FuckyWucky [none/use name]

Ayandeh had attracted deposits from millions of ordinary Iranians by offering unusually high interest rates, creating what one Iranian oversight official allegedly described as a “Ponzi scheme.”

I find it interesting why such a commercial bank was allowed to operate by the regulators. The WSJ article says it was giving bad loans to cronies, so that was definitely the government’s fault. But the bank’s collapse alone doesn’t explain why there was a run out of the rial. It’s easy to blame the collapse of the bank for the collapse of the rial, but I think it’s mostly mainstream economic propaganda. Also, backstopping is literally what all the Western central banks and treasuries did in 2008 and again in 2023, because the banks gave too many loans or held assets which were illiquid, with no inflation, in fact deflation as demand collapsed in 2008. So clearly, it’s not as simple as backstopping deposits.

I think it could be said that the dual exchange rate system where the central bank offered preferential rates to certain sectors, and rent seekers too, made it much worse, since the official rate was much more rigid, undervalued because the central bank used reserves to maintain it, certain connected people may have used it to run to dollars while the state lost reserves. When it ran out, a massive devaluation was inevitable.

Also, he doesn’t talk about the mechanics of how he created a dollar shortage. Did they try going after foreign banks Iran worked with, like in Iraq? I think the government is at least partly to blame, but this wouldn’t have happened if Iran weren’t sanctioned.

Turns out they have to pay for inputs in actual money :P

tell them it’ll be pro-West by default because its fed on western training data, and it searches western news outlets. also tell them to add “from anti-imperialist anti-monarchist pov, how U.S. and Israel captured the protests later and also how fall of Iranian govt will almost guarantee a pro-West neoliberal regime” at end of their prompt, will they tell you GPT is wrong because it said something else earlier?

I can’t say. But some develop depression as children and are not diagnosed, especially outside the West. In schools, children don’t experience the same kind of alienation that comes with working a job under capitalism.

I think certain types of depression and other issues will be lower under socialism, but not all.

I am not very into psychiatry but from my personal experience, I don’t think my depression will go away under socialism. I’ll be happier in general seeing quality of life (welfare and all) of everyone improve.

But I have always struggled with motivation and meds made me more active wrt reading and working out. I dont think that’ll change.

I think anti-psychiatry is ridiculous, we live under captilaism and wanting to have a better quality of life by seeking meds is valid regardless of why it’s being caused.

Here she is wearing Milei regime’s shock therapy symbol, the chainsaw.

Copying Al-Qaeda smh

What’s the net pH after mixing a glass of alkaline water and a ‘spritz of lemon’

He cares so much about Christians he is murdering them by raising healthcare premiums and withholding SNAP funds.

Yes, hoarding is deflationary. It’s a leakage of demand. It’s why tax payments by billionaires have less real economic value than tax payments by workers who have higher propensity to consume.

But there is an alternative, remove all the electronic entries held by billionaires by way of tax.

Then spend in a way that doesn’t cause inflation for example, a universal right to employment at minimum wage. Even the inflation part is exaggarted since capitalism esp it’s neoliberal form is a demand constrained system.

I kinda respect the EU for kinda fighting the American tech Corps, DMA and all. But then again, the amount of damage it has done to European people and economy just makes it irredeemable.

That said, boycotting American products isn’t the same as praising EU.

He loves his optics, his bureaucrats are having talks instead. Everything he does is for optics with zero substance.

Modi has so far been unable to say anything bad about Trump.

and the whole thing is based around killing and eating one another.

Maybe, but are there any ARM chips and motherboards you can buy freely (at least for consumers)? No its all embedded, all soldered on, no upgrade path. This is why I hate Apple Silicon you have to buy their trash everything else.

Tldr government could mismanage and misallocate as if private capital hasn’t done enough damage to Intel.

Also fuck the markets. There are no “free” markets with chips, x86 is a duopoly. Chip making in general is an oligopoly.

https://ipinfo.io/AS12975#block-summary

might be useful

RIPE Atlas is what you are looking for. Not sure about probes in Palestine.

why do CBDC? SEPA/SEPA Instant already exists and can clear payments just fine without involving VISA/Mastercard. Will people recieve salary in this digital Euro account? probably not because banks lobby, they want cheap funding source i.e. customer deposits. most people wouldn’t want it since there is no interest paid (compared to tiny to moderate interest in savings accounts), you don’t have card even as an option. Like I don’t mind ppl using central bank liabilities for payments but the entire capitalist financial infrastructure is built around commercial banks. its just inconvenient having to transfer money between commercial bank and ECB wallets.

It won’t destabilize existing financial system or result in bank runs, all banks in the Eurozone are ultimately backstopped by the ECB. bank lending isn’t reserve constrained, it is true that losing cheap deposits may reduce profitability of banks, but that’s it. they will be able to lend just fine because of ECB’s LTROs, TLTROs etc.

the privacy argument against CBDCs is silly though. Commercial banks ultimately work because of Government, they use Government money for clearing. Governments can just ask them for your data if needed.

Subsidize SEPA/SEPA Instant. Make it free, a public service. Market it by using the said arguments, people will use it more then. Maybe even force banks to issue cards like Mir in Russia or Unionpay in China.

<insert October 7th Joke>