(https://ichef.bbci.co.uk/news/976/cpsprodpb/17644/production/_122221859_35e5c380-cb81-4d52-9eff-8667e4f9dc0c.jpg)
He is a smiley, glass-half-full kind of guy - naturally positive and full of energy.
He's smart, too, and works in an Indian tech company.
He's the least likely person, you'd think, to fall victim to an online scam.
Yet in October he was defrauded out of his life's savings - $4,000 (£3,000).
He couldn't believe it.
"I was so stressed. I was just lost. I told my wife and she said, 'I thought you were intelligent. How did you lose so much money?'"
He messaged me in late October out of the blue, telling me what had happened.
He wasn't just telling me about the deception, though. He was warning me.
Because central to the scam was a distorted version of my reporting.
Earlier this year I was given access to a Bitcoin mine in New York state. I made a report about it - focused on how mining Bitcoin produces carbon emissions.
However, that is not the report that Chiranjeevi saw.
On 18 October he joined a Telegram channel called B2C Mining.
Telegram is an encrypted messaging service, like WhatsApp, but with "channels", which can feel more like a Facebook group.
The B2C Mining channel claimed to be part of a company that owned and operated a Bitcoin mine in Russia.
At the top of the group, pinned to the channel, was my report... only it wasn't quite my report.
It had been altered, cutting out anything to do with climate change, and suggesting that the mine I had reported on was in fact the channel's.
"I thought it was very genuine," Chiranjeevi says. "That is what allured me".
"I thought that you had visited the mining company," he told me. "I've been seeing the BBC since I was a kid, and it has a reputation all over the world."
There were other videos, too - of happy customers who had made money. People had also posted the gains they had made.
Chiranjeevi was intrigued.
The company claimed to mine crypto-currencies by request - with amazing profits.
"They said they would mine them for 24 hours, and they could make you around 20-to-40%, depending on the type of crypto-coin," Chiranjeevi said.
The group had nearly 3,000 members. Surely so many people couldn't be wrong? He decided to give it a whirl.
He began speaking to the channel admin privately - someone who claimed to be the chief executive of B2C Mining - Vadmir Peavsky.
Vadmir Peavsky is not a real person, but we'll get on to that.
Peavsky told Chiranjeevi that if he were to send him over $160 they would mine a type of crypto-currency for 24 hours.
Twenty-four hours later, his investment was returned with interest. Chiranjeevi had made about $40. He couldn't believe how simple it was.
"It was easy money," he says.
Chiranjeevi lives in a flat. He's comfortable enough. However, he has bigger dreams. He wants to live in a house, and he wants to put his children through university.
Those dreams suddenly seemed attainable. He now had a side hustle, a second income, almost, investing in crypto-mining.
He decided to raise the stakes.
This time he decided to give Peavsky $250 in a crypto-currency called Tron. In five days he was hoping for some hefty returns.
However, as the mining started, Peavsky began to message with bad news. The mining had run into problems. Peavsky needed more money to fix them.
And if Chiranjeevi didn't pay, he might lose his investment.
"I fell into his trap" he says.
It wasn't the last request. The problems kept coming. More money was needed to keep the mining going, to save his initial investment. There's a point in the exchange where you think Chiranjeevi has worked it out...
But he was in too far. He'd run through his entire savings and was now borrowing money from his family. But even then, he made one last payment, hoping, praying, it was real.
It wasn't.
"The fallacy of sunk costs, time pressure, good cop/bad cop... It's a classic scam," says Jessica Barker, author of Confident Cyber Security.
Barker says Telegram's end-to-end encryption, combined with a growth in users, has attracted more and more scammers to the platform.
As part of my research into the group I found another man who had been deceived. It took a bit of time for him to speak to me, and he did so on condition of anonymity.
The student, who is 19 and also from India, told me he lost his and his family's savings.
He wanted to mine at a lower scale, initially with $15.
Peavsky began to pressure him to invest more. "Can't you borrow money from family and friends?" he said.
Eventually the student did. He promised the people he loved he could give them big returns in exchange for their rupees.
But to his horror, the "just one more" payment requests started coming. If he didn't pay within a certain time frame, his entire investment was to be forfeited.
He borrowed more money, eventually giving Peavsky $400 - a huge amount to him.
The student began to realise that it was a scam. Terrified, he began to beg Peavsky to give him his money back.
Finally, Peavsky asked him, as if it were a ransom video, to upload a clip of him saying how pleased he was with the service.
It helps to explain why there were so many positive videos on the group channel: some had been made under duress.
The student told me he felt suicidal after that final exchange.
I had many questions about the scam, but the most obvious was: who is Vadmir Peavsky?
I first started with the company that Mr Peavsky claimed to run - B2C Mining. This is a real company, based in Almaty, Kazakhstan. But it's not run by Vadmir Peavksy.
The company builds Bitcoin mines for clients, and repairs machinery. Some of their pictures and branding had been used on the Telegram channel.
