1-Since the ECB has singularly failed to provide financial stability to the eurozone, but instead was responsible for record credit boom-busts in Ireland, Portugal, Spain etc. followed by vast unemployment and sovereign debt crises, why should the ECB be given any FURTHER powers?

@paulbuitink 2-Nobody needs CBDC. There is no demand for it. Please provide actual evidence that there is popular demand for it. (NB Demand for bitcoin is no such proof; demand for cash is no such proof, especially since CBDC is designed to abolish cash for negative rate/expropriation policy)
@paulbuitink 3-Conflict of interest. ECB is banking regulator in the eurozone. Now it is seriously contemplating compromising its umpire role as regulator by stepping into the arena and wanting to directly compete against the banks, which are regulated by the ECB (CBDC=current accounts)...
@paulbuitink 3b Isn't this anti-competitive; unfair competition? Throws new light on the ECB's past 20 years of policies, which have been aggressively anti-(small)-bank. As the ECB now admits it wants to compete with the banks, have its policies of killing so far 4,800 banks been intentional?
@paulbuitink 4-ECB claims that CBDC may increase financial stability, but it has been the ECB's disastrous policies that have caused dramatic financial instability over the entire period of the ECB's existence. Why should anyone believe the ECB's claim to aim at financial stability?...
@paulbuitink 4b- If its goal really was financial stability, why did the ECB allow 30% credit growth in Ir, Po, Sp? Why did it fob off my warnings that this would cause a crisis? Why did the ECB not implement credit guidance, as I've been saying, restricting bank credit for asset purchases?
@paulbuitink 5-The ECB says the aim of TLTRO is to 'increase bank credit for the real economy'. What macroeconomic theory is this based on? I know one: The General Quantity Theory, aka Quantity Theory of Disaggregated Credit, which I proposed in 1992. Why wasn't this used earlier then?
@paulbuitink https://t.co/BklbnXzDil

https://t.co/NFuNB237FF
@paulbuitink 6- We already have digital currencies. Namely bank digital currencies (BDC). We just need more 'good banks' doing the right thing: local community banks. All problems solved. Why abolish digital currencies, and thus banks, to introduce monopoly CBDC? Total power in hands of ECB?

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1/ My Mission: To Spread Financial Wellness (thread)

Here’s what "financial wellness" means to me

⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️

2/ Mindset

Humans are programmed to think short-term

Evolutionary, thinking short-term makes sense. It helps with survival.

Financial wellness is all about training yourself to develop a long-term mindset

Not easy -- it takes practice


3/ Mindset

If you join the right tribes, you can’t help but improve

My favs:
@AffordAnything
@ChooseFiFI
FinTwit
@MicroCapClub
@themotleyfoolFool
@visualizevalue

Twitter / Podcasts / Blogs / YouTube -- when used correctly -- are amazing


4/ Mindset

Educate yourself - constantly!

Especially about:

1⃣Money
2⃣Relationships
3⃣Health

These 3 categories have an outsized influence on all areas of your life

Books


5/ Career

In the beginning, focus on growing your income

Do more than what is expected

Become a lynchpin

Find a career that you ENJOY (<- important!) that also has high-income potential

Start a side hustle (<- important!)

Build your talent

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The first ever world map was sketched thousands of years ago by Indian saint
“Ramanujacharya” who simply translated the following verse from Mahabharat and gave the world its real face

In Mahabharat,it is described how 'Maharishi Ved Vyasa' gave away his divine vision to Sanjay


Dhritarashtra's charioteer so that he could describe him the events of the upcoming war.

But, even before questions of war could begin, Dhritarashtra asked him to describe how the world looks like from space.

This is how he described the face of the world:

सुदर्शनं प्रवक्ष्यामि द्वीपं तु कुरुनन्दन। परिमण्डलो महाराज द्वीपोऽसौ चक्रसंस्थितः॥
यथा हि पुरुषः पश्येदादर्शे मुखमात्मनः। एवं सुदर्शनद्वीपो दृश्यते चन्द्रमण्डले॥ द्विरंशे पिप्पलस्तत्र द्विरंशे च शशो महान्।

—वेद व्यास, भीष्म पर्व, महाभारत


Meaning:-

हे कुरुनन्दन ! सुदर्शन नामक यह द्वीप चक्र की भाँति गोलाकार स्थित है, जैसे पुरुष दर्पण में अपना मुख देखता है, उसी प्रकार यह द्वीप चन्द्रमण्डल में दिखायी देता है। इसके दो अंशो मे पीपल और दो अंशो मे विशाल शश (खरगोश) दिखायी देता है।


Meaning: "Just like a man sees his face in the mirror, so does the Earth appears in the Universe. In the first part you see leaves of the Peepal Tree, and in the next part you see a Rabbit."

Based on this shloka, Saint Ramanujacharya sketched out the map, but the world laughed