I keep hearing people complain that the ‘mainstream media’ does not understand economics and that we’re talked down to as if everything must be explained as if the economy is a household. In this thread I explain all you (and they) need to know. Economics in one thread then....

Very few people seem to understand how money is created. Mainly that’s because when they’re told it seems so simple that they can’t believe something that’s so important that we’re willing to pay a lot to get it is created so easily. This thread explains how money is created.

What this thread also explains is that if we understand money we can completely reimagine how the economy really works, which is the pathway to rebuilding from the mess we are in. Which makes this a pretty big deal. I make no apology for its length as a result.

Let’s start at the very beginning. A person goes into a bank and asks for a £1,000 loan. The bank checks them out, and agrees. And that is all that it takes to create new money. Money is just a promise to pay. That simple exchange of promises is all it takes to create it.

Most people think there must be something that backs up the value of money. Gold, most likely. But there isn’t. Money is just a promise to pay, and has been for almost 50 years now. Mutual promises to pay creates all the money we have.

Zurich axioms - A book on Risk taking, by Max Gunther

@safiranand @jposhaughnessy @Vivek_Investor @BalakrishnanR @Covel @shyamsek @_anshulkhare

#investing
#Bookthread 👇🧵

Switzerland, a country with no strategic or geographical advantage, became the world’s banker by learning how to manage risk and facing it head on.

Zurich axioms are simple rules in order to learn about betting to win.

The First Major Axiom:
ON RISK

- Life is an adventure. In order to experience life to its full potential one has to take meaningful risk.. All Investments are speculation. Some people accept it. some don’t.
Always play for meaningful stakes.

- An investment with a small stake would not incur significant loss but will not generate any significant gain too. It should also not be so huge that loss would bankrupt a person.

- Resist the allure of diversification. The more one diversifies, the smaller the speculation gets. Through diversification all the losses and gains are likely to cancel out and no sizable difference is made.

From the Beginning.
Re-Read.

#Turkish traditional food 🇹🇷 😍⬇️

THREAD
1. Anyone who thinks English exceptionalism, nationalism and ‘regulatory realignment’ - the root drivers of Brexit - would have ended with a ‘soft brexit’ ie a customs union or a Norwegian style deal, misunderstands what brexit has always been about.

2. ‘No-deal’ has always been the logical goal for those who’ve driven the brexit agenda. The question @UKLabour should be asking the govt is, ‘what part of the ‘level playing field’ do you want to change? Food standards? Env protections? Workers rights?

3. The issue of fish, whilst playing to worst instincts of territorial jingoism is, excuse the pun, a red herring. This is about phase 2 of the neoliberal project. Building on the gains of the last 40 years.

4. The reality for those who want to challenge this grim trajectory is to understand phase 2 will be about hollowing out what’s left of our democracy as @FisherAndrew79 eloquently argues

5. The crisis of democracy, which brexit is but the latest manifestation, is what we must mobilise against. So many other issues are but symptoms of this underlying malaise.

A THREAD BY @Armyvetgrl1 Important read!!!
Mark Zuckerberg has been giving major Donations to Oregon for a long time. This is just one example:
From October of this

Is the Farmers Protest a bigger conspiracy than Shaheen Bagh?

I hope till now you all have read enough about these Protests, so it's almost clear now that these r not the 'Farmers Protest'.
So let's connect the dots that how these Protests can benefit China or Pakistan.
[THREAD]

China knows that they can't win in a hand to hand war as PLA stands nowhere in front of Indian Army in mountain warfare in such weather conditions. But China is infamous for it's pseudo warfare.
Recently we get to know that the operation Indian Army did in Sept to occupy...

...hills like Black Top in Ladakh was originally planned in May but we get to know about it now. Diplomatic Talks were just a game. Similarly it's possible that Indian Army maybe planning to do an operation on LAC as it's winter & we have an upper hand on China. But...

How China will counter it?
China must be aware of it & to make it difficult for the India they needed to create unrest in India.
But How?
Farms Bill were passed in Sept but what happened after 2 months now that these Protests got so big?
Same like Shaheen Bagh?
China's leftist..

... agents saw that some Farmers are Protesting and they got a reason to create nuisance. They hijacked the Protests and as usual by Pakistan's Support they got backing using Khalistani Propoganda as that's the only thing where Pak still has strong hold. They started to...

HOW TO MAKE MONEY SELLING PUTS

The low-risk method for turning limit orders into cash.

It doesn't take a genius to know that the stock market is overvalued.

Airbnb shares hit the market today and doubled right away. This in a time when half the planet is shut down and many people are scared to travel.

Of course, that's just one example. There are plenty more companies with impaired fundamentals now trading at or near al-time highs.

It is very hard to find a bargain anywhere, similar to June / July where everything popped, only to tank in value by September.

This means you have three options:

1) Sit in cash.

2) Buy now, expecting both a future drop and recovery.

3) Sell puts , treating them like limit orders and collecting cash while you wait for share prices to fall.

We'll focus on number three.

Also, quick disclaimer: I'm obviously no financial expert and this thread is purely for entertainment purposes only.

Anyway, back to the main content.

NEW: For more than 10 years, Scarborough residents have been promised improved transit — including a subway. But nothing has been done. Has Scarborough been taken for a ride https://t.co/Q3VP5lxK6w /1

With news the Scarborough RT will fail before anything is built, leaving transit users on the bus, possibly for years, I compiled everything I know about the decisions that led us here, for the first time in chronological order. This will be a long thread. /2

December 2010: During his first day in office, Rob Ford declares David Miller's Transit City LRT plan is dead (Spoiler: It's not). /3

March 2011: But it doesn't happen like that. Ford signs a memorandum of understanding with Metrolinx to kill the Finch & Sheppard LRTs and completely bury the Eglinton Crosstown without council's approval. The original seven-top Scarborough LRT is part of this non-binding deal /4

February 2012: In a major defeat, council rebukes this transit arrangement that requires their approval and votes to build the Transit City lines, including the Scarborough LRT. Ford’s TTC chair Karen Stintz leads the revolt. /5

1/11
This week, over half the Republican Congress signed on to a Texas lawsuit asking the Supreme Court to invalidate millions of votes in 4 battleground states, despite having ZERO evidence of voter fraud. This is shocking but, sadly, not the least bit surprising. #velshi

2/11
Last night, the Supreme Court—including all 3 of Donald Trump’s appointees—rejected Texas’ case to overturn the election results. But one wonders whether it would have been more useful for the court to have heard it and then decided against it. #velshi

3/11
Trump’s tactics may not have worked in the ACTUAL courts, but a poll out this week indicated that 77% of Republicans believe there was fraud in this election. While most of that misinformation comes from Donald Trump himself—he’s the spark—the fuel is all around us. #velshi

4/11
Months ago, I warned that congressional candidates who hold dangerous fringe views could potentially get elected. They did, and I thought that was going to be our biggest problem moving forward: candidates whipping up conspiracies on the campaign trail. #velshi

5/11
I failed at the time to recognize that the dangers are far greater. Since Nov 3, elected members of the GOP and their constituents have pushed actual lies in favor of overturning the election and the will of the people who voted Biden in and Trump out. #velshi

Chinese troops on U.S. soil?

Chinese troops on Canadian and Mexican/S. American soil?

Underground tunnels facilitate movement between the three?

This is a thread to follow up. I won't have enough time to do all the research necessary in one shot.

F-16 Crash Tuesday night (12/8/2020) and speculation about whether "50,000 Chinese troops were killed." Further research links on this

So the SCOTUS said no. They won't hear the case. Cue crazy leftists and their inane celebrations. You're probably pissed off by now because you thought the SCOTUS was going to take this case. Trump never needed them to begin with. This is an easy one to explain.................

When it comes to elections there is no HIGHER or FINAL authority than the state legislatures. No, not even the Supreme Court has the final say in this, believe it or not. Trump knew this case would get thrown out..because Texas filing was weak.

Their argument was REALLY weak, so weak that both of the Levin's would have told Trump days ago that this case wasn't going to get heard.

In fact...Mark Levin DID say it wasn't going to get heard on his radio show...all week long and he was right.

Justice Alito was right in his decision. He argued that the state of Texas wasn't, in so many words, as serious about a resolution as they pretended to be. He said there weren't "interested" in real resolution...and he was right.

He stated that just as in Arizona vs California 589 U.S. where they disputed over the distribution over the water from the colorado river, the actions of what state cannot disenfranchise the actions of another.

One year on: 9 things you need to know about the 2019 General Election

1. The Conservatives won a big majority… despite only increasing their vote share by 1.3% on 2017

2. Smaller parties got crushed – as usual. Nearly 900,000 votes for the Green Party across the UK equated to exactly one Green MP.

In contrast, it took just 25,000 or so votes to elect an SNP MP (thankfully, both parties back proportional representation!)

3. The ERS predicted with 100% accuracy the result in the majority (56%) of England’s seats – 300 of them – before polling day

For the 16 million-plus voters in these seats, it may have felt like there was barely an election happening at all

4. Around 14.5 million voters are unrepresented across the UK (they didn’t pick the one winner in each seat)

That’s a marked contrast to proportional representation, where we'd end one-party-takes-all results at last