"We don't have any Telegram channels and we don't sell any crypto-currency," Vladimir Ligai, who works at the company, told me.
The scammers used this picture, taken from social media, claiming it was part of their mine. They also used the B2C logo and name.
full article https://www.bbc.co.uk/news/technology-59659881 (https://www.bbc.co.uk/news/technology-59659881)
after graduation, I learned something from I can't forget, people don't want to fix problems so to take advantage of it. inflation cant be stopped because people up there makes use of it. low interest rates has little to do with growth, it only grows the financial markets. growth is about the people providing innovation or output.
Bryan Brooks on point
Oil stocks aren't overpriced imo, still relatively low. But will probably also go down if a substantial correction occurs.
One thing is clear, California politicians are a mess and embarrassment.
Turkey the best example of not increasing interest rates :-)
STOCKS and Bonds were created to make the elite wealthy.. Not some thing that is, or ever was, a NECESSITY. It's sadly, just like playing the LOTTO. But people continue to do it, even post-Pandemic.
Lumber went down because of limited processing. Klausner One in Live Oak, Florida shutdown end of 2018 due to business problems and the mill was being sold at tax auction. Binderholz runs the mill now and started production back in the spring of 2021 which is why the prices have gone down. This facility produces a million board feet annually.
POWELLLL GO BRRRRRRRRRRRRRR!!!!.....
Yes, get rid of all democrats and socialists
This inflation is transitory, print money obviously have no consequences, pffffff. the central command economy of the Soviet Union (united states) work vary well, let the government produce chips, or infrastructure. system appear to be a viable economic alternative, dont worry, everything wanna be ok
PAIN GIVES A LESSON & EVERY LESSON CHANGES A PERSON.!!!*️️️
Dollar is the biggest of all
Homes will never crash
The bond market
*The crypto market has been favourable in the past weeks, I keep missing out on this opportunity, I'm most certainly very impatient how can I ever make a profit in the crypto market*
0:18 lol.... 59% Come in India
When you give steel and lumber prices can you give units with those too.
thumbs down
ah yes another possible major financial crissis,what a time to be alive
When you give steel and lumber prices can you give units with those too.
Transitory
Wow investment with ️is cool my blockchain wallet was just sent 10k worth of bitcoin so Awesome
could not buy ethbear today at ftx, why is that i wonder?
The Fed doesn't need to be reformed... it needs to be abolished and the dollar needs to return to gold and silver, as described in the Constitution.
No because represent paid more easily your own.
Refugees Token is the next 100x
%3 interest rate will bankrupt the US. It's simply not possible to raise it that high which means if inflation ever manages to slip and expectations enter a loop, there will be absolutely no way to tame it back. The US has to start paying back the debts for which it needs to let go of the strong dollar insistance that creates almost a trillion dollar deficit every year.
When the big gamblers on the Wall Street sucking tax blood money from Fed are stopped. When unregulated shadow banks like BlackRock are in incharge of both Fed and stock markets - bubbles will keep blowing.
Well sounds like most of them have no clue what they are talking about.
more to the point can the criminal banks be stopped
The bubble is transitory
What are the benefits of media exaggerating things like potential inflation and turning into an unsolvable crisis? Do you miss all the drama that Trump could give you on a daily basis for news? Back off using words like crisis until it is one.
Whyyy are people comparing gas prices from LAST year during a time hardly any one was driving...compare to 2019
Everything
Well, once you've printed the money, no, you can't stop inflation. Prices have to rise to adjust to the new amount of money in circulation. But it could have been not caused in the first place by not printing trillions of dollars. And while you can't stop the inflation that's going to hit on account of the money already printed, you can stop yet more inflation but not printing yet more money.Of course the powers that be will claim they are going to somehow fiat and decree inflation into submission, yet keep printing like crazy, then be baffled and surprised how and why inflation keeps going even though they issued fiat and decree saying no more inflation. Why won't the economy just obey our fiat and decree? We _said_ no more inflation, why won't it just stop? And oh, since it won't stop, we'll just say that actually what we want and should have!
@Ms. Garcia - @4:30:45 into the YOU FORGOT TO INCLUDED ASIANS IN QUESTIONS. ASIANS ARE PART OF THE MINORITY GROUP, IN CASE YOU HAVE FORGOTTEN. IM ALWAYS SICK AND TIRED WHEN PEOPLE FORGET TO INCLUDE ASIANS WHENEVER TALKING ABOUT MINORITY ISSUES. MOST IMPORTANTLY, NOT ALL ASAINS ARE WEALTHY. THERE QUITE A FEW ASAINS WHO ARE INDEED POOR.
Brian Brooks must be protected at any fee
gamestop wasn't a bubble, if it was a bubble, it wouldn't stabilize at still 1000% over what it was originally at after one year
Democrats gonna tax the crap outta crypto.
Good to see discussion of Financial inclusion. Unfortunately, this group reflects an industry that excludes the Black and Brown community as companies, investors, or other participation. The lack of access to capital and the exclusion that exists in banking needs to be addressed in Digital assets to solve this issue.
"Pop goes the whistle"
The us economy is dead, these people should be ashamed of themselves for doing this to the country. They just keep printing money, more inflation is on its way.
Yes inflation can be stopped at anytime but biden''s just busy his his covid game. In all his political life, he rarely or didn't talk about his economy viewpoints but criticized only. He got elected because people wanted to get rid of trump's racism in the WH.
GameStop is not a meme stock. You lost, deal with it
LOL when I hear the 2 % preferred rule... Have they ever done a good job of keeping that the average rate.. LOL! I think the average rate has been more closer to like 3 or 4% over the last 40 years, let me know if Im wrong. I like learning more than I like being right by a lot.
The is a bit misleading... 1. They were looking at price change rather than volatility (ie. Variances in price change over time). Whenever there are more participants in a market exchange, prices will fluctuates. It just means more capital shifted into the market. 2. Cryptocurrency, Tesla, GME and AMC, etc had something much more... it was a way for the little guys (ie. Retail investors) to give the middle finger to the institutional investors and big banks. And it worked. Lol. It was about democractic shift even worrying the Governments... 3. Every new asset class in the are from emerging markets. Tesla is leading the EV industry. Bitcoin is leading the Crypto industry. Low fee stock ownership are leading the way for retail investors...
Out of all the crypto currencies out there, Stellar XLM was chosen. Pay attention, they will play a huge part in the future of finance in not only the US but globally!
current topics are blockchain, artificial intelligence or quantum computer, we have people who lead us and who hardly use a webcam or a common microphone. the future looks good. by the way, let's take a look at the dialogue that all the participants in the meeting had and this Sherman, oh God, the least informed but the worst attitude.
if the mask is below the nose .. it does nothing,,
Shocks are all about future I think. If you wait until the company is earning a fair amount of moeny or mature, there won't be a fair price either. So some companies that is not earning very much now or even with minus earning could seem very expensive. But that doesn't mean it's in a bubble. You take your bet or prediction about company's furture and you earn or loss. Not some value finding which is nearly impossible i think because i think the market is kind of effictive so why should you find something that is highly undervalued?
2:41:05
Inflation is the keystone of your system. If you promise not to invade our country, we'll switch to gold
EV's, Biotech Spacs, cryptos and anything Meta is probably in a bubble territory. It'd be interesting to see another speculation driven bubble pop like the .dom bubble. The internet is still around but not how people speculated it to be in the late 90's and got burnt.
Also, i cant wait until congress finds out that if you type the wrong address when transferring wallets, you lose all your money. Lol. Clearly will be forced to be fixed.
At least we dont have a racist Russian kgb spy in the White House am I right?
Stop printing money like crazy
Houses have double in price in two years practically. Thats hyper-inflation. Plus how is housing only 31% of CPI when it accounts for more than half our paycheck.
That what happens when you print 2 trillion $ out of thin air.
Bitcoin isnt a bubble but an emerging market. Do you want internet to continue do you want digital Centralised finance from Government or do you want the Peoples Decentralised money wealth BITCOIN!!! THE Peoples wealth
Ms Dixon representing a copy and paste crypto . She talks like her company is pure genius.
0:18 lol.... 59% Come in India
No, no they cant
THE TRAIN CANNOT BE STOPPED. you can throw band aids at cancer patients it doesn't do anything. Get ready for the reset.
Short answer - No
my god would you even explain how the short squeezes came to be and more importantly WHY it was possible you greedy bunch - you guys are media terrorists this is not information
Gas prices are not inflation related
Fix the rules at the ports. Get military personnel trained to drive trucks to the ports.
We can start by hanging Central Banksters for Treason...then most of Congress for allowing it...
Jay Powell and the Fed should be rocketed to Mars. They pushed for all the monetary and fiscal stimulus, and now just can't fathom "how" we got this massive inflation. F-ing morons wanted to inflate away the US debt....
They can't stop it, so yall better get this right
Yes. In America, yes.
The fiat Currency debt TRAP
Yes it can. Re-Elect Donald J Trump
Buying power has fallen for any 2 year period since 1968. So this news is >50 years to late. We are now in the same cycle of all unlimited governments swapping between Fascism, Communism, and Fundamentalism. The only solution now is Exodus and leave the Nazi planet behind.
Ask the 1500 new billionaires created during COVID to return the stolen currency?
Why are the two CA dems so crypto skeptical?
No one asked the most important question during this hearing. Who is that blonde in the black outfit sitting behind Mr. Brooks?
It's ridiculous and I think it was planned. I was looking at used cars the other day online and saw a 1999 Ford Explorer for 7,000 dollars. I nearly choked from laughing . Sure it had low miles but it's still a 22 year old vehicle they want 7 thousand dollars for. No new gadgets added , nothing. They've lost their minds.
