Beliefs affect behaviour

Bad behaviour can have detrimental consequences with wealth building

Being aware of your own innocent beliefs is powerful, but only if you apply this knowledge

A thread inspired by @GeorgeDKinder and the @KinderInstitute

1. My self worth is based on what others think of me

Some people define themselves based upon how they guess others see them

When they are convinced that others think poorly of them, such people lack the self-confidence necessary to consistently take action

2. My past = My future

If some people experience a series of setbacks they assume their goals are not achievable

Over time they become dispirited & discouraged, then they avoid situations where failure is a risk

As any significant effort entails risk, such people are then unable to make significant achievements

3. My destiny is controlled by the supernatural

The belief that status in life or even potential as a human is determined by luck, fate, or divine intervention, can rob such people of initiative, making them passive as they wait for "luck" to change

After needlessly arguing over the effect of discount rate and inflation, I decided to analyze its impact on the credit market myself. I used SBP monthly data from its website (stock). Flow data would have been better but I worked with what was available.

A thread.

Government borrowing was impacted by the discount rate. At 13.25%, GoP borrowed appears to have stopped increasing. As the size of private-sector borrowing is smaller than GoP borrowing, we will look at private-sector borrowing separately.

Private sector borrowing: stand-alone and starting the left axis from Rs.3 trillion so that changes are visible. It appears private sector borrowing kept increasing till Dec 18 when the discount rate was raised to 10%.

SBP started decreasing discount rate in March 2020 along with some other initiatives to spur growth. But now it was too late. Pandemic had struck. Private sector borrowing continued to fall. You can read about SBP initiatives here

The impact of SBP discount rate is obvious here if we look at it YoY. Credit to Private sector continued to grow till Dec 2018. Growth in credit clocked at 16% and 21% in 2017 and 2018. After that SBP's moves up or down stopped having any impact. 4% growth in 2019 and 0% in 2020

@BrentBeshore I made my first SMB acquisition last Spring. Here are a few things I learned from the introduction until now:

1. Understanding the financial statements of a small business can be very different than what is taught in an MBA program

2. The seller isn't telling you nearly the whole story. Sometimes they don't even know the story. Account for that.

3. The business is often worse than the seller will admit and can be improved more than the seller realizes.

4. The employees that have been there the longest don't want to change and don't give a rip about your acquisition. They simply want to continue receiving a paycheck without much hassle.

5. The company competitors have been waiting on a chance to pounce on your key customers. Change of ownership presents that.

6. You'll lose sleep and won't even be able to identify the problem. It's just the pain of owning a business that keeps you up.

7. It's easy to wake up one day and realized you've been around your family but haven't been emotionally engaged in months. You'll drive down to a park during lunch last week and cry your eyes out. Did I just say that out loud?!

If you don't have firsthand experience with how traditional financial institutions (pensions, corporate treasuries etc) administratively permission the moving of assets, it's hard to understand why it's still very difficult for an institution to own bitcoin. Here's why: /1

2/ I worked at an endowment for 4 years, so I'll use the example I'm most familiar with. The Uchicago endowment had $8b and a staff of ~24 when I was there. The head of the endowment is the CIO, but he can't move money or assets by himself.

3/ when he wants to transfer cash or assets (let's say to invest endowment cash in to a VC fund), it follows a carefully controlled process to avoid theft or malfeasance.

4/ the cash itself sits with a custodian. The endowment must transmit and verify instructions to the custodian in a specific way to authorize its transfer. This is typically something like a document signed by multiple parties at the endowment and a phone confirmation.

5/ This process is not all that secure given the dollar amounts in question, but it works because of the financial infrastructure plumbing. Wire transfers are reversible (short-term), and they effectively use "whitelisting."

1/ Yesterday I pushed out a report covering the various angles of growth observed across the NFT ecosystem.

2020 was a monumental year for NFTs, and the stage is well and truly set for another record-setting year in

2/ For those of you new to the topic, take a moment to familiarize with what non-fungible tokens are as well as how they might become a core driver of the evolution of online content.

Don't be afraid to let the imagination wander!

3/ Whilst data remains relatively fragmented, the numbers of active marketplace users is clearly growing with almost $90M in sales.

💰Largely driven by 4 major categories:

- Crypto Art (>$20M)
- Crypto Sandboxes/Virtual Worlds (>$16M)
- Video Games (>$15M)
- Collectibles ($16M)

4/ The dip in marketplace activity due to high gas fees during the "DeFi Summer" is notable: as activity and sales declined.

