30th November 2024 > > Money-printing & Russia.

tl;dr

One of the world’s oldest universities proves its humour, and by doing so, it reinforces its rejection of woke. The money printer is working overtime. Startled by the suddenness and speed of the Chinese pro-crypto pivot, Russia feels compelled to follow.

Market Snap

Market Wrap

That wall of offers between $98.5k & $99.5k will keep us marooned under six figures for quite some time. Whilst we wait, a mini alt season will keep us entertained on the sidelines.

Occasional Series – You cannot beat a bit of good old-fashioned English satire

It’s the option to report “a near miss” which gives the game away.

Those who are not so attentive to the small print might have thought that the University of Cambridge was being serious with this ‘elf & safety poster. As if. The particularly poor design and the lazy layout is also clearly deliberate. After all, one has to work very hard to make it look quite that amateurish.

Good work by the humour department. I do look forward to the next one.

Curious Cryptos’ Commentary – Money printing

Resident techie Larry supplies indisputable proof that the money-printing presses are in full-on mode:

Money printer goes brrrrr, hard assets go up.

Curious Cryptos’ Commentary – That Russian ban

A new crypto-friendly bill has received the blessing of Duma and the Federation Council. Now it awaits the signature of Putin before passing into law.

This legislation recognises the legitimacy of personal ownership of cryptos and imposes taxes of 13% - 15% on profits received from selling cryptos into fiat. It is a very sad state of affairs when a country like Russia has less restrictive policies than the UK. There might be a lesson in that for our politicians to take note of.

But that is not all.

The bill also recognises mining as a legal commercial activity, and excludes the production of coins from the VAT regime. This is all so different from not so long ago, when countries like China and Russia were trying to “ban” cryptos, a futile and ultimately pointless task, as the CCC kept on telling anyone who would listen. Every attempted ban resulted in a fabulous dip-buying opportunity. I am pleased you all took advantage of them.

The competition between countries to attract crypto business is getting fiercer by the day.