Im not saying crypto doesnt Experience inflation but unlike other fiat backed assets inflation doesnt harm crypto. Not only this but also the fact that fiat in general is crashing even though crypto will see corrections I really dont think crypto is in a bubble as many people think it is due to the fact that it turns fiat currency into x10 return or more not only this but aswell as crypto has its own power its own entity no body controls other than members of that blockchain or crypto holdings.
The only stop inflation!. We needed to impeach all the Democrats..
Glad people are starting to agree with Austrian economist
The Fed doesn't need to be reformed... it needs to be abolished and the dollar needs to return to gold and silver, as described in the Constitution.
Ontario is the next bubble
One word. ChyNA
watch?v=q8VIBSZEGmI&t=4s&ab_channel=CryptoMoonlightcom
"THIS HIGH INFLATION AT 6.8% IS A SELF-INFLICTED CRISIS CAUSED BY AN INCOMPETENT JOE BIDEN, WHILE PRESIDENT TRUMP ALONG WITH PREVIOUS PRESIDENTS ENJOYED A INFLATION AVERAGE OF 1.2% OVER THE COURSE OF THE PAST 40 YEARS"
The biggest problem I see ,most of us have relied on the good old government.Just what they want. Slavespeople growing their own food are way ahead of the curve. What do we expect..wa wa wa
Oil prices are up because of high demand and low supply (under Trump many US drilling sites shutdown) Higher oil prices are pushing prices in any every sectors.
Crypto keeps fluctuating, causing a lot of loss, What's the best way to make money from crypto trading?
If you are spending 40% - 50% of your income on housing, you're screwed.
Lets get some reasonable regulation ASAP!!!
If you have any savings they should be in a deflationary asset like etherium that also has amazing growth and utility and a blindingly bright future outlook.
Great Vid!
Bitcoin is sucking the wealth of America into its Vaccume like a boss.
Of course closing down our energy independence had nothing to do with this.
Yes it can be stopped by printing more money
One sided and biased coverage
LETS GO BRANDON YOU SOB
Great plan, don't invest your money and hope the price would go down... I'm going to buy some stocks, bit coin and Real Estate for now.
Cathy Wood sez Value will be slammed in 2022 Over supply
We are all screwed for years to come no matter how much you own. We are all in debt for a long time. Expect your taxes and rents to stay up ⬆️ for years while average wage struggle to keep up. Way to go Powell!!! Poor get poorer and the gap between the rich and poor to widen and poverty to get worse This will be worse than 2008.. god bless us all
<<There's no doubt in my mind that we are not only going bull, but BTC is going nuclear. A lot of people are wondering newbies who lack understanding on how trading Bitcoin works, to help them recover loss from the crash and also accumulate more bitcoin, with his program i went from having 3.8BTC to 12.8BTC in just 5 weeks.<You can reach him on TE LE GRAM >>>> @LeonCalvintrade.if now is a good time to buy because of where the price is at right now. I'd say it's outrightly wrong to just sit back hodl and wait maybe incur some losses along the line, that's a wrong mindset for an investor because as an investor finding ways to always increase and stack up more coins thereby making profiTs should be the way of lifeThat being said, the market is still all about BTC at the moment and I'll advise current investors and newbies to take advantage of Leon Calvin program, a pro trader who runs a training program for investors
Everyone knows that with 0 interest rates, the inflation cannot remain transitory. It twill keep going up.
Tesla is not in a bubble if you know the company deeply (30.5% gross margin is unheard of in auto industry). was wrong and said overvalued when it was $17 and now in $1050.
Lets not blame government printing money .
Where was Satoshi?
This was one of the most fascinating congressional panels that I have seen! Learned alot about Crypto. And yet, some of the questions...
bingo at 11:00 minutes, hmm we need to strengthen the workforce in America, too much power to various companies and employers who export American job labor and now are anti-union. If the minimum wage had matched inflation from 1968 we would be looking at 2021 rate of $25 per hour to allow persons in America, to afford to save for homes, rent cheap, save for emergencies and generate wealth for all Americans but with the minimum at $7.25, we have a poverty wage and over 40%of the American workforce is living pay check to paycheck, millions fell into poverty in 2020 pandemic. The freakin child tax credit literally lifted some 20 million-plus children out of food insecurity. Too many hedge funds and private equity firms driving up housing, rentals across America in all 50 states, and we are about to remove 455,000 truck drivers off the roads in less than 10 years with automated trucks, is one another example of millions of families being affected with job changes and the economic change of America in the 21st century.
Really interesting that every bodies talking about how this is creating value for everyone, but failing to mention that we lose much of the value of decentralization when we rely on the institutions represented here.
early gang
Bidenflation.
I believe that US gov. will not make this situation getting worse.
If you want maximum safety, regular dividends, and regular price gains, then buy the five largest Canadian banks. They are Royal Bank of Canada (RY), Toronto Dominion Bank (TD), Bank of Montreal (BMO), Bank of Nova Scotia (BNS), and CIBC Bank (CM). But don't take my word for it. Research the history of these bank stocks. Maybe in three or four years from now, you will be thanking me after your stock portfolio keeps going up. People will always require banking services.
I can't understand the mandate for the federal reserve is supposed to be stability when they are the ones to cause even more unstable events. They should only ever control the money supply based on the population and not by natural disasters and now we're seeing the product of that happening. People always seem to blame companies first for a lot of the issues at hand whenever we have a crisis arise but don't understand who were the ones to start it and continue to produce more of them. Interest rates should be at least a couple of percentage points higher because these low interest rates are providing an incentive to just borrow freely without any repercussions. I can see why bitcoin was created to challenge the stupidity of the monetary system but again it's filled with corruption and flawed with the same issue with everyone trying to play mind games with the public to make it seem like it's a fair game. I truly think the best way to get a good money system in place that is based on merit and genuine work is by utilizing the blockchain concepts to monitor for fairness in all transactions instead of just making them public. Something that denies out weighted transactions and promotes balance and stability over the toxic growth mindset beyond everything mentality.
The wealthy are buying stocks, gold, crypto, real estate, land... anything they can get their hands on. They are even trying to buy entire neighborhoods and cities.
Trump
Why would they want to stop inflation when an explicit goal of the Fed is the continuous devaluation of the USD?
+Get rid of all these mandates, people can find work, and prices will go down.
Crisis?
I don't trust. That is why not doing transaction or holding usd
Hyperinflation
stupid take, the oil price has dropped, it should hult it a little. we can take a page from athens, just produce too much oil
80% of intelligent Americans are NEVER taking the poison vaxx!
Like an addict the government will spend us into crisis they cant stop.
*5 SECOND ECONOMICS DEGREE* --->>>> Government waste equals inflation. _YOUR WELCOME_
DBA has so much in store and you don't want to miss out on huge opportunities. To the moon #DBA
IT'S AN UNFORTUNATE REALITY, BUT THAT'S WHAT WE DO AS INVESTORS. Couldn't have been said any better. You just have to listen.
Lower min wage.... that is one way.
Feds should have raised interest years ago....tapering off won't do a dam thing.
The Fed not going to stop inflation as a matter of fact there trying to destroy there system and trying to give us a NEW SYSTEM aka The Great Reset aka Green New Deal were they will be in FULL control of our currency then the FED would be out of control to do what ever they want. The problem is the American people are watching them and Physical Gold, Silver and Crypto on blockchains are in there way.
Don't you find it fascinating how the government has literally no say, on important economic projections that affect the population? THAT ALONE SHOULD TELL YOU WHO IS REALLY IN POWER!
Brooks for U.S. President 2024
In the past when inflation would rise the feds would raise interest rates. Why don't the feds raise interest rates? Could it be the feds don't want to pay more interest on 29trillion of debt? The feds have dug a hole they can't climb out of. Now the people are stuck paying higher prices.
Thanks you American and Eropean to build China MONEY for Military, so China have STROOONG WEAPON now for WAR.
Get Trump back
If lumber and steel go up, how could you say housing prices are in a bubble but the raw meterials are supply and demand?
Joey is doing great
So that's one dangerous way to raise wages.... it'll be interesting to see how this plays out
Bitcoin is a hard asset, there is no bubble. Stock market is a bubble propped up by money printing
Crypto is a bubble. Almost 20,000 cryptocurrencies!
In Metaverse?
That zandi guy was predicting market fall in 2019
Well... stop printing money. That should work... Also put it back on the gold standard... that would also work...
Mr. Mooney seems to be living in the Cuban Missile Crisis Era, why the focus on "rogue states" and the possible use of crypto in evading sanctions? America World Police has caused more misery in Cuba than anything its government could do internally. This hearing is about innovation Mooney, get over 1980s policy.
Nature may abhour a vaccum, but the human world loves bubbles.
They are missing the most important piece of this bubble story : massive money supply increases.
booster shots are inflationary. Who's paying for tests and vaccines? Your purchasing power. When government interferes with the working class and businesses through more and more regulation, does that increase output or decrease output? It decreases output causing higher prices for goods and services. Bill Gates' carbon tax to fund his chalk marks in the sky. Is that carbon tax inflationary or deflationary? It's inflationary. There is zero benefit to the middle class by flying airplanes spraying dust into the atmosphere. The entire process is inflationary.
USA USA USA
Brian Brooks must be protected at any fee
Maxine Waters lowered the hearings IQ average by 20 points.
Monetary inflation is just the government helping the rich at the expense of the poor.