Interestingly, we see that throughout the year the amount of NFTs sold per month declined whilst average sale price went up.

5/ This is likely indicative of gas fees forcing users to focus on buying quality over quantity, whilst smaller transactions on mainnet were prohibitively expensive forcing them to shift to layer 2s such as Matic, or not take place at all.

@TracyICQ @bitchute Greetings! Thank you Tracy! What interest me is Demonstration proofs of ongoing private side operations RICO Tax Audit account perspectives: Due ONLY to historical worldwide Acquisitions Disclosing all sovereign nations' transactions & communications of oversight fiduciaries
B-1

1/ History of the Cabal THREAD

Once things start to be revealed, this may be helpful for you to educate your friends and family. Many of them will likely be very confused and scared. I pulled this information from a couple of drops/posts.

Reading the IFR about PPP second draw and it's got me thinking about who qualifies for second draw. Might be so many thoughts I need like several tweets in a row or a thread if you will. Warning I don't get to the real point of this until like a dozen tweets in #taxtwitter

Need 300 or less emp and a 25% decline in revenue 2020 vs 2019. There are rules about what's an employee and what's gross receipts so I don't really have any questions or deep thoughts about that part. I think we all understand how you document gross receipts went down.

Nice of them to define the gross receipts in a footnote of page 8 and on page 23. PPP loans would not be included so that's helpful and logical. These rules are not always helpful and logical so nice to see that.

Another requirement is that PPP first draw was received and has used the full amount of the PPP first draw on "eligible expenses" on or before PPP second draw is disbursed. That's interesting to me. It doesn't say that the PPP first draw will be entirely forgiven.

Eligible exp for PPP first draw are referenced back to the other new IFR on PPP first draw and it's the whole list of payroll, rent, PPE, supplier costs etc. Certainly to achieve 100% forgiveness you needed to spend 60% on payroll and spend all of it in the CP.

With $50-$500 dApp interaction fees, DeFi mainly just caters to the whales

Major DeFi apps launching on Layer 2 can 10x the number of DeFi users

2021 is the year it happens

But DeFi apps will be launching across a host of different L2s - zksync, Starkware, Optimism, Matic, etc

With long or costly exit times moving between L2 to L1 to a different L2 users don't get the real DeFi UX that make it so magical

Luckily, @thorchain_org exists

People talk about Thorchain in the context of connecting other L1s, but most L2s are separate blockchains themselves that can just as well connect to Thorchain

This means that if Thorchain bridges were built for say Optimism & zksync, users would not need to go through the cumbersome process of moving to L1 first and could instead trade their Optimism coin for the same version of that coin on zksync in one tx

And since transactions on L2 are fast and cheap, so would the transaction to transfer assets between those chains

The UX for moving between chains is dramatically simplified and Arbitragers/Market makers will ensure that the version of each coin is pegged across the L2s

Short introduction about $RSD #Realstabledollar

Real Stable Dollar is a fork inspired by the Empty Set Dollar (ESD) and Dynamic Set Dollar (DSD) projects.

Real Stable Dollar is a decentralized stablecoin that uses a supply elasticity method around a Time Weighted Average Price (TWAP) for price stability. It’s an algorithmic stablecoin that uses TWAP to maintain the price at $1.

Features:

🔸Epoch Time: 1 Hr (Configurable by DAO voting)
🔸DAO lock up 72 epochs (3 Days)
🔸LP lock up 48 epochs (2 Days)
🔸Supply change limit Per Epoch
First 3 Days: 2.5%
After 3 Days: 1.5%
🔸Decentralized Governance
🔸USDC pool
🔸5% tax on selling during contraction period

🔸When out of contraction period, two epochs will also have 5% Tax
🔸Bootstrapping period: 12 days

I support Mexican travel vouchers as a stimulus package, usable in the country of Mexico by receipt.

$1,000 travel vouchers to every family now

Must spend the money in Mexico with receipt

Cabo San Lucas, Cancun anybody?

Got to preserve our go to North American spots!

Or you can call these sanctions on the GOP, for dangerous Latino rhetoric the last 5 years.

This could also be the cultural learning experience that the GOP truly is calling for regarding their calls of unity ;)

GOP, put your money where your mouth is and give us $1,000 stimulus packages to Mexico!! If you truly want, unity.

Vouchers accepted in Cuba, Puerto Rico, Dominican republic, Jamaica, and Hawaii.

Florida travel ban, NOW

Senate Democrats just killed the push today for $2000 checks.

A few Senators--namely Sanders and Markey--wanted to hold up the NDAA as leverage to push for a vote on $2000.

Democratic leadership rejected this--including Vice President elect Harris.

Let’s be real: McConnell is the one at fault for refusing to put a vote for the $2000 on the floor in the first place and being fifty shades of hypocritical along the way.

But Democratic leadership has, once again, folded to Republicans without attempting to fight for us.

If Democratic leadership is actually serious about getting $2000 checks to people, they would do one of two things:

a.) Find another leverage against McConnell and Senate Republicans

b.) Take McConnells offer on the combined bill of $2000 checks and Trump wishlist items

McConnell has made it clear today that he is not interested in putting a vote for $2000 checks on the floor unless it’s through his bill—which includes repealing Section 230 and putting together a committee to study “election fraud” in the 2020 election.

The argument that Dem leadership will make is that getting this NDAA through is vital, and can't be held up as leverage.

This is precisely why Sanders & Markey wanted to hold it up as leverage.

Dem leadership better have a Plan B if they are serious about helping people.

Looks like an interesting house, right?
And hey, it’s reasonably priced. $157K, on 2/3rds of an acre.
High speed cable broadband should be available.
Lots of light, parking, deck...

https://t.co/8TEyzhNi8E

Not a murder house, not even a little!

Uh... maybe... wait...
That’s an interesting trim choice.
Door’s a little dated but not too bad.

Oh, shit.

More. Shag.
In. The. Kitchen.
WHY?
Have you never cooked??

(And we will talk about the seam from Cocoa Beach Blue to Violet Vale later.)

This is from 1995 and is an ODI working paper, its insightful because it still references the impact of the SAPs on the rural economic ecosystem https://t.co/tSQo281qVW However, I have an issue with the mindset revealed by the author's framing and evaluation.

Savings is a complicated subject among the informal economic ecosystem's actors, and I want to discuss it further here. Even the formal first world economy is conflicted about savings. Note that its considered valuable for devt here in this snippet.

Yet, until the year 2020 and its pandemic shock to the whole system, the dominant narrative of economic growth relied on consumption, which in turn was a mindset that decried the massive savings seen among consumers in emerging markets like India & China.

The real blockage, it seems to me, is that the informal ecosystem's value flows (disaggregated into goods, services, people, info & knowledge, currency or value equivalent) are air-gapped from teh formal economy's money. The two ecosystems are not well integrated enough for flow

Coming back to the thorny issue of savings in the context of the informal economic ecosystem - the volatile economic ecosystem to be honest, which these days is creeping into the margins of the allegedly formal system etc. there is an inherent conflict between two "systems" here

1/ We have already considered some protocols with their own systems for maintaining token values at the $1 peg. Let’s look at @fraxfinance and speak about the price stability of its token.

Question of the day: How would one model how much money was spent trying to convince conservatives to vote for the Democratic party, and what would happen if more of it had been spent on Black and Latina organizers?

I'll be upfront: I'm not qualified to do this work. But I'd like to know if anyone is doing it or what the process of inquiry would be. Here's why....

I was on a private panel with a credentialed white political scientist. He said that "the only way" to win the elex and reclaim democracy was to persuade white conservatives to abandon Donald Trump.

I told him I rejected that out of hand because it stripped me of all agency as a Black woman, and I could never wait for anyone to save me.

A lot of money went into persuading white conservatives that doesn't seem to have moved the needle. At the same time, in other private conversations (these are off the record panels of various types), Black/Latina organizers talked about Texas.

1/ Some people on the left have this magical thinking problem when it comes to why our ideas don't often carry the day within the Dem Party. We act like it's all "big Pharma money" etc. And yes, that money is corrupting. But it's not magic...

2/ If a Rep knew the majority of THEIR constituents (not Dem voters from other parts of the country but THEIR constituents) supported more left policies *and would actually show up & vote against them if they didn't vote for those policies* they would vote for them, obviously.

3/ A major goal of a Rep is to keep being one, so no one would go against the wishes of the majority of their constituents just to get contributions, if that would cost them the job. But it WON'T. Either bc the folks who could punish them don't bother to vote, or, more likely...

4/ bc most voters are savvy enough to care about more than one issue, so even if a Rep doesn't fight for M4A, they might be good on other things voters care about and much better than the GOP alternative. Now, if these are progressive districts where the D is sure to win..

5/ ...it's different. THERE it makes sense to push hard for those Reps to do the left thing. But that means running good candidates in primaries, so those Reps feel the heat. Twitter shaming them or forcing floor votes to "expose" people means nothing w/o a viable alternative...