FTX and price controls: Trading turds - UK Column News - 14th November 2022

- Mail Online: $515m is STOLEN from collapsed crypto exchange FTX
- Effective Altruism Forum’s potted biography of founder of crypto platform FTX, Sam Bankman-Fried (“SBF”)
- Worth remembering: Utilitarianism means getting away with it “for the greater good”
- “Government regulations don’t protect you; they protect the crooks”

- Ukrainian angle to the FTX collapse is even worse: @Ben_Kew—FTX CEO Sam Bankman-Fried bankrolled the Democratic Party’s midterms war chest
- Reuters: Hedge fund Galois Capital says half its capital stuck on FTX exchange
- David Scott commentary: “It all seems very circular: money went to Ukraine, which went to the Democratic Party, which funded the Ukraine war”
- “It draws in a lot of charlatans … trading turds”
- BBC—Jeremy Hunt: Everyone will have to pay more tax
- David Scott analysis: Governments can change tax rates; they cannot make more tax revenue appear—we have a government that we cannot afford
- BBC—Rishi Sunak: We’ll deliver the public finances that the markets expect
- We are now running the country to satisfy the expectations of financiers
- US International Trade Administration: Argentina extension of consumer goods price controls
- David Scott prediction: This is the West in a year or two and will cause shortages, because price controls never work
- Financial Times: Argentina unveils price controls to tame inflation
- “The state will absorb the extra costs”—with which of its non-existent resources?
Sources:
https://www.ukcolumn.org/video/uk-column-news-14th-november-2022