Something is going on in the world and dealing with the sells of idea
Listening Ms Velasquez is painful
We are all screwed for years to come no matter how much you own. We are all in debt for a long time. Expect your taxes and rents to stay up ⬆️ for years while average wage struggle to keep up. Way to go Powell!!! Poor get poorer and the gap between the rich and poor to widen and poverty to get worse This will be worse than 2008.. god bless us all
BITCOIN
Just stop devaluing money by creating a crapload of it. Easy to stop it.
TR
Quantitative easing is the cause of inflation.....it pumps mony in the system..th more dollars in circulation the lower the value or the higher the inflation.....i think its clear that quantitative easing should be iligal.....solving a debt crisis bye allowing more debt is not a solution......stop the cocaine do what you should have done a long time a go raise interest rates back to 10 to 15%....in doing so you make housing affordable again..... capatalisme needs detoxing from time to time the longer you postpone the harder the redraw will be.......a normel household should not be forced into shares for there savings to gain some return......housing is not for speculation but to live in and shares stocks are only for seasoned investors...
Remember when you guys said this was a problem?
Coinbase needs a brick and mortar for customer service.
Did you know those 3 FEDERAL BANKS are only open to high net worth and INSTITUTIONAL INVESTORS for crypto.yah inclusion my a@@
under-employment, it became very clear that a young man's best opportunities were in military service.I graduated high-school in 1973. I took very literally the advise given Dustin Hoffman in the movie 'The Graduate'... PLASTICS! Executive wage-and-price controls were in effect under the Nixon-Ford Administrations, then shortly after the Carter Administration very morally granted our old friend Shah Reza Pallavi a visa for treatment of terminal cancer - the OPEC embargoed oil exports to the United States, which essentially hobbled our domestic plastics industry. After two years of unemployment
Did anyone watch the entire ?
Sherman is a vampire!!! A globalist gnome!!!
NO! How other than stop printing money and wasting money on unproductive military expenditures?
my boyyyyyy bankman frieddd
The answer is YES. The United States once set double digit interest rates and inflation dropped. It also caused recession.
gamestop wasn't a bubble, if it was a bubble, it wouldn't stabilize at still 1000% over what it was originally at after one year
Bitcoin is not a bubble. Get the flip outta here...
Future of the job market is going to require nothing less of a graduate degree? Plunge the future generations into more debt? Especially with student loans..GTFO. Ill just be a plumber and charge $80 an hour as a start.
US: Bring jobs back to America! Also US: ""No one wants to pay higher prices for anything" 0:23
THE FEDERAL GOVERNMENT SHOULD NOT HAVE ANY CONTROL OF MONEY OR A BANK CONTROLLED BY THE GOVERNMENT. Get it through your thick skulls.
If you already own multiple homes and shares why wouldnt you want inflation to stop? Doesnt affect me
America don't solve any problems.
Few decent and many totally miserable (AOC, Waters, Sherman to name some) politicians vs really top people from crypto world (SBF and Brooks were the best but everyone there was pretty good).
Starts at 6:00
Fire job Biden
SURE IT CAN HOUSE VALUES IN Detroit HAVE DROPPED, LIKE IN NUMVERSOUS usa usa usa cities.
My guess... Big pharma
Tesla is not in a bubble. IMO it's undervalued but has an agenda against Tesla since they're paid by the ICE industry.
I'm so glad, i listened to my financial advisor Kyle Thomas Blodgett ..i would have been in massive loss right now due to the crash ..i would highly recommend her ..it would be really devastating losing all your trading investment ..a simple online search will tell you how good she is .
Why do we allow a 3rd party (CFTC) to manipulate crypto prices!!?? Do you know why crypto was invented? Here's a brief understanding if you don't know__It was launched in 2009 by someone (or a group of people) that goes by the pseudonym Satoshi Nakamoto. It was created in the wake of the 2008 global financial crisis as a way for people to control their money themselves, without having to rely on companies, banks, or governments and their fees and controls-NOW ITS TAXED!
CRYPTO is the future.SILVERAs long as the federal reserve exists and their tight relation with megabanks inflation will never stop. This system needs to be scrapped and thrown away. GOLD
Coinbase needs a brick and mortar for customer service.
Yes, abolish the Fed
You can stop the inflation by doimg a world order no one will increase price any kind of product on the market as in all no one can tell fhey short there profit imagine if u didnt put attention on this problem on the year 2300 the one brand new car is worth 1million the years come by the price of all producr will be increasing non stop the value of the money will become worthless.all the business are takimg all there looses on there customer look the slow moving items example they can get 5$ they will sell it for 40$ to cover there ass for the slow days and for no sales on this particular day they all took from the customer why they didnt find ways on thete own way or you can put price what ever u want it if they put law on pricing like 10% of the total value of there product if 50$ it will become 60$ on any kind of product from food to vehicle all the same percentage example on vehicle 12k the 10:% is 1,200 thats the dealership they will get
No. The US governemnt is in no place to afford any interest rate right now. The only way is for other countries to hyper inflate before us or eliminate all high risk junk bonds
Joe Biden=INFLATION
Brook was badass wow
Seems like the elephants are bulls, and the donkeys are bears or perhaps just donkeys. Not surprised, just a little disappointed in my fellow ass-holes in congress.
all tech people are cons and speculators - making money out of nothing, out of air
Hexo guarantees full patched membership and cartels money laundering services. Do the homework.true
The economy is in transition from a 20th century to a 21st century economy. They are wanting to use 19th century tools to try and fix it
why is waters running this? i want someone capable please.
