THREAD: What is Golden Crescent and Golden Triangle and how it impacts India?
Golden Crescent region of South Asia - comprises of Afghanistan, Iran, and Pakistan - which is a principal global site for opium production and distribution.
- Its proximity to Indo-Pak border has worsened the trafficking of hashish and heroin into Indian soil
- Trafficking happens through the border states of J&K, Punjab, Rajasthan and Gujarat.
- Myanmar-Northeast nexus is recognized by NCB as the root of heroin & chemical drugs
- Myanmar produces 80% of heroin produced in world
- Due to increased surveillance & frequent crackdowns on cartels in various part of SE Asian countries, India has been chosen by drug smugglers as the exit gateway
- Diverse topography, high mountains, rivers, dense rainforests provides numerous hideouts to the smugglers, and security forces cannot respond to criminal
- Also, rising nexus between the local ethnic insurgent groups & criminals across the border have developed into a potent threat of narco-terrorism that challenges India’s national security.
Narco-terrorism has not only developed a social security threat for India, but also dragged attentions of global communities, since trade happens in hard cash, & it becomes very difficult for security agencies
- Influx of narco-trade money leads to laundering, inflation, corruption, which not only causes terr0rism, political instability but also deter FDI.
- Assam CM @himantabiswa drove a road roller on 1000s of bottles of illegal cough syrups. The CM also set fire to seized drugs worth crores in an event.
- About 2.8% of Indians aged 10-75 years (3.1 crore individuals) are current users of any cannabis product, which is predominantly men.
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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
Krugman is, of course, right about this. BUT, note that universities can do a lot to revitalize declining and rural regions.
See this thing that @lymanstoneky wrote:
And see this thing that I wrote:
And see this book that @JamesFallows wrote:
And see this other thing that I wrote:
One thing I've been noticing about responses to today's column is that many people still don't get how strong the forces behind regional divergence are, and how hard to reverse 1/ https://t.co/Ft2aH1NcQt
— Paul Krugman (@paulkrugman) November 20, 2018
See this thing that @lymanstoneky wrote:
And see this thing that I wrote:
And see this book that @JamesFallows wrote:
And see this other thing that I wrote: