant for the common person to take control over their money and they want to shoot it down.