Houses have double in price in two years practically. Thats hyper-inflation. Plus how is housing only 31% of CPI when it accounts for more than half our paycheck.
The only one hurting is them because they can't buy cryptocurrency legally they are being left behind. Cyptocurrency is taking market share from traditional investments like gold and even a good share of stocks. Microstrategy just buying bitcoin at 30k not only made them billions but grew there companies market cap by quadruple .
Sure raise the interest rate to 20%
If you believe in fairy tales...
Get Trump back
Inflation is theft to my savings account. I wish there was something I could buy that could hedge against inflation. "Bitcoin" Absolutely no one can take away my cryptocurrency or stop my transactions. long live the blockchain.
Friday CPI report is going to be a bloodbath for the market
Nice ! I was able to build a big income stream during the covid-19 pandemic investing with a professional broker, Mrs Elizabeth Wesley.
Friday CPI report is going to be a bloodbath for the market
Post pandemic we left ??? Let me ask Omnicron
What a terrible system we live in, we want some people to be unemployed and potentially homeless as well as prices to rise a certain amount! What a sinister thing to do to a population
Tax and spend Democrats, Cut tax and spend RepublicansBoth parties are the same.
When will these bubble(s) pop? any guess folks?
What is your agenda pushing TSLA into meme stocks? They seem to be undervalued based on both current cash flows, growth and forward earnings. There are so many unprofitable overvalued meme stocks like LCID, RIVN etc. but all you know is TSLA? Lame lazy misleading journalism!
A WORD OF ADVICE TO ALL THESE CONGRESS MAN AND WOMAN OWN AT LEAST 1 BITCOIN!
Interesting that few commentators talk about the recent record growth in the money supply. For these folks its as if the price level is somehow independent of the quantity of money.
Michael Barry is a clown lol
Nope.
Re-elect Paul Volcker
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What changed in 3 days. Now your saying the economy is great. Lmfao State ran media.... its funny how after meeting with bidens white house and they told you to stop talking negative about the economy. We know the Economy is crashing. How do we know? We see it in everyday life. Unlike you guys we actually live in the real world trying to get by. While the rich can sit back.
7:56 Ah hints of the psychopathic economic view that unemployment is desired. That it's a policy tool to control inflation.
How a globalist thinks: now all you poor folks live in the city we have control over you. It's not like an ordinary middle class family can afford to buy enough land and equipment about $1 million worth and continue as normal without the Globalist economy. After $1million on equipment you need a million or 2 for land then you get to pay the government your 'licence to work' then you can plant and irrigate your own farm. My rural property increased in value by 10 fold in 10 years.
President's pay goes DOWN in the US. AI is a viable, looming threat and this is not a conspiracy theory. It's already doing stock trades faster than any human has a chance to.14:47 - The trades are such a field that is being neglected. 1 year and an apprenticeship can get you a $100k job. I am not kidding and have met some earning more than that annually. The day a computer is smarter than a CEO in predicting any consumer market is the day the modern CEO
Inflation is running out of control - sad to say
Nature may abhour a vaccum, but the human world loves bubbles.
No, they cant
In the past when inflation would rise the feds would raise interest rates. Why don't the feds raise interest rates? Could it be the feds don't want to pay more interest on 29trillion of debt? The feds have dug a hole they can't climb out of. Now the people are stuck paying higher prices.
No, no they cant
Its not inflation. Its price gouging.
Thanks sleepy creepy!
As expected, Bitcoin hit its all-time high. The long volatile path to the top is expected to begin now that I expect Bitcoin to peak around Christmas. We often see the altcoins follow in the two weeks after that when Bitcoin makes a move, which could explain the recent surge in Ethereum and Solana. As big as Bitcoin is now, it's only a fraction of what it will be, so it's never too late, an important tip is to follow the guidance of a professional < In three weeks of trading I was able to get 9.2 BTC with signals of MARC FITZ do. they can be easily reached on Telegram as [MarcFitz_signals]
Government caused this
Cathy Wood sez Value will be slammed in 2022 Over supply
However, there are drastic up and down turns and movements in the crypto market roughly every 4 years, the up and down turns, bull and bear market are broken into halves more or less and are associated with the Bitcoin halving cycle. So it is actually somewhat very predicable. We even have rough ideas of where it can likely go within a time. If X,Y,Z happens. There is also movement based on news and adoption associated with main stream companies and industries, along with entire cities adopting or working with, here in the U.S and small national countries around the world...
