Trumpsters aren't happy

[Mark1T]

She is also thought to be a big reason behind the recent Bitcoin tank. She made comments about regulation being required to stop payment for illicit activities and terrorism...

True and it made logical sense. Bitcoin had some profit takers today too. But mostly took a dive from her comments.

[LWW]

You call these politicians my buddies/friends, and i don't know any of them!!
Get that thru your fkn thick skull!
Now if you want to debate policy like a grown ass man then bring it strong; but don't bring me that weak ass chit that you have been shoveling here to others because i will make you walk away crying like a lil
b itch!

Policy? I’m taking a piss on policy!!!

[djflex2]

401Ks are in the crosshairs.

I am terrified...srs

[ChazWood]

She is also thought to be a big reason behind the recent Bitcoin tank. She made comments about regulation being required to stop payment for illicit activities and terrorism which she said often use Bitcoin..


Market tanked today...

To my understanding, that drop was more influenced by another doublespend.

OK, shifting gears... Check out this great quote:

"Power should be used sparingly yet strategically. A reluctance to exert power is also a necessary requisite for possessing it. Our Constitution reserves many powers to the individual and to the states. Washington often forgets that. Leaders are wise to respect, not rob, people of their power."

"In the '80s, Washington was known for the 'power lunch' and the 'power suit.' Cute. Increasingly, women in Washington have real power. Sometimes, the expectations for powerful women are different, but so, too, are the motivators and outcomes."

"The late British Prime Minister Margaret Thatcher offered words to live by: 'Being powerful is like being a lady. If you have to tell people you are, you aren't.' This is true. Show it; don’t say it. Use it wisely; don’t underline it obnoxiously."

"If you have a choice between power and influence, go for influence. Power is conferred by one's birth, position, promotion or election. Influence is how things get things done, preferring negotiation, persuasion and elevating cooperation and collaboration."

I haven't read anything this insightful for ages.

It's author: The brilliantly sly fox, Kellyanne Conway. Not that kind of fox, y'idgits.

[7Seconds]

She is also thought to be a big reason behind the recent Bitcoin tank. She made comments about regulation being required to stop payment for illicit activities and terrorism which she said often use Bitcoin..


Market tanked today...

I think it important we consider the benefits of cryptocurrencies and other digital assets, and the potential they have to improve the efficiency of the financial system. At the same time, we know they can be used to finance terrorism, facilitate money laundering, and support malign activities that threaten U.S. national security interests and the integrity of the U.S. and international financial systems. I think we need to look closely at how to encourage their use for legitimate activities while curtailing their use for malign and illegal activities. If confirmed, I intend to work closely with the Federal Reserve Board and the other federal banking and securities regulators on how to implement an effective regulatory framework for these and other fintech innovations.

https://www.theblockcrypto.com/linke...utm_medium=rss


This sounds to me like a typical political response from someone trying to navigate an inherently political confirmation process. I don't think we can draw many useful conclusions on her views from this statement, but it does seem to me that she tends toward resisting cc just based on the amount of time she spends talking about the risks, vs time spent talking about the benefits.

[Mark1T]

I am terrified...srs

Don’t be terrified. It isn’t good, but means that it would stunt growth by not allowing deferring taxes. It is terrible for those of us who have worked hard for our retirements. Things like this are also IMO a political mistake by penalizing relative success. There is no reason to do this other than to kill ambition with 1000 cuts with an excuse of taxing the “rich.”

[induced_drag]

This sounds to me like a typical political response from someone trying to navigate an inherently political confirmation process. I don't think we can draw many useful conclusions on her views from this statement, but it does seem to me that she tends toward resisting cc just based on the amount of time she spends talking about the risks, vs time spent talking about the benefits.

Agreed. That and based on some other comments it is a tightrope for sure.

I think everyone was expecting a BTC pull back. But I think the comments above, made it a little more dramatic than it might have been. I "lost" 6 figures plus in the pull back, but since I am on the 'go big or go home' hlod long mode, I am not really paying attention to it. Does suck a little and hard not to get trapped into the could have would have's... but I wont go too far down that road. Only intelligent thing I can say is It will be what it is in time.

I am more frustrated by XL pipeline and the dual standard already apparent in our MSM. If any world leaders openly expressed their displeasure with a Trump policy, AND threatened to sue the US, it would be the lead story on the news. Well Canada did just that, and NOT a peep out of the media. Does not even make the news. Hell it made news when they would speculate that other world leaders did not like trump. But direct policy decisions, and angry neighbors to the north calling it a "kick in the gut". NOTHING....

[7Seconds]

Agreed. That and based on some other comments it is a tightrope for sure.

I think everyone was expecting a BTC pull back. But I think the comments above, made it a little more dramatic than it might have been. I "lost" 6 figures plus in the pull back, but since I am on the 'go big or go home' hlod long mode, I am not really paying attention to it. Does suck a little and hard not to get trapped into the could have would have's... but I wont go too far down that road. Only intelligent thing I can say is It will be what it is in time.

I am more frustrated by XL pipeline and the dual standard already apparent in our MSM. If any world leaders openly expressed their displeasure with a Trump policy, AND threatened to sue the US, it would be the lead story on the news. Well Canada did just that, and NOT a peep out of the media. Does not even make the news. Hell it made news when they would speculate that other world leaders did not like trump. But direct policy decisions, and angry neighbors to the north calling it a "kick in the gut". NOTHING....

Keyystone XL has been tied up in Montana courts since early 2016. When President Trump did the go ahead for the project at the start of his term, it violated fresh water treaties. No one has bothered to do anything about it since.

To immediately pin this on Biden or anyone else seems a
bit misleading. Perhaps he put the nail in the coffin but it wasn’t likely going anywhere.

https://www.bnnbloomberg.ca/montana-...ings-1.1422110

[Bando]

401Ks are in the crosshairs.

I am terrified...srs

I'm not, I'm in Mutual Funds spread over 4 types. That said, I'm friends with a couple retirees that lost 1/2 million each when the tech bubble burst. They're fine, in one case she won't be leaving as big of an inheritance and in the other he might need to buy a 2 year old camper instead of brand new when it comes time to upgrade.

Having been through 3 of these, 2 with money in the game, I'll probably look at pulling out of the market about 4 years from retirement. I'll just pick a day within that 4 year window and just put everything into my money market account. Complain about MSM all you want, but they'll tell me when when that day is, not in so many words, but I can read the tea leaves.

[Corbi]

How could they even tax unrealized cg? Wtf they would just be tapping my 401k for the greater good, im out on that

401Ks are in the crosshairs.

I heard / read they are looking at taking 25% as well as reaching into peoples banks and removing portions of their savings, if you think that won't cause a damn civil war I don't know what would.

[Jtbny]

To my understanding, that drop was more influenced by another doublespend.

Ding ding ding but this doesn't help the fear mongering narrative.

On top of that BC declined big the prior week. Its volatile and unpredictable. When the market reacts to news I'll listen but BC? Nah.

I heard / read they are looking at taking 25% as well as reaching into peoples banks and removing portions of their savings, if you think that won't cause a damn civil war I don't know what would.

I don't believe that will happen and would like to read it. I googled it but can't find it. If it were to pass I'll go Joels route and buy silver bars and stash them under my bed. What can they do if one slams all their money into 10/20 year bonds or doesn't have a savings just a checking account, or keeps their savings abroad or? Doesn't seem possible and sounds more like scare tactic nonsense than real actual policy talk.

[Mark1T]

I'm not, I'm in Mutual Funds spread over 4 types. That said, I'm friends with a couple retirees that lost 1/2 million each when the tech bubble burst. They're fine, in one case she won't be leaving as big of an inheritance and in the other he might need to buy a 2 year old camper instead of brand new when it comes time to upgrade.

Having been through 3 of these, 2 with money in the game, I'll probably look at pulling out of the market about 4 years from retirement. I'll just pick a day within that 4 year window and just put everything into my money market account. Complain about MSM all you want, but they'll tell me when when that day is, not in so many words, but I can read the tea leaves.

Smart. I just hope the new admin doesn't start to take a % of all investments over and above the current.

I heard / read they are looking at taking 25% as well as reaching into peoples banks and removing portions of their savings, if you think that won't cause a damn civil war I don't know what would.

I haven't heard that, yet. I sure hope not.

[steffo99]

Wow..lol..well just had to share it somewhere..figured it be ok in here.

[Plateauplower]

I'm not, I'm in Mutual Funds spread over 4 types. That said, I'm friends with a couple retirees that lost 1/2 million each when the tech bubble burst. They're fine, in one case she won't be leaving as big of an inheritance and in the other he might need to buy a 2 year old camper instead of brand new when it comes time to upgrade.

Having been through 3 of these, 2 with money in the game, I'll probably look at pulling out of the market about 4 years from retirement. I'll just pick a day within that 4 year window and just put everything into my money market account. Complain about MSM all you want, but they'll tell me when when that day is, not in so many words, but I can read the tea leaves.

Honestly you’d probably be better served dollar cost averaging out of the market over several years for the funds you will need for the first timeframe of retirement. That allows you time to draw down funds in the highs and wait out market corrections etc. I’ll probably start putting some that I’ll plan to use immediately after I retire in safer things about 5 years out. Then leave the rest in the market as it’ll have a better chance of growing there than in safe havens.

[Bando]

Honestly you’d probably be better served dollar cost averaging out of the market over several years for the funds you will need for the first timeframe of retirement.

That's exactly what my undergrad finance professor would say, before I got my BS in Econ in 2001. Before 2001 there was only the 89 crash that corrected in a few months and of course the 29 crash. Since 2001 we've had the tech bubble and housing crash which took years to correct. My spidey sense tells me to shift to insured money market funds and not worry about the somewhat negligible gains sooner rather than later. Money in the bank =/=money in the market.

[Plateauplower]

That's exactly what my undergrad finance professor would say, before I got my BS in Econ in 2001. Before 2001 there was only the 89 crash that corrected in a few months and of course the 29 crash. Since 2001 we've had the tech bubble and housing crash which took years to correct. My spidey sense tells me to shift to insured money market funds and not worry about the somewhat negligible gains sooner rather than later. Money in the bank =/=money in the market.

Well I guess if you only plan to stay retired for 10 years that’s a good plan. I’m not as dependent on my separate retirement accounts as I’ll have a 6 figure pension. I do plan to use investment money from my and my wife’s spousal Roth IRAs for college for our kids if needed. That said you can’t guarantee that we won’t be in a correction for the four years preceding your retirement. My as well pull out now while we are near record highs

[Corbets]

Smart. I just hope the new admin doesn't start to take a % of all investments over and above the current.

I‘ve never understood that about US taxes - in my book, you simplify the system a lot, and yet treat everyone fairly, if you just tax everything as income. Whenever you sell for a profit, that‘s income, and it adds to your annual total.

But I suppose the accountants need work programs too!

[supramax]

... removing portions of their savings...

LOL, funny and likely a rumor started by Trump, himself.

[ElrondHubbard]

Frankly kinda surprised you weren't already aware this stuff is going on. Did you not listen to anything Snowden said in recent years?

and I wholeheartedly support eomrat's suggestion.

We should have listened to Snowden from the beginning instead of chasing him off.

[ElrondHubbard]

I heard / read they are looking at taking 25% as well as reaching into peoples banks and removing portions of their savings, if you think that won't cause a damn civil war I don't know what would.

Sure is a good thing you never listen to fake news!

[mtpockets]

[7Seconds]

This is pretty funny.