a cool (brr) dude

  • 90 Posts
Joined 1Y ago
Cake day: May 14, 2020


What is going on here?

Love pieces like this that pretend that the pandemic single handedly is upheaving the lives of the poor and that the innocent political economic system has nothing to do with it.

I went to an info session for the procedure of becoming a cop with a friend in Toronto and while the lecturers stressed on the fact that most of the work is civil in nature, it was really disturbing how many people had firearm related queries (several people asked if precious experiences with firearms will increase their chance of recruitment). People of the awful kind are.attracted to capitalist police forces.

But this guy is something else. Wtf. And he talks about it like he is the main character of a movie or something lol.

Are there any Mao quotes about landlords? I have seen many quotes from him but never one about landlords which is slightly strange because of the memes.

It’s not race realist shit to say a lot of …

Correct. Well done. That’s just racist.

Don’t be afraid. News piracy will become a thing if this shit becomes a trend.

I don’t feel bad using gendered terms like policeman. There are fascist women in police forces around the world but they constitute an insignificant number and things like police forces are run almost exclusively by men.

Feels very strange seeing people outside in close proximity.

Here in my city, cases are growing exponentially but people are hanging out as usual. I had a cold (tested negative for COVID but tests can be false negatives so who knows) which resurfaced my asthma so it made me realise my mortality. Used to think that I wouldn’t die if I contracted COVID since I am fit but am not so sure about that anymore lol

Biden Team Eyes Potential Threat From China’s Digital Yuan

By Saleha Mohsin

12 April 2021, 3:30 am IST

Updated on 12 April 2021, 5:22 pm IST

  • Officials want to understand implications of China’s efforts
  • Yuan makes up just a fraction of forex compared to dollar

U.S. Steps Up Scrutiny of Digital Yuan WATCH: The U.S. has stepped up scrutiny of China’s digital yuan.

Sign up for Next China, a weekly email on where the nation stands now and where it’s going next.

The Biden administration is stepping up scrutiny of China’s plans for a digital yuan, with some officials concerned the move could kick off a long-term bid to topple the dollar as the world’s dominant reserve currency, according to people familiar with the matter.

Now that China’s digital-currency efforts are gathering momentum, officials at the Treasury, State Department, Pentagon and National Security Council are bolstering their efforts to understand the potential implications, the people said.

American officials are less worried about an immediate challenge to the current structure of the global financial system, but are eager to understand how the digital yuan will be distributed, and whether it could also be used to work around U.S. sanctions, the people said on the condition of anonymity.

A Treasury spokeswoman declined to comment. A National Security Council spokeswoman did not reply to a request for comment.

The People’s Bank of China has rolled out trial issuance of a digital yuan in cities across the country, putting it on track to be the first major central bank to issue a virtual currency. A broader roll-out is expected for the Winter Olympics in Beijing next February, giving the effort international exposure.

Many key details of the digital yuan are still in flux, including specifics on how it would be distributed. China’s recent establishment of a joint venture with SWIFT, the messaging nexus through which most cross-border settlements pass through today, suggests it is possible a digital yuan could work within the current financial architecture rather than outside of it.

U.S. officials are reassured that China’s intentions aren’t to use the digital yuan to evade American sanctions, according to people familiar with the matter. The dollar’s current dominance in cross-border transactions gives the U.S. Treasury the power to cut off much of a business or even a country’s access to the global financial system. The latest in global politics Get insight from reporters around the world in the Balance of Power newsletter. Email Bloomberg may send me offers and promotions. By submitting my information, I agree to the Privacy Policy and Terms of Service.

China’s officials have said the main intentions of the digital yuan are to replace banknotes and coins, to reduce the incentive to use cryptocurrencies and to complement the current private-sector run electronic payments system – dominated by Ant Group Co.’s Alipay and Tencent Holdings Ltd.’s WeChat Pay. The PBOC has been working for years on the digital yuan, also called the e-CNY, having set up a specialist research team in 2014. China Trials Digital Yuan

Signage for the digital yuan, or E-CNY, at self check-out counter at supermarket in Shenzhen, China, Nov. 20, 2020.

Photographer: Yan Cong/Bloomberg

Here’s How a Central Bank Digital Currency Could Work: Chart

​​“To provide a backup or redundancy for the retail payment system, the central bank has to step up” and provide digital-currency services, Mu Changchun, the director of the PBOC’s digital-currency research institute, said at an event last month.

Beyond seeking a backup to privately run e-payments, Chinese regulators have more broadly been expanding their oversight of the country’s digital champions. Ant Group was told by Beijing to become a financial holding company, which will be regulated more like a bank. China also imposed a $2.8 billion antitrust fine on Ant’s affiliate Alibaba Group Holding Ltd.

Read More: Ant to Be Financial Holding Firm in Overhaul Forced by China

The PBOC is also examining the potential for using the digital yuan in cross-border payments, launching a project studying the issue with a unit of the Bank for International Settlements along with the United Arab Emirates, Thailand and Hong Kong’s monetary authority.