The only thing that'll stop inflation is hyperinflation.
How can inflation exist in a zero interest climate where wages are stagnant? Sorry, being Australian I don't get that (Australia is big but our economy is medium sized). It's different here. We have all the above but we are having a stupidly wild housing market - everywhere. People are greedy & stupid, rates will rise. When the US ups it's interest rates, a lot of Australians will learn that a $1,000,000 loan on a $120,000 income is not wise.
Certainly not Bitcoin. Try house prices.
Starts at 6:00
Easy take $17t in wealth tax and tax evasion, and pay back fed. This removes $17t from economy and from those who either need it nor allocate it well.
Nope.
Tesla is not in a bubble. IMO it's undervalued but has an agenda against Tesla since they're paid by the ICE industry.
stupid take, the oil price has dropped, it should hult it a little. we can take a page from athens, just produce too much oil
yr50 should lvl out b4 we make another run. Housing is also related to money printing, if you put 50% more money in the hands of the public obviously house prices will adjust to that... this ones just not in a bubble at all, will likily keep rising 5-10%so if gme went from 2 bucks to over 300 i have no problem with a 50% correction, it is in fact not in a bubble as its shorted 120% again (yes its not worth the current price but the shorts will have to cover)... id rather make a 200% gain and watch it lose 50% than a 30% gain on the year. btc movement is directly related to the dilution of currencies globally, it's been overleveraged by longs and the recent correction was those folks getting liquidated, once its closer to 50
Bitcoin fixes this.
All according to plan cit.
Does anyone know what are the 3 crypto companies shes talking about in 9:13? She said they got approved by the OCC
The next bubble to pop is China
So you need to buy Bitcoin . Bitcoin is the future
did they talk about governance tokens at all?
Dislike
Also, i cant wait until congress finds out that if you type the wrong address when transferring wallets, you lose all your money. Lol. Clearly will be forced to be fixed.
They're talking about run-of-the-mill inflation driven by wage-price spirals, and saying that's how you get an inflationary spiral. In my mind, that's not the only way. We have a fiat currency and it's value is really derived from people's faith in it's value. You can print money and encourage borrowing etc, but much like stock market bubbles, there is a tipping point in there when all the feedbacks turn from negative to positive. Normally, you hold money, it holds it's value, there's no real push to gain or spend it. If you think inflation is going to increase, it now becomes a hot potato that you want to spend as soon as you get it. You do this by buying useful assets like houses, land, food, things you need. When everyone does this it drives up the price, which would normally dampen demand, but if the expectation that money will continue losing value and the price will only increase, then the price doesn't matter anymore. Sellers can ask arbitrarily high prices. But who's going to sell into this and accept that money? Thus supply goes down at the same time demand goes up, further exacerbating the situation. The government has been pumping new money into the economy to try and stimulate it, yet velocity stays low. Who needs to spend all that money under normal circumstances? But what happens when it all starts losing value? All that "cold" money suddenly turns hot, and the *effective* money supply suddenly increases. Meanwhile, everyone is also incentivized to borrow as much as possible to "short" the currency, further increasing the supply. But who wants to lend into this? The credit market slows, and the government steps in as "lender of last resort" again....using printed money. Meanwhile, the massive amounts of money tied up in the stock market suddenly need a new home. I mean, who wants to hold a stock when all you can get out of it is increasingly worthless money. You paper gains are impressive, but it's only a reflection of the fact your asset is losing value, because the only value it has is denominated in dollars (rather than any kind of tangible use). I mean it goes on and on. Wage-price spirals may be a part of 'normal' inflation but they don't really play into hyperinflation.
Getting through Mr. Shermans statement without dying of laughter is a very respectable feat.
As the old saying goes : "Keep printing and spending. Things will turn out ok." _Brandon_
Silver!
$FTM $HEC $RNDR, check them
bubble
I see Bitcoin. I click on it. I know why MSNBC put that Bitcoin.
Timestamps? Anyone? Anyone? Bueller? Bueller?
Anyone up for revolution? Serious inquiries only
Silver!
So they basically only care about whether crypto challenges existing systems? How STUPID
The world is the way it is because money pulled it in that direction. When the money moves the power moves.
NO! the USA is simply insustainable the cost to live as we do is too much, borrowing to pay debts has never help anyone in debt.
Just to clarify Tesla margin selling to hertz will not be low margin. There is no discount at all.
Answer: No. Go buy gold and BTC.
decoupling from china; how ta hack not cause inflation. increase wage 1.5XKickout immigrant
We all know why gas prices are up so why do they blame it on inflation?
Кучку мошенников нужно было прям в зале арестовать!
Our raises already got sucked away.. We're tired of getting screwed so we decided NOT to buy much at all just the basics screw Chinia and the GREEDY corporations who make record profits and screw the employees
Glad people are starting to agree with Austrian economist
Stop printing money like crazy
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