The Biden administration isn’t currently planning to take any action to counter longer-term threats from China’s digital currency, the people familiar with the discussions said. However, China’s plans have given renewed impetus to efforts to consider the creation of a digital dollar, they said.

Members of Congress have also been increasingly interested in a digital dollar, aware of China’s moves, and asked Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen about the issue in hearings earlier this year.

Powell: Need for Digital Dollar Is an Issue for Congress, Public

Powell said in February the Fed was looking “very carefully” at a digital dollar. “We don’t need to be the first. We need to get it right.”

Yellen has signaled interest in research into the viability of a digital dollar, a shift from a lack of enthusiasm under her predecessor, Steven Mnuchin. Yuan barely registers in global transactions

“It makes sense for central banks to be looking at” issuing sovereign digital currencies, she said at a virtual conference in February. Yellen said a digital version of the dollar could help address hurdles to financial inclusion in the U.S. among low-income households.

A recent report from the U.S. Director of National Intelligence said the extent of the threat of any foreign digital currency to the dollar’s centrality in the global financial system “will depend on the regulatory rules that are established.”

China’s currency makes up little more than 2% of global foreign exchange reserves compared with nearly 60% for the U.S. dollar. Policy decisions, rather than technical developments, will also be necessary to push forward yuan internationalization, as China maintains a strict regime of capital controls.

China’s financial system is too “fragile and weak” to pose a real threat to the dollar’s status as the world’s reserve currency, according to Mark Sobel, U.S. chairman for the Official Monetary and Financial Institutions Forum.

“At the end of the the day the markets have more confidence in the Fed” than China’s central bank, said Sobel, a former senior U.S. Treasury official for international matters.

Yeah you’re correct. I wasn’t precise at all when I said “people” so that’s my bad.

Everything is unjustifiable violence unless you’re a cop who shoots a black man then it’s an accident

I feel people have been completely housebroken into respecting IP laws as a word of god. This guy who made his billions by abusing IP laws and forming monopolies is one of the few people shaping international vaccine policy and everyone seems to be okay with it.

Ivory Coast is not extraditing him so it seems unlikely he will face punishment.

That said I wonder what the political climate is like in Burkina Faso these days.

Parents use something like this for toddlers to help them learn how to walk

I wonder what it would take to win this. Seems extremely difficult because Amazon has free reign under the dictatorship of capital for spreading hysteria and misinformation using their capital and army of corporate employees.

From what I read the organizers worked very hard but the margin of the loss is still massive.

With the current state of capitalist countries, the “normal” is to let underdeveloped regions writhe in poverty so that they provide cheap labour to urban centres. I can’t think of any development that is taking place in India. All there is are token projects in urban regions like constructing a metro/subway line so that the ruling party can claim credit for it. In the US rural areas are being deserted.

These clowns cannot comprehend what development looks like.

Apparently digital RMB is being pushed because of Alipay and WeChat Pay dominating cashless transactions. So they at least have a plan of action.

Yeah these are all great points.

What I hate about talking with bots the most is that there is a distinct lack of critical thinking. Any arguments are refuted by:

  • Your post history is defending China
  • This source is Chinese state media

The guy who owned me by linking this news article about a Zenz research explicitly said “don’t say it’s because of development. in any normal country it would take about ten years for this to take effect.” I stopped wasting my time with them because they pejoratively called me tankie multiple times so it looked like brainworms had completely taken hold of their consciousness.

One thing I wanted to show is that even with presumptions this article makes, even taking into account its own numbers in vacuum, they don’'t hold any water.

Made the mistake of engaging with an anti China robot on an Indian left subreddit. When I asked for evidence for genocide they gave me this AP News article as proof of genocide. I wanted to discuss this article because it has the veneer of being scientific because it uses graphs so people jump on th…

IMO people like him are only good for shitting on USA and western capitalism. When it comes to answers to the questions posed by capitalist contradictions you get nothing.

Sharing this because I assume most people are unaware of far-right Indian subreddits (not that I think one should know about them) so it would be slightly interesting. …



Why do politicians in the USA oppose the $2000 stimulus?

On a reddit comment I saw some Republican apologia (they don’t think direct cash payment is the best way to stimulate the economy, it’s because of the deficit) so I got thinking and realised I don’t have concrete knowledge of why they oppose it. Is it because it will squeeze money out of handouts th…

It's here!

An Overview of the Farmers' Protests in India

This article has a good class-based analysis of the peasant agitation against the proposed farm bills. I recommend reading it in its entirety but I will copy…

Canada's deputy PM is at best a Nazi sympathiser?

Found these two comments on /r/communism: …


What was China's diplomatic status like before embracing Deng's policies?

In a conversation with Morrin, Hakim (both youtubers) said China was diplomatically isolated at that point. By the west because the Mao era, and I know that their relations with immediate neighbours aren’t the best right now. Can someone tell more about this?..


Looking for a video of a USAmerican CIA/military dude saying something about Xinjiang.

It’s a video that I saw on Twitter that I forgot to save. It’s old, from before the Uyghur genocide propaganda flooded the airwaves. It’s some American military person saying something about why Xinjiang was an area of interest. …